TRCK on OTC
Track Group, Inc.
American communications equipment company based in Naperville. Summary from the record
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Last updated Oct 19, 2026.
Overview
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- TickerTRCK on OTC2
- IndustryCommunications Equipment, NEC2
- HeadquartersNaperville, United States2
- Incorporated inDE4
- Business address200 E. 5Th Avenue Suite 100, Naperville, Il 605634
- Filer categoryNon-accelerated filer, Smaller reporting company4
- Legal formCorporation2
- LEI549300RVO08168K5S2622
- StatusActive2
- LEI statusLapsed (not renewed)2
- Registered addressC/O CORPORATION SERVICE COMPANY, 19808 Wilmington, United States2
- Registered withDivision of Corporations, Department of State, 61160742
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Track Group, Inc., (the “ Company ”, “ we ”, “ us ”, and “ our ”), a Delaware corporation since 2016 and previously incorporated in 1995 as a Utah corporation, has its principal place of business at 200 E. 5th Avenue Suite 100, Naperville, Illinois 60563. Our telephone number is (877) 260-2010. We maintain a corporate website at www.trackgrp.com. Our common stock, par value $0.0001 per share (“ Common Stock ”), is currently listed for quotation on the OTCQB Venture Markets (“ OTCQB ”) under the symbol “TRCK”. Unless specified otherwise, as used in this Annual Report, references to Track Group, Inc. include the Company and its subsidiaries: Track Group Americas, Inc., a Utah corporation; Track Group – Puerto Rico, Inc., a Puerto Rico corporation; Emerge Monitoring, Inc., a Florida corporation; Emerge Monitoring II LLC, a Florida limited liability company; Integrated Monitoring Systems, LL…5 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Monitoring and Other Related Services brought in 93% of the revenue Track Group, Inc. broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2024 | 2025 |
|---|---|---|
| Monitoring and Other Related Services | $35.7M | $32.9M |
| Product Sales and Other | $1.2M | $2.3M |
Regions
United States brought in 76% of the revenue Track Group, Inc. broke down this way in fiscal 2025.
Regions by year
| Regions | 2024 | 2025 |
|---|---|---|
| United States | $26.0M | $26.9M |
| Latin America | $9.9M | $6.7M |
| Other than United States and Latin America | $1.0M | $1.6M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue50¢$17.7M
- Research and development8¢$2.8M
- Other costs41¢$14.6M
- Income tax0¢$104.1K
Out of $35.2M in revenue.3 The company lost money this year.
Where each dollar of operating cash went, fiscal 2025
- Kept or used elsewhere100¢$4.3M
Out of $4.3M of cash from operations.3
Financial statements
Every line of the income statement as filed: the last 2 fiscal years, latest first.3
| Period ending | 2025-09-30 | 2024-09-30 |
|---|---|---|
| Revenues | $35.2M | $36.9M |
| Monitoring, products and other related services | $14.8M | $16.6M |
| Depreciation and amortization included in cost of revenue | $3.0M | $3.1M |
| Total cost of revenue | $17.7M | $19.7M |
| Gross profit | $17.5M | $17.2M |
| General & administrative | $8.8M | $11.5M |
| Selling & marketing | $3.7M | $3.1M |
| Research & development | $2.8M | $2.7M |
| Depreciation & amortization | $910.3K | $944.1K |
| Total operating expense | $16.3M | $19.1M |
| Operating income (loss) | $1.2M | -$1.9M |
| Interest income | $2.8K | $126.4K |
| Interest expense | -$2.3M | -$2.0M |
| Currency exchange rate gain (loss) | -$688.7K | $115.3K |
| Other income (expense), net | $0 | -$3.6K |
| Total other income (expense) | -$3.0M | -$1.8M |
| Income (loss) before income taxes | -$1.8M | -$3.7M |
| Income tax expense (benefit) | $104.1K | -$589.5K |
| Net income (loss) attributable to common stockholders | -$1.9M | -$3.1M |
| Foreign currency translation adjustments | $559.3K | -$38.5K |
| Comprehensive income (loss) | $638.0K | -$3.1M |
| Net income (loss) per common share (in dollars per share) | -$0.16 | -$0.26 |
| Weighted average common shares outstanding (in shares) | 11.9M shares | 11.9M shares |
| Net income (loss) per common share (in dollars per share) | -$0.16 | -$0.26 |
| Weighted average common shares outstanding (in shares) | 11.9M shares | 11.9M shares |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 3 fiscal years (annual) or 3 quarters (quarterly), latest first.3
| Period ending | 2025-09-30 | 2024-09-30 | 2023-09-30 |
|---|---|---|---|
