Track Group, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended March 31, 2023
May 11, 2023 at 12:10 pm EDT
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Track Group, Inc. reported earnings results for the second quarter and six months ended March 31, 2023. For the second quarter, the company reported revenue was USD 8.31 million compared to USD 9.48 million a year ago. Net loss was USD 1.49 million compared to net income of USD 0.452241 million a year ago. Basic loss per share from continuing operations was USD 0.13 compared to basic earnings per share from continuing operations of USD 0.04 a year ago. Diluted loss per share from continuing operations was USD 0.13 compared to diluted earnings per share from continuing operations of USD 0.04 a year ago.
For the six months, revenue was USD 17.16 million compared to USD 19.08 million a year ago. Net loss was USD 1.45 million compared to net income of USD 0.146919 million a year ago. Basic loss per share from continuing operations was USD 0.12 compared to basic earnings per share from continuing operations of USD 0.01 a year ago. Diluted loss per share from continuing operations was USD 0.12 compared to diluted earnings per share from continuing operations of USD 0.01 a year ago.
Track Group, Inc. designs, manufactures, and markets location tracking devices. The Company develops and sells a range of related software, services, accessories, networking solutions, and monitoring applications. Its products and services include a full-range of one-piece global positioning system (GPS) tracking devices; a device-agnostic operating system, and a portfolio of software applications, including smartphone, alcohol and predictive analytics, and a variety of accessory, service and support offerings. Its products and services are sold through its direct sales force, as well as through value-added resellers. It sells to government customers on the federal, state and local levels in the United States and to members of the Ministry of Justice internationally. The Company's device-agnostic platform and portfolio of integrated and complimentary monitoring-related services help reduce risk and make the administration of justice faster and less expensive for taxpayers.
TRACK GROUP, INC. 
