ReposiTrak Delivers 16% Quarterly Revenue Growth and 27% Increase in Net Income; Third Fiscal Quarter EPS of $0.10
Growth Across All Business Lines Drives Double-Digit Increase in Revenue
Third Fiscal Quarter Financial Highlights:
-
Third quarter total revenue increased 16% to
$5.9 million from$5.1 million . - 98% of the revenue in the quarter was recurring.
-
Quarterly operating expense increased 7% to
$4.1 million from$3.8 million . -
Quarterly operating income increased 43% to
$1.8 million from$1.3 million last year. -
Quarterly GAAP net income increased 27% to
$2.0 million from$1.6 million last year. -
Quarterly net income to common shareholders increased 33% to
$1.9 million from$1.4 million last year. -
Quarterly diluted EPS of
$0.10 compared to$0.08 in the prior year third fiscal quarter. -
The Company finished the quarter with over
$28.1 million in cash and no bank debt. -
During the quarter, the Company redeemed 70,093 preferred shares for the stated redemption price of
$10.70 per share for a total of$749,995 and paid$331,000 in cash dividends to common shareholders.
“Simultaneously, we continue to enhance our automation to effectively, efficiently, and accurately onboard these customers,” continued
“The network effect is accelerating,” concluded
Third Fiscal Quarter Financial Results (three months ended
Total revenue was up 16.3% to
Year-to-Date Financial Results (ninemonths ended
Total revenue was up 10.3% to
Return of Capital:
In the third quarter of fiscal 2025, the Company redeemed 70,093 preferred shares at the stated redemption price of
On
Balance Sheet:
The Company had
Conference Call:
The Company will host a conference call at
Participant Dial-In Numbers:
Date:
Time:
Toll-Free: 1-877-407-9716
Toll/International 1-201-493-6779
Conference ID: 13753662
Replay Dial-In Numbers:
Toll Free: 1-844-512-2921
Toll/International: 1-412-317-6671
Conference ID: 13753662
Replay Start:
Replay Expiry:
About ReposiTrak:
ReposiTrak (NYSE: TRAK) provides retailers, suppliers, food manufacturers and wholesalers with a robust solution suite to help reduce risk and remain in compliance with regulatory requirements, enhance operational controls and increase sales with unrivaled brand protection. Consisting of three product families – food traceability, compliance and risk management and supply chain solutions – ReposiTrak’s integrated, cloud-based applications are supported by an unparalleled team of experts. For more information, please visit https://repositrak.com
Forward-Looking Statement
Any statements contained in this document that are not historical facts are forward-looking statements as defined in the
Consolidated Condensed Balance Sheets (Unaudited) |
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2025 |
|
2024 |
||||
Assets |
|
|
|
|
|
||
Current Assets |
|
|
|
|
|
||
Cash |
$ |
28,134,321 |
|
|
$ |
25,153,862 |
|
Receivables, net of allowance for doubtful accounts of |
|
3,600,712 |
|
|
|
3,678,627 |
|
Contract asset – unbilled current portion |
|
605,717 |
|
|
|
181,680 |
|
Prepaid expense and other current assets |
|
411,625 |
|
|
|
285,998 |
|
Total Current Assets |
|
32,752,375 |
|
|
|
29,300,167 |
|
|
|
|
|
|
|
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Property and equipment, net |
|
746,246 |
|
|
|
513,277 |
|
|
|
|
|
|
|
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Other Assets: |
|
|
|
|
|
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Deposits and other assets |
|
22,414 |
|
|
|
22,414 |
|
Prepaid expense – less current portion |
|
1,435 |
|
|
|
2,609 |
|
Contract asset – unbilled long-term portion |
|
- |
|
|
|
108,052 |
|
Operating lease – right-of-use asset |
|
202,920 |
|
|
|
250,306 |
|
Customer relationships |
|
32,850 |
|
|
|
131,400 |
|
|
|
20,883,886 |
|
|
|
20,883,886 |
|
Capitalized software costs, net |
|
192,310 |
|
|
|
384,621 |
|
Total Other Assets |
|
21,335,815 |
|
|
|
21,783,288 |
|
|
|
|
|
|
|
||
Total Assets |
$ |
54,834,436 |
|
|
$ |
51,596,732 |
|
|
|
|
|
|
|
||
