Welcome to our dedicated page for Transact Tech news (Ticker: TACT), a resource for investors and traders seeking the latest updates and insights on Transact Tech stock.
TransAct Technologies Incorporated reports developments in software-driven technology and integrated printing solutions for foodservice, casino and gaming, and POS automation markets. Its news commonly centers on the BOHA! platform for foodservice operations, including SaaS-based applications, purpose-built terminals, food safety automation, recurring revenue, and related labels, supplies, and service offerings.
Company updates also cover EPIC and EPICENTRAL casino and gaming solutions used for ticket-in/ticket-out functionality and promotional capabilities, along with quarterly results, conference presentations, balance sheet commentary, product and platform strategy, and executive leadership changes.
TransAct Technologies (Nasdaq: TACT) plans an underwritten public offering of newly issued common stock, with a 30-day option for underwriters to purchase an additional 15%. The proceeds will be utilized for working capital, focusing on developing their food service technology and enhancing sales, marketing, and product development. Roth Capital Partners is the lead manager for the offering. A shelf registration statement effective since August 17, 2020, is in place for these shares. The offering's completion is subject to market conditions.
TransAct Technologies Incorporated (Nasdaq: TACT) announced that Miguel Ortiz, VP of Restaurant Products, will speak at the Restaurants RISE powered by MUFSO virtual event on October 13, 2020, at 2:00 p.m. ET. His session, titled “Boost Operational Excellence by Leveraging Back-of-House Technology,” will focus on enhancing food safety and operational excellence. Ortiz will discuss key areas including employee health, brand standards, and FDA compliance, alongside Nick Bouse from Love's Travel Stops, who will share insights on implementing the BOHA! platform to streamline operations.
TransAct Technologies (Nasdaq: TACT) reported preliminary financial results for Q3 2020, estimating net sales between $7.1 million and $7.3 million, surpassing prior expectations of $5.5 million to $6.0 million. This includes approximately $1.4 million to $1.5 million from Food Service Technology recurring revenue. The company had around 3,800 paid BOHA! terminals in the market, generating an average annual revenue per terminal of $1,470, an 88% increase from Q3 2019. Final results will be released on November 5, 2020.
TransAct Technologies (Nasdaq: TACT) launched the BOHA! Restaurant Operations Platform, enhancing efficiency for restaurant operators during challenging times. The platform integrates BOHA! hardware with software applications, enabling management of food safety and operational processes in one digital space. It features an iPad connected to a BOHA! Work Station for wireless printing of essential labels, designed to meet FDA requirements. Additionally, the BOHA! Control Center provides real-time analytics for improved operational oversight.