(MENAFN- GlobeNewsWire - Nasdaq) Total Backlog Over $53 Million; On Track for Strong Revenue Growth in Year AheadTORONTO, Dec. 03, 2025 (GLOBE NEWSWIRE) -- Xtract One Technologies Inc. (TSX: XTRA) (OTCQX: XTRAF) (FRA: 0PL) (“Xtract One” or the“Company”) a leading technology-driven threat detection and security solution that prioritizes the patron access experience by leveraging AI, today announced its fiscal first quarter results for the three months ended October 31, 2025. All information is in Canadian dollars unless otherwise indicated.
Recent Highlights
Revenue of $4.6 million for the three months ended October 31, 2025 versus $3.6 million in the prior-year period.
Gross margin of 58% for the fiscal 2025 first quarter versus 64% for the same period last year.
Operating expenses of $5.7 million for the three months ended October 31, 2025 versus $5.3 million in the prior-year period.
Total contract value of new bookings1 was $8.4 million for the three months ended October 31, 2025 as compared to $4.2 million for the same period last year.
Contractual backlog was $14.1 million at the end of the first quarter as compared to $14.0 million in the prior-year period, excluding an additional $39.1 million of agreements pending installation versus approximately $12.9 million at the end of the first quarter of fiscal 2025.
Comprehensive loss was $3.0 million for the three month period ended October 31, 2025 as compared to $2.7 million for the same period in fiscal 2025.
Subsequent to the quarter ended October 31, 2025, the Company successfully closed a public offering and raised aggregate gross proceeds of $11.5 million, including the full exercise of an over-allotment option. Each unit purchased consisted of one common share of the Company and one-half of a common share purchase warrant, exercisable into common shares until November 10, 2028 at an exercise price of $0.95.
“We continued to build momentum in the first quarter, as we once again increased our backlog to a record of over $53 million, bolstering our outlook for fiscal 2026 and beyond,” stated Peter Evans, Chief Executive Officer of Xtract One.“We successfully ramped up commercial deployment of Xtract One Gateway, following first shipments in Q4, and are experiencing higher-than-anticipated demand for this solution, as evidenced by new bookings in the quarter from seven customers worth $5.1 million. We have been actively working with our manufacturing partner to increase production capacity to address current and forecasted demand for Xtract One Gateway by the end of the second quarter of fiscal 2026. In addition, while gross margins have been negatively impacted, as expected, due to higher costs related to the initial production and installation of Xtract One Gateway, we expect margins to improve with broader commercial deployment in the second half of fiscal 2026. Subsequent to the quarter, we successfully completed a public offering that raised gross proceeds of over $11.5 million, further strengthening our ability to meet customer demand, invest in business development and, ultimately, accelerate top line growth. We are in the best position to make 2026 a transformational year for Xtract One, and the team and I couldn't be more optimistic about the future.”
Financial Results for the Three Month Period Ended October 31, 2025
Consolidated revenue was $4.6 million for the three months ended October 31, 2025 as compared to $3.6 million for the same period last year reflecting the first commercial deployments of Xtract One Gateway. Gross profit was $2.7 million, or a gross profit margin of 58%, for the three months ended October 31, 2025 versus $2.3 million, or a gross profit margin of 64%, in the prior-year period owing to the initial production and installation costs of Xtract One Gateway.
Comprehensive loss was $3.0 million for the three month period ended October 31, 2025 as compared to $2.7 million for the same period in fiscal 2025, mainly from unrealized, non-cash foreign currency translation adjustments.
This press release should be read in conjunction with the Company's Unaudited Condensed Consolidated Interim Financial Statements, prepared in accordance with International Financial Reporting Standards (“IFRS”) and the Company's Management's Discussion and Analysis for the three month periods ended October 31, 2025 and 2024, which can be found on the Company's website and under the Company's profile on SEDAR+ at .
