Xtract One Announces Third Quarter Fiscal 2025 Results

Core Viewpoint - Xtract One Technologies Inc. reported a decrease in revenue for the third quarter of fiscal 2025 but maintains a strong backlog and positive outlook for future growth, driven by new product launches and significant orders [3][4]. Financial Performance - Consolidated revenue for the three months ended April 30, 2025, was $3.5 million, down from $4.7 million in the same period last year, attributed to delayed deployments [4][7]. - Gross profit for the quarter was $2.0 million, resulting in a gross profit margin of 57%, compared to a gross profit of $2.7 million and a margin of 58% in the prior-year period [4][7]. - Comprehensive loss for the quarter was $3.3 million, an increase from a loss of $2.7 million in the same period of fiscal 2024, reflecting reduced gross profit offset by lower operating costs [5][7]. Backlog and Orders - The total contractual backlog at the end of the third quarter was $15.4 million, up from $13.8 million in the prior-year period, excluding an additional $21.1 million of agreements pending installation [7]. - The company has $6.7 million in orders for its new Xtract One Gateway product, which is set to start shipping in July [3][7]. Operational Developments - Recent wins include contracts with the Colorado Rockies and an international entertainment giant, positioning the company favorably for the upcoming quarters [3][7]. - The company has conducted numerous demonstrations and trials across various sectors, including education, healthcare, and manufacturing [7]. Cash Flow and Financial Position - Cash and cash equivalents decreased to $1.9 million as of April 30, 2025, down from $8.6 million at the end of the previous fiscal year [16][17]. - The company reported a net loss of $8.4 million for the nine months ended April 30, 2025, compared to a loss of $8.7 million for the same period in 2024 [17].