Patriot One Threat Detection Profile

By Nikita Ermolaev, Published Feb 15, 2022, 09:45am EST (Info+)

The next-generation metal detector market is heating up with a number of newer entrants. While the US publicly traded Evolv may be the most widely known (with Evolv's $500 million in funding), a Canadian publicly traded rival Patriot One is often compared to them.

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Inside this note, based on feedback from Patriot One's executives, a review of their NCS4 evaluation report, and the company's financials and patent, we analyze the company's positioning and potential.

Executive *******

***** ******* *** ** *** ** a ***** ****** ** ******** ** a ****-******* *******, ********* **** ** the **** **********, *** ** ******** traded, *********** *********** *** * ******* as **** ** *** *******'* ******* size *** ********* *********.

**** ******** **** ******* **** **** rapidly, *** ** *** *** ********, which ** * ******** ****** *** Evolv, ******* ***, ****,******* ******* (*** *******), ***.

** *** ********** ****, ***** ******* One *** **** *********** (****** *** company **** **** ***** **** ** the ****** ** *** **** **********), all ** *** ********* *** ****** to **** ****** (*.*., **** *****, with *** ******* ***** *** **** money*** *********** ***********).

** *** ******** ****, *** **** concern ** *** *******'* ********** ***** size (~** *********, **** ~**% ** sales) *** ******* ********* (~$* ******* in **** ***** *** ******* ********* to ***** ******, ****** *** ****** has ****** ************* **** *** **** few ********). *******, ***** ******** ******** for ******** ******** **********, ** ** certainly ******** **** **** *** ***** substantially **** *******.

**********

******* *** ** * ******** ********-****** company ******* ** ****. *** ******* goal *** ** ************* *** ******** work ** ********** **** ******** ************ **********-**** ***** *** *** *** for ******* *********. ** **** *************** ** *** *************, *** ***** ***** *** **** product ***** ** **********-**** *****,***(** ********* ********** *****).

**** *** ***** *** ******* ******** other ********, ********* *** (***** *********** sensor), * ******* ******** ********* ****** (MSG) *** ******* *********. ** **** of *** *********** ** ***** ******** Patriot *** ******** ******** ********* ************** (***** ****** *********** ******** *******)********* ** (******** ** *******)*** ******* ** ****************** ********* **** ****** ***** ***** ********** ***** ** *** being **** ** *** *******'* ******** screening ******.

****** *** ****-**** ****** ******* **** $54 *******, ********* ** ***** ******* (****,****,****). ** *** **-****** *******'* ******* dropped ************* ******** ** *** **** period ** **** - $**** ** $1.9 ******* ********* *** ** *** end ** *** ******** **** *** Canadian **********, ******** ********* ****. *******, ******* *** ****** doubled *** ******* ($**** ** $***) in ********* ** ****. ************, ** is ***** ************* ******* ******** ** Evolv's ******* ** $*.* ******* ** the **** *******, ********* *******'* ** ******.

Stock ***********

*** *******'* ****** ************** ** ~$** million. *** *******'* ***** ** ~**% up ** *** **** *****, *** monthly ******** *****:

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******* ***** ** ** *** **** month, *** ***** ** ***** **** 47% **** *** **** * *****, as ***** *****:

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********

******* *** *** ********* * "*******™ Multi-Sensor ****** ****** ********* ********" **** contains ******* ***** ****** (** *** *****-****** *******) *** * ***** threat *********** ******** (***). ************, ** all *** ** ******* ******* *** AI-driven ********** ******.

PATSCAN *****-******

***** ****** ** ***** * "************" ****-******* ******* ******** detection ****** *** ******* *********. ** is ******* **** *** ****** ***

IPVM Image****** ***** ******** *******, **** ** rifles (****/****-****), ******** ** **** ** handguns *** ****-****** (*”+) ****** ** uncluttered ************.

*** ** **** **** ** ************ against **** ** *** ******** *****, according ** *** *******'* *******

********** ************* ********** ***** ***-****** ***** such ** ****** ******, *******, **** and *********** *******.

******* ******** ******* **** ** *** fact **** ******** ******* ******* *** Earth's ******** ***** *** **** ****** in *** ***** *** ** ******** by ******* *******. ******* ********* ******* are **** **** ***********.

*** **** ************ ******** ******* ********* by****** **, ***** *** ******* ** ** more ********* **** ************ **** (*.*. used ** ********* ******* *** *******) and *** *********** ** ***-********* ********* (e.g. ****** ******* ******). *** ** equipped **** ** **** *******, ********* to *****.

*** ****** ******** *** ****** ****** by ******** ******* **** ** ** passing ******* *** ******. **** ****** in *** *** ********** * ********* waveform ** *** ****** ****** ** the **** ****** *** ***** ** and ******* ******** *** ****** *** identify *** **** ** ** ****** and ***** ** ** ** * threat, ********* ** *********. *******, ** ** *** ******** clear ** **** *** ******* ***** waveforms *** ***** ********. *** ** also ******** **** * ***** **** for ****** ********.

** ******** ******* *** *** ********* *** **** national *********, ************-****-******* ** *** ****** *** ******** for ***** *********.

