On Track Innovations Ltd. revised revenue guidance for the first quarter ended March 31, 2022. For the first quarter of 2022, based on the preliminary analysis, the company estimates it had revenues of approximately $2,800,000. This amount is materially lower than the Company's initial internal forecast of more than $4,100,000.

The lower than expected revenues were due to, among other things, the global shortage of components, leading to longer lead times, which affects the Company's ability to supply orders made by customers.