Track Group, Inc. (TRCK)
Track Group, Inc., along with its subsidiaries, specializes in the development, production, and global distribution of advanced location tracking devices. Its diverse product portfolio encompasses hardware solutions like the ReliAlert XC4, a GPS monitoring device, and the ReliAlert XC3, which not only tracks offender movements but also facilitates real-time two/three-way voice communication directly with individuals. Another key device is Shadow, an offender tracking unit compliant with 3G technology. Beyond hardware, the company delivers a suite of software and services. These include IntelliTrack, a secure, cutting-edge, device-agnostic platform, complemented by IntelliTrack Mobile, its dedicated mobile application for Android and iOS. Similarly, it offers TrackerPAL, a cloud-based monitoring system, along with its mobile counterpart, TrackerPAL Mobile, also for Android and iOS. For remote alcohol supervision, it provides BACtrack, a smartphone-integrated system. Additionally, data analytics services are part of its offerings. Further extending its solutions, Track Group offers the Empower smartphone application, designed to support victims and survivors of domestic abuse by establishing mobile geo-zones and enabling communication with an offender's tracking device. Another specialized tool is InTouch, a smartphone application for monitoring and supervision within the criminal justice system. The company also supplies physical accessories such as SecureCuff steel bands and the RF Beacon, a compact, short-range transmitting station that emits a radio frequency signal to communicate with assigned GPS tracking devices. Comprehensive product support services are also available. Its broader scope of offerings also includes various related software, services, accessories, networking solutions, and monitoring applications. Track Group's products and services are distributed across the United States, Latin America, and other international markets. Established in 1995 and headquartered in Naperville, Illinois, the company operated under the name SecureAlert, Inc. until its rebranding as Track Group, Inc. in May 2015.
Sector: Communications Equipment, NEC
Industry: Hardware, Equipment & Parts
Track Group, Inc.
OTC:TRCKTechnology · Hardware, Equipment & Parts
Mkt Cap$19.01M
Float20.05M
O/S41.34M
Inst Own-
SI<0.1%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$35.22M
Net Income-$1.88M
Total Assets$40.3M
Free Cash Flow$1.38M
Debt & Equity
Debt 136%
Total Debt$43.45M
Total Equity-$11.54M
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in TRCK's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$40.3M
Liabilities$51.85M
Accounts Receivable$6.46M
Accounts Payable$3.71M
Inventory$473K
PP&E (Net)$498K
Goodwill$8.3M
