Gatekeeper Concludes $4.0 Million Contract, Expects Strong Q2 Results

Gatekeeper Systems (TSXV: GSI) is expecting to have a strong second quarter, with the firm reporting last night it has concluded a major contract.

The contract itself relates to a transit video upgrade contract signed in the fourth quarter. Valued at roughly $4.0 million, revenue from the contract is expected to be realized in the second fiscal quarter, for the period ended February 28, 2023.

The revenue is said to be in addition to the firms regular business.

For comparison purposes, Gatekeeper recognized revenues of $3.1 million for the second quarter of 2022, with a gross profit of $1.0 million. The most recent quarter meanwhile saw revenues of $4.9 million, and a gross profit of $1.5 million.

READ: Gatekeeper Expands Product Portfolio With AI Dash Cam

“This contract is one of the largest contracts in our Company’s history. We are very proud of our team’s execution within the short two-month time frame and during a period where we also continue to see growth in our regular business. We expect the CAD $4 million contract revenue will significantly bolster the Company’s second fiscal quarter revenue and we are very optimistic regarding the Company’s sales prospects and growth,” commented CEO Doug Dyment.

Gatekeeper Systems last traded at $0.205 on the TSX Venture.


FULL DISCLOSURE: Gatekeeper Systems is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover Gatekeeper Systems on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. We may buy or sell securities in the company at any time. Always do additional research and consult a professional before purchasing a security.

Video Articles

Why Copper Juniors Could Explode After This Trade War Move | Christian Easterday – Hot Chili

Silver Is Rarer Than Gold, And the Market’s Waking Up | Shawn Khunkhun – Dolly Varden Silver

Gold Will Hit North of $4,000: Who’s Actually Producing? | Shane Williams – West Red Lake

Recommended

ESGold Sees ANT Survey Reveal Vertically Continuous System To 1,200 Metres Depth

First Majestic Produces 7.9 Silver Equivalent Ounces In Q2, Lifts Production Guidance

Related News

Gatekeeper Systems Receives Purchase Order For $5.1 Million

Gatekeeper Systems (TSXV: GSI) has received a major contract this morning. The company has obtained...

Monday, May 9, 2022, 08:43:59 AM

Gatekeeper To Install Tech Into 120 School Buses Under Latest Contract

Gatekeeper Systems (TSXV: GSI) continues to expand its business, announcing this morning that it has...
Thursday, February 15, 2024, 08:41:25 AM

Gatekeeper Systems Signs Master Services Agreement With National Express

Gatekeeper Systems (TSXV: GSI) continues to execute upon its business strategy. The firm this morning...

Wednesday, June 1, 2022, 08:46:03 AM

Gatekeeper Systems Posts Q2 Revenues Of $9.7 Million

Gatekeeper Systems (TSXV: GSI) this morning is reporting that it has seen one of its...

Wednesday, April 19, 2023, 09:02:28 AM

Gatekeeper Systems Expands Alliance In State Of Arizona, Secures Contract

Gatekeeper Systems (TSXV: GSI) is expanding to another state within the US. The firm this...

Tuesday, April 12, 2022, 09:02:35 AM