Xtract One gets $2.6-million (U.S.) follow-on order

Executive Summary

• Xtract One Technologies Inc. has secured a $2.6 million (U.S.) follow-on contract to expand its SmartGateway deployment at a major international entertainment organization's venue.
• This new three-year agreement extends the company's 2023 installation at the same location, demonstrating customer satisfaction and validating the product's fit for international markets.
• The initial deal for the same venue totaled over $5.1 million (U.S.), covering hardware, software, installation, and support.

Key Details

• Contract Value: $2.6 million (U.S.) for the new expansion phase.
• Contract Duration: Three years, with deployment planned for 2026 to align with the client's scheduled expansion and enhancement activities.
• Previous Contract Value: The initial three-year deal totaled over $5.1 million (U.S.).
• Scope of Work: Includes hardware, software, installation, and support components for the SmartGateway system.
• Client Profile: A major international entertainment organization with a venue that hosts more than 25 million patrons annually.
• Strategic Impact: The expansion reinforces Xtract One's commitment to international growth, serves as a strong reference account, and highlights the efficacy of their weapons detection technology on a global scale.
• Product Focus: The deployment addresses critical security needs, specifically accurate knife detection, within world-class destinations.

Notable Quotes

• "Working together for two years now, we're honoured to continue strengthening our partnership with this landmark destination to further showcase the efficacy of our weapons detection technology on a global scale," said Peter Evans, chief executive officer of Xtract One.
• "International growth is a core focus for us, and this expansion project -- with such a prominent organization -- underscores the value of our solutions for key players around the world, provides another strong reference account, and ensures the safety and outstanding experiences for the more than 25 million patrons who visit the venue annually. I believe is the single largest deployment of any solution globally."