Intangible Assets$13.96M
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 | FY 2010 | FY 2009 | FY 2008 | FY 2007 | FY 2006 | FY 2005 | FY 2004 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-09-30 | 2024-09-30 | 2023-09-30 | 2022-09-30 | 2021-09-30 | 2020-09-30 | 2019-09-30 | 2018-09-30 | 2017-09-30 | 2016-09-30 | 2015-09-30 | 2014-09-30 | 2013-09-30 | 2012-09-30 | 2011-09-30 | 2010-09-30 | 2009-09-30 | 2008-09-30 | 2007-09-30 | 2006-09-30 | 2005-09-30 | 2004-09-30 |
| Revenue | $35.22M | $36.89M | $34.48M | $36.97M | $39.66M | $33.88M | $34.02M | $30.57M | $29.73M | $27.19M | $20.79M | $12.26M | $15.64M | $19.79M | $17.96M | $12.45M | $12.63M | $12.4M | $8.57M | $1.07M | $862K | $1.12M |
| YoY Growth | -4.5% | 7.0% | -6.7% | -6.8% | 17.1% | -0.4% | 11.3% | 2.8% | 9.3% | 30.8% | 69.6% | -21.6% | -21.0% | 10.2% | 44.3% | -1.4% | 1.8% | 44.7% | 700.9% | 24.2% | -22.9% | - |
| Cost of Revenue | $18.42M | $20.29M | $19.18M | $19.62M | $18.55M | $15.23M | $15M | $13.37M | $14.13M | $10.53M | $8.28M | $5.5M | $8.03M | $13.07M | $10.03M | $7.57M | $12.46M | $13.11M | $8.97M | $940K | $824K | $1.13M |
| Gross Profit | $16.8M | $16.6M | $15.3M | $17.35M | $21.11M | $18.65M | $19.02M | $17.2M | $15.6M | $16.66M | $12.51M | $6.76M | $7.61M | $6.72M | $7.93M | $4.88M | $168K | -$705K | -$404K | $130K | $38K | -$17K |
| Gross Margin | 47.7% | 45.0% | 44.4% | 46.9% | 53.2% | 55.0% | 55.9% | 56.3% | 52.5% | 61.3% | 60.2% | 55.2% | 48.7% | 34.0% | 44.2% | 39.2% | 1.3% | -5.7% | -4.7% | 12.1% | 4.4% | -1.5% |
| Research and Development | $2.8M | $2.75M | $2.74M | $2.43M | $1.55M | $1.18M | $1.31M | $862K | $1.78M | $2.63M | $1.56M | $1.61M | $988K | $1.25M | $1.45M | $1.48M | $1.78M | $4.81M | $4.71M | $2.09M | $1.77M | $205K |
| Selling, General, and Administrative | $12.48M | $14.64M | $13.12M | $15.46M | $12.95M | $12.64M | $14.5M | $15.88M | $14.53M | $16.98M | $16.24M | $11.32M | $8.04M | $15.81M | $15.93M | $13.28M | $16.54M | $36.47M | $20.22M | $16.03M | $7.23M | $4.19M |
| Other | $910K | $4.43M | $987K | $1.56M | $1.9M | $2.06M | $2.05M | $24K | $2.33M | $2.71M | $2.93M | $0 | $0 | $0 | $0 | $205K | $2.8M | $0 | $1.76M | $0 | $0 | $1.35M |
| Total Operating Expenses | $15.28M | $21.82M | $16.84M | $19.45M | $16.39M | $15.89M | $17.86M | $18.86M | $18.64M | $22.32M | $20.74M | $14.51M | $9.03M | $17.06M | $17.38M | $14.96M | $21.12M | $41.28M | $26.68M | $18.11M | $9M | $5.75M |
| Operating Income (EBIT) | $1.52M | -$1.88M | -$1.54M | -$2.9M | $4.71M | $2.76M | $1.17M | -$1.65M | -$4.87M | -$5.66M | -$8.23M | -$7.75M | -$1.42M | -$15.85M | -$9.45M | -$10.08M | -$20.96M | -$41.98M | -$27.09M | -$17.98M | -$8.96M | -$5.76M |
| Operating Margin | 4.3% | -5.1% | -4.5% | -7.8% | 11.9% | 8.1% | 3.4% | -5.4% | -16.4% | -20.8% | -39.6% | -63.2% | -9.1% | -80.1% | -52.6% | -81.0% | -166.0% | -338.5% | -316.1% | -1680.4% | -1039.5% | -515.7% |
