- Troika Media Group, Inc (NASDAQ:TRKA) appointed Erica Naidrich as the CFO, effective immediately.
- Christopher Broderick, previously CFO and COO, will remain as COO.
- Before joining Troika Media Group, Naidrich served as VP of Accounting and Controller for Madison Square Garden Entertainment Corp (NYSE:MSGE).
- Troika recently reported third-quarter FY22 revenue growth of 307% year-on-year to $15.7 million.
- The acquisition of Converge, which closed on March 22, contributed $10.0 million to total Q3 revenue.
- Operating loss was $(13.7) million, an increase of $(8.1) million a year ago.
- Adjusted EBITDA loss improved from $(1.36) million to $(1.16) million.
- Troika held $42.4 million in cash and equivalents.
- "We are pleased with the 307% revenue increase in Q3 2022 as compared with the prior-year quarter. The performance is indicative of the continued recovery of the core brand and activation business post-Covid, and a very small example of the impact that the acquisition of Converge is anticipated to have on the Company's revenue once we are able to include a full quarter of Converge's performance," said Sid Toama, who became CEO on May 19.
- Price Action: TRKA shares traded higher by 12.10% at $0.98 on the last check Wednesday.
