Gatekeeper Systems Inc (TSE:GSI)
:GSI
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Gatekeeper Systems
(GSI)
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Rating:44Neutral
Price Target:
C$1.00
▼(-20.63% Downside)
Action:ReiteratedDate:03/21/26
The score is held back primarily by deteriorating TTM financial performance (losses and significant negative operating/free cash flow) and a clearly bearish technical setup (below major moving averages with negative MACD and very weak RSI/Stoch). A very low-leverage balance sheet provides some stability, but valuation signals are limited due to a negative P/E and no dividend yield data.
Positive Factors
Low leverage / balance-sheet flexibility
A very low debt-to-equity ratio provides durable financial flexibility, reducing near-term refinancing risk and giving management room to fund deployments, R&D, or service growth without immediate external debt. That structural buffer supports survival during multi-quarter demand softness and funds strategic initiatives.
Negative Factors
Revenue and profitability deterioration
Declining TTM revenue coupled with deep net losses shows weakened demand or execution over multiple quarters. Persisting top-line contraction undermines operating leverage and makes it harder to cover fixed costs, meaning profitability may remain impaired absent sustained revenue recovery or structural cost reduction.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage / balance-sheet flexibility
A very low debt-to-equity ratio provides durable financial flexibility, reducing near-term refinancing risk and giving management room to fund deployments, R&D, or service growth without immediate external debt. That structural buffer supports survival during multi-quarter demand softness and funds strategic initiatives.
Read all positive factors
Gatekeeper Systems (GSI) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$139.12M
Dividend YieldN/A
Average Volume (3M)520.56K
Price to Earnings (P/E)―
Beta (1Y)2.42
Revenue Growth-3.41%
EPS Growth-151.98%
CountryCA
Employees28
SectorGeneral
Sector StrengthN/A
IndustrySecurity & Protection Services
Share Statistics
EPS (TTM)N/A
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$2.75Price Target Upside118.25% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)N/A
Revenue Forecast (FY)C$44.85M
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
Gatekeeper Systems generates revenue by selling and supporting security and video-surveillance solutions deployed on vehicles and within transportation operations. Key revenue streams include: (1) Hardware/system sales: revenue from supplying onbo...
Gatekeeper Systems Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
78
Positive
Cash Flow
24
Negative
| Breakdown | Nov 2025 | Nov 2024 | Nov 2023 | Nov 2022 | Nov 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 31.79M | 37.81M | 27.85M | 20.03M | 17.23M |
| Gross Profit | 12.56M | 17.24M | 12.54M | 9.31M | 7.52M |
| EBITDA | -2.91M | 4.99M | 3.47M | 2.03M | -186.36K |
| Net Income | -3.07M | 1.99M | 2.81M | 1.88M | 120.77K |
Balance Sheet | |||||
| Total Assets | 38.52M | 22.37M | 19.61M | 23.02M | 14.40M |
| Cash, Cash Equivalents and Short-Term Investments | 14.77M | 6.72M | 4.11M | 2.60M | 3.60M |
| Total Debt | 749.20K | 983.01K | 749.62K | 4.46M | 813.79K |
| Total Liabilities | 12.42M | 4.21M | 3.87M | 10.47M | 3.30M |
| Stockholders Equity | 26.10M | 18.16M | 15.74M | 12.55M | 11.10M |
Cash Flow | |||||
| Free Cash Flow | -2.34M | 3.45M | 6.31M | -4.63M | 4.04M |
| Operating Cash Flow | -2.17M | 4.22M | 6.54M | -4.60M | 4.14M |
| Investing Cash Flow | -174.66K | -774.59K | -232.35K | -30.22K | -106.56K |
| Financing Cash Flow | 10.35M | -831.22K | -4.81M | 3.62M | -1.45M |
Gatekeeper Systems Technical Analysis
Negative
1.26
Price Trends
1.44
Negative
1.73
Negative
1.77
Negative
Market Momentum
-0.07
Negative
42.90
Neutral
81.58
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:GSI, the sentiment is Negative. The current price of 1.26 is above the 20-day moving average (MA) of 1.23, below the 50-day MA of 1.44, and below the 200-day MA of 1.77, indicating a bearish trend. The MACD of -0.07 indicates Negative momentum. The RSI at 42.90 is Neutral, neither overbought nor oversold. The STOCH value of 81.58 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 |
|---|---|---|---|---|---|---|---|
60 Neutral | C$36.78M | 75.08 | -5.11% | ― | 17.15% | 76.98% | |
58 Neutral | C$36.53M | -1,422.49 | 0.45% | 4.92% | -1.00% | -71.94% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
52 Neutral | C$577.93M | 1,049.06 | 3.11% | ― | 80.50% | 558.33% | |
44 Neutral | C$139.12M | -61.93 | ― | ― | -3.41% | -151.98% | |
41 Neutral | C$14.37M | -1.06 | 1979.16% | ― | ― | ― |
* General Sector Average
TSE:GSI
Gatekeeper Systems
1.26
0.79
170.97%
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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...
