• Revenue of $10.3 million, up nearly 200% year-over-year
• Adjusted EBITDA¹ of $0.6 million and positive operating cash flow before working capital
• Gross margin of 61%, improved from 57% year-over-year
• Solid total backlog of $45.1 million

TORONTO, June 10, 2026 (GLOBE NEWSWIRE) -- Xtract One Technologies Inc. (TSX: XTRA) (OTCQX: XTRAF) (FRA: 0PL) (“Xtract One” or the “Company”) a leading technology-driven threat detection and security solution that prioritizes the patron access experience by leveraging AI, today announced its fiscal third quarter results for the three months ended April 30, 2026. All information is in Canadian dollars unless otherwise indicated.

      “I am pleased to announce several milestones achieved during the third quarter – keeping us on track for our best year ever,” stated Peter Evans, Chief Executive Officer of Xtract One. “Revenue almost tripled, to a record $10.3 million, as gross margins rose to 61 percent and the Company posted positive Adjusted EBITDA¹ for the first time ever – generating operating cash during the quarter prior to changes in working capital. This means that we are well on our way towards sustained cash-flow breakeven. At the same time, our backlog, including agreements pending installation, was a solid $45.1 million, as we continued to win new business while more rapidly converting prior bookings into revenue – reflecting increased production to meet higher demand. We are doing what we said we would do and are well on our way to profitability and cash-flow breakeven. I’m very proud of the way our team has transformed the Company, managed operating expenses, and executed on our strategic growth plan. We look forward to continued growth and momentum in the fourth quarter, and further expansion as we head into fiscal 2027.”

Third Quarter Highlights

• Revenue of $10.3 million for the three months ended April 30, 2026 versus $3.5 million in the prior-year period.
  
  
• Gross margin of 61% for the fiscal 2026 third quarter compared to 57% in the prior-year period.
  
  
• Total contract value of new bookings¹ was $9.1 million for the three months ended April 30, 2026 as compared to $4.6 million for the same period last year.
  
  
• Contractual backlog was $17.9 million at the end of the third quarter of fiscal 2026 as compared to $15.4 million in the prior-year period, excluding an additional $27.2 million of agreements pending installation versus approximately $21.1 million at the end of the third quarter of fiscal 2025.
  
  
• Comprehensive loss of $0.3 million for the three month period ended April 30, 2026 as compared to $3.3 million for the same period in fiscal 2025.
  
  
• For the first time in the Company’s history, Adjusted EBITDA¹ of positive $0.6 million for the three months ended April 30, 2026 as compared to negative $2.3 million in the prior-year period.
  
  
• The Company ended the quarter with cash and equivalents of $15.6 million, virtually unchanged from the end of the second quarter.
  
  

Financial Results for the Three Month Period Ended April 30, 2026

Consolidated revenue was $10.3 million for the three months ended April 30, 2026 as compared to $3.5 million for the same period last year, reflecting higher shipments and deployments of the Company’s weapon detection solutions. Gross profit was $6.2 million, or a gross profit margin of 61%, for the three months ended April 30, 2026 versus $2.0 million, or a gross profit margin of 57%, in the prior-year period, reflecting a recovery and gradual return to our historically higher gross margins as we move towards broader commercial deployments of our Xtract One Gateway systems.

Comprehensive loss was $0.3 million for the three month period ended April 30, 2026 as compared to $3.3 million for the same period in fiscal 2025, reflecting increased gross profit, partially offset by higher total operating expenses incurred to support a growing revenue base.

This press release should be read in conjunction with the Company’s Unaudited Condensed Consolidated Interim Financial Statements, prepared in accordance with International Financial Reporting Standards (“IFRS”) and the Company’s Management’s Discussion and Analysis for the three and nine month periods ended April 30, 2026 and 2025, which can be found on the Company’s website and under the Company’s profile on SEDAR+ at www.sedarplus.ca.

Conference Call Details

Xtract One will host a conference call to discuss its results tomorrow, June 11, 2026 at 10:00 am EST. Peter Evans, Xtract One CEO and Director, and Karen Hersh, CFO and Corporate Secretary, will provide an overview of the financial results along with management’s outlook for the business, followed by a question-and-answer period.

The webcast and presentation will be accessible on the company’s website. The webcast can be accessed here and the telephone number for the conference call is 844-481-3016 (412-317-1881 for international callers).

About Xtract One Technologies

Xtract One Technologies is a leading technology-driven threat detection and security solution leveraging AI to provide seamless and secure patron access control experiences. The Company makes unobtrusive weapons and threat detection systems that are designed to assist facility operators in prioritizing- and delivering improved “Walk-right-In” experiences while enhancing safety. Xtract One's innovative portfolio of AI-powered Gateway solutions excels at allowing facilities to discreetly screen and identify weapons and other threats at points of entry and exit without disrupting the flow of traffic. With solutions built to serve the unique market needs for schools, hospitals, arenas, stadiums, manufacturing, distribution, and other customers, Xtract One is recognized as a market leader delivering the highest security in combination with the best individual experience. For more information, visit www.xtractone.com or connect on Facebook, X, and LinkedIn. 

