Gatekeeper Systems Inc.

Good morning, ladies and gentlemen. Welcome to the Gatekeeper Systems Inc. shareholder call. At this time, all phone lines are in the listen-only mode. In fact, any time during this call you require immediate assistance, please press star zero on your keypad for the operator. Note that this call is recorded on April 28, 2026. And I would like to turn the meeting over to Doug Diamond. Please go ahead, sir.

Thank you, operator. I would like to remind everyone Everyone that our remarks today include forward-looking statements that are subject to risk and uncertainties. These statements are based on current management expectations and actual results could differ materially from those projected. These financial statements were prepared in accordance with IFRS accounting standards as issued by the International Accounting Standards Board. We may also use non-IFRS metrics like adjusted EBITDA, please refer to our MDA filed on CDAR for full reconciliations. I'd like to welcome everyone to our Q2 earnings call, and at this time, I'd like to turn it over to Kelsey, our CFO, Kelsey Chin, our CFO, to provide a review and a financial statements. Kelsey?

Thank you, Doug, and good morning, everyone. We filed our second quarter financial statements yesterday, which are available on CDAR and Gatekeeper's website. I'll provide a brief review of our second quarter results, and Doug will provide some comments and an update afterwards. Company revenue for the three and six months ended February 28, 2026 was $10.4 million and $16.3 million, respectively. Revenue in the prior year comparable periods was $5.9 million and $13.2 million, representing an increase of 75% and 23%, respectively. Cost of sales for the three and six months ended 2026 was $6 million and $9.2 million, respectively, compared to $3.6 million and $7.8 million for the same prior year comparable periods, representing an increase in direct costs of 65% and 18%, respectively. Gross profit for the three months and six months ended 2026 was $4.4 million and $7.1 million, respectively. compared to $2.3 million and $5.5 million for the same prior year comparable periods, representing an increase in growth margin of 92% and 30% respectively. Growth margin as a percentage of revenue for the three and six months ended 2026 was 43% and 44% respectively, compared to 39% and 41% for the same prior year comparable periods. Operating expenses for the three and six months ended 2026 were $4.2 million and $8.5 million respectively, as compared to $3.6 million and $6.8 million for the same prior year comparable periods, representing an increase in operating expenses of 16% and 25% respectively. Operating expenses increases is attributable to higher sales costs, research and development costs, special project costs, and bid preparation costs relating to large transit projects as the company is actively pursuing. Operating income for the three and six months ended 2026 was $207,000, an operating loss of $1.36 million, respectively, as compared to operating loss of $1.34 million and $1.3 million for the same prior year comparable periods. Total comprehensive income for the three and six months ended 2026 was $789,000 and $6,400 respectively compared to total comprehensive loss of $1,359,000 for the same prior year comparable periods. Adjusted EBITDA for the three months ended 2026 was $715,000. At the end of our second quarter, we had $13.2 million in cash compared to $14.8 million at year end. We had $3.1 million in payables and accrued liabilities at the end of our second quarter compared to $10.8 million at year end, and total liabilities of $4.2 million at the end of the second quarter compared to $12.4 million at year end. I'll now turn it over to Don to provide some comments.