TRKA - TRKA STOCK NEWS

Troika Media Group, Inc. (Nasdaq: TRKA) received a determination letter from Nasdaq, stating that its securities will be suspended from trading and delisted from Nasdaq on December 18, 2023. This decision was based on concerns related to TMG's Chapter 11 bankruptcy filing, residual equity interest of existing securities holders, and failure to file its Form 10-Q for the period ended September 30, 2023. TMG does not intend to appeal the determination.

Troika Media Group, Inc. (TRKA) has entered into a restructuring support agreement with Blue Torch Finance LLC, its senior secured lenders, to be acquired by Blue Torch via a stalking horse credit bid, following voluntary chapter 11 bankruptcy petitions. The Company anticipates emerging as a private company with a stronger balance sheet.

Troika Media Group, Inc. (TRKA) received a delinquency notification letter from Nasdaq for not timely filing its Quarterly Report on Form 10-Q for the quarter ended September 30, 2023. Nasdaq has given the company 60 days to submit a plan of compliance to regain compliance with listing rules.

Troika Media Group, Inc. announces financial results for Q2 2023

Troika Media Group, Inc. (Nasdaq: TRKA) will undergo a 1-for-25 reverse stock split to increase the per share trading price and meet NASDAQ's minimum bid price requirement. The split will be effective on June 1, 2023, and will also reduce the number of authorized common stock shares.

Troika Media Group, Inc. (Nasdaq: TRKA) announced its financial results for Q1 2023. Highlights include a revenue of $59.0 million, a 276% increase compared to the same period last year. Gross profit reached $8.8 million, and adjusted EBITDA was approximately $1.5 million. The company experienced strong revenue growth in Performance Solutions within Home Services and Professional Services sectors.

Troika Media Group, Inc. (Nasdaq: TRKA) announced the filing of a shelf registration statement on Form S-3 with the SEC on April 7, 2023. This filing aligns with the company's ongoing process to optimize its balance sheet and address legacy capital structure issues, including senior secured debt. The registration is intended to provide the company with strategic alternatives during this optimization process. However, securities cannot be sold under this registration until it becomes effective, and there's no guarantee regarding the timing of this event. Historically, the company has focused on creating consumer engagement and performance-driven revenue growth through technology.

Troika Media Group (Nasdaq: TRKA) reported a significant revenue surge for its six-month transition period ending December 31, 2022, reaching approximately $187.9 million, a remarkable 1125% increase compared to the prior year. The growth was primarily driven by the Converge acquisition, contributing about $180.3 million in revenue. Adjusted EBITDA improved to approximately $5.0 million, showing a positive shift in financial performance. However, net loss increased to $9.6 million, up 53% year-over-year. Increased operational costs, particularly in employee-related expenses, were noted, reflecting the integration of the acquired workforce. Management expressed optimism about future growth opportunities.