| Interest Expense | $2.34M | $2.02M | $1.96M | $1.99M | $2.19M | $2.5M | $2.4M | $3M | $2.82M | $2.83M | $2.69M | $1.29M | $17.05M | $1.49M | $713K | $4.15M | $5.01M | $0 | $0 | $0 | $0 | $0 |
| Interest Income | $3K | $126K | $273K | $163K | $22K | $40K | $24K | $243K | $20K | $114K | $149K | $368K | $0 | $11K | $13K | $23K | $18K | $0 | $0 | $0 | $0 | $0 |
| Other Income (Expense) | -$3.3M | -$1.79M | -$1.22M | -$4.41M | -$554K | -$2.08M | -$2.85M | -$3.18M | $648K | -$2.84M | $2.58M | -$944K | -$16.92M | -$9.4M | $292K | -$3.84M | -$1.97M | -$7.17M | $755K | -$5.81M | -$2.02M | -$743K |
| Income Before Tax (EBT) | -$1.78M | -$3.67M | -$2.76M | -$6.51M | $4.16M | $675K | -$1.68M | -$4.84M | -$4.22M | -$8.5M | -$5.65M | -$8.69M | -$18.33M | -$17.46M | -$9.16M | -$15.35M | -$23.24M | -$49.98M | -$26.02M | -$23.8M | -$10.98M | -$6.51M |
| Income Tax Expense | $104K | -$589K | $628K | $883K | $717K | $793K | $884K | $593K | $502K | $0 | $20K | $56K | $0 | $1.49M | $439K | $3.7M | $2.13M | $7.6M | -$1.07M | $0 | $0 | $0 |
| Net Income | -$1.88M | -$3.08M | -$3.39M | -$7.39M | $3.44M | -$119K | -$2.56M | -$5.43M | -$4.73M | -$8.5M | -$5.67M | -$8.75M | -$17.92M | -$17.46M | -$9.89M | -$13.78M | -$23.08M | -$49.59M | -$26.02M | -$23.8M | -$10.98M | -$6.41M |
| Net Income Margin | -5.3% | -8.4% | -9.8% | -20.0% | 8.7% | -0.4% | -7.5% | -17.8% | -15.9% | -31.2% | -27.3% | -71.3% | -114.5% | -88.2% | -55.1% | -110.7% | -182.8% | -399.8% | -303.6% | -2223.8% | -1274.4% | -573.3% |
| Supplementary Data | ||||||||||||||||||||||
| EPS | -0.16 | -0.26 | -0.29 | -0.64 | 0.30 | -0.01 | -0.23 | -0.51 | -0.45 | -0.83 | -0.56 | -0.88 | -3.71 | -6.38 | -5.20 | -12.13 | -25.34 | -70.79 | -50.62 | -85.23 | -64.01 | -45.41 |
| Diluted EPS | -0.16 | -0.26 | -0.29 | -0.64 | 0.29 | -0.01 | -0.23 | -0.51 | -0.45 | -0.83 | -0.56 | -0.88 | -3.71 | -6.38 | -5.20 | -12.13 | -25.34 | -70.79 | -50.62 | -85.23 | -64.01 | -45.41 |
| Weighted Average OS | 11.86M | 11.86M | 11.86M | 11.63M | 11.45M | 11.41M | 11.21M | 10.73M | 10.41M | 10.29M | 10.16M | 9.95M | 4.83M | 2.74M | 1.90M | 1.14M | 910,940 | 700,460 | 514,130 | 279,230 | 171,590 | 141,085 |
| EBITDA | $4.43M | $2.88M | $4.02M | $780K | $10.65M | $7.17M | $4.78M | $2.15M | $3.06M | -$947K | $1.44M | -$4.94M | $1.13M | -$13.89M | -$7.35M | -$8.34M | -$18.87M | -$42M | -$24.87M | -$7.89M | -$7.75M | -$4.82M |
