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Earnings

Xtract One Announces Fiscal 2026 Second Quarter Results

By The Northwire Desk — AI Analysis Mar 04, 2026 · 17:28 XTRA · 0.52 XTRACT ONE TECHNOLOGIES INC. J
XTRA · Price

Executive Summary

  • Xtract One reported Q2 FY‑2026 revenue of C$5.8 M, a 70% increase year‑over‑year, but posted a comprehensive loss of C$2.4 M.
  • The company closed a public offering raising C$11.5 M in gross proceeds (units consisting of one common share + ½ warrant at $0.95 exercise price).
  • Cash and cash equivalents rose to C$15.7 M, providing liquidity for “general corporate purposes” and growth acceleration; the firm also announced a new contract with the British Museum for its SmartGateway solution.

Key Details

  • Revenue: C$5,796,295 (Q2 FY‑2026) vs. C$3,412,189 (prior year).
  • Gross Margin: 54% (down from 70% YoY) – gross profit C$3,129,114.
  • Operating Expenses: C$5,434,555 (up from C$4,816,385 YoY).
  • Comprehensive Loss: C$2,381,708 for the quarter (vs. C$2,082,645 prior year).
  • New Bookings (TCV): C$8.7 M vs. C$13.5 M YoY.
  • Contractual Backlog: C$13.9 M at period end (down from C$16.7 M YoY), excluding pending installations of $34.9 M vs. $20.5 M prior year.
  • Financing: Public offering – total gross proceeds C$11.5 M; units = 1 common share + ½ warrant, warrant exercisable until 10 Nov 2028 at $0.95 per share. Full over‑allotment exercised.
  • Cash Position: End‑quarter cash & equivalents C$15,721,093, up from C$8,220,089 six months earlier.
  • Use of Proceeds: Stated as “general corporate purposes – including growth acceleration.”
  • New Contract: Selected by the British Museum to secure all venue entrances with SmartGateway solution; deployment pending.
  • Conference Call: Scheduled for 5 Mar 2026, 10:00 am EST (CEO Peter Evans & CFO Karen Hersh).

Notable Quotes

“With second quarter revenue in 2026 up 70% over the prior year quarter… we are on track for a strong year of performance… our balance sheet is in great shape to support enhanced business development activities…” – Peter Evans, CEO

Materiality Assessment: Material – Neutral (earnings release provides material financial information and financing details that could influence investor decisions).

Read the original news release →

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