New Risk • May 28
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: CA$137.8m (US$99.4m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 27% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (18% increase in shares outstanding). Market cap is less than US$100m (CA$137.8m market cap, or US$99.4m). Reported Earnings • Apr 29
Second quarter 2026 earnings released Second quarter 2026 results: Net income: (up CA$1.06m from 2Q 2025). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 175 percentage points per year, which is a significant difference in performance. New Risk • Apr 28
New major risk - Revenue and earnings growth Earnings have declined by 21% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 21% per year over the past 5 years. Minor Risk Shareholders have been diluted in the past year (18% increase in shares outstanding). New Risk • Mar 19
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: CA$135.8m (US$99.0m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 24% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (18% increase in shares outstanding). Market cap is less than US$100m (CA$135.8m market cap, or US$99.0m). New Risk • Mar 15
New major risk - Revenue and earnings growth Earnings have declined by 24% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 24% per year over the past 5 years. Minor Risk Shareholders have been diluted in the past year (18% increase in shares outstanding). Reported Earnings • Jan 30
First quarter 2026 earnings: EPS and revenues miss analyst expectations First quarter 2026 results: CA$0.009 loss per share (down from CA$0.004 profit in 1Q 2025). Revenue: CA$5.91m (down 19% from 1Q 2025). Net loss: CA$1.00m (down 376% from profit in 1Q 2025). Revenue missed analyst estimates by 5.5%. Earnings per share (EPS) also missed analyst estimates by 100%. Revenue is forecast to grow 28% p.a. on average during the next 3 years, compared to a 25% growth forecast for the Electronic industry in Canada. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 184 percentage points per year, which is a significant difference in performance. New Risk • Jan 11
New major risk - Revenue and earnings growth Earnings have declined by 17% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 17% per year over the past 5 years. Minor Risk Shareholders have been diluted in the past year (18% increase in shares outstanding). Reported Earnings • Dec 31
Full year 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2025 results: CA$0.032 loss per share (down from CA$0.022 profit in FY 2024). Revenue: CA$31.8m (down 16% from FY 2024). Net loss: CA$3.07m (down 254% from profit in FY 2024). Revenue exceeded analyst estimates by 2.5%. Earnings per share (EPS) missed analyst estimates by 50%. Revenue is forecast to grow 22% p.a. on average during the next 3 years, compared to a 26% growth forecast for the Electronic industry in Canada. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 154 percentage points per year, which is a significant difference in performance. New Risk • Nov 16
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 17% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 7.3% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (17% increase in shares outstanding). Significant insider selling over the past 3 months (CA$6.7m sold). Announcement • Nov 14
Gatekeeper Systems Inc. announced that it has received CAD 10.08 million in funding On November 13, 2025, Gatekeeper Systems Inc. closed the transaction. The company issued 4,800,000 shares at a price of CAD 2.10 per share for gross proceeds of CAD 10,080,000 and issued additional 1,627,476 shares at a price of CAD 2.10 for gross proceeds of CAD 3,417,699.6. The company issued a total of 6,427,476 common shares of the company, including 1,627,476 common shares sold pursuant to the exercise in full by the co-lead underwriters of their overallotment option, at a price of CAD 2.10 per offered share, for aggregate gross proceeds of CAD 13,497,699.60. In connection with the offering, the company paid the underwriters a cash commission of CAD 809,862, equal to 6.0% of the gross proceeds raised under the offering. The offering remains subject to the final approval of the TSX Venture Exchange. The offering was completed on a private placement basis: (i) in reliance on the listed issuer financing exemption from the prospectus requirements available under Part 5A.2 of National Instrument 45-106, Prospectus Exemptions, as modified by Coordinated Blanket Order 45-935, Exemptions from Certain Conditions of the Listed Issuer Financing Exemption, in each of the provinces and Territories of Canada; and (ii) in such other jurisdictions other than Canada and the United Sates pursuant to relevant prospectus or registration exemptions in accordance with applicable laws, provided that no prospectus filing or comparable obligation, continuing reporting or continuous disclosure requirement, or requisite regulatory or governmental approval arises in such jurisdictions. Announcement • Nov 06