| EBITDA Margin | 12.6% | 7.8% | 11.7% | 2.1% | 26.9% | 21.2% | 14.1% | 7.0% | 10.3% | -3.5% | 6.9% | -40.3% | 7.2% | -70.2% | -40.9% | -67.0% | -149.4% | -338.6% | -290.2% | -737.5% | -899.3% | -431.3% |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 | FY 2010 | FY 2009 | FY 2008 | FY 2007 | FY 2006 | FY 2005 | FY 2004 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-09-30 | 2024-09-30 | 2023-09-30 | 2022-09-30 | 2021-09-30 | 2020-09-30 | 2019-09-30 | 2018-09-30 | 2017-09-30 | 2016-09-30 | 2015-09-30 | 2014-09-30 | 2013-09-30 | 2012-09-30 | 2011-09-30 | 2010-09-30 | 2009-09-30 | 2008-09-30 | 2007-09-30 | 2006-09-30 | 2005-09-30 | 2004-09-30 |
| Assets | ||||||||||||||||||||||
| Current Assets | ||||||||||||||||||||||
| Cash and Cash Equivalents | $4.1M | $3.57M | $4.06M | $5.31M | $8.42M | $6.76M | $6.9M | $5.45M | $2.03M | $1.77M | $4.9M | $11.1M | $3.38M | $695K | $950K | $1.13M | $602K | $2.78M | $5.56M | $5.87M | $416K | $62K |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $4.1M | $3.57M | $4.06M | $5.31M | $8.42M | $6.76M | $6.9M | $5.45M | $2.03M | $1.77M | $4.9M | $11.1M | $3.38M | $695K | $950K | $1.13M | $602K | $2.78M | $5.56M | $5.87M | $416K | $62K |
| Accounts Receivable | $6.46M | $4.43M | $4.54M | $6.24M | $7.16M | $5.55M | $6.76M | $5.98M | $5.67M | $7.23M | $6.35M | $4.06M | $3.9M | $2.41M | $4.24M | $1.34M | $1.44M | $1.5M | $5M | $245K | $97K | $260K |
| Inventory | $473K | $582K | $1.29M | $1.05M | $305K | $125K | $275K | $277K | $262K | $522K | $742K | $1.25M | $467K | $631K | $580K | $346K | $603K | $225K | $51K | $39K | $47K | $78K |
| Other Current Assets | $353K | $969K | $610K | $284K | $999K | $866K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $990K | $0 | $792K | $0 | $0 | $882K | $22K | $180K | $0 |
| Total Current Assets | $11.38M | $10.19M | $10.49M | $13.65M | $16.89M | $13.3M | $15.27M | $12.97M | $8.82M | $10.34M | $13.26M | $17.64M | $9.53M | $6.33M | $6.85M | $3.6M | $2.92M | $5.01M | $11.03M | $8.66M | $781K | $414K |
| Long-Term Assets | ||||||||||||||||||||||
| Property, Plant & Equipment Net | $498K | $4.92M | $5.71M | $3.79M | $3.27M | $2.44M | $3.3M | $3.91M | $4.4M | $5.58M | $4.48M | $3.77M | $1.55M | $4M | $4.55M | $3.17M | $2.63M | $2.93M | $4.22M | $3.48M | $381K | $114K |
| Goodwill | $8.3M | $7.94M | $7.85M | $8.06M | $8.52M | $8.22M | $8.19M | $8.08M | $8.23M | $7.96M | $7.78M | $6.58M | $0 | $375K | $5.89M | $3.91M | $2.47M | $4.81M | $0 | $0 | $0 | $0 |
| Intangible Assets | $13.96M | $13.96M | $14.16M | $15.66M | $20.43M | $21.17M | $21.96M | $23.25M | $24.72M | $25.54M | $25.88M | $26.74M | $15.41M | $4.87M | $5.19M | $399K | $496K | $217K | $0 | $0 | $0 | $0 |
| Long-Term Investments | $0 | $1.65M | $1.65M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | $101K | $433K | $541K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $6.17M | -$994K | $385K | $3.51M | $4.31M | $2.17M | $124K | $146K | $2.99M | $2.9M | $2.62M | $3.15M | $199K | $10.96M | $204K | $108K | $77K | $47K | $37K | $48K | $35K | $180K |
