Gatekeeper Commences $27M LIRR Project, Provides Anticipated Revenue Schedule

Executive Summary

• Gatekeeper Systems Inc. has begun work on a US$19.55 million (C$27 million) FRA transit video project for the New York Metropolitan Transportation Authority’s Long Island Rail Road – its largest‑ever contract.
• The company provided a detailed multi‑year revenue recognition schedule, projecting $3.8 M in FY 2026, $12.3 M in FY 2027 and $3.4 M in FY 2028.
• Management highlighted that the schedule is based on current estimates and may change with project delivery progress or auditor review.

Key Details

• Project Scope: FRA transit video solution for LIRR, valued at US$19.55 million (C$27 million).
• Revenue Recognition Schedule (USD):
• FY ending Aug 31 2026 – $3.8 M (Q2: $0.2 M; Q3: $0.9 M; Q4: $2.7 M)
• FY ending Aug 31 2027 – $12.3 M (H1: $5.8 M; H2: $6.5 M)
• FY ending Aug 31 2028 – $3.4 M (H1: $3.3 M; H2: $0.1 M)
• Significance: Largest contract to date for Gatekeeper, expected to materially boost revenue in upcoming fiscal years.
• Management Commentary: Schedule provided “to assist analysts and investors” and is based on current management estimates; actual timing may differ due to delivery schedule changes or auditor review.

Notable Quotes

“The Project represents the Company's largest‑ever contract and the anticipated revenue recognition schedule is provided to assist analysts and investors.” – Douglas Dyment, President & CEO

Materiality Assessment: Material – Positive (the announcement of a major new contract and detailed forward‑looking revenue expectations are likely to influence investor perception and valuation).