Xtract One Technologies Inc.
TSX:XTRA
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 Growth: Xtract One reported first quarter revenue of $4.6 million, up from $3.6 million last year, and expects sequential growth with revenue back-end loaded for fiscal 2026.
Record Backlog: The company's total backlog reached a new high of $53.2 million, nearly doubling from $26.9 million last year, driven by strong demand for Xtract One Gateway, especially in education.
Bookings Surge: New bookings were $8.4 million in Q1, double the $4.2 million from the prior year, with around 60% of bookings from the Xtract One Gateway and over half from the education sector.
Gross Margin Dip: Gross margin was 58%, down from 64% last year, due to initial costs of Xtract One Gateway production, but management expects improvement as volumes rise.
Production Capacity: Demand for Xtract One Gateway is exceeding current manufacturing capacity, prompting the company to double production by the end of Q2.
Strong Balance Sheet: The company ended the quarter with $9.1 million in cash, then raised an additional $11.5 million through a public offering in November to fuel growth.
Outlook: Management anticipates continued backlog growth, accelerating revenue, and progress toward cash flow breakeven in the near term.