Conference Call Details
Xtract One will host a conference call to discuss its results tomorrow, December 4, 2025 at 10:00 am EST. Peter Evans, Xtract One CEO and Director, and Karen Hersh, CFO and Corporate Secretary, will provide an overview of the financial results along with management's outlook for the business, followed by a question-and-answer period.
The webcast and presentation will be accessible on the company's website. The webcast can be accessed here and the telephone number for the conference call is 844-481-3016 (412-317-1881 for international callers).
About Xtract One Technologies
Xtract One Technologies is a leading technology-driven threat detection and security solution leveraging AI to provide seamless and secure patron access control experiences. The Company makes unobtrusive weapons and threat detection systems that are designed to assist facility operators in prioritizing- and delivering improved“Walk-right-In” experiences while enhancing safety. Xtract One's innovative portfolio of AI-powered Gateway solutions excels at allowing facilities to discreetly screen and identify weapons and other threats at points of entry and exit without disrupting the flow of traffic. With solutions built to serve the unique market needs for schools, hospitals, arenas, stadiums, manufacturing, distribution, and other customers, Xtract One is recognized as a market leader delivering the highest security in combination with the best individual experience. For more information, visit or connect on Facebook, X, and LinkedIn.
About Threat Detection and Security Solutions
Xtract One solutions, when properly configured, deployed, and utilized, are designed to help enhance safety and reduce threats. Given the wide range of potential threats in today's world, no threat detection system is 100% effective. Xtract One solutions should be utilized as one element in a multilayered approach to physical security.
For further information, please contact:
Xtract One Inquiries: ...,
Media Contact: Kristen Aikey, JMG Public Relations, 212-206-1645, ...
Investor Relations: Chris Witty, Darrow Associates, 646-438-9385, ...
1 Supplementary Financial Measures:
The Company utilizes specific supplementary financial measures in this earnings release to allow for a better evaluation of the operating performance of the Company's business and facilitates meaningful comparison of results in the current period with those in prior periods and future periods. Supplementary financial measures do not have any standardized meaning prescribed under IFRS and therefore may not be comparable to measures presented by other companies. Supplementary financial measures presented in this earnings release include 'Agreements pending installation' and 'Total contract value of new bookings.' Agreements pending installation reflects total value of signed contracts awarded to the Company that has not been installed at the customer site. 'Total contract value of new bookings' is comprised of all new contracts signed and awarded to the Company, regardless of the performance obligations outstanding as of the end of the reporting period. Total contract value is the aggregate value of sales commitments from customers as at the end of the reporting period without consideration of the Company's completion of the associated performance obligations outlined in each contract.
CAUTIONARY DISCLAIMER STATEMENT:
This news release contains forward-looking statements within the meaning of applicable securities laws that are not historical facts. Forward-looking statements are often identified by terms such as“will”,“may”,“should”,“anticipates”,“expects”,“believes”, and similar expressions or the negative of these words or other comparable terminology. All statements other than statements of historical fact, included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include but are not limited to the risks detailed from time to time in the continuous disclosure filings made by the Company with securities regulations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements only as expressly required by applicable law.
No securities exchange or commission has reviewed or accepts responsibility for the adequacy or accuracy of this release.
Unaudited Interim Statements of Loss and Comprehensive Loss for the Three Months Ended October 31, 2025 and 2024
The following table is extracted from the Company's unaudited condensed consolidated interim financial statements and presented in Canadian dollars to demonstrate the Statements of Loss and Comprehensive loss for the three month periods ended October 31, 2025 and 2024:
The following table is extracted from the Company's unaudited condensed consolidated interim financial statements and presented in Canadian dollars to demonstrate the Company's financial position as at October 31, 2025 and July 31, 2025:
The following table is extracted from the Company's unaudited condensed consolidated interim financial statements and presented in Canadian dollars to demonstrate the Company's cash flows for the three month periods ended October 31, 2025 and 2024:
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