| Total Long-Term Assets | $28.92M | $27.48M | $29.75M | $31.03M | $36.63M | $34.44M | $34.11M | $35.38M | $40.33M | $41.98M | $40.77M | $40.25M | $17.17M | $20.21M | $15.83M | $7.59M | $5.67M | $8.01M | $4.25M | $3.53M | $416K | $295K |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $40.3M | $37.67M | $40.24M | $44.68M | $53.52M | $47.73M | $49.38M | $48.36M | $49.15M | $52.32M | $54.03M | $57.88M | $26.7M | $26.53M | $22.69M | $11.19M | $8.59M | $13.01M | $15.28M | $12.19M | $1.2M | $709K |
| Liabilities | ||||||||||||||||||||||
| Current Liabilities | ||||||||||||||||||||||
| Accounts Payable | $3.71M | $3.08M | $2.8M | $2.86M | $2.82M | $2.2M | $2.63M | $2.52M | $2.77M | $2.77M | $2.36M | $2M | $348K | $1.83M | $2.84M | $2.06M | $2.34M | $2.06M | $3.03M | $1.7M | $1.36M | $706K |
| Short-Term Debt | $0 | $0 | $308K | $457K | $526K | $30.91M | $33.83M | $30.44M | $30.27M | $3.25M | $796K | $1.91M | $148K | $13.43M | $1.8M | $2.28M | $12.28M | $3.93M | $4.03M | $4.11M | $1.98M | $789K |
| Current Income Tax Payable | $0 | $170K | $261K | $371K | $23K | $324K | $1.07M | $351K | $530K | $312K | $93K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $0 | $0 | $431 | $3K | $23K | $148K | $389K | $151K | $0 | $0 | $0 | $0 | $9K | $422K | $162K | $81K | $57K | $21K | $14K | $18K | $18K | $13K |
| Other Current Liabilities | $3.09M | $895K | $2.1M | $1.08M | $1.86M | $25.34M | $10.69M | $7.89M | $0 | $0 | $162K | -$4K | $1.39M | $2.39M | $0 | $114K | $1.22M | $4.04M | -$1.23M | $21K | $1.96M | $722K |
| Total Current Liabilities | $8.6M | $6.45M | $5.68M | $6.36M | $7.7M | $48.07M | $50.28M | $43.29M | $39.69M | $9.99M | $5.87M | $6.32M | $2.7M | $19.93M | $8.05M | $7M | $19.4M | $11.83M | $8.43M | $6.25M | $6M | $2.68M |
| Long-Term Liabilities | ||||||||||||||||||||||
| Long-Term Debt | $42.72M | $42.64M | $42.8M | $42.98M | $43.45M | $419K | $0 | $3.43M | $3.48M | $30.35M | $30.19M | $28.57M | $41K | $2.18M | $1.02M | $1.06M | $1.57M | $1.15M | $240K | $0 | $422K | $1.5M |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Liabilities | $0 | $0 | $0 | $0 | $0 | $164K | $0 | $0 | -$8K | $3.29M | $3.61M | $3.09M | $0 | -$141K | $0 | $0 | $0 | $0 | $3.59M | $3.59M | $2.99M | $0 |
| Total Long-Term Liabilities | $43.25M | $42.83M | $43.06M | $43.38M | $43.46M | $583K | $0 | $3.43M | $3.48M | $33.64M | $33.8M | $31.65M | $41K | $2.18M | $1.02M | $1.06M | $1.57M | $1.15M | $3.83M | $3.59M | $3.41M | $1.5M |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $51.85M | $49.28M | $48.74M | $49.74M | $51.15M | $48.66M | $50.28M | $46.72M | $43.17M | $43.63M | $39.66M | $37.97M | $2.74M | $22.11M | $9.07M | $8.06M | $20.97M | $12.97M | $12.26M | $9.84M | $9.41M | $4.19M |
| Stockholders' Equity | ||||||||||||||||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $5 | $5 | $4 | $3.15M | $2 | $2 | $560 | $140 | $186 |
