ReposiTrak
🔔 Watch stock
Assessment
Our Rating
A journalistic assessment by our editorial team at the time of the deep dive — it rates the company, not the entry point. Not investment advice and not a solicitation to buy or sell.
The business works in principle, but one material question is open. As long as it stays open, our findings do not carry a quality verdict.
Why this colour
Yellow, because the core business holds up — profitable, recurring revenue, almost no debt, no existential customer dependency — but a material operating question is open: whether the more than $8 million committed to the SPAR Group stake and its related loan turns out to be a smart strategic extension, or capital tied up exactly when a revenue-shrinking customer carrying two open Nasdaq deficiency notices needed extra liquidity most — one that actually got kicked off Nasdaq three days after ReposiTrak's own disclosure. Red would require more evidence — ReposiTrak itself reports no going-concern flag, no negative equity, and no signs of payment distress. Green would require more reliability: an unquantified, thinly explained capital decision in the exact quarter of the first revenue decline in nine quarters, and a communication pattern of announcing big numbers that quietly disappear later, both warrant extra scrutiny. The decision is yours.
What the thesis turns on
Assessment: Opportunities & Risks
ReposiTrak is a solid, profitable SaaS business with a proven operating track record — but the past six months show a management team pouring millions into an unrelated, struggling stake at the exact moment its own growth streak stumbled for the first time. The balance sheet remains healthy; the communication around the new bet has so far been thin. Not investment advice.
Business model & track record
B2B SaaS with recurring revenue, a diversified customer base (no customer above 10 percent of revenue), and a proven track record: the compliance business was genuinely scaled to more than a hundred thousand connected locations in the past.
Growth momentum
After nine straight quarters of growth (5.4 to 16.3 percent), revenue declined slightly for the first time in the quarter ended March 31, 2026 (-0.5 percent). The regulatory driver, FSMA 204, was delayed 30 months to July 2028 in March 2025.
Balance sheet & earnings quality
Cash and equity are strong ($26.4 million and $50.5 million as of March 31, 2026), essentially no bank debt. At the same time, operating cash flow fell 13 percent over the first nine months of fiscal 2026 even as reported operating income rose 28 percent.
SPAR Group stake
More than $8 million flowed between March and July 2026 into shares of and a loan to SPAR Group, Inc. and its subsidiary — a customer that carried a Nasdaq deficiency notice since January 2026 and a second since April 2026, was downgraded from Nasdaq to the OTC market three days after ReposiTrak's 31.4 percent stake was disclosed, and itself reports declining revenue and only $2.9 million in cash. Partly financed through an unsecured promissory note.
Management communication
Four earnings calls reviewed (2024-2026) show a pattern: a specific $20 million growth figure from 2024 was replaced in 2025 by a far more modest range and then vanished from the narrative without ever being confirmed or walked back. The new SPAR Group bet repeats the shape: a big announcement followed by "too early for KPIs."
Control structure
CEO Randall K. Fields controls 34 percent of common stock; all officers/directors together roughly 40 percent (fiscal 2025 Form 10-K). That aligns incentives with shareholders but also lets large capital decisions proceed effectively without meaningful pushback.
Worth Noting
Naming note: the company was named Park City Group, Inc. until December 21, 2023 (same SEC CIK, 0000050471). Older references under that name concern the same company.
As-of dates: balance sheet and earnings figures come from the fiscal 2025 Form 10-K (filed September 29, 2025) and the Form 10-Q for the quarter ended March 31, 2026 (filed May 14, 2026). Price and valuation data are as of August 21-26, 2026.
The four earnings calls we reviewed come from SEC Exhibit 99.2 to the respective Form 8-K filings — ReposiTrak publishes full transcripts as part of its mandatory disclosures, so no third-party transcript source was needed.
Stock Watch
This analysis is as of August 29, 2026. Stock Watch will tell you what's changed at TRAK since then.
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Price history
Chart
Interactive price chart (TradingView).
52-week range: 7.20 $ to 17.80 $ · Last price: 8.50 $ (As of: September 17, 2026)
Key figures
Key figures at a glance
Every figure we hold for this stock, grouped by topic. The question mark next to a label explains what the number means.
Basics
Performance
Technical Indicators
Calculated from the price history · as of 09/18/2026
Valuation
Profitability
Balance Sheet & Safety
Growth
Dividend
Quality & Screener
Highlighted are things our editorial team noticed: green = stands out as strong, red = deserves a closer look. No single metric is a verdict on its own — always read it in context.
