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ReposiTrak Inc. (TRAK-1.36%) has submitted its 10-Q filing for the quarterly period ended December 31, 2024.
The filing includes financial statements for the quarter, showing revenue of $5,490,908, up from $5,125,751 in the same quarter the previous year. The increase is attributed to growth in recurring subscription revenue across compliance, supply chain, and traceability services.
Cost of services and product support for the quarter was $1,002,556, representing 18% of revenue, compared to 19% in the same quarter of the previous year. This cost increase is primarily due to development efforts to support the FSMA 204 initiative.
Sales and marketing expenses increased to $1,455,036 from $1,264,377, primarily due to higher sales commissions and marketing investments related to FSMA 204 traceability awareness.
General and administrative expenses were $1,376,553 for the quarter, a slight increase from $1,347,278 in the previous year, mainly due to higher employee benefit costs and insurance.
The company reported a net income of $1,551,080 for the quarter, compared to $1,451,149 in the previous year. After preferred dividends, net income attributable to common shareholders was $1,455,464, up from $1,304,538 in the previous year.
Net cash provided by operating activities was $5,328,630, compared to $2,451,947 in the previous year, driven by increased deferred revenue and collections.
ReposiTrak had a working capital of $26,141,604 as of December 31, 2024. The company expects to continue increasing cash flow from operations and working capital position in subsequent periods.
The filing also details the redemption of preferred stock, with a total of 361,493 shares redeemed since the inception of the redemption plan.
ReposiTrak does not have any off-balance sheet arrangements that are likely to impact its financial condition.
The company continues to focus on expanding its traceability network and enhancing its compliance and supply chain solutions.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the ReposiTrak Inc. quarterly 10-Q report dated February 12, 2025. To report an error, please email earnings@qz.com.