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Xtract One Announces Fiscal 2026 Second Quarter Results

XTRAF
  • Xtract One Technologies reported fiscal second quarter revenue of $5.8 million for the three months ended January 31, 2026, up from $3.4 million in the prior-year period.
  • Gross margin for the quarter was 54%, a decline from 70% in the prior year, attributed to initial production & deployment costs.
  • Operating expenses increased to $5.4 million for the quarter compared to $4.8 million in the prior-year period.
  • Comprehensive loss for the quarter was $2.4 million, an increase from $2.1 million in the same period of fiscal 2025.
  • Total contract value of new bookings was $8.7 million for the quarter, down from $13.5 million in the prior-year period.
  • Contractual backlog stood at $13.9 million at quarter-end, excluding $34.9 million in agreements pending installation compared to $20.5 million in the prior year.
  • The Company raised $11.5 million in gross proceeds through a public offering that included the full exercise of an over-allotment option.
  • Units sold in the offering included one common share & one-half of a warrant exercisable until November 10, 2028, at $0.95 per share.
  • Cash & equivalents ended the quarter at $15.7 million, available for general corporate purposes & growth acceleration.
  • Subsequent to the quarter, the British Museum selected Xtract One to secure all venue entrances with its SmartGateway solution.
  • CEO Peter Evans stated the Company is on track for strong performance in the second half of fiscal 2026 with nearly $5 million in systems delivered & $15 million pending installation.
  • A conference call to discuss results is scheduled for March 5, 2026, at 10:00 am EST featuring CEO Peter Evans & CFO Karen Hersh.