Gatekeeper To Install Tech Into 120 School Buses Under Latest Contract

FULL DISCLOSURE: The Deep Dive is long the equity of Gatekeeper Systems.

Gatekeeper Systems (TSXV: GSI) continues to expand its business, announcing this morning that it has signed a contract in a new school district in California.

The new contract will see Gatekeeper equip a fleet of school buses under the platform-as-a-service model. An estimate 120 school buses will be equipped with Gatekeeper’s mobile data collectors, along with internal video and external 360 surround video.

The arrangement is also expected to see a subscription to Gatekeeper’s hosted service offerings, comprising of video analytics, beginning July 1, adding a layer of recurring revenue to its operation. Doug Dyment, CEO of Gatekeeper, estimates that 1,000 of the 50,000 mobile data collectors it has installed have now entered into a contract under the subscription model, boosting the revenue profile of the company.

“Approximately 350 of California’s 977 school districts now rely on Gatekeeper’s video and data product suite to provide a safer transportation environment for children on their way to and from school. We highlight this contract as an example of how school districts are not only equipping their entire fleet with both internal and external video but are also embracing our wireless connectivity and video analytics offerings that we have purposefully designed,” commented Dyment.

Financial details of the contract were not provided.

The development follows Gatekeeper recently reporting its first quarter financial results, wherein it posted $2.3 million in net income on record revenue of $9.8 million.


FULL DISCLOSURE: Canacom Group, the parent company of The Deep Dive is long the equity of Gatekeeper Systems. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.

Video Articles

When 4% of Global Copper Disappears Overnight | David Gower – Emerita Resources

Mining M&A: Gold X2 Acquires Kesselrun Resources

They Said Oil Was Dead. They Were Wrong. | Michael Judson – Record Resources

Recommended

Military Seizes Power in Madagascar After President Flees

Altamira Gold Hits 395.5 Metres Of 0.4 g/t Gold At Maria Bonita

Related News

Gatekeeper Systems Posts Record $37.8M Revenue In Fiscal 2024

Gatekeeper Systems Inc. (TSXV: GSI) this morning announced record financial results for the fiscal year...

Friday, December 20, 2024, 12:58:00 PM

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 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...

Monday, December 19, 2022, 09:31:45 AM

Gatekeeper Systems Signs $1.9 Million Contract To Upgrade School District’s Bus Fleet

Gatekeeper Systems (TSXV: GSI) continues to expand upon relationships with existing customers. The firm this...

Thursday, November 17, 2022, 03:04:00 PM

Gatekeeper Systems: The Massive Q1 Revenue Jump

In our latest interview, Doug Dyment, CEO of Gatekeeper Systems Inc. (TSXV: GSI), sits down...
Sunday, February 4, 2024, 11:47:00 AM