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      Troika Media Group, Inc. (TRKA) Stock Surged 0.73% After-Hours, Here’s Why - Stocks Telegraph

      By Iqra Jamal

      Published on

      September 30, 2021

      7:09 AM UTC

      Troika Media Group, Inc. (TRKA) Stock Surged 0.73% After-Hours, Here’s Why - Stocks Telegraph

      Troika Media Group, Inc. (TRKA) stock soared 0.73% in the after-hours trading session at the price of $1.38 after reporting its fourth quarter and fiscal 2021 financial results.  TRKA is an international brand solutions company that produces long-term value for customers in the sports and entertainment industry. 

      TRKA Fourth Quarter and Fiscal 2021 Financial Results 

      On 29th September 2021, TRKA published financial results for its fourth quarter and fiscal year ended 30th June 2021.CEO of Troika, Robert Machinist, remarked that their fiscal 2021 financial results sustained the adverse impact of the challenging situation caused by the coronavirus pandemic. During the outbreak, many of their projects were put on hold that damaged their customer activity badly. Although, the company remained focused on maintaining high-quality services and relationships with its clients.

      TRKA executed a structural operating cost reduction program to reduce the expense base and grow margin growth. For fiscal 2022, the company anticipates improved revenue growth as their clients have resumed advertising and ad budgets are expanding. They are excited about the resumption of global financial activities as an integral part of their business, he concluded. 

      Fiscal 2021 Financial Summary 

      TRKA reported revenues of $16.2 million for the fiscal year ended 30th June 2021. It represents a drop of 34% from $24.6 million in the prior year period. Lower revenue resulted from the pandemic as lockdown, ban of live events, and social distancing adversely affected business growth.

      A net loss was ($16.0) million or ($1.03) per common share for the fiscal year ended 30th June 2021. The company reported a net loss of ($14.4) million or ($0.94) per common share during the previous year. Adjusted net loss was ($8.1 million), or ($0.52) per share for the fiscal ended 30th June 2021, compared to ($10.2) million, or ($0.66) per share, in fiscal 2020. 

      TRKA Fourth Quarter 2021 Results 

      For the fourth quarter ended 30th June 2021, TRKA reported revenues of $3.8 million. It represents a drop of 3% compared to $3.9 million in the three months ended 30th June 2020. Net loss was ($6.8) million or ($0.44) per share in the fourth quarter of 2021. During the same quarter of 2020, a net gain was $0.7 million or ($0.05) per share.

      Adjusted net loss was ($3.4) million, or ($0.22) per share in the fourth quarter ended 30th June 2021. The company reported a net gain of $0.7 million, or $.05 per share, in the fourth quarter ended 30th June 2020.  

      First Quarter Fiscal 2022 Sales Expectations 

      For the first quarter of fiscal 2022, TRKA expects an increment of approximately 60% in sales revenue from the prior year same quarter. 

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