Gatekeeper Systems Inc. announced that it expects to receive CAD 10.08 million in funding Gatekeeper Systems Inc announced a bought deal private placement to issue 4,800,000 common shares at a price of CAD 2.1 per share for aggregate gross proceeds of CAD 10,080,000 on November 5, 2025. The offering will be completed on a private placement basis in reliance on the listed issuer financing exemption. The Company has agreed to pay the Co-Lead Underwriters a cash commission of 6% of the gross proceeds raised under the Offering. In connection with the Offering, the Company will grant the Co-Lead Underwriters an option to purchase for resale up to an additional 1,627,476 Offered Shares, representing approximately 34% of the aggregate number of Offered Shares at the Offering Price, exercisable, in whole or in part, any time up until 48 hours prior to the closing date of the Offering. The Offering is expected to close on or about November 13, 2025 and is subject to the Company receiving all necessary regulatory approvals, including the approval of the TSX Venture Exchange. Announcement • Nov 04
Gatekeeper Systems Inc. Announces Appointment of Hamish Dobson as Independent Director Gatekeeper Systems Inc. announced the appointment of industry professional Hamish Dobson to its Board of Directors as an independent director. Mr. Dobson has extensive security industry experience with senior leadership roles in engineering and product management at Motorola Solutions, and Avigilon. Most recently, Hamish was Corporate Vice President of Video Security and Access Control for Motorola Solutions, where he led a worldwide engineering team who delivered AI-powered physical security solutions for the global market. Recent Insider Transactions • Oct 18
Insider recently sold CA$317k worth of stock On the 10th of October, Douglas Fraser sold around 105k shares on-market at roughly CA$3.03 per share. This transaction amounted to 62% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth CA$6.4m. Insiders have been net sellers, collectively disposing of CA$6.8m more than they bought in the last 12 months. Recent Insider Transactions • Sep 10
Founder recently sold CA$6.4m worth of stock On the 3rd of September, Douglas Dyment sold around 4m shares on-market at roughly CA$1.60 per share. This transaction amounted to 49% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Douglas' only on-market trade for the last 12 months. New Risk • Aug 01
New major risk - Revenue and earnings growth Earnings have declined by 7.3% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 7.3% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Significant insider selling over the past 3 months (CA$93k sold). Market cap is less than US$100m (CA$117.5m market cap, or US$85.2m). Announcement • Jul 24
Gatekeeper Systems Inc. announced that it has received CAD 10.002 million in funding On July 23, 2025, Gatekeeper Systems Inc. closed the transaction. Announcement • Jul 22
Gatekeeper Systems Inc., Annual General Meeting, Sep 16, 2025 Gatekeeper Systems Inc., Annual General Meeting, Sep 16, 2025. Announcement • Jul 15
Gatekeeper Systems Inc. announced that it expects to receive CAD 10.002 million in funding Gatekeeper Systems Inc. announced a bought deal private placement transaction of 8,335,000 common shares of the Company ) at a price of CAD 1.20 per Offered Share for aggregate gross proceeds of CAD 10,002,000 on July 14, 2025.The Company has agreed to pay the Underwriters a cash commission of 6.0% of the gross proceeds raised under the Offering. In connection with the Offering, the Company will grant the Underwriters an option to sell up to an additional 15% of the aggregate amount of Offered Shares at the Offering Price, exercisable, in whole or in part, any time up until 48 hours prior to the closing date of the Offering. The Offering is expected to close on or about July 23, 2025 and is subject to the Company receiving all necessary regulatory approvals, including the approval of the TSX Venture Exchange. Recent Insider Transactions • Jul 11
Insider recently sold CA$93k worth of stock On the 8th of July, Douglas Fraser sold around 65k shares on-market at roughly CA$1.43 per share. This transaction amounted to 28% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. New Risk • Jun 30
