Track Group Q2 FY24 revenue $9.0M (+8% YoY); net loss widens to $1.9M; guides FY24 rev $37-38M

Track Group, Inc.

2024-Q2 EPS reported $0.17 revenue$17,958,193

Revenue $9.0M, up 8% YoY from $8.3M; gross profit $4.0M, up 6%.
Net loss attributable to common shareholders $1.9M vs $1.5M YoY; includes $0.5M contract dispute accrual.
Adjusted EBITDA $0.8M vs $0.5M YoY; cash $3.6M, down 10% from Sept 2023.
FY2024 guidance: revenue $37-38M (FY2023 $34.5M), Adj. EBITDA margin 11-15%.
Growth driven by Illinois, Canada, Brazil; partially offset by Michigan, Chile declines.

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 the fiscal quarter ended March 31, 2024 results: revenue $9.0 Million. Guidance reaffirmed.

Period: the fiscal quarter ended March 31, 2024
Revenue: $9.0 Million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

the Company posted (i) total revenue of $9.0 Million ("M"), an increase of approximately 8% over total revenue of $8.3M for the quarter ended March 31, 2023 ("Q2 FY23"); (ii) Q2 FY24 gross profit of $4.0M also representing an increase of approximately 6% over Q2 FY23 of $3.7M; (iii) Q2 FY24 operating loss of ($1.0M) compared to Q2 FY23 operating loss of ($0.9M); and (iv) net loss attributable to common shareholders of ($1.9M) in Q2 FY24 compared to ($1.5M) in Q2 FY23.

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Source: SEC EDGAR

accession 0001437749-24-016141

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