Welcome to our dedicated page for Track Group news (Ticker: TRCK), a resource for investors and traders seeking the latest updates and insights on Track Group stock.
Track Group Inc (TRCK) provides cutting-edge tracking technology and monitoring systems for offender management programs worldwide. This page serves as the definitive source for official company announcements, offering stakeholders timely access to strategic developments.
Investors and industry professionals will find curated updates on earnings reports, product innovations, and strategic partnerships. The archive includes regulatory filings, technology deployment announcements, and service expansion updates critical for understanding TRCK's market position.
Our news collection enables informed decision-making through verified information about tracking system enhancements and compliance milestones. Regular updates reflect TRCK's commitment to advancing offender management solutions through reliable monitoring technologies.
Bookmark this page for direct access to primary source materials about TRCK's operational developments. Check back frequently for essential announcements regarding real-time tracking systems and community safety initiatives.
Track Group (OTCQB: TRCK) reported Q1 FY25 financial results with mixed performance. Total revenue decreased 3.3% to $8.7 million compared to $9.0 million in Q1 FY24, primarily due to reduced monitoring assignments in Michigan, Virginia, and the sold Chilean subsidiary. However, this was partially offset by increased assignments in Illinois, Puerto Rico, and the Bahamas.
The company showed improvements in several metrics: gross profit increased 5.2% to $4.4 million, operating income improved to $0.1 million from a previous loss of ($0.2M), and Adjusted EBITDA rose to $1.2 million with a margin of 14.4%. Despite these operational improvements, the company reported a net loss of ($2.0M) compared to net income of $461 in the prior year.
For FY25, Track Group projects revenue between $35-36 million with an Adjusted EBITDA margin of 14-15%.
Track Group (OTCQB: TRCK) reported its fiscal year 2024 results with total revenue of $36.9M, up 7.0% from FY23's $34.5M. The company saw increased gross profit of $17.2M, up 12.5% from FY23, driven by higher monitoring assignments in Illinois and the Bahamas. However, Track Group recorded an operating loss of ($1.9M) and a net loss of ($3.1M).
Notable improvements include Adjusted EBITDA of $5.4M (14.6% margin), up from $3.8M (11.1%) in FY23. The company's cash position decreased to $3.6M from $4.1M due to technology reinvestment and settlement payments. For FY25, Track Group projects revenue between $35M-$36M with an Adjusted EBITDA margin of 14-15%.
Track Group (OTCQB: TRCK) reported its Q3 FY24 financial results, showing positive growth in key areas. The company's total revenue increased by 6% to $9.2 million, compared to $8.7 million in Q3 FY23. Gross profit saw a significant rise of 17% to $4.3 million. Notably, Adjusted EBITDA jumped by 44% to $1.6 million.
Despite these improvements, the company reported an operating loss of ($0.5M) and a net loss attributable to common shareholders of ($0.9M). The cash balance decreased by 53% to $1.9 million compared to September 30, 2023. Track Group's CEO, Derek Cassell, expressed optimism about maintaining these positive trends throughout the year. The company's outlook for FY24 projects revenue between $37-38 million and an Adjusted EBITDA margin of 11-15%.
Track Group (OTCQB: TRCK) announced its second-quarter fiscal 2024 financial results, showing a revenue increase of 8% to $9.0 million, up from $8.3 million in Q2 FY23. Gross profit rose 6% to $4.0 million, while the net loss widened to $1.9 million, from $1.5 million in Q2 FY23. The company attributes this growth to increased activity in Illinois, Canada, and Brazil. However, higher device repair costs and a $0.5 million accrued liability from an ongoing contract dispute impacted the operating loss, which increased to $1.0 million from $0.9 million in Q2 FY23. Adjusted EBITDA rose to $0.8 million from $0.5 million in the same period last year. The cash balance declined 10% to $3.6 million, primarily due to negative currency exchange impacts and decreased net cash from operating activities.
Track Group, Inc. (OTCQX: TRCK) reported its Q1 FY23 financial results, showing total revenue of $8.9M, an 8% decline from $9.6M in Q1 FY22. The operating loss was ($0.1M), a drop from $0.6M operating income in the previous year. Gross profit also decreased by 13%, amounting to $4.2M. However, the company achieved net income of just over $0.0M, compared to a net loss of ($0.3M) in Q1 FY22. Despite ongoing challenges with 3G network phase-out and supply chain issues, Track Group anticipates growth in FY23, projecting revenue between $38M and $41M.
Track Group, Inc. (OTCQX: TRCK) reported its FY22 financial results, revealing a total revenue of $37.0M, down 7% from FY21's $39.7M. The company incurred an operating loss of $2.1M compared to an operating income of $4.7M in FY21. Additionally, the net loss attributable to shareholders was $7.4M compared to a net income of $3.4M in FY21. Despite these challenges due to supply chain issues and the phase-out of 3G networks, Track Group is optimistic about FY23, projecting revenues of $38-41M and an improved adjusted EBITDA margin of 19-21%.