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Canadian stocks, typically moving 14% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Market cap is less than US$100m (CA$114.6m market cap, or US$84.2m). Buy Or Sell Opportunity • Jun 13
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 60% to CA$0.79. The fair value is estimated to be CA$0.65, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 25% over the last 3 years. Meanwhile, the company became loss making. New Risk • Mar 04
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Canadian stocks, typically moving 13% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Market cap is less than US$100m (CA$49.7m market cap, or US$34.2m). Reported Earnings • Jan 30
First quarter 2025 earnings released: EPS: CA$0.004 (vs CA$0.026 in 1Q 2024) First quarter 2025 results: EPS: CA$0.004 (down from CA$0.026 in 1Q 2024). Revenue: CA$7.28m (down 26% from 1Q 2024). Net income: CA$363.0k (down 85% from 1Q 2024). Profit margin: 5.0% (down from 24% in 1Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Reported Earnings • Dec 20
Full year 2024 earnings released: EPS: CA$0.022 (vs CA$0.031 in FY 2023) Full year 2024 results: EPS: CA$0.022 (down from CA$0.031 in FY 2023). Revenue: CA$37.8m (up 36% from FY 2023). Net income: CA$1.99m (down 29% from FY 2023). Profit margin: 5.3% (down from 10% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 73% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Announcement • Sep 12
Gatekeeper Systems Inc. Provides Preliminary Unaudited Revenue Guidance for the Fiscal Fourth Quarter and Fiscal Year Ended August 31, 2024 Gatekeeper Systems Inc. provided preliminary unaudited revenue guidance for the fiscal fourth quarter and fiscal year ended August 31, 2024. For the quarter, the company expects Revenue for the fiscal fourth quarter of 2024 to be approximately $11.5 million which compares to $7.3 million in the fiscal fourth quarter of 2023, representing an increase of approximately 57% and the highest fiscal quarterly revenue in the Company's history.
For the year, the company expects Revenue for the 2024 fiscal year to be approximately $37.6 million which compares to $27.8 million in the 2023 fiscal year, representing an increase of approximately 35% and the highest fiscal yearly revenue in the Company's history. New Risk • Sep 10
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.1% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Shareholders have been diluted in the past year (2.1% increase in shares outstanding). Market cap is less than US$100m (CA$46.3m market cap, or US$34.2m). Reported Earnings • Aug 01
Third quarter 2024 earnings released: CA$0.005 loss per share (vs CA$0.004 profit in 3Q 2023) Third quarter 2024 results: CA$0.005 loss per share (down from CA$0.004 profit in 3Q 2023). Revenue: CA$6.46m (up 8.8% from 3Q 2023). Net loss: CA$416.4k (down 203% from profit in 3Q 2023). Over the last 3 years on average, earnings per share has increased by 74% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Recent Insider Transactions Derivative • Jun 27
Founder exercised options to buy CA$315k worth of stock. On the 20th of June, Douglas Dyment exercised options to buy 500k shares at a strike price of around CA$0.12, costing a total of CA$60k. This transaction amounted to 5.4% of their direct individual holding at the time of the trade. Douglas currently holds 9.33m shares (0.10070207564112935 of the company). Company insiders have collectively bought CA$66k more than they sold, via options and on-market transactions, in the last 12 months. Announcement • Jun 08
Gatekeeper Systems Inc., Annual General Meeting, Jul 26, 2024 Gatekeeper Systems Inc., Annual General Meeting, Jul 26, 2024. Reported Earnings • Apr 30
Second quarter 2024 earnings released: EPS: CA$0.016 (vs CA$0.021 in 2Q 2023) Second quarter 2024 results: EPS: CA$0.016 (down from CA$0.021 in 2Q 2023). Revenue: CA$9.86m (up 1.8% from 2Q 2023). Net income: CA$1.52m (down 19% from 2Q 2023). Profit margin: 15% (down from 19% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Reported Earnings • Jan 30
First quarter 2024 earnings released: EPS: CA$0.026 (vs CA$0.002 loss in 1Q 2023) First quarter 2024 results: EPS: CA$0.026 (up from CA$0.002 loss in 1Q 2023). Revenue: CA$9.82m (up 101% from 1Q 2023). Net income: CA$2.39m (up CA$2.54m from 1Q 2023). Profit margin: 24% (up from net loss in 1Q 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Reported Earnings • Dec 30
