Patriot One Technologies - CEO, Peter Evans.
CEO, Peter Evans.
Source: Patriot One Technologies.
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  • Patriot One Technologies (PAT) has announced its financial results for the fiscal quarter ended October 31, 2021
  • Revenue was $0.70 million for the three month period ended October 31, 2021 as compared to $0.38 million for the same period in 2020
  • The backlog of sales commitments not yet recognized as revenue was $3.1 million
  • Loss for the quarter ended October 31, 2021 was $1.1 million as compared to $3.3 million for the same period in 2020
  • Patriot One Technologies Inc is a Canadian-based security systems developer
  • Patriot One Technologies Inc. (PAT) opened trading at C$0.44 per share

Patriot One Technologies (PAT) has announced its financial results for the fiscal quarter ended October 31, 2021. 

Peter Evans, Chief Executive Officer of Patriot One commented on the results.

“We made substantial progress this quarter in building our sales pipeline and setting ourselves up well for a strong fiscal year. We completed a number of third-party evaluations and certifications on behalf of the Pro-Sports leagues which was a critical step in building towards significant deployments.”

“We also demonstrated our capabilities at a number of NFL, NHL and NBA events which has generated a lot of excitement around our Platform,” he added.

Q1 highlights

  • Finalized an agreement with Raytheon Intelligence and Space
  • Continued to build the company’s sales funnel and backlog of customer commitments with a total backlog of over $3 million as of October 31, 2021
  • Released the next phase of the threat detection multi-sensor gateway 
  • Introduced facility insights, a new solution built on its artificial intelligence-powered Platform
  • Completed a number of third-party evaluations and certifications of our Platform including certification by Semper Vigilo Security

Q1 financial results

  • Revenue was $0.70 million for the three month period ended October 31, 2021 as compared to $0.38 million for the same period in 2020
  • The backlog of sales commitments not yet recognized as revenue was $3.1 million as of October 31, 2021 as compared to $0.9 million as at October 31, 2020
  • Loss and comprehensive loss for the quarter ended October 31, 2021 was $1.1 million as compared to $3.3 million for the same period in 2020
  • Basic and diluted loss per share was $0.01 for the quarter ended October 31, 2021 as compared to $0.02 for the quarter ended October 31, 2020

Patriot One Technologies Inc is a Canadian-based security systems developer. The company’s principal business is to commercialize a system to detect concealed weapons utilizing radar technologies.

Patriot One Technologies Inc. (PAT) opened trading at C$0.44 per share.

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