Gatekeeper Reports $6M Revenue in Fiscal Q1 2026
Newsfile
January 29, 2026 9:15PM GMT
Abbotsford, British Columbia--(Newsfile Corp. - January 29, 2026) - Gatekeeper Systems Inc. (TSXV: GSI) (OTC Pink: GKPRF) ("Gatekeeper" or the "Company") a video and data solutions provider for public transportation and smart cities, reports its financial results for the first fiscal quarter ended November 30, 2025 (the "Quarter"), and announces corresponding conference call details.
Fiscal Q1 2026 and Recent Business Highlights:
- $46.3 million in new business contracts announced during the Quarter and subsequent to the Quarter end including: $27 million transit video contract with New York MTA's Long Island Rail Road, $9.3 million school bus video contract with a student transportation provider, OEM contract with Alstom for transit video, and $0.8 million video contract with L&T Technology Services for Etihad Rail project in the Middle East.
- Revenue for the Quarter was $5.9 million compared to $7.3 million in the prior year comparable period.
- Gross profit for the Quarter was $2.7 million compared to $3.2 million in the prior year comparable period. Gross margin as a percentage of revenue was 45% compared to 43% in the prior year comparable period.
- Operating expenses for the Quarter were $4.3 million compared to $3.1 million in the prior year comparable period.
- Total comprehensive loss for the Quarter was $0.8 million compared to income of $0.6 million in the prior year comparable period.
- Completed a bought-deal financing generating aggregate gross proceeds of $13.5 million.
- Appointed security industry executive, Hamish Dobson, to board of directors.
- At November 30, 2025, the Company had working capital of $35 million, including cash of $18 million. The Company also has a $6 million Credit Facility plus a $7.5 million Letter of Credit Facility with TD Bank, both of which were undrawn at November 30, 2025.
Management Commentary
Doug Dyment, President and CEO of Gatekeeper, commented, "During fiscal Q1 2026 we announced our largest-ever contract wins in both transit and school bus segments and raised $13.5 million in the Company's largest-ever financing.
In the transit segment, we announced a $27 million contract for New York MTA's Long Island Rail Road, and we've commenced work on that project. We became an OEM transit video and data solutions provider to Alstom, a global leader in rail transport systems, and announced an Alstom contract to equip new SEPTA streetcars with video. Our business reach has now expanded globally with the announcement of a video contract with L&T Technology Services for Etihad Rail in the Middle East. During the Quarter and subsequent to the Quarter end, we announced approximately $35 million in new contracts in the transit segment.
In the school bus segment, we announced a $9.3 million contract in California with a student transportation provider, which is a business relationship that is also contributing additional growth in our OEM school bus factory installation business model. Our business in California has shown solid growth and we count over 350 school districts as our customers there, many of whom have completed full-fleet installations. School districts are embracing our video management subscription offering for video analysis and storage, and most of our recent contract wins now include this recurring revenue component. During the Quarter and subsequent to the Quarter end, we announced approximately $11 million in new contracts in the school bus segment.
The Company also raised $13.5 million in a bought deal financing during the Quarter, allowing the Company to strengthen its overall financial position to execute large contracts."
Conference Call
Gatekeeper management will hold a conference call on January 30, 2026, at 8:45 a.m. ET to review its financial and operating results and provide a corporate update. Shareholders may join the conference call by either dialing (+1) 800-717-1738, or joining through the weblink http://momentum.adobeconnect.com/gatekeeper-shareholder/.
Selected Financial Information
For the three months ended | ||||||
November 30, 2025 | November 30, 2024 | |||||
Revenue | $ | 5,905,306 | $ | 7,283,636 | ||
Cost of Sales | $ | 3,220,196 | $ | 4,127,641 | ||
Gross Profit | $ | 2,685,110 | $ | 3,155,995 | ||
Gross Margin Percentage | 45% | 43% | ||||
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Expenses | $ | 4,255,342 | $ | 3,123,410 | ||
Operating Income (Loss) | $ | (1,570,232 | ) | $ | 32,585 | |
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Comprehensive Income (Loss) for the period | $ | (782,941 | ) | $ | 576,093 | |
Earnings (Loss) per share - |
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Basic | $ | (0.01 | ) | $ | 0.01 | |
Diluted | $ | (0.01 | ) | $ | 0.01 | |
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November 30, 2025 | August 31, 2025 | |||||
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Total Assets | $ | 42,037,278 | $ | 38,516,834 | ||
Total Liabilities | $ | 4,198,127 | $ | 12,419,113 | ||
Total Shareholders' Equity | $ | 37,839,151 | $ | 26,097,721 |
Full details of the financial reports and operating results for the first fiscal quarter ended November 30, 2025, are described in the Company's consolidated financial statements with accompanying notes and related Management's Discussion and Analysis, available on SEDAR+ at www.sedarplus.ca.
About Gatekeeper Systems Inc.
Gatekeeper is a leading provider of video and data solutions for a safer transportation environment for children, passengers, and drivers on public transportation fleets. Gatekeeper has provided solutions to more than 60 transit agencies and 3,500 school districts throughout North America and has installed more than 65,000 Mobile Data Collectors for customers which record video and data daily from over 200,000 onboard devices. The Company's hosted software applications facilitate AI-assisted video analytics for incident management and storage. The Company's Platform-as-a-Service (PaaS) business model is centered around the Mobile Data Collectors, which are the cornerstone of its data company transformation.
www.gatekeeper-systems.com
Contact Information:
Douglas Dyment
President & CEO
ddyment@gatekeeper-systems.com
(604) 864-6187
Cautionary Note Regarding Forward-Looking Statements: Certain statements made in this press release that are not historical facts are forward-looking statements and are subject to important risks, uncertainties and assumptions, both general and specific, which give rise to the possibility that actual results or events could differ materially from our expectations expressed in or implied by such forward-looking statements. As a result, we cannot guarantee that any forward-looking statement will materialize, and readers are cautioned not to place undue reliance on these forward-looking statements. For more exhaustive information on these risks and uncertainties, the reader should refer to the risk factors described in the management's discussion and analysis for the period ended November 30, 2025. The forward-looking statements contained in this press release represent our expectations as of the date hereof. We disclaim any intention and assume no obligation to update or revise any forward-looking statements. Forward-looking statements are presented for the purpose of providing information about management's current expectations and plans and allowing investors and others to obtain a better understanding of our anticipated operating environment. Readers are cautioned that such information may not be appropriate for other purposes. The Company undertakes no obligations to update or revise such statements to reflect new circumstances or unanticipated events as they occur, unless required by applicable law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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