Full year 2023 earnings released: EPS: CA$0.031 (vs CA$0.021 in FY 2022) Full year 2023 results: EPS: CA$0.031 (up from CA$0.021 in FY 2022). Revenue: CA$27.8m (up 39% from FY 2022). Net income: CA$2.81m (up 50% from FY 2022). Profit margin: 10% (in line with FY 2022). Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Reported Earnings • Jul 20
Third quarter 2023 earnings released: EPS: CA$0.004 (vs CA$0.004 loss in 3Q 2022) Third quarter 2023 results: EPS: CA$0.004 (up from CA$0.004 loss in 3Q 2022). Revenue: CA$5.93m (up 35% from 3Q 2022). Net income: CA$404.1k (up CA$744.1k from 3Q 2022). Profit margin: 6.8% (up from net loss in 3Q 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Announcement • Jul 06
Gatekeeper Systems Inc. Announces the Retirement of Leanne Hudson, VP of Operations Gatekeeper Systems Inc. announced the retirement of Leanne Hudson, VP of Operations, effective June 30, 2023. Reported Earnings • Apr 20
Second quarter 2023 earnings released: EPS: CA$0.021 (vs CA$0.008 loss in 2Q 2022) Second quarter 2023 results: EPS: CA$0.021 (up from CA$0.008 loss in 2Q 2022). Revenue: CA$9.69m (up 212% from 2Q 2022). Net income: CA$1.88m (up CA$2.58m from 2Q 2022). Profit margin: 19% (up from net loss in 2Q 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 23% per year, which means it is well ahead of earnings. Announcement • Feb 08
Gatekeeper Systems Inc. Announces the Launch of Ai Dash Cam to Help Protect Bus Drivers and Passengers Gatekeeper Systems Inc. announced the launch of AI Dash Cam to help protect bus drivers and passengers. AI Dash Cam is an AI-based dash camera that uses proprietary video analytics to provide Driver Status Monitor (DSM) and Advanced Driver Assistance Systems (ADAS) functions which detect and alert various driving events and unsafe driving behavior. It is equipped with both a forward-facing and driver-facing camera, GPS, and supports real time local driver notifications. When connected to Gatekeeper's G4 Enterprise server utilizing cellular, live streaming and previously recorded events are available which enables real time coaching, remote viewing, event analysis, and long-term storage. The AI Dash Cam is an additional video analytics offering on Gatekeeper's Platform-as-a-Service (PaaS) business model which is centered around mobile data collectors that record and analyze video, audio, anddata on passenger buses and are the on-board intelligence platform for future applications. Gatekeeper has installed approximately 45,500 intelligent mobile data collectors for over 3,500 school district customers throughout North America. Reported Earnings • Dec 20
Full year 2022 earnings released: EPS: CA$0.021 (vs CA$0.001 in FY 2021) Full year 2022 results: EPS: CA$0.021 (up from CA$0.001 in FY 2021). Revenue: CA$20.0m (up 16% from FY 2021). Net income: CA$1.88m (up CA$1.75m from FY 2021). Profit margin: 9.4% (up from 0.7% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Announcement • Oct 21
Gatekeeper Systems Inc., Annual General Meeting, Dec 19, 2022 Gatekeeper Systems Inc., Annual General Meeting, Dec 19, 2022. Announcement • Aug 06
Gatekeeper Systems Inc., Annual General Meeting, Oct 06, 2022 Gatekeeper Systems Inc., Annual General Meeting, Oct 06, 2022. Reported Earnings • Aug 02
Third quarter 2022 earnings released: CA$0.004 loss per share (vs CA$0.003 loss in 3Q 2021) Third quarter 2022 results: CA$0.004 loss per share (down from CA$0.003 loss in 3Q 2021). Revenue: CA$4.39m (up 14% from 3Q 2021). Net loss: CA$340.0k (loss widened 29% from 3Q 2021). Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 29% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • May 01
Second quarter 2022 earnings released: CA$0.008 loss per share (vs CA$0.004 loss in 2Q 2021) Second quarter 2022 results: CA$0.008 loss per share (down from CA$0.004 loss in 2Q 2021). Revenue: CA$3.10m (down 5.7% from 2Q 2021). Net loss: CA$697.7k (loss widened 88% from 2Q 2021). Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has increased by 61% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Feb 03
Gatekeeper Systems Inc. Announces That Charlie Bruce Has Resigned as Director Gatekeeper Systems Inc. announced that Charlie Bruce has resigned as director of the Company effective February 1, 2022. Mr. Bruce was appointed to Gatekeepers board of directors in November 2017. In 2019, Mr. Bruce assumed the role of Senor Vice President of National Express LLC. (NELLC) with increasing responsibilities which now also include initiatives relating to the electrification of school buses. Mr. Bruce had previously served as the Chief Operating Officer of NELLC until December 2014. NELLC is the North American subsidiary of National Express Group, PLC, one of the premier transportation firms in the United Kingdom. NELLCs home-to-school companies operate more than 22,500 school buses, serve more than 550 school districts in 33 states and three provinces, and transport more than 1.3 million students on a daily basis. Reported Earnings • Feb 01
