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TransAct Technologies reported preliminary financial results for the first quarter of 2024, highlighting net sales of $10.7 million, a 52% decrease from the same period in 2023 due to market dynamics. The company also reported FST recurring revenue of $2.4 million, a 3% increase from 2023. However, gross profit decreased to $5.6 million with a gross margin of 52.6%. Operating income was a loss of $(1.3) million, and net loss was $(1.0) million. EBITDA and Adjusted EBITDA were negative as well. TransAct Technologies expects full-year 2024 total net sales between $45 million and $50 million and adjusted EBITDA between negative $2.5 million and negative $3.5 million.
TransAct Technologies (TACT), a global leader in software-driven technology and printing solutions, will release its first quarter 2024 results on May 7, 2024. The company will host a conference call and webcast at 8:30 p.m. ET on the same day. Interested parties can access the call and webcast online or via phone.