Xtract One Technologies (XTRA) Q4 2026 earnings summary

Executive summary

• FY2026 was a record year: revenue rose 108% YoY to CAD 28.8M from CAD 13.9M; net loss narrowed to CAD 7.0M from CAD 11.9M.

• Adjusted EBITDA loss narrowed to CAD 3.5M from CAD 8.6M, an improvement of CAD 5.1M; the second half was described as essentially Adjusted EBITDA breakeven.

• Contractual backlog rose 66% to CAD 25.6M; year-end cash was CAD 17.3M, with no debt.

• Growth reflected commercial rollout of Xtract One Gateway and continued SmartGateway growth, supported by a larger installed base and recurring-revenue backlog.

Financial highlights

• Q4 revenue was CAD 8.2M, up 144% YoY from CAD 3.3M; FY2026 revenue was CAD 28.8M, up 108% from CAD 13.9M.

• FY2026 operating expenses were CAD 24.0M, up 13% from CAD 21.1M; selling and marketing was CAD 8.2M, G&A CAD 8.6M and R&D CAD 7.0M.

• FY2026 net loss narrowed to CAD 7.0M from CAD 11.9M; Q4 comprehensive loss improved to CAD 1.1M from CAD 3.5M.

• Year-end cash and cash equivalents were CAD 17.3M versus CAD 8.2M a year earlier; annual operating cash use was CAD 3.5M versus CAD 6.5M.

• Q4 operating cash flow was CAD 1.9M including working capital; excluding working capital, the quarter was within CAD 0.5M of operating cash breakeven.

Outlook and guidance

• FY2027 priorities include sales expansion in education, healthcare, commercial and international markets, customer-led R&D, operating leverage and customer advocacy.

• Management aims to keep cost growth below revenue growth while continuing targeted sales, marketing and R&D investment; no step-change in OpEx is planned.

• Qualified opportunities were cited at ~US$122M, diversified across segments and increasingly international; timing varies with buyer approvals and implementation requirements.

• Management expects product-margin variability with quarterly mix; Gateway margins are expected to improve as bill-of-material and deployment refinements progress.

• Outlook cited a growing recurring-revenue base, Fortune 100 pipeline prospects, installation capacity and customer references as supports for momentum.