Comparison
Industry comparison
The stock alongside the largest companies in the same group. The median row is the middle value of the companies shown above — not of the whole industry.
Industry: Software - Application
| Company | Market cap ($B) | P/E | EV/EBITDA | Gross Margin % | EBIT Margin % | Sales Growth (Year) % | Perf. 1Y % |
|---|---|---|---|---|---|---|---|
| ReposiTrak TRAK | 0.2 | 24.2 | 12.7 | 85.4 | – | 10.5 | -50.1 |
| Salesforce.com Inc CRM | 194.7 | 24.2 | 14.3 | 77.3 | 21.8 | 9.6 | 1.1 |
| Uber Technologies Inc UBER | 144.3 | 18.9 | 19.7 | 40.8 | 14.6 | 18.3 | -23.8 |
| ServiceNow Inc NOW | 138.5 | 82.3 | 40.2 | 74.8 | 13.3 | 20.9 | -27.2 |
| Snowflake Inc. SNOW | 115.4 | – | -76.6 | 67.0 | -22.2 | 29.2 | 55.3 |
| Automatic Data Processing Inc ADP | 108.8 | 25.1 | 16.4 | 48.7 | 30.2 | 7.1 | -3.0 |
| Adobe Systems Incorporated ADBE | 99.2 | 14.3 | 9.8 | 89.3 | 35.3 | 10.5 | -30.2 |
| Intuit Inc INTU | 86.0 | 20.0 | 12.2 | 81.0 | 47.0 | 15.6 | -52.2 |
| Datadog Inc DDOG | 84.3 | 631.8 | 268.8 | 79.5 | 0.8 | 27.7 | 75.8 |
| Median of companies shown | 108.8 | 24.2 | 14.3 | 77.3 | 18.2 | 15.6 | -23.8 |
Based on the most recently reported figures. Only stocks from the same trading venue are lined up, so the market caps are counted in one currency. Compare in a chart →
Fiscal years
Annual Figures
Fiscal years from the audited annual reports, oldest first. EBIT is the operating profit before interest and taxes; total assets are everything the company owns.
Revenue, operating income and net income per fiscal year $M
Revenue Operating income Net income
| Fiscal Year | Revenue ($M) | EBIT ($M) | Net Income ($M) | EPS ($) | Operating Cash Flow ($M) | Equity ($M) | Total Assets ($M) |
|---|---|---|---|---|---|---|---|
| 2016 | 14 | 1 | 1 | 0.03 | 1 | 31 | 39 |
| 2017 | 19 | 4 | 4 | 0.19 | 2 | 36 | 46 |
| 2018 | 22 | 4 | 3 | 0.17 | 2 | 40 | 49 |
| 2019 | 21 | 4 | 4 | 0.19 | 5 | 43 | 53 |
| 2020 | 20 | 1 | 2 | 0.08 | 4 | 43 | 53 |
| 2021 | 21 | 3 | 4 | 0.21 | 5 | 45 | 55 |
| 2022 | 18 | 4 | 4 | 0.21 | 6 | 43 | 49 |
| 2023 | 19 | 5 | 6 | 0.30 | 9 | 46 | 51 |
| 2024 | 20 | 5 | 6 | 0.31 | 7 | 47 | 52 |
| 2025 | 23 | 6 | 7 | 0.36 | 8 | 50 | 55 |
Quarters
Quarterly Figures
Each bar is one quarter, the last one is the most recent. Use the switch to step through the individual figures.
Revenue & Profit
Cash Flow
Balance Sheet
Margins
Per Share
Click the chart or tab into it, then use ← and → to step through the periods.
None of the selected stocks reports this metric. Pick another metric or switch between annual and quarterly.
· Total · per year
These companies report in different currencies — switch on “Indexed” or pick a margin for a fair comparison.
The figures could not be loaded right now.
Source: fundamental data
| Quarter | EPS (Earnings Per Share) | EPS YoY (%) | Sales ($M) | Sales YoY (%) | Net Margin (%) | OCF ($M) | FCF ($M) |
|---|---|---|---|---|---|---|---|
| 2024: Q4 | 0.09 | 6.90 | 6 | 7.10 | 28.20 | 4 | 4 |
| 2025: Q1 | 0.11 | 26.80 | 6 | 16.30 | 33.20 | 1 | 1 |
| 2025: Q2 | 0.10 | 13.80 | 6 | 11.10 | 31.20 | 2 | 2 |
| 2025: Q3 | 0.10 | 9.30 | 6 | 9.70 | 30.50 | 2 | 2 |
| 2025: Q4 | 0.09 | 8.70 | 6 | 6.70 | 28.80 | 2 | 2 |
| 2026: Q1 | 0.11 | 1.00 | 6 | -0.50 | 33.80 | 2 | 2 |
What Do These Terms Mean?
