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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 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.
TransAct Technologies Incorporated (NASDAQ: TACT) announced the appointment of Gaurav Bahri as Chief Revenue Officer for the Food Service Technology market, effective March 21, 2022. Mr. Bahri brings significant experience from Workday and Oracle America, focusing on sales leadership and revenue growth. Bart Shuldman, Chairman and CEO, expressed enthusiasm for Bahri's expertise in enterprise software, believing it will enhance the company’s marketing and sales strategies, particularly for the BOHA! brand.
TransAct Technologies (TACT) reported Q4 2021 net sales of $11.1 million, a 43% increase from Q4 2020. Full year 2021 net sales were $39.4 million, up 29% year-over-year. FST recurring revenue surged 95% to $7.4 million for the year. Despite a gross profit increase, operating loss widened to $(9.5 million) for 2021. The total number of paid terminals reached 9,818, reflecting a 73% growth from the previous year. The company cited strong demand for its products amidst challenging market conditions.
TransAct Technologies (TACT) announced notable success in its SMB initiatives, with 26 new accounts adopting the BOHA! system, encompassing 44 terminals. This growth represents a potential for up to 900 additional terminals in the future. TransAct's BOHA! platform integrates various applications to enhance food service operations. CEO Bart C. Shuldman emphasized the SMB team's focus on delivering personalized solutions to small businesses, highlighting the ongoing demand for the BOHA! technology.
TransAct Technologies Incorporated (NASDAQ: TACT) will announce its fourth quarter and full year 2021 results on March 9, 2022, after market close. A conference call will take place at 4:30 p.m. ET that day, open to the public via telephone and webcast. Interested parties can join the call by dialing 1-888-204-4368 (conference ID: 5263759). An archived version of the webcast will be available for replay afterward. TransAct is renowned for software-driven technology in sectors like food service and gaming, with over 3.3 million printers sold globally.
TransAct Technologies (NASDAQ: TACT) announced it received a nomination notice for two candidates for election to its Board of Directors at the upcoming 2022 Annual Meeting of Stockholders. No stockholder action is required at this time. The Company aims to sustain open communication with 325 Capital and Harbert Management Corporation, focusing on enhancing shareholder value. The Board will evaluate the nominations and provide a formal recommendation in the definitive proxy materials to be filed with the SEC.
TransAct Technologies (TACT) announced that CEO Bart Shuldman will present at the ICR Conference 2022 on January 10, 2022, at 4:30 PM ET. The presentation will be available via webcast on the company's investor relations website. TransAct is recognized for its software-driven technology and printing solutions across several high-growth markets, with over 3.3 million products sold globally. Additionally, one-on-one meetings will be held on the same day.
TransAct Technologies (TACT) reported third quarter 2021 net sales of $10.6 million, marking a 46% increase year-over-year. Recurring revenue from Food Service Technology (FST) was $2.0 million, up 28% from 2020. The company added over 3,000 paid terminals, reaching a total of 8,749. Notably, sales in the casino and gaming sector surged 100% to $4 million. However, operating loss rose to $(1.6) million compared to $(1.5) million the previous year, and the adjusted net loss was $(1.3) million.
TransAct Technologies (NASDAQ: TACT) announced the release of its third quarter 2021 results after market close on November 9, 2021. A conference call and webcast will follow at 4:30 p.m. ET, open to the public. Participants can join by calling 1-800-458-4121 with conference ID 8161388. The webcast will be available on their Investor Relations page, with a replay option available until November 23, 2021.
TransAct is recognized for its software-driven technology and printing solutions in sectors like food service and gaming.
TransAct Technologies (Nasdaq: TACT) is set to showcase its innovative BOHA! Work Station and software at the National Association of Convenience Stores (NACS 2021) event in Chicago from October 5-8, 2021. The BOHA! solution is designed to optimize fresh food operations in convenience stores with FDA-compliant labeling, digital food safety, and inventory management. CEO Bart C. Shuldman highlighted the adaptability of BOHA! for customer needs, aiming to reduce compliance costs and improve operational efficiency.