Technology geared to getting people around, covering the shortest ground from Point A to B, is getting more sophisticated all the time.
Los Angeles-headquartered GTX Corp. (OTC:GTXO) made waves Monday with an eye-popping set of financial numbers for its third quarter.
GTX is a pioneer in the field of wearable GPS, people and asset tracking Location-Based Services and Real-Time Location Systems, announced revenues of about $340,000 compared to approximately $195,000 for the comparable period in the prior-year for an increase of approximately $145,000, or 74%.
Gross profit margin for the three months ended September 30, 2019 was 89% compared to 77% for the three months ended September 30, 2018. This increase in margin is primarily due to the increase in higher margin IP licensing, Professional Services and subscription revenue during these periods.
Income from operations for the quarter came in at $73, 000, as compared to a loss of $227,000 for the comparable period in the prior year.
GTX is a U.S. military contractor and has multiple wearable tracking products sold through its online store, Amazon and authorized re-sellers and distributors servicing customers across the globe.
Shares in GTXO skyrocketed 67.9% to 94-100ths of a cent, on volume of 210,000