| Cash | $4.1M | $3.6M | |
| Accounts receivable, net of allowance for credit losses of $596,059 and $432,904, respectively | $6.5M | $4.4M | |
| Prepaid expense and deposits | $353.3K | $638.3K | |
| Inventory, net of reserves of $61,535 and $82,848, respectively | $473.5K | $582.5K | |
| Assets held for sale | $0 | $969.5K | |
| Total current assets | $11.4M | $10.2M | |
| Intangible assets, net of accumulated amortization of $21,616,041 and $19,699,966, respectively | $14.0M | $14.0M | |
| Goodwill | $8.3M | $7.9M | $7.9M |
| Other assets, net | $1.1M | $660.2K | |
| Total assets | $40.3M | $37.7M | |
| Accounts payable | $3.7M | $3.1M | |
| Accrued liabilities | $4.9M | $2.6M | |
| Liabilities held for sale | $0 | $732.0K | |
| Total current liabilities | $8.6M | $6.5M | |
| Long-term debt, net of current portion | $42.7M | $42.6M | |
| Long-term liabilities | $529.3K | $186.4K | |
| Total liabilities | $51.8M | $49.3M | |
| Common stock, $0.0001 par value: 30,000,000 shares authorized; 11,863,758 and 11,863,758 shares outstanding, respectively | $1.2K | $1.2K | |
| Preferred stock, $0.0001 par value: 20,000,000 shares authorized; 0 shares outstanding | $0 | $0 | |
| Paid in capital | $302.6M | $302.6M | |
| Accumulated deficit | -$315.1M | -$312.7M | |
| Accumulated other comprehensive income (loss) | $1.0M | -$1.5M | |
| Total equity (deficit) | -$11.5M | -$11.6M | -$8.5M |
| Total liabilities and stockholders equity (deficit) | $40.3M | $37.7M | |
| Accounts Receivable, Allowance for Credit Loss, Current | $596.1K | $432.9K | |
| Reserve for inventory | $61.5K | $82.8K | |
| Intangible assets, accumulated amortization | $21.6M | $19.7M | |
| Common Stock, Par or Stated Value Per Share (in dollars per share) | $0.00 | $0.00 | |
| Common Stock, Shares Authorized (in shares) | 30.0M shares | 30.0M shares | |
| Common stock - shares outstanding (in shares) | 11.9M shares | 11.9M shares | |
| Preferred Stock, Par or Stated Value Per Share (in dollars per share) | $0.00 | $0.00 | |
| Preferred Stock, Shares Outstanding (in shares) | 0 shares | 0 shares | |
| Series A Convertible Preferred Stock - shares authorized (in shares) | 20.0M shares | 20.0M shares |
| Period ending | 2025-09-30 | 2024-09-30 | 2023-09-30 |
|---|---|---|---|
| Cash | $4.1M | $3.6M | |
| Accounts receivable, net of allowance for credit losses of $596,059 and $432,904, respectively | $6.5M | $4.4M | |
| Prepaid expense and deposits | $353.3K | $638.3K | |
| Inventory, net of reserves of $61,535 and $82,848, respectively | $473.5K | $582.5K | |
| Assets held for sale | $0 | $969.5K | |
| Total current assets | $11.4M | $10.2M | |
| Intangible assets, net of accumulated amortization of $21,616,041 and $19,699,966, respectively | $14.0M | $14.0M | |
| Goodwill | $8.3M | $7.9M | $7.9M |
| Other assets, net | $1.1M | $660.2K | |
| Total assets | $40.3M | $37.7M | |
| Accounts payable | $3.7M | $3.1M | |
| Accrued liabilities | $4.9M | $2.6M | |
| Liabilities held for sale | $0 | $732.0K | |
| Total current liabilities | $8.6M | $6.5M | |
| Long-term debt, net of current portion | $42.7M | $42.6M | |
| Long-term liabilities | $529.3K | $186.4K | |
| Total liabilities | $51.8M | $49.3M | |
| Common stock, $0.0001 par value: 30,000,000 shares authorized; 11,863,758 and 11,863,758 shares outstanding, respectively | $1.2K | $1.2K | |
| Preferred stock, $0.0001 par value: 20,000,000 shares authorized; 0 shares outstanding | $0 | $0 | |
| Paid in capital | $302.6M | $302.6M | |
| Accumulated deficit | -$315.1M | -$312.7M | |
| Accumulated other comprehensive income (loss) | $1.0M | -$1.5M | |
| Total equity (deficit) | -$11.5M | -$11.6M | -$8.5M |
| Total liabilities and stockholders equity (deficit) | $40.3M | $37.7M | |
| Accounts Receivable, Allowance for Credit Loss, Current | $596.1K | $432.9K | |
| Reserve for inventory | $61.5K | $82.8K | |
| Intangible assets, accumulated amortization | $21.6M | $19.7M | |
| Common Stock, Par or Stated Value Per Share (in dollars per share) | $0.00 | $0.00 | |
| Common Stock, Shares Authorized (in shares) | 30.0M shares | 30.0M shares | |
| Common stock - shares outstanding (in shares) | 11.9M shares | 11.9M shares | |
| Preferred Stock, Par or Stated Value Per Share (in dollars per share) | $0.00 | $0.00 | |
| Preferred Stock, Shares Outstanding (in shares) | 0 shares | 0 shares | |
