Gatekeeper Systems Inc (TSE:GSI)
:GSI
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Gatekeeper Systems
(GSI)
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Rating:49Neutral
Price Target:
C$1.50
▲(2.04% Upside)
Action:ReiteratedDate:04/30/26
The score is held back primarily by heavy cash burn and ongoing losses (negative operating cash flow and free cash flow, negative margins/ROE). Offsetting this is a strong, low-debt balance sheet and improving revenue growth, while technicals are only mildly positive and valuation remains challenged due to negative earnings and no dividend.
Positive Factors
Very low leverage / strong solvency
The company’s extremely low debt (debt-to-equity ~0.03) and equity-funded asset base materially reduce refinancing and interest-rate risk. This balance-sheet flexibility gives management time to execute turnaround plans, pursue contracts, or raise capital on better terms without immediate solvency pressure.
Negative Factors
Material negative cash flow
Sustained operating and free cash flow deficits near -$18M annually create runway risk and increase reliance on financing or equity raises. Persistent cash burn constrains reinvestment in sales, R&D, and support, and makes long-term execution contingent on securing external funding or rapid margin recovery.
Read all positive and negative factors
Positive Factors
Negative Factors
Very low leverage / strong solvency
The company’s extremely low debt (debt-to-equity ~0.03) and equity-funded asset base materially reduce refinancing and interest-rate risk. This balance-sheet flexibility gives management time to execute turnaround plans, pursue contracts, or raise capital on better terms without immediate solvency pressure.
Read all positive factors
Gatekeeper Systems (GSI) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$157.89M
Dividend YieldN/A
Average Volume (3M)520.56K
Price to Earnings (P/E)―
Beta (1Y)2.42
Revenue Growth11.27%
EPS Growth-43.78%
CountryCA
Employees28
SectorGeneral
Sector StrengthN/A
IndustrySecurity & Protection Services
Share Statistics
EPS (TTM)0.00
Shares Outstanding110,415,120
10 Day Avg. Volume581,324
30 Day Avg. Volume520,563
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 Target
C$1.85Price Target Upside25.85% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)>-0.01
Revenue Forecast (FY)C$41.65M
Gatekeeper Systems Business Overview & Revenue Model
Company Description
Gatekeeper Systems Inc. designs, manufactures, markets, and sells video security solutions for mobile and extreme environments in Canada and the United States. Its mobile video solutions integrate high-definition digital video with the global posi...
How the Company Makes Money
GSI makes money mainly by selling and deploying video surveillance and related fleet technology solutions to customers (notably transit agencies and fleet operators). Revenue is typically generated through: (1) product and system sales (e.g., onbo...
Gatekeeper Systems Financial Statement Overview
Summary
Income Statement
46
Neutral
Balance Sheet
73
Positive
Cash Flow
28
Negative
| Breakdown | TTM | Nov 2025 | Nov 2024 | Nov 2023 | Nov 2022 | Nov 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 34.86M | 31.79M | 37.81M | 27.85M | 20.03M | 17.23M |
| Gross Profit | 14.07M | 12.56M | 17.24M | 12.54M | 9.31M | 7.52M |
| EBITDA | -3.78M | -2.91M | 4.99M | 3.47M | 2.03M | -186.36K |
| Net Income | -3.77M | -3.07M | 1.99M | 2.81M | 1.88M | 120.77K |
Balance Sheet | ||||||
| Total Assets | 42.90M | 38.52M | 22.37M | 19.61M | 23.02M | 14.40M |
| Cash, Cash Equivalents and Short-Term Investments | 13.23M | 14.77M | 6.72M | 4.11M | 2.60M | 3.60M |
| Total Debt | 607.52K | 749.20K | 983.01K | 749.62K | 4.46M | 813.79K |
| Total Liabilities | 4.21M | 12.42M | 4.21M | 3.87M | 10.47M | 3.30M |
| Stockholders Equity | 38.69M | 26.10M | 18.16M | 15.74M | 12.55M | 11.10M |
Cash Flow | ||||||
| Free Cash Flow | -18.03M | -2.34M | 3.45M | 6.31M | -4.63M | 4.04M |
| Operating Cash Flow | -17.83M | -2.17M | 4.22M | 6.54M | -4.60M | 4.14M |
| Investing Cash Flow | -107.89K | -174.66K | -774.59K | -232.35K | -30.22K | -106.56K |
| Financing Cash Flow | 22.86M | 10.35M | -831.22K | -4.81M | 3.62M | -1.45M |
Gatekeeper Systems Technical Analysis
Positive
1.47
Price Trends
1.39
Positive
1.67
Negative
1.78
Negative
Market Momentum
0.02
Negative
61.67
Neutral
79.79
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:GSI, the sentiment is Positive. The current price of 1.47 is above the 20-day moving average (MA) of 1.26, above the 50-day MA of 1.39, and below the 200-day MA of 1.78, indicating a neutral trend. The MACD of 0.02 indicates Negative momentum. The RSI at 61.67 is Neutral, neither overbought nor oversold. The STOCH value of 79.79 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 |
|---|---|---|---|---|---|---|---|
63 Neutral | C$35.98M | 75.08 | -5.11% | ― | 13.88% | 84.17% | |
58 Neutral | C$39.45M | -1,422.49 | 0.45% | 4.92% | 4.05% | -27.40% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
52 Neutral | C$717.70M | 110.78 | 4.64% | ― | 78.57% | 45.25% | |
49 Neutral | C$157.89M | -132.51 | -18.19% | ― | 11.27% | -43.78% | |
41 Neutral | C$31.40M | -1.06 | 1979.16% | ― | ― | ― |
* General Sector Average
TSE:GSI
Gatekeeper Systems
1.43
0.99
225.00%
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Gatekeeper Systems Corporate Events
Business Operations and Strategy
Gatekeeper Wins C$937,000 OEM School Bus Video Contract With Recurring Subscriptions
Positive
Mar 17, 2026
Gatekeeper Systems has secured a C$937,000 contract to equip more than 230 new school buses, built by a Canadian manufacturer for a U.S. student transportation provider, with interior video systems and Mobile Data Collectors. The deal also include...
Business Operations and Strategy
Gatekeeper Wins Follow-On OEM Contract for Paratransit Video Systems
Positive
Mar 6, 2026
Gatekeeper Systems has secured a follow-on contract from Coach Equipment Bus Sales to supply Mobile Data Collectors, Rear Vision Systems, Video Display Mirrors and other video devices for factory installation on more than 55 new paratransit vehic...
Business Operations and StrategyFinancial Disclosures
Gatekeeper Wins US$600,000 in US School Bus Video Upgrade and Subscription Contracts
Positive
Feb 4, 2026
Gatekeeper Systems has secured approximately US$600,000 (C$820,000) in school bus video upgrade and subscription contracts with existing school district customers in Georgia and California, underscoring growing demand for its safety and data solut...
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.