Q3 Results Are Out! What is one of the most important things for a business today?
Supply chain management. With shortages happening left and right, making sure that as little product as possible goes to waste is becoming increasingly important. That's where TrackX comes in.
TrackX ($TKX) focuses on creating tracing, collaboration, and tracking solutions for companies to build a more sustainable, efficient, and resilient supply chain. And their track record shows that they do yield some solid results. They've worked with industry leaders like Pepsico, Tyson, Carvana, Penske, Polaris, GE Appliances, AbInBev, etc.
Yesterday $TKX announced Q3 results and things are looking good.
- Increased revenue by 59% to $728k from $428k in Q2
- Improved gross margin from 18% to 35%
- Software now accounts for nearly 73% of sales with setup/implementation being the other 27%. Compared to the last Q, which saw software as only 39% of revenue. “TrackX has continued to focus on higher-margin SaaS and license revenue while leveraging partners for hardware and implementation services.”
https://trackx.com/2021/08/31/trackx-reports-q3-2021-financial-results/
Overall, with the huge improvement in revenue, I expect next quarter to be even more impressive since they're still at the beginning of their growth. There could be something big in the works considering the massive volume over the past few days; I'll be holding my shares long and strong here. GLTA!