Avante CEO Manny Mounouchos talks to Cantech Letter

A security company? No.

A technology company that happens to be the best in providing security systems and solutions. Yes.

That’s how CEO Manny Mounouchos describes Avante (Avante Stock Quote, Chart, News, Analysts, Financials TSXV:XX)

Mounouchos sat down with Jon Erlichman at the 2025 Cantech Investment Conference to talk about what’s next for the company that became a household name in Toronto and now sells to an international clientele.

AVANTE CEO CEO MANNY MOUNOUCHOS TALKS TO JON ERLICHMAN AT CANTECH 25

On August 27, Beacon Securities analyst Gabriel Leung issued a report in which he maintained his “Buy” rating and C$2.25 target price for Avante following the company’s posted first-quarter fiscal 2025 results.

Avante, which provides security and safety solutions, reported revenue of $8.7-million and Adjusted EBITDA of $360,000 for the quarter ended June, compared with Leung’s forecast of $8.8-million and $97,000. Revenue rose 10.5% year over year, all organic, with recurring revenue accounting for 46% and up 25% from a year ago. Gross margin was 37.9%, flat year over year and up from 35.7% in the previous quarter.

Leung said margins should return to above 40% in fiscal 2026 as new, higher-margin services expand. Avante Services, which includes Avante Black, generated $7.1-million, while NSSG contributed $1.9-million, up from $830,000 last year. Free cash flow was negative $64,000, and the company ended the quarter with $4.7-million in cash, no debt, and $12-million in unused credit facilities.

“With WALL-E, the company noted that it was ramping up production and is gaining interest from clients operating in remote and high-risk environments,” he said. “We understand the company is involved with several high-profile opportunities, which could accelerate WALL-E tower production over the near-term.”