Track Group Inc (OTC: TRCK) is an offender monitoring technology company that provides GPS tracking devices, monitoring software, and 24/7 supervision services to government agencies managing incarcerated or supervised populations. Revenue comes from service contracts with federal, state, and county corrections agencies in the United States and with Ministries of Justice internationally. The company supplies hardware devices such as the ReliAlert XC3 GPS ankle monitor and the RF Beacon, operates cloud-based software platforms including IntelliTrack and TrackerPAL, and runs live monitoring centers staffed around the clock. Its device-agnostic software platform integrates with case management systems used by sheriff, probation, and pre-trial departments. Foreign currency revenue was $485,173 in FY2025 and $5,745,546 in FY2024, with Chilean Peso and Canadian dollar exposure, reflecting a sharp reduction in international business. The fiscal year ends September 30, with the most recent annual period being FY2025 ended September 30, 2025, as reported in the 10-K filed December 19, 2025.

Revenue model

Service contracts with government corrections agencies, combining hardware device deployment with recurring monitoring center fees and software subscriptions. Revenue is generated per monitored offender under agency contracts.

Products and services

GPS ankle monitoring devices including the ReliAlert XC3 (two/three-way voice, 50+ hour battery, 3G cellular); RF Beacon short-range transmitter for location tethering; IntelliTrack cloud-based device-agnostic tracking platform with Google Maps integration; TrackerPAL cloud-based monitoring and analytics system; IntelliTrack Mobile and TrackerPAL Mobile applications for Android and iOS; data analytics software for predictive criminal behavior assessment; 24/7/365 live monitoring center operations.

Customers and end markets

Primary customers are government agencies: U.S. state departments of corrections, county probation agencies, sheriff's offices, federal agencies, and international Ministries of Justice. End market is community corrections and alternative incarceration for low-risk offender populations.

Value-chain role

Vertically integrated provider supplying hardware devices, operating system software, application software, data analytics, and live monitoring center services directly to government corrections customers.

Geographic exposure

Primarily United States. International operations include Chile and Canada, with monitoring center support in Chile. Foreign currency revenue declined from $5,745,546 in FY2024 to $485,173 in FY2025.

Source: SEC 10-K, filed 2025-12-19

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