Gatekeeper Reports $20M Top Line Revenue for FY2022; 16% Growth

This morning Gatekeeper Systems (TSXV: GSI) released their 2022 fiscal full-year earnings. The company earned $1.9M in comprehensive income on the year, with $20M in top-line revenue on gross margins of 46%. The company’s FYQ4, which ended on August 31, 2022, represented the top revenue quarter in company history at $9.8M, an increase of 91% from $5.1M in the previous year.

The company stated in its news release, the highlights for the year included launching broadband Wi-Fi on school buses for enhanced distance learning, installing 5,529 mobile data collectors in the year, and $13M in aggregate video upgrade contracts.

At the end of their fiscal 2022 year, Gatekeeper has $11.2M in working capital with a sales backlog of $5.6M plus an additional $6M in contracts which has been announced subsequently. This includes a $4M contract upgrade from SEPTA announced last week.

CEO Doug Dyment joined Cassandra Leah on the Daily Dive last May.

Shares of Gatekeeper last traded at 21.5c on the TSX Venture.

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