| Series A Convertible Preferred Stock - shares authorized (in shares) | 20.0M shares | 20.0M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 2 fiscal years, latest first.3
| Period ending | 2025-09-30 | 2024-09-30 |
|---|---|---|
| Net loss | -$1.9M | -$3.1M |
| Depreciation and amortization | $3.9M | $4.0M |
| Credit losses | $493.7K | $276.6K |
| Sales allowance | -$60.0K | $46.9K |
| Allowance for obsolete inventory | -$21.3K | $0 |
| Stock-based compensation | $0 | $3.4K |
| Deferred Taxes | $16.5K | -$516.7K |
| Loss on monitoring equipment included in cost of revenue | $337.9K | $332.7K |
| Amortization of debt issuance costs | $82.3K | $111.4K |
| Amortization of monitoring center assets included in cost of revenue | $0 | $519.3K |
| Foreign currency exchange (gain)/loss | $688.7K | -$115.3K |
| Right of use assets/liabilities | $8.1K | $0 |
| Loss on disposal of assets | $397 | $3.6K |
| Accounts receivable, net | -$2.9M | -$215.1K |
| Inventories, net | $130.3K | $775.3K |
| Current assets held for sale | $719.2K | -$719.2K |
| Prepaid expense, deposits and other assets | -$164.5K | $1.7M |
| Noncurrent assets | -$10.6K | $10.6K |
| Accounts payable | $632.8K | $285.8K |
| Accrued liabilities | $3.0M | $41.2K |
| Current liabilities held for sale | -$732.0K | $732.0K |
| Other current liabilities | $58.2K | -$58.2K |
| Net cash provided by operating activities | $4.3M | $4.9M |
| Purchase of property and equipment | -$210.4K | -$278.3K |
| Capitalized software | -$2.2M | -$2.0M |
| Purchase of monitoring equipment and parts | -$2.7M | -$1.5M |
| Net cash used in investing activities | -$4.4M | -$3.8M |
| Principal payments on long-term debt | -$11.4K | -$326.7K |
| Payment of deferred financing fees | -$52.4K | -$38.3K |
| Net cash used in financing activities | -$63.8K | -$365.1K |
| Effect of exchange rate changes on cash | -$356.4K | -$180.9K |
| Net increase (decrease) in cash | -$483.5K | $524.4K |
| Cash paid for interest | $58.0K | $1.8M |
| Cash paid for taxes | $95.7K | $36.0K |
| Purchase of monitoring equipment in accounts payable | $285.2K | $0 |
No quarter-by-quarter statement was filed.
Leadership
Who has led Track Group, Inc., and when. Pick a name to see everywhere that person has worked.
Chief executive
President
Chief financial officer
Chief operating officer
- Chief executive officerDerek Cassell Jan 10, 2018 to now15
- Chief executive officerDavid G. Derrick Jul 13, 2006 to Jul 21, 201116
- PresidentJohn L. Hastings Iii. Jun 26, 2008 to May 18, 201217
- Chief financial officerJames A. Berg Apr 1, 2024 to now18
- Chief financial officerPeter K. Poli Mar 16, 2017 to Aug 19, 202119
- Chief financial officerChad Olsen Jan 21, 2010 to Apr 14, 201420
- Chief financial officerBlake Rigby Jun 26, 2008 to Jun 26, 200821
- Chief financial officerMichael G. Acton Jan 23, 2006 to Dec 14, 200722
- Chief operating officerBlake Rigby Jun 26, 2008 to Jun 26, 200821
Board members and other officers (24)
- Chief Marketing OfficerArthur Jacob Gigler Dec 31, 2024 to now23
- Chief Information OfficerTimothy Hardy Dec 31, 2024 to now24
- CHIEF REVENUE OFFICERMatthew J. Swando Jun 8, 2022 to now25
- Member of Executive CommitteeDavid S. Boone Jun 3, 2013 to Oct 11, 201726
- VP/Managing DirectorBernadette Suckel Jun 26, 2008 to Jun 26, 200827
- Board memberDerek Cassell May 4, 2026 to now28
- Board memberDenver Johnson Smith May 6, 2026 to now29
- Board memberJacob James Saour May 6, 2026 to now30
- Board memberKyle Thomas Kidd May 6, 2026 to now31
- Board memberMatthew Scott Powalski May 6, 2026 to now32
- Board memberKarim Sehnaoui Feb 16, 2018 to Mar 20, 202433
- Board memberKaren M. Ferguson Jan 5, 2016 to Jan 3, 202234
- Board memberCharles Eric Rosenblum Oct 6, 2016 to May 3, 201835
- Board memberDaele Dirk Karel Van Jun 3, 2015 to May 17, 201836
- Board memberDavid S. Boone May 23, 2013 to May 3, 201837
- Board memberWinfried Kunz Jul 3, 2013 to Apr 23, 201438
- Board memberGeorge Frederick Schmitt Mar 9, 2012 to Jul 8, 201439
- Board memberRene Klinkhammer Jan 29, 2010 to Feb 9, 201540
- Board memberEdgar Bernardi Feb 4, 2010 to Oct 28, 201141
- Board memberLawrence G. Schafran Jan 29, 2007 to Jan 15, 201342
- Board memberDavid Patrick Hanlon Feb 16, 2007 to Apr 23, 201343
- Board memberRobert Childers Feb 22, 2007 to Oct 14, 201144
- Board memberPeter McCall Feb 23, 2007 to Aug 5, 200845
- Board memberDavid G. Derrick Jul 13, 2006 to Jul 21, 201116
Named in SEC Form D filings
People the company listed in its private-offering notices.