| Common Stock | $1K | $1K | $1K | $1K | $1K | $1K | $1K | $1K | $1K | $1K | $1K | $1K | $980 | $62K | $50K | $28K | $21K | $16K | $13K | $8K | $5K | $3K |
| Retained Earnings | -$315.15M | -$312.69M | -$309.61M | -$306.22M | -$298.83M | -$302.27M | -$302.15M | -$299.5M | -$294.07M | -$289.34M | -$280.85M | -$275.18M | -$266.43M | -$248.51M | -$229.06M | -$219.16M | -$205.77M | -$182.68M | -$132.75M | -$106.73M | -$80.46M | -$69.48M |
| Comprehensive Income & Other | $1M | -$1.52M | -$1.48M | -$1.27M | -$1.05M | -$921K | -$1M | -$970K | -$676K | -$845K | -$2.38M | -$272K | -$0 | $0 | $0 | $0 | -$3.15M | -$3.5M | -$7.88M | -$2.65M | -$3.87M | -$331K |
| Other Stockholders' Equity | $303.6M | $301.08M | $301.12M | $301.16M | $301.2M | $301.35M | $301.25M | $301.13M | $300.04M | $298.03M | $295.21M | $295.09M | $290.39M | $252.88M | $242.62M | $222.45M | $193.37M | $182.7M | $134.36M | $109.07M | $72.25M | $66M |
| Total Equity | -$11.54M | -$11.61M | -$8.49M | -$5.05M | $2.37M | -$921K | -$902K | $1.64M | $5.98M | $8.69M | $14.37M | $19.92M | $23.96M | $4.43M | $13.62M | $3.31M | -$12.37M | $36K | $1.63M | $2.35M | -$8.21M | -$3.48M |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$185K | $0 | $0 | $1.4M | $0 | $0 | $0 |
| Total Liabilities and Equity | $40.3M | $37.67M | $40.24M | $44.68M | $53.52M | $47.73M | $49.38M | $48.36M | $49.15M | $52.32M | $54.03M | $57.88M | $26.7M | $26.53M | $22.69M | $11.37M | $8.59M | $13.01M | $13.89M | $12.19M | $1.2M | $709K |
| Supplementary Data | ||||||||||||||||||||||
| Total Debt | $43.45M | $42.95M | $43.51M | $44.01M | $44.14M | $31.54M | $33.83M | $33.87M | $33.75M | $33.59M | $30.99M | $30.47M | $189K | $15.61M | $2.81M | $3.34M | $13.84M | $5.08M | $4.27M | $4.11M | $2.4M | $2.29M |
| Net Debt | $39.35M | $39.38M | $39.46M | $38.7M | $35.72M | $24.78M | $26.93M | $28.42M | $31.72M | $31.82M | $26.08M | $19.37M | -$3.19M | $14.91M | $1.86M | $2.22M | $13.24M | $2.29M | -$1.29M | -$1.76M | $1.99M | $2.23M |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 | FY 2010 | FY 2009 | FY 2008 | FY 2007 | FY 2006 | FY 2005 | FY 2004 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-09-30 | 2024-09-30 | 2023-09-30 | 2022-09-30 | 2021-09-30 | 2020-09-30 | 2019-09-30 | 2018-09-30 | 2017-09-30 | 2016-09-30 | 2015-09-30 | 2014-09-30 | 2013-09-30 | 2012-09-30 | 2011-09-30 | 2010-09-30 | 2009-09-30 | 2008-09-30 | 2007-09-30 | 2006-09-30 | 2005-09-30 | 2004-09-30 |
| Operating Activities | ||||||||||||||||||||||
| Net Income | -$1.88M | -$3.08M | -$3.39M | -$7.39M | $3.44M | -$119K | -$2.56M | -$5.43M | -$4.73M | -$8.5M | -$5.67M | -$8.75M | -$18.33M | -$17.46M | -$9.86M | -$13.92M | -$23.08M | -$49.59M | -$26.02M | -$23.8M | -$10.98M | -$6.41M |
