Track Group Inc

trackgrp.com

What Do They Do?

Leases tracking devices and provides electronic monitoring, software and data analytics to government law enforcement agencies and international justice ministries.

How Do They Make Money?

Customers pay for leased devices and monitoring as services are provided, with invoices due 30 days from invoice date; product buyers generally pay within 60 days of shipment.

revenue

Segment	Share	Revenue	How money arrives
Monitoring and Other Related Services Recurring	93% FY2022: 97%		Recurring
Product Sales and Other Sold outright	6.7% FY2022: 3.3%		Sold outright

Who Are Their Customers?

Federal, state and local law enforcement agencies and international justice ministries buy its products and services. It sells through a direct sales force and value-added resellers, and directly to end users and distributors.

Do Revenues Turn Into Profits?

No. It lost $1.9M in FY2025.

Operating income, FY2025

4% of revenue

▲ Now profitable vs FY2024 (−$1.9M, −5%)

Net income, FY2025

−5% of revenue

▼ −39% (Loss) vs FY2024 (−$3.1M, −8%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q3 FY2026, the three months to Jun 30, 2026

Revenue: ▼ 0%; vs $9.1M in Q3 FY2025
Net income: ▲ +1465%; vs $1.4M in Q3 FY2025

Monitoring and Other Related Services share of revenue vs 88.8% in Q3 FY2025

Shrinking. Revenue fell 11% in 4 years, from $39.7M in FY2021 to $35.2M in FY2025, about 3% a year.

Revenue over time

Monitoring and Other Related Services Product Sales and Other

$50M$25M$0

FY2021 FY2022 FY2023 FY2024 FY2025

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