About Threat Detection and Security Solutions

Xtract One solutions, when properly configured, deployed, and utilized, are designed to help enhance safety and reduce threats. Given the wide range of potential threats in today's world, no threat detection system is 100% effective. Xtract One solutions should be utilized as one element in a multilayered approach to physical security.

For further information, please contact:

Xtract One Inquiries: info@xtractone.com, http://www.xtractone.com    
Media Contact: Kristen Aikey, JMG Public Relations, 212-206-1645, kristen@jmgpr.com
Investor Relations: Chris Witty, Darrow Associates, 646-438-9385, cwitty@darrowir.com

¹ Supplementary Financial Measures:

The Company utilizes specific supplementary financial measures in this earnings release to allow for a better evaluation of the operating performance of the Company’s business and facilitates meaningful comparison of results in the current period with those in prior periods and future periods. Supplementary financial measures do not have any standardized meaning prescribed under IFRS and therefore may not be comparable to measures presented by other companies. Supplementary financial measures presented in this earnings release include ‘Agreements pending installation’, ‘Total contract value of new bookings’ and ‘Adjusted EBITDA’. Agreements pending installation reflects total value of signed contracts awarded to the Company that has not been installed at the customer site. ‘Total contract value of new bookings’ is comprised of all new contracts signed and awarded to the Company, regardless of the performance obligations outstanding as of the end of the reporting period. Total contract value is the aggregate value of sales commitments from customers as at the end of the reporting period without consideration of the Company’s completion of the associated performance obligations outlined in each contract. Adjusted EBITDA is net loss for the period before interest, taxes, depreciation, and amortization and further adjusted for share-based compensation.

The following table provides a reconciliation from net loss for the period to Adjusted EBITDA (in $000s)

CAUTIONARY DISCLAIMER STATEMENT:

This news release contains forward-looking statements within the meaning of applicable securities laws that are not historical facts. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipates”, “expects”, “believes”, and similar expressions or the negative of these words or other comparable terminology. All statements other than statements of historical fact, included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include but are not limited to the risks detailed from time to time in the continuous disclosure filings made by the Company with securities regulations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements only as expressly required by applicable law.

No securities exchange or commission has reviewed or accepts responsibility for the adequacy or accuracy of this release.

Unaudited Interim Statements of Loss and Comprehensive Loss for the Three and Nine Months Ended April 30, 2026 and 2025

The following table is extracted from the Company’s unaudited condensed consolidated interim financial statements and presented in Canadian dollars to demonstrate the Statements of Loss and Comprehensive loss for the three and nine month periods ended April 30, 2026 and 2025:

Unaudited Interim Statements of Financial Position as of April 30, 2026 and July 31, 2025

The following table is extracted from the Company’s unaudited condensed consolidated interim financial statements and presented in Canadian dollars to demonstrate the Company’s financial position as of April 30, 2026 and July 31, 2025:

Unaudited Interim Statements of Cash Flows for the Nine Months Ended April 30, 2026 and 2025

The following table is extracted from the Company’s unaudited condensed consolidated interim financial statements and presented in Canadian dollars to demonstrate the Company’s cash flows for the nine month periods ended April 30, 2026 and 2025:

A photo accompanying this announcement is available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/e6055d5d-c59c-4150-a8c1-9cd49b0af915

https://www.globenewswire.com/NewsRoom/AttachmentNg/ccbbe2c6-8601-492a-938d-88ed1e6e34ef

https://www.globenewswire.com/NewsRoom/AttachmentNg/fa6aa5aa-d8bc-4371-a139-5369e76f0517

https://www.globenewswire.com/NewsRoom/AttachmentNg/2efb934e-3ea0-4acc-9318-5e18cc946c9c

The following table provides a reconciliation from net loss for the period to Adjusted EBITDA (in $000s)

The following table provides a reconciliation from net loss for the period to Adjusted EBITDA (in $000s)

Unaudited Interim Statements of Loss and Comprehensive Loss for the Three and Nine Months Ended April 30, 2026 and 2025

Unaudited Interim Statements of Loss and Comprehensive Loss for the Three and Nine Months Ended April 30, 2026 and 2025

Unaudited Interim Statements of Financial Position as of April 30, 2026 and July 31, 2025

Unaudited Interim Statements of Financial Position as of April 30, 2026 and July 31, 2025

Unaudited Interim Statements of Cash Flows for the Nine Months Ended April 30, 2026 and 2025

Unaudited Interim Statements of Cash Flows for the Nine Months Ended April 30, 2026 and 2025

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