Xtract One Posts 144% Fiscal Q4 Revenue Growth as Bookings Fall

Xtract One Technologies Inc. posted a 144% fiscal fourth-quarter revenue increase to C$8.17 million, while lower bookings and gross margin pointed to a mixed operating picture.

Revenue for the three months ended July 31 was up from C$3.35 million a year earlier. Deployments of the company’s Xtract One Gateway systems and revenue recognized from contractual backlog contributed to the increase. All amounts are in Canadian dollars.

New bookings, measured by total contract value, came to C$6 million, down from C$16.5 million in the prior-year quarter. Gross margin was 57%, compared with 71% a year earlier.

The quarterly net loss narrowed to C$1.49 million from C$3.51 million. Adjusted EBITDA, a non-IFRS measure, was negative C$662,000, compared with a negative C$2.70 million. Operating activities generated C$1.9 million in cash; the company used C$1 million in the same quarter a year earlier.

For fiscal 2026, which ended July 31, revenue rose 108% to C$28.82 million from C$13.85 million. The net loss narrowed to C$6.99 million from C$11.88 million, and adjusted EBITDA was negative C$3.51 million compared with negative C$8.62 million.

The company used C$3.53 million in operating activities over the full year. It ended July 31 with C$17.29 million in cash and no debt.

Contractual backlog stood at C$25.6 million on July 31, 66% above the C$15.5 million recorded a year earlier. Xtract One expects C$10.5 million of that backlog to be recognized as revenue over the next 12 months. The backlog figure excludes C$18.4 million in signed agreements awaiting installation.

Its AI-powered security systems are marketed to schools, hospitals, workplaces and manufacturing facilities.