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Gatekeeper Systems (GSI) AI Stock Analysis

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TSE:GSI

Gatekeeper Systems

(TSXV:GSI)

Select Model
Rating:52Neutral
Price Target:CAD 2.00â–²(25.00% Upside)
Action:reiterated
Date:07/24/26

The score is held back primarily by weak profitability and sharply negative operating/free cash flow, despite solid revenue growth and a very conservatively leveraged balance sheet. Technicals are moderately positive and provide some support, while valuation is penalized by loss-driven negative P/E and the absence of dividend yield data.

Positive Factors
Revenue growthThe return to TTM revenue growth indicates renewed demand for Gatekeeper’s onboard video and data solutions. Continued expansion would improve operating leverage, support customer deployment activity, and provide a stronger base for software, support, and lifecycle revenue over the next several quarters.
Negative Factors
Loss-making operationsCurrent losses show that revenue growth is not yet translating into sustainable earnings or shareholder returns. Persistent negative EBIT and net income can constrain internally funded investment, weaken returns on the expanding capital base, and leave results sensitive to execution and cost control.

Gatekeeper Systems (GSI) vs. iShares MSCI Canada ETF (EWC)

-60%-40%-20%0%20%40%TSE:GSI-35.22%EWC+21.27%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26
Market Cap
CAD 178.55M
Dividend Yield
―
Average Volume (3M)
97.17K
Price to Earnings (P/E)
-127.0
Beta (1Y)
2.21
Revenue Growth
23.49%
EPS Growth
51.27%
Country
Canada
Employees
28
Sector
General
Sector Strength
55
Industry
Security & Protection Services

Gatekeeper Systems Business Overview & Revenue Model

Company Description

Gatekeeper Systems Inc., established in 1997 and headquartered in Abbotsford, Canada, specializes in the development, manufacturing, and distribution of advanced video surveillance solutions for demanding mobile environments across Canada and the Uni...

How the Company Makes Money

GSI generates revenue primarily from selling and deploying onboard video surveillance hardware (e.g., vehicle-mounted camera systems and associated recording/communications equipment) to fleet operators, especially public transit agencies. It also ea...

Gatekeeper Systems Financial Statement Overview

Summary

Mixed fundamentals: TTM revenue grew 14.6% and the balance sheet is very low leverage (debt-to-equity ~0.016), but profitability is negative (EBIT and net income losses) and cash generation is a major weakness with deeply negative operating and free cash flow (~-$21M).

Income Statement

44Neutral

Balance Sheet

78Positive

Cash Flow

22Negative
Financial statement breakdown
BreakdownTTMNov 2025Nov 2024Nov 2023Nov 2022Nov 2021
Income Statement
Total Revenue39.94M31.79M37.81M27.85M20.03M17.23M
Gross Profit17.06M12.56M17.24M12.54M9.31M7.52M
EBITDA-1.01M-2.91M4.99M3.47M2.03M-186.36K
Net Income-1.12M-3.07M1.99M2.81M1.88M120.77K
Balance Sheet
Total Assets44.36M38.52M22.37M19.61M23.02M14.40M
Cash, Cash Equivalents and Short-Term Investments7.21M14.77M6.72M4.11M2.60M3.60M
Total Debt502.78K1.16M983.01K749.62K4.46M813.79K
Total Liabilities4.02M12.42M4.21M3.87M10.47M3.30M
Stockholders Equity40.34M26.10M18.16M15.74M12.55M11.10M
Cash Flow
Free Cash Flow-21.46M-2.34M3.45M6.31M-4.63M4.04M
Operating Cash Flow-21.28M-2.17M4.22M6.54M-4.60M4.14M
Investing Cash Flow-91.20K-174.66K-774.59K-232.35K-30.22K-106.56K
Financing Cash Flow23.03M10.35M-831.22K-4.81M3.62M-1.45M

Gatekeeper Systems Technical Analysis

Technical Analysis SentimentNegative
Last Price1.60

Price Trends

50DMA1.69Negative
100DMA1.58Positive
200DMA1.50Positive

Market Momentum

MACD-0.01Negative
RSI45.59Neutral
STOCH57.54Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:GSI, the sentiment is Negative. The current price of 1.60 is below the 20-day moving average (MA) of 1.65, below the 50-day MA of 1.69, and above the 200-day MA of 1.50, indicating a neutral trend. The MACD of -0.01 indicates Negative momentum. The RSI at 45.59 is Neutral, neither overbought nor oversold. The STOCH value of 57.54 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:GSI.

Gatekeeper Systems Peers Comparison

Overall Rating

UnderperformOutperform
Sector (55)

Financial Indicators

TSE:GSI against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
TSE:XXTSE:XX64NeutralCAD 44.77M-15.91-25.12%―11.25%-51.98%
Sector *55Neutral$6.65B3.83-15.92%6.20%10.91%7.18%
TSE:GSITSE:GSI52NeutralCAD 178.55M-126.98-3.14%―23.49%51.27%
TSE:ZDCTSE:ZDC47NeutralCAD 576.35M-646.84-1.21%―70.81%-143.82%
TSE:SCANTSE:SCAN39UnderperformCAD 12.16M-0.26-7968.55%―――

* General Sector Average

Performance Comparison

-50%0%50%TSE:GSITSE:ZDCTSE:XXTSE:SCANTSE:JPEGDec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26
TSE:GSI and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
TSE:GSIGatekeeper Systems1.60-0.93-36.76%
TSE:ZDCZedcor Energy Inc5.11-1.78-25.83%
TSE:XXAvante Logixx1.680.7580.65%
TSE:SCANLiberty Defense Holdings Ltd.2.14-14.06-86.79%
TSE:JPEGPioneer Ai Foundry Inc.1.100.000.00%

Gatekeeper Systems Corporate Events

Business Operations and StrategyFinancial Disclosures

Gatekeeper Systems Nearly Doubles Data Center Subscriptions as MDC Installed Base Reaches 72,000

Positive
Sep 1, 2026

Gatekeeper Systems reported a 93% increase in Mobile Data Collector subscriptions to its data center during fiscal 2026, rising from about 4,000 to 7,700 as adoption of its video analytics and storage services accelerated. The company now has an inst...

Business Operations and Strategy

Gatekeeper Wins New US$250,000 School Bus Video Contract in New Jersey

Positive
Aug 28, 2026

Gatekeeper Systems Inc. has secured a new school bus video contract with a student transportation provider in New Jersey, marking the addition of a new customer to its portfolio. The agreement, valued at approximately US$250,000, will see a fleet of...

Business Operations and StrategyProduct-Related Announcements

Gatekeeper Expands AI-Driven Student Bus Safety With Walton County Deal

Positive
Aug 8, 2026

Gatekeeper Systems is expanding its presence in school bus safety technology with its Student Protector Program, an automated stop-arm enforcement solution that uses bus-mounted video to detect and record vehicles illegally passing stopped school bus...

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Jul 24, 2026