TRAK Stock: Insider Activity, Filings & Research

ReposiTrak, Inc. (TRAK) — Drillr’s hub for TRAK insider activity, SEC filings, earnings signals and AI research. Over the trailing 3 months, TRAK insiders filed 0 open-market buys and 3 sales (SEC Form 4).

Sentiment

0/100

Buys (3m)

Sells (3m)

Net (3m)

-$122.7K

Insider trades by month Buys Sells

Oct

Nov

Dec

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Feb

Mar

Context3-month price +15.8%

Date	Insider	Type	Shares	Price
Mar 23, 2026	FIELDS RANDALL Kdirector, 10 percent owner, officer: CHIEF EXECUTIVE OFFICER	Sell	7,500	$8.06
Mar 16, 2026	FIELDS RANDALL Kdirector, 10 percent owner, officer: CHIEF EXECUTIVE OFFICER	Sell	4,000	$8.06
Mar 11, 2026	FIELDS RANDALL Kdirector, 10 percent owner, officer: CHIEF EXECUTIVE OFFICER	Sell	3,500	$8.56
Mar 4, 2026	FIELDS RANDALL Kdirector, 10 percent owner, officer: CHIEF EXECUTIVE OFFICER	Sell	2,500	$8.75
Feb 26, 2026	FIELDS RANDALL Kdirector, 10 percent owner, officer: CHIEF EXECUTIVE OFFICER	Sell	2,200	$8.50
Feb 26, 2026	FIELDS RANDALL Kdirector, 10 percent owner, officer: CHIEF EXECUTIVE OFFICER	Sell	5,300	$8.34
Feb 20, 2026	FIELDS RANDALL Kdirector, 10 percent owner, officer: CHIEF EXECUTIVE OFFICER	Sell	3,000	$8.82
Feb 20, 2026	FIELDS RANDALL Kdirector, 10 percent owner, officer: CHIEF EXECUTIVE OFFICER	Sell	4,500	$9.07
Feb 10, 2026	FIELDS RANDALL Kdirector, 10 percent owner, officer: CHIEF EXECUTIVE OFFICER	Sell	4,500	$10.62
Feb 10, 2026	FIELDS RANDALL Kdirector, 10 percent owner, officer: CHIEF EXECUTIVE OFFICER	Sell	3,000	$10.48
Feb 4, 2026	FIELDS RANDALL Kdirector, 10 percent owner, officer: CHIEF EXECUTIVE OFFICER	Sell	5,000	$10.47
Feb 4, 2026	FIELDS RANDALL Kdirector, 10 percent owner, officer: CHIEF EXECUTIVE OFFICER	Sell	2,500	$11.01
Jan 27, 2026	FIELDS RANDALL Kdirector, 10 percent owner, officer: CHIEF EXECUTIVE OFFICER	Sell	7,500	$11.07
Jan 22, 2026	FIELDS RANDALL Kdirector, 10 percent owner, officer: CHIEF EXECUTIVE OFFICER	Sell	5,000	$10.91
Jan 22, 2026	FIELDS RANDALL Kdirector, 10 percent owner, officer: CHIEF EXECUTIVE OFFICER	Sell	2,500	$10.97

Source: TRAK SEC Form 4 filings, latest Mar 23, 2026. For informational purposes only — not investment advice.

Overview

ReposiTrak, Inc. (NASDAQ: TRAK) is a software-as-a-service provider founded in 1999 and headquartered in Murray, Utah. Originally known as Park City Group, Inc., the company rebranded to ReposiTrak in December 2023 to better reflect its focus on supply chain compliance and traceability solutions. The company has evolved from a traditional software provider into a specialized SaaS platform serving the grocery retail industry, with particular emphasis on food safety compliance and supply chain transparency driven by regulatory requirements such as the FDA's Food Safety Modernization Act.

Business

ReposiTrak operates in the supply chain management software industry, specifically targeting the grocery retail sector with compliance and traceability solutions. The company's core business revolves around three main product categories that generate nearly 100% recurring revenue. The flagship offering is ReposiTrak MarketPlace, a supplier discovery and business-to-business e-commerce platform that connects retailers with suppliers and facilitates procurement processes. This platform serves as a digital marketplace where grocery retailers can identify, evaluate, and engage with potential suppliers while managing their vendor relationships. ReposiTrak Compliance and Food Safety solutions represent the company's fastest-growing segment, designed to help retailers and suppliers meet regulatory requirements and reduce legal risks in their supply chains. These solutions have become increasingly critical as the FDA implements stricter food traceability requirements under the Food Safety Modernization Act (FSMA) Rule 204, which mandates comprehensive tracking of certain high-risk foods from farm to store. The company also provides ReposiTrak Supply Chain solutions, which include various inventory and relationship management tools such as ScoreTracker, Vendor Managed Inventory, Store Level Ordering and Replenishment, Enterprise Supply Chain Planning, Fresh Market Manager, Audit Management, and ActionManager. These solutions help retailers optimize their supply chain operations, manage inventory levels, and coordinate with suppliers more effectively. Currently, traceability solutions represent approximately 5% of annual recurring revenue but are experiencing rapid growth, with management projecting this segment could reach $20 million in annual recurring revenue as regulatory compliance requirements expand across the entire food supply chain.

