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Abbotsford, British Columbia--(Newsfile Corp. - September 10, 2024) - Gatekeeper Systems Inc. (TSXV: GSI) (OTC Pink: GKPRF) ('Gatekeeper' or the 'Company'), a video and data solutions provider for public transportation and smart cities, announces select preliminary financial results for the fiscal fourth quarter and fiscal year ended August 31, 2024.
Based on preliminary unaudited information, the Company expects:
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Revenue for the fiscal fourth quarter of 2024 to be approximately $11.5 million which compares to $7.3 million in the fiscal fourth quarter of 2023, representing an increase of approximately 57% and the highest fiscal quarterly revenue in the Company's history; and
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Revenue for the 2024 fiscal year to be approximately $37.6 million which compares to $27.8 million in the 2023 fiscal year, representing an increase of approximately 35% and the highest fiscal yearly revenue in the Company's history.
The Company expects to report its audited financial and operating results for the fiscal year ended August 31, 2024, in December 2024. Accordingly, actual financial and operating results that will be reflected in the Company's audited financial statements, when they are completed and publicly disclosed, may differ from these preliminary results.
About Gatekeeper Systems Inc.
Gatekeeper is a leading provider of intelligent video and data solutions designed to provide a safer transportation environment for children, passengers, and public safety personnel on multiple transportation modes. The Company uses AI, video analytics, and Mobile Data Collectors to inter-connect public transportation assets within a Smart City ecosystem. The Company's Platform-as-a-Service (PaaS) business model is centered around wirelessly enabled Mobile Data Collectors which forms the foundation of the Company's data company evolution. www.gatekeeper-systems.com.
Contact Information:
Douglas Dyment
President & CEO
ddyment@gatekeeper-systems.com
(604) 864-6187
Cautionary Note Regarding Preliminary Financial Results
The preliminary revenue figures set forth above are based on an initial review of the results of the Company's operations for the three months and year ended August 31, 2024 and are subject to change. These figures are preliminary and are inherently uncertain due to a number of factors, and remain subject to the Company's management's and audit committee's reviews and the completion of regular financial closing and review procedures and audit procedures for the periods. The Company's auditor has not audited, reviewed or performed any procedures with respect to the preliminary revenue figures, and accordingly does not express an opinion or any other form of assurance with respect thereto. These financial estimates should not be viewed as a substitute for audited financial statements prepared in accordance with generally accepted accounting principles and are not necessarily indicative of the Company's results for any future period. Additional adjustments to the preliminary figures presented above may be identified, and final results for the relevant fiscal periods may differ materially from these preliminary figures and will not be finalized until after the Company completes its normal year-end accounting procedures, including execution of internal controls over financial reporting. These financial estimates are intended to provide information about management's current expectations regarding certain aspects of the Company's financial performance. Reliance on the information presented herein may not be appropriate for other purposes.