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VOTI DETECTION Voti Detection Reports Second Quarter Results Strategic Initiatives Lead To Significant Improvement in Results Through First Half of Fiscal 2021 • Second quarter revenue of $ 5.9 million vs. $ 4.3 million , an increase of 38 % posted in fiscal 2020 as company continues to benefit from rebound in sales • Improved results continue to reflect success of company's strategic and restructuring initiatives put in place in fiscal 2020 • • Company delivered 178 security scanning system units to a wide range of global clients across a diversified base of sectors Important inroads continue to be made within the sports and entertainment as well as the state and local government verticals 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 from supply chain and logistics or escalation of COVID - 19 ) MONTREAL , June 29 , 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 second quarter ended April 30 , 2021 . " Our second quarter positions us to meet our targets for the full fiscal year . " commented Rory Olson , President and CEO of VOTI Detection . " We are seeing important positive indicators including a backlog for product , service and extended warranties due to the reopening of the economy and pent up demand for our X - Ray scanners . In addition , sales to sporting arenas in North America and to state and local governments in the US , two very important verticals for us , have been very strong . In fact , in the second quarter , we saw the widest distribution of transactions in the history of our company . We see this as a positive indicator for growth going forward . With our 3D Perspective technology , we believe that we are offering the market the product that it is looking for . On a cautionary note , we still believe that we will have to navigate certain headwinds over the coming months related to currency exchange rates and worldwide supply chain and logistics challenges resulting from the reopening of the global economy . We are following these factors closely and putting in place mitigation strategies to ensure that we maintain our momentum . " For a discussion of risks related to the Covid - 19 pandemic , please see VOTI's MD & A filed today under VOTI's profile at www.sedar.com Financial Highlights ( Unaudited , all amounts are in Canadian dollars ) Q2 2021 5,878,960 Period Ended April 30 Revenue Gross profit 1,830,289 Q2 2020 4,263,857 1,366,259 Gross margin % * 31 % Net loss ( 2,885,173 ) 32 % ( 349,520 ) Adjusted net income ( loss ) * ( 2,014,072 ) ( 1,284,612 ) Adjusted EBITDA * ( 711,752 ) Change 1,615,103 464,030 ( 1 % ) ( 2,535,653 ) ( 729,460 ) ( 941,413 ) 229,661 YTD 2021 12,203,175 4,195,125 YTD 2020 10,305,873 3,271,458 34 % 32 % Change 1,897,302 923,667 2 % ( 4,015,704 ) ( 2,881,266 ) ( 2,574,123 ) ( 2,786,636 ) ( 1,441,581 ) ( 94,630 ) ( 208,377 ) ( 2,020,566 ) 1,812,189 Cash ( used in ) from operating activities ( 728,021 ) ( 372,351 ) ( 355,670 ) 1,474,998 ( 3,586,005 ) 5,061,003 Revenue