Xtract One Technologies Inc.
TSX:XTRA
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Xtract One Technologies Inc.
TSX:XTRA
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Xtract One Technologies Inc.
Xtract One Technologies, Inc. engages in commercializing an integrated, layered, multi-sensor platform of technologies with the aim of enhancing public safety. The company is headquartered in Vancouver, British Columbia and currently employs 69 full-time employees. The company went IPO on 2012-05-10. The principal business of the Company is to commercialize an integrated, layered, multi-sensor platform of technologies. The firm operates through two segments: Platform and Xtract segment. The Platform segment develops and commercializes a platform of multi-sensor threat detection technologies. The Xtract segments develops and commercializes advanced artificial intelligence (AI) solutions for customers. Its AI threat detection gateway solution enables companies to covertly screen for weapons at points of entry without disrupting the flow of traffic. Its AI-based Video Recognition Software enables venue and building operators to identify weapons and other threats inside and outside of facilities, while also providing intelligence for optimizing operations.
Xtract One Technologies, Inc. engages in commercializing an integrated, layered, multi-sensor platform of technologies with the aim of enhancing public safety. The company is headquartered in Vancouver, British Columbia and currently employs 69 full-time employees. The company went IPO on 2012-05-10. The principal business of the Company is to commercialize an integrated, layered, multi-sensor platform of technologies. The firm operates through two segments: Platform and Xtract segment. The Platform segment develops and commercializes a platform of multi-sensor threat detection technologies. The Xtract segments develops and commercializes advanced artificial intelligence (AI) solutions for customers. Its AI threat detection gateway solution enables companies to covertly screen for weapons at points of entry without disrupting the flow of traffic. Its AI-based Video Recognition Software enables venue and building operators to identify weapons and other threats inside and outside of facilities, while also providing intelligence for optimizing operations.
Revenue: Q2 revenue was approximately $5.8 million, up 70% year‑over‑year and up 26% sequentially — management expects fiscal 2026 to be a record year.
Backlog: Contractual backlog plus signed agreements pending installation totaled $48.8 million (near‑record), with roughly $34.9 million of the total pending installation.
Margins: Gross margin was 54% in Q2 (down from 70% prior year) driven by Xtract One Gateway ramp costs; SmartGateway margins remain in the mid‑to‑high 60s while One Gateway is in the very low 50s but expected to improve.
Bookings & pipeline: Q2 bookings were $8.7 million (73% upfront contracts this quarter); qualified sales pipeline exceeds USD 105 million and is roughly split between the two products.
Cash & financing: Company closed a bought deal raising ~ $11.5 million; cash on hand at quarter end was $15.7 million but operating cash usage was $4.2 million in the quarter due to working capital buildup.
Supply & production: Manufacturing constraints are easing — suppliers are increasing throughput and management says there is no major gating factor today, though a few longer‑lead components are being safety‑stocked.
Commercial traction: Strong demand in North America with rising inbound interest in the U.K., Mexico and Europe (notable win: British Museum); education, health care, sports/entertainment, commercial and automotive cited as active markets.
Outlook: Management expects backlog conversion to accelerate over the coming quarters, most pending installations to deploy within 12 months, and One Gateway margins to converge toward SmartGateway margins over time.
