Transact Technologies Inc - TACT STOCK NEWS

TransAct Technologies (Nasdaq: TACT) announced preliminary financial results for Q2 2024, with net sales of $11.6M, a 9% sequential increase but a 42% decline YoY. The company sold 1,500 terminals, up 64% sequentially, and added 13 new customers to its BOHA! platform.

FST recurring revenue was $2.8M, up 15% sequentially and 12% YoY. The gross profit was $6.1M with a 52.7% margin. However, the operating loss was $(438)K, an improvement from Q1 2024's $(1.3)M loss, but down from Q2 2023's $1.2M income. Net loss stood at $(319)K, improving from $(1.0)M in Q1 2024 but down from $765K in Q2 2023. Adjusted net loss was $(319)K, compared to $2.2M adjusted net income YoY.

EBITDA was negative $190K, while adjusted EBITDA was $89K. For the full year 2024, TransAct expects net sales between $45M and $50M and adjusted EBITDA between negative $1M and negative $2M, improving from prior estimates.

TransAct Technologies (Nasdaq: TACT), a leader in software-driven technology and printing solutions for high-growth markets, has announced its plans to release second quarter 2024 results on August 8, 2024, after market close. The company will host a conference call and simultaneous webcast at 4:30 p.m. ET on the same day.

Investors and interested parties can access the call via phone (877-704-4453, conference ID: 13747949) or through the company's website. An archived version of the webcast will be available for replay, and a call replay will be accessible until August 22, 2024. This announcement provides shareholders and analysts an opportunity to review TransAct's financial performance and engage with management.

TransAct Technologies (Nasdaq: TACT) has announced that Jet Food Stores, a Georgia-based convenience store chain, has selected the BOHA! Terminal 2 for deployment across all 42 of its locations offering fresh food. The rollout, expected to be completed by September, will involve 47 BOHA! Terminals used for date code and Grab n' Go labeling. TransAct anticipates an Average Revenue Per Unit (ARPU) of approximately $1,500.

John Dillon, CEO of TransAct, emphasized that the BOHA! suite of products is ideal for businesses serving fresh food to go, helping reduce labor and waste across operations. The deployment at Jet Food Stores showcases the speed and flexibility of BOHA! Terminal 2, enabling employees to save time and maintain compliance with FDA labeling requirements.

TransAct Technologies (NASDAQ: TACT) has announced the successful deployment of its Epicentral® Promotion and Bonusing system across 200 games in two Macau resorts. This installation, for a leading casino operator, is the first in Asia for Epicentral®. The system, integrated with Epic Edge® and Epic 950® TITO printers, enhances player engagement by printing intelligent promotional offers directly at the gaming stations. This deployment aims to increase player spending, extend time-on-device, and boost customer loyalty, ultimately driving higher revenue for the casinos. John Dillon, CEO of TransAct, emphasized the system's strategic benefits for casino operators.

TransAct Technologies (Nasdaq: TACT) announced a significant international market win, selling BOHA!® Terminal 2 to 200 locations in Italy.

This marks the fifth international market for the BOHA!® Terminal 2, joining Canada, Germany, Poland, and Saudi Arabia. Italy represents an additional opportunity for up to 500 more sales. The product is also being tested in other countries, potentially reaching 3,500 new locations.

CEO John Dillon highlighted increasing recognition of BOHA!® Terminal 2's cost benefits and superior user experience, signaling a shift from competitors to TransAct's solutions.

TransAct Technologies (NASDAQ: TACT) has provided an update on its strategic business review, conducted with the help of Roth Capital Partners. The company is exploring various strategic alternatives, including potential sales or new growth strategies. An independent committee has been formed to evaluate these options. CEO John Dillon highlighted the stable growth prospects of the company's casino business and the expansion of its FST business, despite losing the 7-Eleven label business. Notably, a large global QSR client has procured over 1,000 units of their new BOHA! Terminal 2 this year. The company remains committed to both external strategic initiatives and internal operational improvements.

TransAct® Technologies Incorporated (Nasdaq: TACT) will showcase its BOHA!® suite at the National Restaurant Association Show 2024, featuring industry-leading hardware and software solutions for food service operations. The event, from May 18 to May 21, 2024, in Chicago, will highlight BOHA! products like date code labeling and temperature monitoring. The CEO highlighted the technology's role in enhancing efficiency and compliance in the evolving food service industry.

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.