Park City Group, Inc. New - PCYG STOCK NEWS

Park City Group (NASDAQ: PCYG) has announced the promotion of Derek Hannum to Chief Customer Officer, a newly created role aimed at enhancing customer relationships and driving revenue growth. Hannum, who has over 35 years of experience, previously served as senior vice president of customer success and has been integral to the company’s substantial growth in compliance management. His deep understanding of the company’s SaaS strategy positions him well to lead efforts in capitalizing on market opportunities related to supply chain transparency, traceability, and safety.

XF Enterprises has adopted ReposiTrak's Compliance Management Solution to enhance its supplier approval process and ensure adherence to SQF standards. This strategic move addresses challenges related to supplier documentation management by automating the collection and verification of compliance documents. With over 105,000 facility connections, ReposiTrak aims to bolster supply chain safety and transparency. This partnership is expected to significantly minimize risks, allowing XF Enterprises to focus on product quality and brand protection.

ReposiTrak has appointed Paul Damaren to its executive team, enhancing its capacity in the food safety sector. With over 35 years of experience across hospitality and agri-food, Damaren aims to strengthen connections in the food industry to address compliance and risk management. The company has a proven track record of helping clients maintain regulatory compliance and improve operational controls. ReposiTrak’s comprehensive solutions facilitate vendor discovery and boost sales.

Park City Group, Inc. (NASDAQ: PCYG) reported a 13% decrease in total revenue to $4.6 million for the first quarter of fiscal 2022, primarily due to a decrease in Marketplace revenue. However, recurring SaaS revenue grew by 10% to $4.4 million. Operating expenses dropped 26% to $3.4 million, contributing to a 71% increase in net income to $947,000. The company has no debt and $20 million in cash, positioning it well for future growth, especially in traceability solutions ahead of FDA mandates.

Park City Group, Inc. (NASDAQ: PCYG) plans to release its fiscal 2022 first quarter earnings results on November 15, 2021, after market close. A conference call with CEO Randall K. Fields will follow at 4:15 p.m. ET, available via the company’s investor relations website. Participants can join via specific dial-in numbers provided, with replay options available until December 15, 2021. The company focuses on enhancing supply chain efficiencies through its ReposiTrak platform.

Park City Group, Inc. (NASDAQ: PCYG) reported a strong fiscal year ending June 30, 2021, with total revenue rising 5% to $21.0 million, driven by increased MarketPlace and SaaS subscription revenues. Recurring SaaS revenue grew 11% to $17.7 million, and GAAP net income surged 158% to $4.1 million. However, fourth-quarter revenue declined 21% to $4.6 million due to lower MarketPlace activity. The company ended the fiscal year with $24.0 million in cash and announced an additional $12 million stock buyback authorization.

Park City Group, Inc. (NASDAQ: PCYG) plans to announce its fiscal 2021 fourth quarter earnings results on September 28, 2021, after the market closes. A conference call hosted by Chairman and CEO Randall K. Fields will take place at 4:15 p.m. ET, allowing investors to discuss the results. Participants can join the call using the provided dial-in numbers. The company, which operates ReposiTrak, focuses on enhancing supply chain efficiencies and compliance in the B2B e-commerce sector.

The Food Traceability Leadership Consortium (FTLC) is implementing a cost-effective food traceability solution in response to FDA regulations requiring comprehensive product tracking in the supply chain. Partnering with ReposiTrak, the Consortium aims to provide an end-to-end Traceability Network utilizing existing technologies to minimize costs for suppliers. This initiative promises low operational impact and affordability, addressing the challenges posed by FSMA Section 204. The FTLC invites industry participation to enhance food safety and compliance while ensuring minimal financial burden on the food supply chain.

ReposiTrak has launched a new series of Corporate Social Responsibility (CSR) program solutions aimed at helping organizations manage suppliers for diversity and sustainability. The solutions will automate the supplier vetting and onboarding process, addressing the challenges of collecting necessary documents from suppliers. With a network of 105,000 facilities across 100 countries, ReposiTrak enhances supplier compliance and documentation management. This initiative aims to reduce the administrative burden of CSR programs and improve visibility and accountability in supplier diversity and sustainable sourcing.