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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) 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.
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.