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TORONTO, March 09, 2022 (GLOBE NEWSWIRE) — Patriot One Technologies Inc. (TSX:PAT) (OTCQX:PTOTF) (FRANKFURT: 0PL) (“Patriot One” or the “Company”), a technology-leading threat detection and patron screening solutions developer, is pleased to announce its second quarter interim financial results for the three and six month periods ended January 31 , 2022. All information is in Canadian dollars unless otherwise indicated.
The following press release should be read in conjunction with the Company’s Condensed Consolidated Interim Financial Statements, prepared in accordance with International Financial Reporting Standards (“IFRS”) and our Management’s Discussion and Analysis for the three and six month periods ended January 31, 2022 and 2021, which can be found under the Company’s profile on SEDAR at www.sedar.com.
“We are hitting an inflection point in our company’s growth. This quarter we’ve won several deals and continue to work many notable customers through the sales cycle. We are also starting to see our sales efforts translate into recurring revenues evidenced within our growing backlog ,” stated Peter Evans, Chief Executive Officer of Patriot One. “We are really encouraged by the continued uptick in the number of customers who are asking about our solutions and are requesting demonstrations. A lot of these customers are seeking us out after hearing the buzz about Patriot in the marketplace. The word has gotten out and we’re working hard to keep up.”
Company Highlights for the Fiscal Quarter Ended January 31, 2022
The following is a summary of the key business highlights for the Company for the quarter ended January 31, 2022:
- Accelerated revenue growth and recognized approximately $1.2 million of revenue during the fiscal quarter;
- Continued to build the Company’s backlog totaling over $3.5 million with an additional $1.2 million pending successful trials that will result in revenue that will be recognized in future periods;
- Completed a third party operational exercise with the National Center for Spectator Sports Safety and Security (NCS4) to …
Full story available on Benzinga.com
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