3 days ago
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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.
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