- EPS (Earnings Per Share):
- Quarterly profit divided by the total share count — how much of the profit works out to a single share.
- YoY (Year over Year):
- Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
- Sales:
- All revenue for the quarter, before any costs are deducted — the top line of the income statement.
- Net Margin:
- What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
- OCF (Operating Cash Flow):
- The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
- FCF (Free Cash Flow):
- Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.
Screening
Appears in These Scanners
This stock currently matches 3 of our scanner strategies — each hit links to the scanner.
Growth
Momentum & Trend
Research
Only genuine hits from verified scanners count; pure ranking metrics (P/E, P/S, and similar, which just sort the whole universe) don't count as a hit. View all scanners
Outlook
Analysts & Price Target
Combined picture of the price targets and recommendations of every analyst covering the stock. Price targets are expectations for the next 12 months, not promises — and they often follow the price rather than predict it.
Distribution of Recommendations
Estimates by Fiscal Year
| Fiscal Year | EPS Estimate ($) | EPS Range ($) | Revenue Estimate ($M) | Expected Growth | Analysts |
|---|---|---|---|---|---|
| 06/30/2027 | 0.43 | 0.43 – 0.43 | 26 | – | 1 |
Average of the analyst estimates for the coming fiscal years. The range shows how far the most optimistic and the most cautious estimate sit apart — the wider it is, the less certain the expectation.
Valuation
What is priced in?
Instead of guessing what the stock is worth, we turn the question around: what free cash flow growth has to happen for today’s market value to add up? The assumptions behind it can be moved.
Today’s market value implies roughly 8.4% growth in free cash flow per year over ten years (assumptions: discount rate 10.0%, terminal growth 2.5%).
| Free cash flow (last twelve months) | $7.5M |
|---|---|
| Market cap | $158.0M |
| Free cash flow in year ten | $16.8M |
| Terminal value as a share of market value | 56.1% |
For comparison: over the past five years free cash flow grew by 18.8% per year.
It shows which assumption is built into today’s price, not whether that assumption will hold. Every assumption can be changed with the sliders; the figures move with them.
A simplified model calculation — not a forecast and not a recommendation.
AI classification
AI Rating
Maschinelles Lernen steckt als patent-angemeldete Fehlerkorrektur in der verkauften Traceability-Plattform und die Firma nennt sich seit Mai 2026 selbst „AI-powered“ — einen eigenständigen KI-Umsatz weisen die Filings aber nicht aus, der Geschäftsbericht (10-K) GJ2025 erwähnt KI mit keinem Wort.
View the full file — quotes, sources, reviewed filings
„The first patent-pending technology relates to the use of advanced algorithms and machine learning techniques to identify inconsistencies, omissions, and inaccuracies within traceability datasets and to automatically correct such errors in real time."
Die erste zum Patent angemeldete Technologie nutzt fortgeschrittene Algorithmen und Techniken des maschinellen Lernens, um Widersprüche, Auslassungen und Fehler in Rückverfolgbarkeits-Datensätzen zu erkennen und in Echtzeit automatisch zu korrigieren.
10-Q · 2026-05-14 · View SEC filing
„ReposiTrak (NYSE: TRAK), an AI-powered, integrated supply chain platform"
ReposiTrak (NYSE: TRAK), eine KI-gestützte, integrierte Lieferketten-Plattform
8-K (Anlage 99.1, Ergebnismitteilung) · 2026-05-18 · View SEC filing
„We use our artificial intelligence tools to do this. It's extraordinarily robust and has the advantage that it not only identifies the errors, but it's able to correct them without bothering the supplier that created the data in the first place."
Wir nutzen dafür unsere Werkzeuge der künstlichen Intelligenz. Das System ist außerordentlich robust und erkennt Fehler nicht nur, sondern korrigiert sie, ohne den Lieferanten zu behelligen, der die Daten ursprünglich erzeugt hat.
