Track Group, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended June 30, 2023
August 10, 2023 at 09:00 am EDT
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Track Group, Inc. reported earnings results for the third quarter and nine months ended June 30, 2023. For the third quarter, the company reported revenue was USD 8.7 million compared to USD 8.97 million a year ago. Net loss was USD 0.697184 million compared to USD 3.61 million a year ago. Basic loss per share from continuing operations was USD 0.06 compared to USD 0.31 a year ago. Diluted loss per share from continuing operations was USD 0.06 compared to USD 0.31 a year ago.
For the nine months, revenue was USD 25.86 million compared to USD 28.05 million a year ago. Net loss was USD 2.15 million compared to USD 3.46 million a year ago. Basic loss per share from continuing operations was USD 0.18 compared to USD 0.3 a year ago. Diluted loss per share from continuing operations was USD 0.18 compared to USD 0.3 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.