First quarter 2022 earnings: Revenues and EPS in line with analyst expectations First quarter 2022 results: EPS: CA$0.002 (down from CA$0.003 in 1Q 2021). Revenue: CA$2.70m (down 46% from 1Q 2021). Net income: CA$212.6k (down 5.5% from 1Q 2021). Profit margin: 7.9% (up from 4.5% in 1Q 2021). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 73% per year but the company’s share price has only increased by 64% per year, which means it is significantly lagging earnings growth. Reported Earnings • Dec 31
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: CA$0.001 (down from CA$0.04 in FY 2020). Revenue: CA$17.2m (down 15% from FY 2020). Net income: CA$120.8k (down 97% from FY 2020). Profit margin: 0.7% (down from 18% in FY 2020). The decrease in margin was primarily driven by lower revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 93% per year but the company’s share price has only increased by 73% per year, which means it is significantly lagging earnings growth. Reported Earnings • Jul 28
Third quarter 2021 earnings released: CA$0.003 loss per share (vs CA$0.014 profit in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and control over costs. Third quarter 2021 results: Revenue: CA$3.83m (down 32% from 3Q 2020). Net loss: CA$263.0k (down 122% from profit in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 108% per year but the company’s share price has only increased by 85% per year, which means it is significantly lagging earnings growth. Announcement • Jun 30
Gatekeeper Systems Inc. Announces Product Launch of its AI-Enabled Automated Lane Enforcement Solution Gatekeeper Systems Inc. (`Gatekeeper' or the `Company') announced the product launch of the company's AI-enabled Automated Lane Enforcement (ALETM) solution, designed to help cities reduce transit lane violations by automating the video evidence capture and processing vehicle infractions relating to bus lanes and streetcars. ALE uses video analytics and Artificial Intelligence to identify instances in which vehicles are violating transit lane traffic laws, including specialized applications such as vehicles that partially obstruct the bus lane, vehicles in the bus lane that signal a legal right-hand turn but illegally continue to drive straight, and vehicles that pass a streetcar when passengers are boarding or deboarding. ALE records the video evidence, captures the vehicle license plate, and prepares the instance for review and ticketing using the Company's proprietary Traffic Infraction Management System (TIMS) software. ALE builds on nearly a decade of experience within the Company, which has an established business of using video analytics to identify, capture evidence and ticket vehicles that illegally pass stopped school buses. The Company is actively marketing the ALE solution to cities and transit authorities in North America. Reported Earnings • Apr 29
Second quarter 2021 earnings released: CA$0.004 loss per share (vs CA$0.001 profit in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and control over costs. Second quarter 2021 results: Revenue: CA$3.29m (down 7.9% from 2Q 2020). Net loss: CA$371.3k (down CA$438.8k from profit in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 113% per year whereas the company’s share price has increased by 112% per year. Announcement • Feb 26
Gatekeeper Systems Inc.'s Paas Solution Factory-Installed by A Top 10 School District in US Gatekeeper Systems Inc. announced it has been selected by one of the 10 largest school districts in the US to equip 40 new school buses with the Company's Platform-as-a-Service (PaaS) solution. The PaaS solution will be OEM-installed at the factory by IC Bus, who builds nearly 11,000 buses each year at their Tulsa, OK manufacturing facility. Each bus will be equipped with wirelessly connected mobile data collectors, interior video cameras and exterior 360-degree cameras. The 360 Surround Vision Camera system provides a surround view of the school bus, and is automatically activated when the bus is reversing or making side turns. The surround view is displayed on a specialized rear-view mirror system allowing drivers to monitor school children all around the bus. Valuation Update With 7 Day Price Move • Feb 24
