Track Group Inc - TRCK STOCK NEWS

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. (TRCK) reported financial results for Q1 FY24, including a 1% increase in total revenue to $9.0M, a 1% increase in gross profit to $4.2M, and an operating loss of ($0.2M). The company saw a 4% increase in revenue compared to the previous quarter, driven by increased activity in Illinois, Canada, and Brazil. However, the operating loss increased by 30% due to higher operating expenses, leading to a decline in net income attributable to shareholders.

Track Group, Inc. (TRCK) announced financial results for its fiscal year ended September 30, 2023, including a total revenue of $34.5M, a decrease of 6.7% from the previous year, and a net loss attributable to common shareholders of ($3.4M) in FY23.

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%.