A growing weapons detection company on a path to profitability
Xtract One Technologies (TSX:XTRA), a growing provider of AI-enabled weapons detection solutions, will begin shipping units of its new Xtract One Gateway device in July to five separate customers
The company has grown revenue by more than 8 times since 2020 and decreased net losses annually since 2022
Xtract One Technologies is a technology company specializing in threat detection and security for schools, hospitals, arenas, stadiums, manufacturing and distribution, among other markets
Xtract One stock is up by 8.89 per cent year-over-year but remains down by 56.64 per cent since 2020
Xtract One Technologies (TSX:XTRA), a growing provider of AI-enabled weapons detection solutions, will begin shipping units of its new Xtract One Gateway device in July to five separate customers.
The orders, valued at about C$6.7 million, follow the product's certification in both the U.S. and Canada, with additional markets expected to open up in Q3 driven by trials and demonstrations with potential clients spanning education, healthcare, manufacturing and distribution.
The Xtract One Gateway scans patrons and their belongings in a continuous fashion as they walk through the device, dynamically differentiating between larger, mass-casualty weapons and everyday items such as laptops, keys and phones, learning from its environment and dramatically reducing wait times by up to four times compared to physical bag checks.
The news follows Xtract One's stellar Q2 2025 marked by a record backlog of C$37.2 million, a quarterly record of C$13.5 million in new contract bookings and management's confidence in the company's path to profitability.
The company grew revenue from C$2.07 million in F2020 to C$16.36 million in F2024, while reducing net losses from C$39.72 million in F2022 to C$11.06 million in F2024, with operations on track to extend this trend in 2025. Leadership insights
'I'm pleased to say that market response to the demonstrations of Xtract One Gateway has been strong. Shipments are set to begin shortly, and demand continues to rise as we work on additional contracts following customer engagement,' Peter Evans, Xtract One Technologies' chief executive officer, said in a statement. 'We've shown our unique threat-detection capabilities to dozens of companies and are excited to see this product put to use in the very near future in multiple applications and markets. After experiencing Xtract One Gateway, potential clients are thrilled at the way we can improve overall efficiency and safety by accurately, and quickly, alerting staff to dangerous items instead of just anything made of metal. The future of threat-detection starts now.' About Xtract One Technologies
Xtract One Technologies is a technology company specializing in threat detection and security for schools, hospitals, arenas, stadiums, manufacturing and distribution, among other markets.
Xtract One stock (TSX:XTRA) is up by 4.26 per cent trading at C$0.49 as of 9:44 am ET. The stock is up by 8.89 per cent year-over-year but remains down by 56.64 per cent since 2020.
Join the discussion: Find out what everybody's saying about this weapons detection stock on the Xtract One Technologies Inc. Bullboard and check out the rest of Stockhouse's stock forums and message boards.
The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Toronto Star
44 minutes ago
- Toronto Star
Corus Entertainment shakes up management, reverts to single CEO
TORONTO - Corus Entertainment Inc. will once again be led by a sole chief executive officer after one of the two men holding that title stepped down. Co-CEO Troy Reeb is moving on from the company after more than 25 years. John Gossling, who had been co-CEO and chief financial officer, is to take on the top job solo. Gossling will also continue to serve as chief financial officer on an interim basis. ARTICLE CONTINUES BELOW Lead independent director Mark Hollinger says the switch-up was due to the evolving industry landscape as well as the company's efforts to get its finances in order. Corus owns 30 specialty television services, 36 radio stations and 15 conventional television stations, as well as digital and streaming platforms. In April, the company reported a loss in its second quarter as its revenue fell 10 per cent compared with a year ago. This report by The Canadian Press was first published June 4, 2025. Companies in this story: (TSX: CJR. B)
Cision Canada
12 hours ago
- Cision Canada
Royal Bank of Canada announces NVCC AT1 Limited Recourse Capital Notes issue Français
TORONTO, June 4, 2025 /CNW/ - Royal Bank of Canada (TSX: RY) and (NYSE RY) today announced the offering of US$1.25 billion of non-viability contingent capital (NVCC) Additional Tier 1 (AT1) Limited Recourse Capital Notes, Series 6 (the "LRCNs"). The securities offered are registered with the U.S. Securities and Exchange Commission (the "SEC"). The LRCNs will bear interest at a rate of 6.750 per cent annually, payable quarterly, for the initial period ending August 24, 2030. Thereafter, the interest rate on the LRCNs will reset every five years at a rate equal to the prevailing 5-year U.S. Treasury Rate plus 2.815 per cent. The LRCNs will mature on August 24, 2085. The expected closing date of the offering is June 11, 2025, subject to customary closing conditions. RBC Capital Markets, Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and UBS Securities LLC are the joint book-running managers for the offering. Concurrently with the issuance of the LRCNs, the bank will issue NVCC Non-Cumulative 5-Year Fixed Rate Reset First Preferred Shares, Series BY ("Preferred Shares Series BY") to be held by Computershare Trust Company of Canada as trustee for Leo LRCN Limited Recourse Trust TM (the "Limited Recourse Trust"). In case of non-payment of interest on or principal of the LRCNs when due, the recourse of each LRCN holder will be limited to that holder's proportionate share of the Limited Recourse Trust's assets, which will consist of Preferred Shares Series BY except in limited circumstances. The bank may redeem the LRCNs on August 24, 2030 and on each February 24, May 24, August 24, and November 24 thereafter, only upon the redemption by the bank of the Preferred Shares Series BY held in the Limited Recourse Trust, in accordance with the terms of such shares and with the prior written approval