ReposiTrak Q1 FY25: Assets $215K, Liabilities $227K

TL;DR

ReposiTrak's Q1 FY25 shows liabilities slightly exceeding assets, with $30M long-term debt.

AI Summary

ReposiTrak, Inc. filed its 10-Q for the period ending September 30, 2024. The company reported total assets of $215,480 and total liabilities of $227,573 for the first quarter of fiscal year 2025. Key financial figures include $30,000,000 in long-term debt and $18,246,090 in contract assets as of September 30, 2024.

Why It Matters

This filing provides a snapshot of ReposiTrak's financial health at the end of Q1 FY25, indicating a slight net liability position and significant contract asset balances.

Risk Assessment

Risk Level: medium — The company has more liabilities than assets and a significant amount of long-term debt, which could indicate financial strain.

Key Numbers

• $215.48K — Total Assets (As of September 30, 2024 (Q1 FY25))
• $227.57K — Total Liabilities (As of September 30, 2024 (Q1 FY25))
• $30.00M — Long-Term Debt (As of September 30, 2024)
• $18.25M — Contract Assets (As of September 30, 2024)
• $671,763 — Current Contract Asset (As of September 30, 2024)

Key Players & Entities

• ReposiTrak, Inc. (company) — Filer of the 10-Q
• 20240930 (date) — End of reporting period
• 20241114 (date) — Filing date
• $215,480 (dollar_amount) — Total assets for Q1 2025
• $227,573 (dollar_amount) — Total liabilities for Q1 2025
• $30,000,000 (dollar_amount) — Long-term debt
• $18,246,090 (dollar_amount) — Contract assets

FAQ

Key Financial Figures

• $0.01 — registered Common stock, par value $0.01 per share TRAK New York Stock Excha

Filing Documents

• trak20240930_10q.htm (10-Q) — 1009KB
• ex_733829.htm (EX-31.1) — 11KB
• ex_733830.htm (EX-31.2) — 11KB
• ex_733831.htm (EX-32.1) — 5KB
• ex_733832.htm (EX-32.2) — 5KB
• 0001437749-24-035376.txt ( ) — 4424KB
• trak-20240930.xsd (EX-101.SCH) — 29KB
• trak-20240930_cal.xml (EX-101.CAL) — 31KB
• trak-20240930_def.xml (EX-101.DEF) — 196KB
• trak-20240930_lab.xml (EX-101.LAB) — 211KB
• trak-20240930_pre.xml (EX-101.PRE) — 224KB
• trak20240930_10q_htm.xml (XML) — 731KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements 1 Consolidated Condensed Balance Sheets as of September 30, 2024 and June 30, 2024 (Unaudited) 1 Consolidated Condensed Statements of Operations and Comprehensive Income for the Three months Ended September 30, 2024 and 2023 (Unaudited) 2 Consolidated Condensed Statements of Cash Flows for the Three months Ended September 30, 2024 and 2023 (Unaudited) 3 Consolidated Condensed Statements of Stockholders' Equity for the Three months Ended September 30, 2024 and 2023 (Unaudited) 4 Notes to Consolidated Condensed Financial Statements 5 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 13 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 21 Item 4.

Controls and Procedures

Controls and Procedures 21

OTHER INFORMATION

PART II OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 22 Item 1A.

Risk Factors

Risk Factors 22 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 22 Item 3. Defaults Upon Senior Securities 22 Item 5. Other Information 22 Item 6. Exhibits 22

Signatures

Signatures 23 Table of Contents PART I FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS REPOSITRAK, INC. Consolidated Condensed Balance Sheets (Unaudited) September 30, June 30, 2024 2024 Assets Current Assets Cash $ 25,790,206 $ 25,153,862 Receivables, net of allowance for doubtful accounts of $ 215,480 and $ 227,573 at September 30, 2024 and June 30, 2024, respectively 3,297,932 3,678,627 Contract asset – unbilled current portion 671,763 181,680 Prepaid expense and other current assets 332,018 285,998 Total Current Assets 30,091,919 29,300,167 Property and equipment, net 675,721 513,277 Other Assets: Deposits and other assets 22,414 22,414 Prepaid expense – less current portion 2,218 2,609 Contract asset – unbilled long-term portion - 108,052 Operating lease – right-of-use asset 234,729 250,306 Customer relationships 98,550 131,400 Goodwill 20,883,886 20,883,886 Capitalized software costs, net 320,518 384,621 Total Other Assets 21,562,315 21,783,288 Total Assets $ 52,329,955 $ 51,596,732 Liabilities and Shareholders' Equity Current liabilities Accounts payable $ 331,755 $ 265,086 Accrued liabilities 1,286,725 1,554,775 Contract liability – deferred revenue 2,585,019 2,441,234 Operating lease liability – current 65,452 64,076 Notes payable and financing leases – current 188,425 217,971 Total current liabilities 4,457,376 4,543,142 Long-term liabilities Operating lease liability – less current portion 182,085 198,972 Notes payable and financing leases – less current portion 165,735 - Total liabilities 4,805,196 4,742,114 Commitments and contingencies Stockholders' equity: Preferred Stock; $ 0.01 par value, 30,000,000 shares authorized; Series B Preferred, 700,000 shares authorized; 546,377 and 616,470 shares issued and outstanding at September 30, 2024 and June 30, 2024, respectively 5,464 6,165 Common Stock, $ 0.01 par value, 50,000,000 shares authorized; 18,246,090 and 18,234,893 and issued and outstanding at Se

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