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ReposiTrak (NYSE: TRAK) reported fiscal Q3 2024 results, showing a 5% increase in total revenue to $5.1 million and a 6% rise in recurring revenue. Despite a 15% increase in operating expenses, the company maintained an EPS of $0.08. GAAP net income decreased by 7% to $1.6 million. ReposiTrak ended the quarter with $24.5 million in cash and no debt. The company redeemed 70,093 preferred shares for $749,995 and plans to redeem all preferred shares over three years. CEO Randall K. Fields noted significant growth in the ReposiTrak Traceability Network, predicting a doubling of revenue over the next three years.
ReposiTrak (NYSE:TRAK) is expanding its food traceability network by adding 20 new produce companies. The ReposiTrak Traceability Network® (RTN) will enable these companies to meet FDA's Key Data Elements (KDEs) requirements before the January 2026 deadline. The new members include industry leaders with a long-standing commitment to quality and sustainability, such as a century-old New England wholesaler and a leading South Texas family farm. ReposiTrak's network facilitates seamless data transmission without additional hardware or software, allowing suppliers to connect with multiple trading partners for a low, flat fee.
ReposiTrak (NYSE: TRAK) has announced the inclusion of a major distributor to its rapidly expanding ReposiTrak Traceability Network (RTN). This addition will bring over 6,500 retail stores, 6,000 suppliers, and more than a dozen distribution centers into the network. The distributor will use RTN to meet FDA's Key Data Elements (KDEs) requirements ahead of the January 2026 deadline. Suppliers will share these KDEs with the distributor and other customers. ReposiTrak's platform is scalable, allowing businesses of any size to join. Retailers and wholesalers can access the network for free, while suppliers pay a small fee per facility.
ReposiTrak, a leading food traceability and compliance network, is set to welcome 20 new seafood suppliers into its roster. These suppliers, including industry leaders in sustainability and quality, will enhance the network's reach and impact on food safety domestically and internationally. ReposiTrak simplifies compliance with FDA regulations and streamlines the onboarding process for retailers and suppliers, positioning itself as a key player in the traceability industry.
ReposiTrak, a leading food traceability and regulatory compliance network, celebrated its progress towards advancing food safety and traceability by ringing the closing bell at the New York Stock Exchange. The company transitioned from Nasdaq to NYSE under the new ticker TRAK, marking a significant milestone. ReposiTrak offers solutions for food traceability, compliance, risk management, and supply chain operations, serving over 30,000 customers globally. The ReposiTrak Traceability Network(RTN) facilitates data exchange among food supply chain operators to comply with FDA's FSMA 204 food traceability law.
ReposiTrak (NYSE: TRAK) will release its fiscal 2024 third-quarter earnings on May 15, 2024, followed by a conference call hosted by Chairman and CEO, Randall K. Fields, discussing the results. The call will be webcast and available on the Company's website. Participant and replay dial-in numbers are provided for convenience.
ReposiTrak, a food traceability and compliance network, welcomes 20 new baked goods suppliers to its platform, ensuring proactive compliance with FDA regulations by exchanging Key Data Elements for Critical Tracking Events in their supply chains. The addition of these suppliers enhances the efficiency and effectiveness of the ReposiTrak Traceability Network®, benefiting retailers and wholesalers. The platform simplifies compliance with FSMA 204 regulations and additional traceability requirements for retail and wholesale customers. With over 4,000 suppliers connected, ReposiTrak provides a seamless solution for food traceability.
