Track Group Q2 FY2023 revenue down 12% to $8.3M; posts net loss of $1.5M

Track Group, Inc.

2023-Q2 EPS reported -$0.12 revenue$17,163,737

Total revenue of $8.3M in Q2 FY23, down 12% from $9.5M in Q2 FY22; operating loss of $0.9M vs breakeven last year.
Net loss attributable to common shareholders of $1.5M vs net income of $0.5M in prior-year quarter.
Adjusted EBITDA fell to $0.5M from $1.7M; six-month adjusted EBITDA margin dropped to 10.1% from 20.6%.
FY2023 outlook revised to $35-36M revenue and 17-19% adjusted EBITDA margin, down from prior expectations.
Negotiated amended debt facility extending maturity to July 2027 with largest debtholder; awarded eight new contracts in Q2 including $1.6M annual state program.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Track Group, Inc. reported the fiscal quarter ended March 31, 2023 results: revenue $8.3 Million, net income ($1.5M). Guidance lowered.

Period: the fiscal quarter ended March 31, 2023
Revenue: $8.3 Million
Net income: ($1.5M)
Guidance: lowered
Result: reported results

Exact text from the filing

today announced financial results for its fiscal quarter ended March 31, 2023 (“Q2 FY23”). In Q2 FY23, the Company posted (i) total revenue of $8.3 Million (“M”), a decrease of approximately 12% over total revenue of $9.5M for the quarter ended March 31, 2022 (“Q2 FY22”); (ii) Q2 FY23 operating loss of ($0.9M) compared to Q2 FY22 operating income of $0.0M; and (iii) net loss attributable to common shareholders of ($1.5M) in Q2 FY23 compared to a net income attributable to common shareholders of $0.5M in Q2 FY22.

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Source: SEC EDGAR

accession 0001437749-23-013806

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