The call conveyed a constructive growth narrative: strong revenue momentum (+70% YoY), a larger qualified pipeline (~$105M) and near‑record backlog (~$48.8M), notable international traction (e.g., British Museum), and a strengthened cash position from an $11.5M financing. Key challenges include compressed gross margins from the Xtract One Gateway ramp (Q2 estimated as a trough), higher operating cash usage to build inventory, a YoY decline in new bookings, and some backlog timing variability. Management expects margins for the Xtract One Gateway to improve toward SmartGateway levels over coming quarters and reiterated confidence in record fiscal 2026 revenue, making the outlook positive despite near‑term margin and cash‑flow headwinds.

Company Guidance

Management guided to a strong fiscal 2026, calling for record revenue as Q2 revenue was ~$5.8M (up 70% YoY and +26% QoQ) and backlog stood at $48.8M ( $13.9M contractual + $34.9M signed pending installation), with ~83% of pending value tied to upfront deals and most expected to deploy within 12 months; Q2 bookings were $8.7M (73% upfront) vs $13.5M a year ago, the company has ~150 Xtract One Gateway orders (~$21M) with ~1/3 delivered, a USD $105M qualified pipeline split roughly evenly between SmartGateway and Xtract One Gateway, and $15.7M cash on hand after an $11.5M bought‑deal. Management said production and supplier throughput are ramping with no major manufacturing bottleneck, expects continued revenue acceleration in H2, and sees margins improving as One Gateway start‑up costs normalize (Q2 gross margin 54% vs 70% LY; SmartGateway mid‑to‑high‑60s; Xtract One Gateway low‑50s today, targeting the 60s over coming quarters), while operating costs remain controlled (S&M $1.8M, R&D $1.6M, G&A ≈$2.0M) and Q2 operating cash use was $4.2M (≈$1.4M ex working capital).

Strong Revenue Growth

Total revenue of approximately $5.8M in Q2 FY2026, up 70% year-over-year from $3.4M and up 26% quarter-over-quarter from Q1, with management commenting Q2 may represent a trough in gross margin and expecting continued revenue acceleration through fiscal 2026.

Near‑Record Backlog and Contracted Pipeline

Contractual backlog and signed agreements pending installation totaled $48.8M versus $37.2M a year ago (+31%), comprised of $13.9M contractual backlog and $34.9M signed agreements pending installation, with management expecting the majority of pending agreements to deploy within 12 months.

Large Product Orders and Deployments

Approximately 150 Xtract One Gateways ordered (~$21M) with roughly one‑third (~$7M) delivered and installed by end of Q2; deployments now present across almost every U.S. state and multiple school districts.

Expanding Qualified Sales Pipeline

Qualified sales pipeline of about $105M (USD), reported roughly evenly split between SmartGateway and Xtract One Gateway, signaling a deep funnel of future opportunities.

Notable Customer Win — British Museum

Secured a high‑profile international customer (British Museum), which management highlighted as a landmark win that can drive further global opportunities and referenceability.

Production and Supply Improvements

Management reported resolving many initial manufacturing and supply chain constraints for the Xtract One Gateway, increased production throughput, and a phased ramp of manufacturing to match demand while suppliers are on track to expand throughput.

Balanced Product Revenue Mix

Revenue is beginning to split more evenly between SmartGateway and Xtract One Gateway, with SmartGateway gross margins remaining healthy in the mid‑ to high‑60% range and the company expecting One Gateway margins to improve toward similar levels over time.

Strengthened Cash Position

Closed a bought deal raising approximately $11.5M (gross proceeds, including over‑allotment) and ended the quarter with $15.7M in cash and cash equivalents, providing capital to accelerate production and working capital needs.

Xtract One (TSE:XTRA) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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TSE:XTRA Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Jun 04, 2026	2026 (Q3)	>-0.01 / -	-0.02	―	―	―
Mar 04, 2026	2026 (Q2)	-0.01 / -0.01	-0.01	0.00% (0.00)		―
Dec 03, 2025	2026 (Q1)	-0.01 / -0.01	-0.01	0.00% (0.00)	―	―
Oct 23, 2025	2025 (Q4)	-0.01 / -0.02	-0.01	-100.00% (-0.01)	―	―
Jun 05, 2025	2025 (Q3)	-0.01 / -0.02	-0.01	-100.00% (-0.01)	―	―
Mar 12, 2025	2025 (Q2)	-0.02 / -0.01	-0.02	50.00% (+0.01)	―	―
Dec 05, 2024	2025 (Q1)	-0.01 / -0.01	-0.014	28.57% (<+0.01)	―	―
Oct 24, 2024	2024 (Q4)	-0.01 / -0.01	-0.017	41.18% (<+0.01)	―	―
Jun 06, 2024	2024 (Q3)	-0.02 / -0.01	-0.021	52.38% (+0.01)	―	―
Mar 07, 2024	2024 (Q2)	- / -0.02	-0.026	23.08% (<+0.01)	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

TSE:XTRA Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Mar 04, 2026	C$0.52	C$0.50	-3.85%
Dec 03, 2025	C$0.63	C$0.60	-4.76%
Oct 23, 2025	C$0.71	C$0.71	0.00%
Jun 05, 2025	C$0.56	C$0.47	-16.07%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does Xtract One (TSE:XTRA) report earnings?

Xtract One (TSE:XTRA) is schdueled to report earning on Jun 04, 2026, TBA (Confirmed).

What is Xtract One (TSE:XTRA) earnings time?

Xtract One (TSE:XTRA) earnings time is at Jun 04, 2026, TBA (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

What companies are reporting earnings today?

You can see a list of the companies which are reporting today on TipRanks earnings calendar.

What is TSE:XTRA EPS forecast?

TSE:XTRA EPS forecast for the fiscal quarter 2026 (Q3) is >-0.01.