XTRAF (Xtract One Technologies) Beneish M-Score : -2.12 (As of Dec. 15, 2024)

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What is Xtract One Technologies Beneish M-Score?

The zones of discrimination for M-Score is as such:

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Good Sign:

Beneish M-Score -2.12 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Xtract One Technologies's Beneish M-Score or its related term are showing as below:

XTRAF' s Beneish M-Score Range Over the Past 10 Years
Min: -8.2 Med: -1.58 Max: 13.61
Current: -2.12

During the past 13 years, the highest Beneish M-Score of Xtract One Technologies was 13.61. The lowest was -8.20. And the median was -1.58.

Xtract One Technologies Beneish M-Score Historical Data

The historical data trend for Xtract One Technologies's Beneish M-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Xtract One Technologies Beneish M-Score Chart

Xtract One Technologies Annual Data

Trend

May15

May16

Jul17

Jul18

Jul19

Jul20

Jul21

Jul22

Jul23

Jul24

Beneish M-Score

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-0.25

-2.90

-3.59

-0.36

Xtract One Technologies Quarterly Data
	Jan20	Apr20	Jul20	Oct20	Jan21	Apr21	Jul21	Oct21	Jan22	Apr22	Jul22	Oct22	Jan23	Apr23	Jul23	Oct23	Jan24	Apr24	Jul24	Oct24
Beneish M-Score	Get a 7-Day Free Trial															-2.65	-1.14	-0.18	-0.36	-2.12

Competitive Comparison of Xtract One Technologies's Beneish M-Score

For the Software - Application subindustry, Xtract One Technologies's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Xtract One Technologies's Beneish M-Score Distribution in the Software Industry

For the Software industry and Technology sector, Xtract One Technologies's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Xtract One Technologies's Beneish M-Score falls into.

Xtract One Technologies Beneish M-Score Calculation

The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.

The M-Score Variables:

The M-score of Xtract One Technologies for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 0.895

0.528 * 1.0337

0.404 * 0.7505

0.892 * 2.535

0.115 * 1.0741

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.4572

4.679 * -0.168128

0.327 * 1.535

-2.15

This Year (Oct24) TTM:

Last Year (Oct23) TTM:

Total Receivables was $2.68 Mil.
Revenue was 2.637 + 4.111 + 3.425 + 2.175 = $12.35 Mil.
Gross Profit was 1.682 + 2.686 + 1.979 + 1.329 = $7.68 Mil.
Total Current Assets was $11.00 Mil.
Total Assets was $17.23 Mil.
Property, Plant and Equipment(Net PPE) was $2.38 Mil.
Depreciation, Depletion and Amortization(DDA) was $1.60 Mil.
Selling, General, & Admin. Expense(SGA) was $9.60 Mil.
Total Current Liabilities was $5.84 Mil.
Long-Term Debt & Capital Lease Obligation was $0.74 Mil.
Net Income was -2.136 + -1.73 + -1.954 + -2.472 = $-8.29 Mil.
Non Operating Income was 0 + -0.086 + -0.033 + -0.08 = $-0.20 Mil.
Cash Flow from Operations was -1.421 + -1.248 + -1.758 + -0.77 = $-5.20 Mil.

Total Receivables was $1.18 Mil.
Revenue was 2.272 + 1.343 + 0.649 + 0.607 = $4.87 Mil.
Gross Profit was 1.52 + 0.939 + 0.392 + 0.279 = $3.13 Mil.
Total Current Assets was $6.65 Mil.
Total Assets was $12.01 Mil.
Property, Plant and Equipment(Net PPE) was $1.79 Mil.
Depreciation, Depletion and Amortization(DDA) was $1.35 Mil.
Selling, General, & Admin. Expense(SGA) was $8.29 Mil.
Total Current Liabilities was $2.92 Mil.
Long-Term Debt & Capital Lease Obligation was $0.07 Mil.

1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Total Receivables in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI	=	(Receivables_t / Revenue_t)	/	(Receivables_t-1 / Revenue_t-1)
	=	(2.684 / 12.348)	/	(1.183 / 4.871)
	=	0.217363	/	0.242866
	=	0.895

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI	=	GrossMargin_t-1	/	GrossMargin_t
	=	(GrossProfit_t-1 / Revenue_t-1)	/	(GrossProfit_t / Revenue_t)
	=	(3.13 / 4.871)	/	(7.676 / 12.348)
	=	0.642579	/	0.621639
	=	1.0337

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI	=	(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t)	/	(1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
	=	(1 - (10.997 + 2.378) / 17.225)	/	(1 - (6.647 + 1.786) / 12.01)
	=	0.223512	/	0.297835
	=	0.7505

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.

SGI	=	Sales_t	/	Sales_t-1
	=	Revenue_t	/	Revenue_t-1
	=	12.348	/	4.871
	=	2.535

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.

DEPI	=	(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1))	/	(Depreciation_t / (Depreciaton_t + PPE_t))
	=	(1.354 / (1.354 + 1.786))	/	(1.595 / (1.595 + 2.378))
	=	0.43121	/	0.40146
	=	1.0741

Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.

6. SGAI = Sales, General and Administrative expenses Index

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI	=	(SGA_t / Sales_t)	/	(SGA_t-1 /Sales_t-1)
	=	(9.603 / 12.348)	/	(8.286 / 4.871)
	=	0.777697	/	1.701088
	=	0.4572

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI	=	((LTD_t + CurrentLiabilities_t) / TotalAssets_t)	/	((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
	=	((0.743 + 5.835) / 17.225)	/	((0.069 + 2.919) / 12.01)
	=	0.381887	/	0.248793
	=	1.535

8. TATA = Total Accruals to Total Assets

Total accruals calculated as the change in working capital accounts other than cash less depreciation.

TATA	=	(IncomefromContinuingOperations_t	-	CashFlowsfromOperations_t)	/	TotalAssets_t
	=	(NetIncome_t - NonOperatingIncome_t	-	CashFlowsfromOperations_t)	/	TotalAssets_t
	=	(-8.292 - -0.199	-	-5.197)	/	17.225
	=	-0.168128

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Xtract One Technologies has a M-score of -2.15 suggests that the company is unlikely to be a manipulator.

Xtract One Technologies Beneish M-Score Related Terms

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Xtract One Technologies Business Description

Industry

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XTRA:Canada

Address

257 Adelaide Street West, Suite 400, Toronto, ON, CAN, M5H 1X9

Website

https://www.xtractone.com

Xtract One Technologies Inc is a technology-driven threat detection and security solution leveraging AI to provide seamless and secure patron access control experiences. The principal business of the Company is the development and commercialization of an integrated, layered, AI-powered threat detection gateway solution, referred to as the Platform, with the focus of enhancing public health and safety. The company makes unobtrusive threat detection systems that enable venue-building operators to prioritize and deliver improved patron experiences while providing unprecedented safety. Xtract One's creative multi-sensor gateway product enables companies to covertly screen for weapons at points of entry without disrupting the flow of traffic. Company revenue is earned from Platform Segment.