Gatekeeper Reports $31.8M Revenue in Fiscal 2025

Core Insights - Gatekeeper Systems Inc. reported its audited financial results for the fourth quarter and fiscal year ended August 31, 2025, highlighting a transformational year with strategic investments to pursue larger contracts and customers [1][3]. Fiscal 2025 and Recent Business Highlights - The company made significant investments in engineering, cybersecurity, and project management, which facilitated winning its largest-ever transit contract with North America's largest transit agency and a major school bus contract [3][4]. - Gatekeeper expanded its sales team and attended 66 industry trade shows, focusing on monthly-recurring hosted services, resulting in 4,000 Mobile Data Collectors (MDCs) connected to the data center by August 31, 2025 [3][4]. Financial Performance - Revenue for the fiscal year ended August 31, 2025, was $31.8 million, a decrease from $37.8 million in the prior fiscal year, primarily due to the absence of a large $9 million transit contract from the previous year; excluding this, regular business grew approximately 10% [6][7]. - Gross profit for the fiscal year was $13.1 million, with a gross margin of 41%, down from 46% in the prior year [6][7]. - Operating expenses increased to $16.9 million from $13.0 million in the previous year, leading to a total comprehensive loss of $3.0 million compared to a profit of $1.9 million in the prior year [6][7]. Business Development - The company announced $43.8 million in new business contracts after August 31, 2025, including a $27 million transit video contract with New York MTA's Long Island Rail Road and a $9.3 million school bus video contract [7]. - Approximately 8,000 MDCs were installed during the fiscal year, bringing total installations to around 65,000, with 4,000 subscriptions for video management and hosted services since the launch of the data center in February 2024 [7]. Financial Position - As of August 31, 2025, the company had working capital of $23.6 million, including cash of $14.8 million, and completed a financing generating gross proceeds of $13.5 million [7]. - The company also has a $6 million Credit Facility and a $7.5 million Letter of Credit Facility with TD Bank, both undrawn as of August 31, 2025 [7].