Positive Long-Term Outlook for Xtract One Gateway Amid Growing Backlog and Attractive Valuation

H.C. Wainwright analyst Scott Buck maintained a Buy rating on Xtract One (XTRA – Research Report) today and set a price target of C$1.00.

Scott Buck has given his Buy rating due to a combination of factors including the company’s growing contractual backlog and the recent certification of its Xtract One Gateway in the U.S. and Canada. Despite the disappointing revenue results for F3Q25, which were primarily due to deployment delays, the backlog increased to C$15.4M from C$13.8M the previous year, indicating potential for future growth.
Additionally, the company has C$6.7M in product orders ready to ship and C$21.1M in signed agreements awaiting installation, suggesting a contracted revenue closer to C$36.5M. This backlog and the anticipated revenue from new product shipments provide a positive long-term outlook. Furthermore, the valuation of XTRA shares at C$1.00 reflects an attractive opportunity with a significant upside potential, especially as the company moves towards profitability and investors recognize the growth potential in the cybersecurity space.