ReposiTrak, Inc. 10-Q: Contract Assets Detailed

TL;DR

ReposiTrak 10-Q shows contract assets at $646K for Dec 31, 2024. Fiscal year ends June 30.

AI Summary

ReposiTrak, Inc. filed its 10-Q for the period ending December 31, 2024. The company reported contract asset balances of $645,983 as of December 31, 2024, and $671,763 as of September 30, 2024. The filing also indicates a fiscal year end of June 30.

Why It Matters

This filing provides insight into ReposiTrak's contract asset management, which can affect revenue recognition and financial stability.

Risk Assessment

Risk Level: low — The filing is a routine quarterly report with no immediate red flags.

Key Numbers

• $645,983 — Contract Asset Balance (As of December 31, 2024)
• $671,763 — Contract Asset Balance (As of September 30, 2024)

Key Players & Entities

• ReposiTrak, Inc. (company) — Filer of the 10-Q
• December 31, 2024 (date) — Period end for contract asset reporting
• $645,983 (dollar_amount) — Current contract asset balance
• September 30, 2024 (date) — Previous contract asset reporting date
• $671,763 (dollar_amount) — Previous contract asset balance
• June 30 (date) — Fiscal year end

FAQ

Key Financial Figures

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

Filing Documents

• trak20241231c_10q.htm (10-Q) — 1343KB
• ex_763094.htm (EX-31.1) — 11KB
• ex_763095.htm (EX-31.2) — 11KB
• ex_763096.htm (EX-32.1) — 5KB
• ex_763097.htm (EX-32.2) — 5KB
• 0001437749-25-003595.txt ( ) — 5084KB
• trak-20241231.xsd (EX-101.SCH) — 30KB
• trak-20241231_cal.xml (EX-101.CAL) — 32KB
• trak-20241231_def.xml (EX-101.DEF) — 201KB
• trak-20241231_lab.xml (EX-101.LAB) — 217KB
• trak-20241231_pre.xml (EX-101.PRE) — 227KB
• trak20241231c_10q_htm.xml (XML) — 883KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements 1 Consolidated Condensed Balance Sheets as of December 31, 2024 and June 30, 2024 (Unaudited) 1 Consolidated Condensed Statements of Operations and Comprehensive Income for the Three and Six months Ended December 31, 2024 and 2023 (Unaudited) 2 Consolidated Condensed Statements of Cash Flows for the Six months Ended December 31, 2024 and 2023 (Unaudited) 3 Consolidated Condensed Statements of Stockholders' Equity for the Three and Six months Ended December 31, 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 23 Item 4.

Controls and Procedures

Controls and Procedures 23

OTHER INFORMATION

PART II OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 24 Item 1A.

Risk Factors

Risk Factors 24 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 24 Item 3. Defaults Upon Senior Securities 24 Item 5. Other Information 24 Item 6. Exhibits 24

Signatures

Signatures 25 Table of Contents PART I FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS REPOSITRAK, INC. Consolidated Condensed Balance Sheets (Unaudited) December 31, June 30, 2024 2024 Assets Current Assets Cash $ 28,041,398 $ 25,153,862 Receivables, net of allowance for doubtful accounts of $ 221,406 and $ 227,573 at December 31, 2024 and June 30, 2024, respectively 3,374,594 3,678,627 Contract asset – unbilled current portion 645,983 181,680 Prepaid expense and other current assets 332,564 285,998 Total Current Assets 32,394,539 29,300,167 Property and equipment, net 893,076 513,277 Other Assets: Deposits and other assets 22,414 22,414 Prepaid expense – less current portion 1,826 2,609 Contract asset – unbilled long-term portion - 108,052 Operating lease – right-of-use asset 218,954 250,306 Customer relationships 65,700 131,400 Goodwill 20,883,886 20,883,886 Capitalized software costs, net 256,414 384,621 Total Other Assets 21,449,194 21,783,288 Total Assets $ 54,736,809 $ 51,596,732 Liabilities and Shareholders' Equity Current liabilities Accounts payable $ 291,872 $ 265,086 Accrued liabilities 1,417,272 1,554,775 Contract liability – deferred revenue 4,160,207 2,441,234 Operating lease liability – current 66,846 64,076 Notes payable and financing leases – current 316,738 217,971 Total current liabilities 6,252,935 4,543,142 Long-term liabilities Operating lease liability – less current portion 164,984 198,972 Notes payable and financing leases – less current portion 384,136 - Total liabilities 6,802,055 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; 476,284 and 616,470 shares issued and outstanding at December 31, 2024 and June 30, 2024, respectively 4,763 6,165 Common Stock, $ 0.01 par value, 50,000,000 shares authorized; 18,257,322 and 18,234,893 and issued and outstanding at Decem

View Full Filing

View this 10-Q filing on SEC EDGAR