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 Inc. (NASDAQ: TACT) is a global developer of software-driven technology and integrated printing solutions serving food service, casino and gaming, and POS automation markets. The TransAct news feed on Stock Titan aggregates company-issued updates, preliminary financial results, customer wins and product-related announcements so investors can follow how the business evolves over time.
Recent press releases highlight the company’s focus on food service technology (FST) and its BOHA!® platform, including deployments of BOHA! Terminal 2 and BOHA! Terminal 2 LTE with convenience store chains, a national sushi franchise operator and contract foodservice providers. News items describe how BOHA! Temp, BOHA! Checklist, BOHA! Sense and Grab ‘n Go Labeling software are being used to digitize back-of-house workflows, temperature tracking, equipment monitoring and labeling across distributed locations.
TransAct also regularly reports preliminary quarterly financial results, including net sales, FST recurring revenue, casino and gaming net sales, gross profit, operating income or loss, net income or loss, EBITDA and adjusted EBITDA. These releases often include management commentary on trends in FST and casino and gaming markets, as well as updated financial outlook ranges.
In addition, the news stream covers material agreements and strategic steps, such as the Source Code Purchase and Perpetual License Agreement with Avery Dennison for BOHA™ source code, and information about upcoming and completed earnings conference calls and webcasts. Investors and researchers can use this page to review historical announcements, monitor recurring themes in FST and gaming performance, and track how TransAct’s software-driven and printing solutions are adopted across its target markets.
TransAct Technologies (Nasdaq: TACT) has been chosen by Sky River Casino in Elk Grove, California, to supply its Epic Edge TITO printers for all slot machines on the casino's gaming floor. The casino aims to enhance the guest experience and selected the Epic Edge for its superior performance. This state-of-the-art printer features high-resolution output and supports new and legacy games, minimizing the need for multiple printer types. Sky River Casino, operated by Boyd Gaming, opened on August 16, 2022, and boasts a vast array of gaming options and dining establishments.
TransAct Technologies (Nasdaq: TACT) announced the launch of two new products at the Global Gaming Expo (G2E) 2022, taking place from October 11-13 in Las Vegas, Nevada. The company will unveil the Epicentral Mobile Host, an iOS solution allowing real-time player rewards, and the Epic 888, a versatile thermal roll printer. Additionally, TransAct will showcase its BOHA! foodservice technology suite. These innovations aim to enhance customer experience and operational efficiency in the gaming and food service industries.
TransAct Technologies (Nasdaq: TACT) will showcase its BOHA! suite at NACS 2022 in Las Vegas from October 2-4, targeting convenience store operators. BOHA! offers FDA-compliant solutions for labeling, food safety, and temperature monitoring, aiding stores in enhancing their fresh food programs. CEO Bart C. Shuldman noted that c-stores are increasingly competing with fast food brands, which can lead to significant profit margins. The exhibition will include demonstrations of on-demand printing and custom labeling capabilities.
TransAct Technologies reported a 35% increase in net sales for Q2 2022, reaching $12.6 million compared to $9.3 million in Q2 2021. FST recurring revenue also rose by 5% to $2.2 million. Despite these gains, the company's operating loss widened to $(3.0) million, up from $(2.7) million last year. Gross profit improved to $5.4 million with a gross margin of 43% compared to 36.8% previously. Paid terminals increased by 38% year-over-year, with projections for strong production and sales in the latter half of 2022.
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.