Gatekeeper Systems soars on Q1 results

Shares of Gatekeeper Systems (Gatekeeper Systems Stock Quote, Chart, News, Analysts, Financials TSXV:GSI) are leading the TSX Venture Exchange today after the company reported sparkling first quarter results.

GSI posted income of $2.34-million on revenue of $9.82-million, a topline that was up 101 per cent over the same period a year prior.

“These are the strongest first fiscal quarter financial results in our history by a wide margin,” CEO Doug Dyment said. “Both the school and transit segments of our business are exhibiting solid growth based on our platform-as-a-service (PaaS) business model. The installed base of mobile data collectors (MDCs) has grown to more than 50,000, and we are now actively preparing and selling recurring-revenue solutions to help our customers monitor and optimize the vast amounts of video and data being recorded every day. These new offerings utilize AI, video analytics, hosted software solutions and wireless data connectivity, and they form the data layer in our PaaS business model that enables Gatekeeper’s evolution as a data company.”

Abbotsford, BC-based Gatekeeper Systems provides security solutions, primarily for the school bus market in the United States.

At press time, shares of Gatekeeper Systems were up 20 per cent to $0.60.