Troika Media Group Inc. (TRKA) stock hiked during after-hours, despite no current news.

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Troika Media Group Inc. (NASDAQ: TRKA) stock surged by 5.37% at last close while the TRKA stock price gained by 7.64% in the after-hours trading session. Troika Media Group is a full-service brand solutions provider that adds value to global companies in entertainment, sports, and consumer goods in the short and long term.

TRKA stock’ Financial Highlights

Troika Media Group recently announced its financial results for the Q1 fiscal year 2022. Given below is the summary:

  • In Q1 2022, revenue climbed by 102 percent to $8.3 million, compared to the same quarter the previous year.
  • In comparison to the first quarter of fiscal 2021, adjusted EBITDA increased by 78 percent to $(0.6) million in Q1 2022.
  • When compared to the first quarter of the fiscal year 2021, net loss improved 45 percent to $(2.1) million in Q1 2022.

Business Updates

  • Following COVID, the company will continue to focus on a strong growth strategy.
  • Expansion of the fast-growing gaming and Esports market.
  • Client spending and business mix are changing to areas with stronger growth potential: experience, consumer, and technology.
  • The number of new clients is returning to pre-pandemic levels.
  • In Q2 2022, the need for client services across brands remains strong, with an increasing pipeline.
  • Estimated top-line growth is well-positioned to be leveraged.
  • In fiscal 2022, strong net sales growth is likely to continue.

Robert Machinist, Troika’s Chairman, and CEO stated that,

They feel that their good performance goes well beyond a post-COVID rebound, as it was supported by wide-ranging contributions from all of the client industries. Clients are spending a lot of money on marketing, especially on digital and experiential efforts. TMG has established itself as a high-value partner, combining the creative spirit with the advantages of data and technology to build integrated solutions for clients across a variety of industries. The workers, who have managed to exhibit a high degree of dedication and support, to their clients and to one another are responsible for these remarkable outcomes.

They’re continuing to think about how they can enhance the growth strategy with a targeted and scalable M&A strategy that builds on current skills in growth areas like experience, commerce, and technology. Clients are searching for innovative and sustainable solutions that use new technology to build their businesses, thus they believe TMG has huge new growth potential.

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