May 21, 2015

TrackingPoint Stops Accepting Orders

The company is no longer accepting orders due to “financial difficulty.”

TrackingPoint, the Pflugerville, Texas-based maker of “Precision-Guided Firearms” that cost upwards of $10K, announced on its website that it is no longer accepting orders due to “financial difficulty.”

The statement on the website reads:

“Due to financial difficulty TrackingPoint will no longer be accepting orders. Thank you to our customers and loyal followers for sharing in our vision.”

Only three months ago, the company issued a statement about its fiscal-year 2014 that didn’t allude to the coming troubles. The statement read, in part, “Year-on-year unit growth was 281% and year on year bookings dollars grew 107%. The company believes it is the fastest growing gun company in the world….”

Frank Bruno, appointed as TrackingPoint’s CEO earlier this year, said in the February statement, ”We are excited with our growth and customer adoption rate. Precision-Guided Firearms are resonating with a big piece of the market. As we continue to innovate we believe our extraordinary growth will continue as well."

In that February 2015 financial release, the company then mentioned it was “now seeing growing demand and interest in its Precision-Guided Firearms from the defense sector. Testing performed at the U.S. Department of Defense's Yuma, Arizona proving grounds has shown that a typical Soldier performed significantly better than the military's elite marksmen when using TrackingPoint's Precision Guided Firearms.”

The company also announced an internal restructuring to ensure and accelerate future growth.

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