Park City Group (NASDAQ: PCYG) reported a strong fiscal Q1 2020, with total revenue increasing by 9% to $5.23 million from $4.80 million in the prior year, driven by growth in MarketPlace and recurring SaaS revenues. GAAP net income surged 212% to $555,000, while net income to common shareholders rose to $408,000, or $0.02 EPS. Operating expenses slightly decreased by 1%. The company also highlighted growing opportunities in the government sector and a $2.9 million increase in net cash. The results signal strong performance amid pandemic challenges.
ReposiTrak, a leader in compliance and risk management, has reported a significant achievement with its Out-of-Stock (OOS) Management Solution. More than 80% of DSD vendors using this solution have experienced an average OOS reduction of 55%, resulting in year-over-year sales growth between 4% to 8%. This data, collected from over 12,000 stores across various retail formats, indicates that the technology has successfully optimized supply chain performance during the COVID-19 pandemic, demonstrating the increasing importance of technology in retail.
Park City Group, Inc. (NASDAQ: PCYG) reported fourth-quarter revenue of $5.8 million, a 24% increase year-over-year driven by higher MarketPlace and recurring SaaS revenues. GAAP net income reached $480,000, compared to $182,000 in the previous year, with EPS at $0.02 versus $0.00. Full-year revenue declined 5.3% to $20.0 million, attributed to one-time revenue from 2019. However, recurring revenue grew 13% year-over-year. The company's balance sheet remains strong, providing optimism for future growth despite challenges posed by the pandemic.