Revenue model

ReposiTrak operates on a software-as-a-service subscription model, generating nearly 100% of its revenue from recurring subscriptions rather than one-time software sales. The company charges its customers monthly or annual subscription fees for access to its various platform solutions, with pricing typically based on the number of users, suppliers, or transaction volume processed through the system. The primary paying customers are multi-store retail chains, wholesalers, distributors, and their suppliers in the grocery, convenience store, and specialty retail industries. Major customers include large grocery chains like Kroger, which has mandated traceability compliance for all food suppliers by June 2025, creating significant demand for ReposiTrak's services. The company's business model benefits from several factors that can increase margins. The regulatory environment, particularly FDA food safety requirements, creates mandatory demand for compliance solutions, reducing price sensitivity among customers. The network effects of the traceability platform become stronger as more suppliers and retailers join, creating switching costs and improving retention. Additionally, the company's focus on automation and operational efficiency allows it to scale revenue without proportional increases in headcount, currently generating approximately $300,000 in recurring revenue per employee. However, several factors could pressure margins. Economic downturns may cause customers to delay technology investments or consolidate suppliers, potentially reducing transaction volumes. Increased competition from larger enterprise software providers could pressure pricing. The company also faces ongoing costs related to regulatory compliance and platform security requirements. Customer concentration risk exists, as the loss of major retail customers could significantly impact revenue, though the recurring nature of the business provides some stability.

Competitive moat

ReposiTrak's competitive moat is moderately strong and primarily built on regulatory compliance requirements and network effects, though it faces potential vulnerabilities from larger competitors. The company's strongest defensive position comes from the mandatory nature of food safety compliance, particularly as FDA regulations become more stringent. Once retailers and suppliers implement ReposiTrak's traceability solutions to meet regulatory requirements, switching costs become significant due to the complexity of data migration and the need for continuous compliance documentation. The network effects of ReposiTrak's platform create additional defensive value. As more suppliers join the traceability network to serve existing retail customers, the platform becomes more valuable to both retailers and suppliers, creating a self-reinforcing cycle. The company currently has nearly 10,000 suppliers in its onboarding queue, demonstrating the growing network density. However, the moat faces several potential threats. Large enterprise software companies like Oracle, SAP, or Microsoft could develop competing solutions and leverage their existing customer relationships and superior resources to capture market share. The relatively specialized nature of food traceability, while providing focus, also limits the total addressable market and makes the company vulnerable to technological disruption or changes in regulatory requirements. The company's small size, while enabling agility, also means limited resources for research and development compared to larger competitors. Additionally, if regulatory requirements change or if the FDA delays implementation of traceability mandates, demand for ReposiTrak's solutions could decrease significantly. The moat is therefore dependent on continued regulatory pressure and the company's ability to maintain its technological edge and customer relationships in a potentially competitive landscape.

Risks & safety

ReposiTrak demonstrates a strong margin of safety with excellent financial health and conservative valuation metrics, though growth expectations are reflected in current pricing. • Liquidity and Solvency: The company maintains exceptional financial strength with $28.1 million in cash and short-term investments, zero bank debt, and a current ratio of 6.0x. Free cash flow generation is consistently positive at $1.4 million quarterly, providing substantial financial flexibility. • Valuation Metrics: Current valuation appears elevated with P/E ratio of 47x and EV/EBITDA of 40x, reflecting high growth expectations for the traceability business. Price-to-book ratio of 7.6x indicates premium valuation relative to tangible assets. • Other Considerations: The company generates strong returns on equity at 4% quarterly, maintains 99%+ recurring revenue providing predictable cash flows, and continues returning capital through dividends and share buybacks. However, the high valuation multiples suggest limited margin of safety at current prices unless the traceability opportunity materializes as projected.

Recent development

Over the past two years, ReposiTrak has undergone a significant strategic transformation focused on capitalizing on the food traceability opportunity created by FDA regulatory requirements. The company has pivoted from a traditional supply chain software provider to a specialized compliance and traceability platform, with this segment growing from 1-2% of revenue to 5% currently. The most significant development has been the rapid scaling of the ReposiTrak Traceability Network (RTN), which has grown from zero suppliers in April 2023 to nearly 10,000 suppliers in the onboarding queue by late 2024. This explosive growth has been driven by major retailers like Kroger mandating traceability compliance for all food suppliers, expanding beyond the FDA's initial requirements to cover all food products rather than just high-risk items. The company has dramatically improved its operational capabilities, increasing supplier onboarding capacity from 2 suppliers per week in early 2023 to 50-70 suppliers per week currently, with projections to reach 500-1,000 suppliers per week within six months through automation and process improvements. This scaling has been accompanied by strategic customer pruning, eliminating approximately $1 million in low-opportunity revenue to focus resources on the traceability opportunity. ReposiTrak has also strengthened its capital allocation strategy, implementing a quarterly dividend program, continuing share buyback programs, and redeeming preferred stock. The company completed a rebranding from Park City Group to ReposiTrak in December 2023 and uplisted from NASDAQ to the New York Stock Exchange, reflecting its evolution and growth ambitions. Management has increased sales and marketing spending by 25% to build awareness of traceability solutions while maintaining focus on operational efficiency and automation to support scaling without proportional headcount increases.

TRAK company profile · for informational purposes only — not investment advice.

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