TransAct Receives U.S. Approval for BOHA! Terminal 2 from Leading QSR

Rhea-AI Summary

TransAct Technologies Incorporated (TACT) gains approval from a leading QSR to sell its newest BOHA! Terminal 2 to the U.S. domestic market, representing an opportunity of more than 10,000 locations. The company began shipping pre-orders and stocking orders in the U.S. and multiple international markets before the end of 2023. This follows previously announced overseas approval on the Company’s Third Quarter 2023 earnings call. TransAct has expanded the capabilities of BOHA! from supporting just three languages to supporting over ten, giving the company the ability to distribute BOHA! T2 in fifteen countries. Positive reactions and pre-orders have been received from the operator community in both the U.S. and abroad, presenting an exciting opportunity as the company enters 2024.

Market Research Analyst

The approval of TransAct Technologies Incorporated's BOHA! Terminal 2 by a leading QSR for use in the U.S. domestic market is a significant development for the company. The potential market opportunity spans over 10,000 locations, which can substantially increase the company's revenue base and market penetration. The early shipping of pre-orders and stocking orders indicates a proactive supply chain strategy, likely to cement customer relationships and enhance brand reliability.

Given the expansion of BOHA!'s language capabilities from three to over ten languages, TransAct is poised to cater to a broader international audience. This strategic move not only diversifies their customer base but also mitigates risks associated with market concentration. The positive reception of pre-orders suggests a strong market demand, which could lead to increased sales volumes and potentially improve the company's financial outlook.

Investors should monitor the adoption rate of the BOHA! Terminal 2 across the 10,000 locations, as it could serve as a leading indicator of the company's growth trajectory. Additionally, the expansion into fifteen countries represents a significant increase in TransAct's global footprint, potentially leading to further international business opportunities.

Financial Analyst

The announcement by TransAct Technologies Incorporated regarding the approval and distribution of their BOHA! Terminal 2 is likely to have a positive impact on the company's financial performance. The readiness to ship pre-orders and stocking orders before the end of 2023 indicates that TransAct is likely to see a revenue boost in the following quarters, which could positively affect the company's stock performance.

Investors should consider the scalability of the BOHA! Terminal 2 and the associated recurring revenue from software and services that accompany hardware sales. The expansion of language support is a strategic investment that could lower barriers to entry in international markets, potentially leading to a more stable and diversified revenue stream.

It is also crucial to analyze the cost implications of the global launch and the expanded language support, as these factors will influence the overall profitability. The company's ability to manage these costs effectively will be a key determinant of the financial success of this initiative.

Technology Industry Analyst

TransAct's expansion of the BOHA! Terminal 2 into the U.S. and multiple international markets demonstrates the company's innovation and adaptability within the technology and QSR industries. The enhancement of the BOHA! software to support over ten languages reflects an understanding of the need for localization in technology deployment, especially in the QSR sector where operational efficiency and customer experience are paramount.

The technology's ability to meet the operational execution and efficiency goals for a leading QSR brand is a testament to the product's design and functionality. The positive feedback from the operator community underscores the product's potential to become an industry standard. This could lead to further market share growth and set a precedent for future product iterations and innovations.

As TransAct rolls out the BOHA! Terminal 2, it will be important to monitor the technology's performance and customer satisfaction across different regions. The adaptation to various market needs and the subsequent feedback will provide valuable insights into the product's viability and the company's potential for sustained growth in the tech sector.

Pre-orders and Initial Stocking Orders Have Shipped

Follows Previously Announced Overseas Approvals

HAMDEN, Conn.--(BUSINESS WIRE)-- TransAct® Technologies Incorporated (Nasdaq: TACT) (“TransAct” or “the Company”), a global leader in software-driven technology and printing solutions for high growth markets, today announced that it has gained approval from a leading QSR to sell its newest BOHA!® Terminal 2 to the U.S. domestic market, which represents an opportunity of more than 10,000 locations. Based on the approvals, TransAct began shipping pre-orders and stocking orders in the U.S. and multiple international markets before the end of 2023. This announcement follows overseas approval which was previously announced on the Company’s Third Quarter 2023 earnings call.

“Our teams worked closely with this global customer to ensure the BOHA! Terminal 2 would meet their goals for flawless operational execution and improved efficiency throughout all of their locations,” said John Dillon, CEO of TransAct Technologies. “We are also excited to announce that to support this global launch, we have expanded the capabilities of BOHA! from supporting just three languages, to supporting over ten, giving TransAct the ability to distribute our BOHA! T2 in fifteen countries. We have already received very positive reactions and pre-orders from the operator community in both the U.S. and abroad, and are excited by this opportunity as we enter into 2024.”

About TransAct Technologies Incorporated 
TransAct Technologies Incorporated is a global leader in developing and selling software-driven technology and printing solutions for high-growth markets including food service, casino and gaming, and POS automation. The Company’s solutions are designed from the ground up based on customer requirements and are sold under the BOHA!®, AccuDate™, EPICENTRAL®, Epic® and Ithaca® brands. TransAct has sold over 3.6 million printers, terminals and other hardware devices around the world and is committed to providing world-class service, spare parts, and accessories to support its installed product base. Through the TransAct Services Group, the Company also provides customers with a complete range of supplies and consumable items both online at http://www.transactsupplies.com and through its direct sales team. TransAct is headquartered in Hamden, CT. For more information, please visit http://www.transact-tech.com or call (203) 859-6800.

TransAct®, BOHA!®, AccuDate™, Epic, EPICENTRAL™ and Ithaca® are trademarks of TransAct Technologies Incorporated. ©2023 TRANSACT Technologies Incorporated. All rights reserved.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240104051879/en/

Investor Contact:

Ryan Gardella

Ryan.Gardella@icrinc.com

Source: TransAct Technologies Incorporated

What is the company name and ticker symbol of the company mentioned in the PR?

The company mentioned in the PR is TransAct Technologies Incorporated, with the ticker symbol TACT.

What is the approval gained by TransAct Technologies Incorporated?

TransAct gained approval from a leading QSR to sell its newest BOHA! Terminal 2 to the U.S. domestic market, representing an opportunity of more than 10,000 locations.

What expansion has TransAct made for the BOHA! Terminal 2?

TransAct has expanded the capabilities of BOHA! from supporting just three languages to supporting over ten, giving the company the ability to distribute BOHA! T2 in fifteen countries.

What reactions and pre-orders have been received by TransAct?

The company has already received very positive reactions and pre-orders from the operator community in both the U.S. and abroad.

What was previously announced on the Company’s Third Quarter 2023 earnings call?

The previously announced overseas approval was mentioned on the Company’s Third Quarter 2023 earnings call.