Welcome to our dedicated page for Xtract One Technologies news (Ticker: XTRAF), a resource for investors and traders seeking the latest updates and insights on Xtract One Technologies stock.
The Xtract One Tech Inc (XTRAF) news page aggregates company announcements and disclosures related to Xtract One Technologies, a technology-driven provider of AI-powered threat detection and security solutions. Here, readers can review updates on product deployments, customer wins, financial performance, and corporate events that shape the company’s development in the physical security sector.
Recent news has highlighted the selection and deployment of the company’s Gateway and SmartGateway systems by healthcare providers and school districts. These stories describe how organizations use Xtract One’s weapons and threat detection systems to help protect patients, staff, students, and visitors while maintaining a welcoming environment. Announcements also cover trials and measured results, such as the number of individuals screened and prohibited items detected over defined periods.
Investors and observers can also find financial results releases detailing revenue, gross margin, operating expenses, contractual backlog, and total contract value of new bookings, as well as commentary from management on demand for Gateway solutions across markets like education, healthcare, and manufacturing or commercial enterprises. Additional items include notices of conference calls, participation in investment conferences, and shareholder meeting outcomes.
By following this news feed, users can see how Xtract One is positioning its AI-powered Gateway and SmartGateway products, how customers in different sectors are adopting these systems, and how the company describes its financial and operational progress. This page can be revisited whenever new releases are issued to track ongoing developments related to the XTRAF-linked business.
Xtract One Technologies announced that its AI-powered SmartGateway system has successfully completed an operational test and evaluation by National Safe Skies Alliance at Oakland International Airport. Safe Skies, an independent, FAA-funded organization, evaluated SmartGateway's effectiveness under active airport conditions, confirming its ability to enhance security without compromising passenger comfort. This system replaces traditional metal detectors with sensors that discreetly and accurately detect weapons and prohibited items, expediting the screening process. The evaluation report, published in May 2024, is available to qualified airport personnel.
Xtract One Technologies (TSX: XTRA, OTCQX: XTRAF) has been chosen to secure entrances at Amerant Bank Arena, Baptist Health IcePlex, and FTL War Memorial. These venues, associated with the NHL’s Florida Panthers, will deploy the AI-driven SmartGateway over the next year to enhance security and improve the patron experience. Amerant Bank Arena, Florida’s largest indoor arena, attracts 30 million visitors annually. The Panthers' COO highlighted the collaboration's goal to set new standards in fan safety and enjoyment. Xtract One's CEO emphasized the focus on creating a seamless, protected environment.
Xtract One has reported record third-quarter fiscal 2024 results, with revenue reaching $4.7 million, up from $0.9 million in the same period last year. This significant increase is attributed to new customer wins and higher installations. Gross margin for the platform segment remained steady at 60%. The company also announced $9.5 million in new bookings, a $13.8 million platform contractual backlog, and $12.8 million in pending agreements. Xtract One raised $9.8 million through a public equity offering and private placement, including participation from MSG Sports. The company received the DHS SAFETY Act Designation, enabling sales to major organizations like the NHL and MLB. Despite a comprehensive loss of $2.7 million, this marks an improvement from last year's loss of $3.8 million, driven by higher platform revenue and controlled operating expenses.
Xtract One Technologies (TSX: XTRA, OTCQX: XTRAF, FRA: 0PL) has secured contracts with NBA, MLB, and NHL teams following its recent U.S. DHS SAFETY Act designation for its SmartGateway technology. This tech, which utilizes AI to enhance patron security and experience, was chosen for its ability to seamlessly integrate into high-traffic venues. The selection process included rigorous evaluations validating Xtract One's position as a leader in security solutions. The QATT certification was pivotal in vendor selection, demonstrating the efficacy of their anti-terrorism measures. CEO Peter Evans highlighted the accelerated business development post-certification and the growing demand for innovative security solutions.
Xtract One Technologies will release its fiscal 2024 third quarter results on June 6, 2024, after trading closes. The following day, June 7, 2024, at 10:00 a.m. Eastern Time, CEO Peter Evans and CFO Karen Hersh will host a webcast and conference call to discuss the results for the three and nine months ending April 30, 2024. The event will be accessible on the company's website, where management will provide an overview of the interim financial results and offer insights into future business outlook, followed by a Q&A session.
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