XT

Xtract One Technologies

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Xtract One Technologies Inc. Company Research Report



Company Overview



  • Name: Xtract One Technologies Inc.


  • Mission: To leverage purpose-built AI to create transformative technology solutions that deliver exceptional experiences, safer environments, and informed operational insights for customers, patrons, and staff.


  • Founded: 2016, with research collaboration with McMaster University.


  • Founders: No information is available.


  • Key People:

  • Peter Van Der Gracht - Chairman

  • Peter Evans - CEO & Director

  • Bill Maginas - Director

  • John Gillies - Director

  • Lea M Ray - Director


  • Headquarters: Toronto, ON, Canada.


  • Number of Employees: No information is available.


  • Revenue: Record revenue of $16.4 million for the fiscal year ending July 31, 2024.


  • Known For: Industry-disrupting, AI-powered security technology solutions that prioritize patron access experience while ensuring top-tier safety and security through unobtrusive weapons and threat detection systems.


Products



SmartGateway


  • Description: An AI-powered sensor system providing discrete and effective patron screening for weapons and prohibited items at venue entrances.

  • Key Features:

  • Scales to handle up to 2400 patrons per hour.

  • Provides a frictionless, non-invasive screening experience.

  • Provides real-time traffic management capabilities such as customizable displays, traffic lights, and audio signals.


Xtract One Gateway


  • Description: A weapons detection solution built for environments with a medium volume of personal belongings.

  • Key Features:

  • Scans individuals and their belongings for weapons without needing extensive secondary checks.

  • Capable of screening up to 3000 people per hour.

  • Minimizes unnecessary alarms when encountering laptops and personal electronics.


Xtract One View


  • Description: A centralized security management platform that offers real-time monitoring and analytics.

  • Key Features:

  • Provides a unified overview of all security operations.

  • Integrates with other Xtract One products and third-party systems.

  • Offers analytics capabilities to detect potential threats and optimize security protocols.


Recent Developments



  • Contract with Global Automotive Manufacturer: Announced a contract to enhance security at select North American facilities using Xtract One's AI-based security solutions, including deployment at Tennessee and Ohio sites (October 22, 2024).


  • U.S. Department of Homeland Security SAFETY Act Designation: Awarded for the Multi-Sensor Gateway portfolio, validating the technology's efficacy in protecting public spaces (April 29, 2024).


  • Strategic Partnerships:

  • In 2022, announced a strategic partnership with Oak View Group.

  • In 2023, Madison Square Garden Sports made a strategic investment in Xtract One.


  • Product Launches:

  • Launched Xtract One Gateway with bi-directional configurable screening capabilities for environments with medium volume belongings (Post-July 31, 2024).


  • Financial Performance: Record fourth-quarter revenue of $5.6 million and an annual revenue of $16.4 million, showcasing strong market demand (October 24, 2024).


  • Conference Participation:

  • Participating in the LD Micro Main Event XVII, showcasing their innovative security solutions (October 21, 2024).


Conclusion



Xtract One Technologies Inc. continues to solidify its position as a leader in AI-driven security solutions, with significant advances in weapons detection technology. Their partnerships with global automotive companies and recognition from DHS reinforce their industry stature and expansion potential. Their innovative products like SmartGateway and Xtract One Gateway highlight their commitment to providing safe and user-friendly security solutions, aligning technology and user experience without compromising effectiveness.