Investor sentiment deteriorated over the past week After last week's 18% share price decline to CA$1.09, the stock is trading at a trailing P/E ratio of 25.3x, down from the previous P/E ratio of 30.9x. This compares to an average P/E of 23x in the Electronic industry in Canada. Total returns to shareholders over the past three years are 808%. Is New 90 Day High Low • Feb 17
New 90-day high: CA$1.33 The company is up 93% from its price of CA$0.69 on 18 November 2020. The Canadian market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 46% over the same period. Valuation Update With 7 Day Price Move • Feb 09
Investor sentiment improved over the past week After last week's 43% share price gain to CA$1.17, the stock is trading at a trailing P/E ratio of 27.2x, up from the previous P/E ratio of 19.1x. This compares to an average P/E of 25x in the Electronic industry in Canada. Total returns to shareholders over the past three years are 917%. Announcement • Feb 04
Gatekeeper Systems Inc Signs Five Year Agreement with School District in Us Gatekeeper Systems Inc. announced it has signed a five-year services agreement with The School District of Philadelphia to provide service and maintenance solutions for video systems on school buses. The School District of Philadelphia includes all public schools in Philadelphia and is the 8th largest school district in the US, serving over 200,000 students. The use of video and data technology on school buses is growing rapidly and Gatekeeper has significant experience in delivering solutions to improve operations and help protect school children while riding to and from school. Gatekeeper has installed over 34,000 intelligent mobile data collectors and 100,000 video devices on school buses, transit buses, and trains for more than 3,500 school districts and public transit customers. Announcement • Feb 02
Gatekeeper Systems Inc. Appoints Colin Sutherland to Its Board of Directors Gatekeeper Systems Inc. announced the appointment of Colin Sutherland to its Board of Directors as an independent director. Mr. Sutherland is a Chartered Professional Accountant with 20 years of executive experience in several companies with international operations. Announcement • Jan 29
Gatekeeper Systems Inc. Signs Contract Valued at USD 2 Million with Midwest Transit Equipment to Provide Video and Data Solutions for Buses Gatekeeper Systems Inc. announced that it has signed a contract valued at USD 2 million with Midwest Transit Equipment to provide video and data solutions for buses. Midwest Transit Equipment is the largest bus dealer in the United States and has over 400 employees selling and servicing thousands of new and used school, childcare, commercial, church, and hotel buses. Under the USD 2 million contract, which is effective over a two-year period beginning January 2021, Midwest Transit Equipment will spec and recommend Gatekeeper’s intelligent mobile data collectors, high-definition video solutions and health check panels for its own fleet and for use by its bus customers. Platform-as-a-Service ("PaaS") Business Model – PaaS is Gatekeeper’s enabling transformation to a data company. The Company has installed over 34,000 intelligent mobile data collectors and 100,000 video devices on school buses, transit buses and trains for over 3,500 public school districts and transportation customers. These intelligent devices form the foundation of the PaaS business model by collecting vehicle data such as video, audio, GPS, time, door open/close and serve as the "black box" to aid in transit accident investigations. The PaaS units are WiFi enabled, mobile connected, or mobile enabled, allowing public transport assets to become part of an intelligent transportation solution in a Smart City ecosystem. The PaaS platform also serves as the AI-based intelligence platform for future applications such as thermal camera sensors, passenger counting, contact tracing, intelligent routing, license plate capture, video evidence and more. Is New 90 Day High Low • Jan 27
New 90-day high: CA$0.86 The company is up 8.0% from its price of CA$0.80 on 28 October 2020. The Canadian market is up 15% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 40% over the same period. Announcement • Jan 22
Gatekeeper Upgrades School Bus Fleet in Missouri with Mobile Data Collectors, Hi-Def Video, Stop-Arm Cameras Gatekeeper Systems Inc. announced that the Company has been contracted to upgrade a fleet of 45 school buses in Webb City, Missouri with new intelligent mobile data collectors, high-definition video, and stop arm cameras. The use of video on school buses is growing rapidly and Gatekeeper has significant experience in supplying cameras for school bus safety. During its operating history, the Company has equipped over 3,500 school districts with video and data solutions which are being used to help protect children while riding to and from school. Announcement • Jan 17
