Q4 2024 Xtract One Technologies Inc. Earnings Call Transcript
Key Points
- Xtract One Technologies Inc (XTRAF) reported record annual revenue of $16.4 million, more than four times the previous year's revenue.
- The company introduced two major new products, Xtract One View and Xtract One Gateway, which have been well-received by customers and are expected to drive future growth.
- Xtract One Technologies Inc (XTRAF) successfully onboarded new customers across various sectors, including professional sports teams, school systems, and healthcare networks.
- The company achieved a gross profit margin of approximately 63% for the year, up from 60% last year, indicating improved cost management and efficiency.
- The contractual backlog and signed agreements pending installation totaled around $26.8 million, reflecting strong future revenue potential.
- The company's operating cash outflow for fiscal 2024 was $8.1 million, although this was an improvement from the previous year.
- There is potential for some contracts to be delayed into the second half of the year due to the launch of the new Xtract One Gateway product.
- Selling and marketing expenses increased to $5.6 million for fiscal 2024, up from $4.6 million the previous year, indicating higher costs associated with business development.
- Research and development costs rose by 17% to $8.3 million, reflecting increased investment in innovation but also higher expenses.
- General and administrative costs increased by approximately $700,000 compared to the previous year, primarily due to higher personnel-related costs.
Good day and welcome to the Extract One Technologies fiscal 2024 fourth quarter earnings conference call. (Operator Instruction) After todayâs presentation, there will be an opportunity to ask questions. (Operator Instructions) Please note this event is being recorded.
I would now like to turn the conference over to Chris Witty Investor relations. Please go ahead.
Good morning, everyone and welcome to the Extract one fiscal fourth quarter conference call. Joining me today is the company's CEO and director Peter Evans and CFO Karen Hersh.
Today's earnings call will include a discussion about the state of the business financial results and sum up extract one's recent milestones followed by a Q&A session. This call is being recorded and will be available on the company's website for replay purposes. Please see the presentation online that accompanies today's discussion.
Before we begin, I would like to note that all dollars are Canadian unless otherwise specified and
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