TRAK — what changed in the latest 10-K

Text added vs the prior filing · source: 10-K · 2026-09-28

• Our investment in and commercial relationship with SPAR Group, Inc. (“SPAR”), as well as our obligations under indebtedness incurred in connection with a portion of our investment, may not generate the returns or benefits we anticipate and expose us to additional risks.

• As of June 30, 2026, we beneficially owned approximately 14.8% of SPAR’s outstanding common stock. Based on the facts and circumstances existing at that time, including our lack of control or significant influence over SPAR’s operating and financial policies, our investment was accounted for at fair…

• Risks Related to Our Equity Investment. Our investment in SPAR is subject to risks associated with an equity investment in a publicly traded company, including fluctuations in the market price and liquidity of SPAR’s common stock and risks relating to SPAR’s business, financial condition and results…

• Although we beneficially own a significant minority interest in SPAR, we do not control SPAR or its board of directors or management. Accordingly, SPAR may make strategic, operational, financing or capital allocation decisions with which we disagree or that adversely affect the value of our investme…

• Our increased ownership interest also may affect the accounting treatment of our investment. As a result of the increase in our ownership interest, we are evaluating whether we have the ability to exercise significant influence over SPAR and, therefore, whether our investment should be accounted for…

Text added vs the prior filing · source: 10-K · 2026-09-28

• In December 2023, the FASB issued ASU 2023-09 (ASC Topic 740), Improvements to Income Tax Disclosures, which requires incremental income tax disclosures that increase the transparency and usefulness of income tax disclosures. The updated disclosures primarily require specific categories and greater …

• During the fiscal year ended June 30, 2026, the Company generated revenue of $23.3 million, compared with $22.6 million for the fiscal year ended June 30, 2025, representing an increase of approximately 3%. The increase in revenue was primarily attributable to growth in recurring subscription revenu…

• Demand for the Company’s subscription-based services continues to be influenced by increased regulatory requirements, food safety and traceability initiatives, and greater demand for transparency throughout the food supply chain. These factors have increased the compliance, documentation and traceab…

• The Company continues to focus its sales and marketing efforts on recurring subscription-based software services while placing less emphasis on non-recurring transactional revenue. Certain customers may, from time to time, elect to purchase specific services or licenses on a non-recurring basis. Acc…

• Cost of services and product support was $3.3 million, or 14% of total revenue, for the fiscal year ended June 30, 2026, compared with $3.7 million, or 16% of total revenue, for the fiscal year ended June 30, 2025, representing a decrease of approximately 10%. The decrease was primarily attributable…

Text removed vs the prior filing · source: 10-K · 2025-09-29

• Effective July 1, 2018, we adopted the Financial Accounting Standards Board’s (“FASB”) Accounting Standards Update (“ASU”) 2014-09: Revenue from Contracts with Customers (Topic 606), and its related amendments (“ASU 2014-09”). ASU 2014-09 provides a unified model to determine when and how revenue is…

• ASU 2014-09 represents a change in the accounting model utilized for the recognition of revenue and certain expense arising from contracts with customers. We adopted ASU 2014-09 using a “modified retrospective” approach and, accordingly, revenue and expense totals for all periods before July 1, 2018…

• To supplement our financial statements, historically we have provided investors with adjusted EBITDA and non-GAAP income per share, both of which are non-GAAP financial measures. We believe that these non-GAAP measures may provide useful information regarding certain financial and business trends re…

• These non-GAAP measures should not be considered a substitute for, or superior to, financial measures calculated in accordance with generally accepted accounting principles in the U.S. (“GAAP”). These non-GAAP financial measures exclude significant expenses and income that are required by GAAP to be…

• In December 2023, the FASB issued ASU 2023-09 (ASC Topic 740), Improvements to Income Tax Disclosures. This ASU requires disaggregated income tax disclosures on the rate reconciliation and income taxes paid. The Company is required to adopt this guidance for its annual reporting in fiscal year 2026 …