Track Group Q3 FY23 revenue $8.7M, net loss narrows to $0.7M; FY23 guidance lowered

Track Group, Inc.

2023-Q3 EPS reported -$0.18 revenue$25,861,315

Revenue $8.7M, down 3% YoY from $9.0M; operating loss improved to ($0.3M) from ($0.5M).
Net loss attributable to common shareholders ($0.7M) vs ($3.6M) in Q3 FY22, helped by litigation settlement and forex.
Adjusted EBITDA $1.1M (Q3) vs $1.3M prior year; 9M FY23 margin 10.9% vs 18.8%.
New statewide pretrial contract awarded: $1.6M annual revenue, $15M over 5 years; mobilization underway.
FY23 outlook revised: revenue $34-36M, adjusted EBITDA margin 12-14%.

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 0.95

Track Group, Inc. reported its fiscal quarter ended June 30, 2023 ("Q3 FY23") results: revenue $8.7 Million, net income net loss attributable to common shareholders of ($0.7M). Guidance reaffirmed.

Period: its fiscal quarter ended June 30, 2023 ("Q3 FY23")
Revenue: $8.7 Million
Net income: net loss attributable to common shareholders of ($0.7M)
Guidance: reaffirmed
Result: reported results

Exact text from the filing

tracking and monitoring services, today announced financial results for its fiscal quarter ended June 30, 2023 (“Q3 FY23”). In Q3 FY23, the Company posted (i) total revenue of $8.7 Million (“M”), a decrease of approximately 3% over total revenue of $9.0M for the quarter ended June 30, 2022 (“Q3 FY22”); (ii) Q3 FY23 operating loss of ($0.3M) compared to Q3 FY22

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Source: SEC EDGAR

accession 0001437749-23-022897

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