TRACK GROUP INC - TRCK STOCK NEWS

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%.

Track Group, Inc. (OTCQX: TRCK) reported a Q3 FY22 revenue of $9.0 million, down from $10.3 million in Q3 FY21. The company faced an operating loss of $0.53 million compared to $1.3 million in profit a year earlier, and a net loss of $3.6 million compared to a $1.2 million net income in Q3 FY21. Despite supply chain challenges, CEO Derek Cassell expressed optimism about future strategies to enhance device manufacturing and customer service in FY23. Cash reserves decreased to $4.9 million from $8.4 million since September 2021.