(TheNewswire)
Abbotsford, BC - TheNewswire - January 26, 2023 - Gatekeeper Systems Inc. (‘Gatekeeper’ or the ‘Company’)(TSXV:GSI) (OTC:GKPRF) a video and datasolutions provider for public transportation and smart cities, reportsits financial results for the three months ended November 30, 2022.
Financial Highlights for First Fiscal Quarter Ended November 30,2022:
-
Revenue was $4,885,058, an increase of 81% whencompared to $2,699,589 in the prior year comparable period;
-
Gross profit was $1,546,118, which compares to$1,719,439 in the prior year comparable period;
-
Comprehensive loss was $86,014 which compares tocomprehensive income of $183,093 in the prior year comparable period;and
-
At November 30, 2022, the Company had working capitalof $10,943,844, and approximately 91.4 million sharesoutstanding.
Management Commentary
Doug Dyment, President and CEO, comments,“ We are extremely pleased with our solidrevenue growth in this first quarter, which follows the strongestquarterly revenue in our history during the fourth quarter last year.We have also announced contracts for approximately $4 million that weexpect will be completed during our second quarter, so our revenuegrowth continues to be strong. During the quarter we continued toincrease the number of mobile data collectors installed, which forms akey part of our corporate strategy to evolve as a datacompany.”
Selected Financial Information
For the three months ended | ||
November 30, 2022 | November 30, 2021 | |
Revenue | $ 4,885,058 | $ 2,699,589 |
Cost of Sales | $ 3,338,940 | $ 980,150 |
Gross Profit | $ 1,546,118 | $ 1,719,439 |
Gross Margin Percentage | 32% | 64% |
Expenses | $ 2,164,721 | $ 1,703,139 |
Operating Income (Loss) | $ (618,603) | $ 16,300 |
Comprehensive Income (Loss) for the period | $ (86,014) | $ 183,093 |
Earnings (Loss) per share – | ||
Basic | $ (0.00) | $ 0.00 |
Diluted | $ (0.00) | $ 0.00 |
November 30, 2022 | August 31, 2022 | |
Total Assets | $ 16,453,995 | $ 23,016,204 |
Total Liabilities | $ 4,002,594 | $ 10,470,109 |
Total Shareholders’ Equity | $ 12,451,401 | $ 12,546,095 |
Full details of the financial reports and operatingresults for the fiscal first quarter ended November 30, 2022, aredescribed in the Company’s unaudited interim consolidated financialstatements with accompanying notes and related Management’sDiscussion and Analysis, available on SEDAR at www.sedar.com .
About Gatekeeper Systems Inc.
Gatekeeper is a leading provider of intelligent videoand data solutions designed to provide a safer transportationenvironment for children, passengers, and public safety personnel onmultiple transportation modes. The Company uses AI, video analytics,thermal cameras, and mobile data collectors to inter-connect publictransit assets as part of intelligent transportation systems in aSmart City ecosystem. The Company’s Platform-as-a-Service (PaaS)business model is an enabling transformation to a video and datasolutions provider for intelligent transit and Smart Cities. www.gatekeeper-systems.com
Contact Information:
Douglas Dyment
ddyment@gatekeeper-systems.com
Cautionary Note Regarding Forward-Looking Statements:Certain statements made in this press release that are not historicalfacts are forward-looking statements and are subject to importantrisks, uncertainties and assumptions, both general and specific, whichgive rise to the possibility that actual results or events coulddiffer materially from our expectations expressed in or implied bysuch forward-looking statements. As a result, we cannot guarantee thatany forward-looking statement will materialize, and readers arecautioned not to place undue reliance on these forward-lookingstatements. For more exhaustive information on these risks anduncertainties, the reader should refer to the risk factors describedin the management's discussion and analysis for the period endedNovember 30, 2022. The forward-looking statements contained in thispress release represent our expectations as of the date hereof. Wedisclaim any intention and assume no obligation to update or reviseany forward-looking statements. Forward-looking statements arepresented for the purpose of providing information about management'scurrent expectations and plans and allowing investors and others toobtain a better understanding of our anticipated operatingenvironment. Readers are cautioned that such information may not beappropriate for other purposes. The Company undertakes no obligationsto update or revise such statements to reflect new circumstances orunanticipated events as they occur, unless required by applicable law.
Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this release.
Copyright (c) 2023 TheNewswire - All rights reserved.