- DirectorJohn Sullivan named May 14, 202646
Former names
Timeline
Filings
109 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 33 major events, 34 insider forms, 12 large holders, 1 private raises, 9 other. The latest 20:
- Oct 1, 20264 OWNERSHIP DOCUMENT EDGAR
- Sep 14, 20264/A EDGAR
- Sep 14, 20264/A EDGAR
- Aug 24, 20264 EDGAR
- Aug 24, 20264 EDGAR
- Aug 24, 20264 EDGAR
- Aug 24, 20264 EDGAR
- Aug 24, 20264 EDGAR
- Aug 24, 20264 EDGAR
- Aug 24, 20264 EDGAR
- Aug 24, 20264 EDGAR
- Aug 24, 20264 EDGAR
- Aug 24, 20264 EDGAR
- Aug 24, 20268-K EDGAR
- Aug 24, 20264 EDGAR
- Aug 20, 2026S-8 EDGAR
- Aug 14, 20268-K EDGAR
- Aug 14, 202610-Q EDGAR
- Jul 20, 2026DEF 14C EDGAR
- Jul 14, 2026424B3 EDGAR
The 109 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
2 open-market trades by officers, directors and large owners since October 2021: 2 buys and 0 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Mar 19, 2024 | Sehnaoui KarimDirector | Buy | 370,000 | $0.27 | $99.9K | Form 4 |
| Feb 1, 2024 | Sehnaoui KarimDirector | Buy | 4,400 | $0.20 | $880 | Form 4 |
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- JCP Investment Management, LLCSCHEDULE 13D, 1 filing May 5, 202647
- Denver Johnson SmithSCHEDULE 13D/A, 3 filings Jan 16, 2025 to May 4, 202648
- ADS Securities LLCSCHEDULE 13D/A, 3 filings Jun 3, 2022 to Dec 26, 202449
- Invest S.a. ConrentSC 13D/A, 2 filings Jul 17, 2023 to Mar 25, 202450
- CRC Founders Fund, LPSC 13G/A, 2 filings Jun 22, 2023 to Jan 10, 202451
- Invest S.a. SafetySC 13D/A, 1 filing Aug 1, 202352
Money raised
Private offerings the company reported to the SEC on Form D.
- Apr 30, 2026Raised $10.3 million in a private offering of equity Form D: 10 investors so far Form D
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 17SEC EDGARJohn L. Hastings Iii., President
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- 20SEC EDGARChad Olsen, Chief financial officer
- 21SEC EDGARBlake Rigby, Chief financial officer
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- 28SEC EDGARDerek Cassell, Board member
- 29SEC EDGARDenver Johnson Smith, Board member
- 30SEC EDGARJacob James Saour, Board member
- 31SEC EDGARKyle Thomas Kidd, Board member
- 32SEC EDGARMatthew Scott Powalski, Board member
- 33SEC EDGARKarim Sehnaoui, Board member
- 34SEC EDGARKaren M. Ferguson, Board member
- 35SEC EDGARCharles Eric Rosenblum, Board member
- 36SEC EDGARDaele Dirk Karel Van, Board member
- 37SEC EDGARDavid S. Boone, Board member
- 38SEC EDGARWinfried Kunz, Board member
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- 40SEC EDGARRene Klinkhammer, Board member
- 41SEC EDGAREdgar Bernardi, Board member
- 42SEC EDGARLawrence G. Schafran, Board member
- 43SEC EDGARDavid Patrick Hanlon, Board member
- 44SEC EDGARRobert Childers, Board member
- 45SEC EDGARPeter McCall, Board member
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