Xtract One (TSE:XTRA)
TSX:XTRA
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Xtract One
(TSX:XTRA)
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Rating:51Neutral
Price Target:
C$0.59
▲(34.77% Upside)
Action:Reiterated
Date:06/12/26
The score is held back primarily by persistent losses and ongoing cash burn despite strong revenue growth and a low-leverage balance sheet. Technicals show strong momentum but are stretched (overbought), while earnings-call commentary supports the outlook via record-revenue guidance and sizable backlog/pipeline, tempered by margin and cash-flow headwinds and weaker bookings.
Positive Factors
High revenue growth with healthy gross margins
Sustained strong top-line growth and healthy gross margins indicate clear product-market fit and scalable unit economics. Over 2–6 months this supports continued deployment momentum and recurring software/service revenue as installed base grows, improving long-term margin leverage once scale and mix normalize.
Negative Factors
Ongoing cash burn and weak cash generation
Persistent negative operating and free cash flow means the company must continue to rely on external financing or equity to fund growth and inventory build. Over several quarters, ongoing cash burn can erode the equity cushion, constrain reinvestment, and elevate dilution or refinancing risk if profitability does not materially improve.
Read all positive and negative factors
Positive Factors
Negative Factors
High revenue growth with healthy gross margins
Sustained strong top-line growth and healthy gross margins indicate clear product-market fit and scalable unit economics. Over 2–6 months this supports continued deployment momentum and recurring software/service revenue as installed base grows, improving long-term margin leverage once scale and mix normalize.
Read all positive factors
Xtract One (XTRA) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$159.81M
Dividend YieldN/A
Average Volume (3M)404.82K
Price to Earnings (P/E)―
Beta (1Y)1.04
Revenue Growth48.65%
EPS Growth25.20%
CountryCA
Employees69
SectorTechnology
Sector Strength88
IndustrySoftware - Application
Share Statistics
EPS (TTM)-0.03
Shares Outstanding249,704,990
10 Day Avg. Volume353,185
30 Day Avg. Volume404,824
Financial Highlights & Ratios
PEG Ratio6.87
Price to Book (P/B)7.03
Price to Sales (P/S)5.42
P/FCF Ratio-11.16
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-0.02
Revenue Forecast (FY)C$28.16M
Xtract One Business Overview & Revenue Model
Company Description
Xtract One Technologies Inc. is a global innovator specializing in the research, development, and commercialization of advanced threat detection solutions, operating through its Patriot and Xtract divisions. The Patriot division focuses on develop...
How the Company Makes Money
Xtract One makes money primarily by selling its security screening solutions and associated services. Key revenue streams include: (1) product/system revenue from deploying its screening technology (e.g., detection/screening units and related comp...
Xtract One Earnings Call Summary
Earnings Call Date:Mar 04, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Oct 15, 2026
Earnings Call Sentiment Positive
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.Positive Updates
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.
Negative Updates
Booking Decline Year‑Over‑Year
New bookings in Q2 were $8.7M versus $13.5M in the prior year quarter, a decline of approximately 35.6%, driven in part by timing and some deals slipping and one large pending deal removed from backlog.
Read all updates
Q2-2026 Updates
Positive
Negative
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.
Read all positive updates
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).Xtract One Financial Statement Overview
Summary
Income Statement
38
Negative
Balance Sheet
64
Positive
Cash Flow
29
Negative
| Breakdown | TTM | Jul 2025 | Jul 2024 | Jul 2023 | Jul 2022 | Jul 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 24.00M | 13.85M | 16.36M | 4.11M | 3.62M | 1.08M |
| Gross Profit | 13.22M | 7.55M | 10.26M | 2.38M | 3.34M | 1.05M |
| EBITDA | -6.65M | -9.54M | -8.96M | -14.24M | -13.04M | -11.45M |
| Net Income | -9.02M | -11.88M | -11.06M | -16.34M | -39.72M | -16.56M |
Balance Sheet | ||||||
| Total Assets | 33.96M | 23.41M | 24.94M | 19.00M | 18.06M | 49.40M |
| Cash, Cash Equivalents and Short-Term Investments | 15.60M | 8.22M | 8.63M | 8.33M | 6.28M | 9.65M |
| Total Debt | 919.53K | 1.13M | 380.93K | 356.84K | 677.28K | 985.92K |
| Total Liabilities | 14.81M | 12.73M | 10.97M | 4.26M | 3.51M | 2.56M |
| Stockholders Equity | 19.15M | 10.69M | 13.97M | 14.74M | 14.55M | 46.84M |
Cash Flow | ||||||
| Free Cash Flow | -6.38M | -6.73M | -8.57M | -13.57M | -9.37M | -12.26M |
| Operating Cash Flow | -6.38M | -6.54M | -8.14M | -13.54M | -9.27M | -11.69M |
| Investing Cash Flow | 162.09K | -756.71K | -429.75K | 364.46K | -95.76K | -544.96K |
| Financing Cash Flow | 19.97M | 6.90M | 8.87M | 15.22M | 5.99M | -514.96K |
Xtract One Technical Analysis
Positive
0.44
Price Trends
0.49
Positive
0.50
Positive
0.59
Positive
Market Momentum
0.04
Negative
64.09
Neutral
44.33
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:XTRA, the sentiment is Positive. The current price of 0.44 is below the 20-day moving average (MA) of 0.54, below the 50-day MA of 0.49, and below the 200-day MA of 0.59, indicating a bullish trend. The MACD of 0.04 indicates Negative momentum. The RSI at 64.09 is Neutral, neither overbought nor oversold. The STOCH value of 44.33 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:XTRA.
Xtract One Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
58 Neutral | C$129.24M | 422.39 | 5.88% | ― | 14.22% | ― | |
51 Neutral | C$159.81M | -18.45 | -60.80% | ― | 48.65% | 25.20% | |
48 Neutral | C$57.90M | -35.87 | -77.16% | ― | 301.63% | -164.91% | |
48 Neutral | C$85.96M | -11.46 | -24.29% | 0.71% | -7.56% | -554.27% | |
46 Neutral | C$75.26M | -6.15 | -42.66% | ― | -62.08% | -377.71% |
* Technology Sector Average
TSE:XTRA
Xtract One
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Xtract One Corporate Events
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
Xtract One Secures $70 Million Shelf Prospectus for Future Canadian Offerings
Positive
Apr 15, 2026
Xtract One Technologies has filed a final short form base shelf prospectus in all Canadian provinces and territories except Québec, allowing it to issue up to $70 million in various securities over a 25-month period. The move gives the securi...
Business Operations and StrategyProduct-Related Announcements
Xtract One Wins University of Michigan Health-West Deal for AI Security Screening
Positive
Mar 26, 2026
Xtract One Technologies, a provider of AI-driven security screening systems, has secured a deployment of its SmartGateway solution at the University of Michigan Health-West emergency department. The company’s technology focuses on unobtrusiv...
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.