Q2 2026 Xtract One Technologies Inc. Earnings Call Transcript
Key Points
- Revenue in the second quarter rose by 70% year-over-year, indicating strong growth.
- The company has a near-record backlog of approximately $49 million, showcasing strong demand.
- Xtract One Gateway is gaining momentum in North America and internationally, with significant interest from the UK.
- The company has expanded its manufacturing capabilities, allowing for increased production and faster customer installations.
- Xtract One Technologies Inc (XTRAF) has a strong balance sheet with $15.7 million in cash and cash equivalents, supporting its growth trajectory.
- Gross profit margin decreased to 54% from 70% in the prior year period, impacted by higher expenses related to initial start-up costs.
- Operating cash usage increased to $4.2 million, reflecting a notable investment in working capital.
- New bookings for the quarter were $8.7 million, down from $13.5 million in the prior year quarter.
- The company removed one large deal from its pending backlog due to extended deployment timelines, impacting backlog figures.
- Comprehensive loss for the quarter was higher than the same period in the prior year, despite revenue growth.
Good morning, and welcome to the Xtract One Technologies fiscal 2026 second quarter earnings conference call. (Operator Instructions) Please note this event is being recorded. I would now like to turn the conference over to Chris Witty, Investor Relations Adviser. Please go ahead.
Good morning, everyone, and welcome to Xtract One's fiscal 2026, second 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 some of Xtract 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 provide a brief disclaimer statement as shown on Slide 2.
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