8-K (Anlage 99.2, Call-Mitschrift) · 2026-02-19 · View SEC filing
Filings Reviewed: 10-K 2025-09-29 · 10-Q 2026-05-14 · 10-Q 2026-02-17 · 10-Q 2025-11-13 · 10-Q 2025-05-15 · 10-K 2024-09-30
Rated on August 26, 2026 · How the Rating Is Built
Growth
Growth Score
Ten checks against the annual reports — each one passed counts a point.
- Revenue grows by more than 15% a year over three years 7.8%
- More than 10% revenue growth is expected for the coming year 10.1%
- Share count grows by less than 3% a year -0.4%
- Revenue growth plus cash-flow margin add up to at least 40 ("Rule of 40") 47.7%
- Gross margin at 40% or higher and without meaningful erosion 83.7%
- Goodwill from acquisitions does not grow faster than revenue 37.7%
- Net debt below twice EBITDA 28 m net cash
- Operating cash flow covers the profits of the last three years 6 m
- Return on capital at 15% or higher, or up versus two years ago 12.5%
- Insiders hold at least 10% or are net buyers 33.7%
A criterion without figures counts neither as passed nor as failed; a score is only produced from 7 judgeable criteria upwards. Source: fundamental data. All ten criteria in detail
Quality check
AAQS
8/10The AAQS (AlleAktien Quality Score) checks 10 quality criteria on growth, profitability, and balance-sheet strength — per the methodology developed and published by AlleAktien, calculated by us from our own fundamental data. A stock counts as a quality stock from 9 out of 10 points. Where a company has a shorter listing history, we calculate over the fiscal years available (at least five).
- Sales growth 10Y > 5% 5.5%
- Exp. sales growth 3Y > 5% 15.0%
- EBIT growth 10Y > 5% 27.7%
- Exp. EBIT growth 3Y > 5% 17.9%
- Net debt < 4x EBIT -4.5x
- EBIT positive, 10Y straight 10
- Max. EBIT decline < 50% 62.9%
- Return on equity > 15% 24.5%
- ROCE > 15% 12.5%
- Expected return > 10% 24.2%
View stocks with the full AAQS score · Read the methodology at AlleAktien
Source: fundamental data
Insiders
Insider Transactions
Reportable transactions by officers and major shareholders from SEC Form 4 filings. "Other" includes things like stock grants and option exercises without a buy/sell character.
| Date | Person | Role | Type | Shares | Price | Value |
|---|---|---|---|---|---|---|
| Aug 18, 2026 | Merrill John R | CHIEF FINANCIAL OFFICER | Other | 75,000 | 0.00 | – |
The company
About the Company
ReposiTrak, Inc., ein Software-as-a-Service-Anbieter, betreibt eine B2B-Plattform für E-Commerce, Compliance und Rückverfolgbarkeit sowie Supply-Chain-Management in Nordamerika.
- Employees
- 69
- Headquarters
- Murray, UT
- Address
- 5282 South Commerce Drive, 84107 Murray, United States
- Phone
- 435 645 2000
- Website
- repositrak.com
- IPO Date
- 11/19/1998
- ISIN
- US7002153044
- Stock Split
- 1:50 on 08/11/2006
Management
| Name | Title | Birth Year |
|---|---|---|
| Randall K. Fields | Co-Founder, Chairman, President, CEO, COO & Head of Sales | 1947 |
| John R. Merrill | Chief Financial Officer | 1970 |
| Edward L. Clissold J.D. | General Counsel & Corporate Secretary | 1956 |
| Jozef Jamrich | Chief Technology Officer | – |
| Derek Hannum | Chief Customer Officer | – |
| Joe Meherg | Senior Vice President of Sales | – |
| Shaun Broadhead | Vice President of Development | – |
| Rob Fink | Investor Relations Professional | – |
Executives per the latest required filings; titles kept in their original language. Source: fundamental data.
Filings
Company Filings (8-K)
An 8-K is the filing a US company must use to disclose material events immediately — takeovers, changes at the top, major contracts or payment troubles, for instance. The links open the original document at the US Securities and Exchange Commission (SEC).
- 08/18/2026 ReposiTrak, Inc. (TRAK): Entry into a Material Definitive Agreement; Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers; Financial Statements and Exhibits SEC ↗
- 07/08/2026 ReposiTrak, Inc. (TRAK): Entry into a Material Definitive Agreement; Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant; Other Events; Financial Statements and Exhibits SEC ↗
Data as of: September 17, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.