Liabilities and Shareholders’ Equity |
|
|
|
|
|
||
Current liabilities |
|
|
|
|
|
||
Accounts payable |
$ |
286,832 |
|
|
$ |
265,086 |
|
Accrued liabilities |
|
1,173,033 |
|
|
|
1,554,775 |
|
Contract liability – deferred revenue |
|
3,675,880 |
|
|
|
2,441,234 |
|
Operating lease liability – current |
|
68,244 |
|
|
|
64,076 |
|
Notes payable and financing leases – current |
|
230,187 |
|
|
|
217,971 |
|
Total current liabilities |
|
5,434,176 |
|
|
|
4,543,142 |
|
|
|
|
|
|
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Long-term liabilities |
|
|
|
|
|
||
Operating lease liability – less current portion |
|
147,432 |
|
|
|
198,972 |
|
Notes payable and financing leases – less current portion |
|
331,762 |
|
|
|
- |
|
Total liabilities |
|
5,913,370 |
|
|
|
4,742,114 |
|
|
|
|
|
|
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Commitments and contingencies |
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Stockholders’ equity: |
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Preferred Stock; |
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|
|
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Series B Preferred, 700,000 shares authorized; 406,191 and 616,470 shares issued and outstanding at |
|
4,062 |
|
|
|
6,165 |
|
Common Stock, |
|
182,766 |
|
|
|
182,351 |
|
Additional paid-in capital |
|
62,927,551 |
|
|
|
64,655,902 |
|
Accumulated other comprehensive loss |
|
(12,280 |
) |
|
|
(27,390 |
) |
Accumulated deficit |
|
(14,181,033 |
) |
|
|
(17,962,410 |
) |
Total stockholders’ equity |
|
48,921,066 |
|
|
|
46,854,618 |
|
Total liabilities and stockholders’ equity |
$ |
54,834,436 |
|
|
$ |
51,596,732 |
|
Consolidated Condensed Statements of Operations and Comprehensive Income (Unaudited) |
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Three Months Ended |
|
Nine Months Ended |
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2025 |
|
2024 |
|
2025 |
|
2024 |
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Revenue |
$ |
5,913,732 |
|
|
$ |
5,084,866 |
|
|
$ |
16,845,782 |
|
|
$ |
15,270,729 |
|
|
|
|
|
|
|
|
|
|
|
|
|
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Operating expense: |
|
|
|
|
|
|
|
|
|
|
|
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Cost of revenue and product support |
|
911,693 |
|
|
|
831,912 |
|
|
|
2,773,468 |
|
|
|
2,571,533 |
|
Sales and marketing |
|
1,408,861 |
|
|
|
1,349,838 |
|
|
|
4,392,997 |
|
|
|
4,119,716 |
|
General and administrative |
|
1,455,602 |
|
|
|
1,352,197 |
|
|
|
4,124,706 |
|
|
|
3,978,798 |
|
Depreciation and amortization |
|
328,723 |
|
|
|
288,576 |
|
|
|
913,646 |
|
|
|
897,479 |
|
Total operating expense |
|
4,104,879 |
|
|
|
3,822,523 |
|
|
|
12,204,817 |
|
|
|
11,567,526 |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Income from operations |
|
1,808,853 |
|
|
|
1,262,343 |
|
|
|
4,640,965 |
|
|
|
3,703,203 |
|
|
|
|
|
|
|
|
|
|
|
|
|
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Other income (expense): |
|
|
|
|
|
|
|
|
|
|
|
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Interest income |
|
326,388 |
|
|
|
350,691 |
|
|
|
1,030,554 |
|
|
|
925,297 |
|
Interest expense |
|
(12,817 |
) |
|
|
(8,036 |
) |
|
|
(35,022 |
) |
|
|
(21,956 |
) |
Unrealized gain (loss) on short term investments |
|
(6,705 |
) |
|
|
5,429 |
|
|
|
(2,438 |
) |
|
|
48,071 |
|
Income before income taxes |
|
2,115,719 |
|
|
|
1,610,427 |
|
|
|
5,634,059 |
|
|
|
4,654,615 |
|
|
|
|
|
|
|
|
|
|
|
|
|
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(Provision) for income taxes: |
|
(149,931 |
) |
|
|
(60,000 |
) |
|
|
(452,036 |
) |
|
|
(274,491 |
) |
Net income |
|
1,965,788 |
|
|
|
1,550,427 |
|
|
|
5,182,023 |
|
|
|
4,380,124 |
|
|
|
|
|
|
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Dividends on preferred stock |
|
(85,725 |
) |
|
|
(134,345 |
) |
|
|
(289,223 |
) |
|
|
(427,567 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
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Net income applicable to common shareholders |
