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SALT LAKE CITY - ReposiTrak (NYSE:TRAK), a food safety technology company with a market capitalization of $335 million and impressive gross profit margins of 84%, has added 20 specialty, meat snack and plant-based food suppliers to its traceability network, the company announced Wednesday.
The new additions to the ReposiTrak Traceability Network include an artisan charcuterie producer from Salt Lake City, a Portland-based vegan cheese supplier previously featured on Shark Tank, and a direct-to-consumer provider of performance products and snacks. According to InvestingPro data, the company has maintained strong financial health with revenue growth of nearly 10% over the last twelve months.
These suppliers will use the network to exchange FDA-required Key Data Elements for each Critical Tracking Event in their supply chains, helping them meet retailer demands for greater food safety and transparency.
"All food suppliers are required to provide traceability data to some of the largest retailers and wholesalers in the industry," said Randy Fields, ReposiTrak Chairman and CEO. "We help them to make sense of their customers’ requirements and then cleanse their data so that it’s as complete and accurate as possible before it gets sent through the supply chain."
The ReposiTrak system operates without requiring additional hardware. Each traceability data file undergoes a 500-point error detection process, with the company’s U.S.-based team working with suppliers to make corrections before information reaches retail, wholesale or foodservice customers.
ReposiTrak describes itself as the largest food traceability and regulatory compliance network, offering solutions for food traceability, compliance, risk management and supply chain operations.
The information in this article is based on a company press release statement. InvestingPro analysis suggests the stock is currently trading above its Fair Value, with 13 additional ProTips available to subscribers, including detailed insights on the company’s financial health, profitability, and growth metrics.
In other recent news, ReposiTrak reported its third-quarter fiscal 2025 earnings, revealing a strong financial performance with earnings per share of $0.10, surpassing the forecast of $0.0844. The company’s revenue reached $5.9 million, slightly below the forecast of $5.85 million, but still marking a 16% year-over-year increase. ReposiTrak also announced a 10% increase in its quarterly cash dividend, raising it to $0.02 per share. This marks the third dividend increase in the past three years, reflecting the company’s solid financial performance and commitment to rewarding shareholders. Additionally, ReposiTrak has expanded its food traceability network by adding 31 cheese suppliers, aiming to meet increasing demands for food safety and transparency. The network will enable these suppliers to share traceability data with multiple retail, wholesale, and foodservice customers through a single platform. Analysts from FNK IR noted that ReposiTrak continues to focus on innovation and plans to double its historical revenue in the coming years. The company also mentioned its balanced capital allocation strategy, which includes returning 50% of its annual operating cash flow to shareholders.
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