Video ********* ********

******* *** *** ************* ********* ****************** ******** *** *** ********* (***-*), video *********** ********* (***-*), ******* ***** recognition (***-*), *** ******+****** ******** ******** for **** *********** (***-**).

*** **** ** ********** ** “******** the ********* ** ******* ****** *******, fights, *** **** ****** & ****** issues” ***, ********* ** *****, *** can **** **** *** *******. ** the** ********* *********** *********, ** ****

** *** ******* ** *** ****** system. **** ** *** * ******* to *****. … *** ** *****'* a **** ***** ******** ***** *** anyone ***'* ******* ** ******* ***** school ** * ****** ************.

** *** **** ******* ************ *** ************ ** *** *** system. ********* ** ***** *******, *** VRS *** ********* ******** ****** ****** in *** ******** *******:

*** ************* ********* ****** ******* ******** camera ******* *** * *********** ** AI ******** *******, ** ******** ***** can ** ********* ******** *** ******* in ****-**** ****** * ******* ******** or ***** **** ** *********** ******.

***** ******** *** "**** ******** ****** recognition" *** ***** ***** *** ************ mentioned ** *** *******. ******* *** claims **** *** *** *** ********** distinguish ****, **** ********* *** ***** innocuous ***** *** ******* ******** *********** about "******* ***** ****", "**** *******", "anomalous ************* ** ******", ***.. ***** areas ** ***** ********* ************ **** been *********** *** *** ****** *********** of *** ** ******* ** **.

Price *** *********

******* ** *** **** ****/************-***** *** standard ******* ******** ******, ********* ** Evans. **** ********* *********** ************** ********* ******* ***'* ***** ** follows

*** ************ ***** ** ********* **** typically ** *** ****, **'* ***** a ** ***** ******** **** * one **** **** ***** ** *** back *** ** ****

******* *** ******** ** ******* ******* on *** ********. ********** ******* ** typically ** *** **** ** ********* of ******* *** ****.

NCS4 *********** ********

** *******-******** ************ ****** *** ********* ****** ****** and ********(****) ********* *********** ********* ** *** MSG ****** *** ********* ***-**** ***** ***** ** *** ******'* performance.

********* **** ********* ** *** ********* locations (******* ****** ***** (*******, **) and ******* ***** (*******, **)) ** two ********* ******** ** *** *******. Detectors **** ****** **** * ******* of ****** ******* *** ********* ***** for ********* *******' ********* *** ** various ********* ******.

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**********

*** ** ******** ** * "************" screening ****** ******* ** ********* "****, knives, *** ***** *******" **** ****** throughput *** ****** ************** ************ **** a ************ ***** ********. ***, *** the **** ******, **** ******** ** the ****** ******** **** **** **% of ***** ****** (***** **** **** 6"), ***** *** ******** ** **** buckles, ****, *** *****. *** *.* also ******** ***% ** ******* ******* and ****** ******* **** **** ******.

*******, ******* ***'* ****** *** ****** disassembled ****, *** **** **** ** composite *********, ** ***** ******:

** **** ****** ** ******* ********* the ******* ** ****** ************ **** (for *******, *** ******, ******, *****). This *** **** ****** ** ******** ************* **** **** *** ********* to ******* ** ******* ***** *** NIJ *********, *** *** ********* ** NCS4 ** **** ** ***** ****** on **** (**** ****** **** *** not **** ** *** ******** **** matrix). ** *** ***** ** ******** those ************ ********** ** *** *********.

** **** **** *** ********** **** *** ********* ******* ** detect ********* **** (*.*. * *****) and ******** **** ** *** ****** these ******* *****.

*** ** *** ********** ** *** MSG ** *** ******* ** ** implemented ** ******* ****, ** *** company's ******* ****:

************ ******* *** ** ****** ** overt, ******* ** ******** *** *** include ******* *****, **** *******, *******, bollard ** ******* *****, ******** ** floors, ******** *** ************* ********.

*** **** *** * ******* ********* than ****** **** ***** ******* (********* to **** ****** ****************** ***) *** ****** * ***** *** adjustable ******* - *** ******* *** be ********* ** *-* **** ******* Evolv ******* *** * *"*' **** passage.

******, *** ** * ******* ******** detection ******, ***** ***** **** ** does *** ******** * ******** *****. This ***** ******* ***'* ****** ********** safe *** * ***** *****. *******, there ** ** ***** ** ** proof **** ****** *******, **** ** Evolv ******* *** **** ********, *** harmful ** *** ***.

*************

***** ** *** **********, *** *** at ***** * *********** ***********:

  • ******* *********** ** "****** *******" ************
  • *** ********* ***** ** *****, ****** knives, *** **** ****
  • **** ***** ***** **** ** ********* items
  • ******** ******** ** ****** ******* *****

Varying *********** ** "******" ******* ************

****** ***** ******* *** **** ********, who, ********* ** ***** *********, *** suitable *** * ******* ** ********* environments, ******* ***'* ****** *** *** work ** "****** *******" ************, ** Evans ********* ** ****:

*** ******* ********* ** *** *** works **** ** “******* *********” ************. As ** ******* ** ***** ******* - *** ******* ***** ******* **** a ****** *******. ** *** ** may *** **** **** ** “****** cluttered” ************ (*.*. ******* **** *********) depending ** * ****** ** ***** environmental **********.

