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TrackX Holdings Inc. (TKXHF)

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Previous Close0.0372
Open0.0410
Bid0.0000 x 0
Ask0.0000 x 0
Day's Range0.0410 - 0.0410
52 Week Range0.0123 - 0.0660
Volume55,773
Avg. Volume54,875
Market Cap3.449M
Beta (5Y Monthly)-0.20
PE Ratio (TTM)N/A
EPS (TTM)-0.0270
Earnings DateN/A
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  • TrackX Announces Enterprise-Wide Expansion  for Global Powersports Company
    GlobeNewswire

    TrackX Announces Enterprise-Wide Expansion for Global Powersports Company

    DENVER, Nov. 19, 2020 (GLOBE NEWSWIRE) -- TrackX Holdings Inc. (TSX.V:TKX | OTC:TKXHF | FRANKFURT:3TH) (“TrackX” or the “Company), a Software-as-a-Service (SaaS) based enterprise asset management and supply chain solutions provider, announces that it has entered Phase 2 of its Global Asset Management for Enterprises (GAME) implementation expanding its digital supply chain footprint to track and trace recreational vehicles for an existing U.S. customer that is a global leader in powersports vehicles.   In Phase 1, TrackX implemented its GAME solution platform for real-time tracking of R&D vehicles leveraging GPS technology. In Phase 2, the GAME platform provides integration with the customer’s existing core enterprise applications for a centralized source of vehicle tracking data and flow. The integration of GAME as the backbone to expand upon customer’s existing enterprise solutions will ensure that vehicle information is readily available throughout the enterprise to support critical business decision making. Within scope for phase 2 is also the expansion of the vehicle management solution across multiple household name brands for this customer.With the GAME solution deployed for real-time vehicle tracking and enterprise data integration, the customer is enabled with a comprehensive supply chain solution capability. In the future, it will be possible for the customer to leverage the GAME platform to automate other supply chain processes including returnable transport item management, supply tracking and management, operational task management, and shipping and receiving.“A solution partner that can deliver real-time supply chain visibility and efficiency at an enterprise level is essential in supporting the vehicle inventory demands of such an innovative powersports company with a diverse portfolio of best-in-class brands,” said Tim Harvie, TrackX CEO and President. “This expansion validates the value, capability and scalability of TrackX’s solutions with GAME providing a single source of record for real-time vehicle status, location, availability and other information necessary to support critical operational decision making ultimately leading to increased supply chain velocity.”About TrackXTrackX, Inc. (TSX.V: TKX), based in Denver, Colorado, is a supply chain solutions company leveraging multiple auto-ID and sensor technologies and an event driven software platform to provide transparency and velocity to the world’s most complex supply chains. TrackX’s Global Asset Management for Enterprises (GAME) platform enables the Industrial Internet of Things (IIoT) by providing unique item level tracking, workflow processing, event management, alerting and powerful analytics to deliver solutions across a growing number of industries. TrackX delivers significant value to a growing list of Fortune 500 companies in industries such as transportation, beverage, brewery, hi-tech, hospitality, mining, horticulture, manufacturing, and government.www.trackx.comFor more information, please contact: Gene McConnell, TrackX Holdings Inc. investor@trackx.com 303-325-7300Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. All statements that address future plans, activities, events or developments that the Company believes, expects or anticipates will or may occur including the Company’s anticipated pipeline and value of current and customer deployments and future opportunities are the managements best estimates and cannot be guaranteed or relied upon and is forward-looking information. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements in this news release, whether as a result of new information, future events or otherwise, except as required by law.

  • How Should Investors Feel About TrackX Holdings' (CVE:TKX) CEO Remuneration?
    Simply Wall St.

    How Should Investors Feel About TrackX Holdings' (CVE:TKX) CEO Remuneration?

    Tim Harvie has been the CEO of TrackX Holdings Inc. (CVE:TKX) since 2016, and this article will examine the...

