Troika Media Group Inc. (TRKA) stock prices were up by 8.05% as of the market closing on October 19th, 2021. This brought the price per share up to USD$1.61. Subsequent premarket fluctuations saw the stock surge by 27.95%, bringing it up to USD$2.02.
Revenue Breakdown
Revenues for the fiscal year 2021, ended June 30th, 2021, were reported in the amount of USD$16.2 million. This represents a 34% decrease from the USD$24.6 million from the prior-year quarter. TRKA stock attributes this year-over-year decrease in revenue to the pandemic that resulted in a mandatory stay-at-home orders, a prohibition of live events, and social distancing. These measures had an adverse impact on the company’s promotional and experiential business. Close to the end of the fourth quarter of 2021, however, the company reported seeing substantial improvements in client activities, with sports, entertainment, and pharma clients contracting for services across the company’s various entities at rates similar to pre-pandemic 2019 levels.
Solid Liquidity Position
TRKA stock reported a solid liquidity position as of the end of the fiscal 2021 year, ended June 30th, 2021. The company reported cash and cash equivalents in the amount of USD$12.1 million, comparable to the USD$1.1 million reported as of December 31st, 2020. The quarterly increase was largely driven by the generation of proceeds from the company’s IPO on April 22nd, 2021. The liquidity position was offset by the cash used in operations over the course of the 12 month period ended June 30th 2021.
About TRKA Stock
The company is an end-to-end brand solutions company that aims to create both near-term and long-term value for global brands in entertainment, sports, and consumer products. TRKA stock helps brands deepens engagement with audiences and fans throughout the consumer journey and build brand equity. This is facilitated by the application of emerging technology, data science, and world-class creative. The company boasts major global clients including, but not limited to, Apple, Hulu, Riot Games, Belvedere Vodka, Unilever, UFC, Peloton, CNN, HBO, ESPN, Wynn Resorts and Casinos, Tiffany and Co., IMAX, Netflix, Sony, Yahoo, and Coca-Cola.
Future Outlook for TRKA Stock
The company is keen to maintain the momentum generated over the course of the fiscal 2021 year. TRKA stock is taking steps to ensure it continues its trajectory of success in a bid to usher in unprecedented growth. Current and potential investors are hopeful that management will be able to effectively leverage the resources at their disposal. This is hoped to facilitate significant and sustained increases in shareholder value.
