Canada · Delayed Price · Currency is CAD Plurilock Security Earnings Call Transcripts
Fiscal Year 2026
-
Major contract wins with NASA and NATO expand access to U.S., Canadian, and NATO government markets, supported by a growing services segment and strong industry partnerships. The platform's unique reach and high entry barriers position it for continued growth in both public and private sectors.
-
The meeting confirmed quorum, approved all motions including director elections, auditor reappointment, and incentive plan ratification. Management cited global defense trends and cybersecurity threats as growth drivers, with strong shareholder support noted.
Fiscal Year 2025
-
Q3 2025 revenue grew 8% year-over-year to CAD 15.4 million, with critical services up 165% and now 21.2% of revenue. Gross margin improved, EBITDA loss narrowed, and cost optimization plus a CAD 3 million debenture strengthened the balance sheet. Pipeline and market expansion in defense and allied sectors remain strong.
-
Q2 2025 revenue grew 15% year-over-year to CAD 16.4 million, led by a 159% surge in Critical Services revenue. Gross margin dipped to 12% due to a one-time low-margin order, but adjusted EBITDA loss improved 42%. Strategic focus shifts to high-margin services and international expansion.
-
The meeting confirmed quorum, presented audited 2024 financials, and approved all motions including director elections, auditor reappointment, an amended incentive plan, and article changes. No questions were raised by stakeholders.
-
Revenue grew 48% year-over-year to CAD 19M in Q1 2025, driven by a 178% surge in high-margin critical services and strong new business wins. Gross margin declined to 12.2%, while adjusted EBITDA loss widened. Focus remains on scaling recurring services and margin expansion.
-
Rapid revenue and margin growth driven by acquisitions and upselling critical services to large enterprise clients. The team features top industry talent, and the company is significantly undervalued compared to peers, with strong market demand due to rising cyber threats and regulatory pressures.
Fiscal Year 2024
-
Gross sales bookings rose 15% to CAD 81M, with gross margin up to 13.1% and critical services revenue surging 152%. Strategic focus remains on scaling high-margin services, expanding in the U.S. and NATO markets, and preparing for a potential U.S. uplisting.
-
Q3 2024 saw lower revenue year-over-year due to timing of large orders, but professional services grew 40% and gross margin improved for the nine-month period. Focus remains on expanding high-margin Critical Services, with commercial contracts driving future growth and profitability.
-
Shareholders approved all motions, including director elections, auditor appointment, and incentive plans. Strategic highlights included a $6M U.S. Treasury deal, new patent filings, and key executive hires, with ongoing focus on cybersecurity growth and risk management.
-
Cybersecurity demand is surging, driving strong order flow and revenue growth, especially in high-margin Critical Services. Recent financing and operational efficiencies position the company for profitability and long-term value creation.