Park City Group, Inc. New - PCYG STOCK NEWS

ReposiTrak's Traceability Network (RTN) has surpassed 4,000 members, including over 3,000 retail stores and 1,100 suppliers, offering a solution for compliance with the FDA's FSMA 204 traceability rule. This network, representing nearly 8% of the retail grocery industry, is designed to facilitate data sharing to meet the regulatory requirements. As the January 2026 deadline approaches, food supply chain companies are urged to implement the RTN to avoid backlogs. ReposiTrak emphasizes its solution's scalability, cost-effectiveness, and ease of adoption for the food industry.

Park City Group (NASDAQ: PCYG) has declared a quarterly cash dividend of $0.015 per share, amounting to $0.06 annually. This dividend is payable to shareholders of record on March 31, 2023, with payments expected to be made on or about May 1, 2023. The company, which operates ReposiTrak, Inc., focuses on e-commerce, compliance, and supply chain solutions for grocery retailers, wholesalers, and suppliers, aiming to enhance sales and supply chain efficiency.

Park City Group (NASDAQ: PCYG) has reported a robust financial position with substantial cash reserves exceeding $22 million, zero bank debt, and a strong current ratio of 6:1. The company continues to generate significant free cash flow, providing stability amid recent banking challenges. Chairman and CEO Randall K. Fields emphasized that this strong liquidity positions Park City Group favorably in the evolving food distribution ecosystem shaped by FSMA 204. As a technology leader, the company stands apart from pre-revenue startups, presenting a solid capital structure to partners in the grocery retail sector.

Park City Group, Inc. (NASDAQ: PCYG) reported a 9% increase in total revenue for Q2 FY2023, reaching $4.75 million, and a 10% rise in recurring revenue. Operating income grew 23% to $1.18 million, while GAAP net income surged 45% to $1.27 million. Year-to-date, revenue is up 6% to $9.47 million, with net income rising 40% to $2.55 million. The company continues to repurchase shares, having bought back 88,741 shares in the quarter. A quarterly cash dividend of $0.015 per share is also declared, payable February 21, 2023. The CEO highlighted ongoing growth in recurring revenue and upcoming projects related to their ReposiTrak Traceability Network.