| Depreciation & Amortization | $3.87M | $4.52M | $4.82M | $5.3M | $4.3M | $3.99M | $4.06M | $3.98M | $4.46M | $4.72M | $4.4M | $2.46M | $2.41M | $2.08M | $1.79M | $1.44M | $2.09M | $1.74M | $3.02M | $10.09M | $1.21M | $943K |
| Deferred Income Tax | $16K | -$517K | -$134K | $0 | $0 | $1.11M | $1.11M | $564K | -$1.15M | $0 | $849K | $0 | $430K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Stock-Based Compensation | $0 | $3K | $160K | $208K | $0 | $20K | $21K | $1.72M | $1.14M | $1.35M | $1.66M | $802K | $160K | $3.58M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Changes in Working Capital: | ||||||||||||||||||||||
| Accounts Receivable | -$2.94M | -$215K | $1.51M | $694K | -$1.82M | $990K | -$1.42M | -$556K | $584K | -$2.72M | -$2.75M | -$193K | -$653K | $1.05M | -$2.73M | $102K | -$23K | $3.29M | $0 | $0 | $0 | $0 |
| Inventory | $130K | $775K | -$234K | -$748K | $4K | $81K | $499K | $0 | $260K | $259K | -$301K | -$1.73M | $187K | -$411K | -$503K | $183K | $0 | $0 | -$12K | $7K | $32K | $286K |
| Accounts Payable | $633K | $286K | -$547K | -$656K | $2.29M | $561K | $3.76M | $0 | $0 | $0 | $442K | $1.47M | -$1.47M | $487K | $1.04M | -$280K | $746K | -$1.37M | $0 | $0 | $0 | $0 |
| Other Working Capital | $2.9M | $1.72M | $1.38M | $284K | -$2.43M | -$1.2M | -$755K | $5.57M | $2.53M | $3.36M | $413K | $569K | $2.01M | $582K | $189K | -$224K | $2.33M | $1.19M | -$903K | -$2.56M | $1.25M | $404K |
| Total Working Capital Change | $722K | $2.57M | $2.11M | -$427K | -$1.96M | $429K | $2.09M | $5.01M | $3.38M | $901K | -$2.2M | $116K | $73K | $1.71M | -$2M | -$219K | $3.06M | $3.11M | -$915K | -$2.55M | $1.28M | $690K |
| Other Non-Cash Items | $1.54M | $1.41M | $180K | $3.12M | -$957K | -$700K | $355K | $186K | $1.05M | $2.43M | $40K | $790K | $16.22M | $11.96M | $3.25M | $6.82M | $9.42M | $35.07M | $9.75M | $4.86M | $4.65M | $2.74M |
| Net Cash from Operating | $4.27M | $4.91M | $3.88M | $803K | $4.82M | $4.73M | $5.07M | $6.03M | $4.15M | $908K | -$915K | -$4.58M | $966K | -$1.71M | -$6.81M | -$5.89M | -$8.52M | -$9.67M | -$14.17M | -$11.4M | -$3.84M | -$2.04M |
| Investing Activities | ||||||||||||||||||||||
| Capital Expenditures | -$210K | -$1.82M | -$3.54M | -$3.06M | -$4.51M | -$2.94M | -$3.28M | -$2.54M | -$4.34M | -$5.06M | -$2.46M | -$1.87M | -$560K | -$2.86M | -$3.28M | -$2.23M | -$1.69M | -$526K | -$4.26M | -$3.34M | -$312K | -$103K |
| Acquisitions | $0 | $0 | $0 | $0 | $0 | $0 | $11K | $9K | $512K | $0 | -$1.78M | -$7.86M | $0 | $0 | -$390K | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Purchases of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Sales of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $56K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Investing Activities | -$4.17M | -$2.02M | -$1.02M | -$865K | -$1.35M | -$1.51M | $11K | $9K | $513K | -$2.09M | -$567K | -$3.16M | $0 | $137K | -$45K | $106K | $17K | -$192K | $0 | $2K | $8K | $3K |
