Record FQ3 2026 Results with $12.5M Revenue, 68% Growth, and $2.4M Adjusted EBITDA.
Abbotsford, BC – July 21, 2026 – Gatekeeper Systems Inc. (“Gatekeeper” or the “Company”) (TSX-V:GSI, OTC:GKPRF) a leader in video and data solutions for school buses, public transit and smart cities, reports its financial results for the three and nine months ended May 31, 2026, and announces corresponding conference call details. Unless otherwise specified, all dollar amounts in this press release are denominated in Canadian dollars.
FISCAL Q3 2026 AND RECENT BUSINESS HIGHLIGHTS:
Approximately $73 million in new business contracts announced during the current fiscal year, of which $14 million has been recorded as revenue during the nine months ended May 31, 2026.
Revenue for the three-month period ended May 31, 2026 was the Company’s highest-ever quarter revenue, increasing 68% to $12.5 million compared to $7.5 million in the prior year.
Revenue for the nine-month period ended May 31, 2026 increased 39% to $28.8 million compared to $20.7 million in the prior year.
Gross profit for the three and nine months was $6.7 million and $13.8 million respectively compared to $3.7 million and $9.1 million in the prior year comparable periods, representing an increase in gross profit of 82% and 51% respectively.
Gross margin as a percentage of revenue for the three and nine months was 53% and 48% respectively compared to 49% and 44% in the prior year comparable periods.
Operating expenses for the three and nine months were $4.6 million and $13.0 million respectively compared to $3.7 million and $10.5 million in the prior year comparable periods, representing an increase in operating expenses of 23% and 24% respectively.
Adjusted EBITDA for the three and nine months was $2.4 million and $1.5 million respectively compared to $0.2 million and $(0.7) million in the prior year comparable periods.
At May 31, 2026, the Company had no borrowed money debt and working capital of $37.5 million, including cash of $7.2 million and inventory of $17.4 million. Inventory has increased to $17.4 million, from $5.2 million in the prior year comparable period, in correspondence with new business contracts announced during the current fiscal year. 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 May 31, 2026.
MANAGEMENT COMMENTARY
Doug Dyment, President and CEO of Gatekeeper, commented, “Fiscal Q3 2026 represents the strongest quarter in our operating history. To date during this fiscal year, we have announced approximately $73 million in new business contracts, of which approximately $14 million has been recognized as revenue during the nine-month period, portraying the strongest revenue backlog in the Company’s history.
The majority of the revenue growth this quarter was from the school bus segment, where we have been gaining solid traction with our new software offering for video analysis and storage. Several school districts are now turning to Gatekeeper for full-fleet video upgrades and monthly subscriptions to our data center. In fact, all the $15 million worth of new business contracts that we have announced during this fiscal year in the school bus segment have included data center subscriptions, and many of these contracts are with new customers. Our recent announcements, such as the $1.7 million contract for Atlanta Public Schools to install Live View Wireless, or the full fleet upgrades for school districts in Delaware and California, provide continued confirmation of the effectiveness of our business strategy.
In the transit segment, we recently announced a new comprehensive video services contract for SEPTA’s 3,000 vehicles, for an initial three-year period and optionally up to five years, representing an aggregate value of $19 million. We also commenced a $2.8 million transit project in Oregon which includes OEM factory installation on certain transit buses. Our largest transit contract, being the $27 million project for Long Island Rail Road, has commenced but contributed very little revenue impact in this record-breaking quarter…….
Link: www.gatekeeper-systems.com/...rvices-contract-over-5-years-2/