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Gatekeeper Systems
(GSI)
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Rating:52Neutral
Price Target:
C$2.00
▲(7.53% 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 growth
The 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 operations
Current 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.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue growth
The 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.
Read all positive factors
Gatekeeper Systems (GSI) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$191.94M
Dividend YieldN/A
Average Volume (3M)104.90K
Price to Earnings (P/E)―
Beta (1Y)2.48
Revenue Growth23.49%
EPS Growth51.27%
CountryCA
Employees28
SectorGeneral
Sector StrengthN/A
IndustrySecurity & Protection Services
Share Statistics
EPS (TTM)-0.01
Shares Outstanding111,592,620
10 Day Avg. Volume84,850
30 Day Avg. Volume104,899
Financial Highlights & Ratios
PEG Ratio0.22
Price to Book (P/B)6.33
Price to Sales (P/S)5.19
P/FCF Ratio-70.43
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)0.04
Revenue Forecast (FY)C$66.55M
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 ...
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...
Gatekeeper Systems Financial Statement Overview
Summary
Income Statement
44
Neutral
Balance Sheet
78
Positive
Cash Flow
22
Negative
| Breakdown | TTM | Nov 2025 | Nov 2024 | Nov 2023 | Nov 2022 | Nov 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 39.94M | 31.79M | 37.81M | 27.85M | 20.03M | 17.23M |
| Gross Profit | 17.06M | 12.56M | 17.24M | 12.54M | 9.31M | 7.52M |
| EBITDA | -1.01M | -2.91M | 4.99M | 3.47M | 2.03M | -186.36K |
| Net Income | -1.12M | -3.07M | 1.99M | 2.81M | 1.88M | 120.77K |
Balance Sheet | ||||||
| Total Assets | 44.36M | 38.52M | 22.37M | 19.61M | 23.02M | 14.40M |
| Cash, Cash Equivalents and Short-Term Investments | 7.21M | 14.77M | 6.72M | 4.11M | 2.60M | 3.60M |
| Total Debt | 502.78K | 1.16M | 983.01K | 749.62K | 4.46M | 813.79K |
| Total Liabilities | 4.02M | 12.42M | 4.21M | 3.87M | 10.47M | 3.30M |
| Stockholders Equity | 40.34M | 26.10M | 18.16M | 15.74M | 12.55M | 11.10M |
Cash Flow | ||||||
| Free Cash Flow | -21.46M | -2.34M | 3.45M | 6.31M | -4.63M | 4.04M |
| Operating Cash Flow | -21.28M | -2.17M | 4.22M | 6.54M | -4.60M | 4.14M |
| Investing Cash Flow | -91.20K | -174.66K | -774.59K | -232.35K | -30.22K | -106.56K |
| Financing Cash Flow | 23.03M | 10.35M | -831.22K | -4.81M | 3.62M | -1.45M |
Gatekeeper Systems Technical Analysis
Neutral
1.86
Price Trends
1.59
Positive
1.46
Positive
1.56
Positive
Market Momentum
0.03
Positive
51.25
Neutral
57.47
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:GSI, the sentiment is Neutral. The current price of 1.86 is above the 20-day moving average (MA) of 1.75, above the 50-day MA of 1.59, and above the 200-day MA of 1.56, indicating a neutral trend. The MACD of 0.03 indicates Positive momentum. The RSI at 51.25 is Neutral, neither overbought nor oversold. The STOCH value of 57.47 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for TSE:GSI.
Gatekeeper Systems Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
64 Neutral | C$45.30M | -16.10 | -25.12% | ― | 11.25% | -51.98% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
52 Neutral | C$191.94M | -136.51 | -3.14% | ― | 23.49% | 51.27% | |
48 Neutral | C$556.05M | -598.73 | -1.21% | 21.33% | 70.81% | -143.82% | |
39 Underperform | C$18.07M | -0.41 | -7968.55% | ― | ― | ― |
* General Sector Average
TSE:GSI
Gatekeeper Systems
1.69
-0.20
-10.58%
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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 i...
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 ...
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 ...
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.