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Xtract One
(TSX:XTRA)
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Rating:47Neutral
Price Target:
C$0.43
▼(-17.69% Downside)
Action:Reiterated
Date:10/23/26
The score is held down primarily by continued losses and negative free cash flow, despite strong revenue momentum and a conservative balance sheet. Technical signals are broadly bearish with the stock trading below key moving averages, while valuation is constrained by loss-making earnings and no dividend support. The earnings call adds support due to clear operating leverage, backlog growth, and improving cash dynamics, but risks remain around bookings variability and gross-margin pressure.
Positive Factors
Strong Revenue Growth
The sharp revenue increase demonstrates strong customer adoption and successful commercialization of the XtractOne Gateway alongside continued SmartGateway demand. If sustained across education, healthcare, commercial, and international markets, this scale can improve operating leverage and strengthen market position.
Negative Factors
Persistent Losses and Negative Free Cash Flow
The company has not yet established sustainable profitability or internally funded growth, despite improving losses and cash usage. Continued negative earnings and free cash flow can require additional financing, constrain investment flexibility, and leave the balance sheet exposed if the transition takes longer.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Revenue Growth
The sharp revenue increase demonstrates strong customer adoption and successful commercialization of the XtractOne Gateway alongside continued SmartGateway demand. If sustained across education, healthcare, commercial, and international markets, this scale can improve operating leverage and strengthen market position.
Read all positive factors
Xtract One (XTRA) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$117.05M
Dividend YieldN/A
Average Volume (3M)136.75K
Price to Earnings (P/E)―
Beta (1Y)1.24
Revenue Growth108.03%
EPS Growth47.36%
CountryCA
Employees71
SectorTechnology
Sector Strength88
IndustrySoftware - Application
Share Statistics
EPS (TTM)-0.03
Shares Outstanding260,103,330
10 Day Avg. Volume236,400
30 Day Avg. Volume136,752
Financial Highlights & Ratios
PEG Ratio0.41
Price to Book (P/B)7.68
Price to Sales (P/S)4.86
P/FCF Ratio-35.66
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$1.00Price Target Upside92.31% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)>-0.01
Revenue Forecast (FY)C$41.30M
Xtract One Business Overview & Revenue Model
Company Description
Xtract One Technologies Inc. is a global innovator specializing in the research, development, and commercialization of advanced threat detection solutions, operating through its Patriot and Xtract divisions. The Patriot division focuses on develop...
Xtract One Earnings Call Summary
Earnings Call Date:Oct 21, 2026
(Q4-2026)
| % Change Since: |
Next Earnings Date:Dec 08, 2026
Earnings Call Sentiment Positive
The call was strongly positive overall. Management reported record revenue growth, significant operating leverage, improved adjusted EBITDA, a larger contractual backlog, a growing qualified pipeline, low churn, expanding customer adoption, and multiple legislative and funding tailwinds. The principal challenges were lower year-over-year bookings, quarterly booking lumpiness, gross-margin pressure from the newer XtractOne Gateway, and timing uncertainty around enterprise approvals, mandates, and grants.Positive Updates
Record Fiscal-Year Revenue Growth
Fiscal 26 revenue reached a record $28.8 million, up 108% from $13.9 million in fiscal 25. Fourth-quarter revenue was $8.2 million, up 144% from $3.3 million in the prior-year period, primarily driven by the successful commercial rollout of the XtractOne Gateway and continued SmartGateway growth.
Negative Updates
Bookings Declined Year Over Year
Total contract value of new bookings was $32.2 million in fiscal 26, down from $38.5 million in fiscal 25. Fourth-quarter bookings were $6 million, down from the prior quarter. Management attributed the quarterly variability to lumpy customer buying cycles, seasonal school activity, and the timing of larger multi-phase contracts.
Read all updates
Q4-2026 Updates
Positive
Negative
Record Fiscal-Year Revenue Growth
Fiscal 26 revenue reached a record $28.8 million, up 108% from $13.9 million in fiscal 25. Fourth-quarter revenue was $8.2 million, up 144% from $3.3 million in the prior-year period, primarily driven by the successful commercial rollout of the XtractOne Gateway and continued SmartGateway growth.