$ |
1,880,063 |
|
|
$ |
1,416,082 |
|
|
$ |
4,892,800 |
|
|
$ |
3,952,557 |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Weighted average shares, basic |
|
18,254,000 |
|
|
|
18,194,000 |
|
|
|
18,249,000 |
|
|
|
18,194,000 |
|
Weighted average shares, diluted |
|
19,143,000 |
|
|
|
18,954,000 |
|
|
|
19,122,000 |
|
|
|
18,874,000 |
|
Basic income per share |
$ |
0.10 |
|
|
$ |
0.08 |
|
|
$ |
0.27 |
|
|
$ |
0.22 |
|
Diluted income per share |
$ |
0.10 |
|
|
$ |
0.08 |
|
|
$ |
0.26 |
|
|
$ |
0.21 |
|
Comprehensive income: |
|
|
|
|
|
|
|
|
|
|
|
||||
Net income |
$ |
1,965,788 |
|
|
$ |
1,550,427 |
|
|
$ |
5,182,023 |
|
|
$ |
4,380,124 |
|
Other comprehensive gain: |
|
|
|
|
|
|
|
|
|
|
|
||||
Unrealized gain (loss) on available-for-sale securities |
|
(3,759 |
) |
|
|
(25,102 |
) |
|
|
15,110 |
|
|
|
(31,006 |
) |
Total comprehensive income |
$ |
1,962,029 |
|
|
$ |
1,525,325 |
|
|
$ |
5,197,133 |
|
|
$ |
4,349,118 |
|
Consolidated Condensed Statements of Cash Flows (Unaudited) |
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|
Nine Months Ended |
||||||
|
|
||||||
|
2025 |
|
2024 |
||||
Cash flows from operating activities: |
|
|
|
|
|
||
Net income |
$ |
5,182,023 |
|
|
$ |
4,380,124 |
|
Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
|
|
|
||
Depreciation and amortization |
|
913,646 |
|
|
|
897,479 |
|
Amortization of operating right of use asset |
|
47,386 |
|
|
|
45,070 |
|
Stock compensation expense |
|
302,251 |
|
|
|
260,853 |
|
Bad debt expense |
|
450,000 |
|
|
|
225,000 |
|
(Increase) decrease in: |
|
|
|
|
|
||
Accounts receivables |
|
(796,122 |
) |
|
|
(1,439,014 |
) |
Long-term receivables, prepaids and other assets |
|
(208,916 |
) |
|
|
751 |
|
Increase (decrease) in: |
|
|
|
|
|
||
Accounts payable |
|
21,746 |
|
|
|
79,025 |
|
Operating lease liability |
|
(47,372 |
) |
|
|
(43,417 |
) |
Accrued liabilities |
|
(335,917 |
) |
|
|
(58,391 |
) |
Deferred revenue |
|
1,234,646 |
|
|
|
563,261 |
|
Net cash provided by operating activities |
|
6,763,371 |
|
|
|
4,910,741 |
|
|
|
|
|
|
|
||
Cash flows from investing activities: |
|
|
|
|
|
||
Purchase of property and equipment |
|
(8,795 |
) |
|
|
(17,532 |
) |
Sale (purchase) of marketable securities |
|
15,110 |
|
|
|
(31,006 |
) |
Net cash provided by (used in) investing activities |
|
6,315 |
|
|
|
(48,538 |
) |
|
|
|
|
|
|
||
Cash flows from financing activities: |
|
|
|
|
|
||
Common Stock buyback/retirement |
|
(100,016 |
) |
|
|
(1,515,574 |
) |
Redemption of Series B Preferred |
|
(2,249,975 |
) |
|
|
- |
|
Redemption of Series B-1 Preferred |
|
- |
|
|
|
(1,499,990 |
) |
Proceeds from exercise of warrants |
|
79,120 |
|
|
|
- |
|
Proceeds from employee stock plan |
|
134,345 |
|
|
|
111,839 |
|
Dividends paid |
|
(1,342,235 |
) |
|
|
(1,286,657 |
) |
Payments on notes payable and capital leases |
|
(310,466 |
) |
|
|
(210,020 |
) |
Net cash used in financing activities |
|
(3,789,227 |
) |
|
|
(4,400,402 |
) |
|
|
|
|
|
|
||
Net increase (decrease) in cash and cash equivalents |
|
2,980,459 |
|
|
|
461,801 |
|
|
|
|
|
|
|
||
Cash and cash equivalents at beginning of period |
|
25,153,862 |
|
|
|
23,990,879 |
|
Cash and cash equivalents at end of period |
$ |
28,134,321 |
|
|
$ |
24,452,680 |
|
|
|
|
|
|
|
||
Supplemental disclosure of cash flow information: |
|
|
|
|
|
||
Cash paid for income taxes |
$ |
375,119 |
|
|
$ |
317,944 |
|
Cash paid for interest |
$ |
7,769 |
|
|
$ |
11,711 |
|
Cash paid for operating leases |
$ |
56,244 |
|
|
$ |
54,606 |
|
|
|
|
|
|
|
||
Supplemental disclosure of non-cash investing and financing activities: |
|
|
|
|
|
||
Common stock to pay accrued liabilities |
$ |
259,302 |
|
|
$ |
445,980 |
|
Dividends accrued on preferred stock |
$ |
289,223 |
|
|
$ |
427,567 |
|
Right-of-use asset |
$ |
654,444 |
|
|
$ |
- |
|
View source version on businesswire.com: https://www.businesswire.com/news/home/20250515343977/en/
Investor Relations Contact:
Investor-relations@repositrak.com
Or
FNK IR
646.809.4048
rob@fnkir.com
Source: