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VOTI DETECTION VOTI Detection Reports First Quarter Results • • • • • Strategic Initiatives & Technological Innovation Lead To Positive Adjusted EBITDA In the Quarter First quarter revenue of $ 6.3 million vs. $ 6.0 million posted in fiscal 2020 in line with guidance provided Gross margins rebound to pre - pandemic levels of 37 % Positive adjusted EBITDA in the quarter result of success of company's strategic and restructuring initiatives put in place in fiscal 2020 Company delivered 167 security scanning system units to a wide range of global clients across a diversified base of sectors , including the rebound of the sports & entertainment vertical First time sales to three customers of VotiINSIGHTS , VOTI's proprietary fleet management software platform Company benefitting from commercialization of its next generation MATRIX Series X - Ray scanners resulting in higher margins Significantly improved cash position Maintaining forecast of return to pre - pandemic annual sales level and gross margins resulting in expected positive Adjusted EBITDA for fiscal 2021 ( barring any further unforeseen negative impact or escalation of COVID - 19 ) MONTREAL , March 31 , 2021 / CNW Telbec / - VOTI Detection Inc. ( " VOTI " or " the Company " ) ( TSXV : VOTI ) , a leading - edge Canadian technology company that develops latest - generation X - ray security systems based on 3D Perspective ™ technology , today announced record results for its first quarter ended January 31 , 2021 . " I am very proud of the Company's performance in this first quarter of our new fiscal year . " commented Rory Olson , President and CEO of VOTI Detection . " It's a true testament to the hard work and dedication of our team that we were able to emerge from the tremendous challenges that we faced throughout fiscal 2020 caused by the pandemic , to report such a solid first quarter . Our revenue of $ 6.3 million surpassed the pre - pandemic revenue reported in our fiscal 2020 first quarter of $ 6.0 million and is in line with the guidance we provided in February . In addition , we posted positive Adjusted EBITDA in the quarter as well . We believe that the initiatives that we have taken , particularly on the cost cutting front , along with the solid foundation that has been laid , our backlog and our leading technology , places us in a position to significantly grow our operations on a global basis over the coming years . " Added Olson , " We are maintaining our forecast for this current fiscal year , of a return to pre - pandemic levels both in sales and gross margins , resulting in expected positive Adjusted EBITDA for the full year FY21 ( barring any further unforeseen negative impact