Gatekeeper Systems Inc. Announces Equip School Bus Fleet in California with Wireless Video Data, Incident Management Software Gatekeeper Systems Inc. announced it will equip a fleet of 39 school buses in California with wirelessly-connected digital video recorders and Gatekeeper's G4 Enterprise incident management software. Gatekeeper's G4 Enterprise software is video management software that offers comprehensive video analytics and wireless interconnectivity to Gatekeeper's on-vehicle digital video recorders. Customers can easily identify incidents, prepare video clips for emailing, selectively blur faces, track vehicle routes and more. School districts are embracing wireless video recorders as an effective solution for quickly locating missing school children, monitoring on-bus student behavior, and close-proximity or social distancing analysis relating to COVID-19. The use of video on school buses is growing rapidly and Gatekeeper has significant experience in supplying cameras for school bus safety. During its operating history, the Company has equipped over 3,500 school districts with video and data solutions which are being used to help protect children while riding to and from school. Reported Earnings • Dec 12
Full year 2020 earnings released: EPS CA$0.04 The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: CA$20.3m (up 48% from FY 2019). Net income: CA$3.58m (up CA$3.87m from FY 2019). Profit margin: 18% (up from net loss in FY 2019). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 91% per year but the company’s share price has only increased by 72% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Dec 01
New 90-day low: CA$0.62 The company is down 26% from its price of CA$0.84 on 01 September 2020. The Canadian market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is down 5.0% over the same period. Announcement • Nov 11
Gatekeeper Systems Inc. Completes CAD 6.3 Million Contract for NTSB Gatekeeper Systems Inc. announced the final completion of a previously-announced CAD 6.3 million contract for the design and supply of digital video recorders (DVRs) and crash hardened memory modules (CHMMs) that record and protect operating evidence in rail transit applications. The DVRs and CHMMs have continuous-recording capabilities that can be used to verify crew actions and train operating conditions, which greatly aids accident investigations in the same way black boxes are used in the airline industry. They are compliant with the recommendation made by the National Transportation Safety Board (NTSB), which calls upon the Federal Transit Administration to install crash-resistant inward-and outward-facing cameras and continuous recorders in all rail transit vehicles. The CAD 6.3 million contract was initially announced on October 9, 2019 and the Company estimates that approximately CAD 1.56 million of this contract has been billed during its fiscal first quarter which ends November 30, 2020. Is New 90 Day High Low • Oct 14
New 90-day high: CA$0.97 The company is up 116% from its price of CA$0.45 on 16 July 2020. The Canadian market is up 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is down 4.0% over the same period. Announcement • Aug 27
Gatekeeper Systems Inc. announced that it expects to receive CAD 5 million in funding Gatekeeper Systems Inc. (TSXV:GSI) announced a non-brokered private placement of up to 5,000,000 units at a price of CAD 1 per unit for gross proceeds of up to CAD 5,000,000 on August 26, 2020. Each unit will consist of one common share of the company and one common share purchase warrant, with each warrant entitling the holder to acquire one additional common share at a price of CAD 1.10 for a period of twenty-four months from the date of closing. If the stock price trades over CAD 1.35 per share for a period of ten consecutive trading days, the company will have the right to accelerate the expiry of the warrants by providing notice to the holders that the warrants will expire on the date that is not less than 30 days from the date the notice is provided. All securities issued in connection with the transaction will be subject to a four month hold period under applicable Canadian securities laws. The closing of the transaction is subject to acceptance of the TSX Venture Exchange.