Business Operations and StrategyFinancial DisclosuresPrivate Placements and Financing
Gatekeeper Systems Lands Record Contracts and Financing Despite Q1 Loss
Positive
Jan 29, 2026
Gatekeeper Systems reported fiscal first-quarter 2026 revenue of $5.9 million, down from $7.3 million a year earlier, with gross profit of $2.7 million and a shift to a comprehensive loss of $0.8 million amid higher operating expenses. Despite the...
Business Operations and Strategy
Gatekeeper Wins Canadian OEM Contract to Equip 175 School Buses With Video and Data Systems
Positive
Jan 22, 2026
Gatekeeper Systems has secured a contract with a Canadian school bus manufacturer to factory-equip approximately 175 new buses with interior video systems and Mobile Data Collectors, alongside a subscriptions agreement with the student transportat...
Business Operations and StrategyFinancial Disclosures
Gatekeeper Begins $27 Million Long Island Rail Road Project, Maps Out Revenue Timeline
Positive
Jan 20, 2026
Gatekeeper Systems has begun work on its previously announced US$19.55 million (C$27 million) transit video project for New York’s Long Island Rail Road, its largest contract to date, and outlined an expected revenue recognition schedule thr...
Business Operations and StrategyProduct-Related Announcements
Gatekeeper Wins $741,000 Contract to Equip Florida School Buses With Video and Data Platform
Positive
Jan 20, 2026
Gatekeeper Systems has secured a new contract in Florida to equip nearly 100 school buses with its video solutions and Mobile Data Collectors, alongside subscriptions to its video analytics software. The deal, valued at approximately US$534,000 (C...
Business Operations and StrategyProduct-Related Announcements
Gatekeeper Wins California Contract to Equip Electric School Buses With Video and Data Platform
Positive
Jan 16, 2026
Gatekeeper Systems has secured a contract in California to equip more than 100 new electric school buses with interior video cameras, Mobile Data Collectors, and subscriptions to its video management software for analysis and storage, in a deal va...
Business Operations and Strategy
Gatekeeper Wins US$600,000 Rail Video Contract for Etihad Rail Project in UAE
Positive
Jan 9, 2026
Gatekeeper Systems has secured a contract worth approximately US$600,000 with LT Technology Services to supply mobile data collectors, external video systems and crash-hardened memory modules for a fleet of freight locomotives on the Etihad Rail n...
Business Operations and StrategyFinancial DisclosuresPrivate Placements and Financing
Gatekeeper Invests for Growth as Core Business Rises and New Contracts Reach $43.8 Million
Positive
Dec 30, 2025
Gatekeeper Systems reported fiscal 2025 revenue of $31.8 million, down from the prior year due to the absence of a one-time $9 million transit contract, but indicated that its underlying business grew about 10% as it expanded deployments of its Mo...
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.