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Xtract One Technologies
Peter Evans repositioned Xtract One as an AI weapons-detection company in 2022, deploying SmartGateways to stadiums and hospitals across North America.
Xtract One Technologies
Xtract One Technologies started in 2015 as Patriot One Technologies, a Canadian security company that initially marketed radar-based concealed-weapon detection alongside a broader suite of threat-identification tools. The early product line suffered from long sales cycles and inconsistent performance claims, leading to a stock-price collapse and a strategic reset. Peter Evans, who had joined as CEO in 2020 from a background scaling IoT and security technology businesses, led a comprehensive restructuring. By March 2022, the company rebranded as Xtract One and concentrated its engineering resources on a single platform — a multi-sensor, AI-driven entry-screening system designed to replace legacy walk-through metal detectors in stadiums, arenas, schools, and hospitals. The firm's SmartGateway system uses millimeter-wave sensors paired with machine-learning algorithms to scan for weapons like guns and knives while allowing personal items such as phones and keys to pass through without triggering an alarm. This reduces secondary screening and keeps pedestrian flow rates high — a direct operational pitch to venue operators where throughput matters. The company deploys on a subscription-based hardware-with-software model, generating recurring revenue from sensor arrays installed at customer entry points. Confirmed deployment sites include facilities managed by major North American sports franchises and a growing footprint in US K-12 school districts. Xtract One has reported contracts with the Milwaukee Brewers' American Family Field, the NHL's Arizona Coyotes, and a multi-year agreement with a large US hospital network, signaling adoption across sports, entertainment, and healthcare verticals. Xtract One is headquartered in Toronto and trades on the Toronto Stock Exchange under the symbol XTRA, with a US listing on the OTCQX market. The firm has approximately 90 employees, with additional sales and engineering presence in the United States to serve a customer base that is increasingly weighted toward US institutions. The company has not disclosed wealth-origin capital nor does it operate as a family office; it is a publicly listed operating company whose capital comes from equity markets. May 2024: Xtract One announced a multi-year contract with Oak View Group to deploy SmartGateway systems across several US sports and live-entertainment venues (per the firm, May 2024), extending its reach into one of the largest arena-management groups in North America. What structurally differentiates Xtract One is that it exited the broad physical-security arms race and committed to a single, software-centric product built around the visitor-experience problem — not just threat detection. Competitors in the venue-screening space largely iterate on magnetometer hardware that generates friction; Xtract One engineered a system that treats weapons detection as a data-classification task solved at the edge, on-device, with sensors designed to reduce physical contact and bag checks. This narrowed focus, coupled with a recurring-revenue deployment model, turns physical security procurement into a managed service conversation rather than a one-time capital expenditure sale — a distinction that shapes both the sales cycle and the competitive moat against incumbent hardware vendors.
General information
Firm type
other
Year founded
2015
AUM
Undisclosed
Location
Region
North America
Country
Canada
City
Toronto
Corporate office
Toronto, ON, Canada
Principals
Peter Evans
CEO
Sector focus
Frequently asked questions
Why did Patriot One Technologies rebrand to Xtract One?
Patriot One Technologies faced significant commercial headwinds with its original radar-based concealed-weapon detection product, which suffered from slow adoption and performance skepticism. Peter Evans, who became CEO in 2020, led a strategic overhaul that consolidated multiple security product lines into a single AI-driven entry-screening platform. The March 2022 rebrand to Xtract One signaled the end of that fragmented product portfolio and a full commitment to multi-sensor weapons detection purpose-built for high-throughput venues.
How does Xtract One's screening technology differ from standard metal detectors?
Conventional walk-through metal detectors use electromagnetic induction to detect metallic objects, which generates a high rate of false positives from items like keys, phones, and belt buckles. Xtract One's SmartGateway platform pairs millimeter-wave sensors with on-device machine-learning models that classify threats by shape and material signature. This allows the system to distinguish firearms and knives from benign personal effects without requiring visitors to empty pockets or remove belts during screening, preserving pedestrian flow speeds at venue entry points.
Is Xtract One a family office or an operating company?
Xtract One Technologies is a publicly traded operating company listed on the Toronto Stock Exchange (XTRA) and the OTCQX market in the United States. It is not a family office or an investment manager. The firm sells physical security screening hardware and software to venue operators, schools, and hospitals under a subscription-based deployment model. Its capital structure comes from public equity markets rather than private family wealth.
Who makes the key investment and product decisions at Xtract One?
Peter Evans, the CEO since 2020, drives both strategic direction and product focus. He previously led IoT and security-technology businesses and executed the consolidation of Patriot One's scattered product lines into the current SmartGateway platform. As a public company, major capital-allocation and strategy decisions are also subject to board oversight, but Evans is the named operational lead for the firm's pivot to AI-driven weapons detection.
Which types of venues does Xtract One serve?
Xtract One targets four primary verticals: major-league sports arenas, live-entertainment venues, K-12 school districts, and large hospital networks. Confirmed deployments include American Family Field (Milwaukee Brewers), the Arizona Coyotes' arena, and a multi-year US hospital network contract. A May 2024 agreement with Oak View Group extended the firm's reach into additional US sports and entertainment venues managed by one of the largest arena operators in the country.
How does Xtract One generate revenue?
The company sells its SmartGateway sensor arrays under a subscription model that bundles hardware installation, software licensing, and ongoing support into recurring contracts. This structure shifts the customer procurement decision from a large upfront capital outlay to an operating-expense commitment, which the firm argues shortens sales cycles and creates stickier, multi-year engagements. Revenue is recognized over the term of each subscription agreement rather than at the point of hardware delivery.
What is Xtract One's relationship to Oak View Group?
In May 2024, Xtract One announced a multi-year contract with Oak View Group to deploy SmartGateway screening systems across US sports and live-entertainment venues. Oak View Group is a significant arena-management and hospitality company whose portfolio includes a large number of North American stadiums, making the agreement a material channel-expansion event for Xtract One's venue-screening business. The partnership places Xtract One's technology inside venues that OVG operates or consults for, broadening the firm's installed base beyond individual team contracts.
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