** "****** *******" ************ *** ******** separate ********* ** ****** *****, **** as ********* *** *******, *** ******* One's *******. **** ************* ******* *** number ** ****** **** *** *********** (i.e. **** **** ********** *** *** false ***** ****) ******* **, ********* schools *** *******. *******, ***** ****** that ******* *** ***** **** ******* but *** ******* ***** ****** ***** product ** ****** *** ****-**** *********** before **********.

Low ********* ***** ** *****, ****** ******, *** **** ****

******* ***** ******** **** "***** *******" is *** **** ********* *** ***** screening ******, *** **** ****** ****** that *** *** ********** ************ **** various ****** ** ****** *** **** even ** **** ********.

** *** *********** ********, *** *.* detection **** ** *** *****-******* ****** was **** **%. ** *** ** the ****** *** *********, *** ****** detected **** **% ** ***** ****** (blade **** **** *"). ******-***** ****** (blade *" - *") **** **** a ******* *** *** *** *.* - **** **% ** **** **** detected.

High ***** ***** **** ** ********* *****

******* ***** **** *** ******* ** by *** **** ********** *** ***** alarms ** ******** *****. *** ****** detected **** **** **% ** *** cellphones *** ********** ***** **** "***** phones" ****** *** ****** ********** ** the ******. ****, *** *.* ** highly ********* ** * "*********** ** common ***** ******* ** *******" - it ***** ****** **% ** *** time (* *** ** * ****** will **** ** ********** ***-****). *******, Evans ****** **** **** ****** *** skewed ** *** ******** ***** *** a ******* ***** ******** **** ** "between *% *** *%".

Possible ******** ** ****** ******* *****

** ******* ******* (*** *.*) ** the ******* *** ****** ********* ** highly ******* *****, ** **** ********** experienced, "*****-** ********" ****** ***** *** video ******* ***** ***** * ****** was ********, ********* ****** ************, *** low *********** ** **** ** ******** threats, ***** *** ****** "*** *** consistently ***** ** *** ****** ** multiple ******* ****** ** **** *********." The ******* **** **** **** "****.*** ** ****** * ******* ** sell. ***** ********** ******* ******** ************." Neither **** *** **** **** ****** that ****** ** *** ***** *******.

Patriot *** ** *****

** *** ********* ******** *******, ***** addressed ******* ***'* *********** ** ***** and ** ****** **** *** ***'* detection ************ *** ******** ** *** Evolv's ** ***** *****:

******* ***'* *** ******* **** **** can **** ******** **** *** ***** cannot:

*****, ***** ***? * *** **** say ********* **** ** ***'* **** any *********** ** *** ****** *** down ** **** *** ** ** detected ** ***** ** **** * stadium ****. ****, ** **** **** detection. ****** ** ***.

******* *** ******** *****'* **** ** awareness *** ******** *** ******* **** they *** ****** *** *** ******:

****, **'** ****** ** ****. *****? I **** **** * *** ** credit ***** **'* ***, **** **** an ********* **** ** ** ***** of ******, **** ******* * ******* a *** ***** ****** ****. *****? And ** **** *** **** **** start ** ***** ** ********* *** branding. *****. *** ****, **** ** it ****** ** **? *** ****, we're ****** ***, ** *** ******. And *** ******** **** **'** ***** from ******** **'** ******* ****, ** they ******** *** ** ** * much ****** ********** ** * ****** velocity *** ****. ** *'* ******* with ***** **'** **********.

Comments (4)

**** **** * ******* ** ***** and * **** ** ** *******?!? I'd **** * *** ** ********** to ******, *** ** * ******, the ********* ** *** ******* ******* a ******* *** * ************ ***** product.

Agree
Disagree
Informative
Unhelpful
Funny

******* *** **** ** ******* ***** in *** ****-**** ******, ******* **** rate ** *** **** ** **** per *****/*** *******/*** ****/***., *** **********.

** ** ****** *** *****-***** ********* to ********** ******. *** ******* **** rate *** ******* ****** ****** ** considered **** ********* *******, **** **** over *** *******’* ******* *****.

Agree
Disagree
Informative
Unhelpful
Funny

******, ***, *.** ** ***** ** 2020 ***** ** **** ** **** hardly ***** ** ** ****** ** the ***** *********, *** ** ***** like ***** *** ***** **** ***** in *************, ** *'* ** ********* about ****** *** ******* ******* * definite **** *******, *** *'* ********* not ****** ********* ** **** ****** through *** **** *** **** ** product ** ***** ** **** *** it, ********** **** ** ***** ***** are ****** **** ******* ** *** marketplace ****** ** **********. **** ** opinion!

Agree
Disagree
Informative
Unhelpful
Funny

** ***** ***** ********* ** ****, the **** *** ********* *** ** the *** ** *** ******** **** the ******** **********.

Agree
Disagree
Informative
Unhelpful
Funny
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