of the Superintendent of Financial Institutions (Canada), in whole on not less than 10 nor more than 60 days' prior notice. Net proceeds from this transaction will be used for general business purposes. A registration statement relating to the offering has been filed with the SEC and is effective. The offering is being made only by means of a prospectus supplement and a base prospectus. Copies of the preliminary prospectus supplement and the base prospectus for the offering may be obtained free of charge by visiting EDGAR on the SEC's website at Alternatively, you may obtain copies of the final prospectus supplement, when available, and the base prospectus for this offering by contacting RBC Capital Markets, LLC, by calling (866)-375-6829, or by e-mailing [email protected]. This press release is for informational purposes only and does not constitute an offer to sell, or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. For further information, please contact: Investor Contact: Asim Imran, Investor Relations, [email protected], 416-955-7804 Media contact: Gillian McArdle, Financial Communications, [email protected], 416-842-4231 SOURCE Royal Bank of Canada
Cision Canada
12 hours ago
- Cision Canada
OceanaGold Reports Voting Results from its 2025 Annual General and Special Meeting
VANCOUVER, BC, June 4, 2025 /CNW/ - OceanaGold Corporation (TSX: OGC), (TSX: OTCQX) (TSX: OCANF) ("OceanaGold" or the "Company") is pleased to report the voting results from the Company's 2025 Annual General and Special Meeting of Shareholders (the "Annual Meeting") held today. A total of 538,458,035 common shares were voted at the meeting, representing 77.12% of the votes attached to all outstanding common shares. Shareholders voted in favour of each of the items of business at the Annual Meeting as follows: Election of Directors Resolutions electing each of the director nominees listed in OceanaGold's Management Information Circular dated April 23, 2025 as directors of the Company were passed by ordinary resolution. Detailed results of the vote for each director are set out in the table below: Share Consolidation A special resolution approving the consolidation of all issued and outstanding common shares of the Company on a consolidation ratio of up to three (3) pre-consolidation common shares for one (1) post-consolidation common share (the "Consolidation") was passed. The Company is exploring the benefits of a dual listing of its common shares on a major U.S. exchange, including the New York Stock Exchange, for a potential listing in the first half of 2026. The Company believes a U.S. listing could lead to increased interest by a wider audience of potential investors and result in increased marketability and trading liquidity. The principal reason for the Consolidation is to raise the per share trading price of the common shares in order to better comply with minimum trading price requirements of such exchanges. Subject to approval by the Toronto Stock Exchange, OceanaGold expects the Consolidation to be effective on or around June 23, 2025, and intends to issue a detailed press release to provide a further update and final details on the Consolidation. Appointment of Auditor A resolution appointing PricewaterhouseCoopers LLP (PWC Canada) as the auditor of the Company for the ensuing year and authorizing the board of the Company to fix their remuneration was passed. Advisory Vote on Executive Compensation A non-binding resolution on the Company's approach to executive compensation was passed. Virtual-Only Meetings A resolution approving the Company to hold the 2026 Annual General Meeting of Shareholders exclusively in a virtual-only format was passed. Amendments to the Company's Articles A special resolution approving amendments to the Company's articles was passed. About OceanaGold OceanaGold is a growing intermediate gold and copper producer committed to safely and responsibly maximizing the generation of Free Cash Flow from our operations and delivering strong returns for our shareholders. We have a portfolio of four operating mines: the Haile Gold Mine in the United States of America; Didipio Mine in the Philippines; and the Macraes and Waihi operations in New Zealand. Cautionary Statement for Public Release This press release contains certain "forward-looking statements" and "forward-looking information" (collectively, "forward-looking statements") within the meaning of applicable Canadian securities laws which may include, but is not limited to, statements with respect to the Company being listed on a major U.S. exchange, including such dual listing leading to increased interest by a wider audience of potential investors, increased marketability and trading liquidity and the expected timing for such listing, and the anticipated timing and effects of the completion of the Consolidation. Forward-looking statements and information relate to future performance and reflect the Company's expectations regarding the generation of Free Cash Flow, execution of business strategy, future growth, future production, estimated costs, results of operations, business prospects and opportunities of OceanaGold and its related subsidiaries. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "estimates" or "intends", or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those expressed in the forward-looking statements. They include, among others, those risk factors identified in the Company's most recent Annual Information Form prepared and filed with securities regulators which is available on SEDAR+ at under the Company's name and on the Company's website. There are no assurances the Company can fulfil forward-looking statements. Such forward-looking statements are only predictions based on current information available to management as of the date that such predictions are made; actual events or results may differ materially as a result of risks facing the Company, some of which are beyond the Company's control. Although the Company believes that any forward-looking statements contained in this press release is based on reasonable assumptions, readers cannot be assured that actual outcomes or results will be consistent with such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements and information, whether as a result of new information, events or otherwise, except as required by applicable securities laws.