  • GlobeNewswire

    TrackX Reports Third Quarter of Fiscal 2020

    DENVER, Sept. 01, 2020 (GLOBE NEWSWIRE) -- TrackX Holdings Inc. (TSX.V:TKX | OTC: TKXHF | FRANKFURT:3TH) (“TrackX” or the “Company), a Software-as-a-Service (SaaS)-based enterprise asset management solution provider, announces the financial and operational highlights from its third quarter of fiscal 2020 ended June 30, 2020. All results are reported in Canadian dollars unless otherwise specified. A complete set of the June 30, 2020 Consolidated Financial Statements and Management’s Discussion & Analysis has been filed on SEDAR (www.sedar.com). Financial Highlights for the 3-Months Ended June 30, 2020 * Gross margin of 69%, versus 39% for the same quarter last year; * Recurring revenue decreased by 47% over the previous year period to $402,492 due the reduction in yard management revenue resulting from the sale of that line of business to FourKites in Q2, 2020; * Adjusted EBITDA income of $241,050 in Q3 FY20 compared to a loss of $774,964 in Q3 FY19; * Net loss of $0.529 million ($0.01/share) in Q3 FY20 versus a net loss of $1.276 million ($0.02/share) in Q3 FY19 which includes amortization and depreciation of $0.592 million in the current quarter.Third Quarter FY20 Revenue Mix Revenue Q3 FY20Q3 FY19  Recurring39%54%  Hardware(2%)18%  Setup, implementation, and other fees63%26%  Services0%2%  TOTAL100%100% Operational Highlights for the 3-Months Ended June 30, 2020 * Following the sale of its yard management line of business in Q2 2020, the Company has continued to expand its partnership with FourKites, the Chicago-based creator of the predictive supply chain visibility category. Joint sales and marketing are driving additional pipeline activity, expected to result in additional revenue in subsequent quarters. * TrackX announced an initial three-year agreement to provide its supply chain and inventory management solutions to Shifflet Bros. Enterprises (“Shifflet”), a freight hauling provider servicing the electric utility industry. * For a global leader in powersports, TrackX completed the Phase 1 implementation of its Global Asset Management for Enterprises (GAME) solution for the tracking of recreational vehicles and has entered into discussions regarding a Phase 2 expansion. Management Commentary“For the nine-months ended June 30, 2020 (YTD 2020), revenues were $3,137,537 compared to $5,235,516 for the nine-months ended June 30, 2019 (YTD 2019), a decrease of $2,097,979 (40%), largely due to the sales of the yard management line of business to FourKites,” said CEO Tim Harvie. “Recurring revenue also decreased by $107,083 to $1,893,744 YTD 2020 compared to $2,000,827 YTD 2019, a 5% decrease. Hardware, implementation and other services revenues for YTD 2020 decreased to $1,243,793 from $2,812,611 YTD 2019, largely a result of the sale of the yard management business.   Additional decreases resulted from COVID-19 and the difficulty it created in gaining onsite access to customer locations and operating personnel to complete additional implementations. While the pandemic created some delays in progressing pipeline opportunities, it is expected that these delays will result in revenue in future quarters, depending on the extent and duration of the COVID-19 pandemic.”Harvie further states, “Net income during YTD 2020 was $891,311 compared to a net loss of ($3,407,381) in YTD 2019.  The main factor in achieving a net income for YTD 2020 from a net loss for YTD 2019 was the one-time gain on the sale of the Yard Management line of business to FourKites of $2,934,145.  Additionally, the gross margin increased from 40% YTD 2019 to 53% YTD 2020 as a result of a reduction in operating expenses and the reduction in hardware, implementation and other services revenue resulting from the sale of the yard business.”Selected Financial Information  C$(000s) (except per share) Three-month Period   Ended June 30    2020   2019    Revenue$1,030  $1,391    Gross Margin % 69%   39%    Income (loss) for the period($529)  ($1,276)    Income (loss) per share($0.01)  ($0.02)    Adjusted EBITDA Income (Loss)*$241  ($775)    * Adjusted EBITDA is a non-IFRS (international financial reporting standards) measure and excludes stock-based compensation Business Outlook The sale of the yard management line of business to FourKites has enabled TrackX to refine its focus on the delivery of repeatable, higher margin SaaS-based solutions targeting supply chain execution and returnable transport item management. With this refined focus, The Company will: * Gain better leverage from GAME’s enterprise workflow processing and analytics capability * Provide a lower cost of solution entry to customers * Reduce the necessity and the upfront expense of hardware infrastructure * Realize an increase in gross margin as fewer software customizations will be required * Reduce the complexity of solution pricing, resulting in shorter and more predictable sales cycles * Increase solution expansion opportunities within existing customers * Create additional leverage within its partner ecosystem with more repeatable solutionsRecent wins with companies like Shifflet Bros. Enterprises validate TrackX’s ability to leverage its IoT-enabled enterprise platform throughout the supply chain. In today’s world, companies are facing increased pressure to gain improved visibility and demonstrate corporate responsibility with respect to the source of materials, working conditions and carbon emissions. The rise of the digital supply chain will continue to create demand for solutions that can enable supply chain sustainability. With a proven, enterprise scalable, IOT hardware agnostic, supply chain platform, TrackX expects an increase in pipeline activity and opportunities to close more quickly as companies respond to COVID and return to more normal operations.   The Company has continued to focus on its land and expand strategy.  While COVID has delayed several implementations, TrackX has continued to see expansion of its industry solutions beyond the initial implementation to additional locations, new assets and additional business processes. As these expansion opportunities are implemented, the Company anticipates continued growth in recurring revenue, a core metric.TrackX’s has evolved its partner program and is placing much more focus on leveraging its existing partner ecosystem. Joint sales and marketing collaboration with these partners, and further expansion of the partner ecosystem with the addition of new partners, are expected to fuel additional growth in pipeline activity and higher margin recurring SaaS revenue.With a greater supply chain focus, GAME will continue to benefit from new feature enhancements, the majority of which will come from the automation of new business processes and analytics largely in response to customer feedback and demand. Other GAME enhancements will be driven by the integration with new technologies made available by a growing partner ecosystem.  The Company’s recent integration with blockchain creates further differentiation as the Company responds to customers seeking to achieve a greater degree of sustainability and accountability throughout their supply chains.About TrackXTrackX Holdings, Inc., based in Denver, Colorado, is an enterprise asset management company deploying SaaS-based solutions leveraging multiple auto-ID and sensor technologies for the comprehensive tracking and management of physical assets. TrackX's Global Asset Management for Enterprises (GAME) platform enables the Industrial Internet of Things (IIoT) by providing unique item level tracking, workflow processing, event management, alerting and powerful analytics to deliver solutions across a growing number of industries. TrackX delivers significant value to a growing list of Fortune 500 companies and for customers in industries such as transportation, beverage, brewery, hi-tech, hospitality, mining, agriculture, horticulture, manufacturing and government.For more information, please contact: Gene McConnell, TrackX Holdings Inc. investor@trackx.com303-325-7300Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. All statements that address future plans, activities, events or developments that the Company believes, expects or anticipates will or may occur including the Company’s anticipated pipeline and value of current and customer deployments and future opportunities are the managements best estimates and cannot be guaranteed or relied upon and is forward-looking information.  There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements in this news release, whether as a result of new information, future events or otherwise, except as required by law.