| Net Cash from Investing | -$4.38M | -$3.84M | -$4.56M | -$3.06M | -$4.51M | -$2.94M | -$3.27M | -$2.54M | -$3.83M | -$5.06M | -$4.24M | -$12.84M | -$560K | -$2.72M | -$3.72M | -$2.12M | -$1.68M | -$526K | -$4.26M | -$3.33M | -$303K | -$100K |
| Financing Activities | ||||||||||||||||||||||
| Debt Repaid | $11K | $327K | $467K | $495K | -$1.67M | $1.79M | $65K | $66K | $68K | -$978K | $976K | -$25.48M | - | -$2.29M | $1.28M | $25K | -$3.38M | $1.82M | - | - | -$2.71M | -$1.04M |
| Common Stock Issuance | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $8K | $0 | $1.03M | $0 | $0 | $3.25M | $10.23M | $17.13M | $16.2M | $2.61M | $706K |
| Common Stock Repurchases | $0 | $0 | $0 | -$31K | -$30K | $0 | $0 | $0 | $0 | $0 | -$11K | -$312K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Financing Activities | $0 | -$38K | -$44K | -$21K | -$260K | $0 | $0 | $0 | $0 | $0 | $0 | -$35K | $18K | -$1.15M | $0 | $0 | $0 | $163K | $0 | $505K | $0 | -$225K |
| Net Cash from Financing | -$11K | -$365K | -$511K | -$516K | $1.38M | -$1.79M | -$65K | -$66K | -$68K | $978K | -$987K | $25.14M | $2.52M | $4.18M | $10.35M | $8.53M | $8.02M | $8.18M | $18.11M | $20.19M | $4.5M | $2.06M |
| Forex Effect | $651K | -$181K | -$55K | -$337K | -$33K | -$124K | -$288K | -$10K | $5K | $38K | -$58K | -$5K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | $524K | $524K | -$1.25M | -$3.11M | $1.66M | -$135K | $1.45M | $3.42M | $257K | -$3.13M | -$6.2M | $7.72M | $2.92M | -$255K | -$176K | $524K | -$2.18M | -$2.02M | -$316K | $5.46M | $354K | -$75K |
| Supplementary Data | ||||||||||||||||||||||
| Operating Cash Flow | $4.27M | $4.91M | $3.88M | $803K | $4.82M | $4.73M | $5.07M | $6.03M | $4.15M | $908K | -$915K | -$4.58M | $966K | -$1.71M | -$6.81M | -$5.89M | -$8.52M | -$9.67M | -$14.17M | -$11.4M | -$3.84M | -$2.04M |
| Capital Expenditure | -$2.88M | -$1.82M | -$4.56M | -$3.06M | -$4.51M | -$2.94M | -$3.28M | -$2.54M | -$4.34M | -$5.06M | -$2.46M | -$1.87M | -$560K | -$2.86M | -$3.28M | -$2.23M | -$1.69M | -$526K | -$4.26M | -$3.34M | -$312K | -$103K |
| Free Cash Flow | $1.38M | $3.09M | -$687K | -$2.26M | $314K | $1.78M | $1.79M | $3.49M | -$193K | -$4.15M | -$3.37M | -$6.46M | $405K | -$4.57M | -$10.09M | -$8.11M | -$10.21M | -$10.2M | -$18.43M | -$14.73M | -$4.15M | -$2.14M |
| Cash at Beginning | $4.58M | $4.06M | $5.31M | $8.42M | $6.76M | $6.9M | $5.45M | $2.03M | $1.77M | $4.9M | $11.1M | $3.38M | $458K | $950K | $1.13M | $602K | $2.78M | $4.8M | $5.87M | $416K | $62K | $137K |
| Cash at End | $4.1M | $4.58M | $4.06M | $5.31M | $8.42M | $6.76M | $6.9M | $5.45M | $2.03M | $1.77M | $4.9M | $11.1M | $3.38M | $695K | $950K | $1.13M | $602K | $2.78M | $5.56M | $5.87M | $416K | $62K |