Read all positive updates
Company Guidance
For fiscal 27, management outlined 4 key operating priorities: continued sales expansion focused on 4 areas—Education, health care, commercial, and international; focused R&D; continuing to deliver on a highly scalable operating model by holding cost growth below revenue growth; and customers as advocates. Management said it aims to maintain the fiscal 26 pattern of operating expense growth of about 13% against revenue growth of 108%, continue to drive operating leverage into ongoing and sustained profitability, continue to invest in research and development and sales and marketing, and that there is nothing planned that requires a step change into a significantly higher OpEx cost. Management also said the XtractOne Gateway is expected to follow a similar path to Smart Gateway, with the margin gap between the 2 products expected over time to narrow, reducing volatility, and trending upwards.Xtract One Financial Statement Overview
Summary
Income Statement
44
Neutral
Balance Sheet
63
Positive
Cash Flow
38
Negative
| Breakdown | Jul 2026 | Jul 2025 | Jul 2024 | Jul 2023 | Jul 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 28.82M | 13.85M | 16.36M | 4.11M | 3.62M |
| Gross Profit | 15.04M | 7.55M | 10.26M | 2.38M | 3.34M |
| EBITDA | -4.72M | -9.54M | -8.96M | -14.24M | -13.04M |
| Net Income | -6.99M | -11.88M | -11.06M | -16.34M | -39.72M |
Balance Sheet | |||||
| Total Assets | 36.73M | 23.41M | 24.94M | 19.00M | 18.06M |
| Cash, Cash Equivalents and Short-Term Investments | 17.29M | 8.22M | 8.63M | 8.33M | 6.28M |
| Total Debt | 878.11K | 1.13M | 380.93K | 356.84K | 677.28K |
| Total Liabilities | 18.50M | 12.73M | 10.97M | 4.26M | 3.51M |
| Stockholders Equity | 18.23M | 10.69M | 13.97M | 14.74M | 14.55M |
Cash Flow | |||||
| Free Cash Flow | -3.93M | -6.73M | -8.57M | -13.57M | -9.37M |
| Operating Cash Flow | -3.53M | -6.54M | -8.14M | -13.54M | -9.27M |
| Investing Cash Flow | -392.68K | -756.71K | -429.75K | 364.46K | -95.76K |
| Financing Cash Flow | 12.82M | 6.90M | 8.87M | 15.22M | 5.99M |
Xtract One Technical Analysis
Negative
0.52
Price Trends
0.52
Negative
0.55
Negative
0.53
Negative
Market Momentum
-0.02
Positive
37.37
Neutral
16.67
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:XTRA, the sentiment is Negative. The current price of 0.52 is above the 20-day moving average (MA) of 0.50, above the 50-day MA of 0.52, and below the 200-day MA of 0.53, indicating a bearish trend. The MACD of -0.02 indicates Positive momentum. The RSI at 37.37 is Neutral, neither overbought nor oversold. The STOCH value of 16.67 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:XTRA.
Xtract One Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | C$135.57M | 232.81 | 8.75% | ― | 13.07% | -16.88% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
57 Neutral | C$53.72M | -24.62 | -66.53% | ― | 265.22% | -127.59% | |
47 Neutral | C$117.05M | -16.13 | -41.81% | ― | 108.03% | 47.36% | |
47 Neutral | C$64.29M | -6.29 | -38.65% | 1.45% | -6.63% | -207.84% | |
44 Neutral | C$57.55M | -3.75 | -43.54% | ― | -66.56% | -940.17% |
* Technology Sector Average
TSE:XTRA
Xtract One
0.45
-0.47
-51.09%
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Xtract One Corporate Events
Business Operations and StrategyFinancial Disclosures
Xtract One Doubles Revenue and Narrows Loss as AI Security Deployments Scale
Positive
Oct 21, 2026
Xtract One reported record fiscal 2026 revenue of $28.8 million, up 108% year over year, driven by expanded deployments of its SmartGateway and the first full year of commercial roll-out of Xtract One Gateway. Despite higher production and install...
Business Operations and Strategy
Xtract One Wins $1 Million Texas School District Deal for AI Security Systems
Positive
Oct 19, 2026
Xtract One Technologies has secured a roughly USD $1 million contract from Willis Independent School District in Willis, Texas, to install 15 AI-powered weapons detection systems across high school and middle school campuses and district facilitie...
Business Operations and StrategyFinancial Disclosures
Xtract One Sets Date for Fiscal 2026 Earnings Release and Investor Call
Neutral
Oct 13, 2026
Xtract One Technologies, a Toronto-based provider of AI-powered threat detection and security screening systems, develops unobtrusive gateway solutions that help facility operators scan for weapons and other threats at entry and exit points. The c...
Business Operations and Strategy
Xtract One Wins Metro Toronto Convention Centre Deal for AI Security Gateways
Positive
Aug 27, 2026
Xtract One Technologies has secured a five-year contract to deploy its Gateway security systems at the Metro Toronto Convention Centre, one of Canada’s premier event venues. Sixteen systems will be installed across more than a dozen entrance...
Business Operations and Strategy
Xtract One Deepens U.S. Airline Partnership With Expanded AI Security Deployment
Positive
Aug 19, 2026
Xtract One Technologies is an AI-driven security solutions provider specializing in unobtrusive weapons and threat detection systems for high-traffic venues such as airports, schools, hospitals, stadiums, and industrial facilities. Its SmartGatewa...
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.