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.
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.
SmallCapSteve started blogging in the Winter of 2009. During that time, he was able to spot many take over candidates and pick a variety of stocks that generated returns in excess of 200%. Today he consults with microcap companies helping them with capital markets strategy and focuses on industries including cannabis, tech, and junior mining.