Gatekeeper Systems (GSI) Q1 2026 earnings summary

Executive summary

• Announced $46.3 million in new business contracts during and after the quarter, including major deals in transit and school bus segments.

• Revenue for fiscal Q1 2026 was $5.9 million, down from $7.3 million year-over-year.

• Completed a $13.5 million bought-deal financing, strengthening financial position for large contracts.

Financial highlights

• Revenue decreased to $5.9 million from $7.3 million compared to the same quarter last year.

• Gross profit was $2.7 million, down from $3.2 million year-over-year; gross margin improved to 45% from 43%.

• Operating expenses rose to $4.3 million from $3.1 million year-over-year.

• Total comprehensive loss was $0.8 million, compared to income of $0.6 million in the prior year.

• Basic and diluted loss per share was $0.01, compared to earnings of $0.01 per share last year.

Outlook and guidance

• Management highlighted the company's largest-ever contract wins and expects strengthened financial capacity to execute large projects.

• Recurring revenue is increasing through video management subscription offerings.