---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-23-013806"
form_type: "8-K"
ticker: "TRCK"
cik: "0001045942"
company_name: "Track Group, Inc."
filed_at: "2023-05-11T23:59:59+00:00"
generated_at: "2026-06-15T03:24:15.404958+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001437749-23-013806
- form_type: 8-K
- ticker: TRCK
- cik: 0001045942
- company_name: Track Group, Inc.
- filed_at: 2023-05-11T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1045942/000143774923013806/0001437749-23-013806-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1045942/000143774923013806/trkg20230503_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-013806
- JSON: https://secwatch.observer/filing/0001437749-23-013806.json
- Plain text: https://secwatch.observer/filing/0001437749-23-013806.txt

## Key facts
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1045942/000143774923013806/0001437749-23-013806-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.