Transact Tech Stock Price, News & Analysis

TransAct Technologies (NASDAQ: TACT) will release its Q2 2022 results on August 17, 2022, after market close. A conference call will follow at 4:30 PM ET, open to the public. Participants can call 201-389-0920, using conference ID 13732413, and are advised to connect ten minutes prior. The live webcast will be accessible at www.transact-tech.com. Archived versions will be available post-call until August 31. TransAct is a leader in software-driven technology for high-growth markets.

TransAct Technologies (NASDAQ: TACT) has announced the rescheduling of its second quarter 2022 financial results and conference call to no later than August 22, 2022. This change is due to a delay caused by the implementation of a new ERP system and a transition in its accounting method for inventory valuation. CEO Bart Shuldman stated that they are working diligently to resolve the issue in compliance with U.S. GAAP.

TransAct Technologies Incorporated (NASDAQ: TACT) will release its second quarter 2022 results on August 10, 2022, after market close. A conference call and webcast will follow at 4:30 p.m. ET, open to the public. Interested parties can join the call by dialing 856-344-9290 with conference ID 7379455, or tune in via the company's website. A replay of the call will be available for two weeks post-event. TransAct is a leader in software-driven technology and printing solutions across various high-growth markets.

TransAct Technologies (TACT) has secured its first BOHA! software enterprise license agreement covering 300 locations for a major foodservice operator. The five-year deal features an average revenue per unit of $950 annually and includes the purchase of 300 BOHA! WorkStation devices. The initial setup for 50 locations will start within three months, while the full rollout is expected within a year. This order marks a record for BOHA! WorkStations, doubling previous sales achievements.

CEO Bart C. Shuldman highlighted this agreement as a pivotal moment in transitioning to a SaaS-based model, showcasing strong demand for BOHA! solutions.

TransAct Technologies (Nasdaq: TACT) announced a significant order for 305 BOHA! Terminal devices from a national travel stop chain. This deployment is part of the customer's transformation plan and will generate approximately $1,100 in Annual Recurring Revenue Per Unit. The deployment includes the BOHA! Labeling software and proprietary labels across 194 locations, enhancing efficiency in food service management. CEO Bart C. Shuldman emphasized the company's commitment to capitalizing on new growth opportunities in the food service technology market.

TransAct Technologies (NASDAQ: TACT) has announced its largest BOHA! WorkStation order to date, securing 140 units for a new grocery market customer. This deployment, expected in Q3 2022, will generate an estimated annual recurring revenue of $1,000 per unit. The BOHA! platform integrates cloud-based applications for various food service operations, providing a comprehensive solution for back-of-house activities. TransAct aims to enhance customer operational efficiencies while tapping into the growing food service technology market.

TransAct Technologies reported a 17% increase in first-quarter net sales to $9.7 million compared to last year. The company's FST recurring revenue also rose by 30% to $1.6 million. Despite these growth metrics, the company faced challenges, with a gross profit decline leading to a gross margin of 30.9%, down from 38.4% the previous year. Operating loss widened to $(5.2) million, and the net loss was $(4.0) million or $(0.41 per diluted share. Paid terminals increased by 44% year-over-year, reaching 10,127.

TransAct Technologies (NASDAQ: TACT) will announce its Q1 2022 financial results after market close on May 10, 2022. A conference call and webcast will take place at 4:30 p.m. ET, accessible to the public. Participants can join the call by dialing 888-224-1005 (conference ID 3010012). The event can also be streamed live via the company's website. A replay of the call will be available starting two hours post-event until May 24, 2022. TransAct Technologies specializes in software-driven printing solutions for various high-growth sectors.

TransAct Technologies Incorporated (NASDAQ: TACT) has announced the appointment of Daniel Friedberg and Audrey Dunning to its Board of Directors as part of a Cooperation Agreement with 325 Capital and Harbert Discovery Fund. These investors own approximately 16.8% of TransAct's shares. The agreement also includes commitments to declassify the Board and separate the roles of Chairman and CEO. Bart C. Shuldman, CEO, emphasized the importance of stockholder communication and value creation, while Friedberg noted a focus on maximizing value for all stockholders.