Welcome to our dedicated page for Transact Technologies news (Ticker: TACT), a resource for investors and traders seeking the latest updates and insights on Transact Technologies stock.
Transact Technologies Inc. (TACT) is a global leader in developing software-driven technology and printing solutions tailored to high-growth markets such as restaurant solutions, POS automation, casino and gaming, lottery, mobile, and oil and gas. The company's innovative products and services are designed to meet customer requirements and are marketed under renowned brands like AccuDate™, Epicentral®, Epic®, Ithaca®, Responder, and Printrex®.
With over 3.0 million printers and terminals installed worldwide, Transact Technologies is committed to providing exceptional service, spare parts, and accessories to support its extensive product base. The company’s headquarters are located in Hamden, CT.
Transact's product range includes hardware solutions like printers and terminals as well as software sold under the BOHA, AccuDate, Epic, EPICENTRAL, Ithaca, and Printrex brand names. Their software-driven solutions streamline operations in sectors such as restaurant and hospitality, banking, retail, casino and gaming, point of sale automation, lottery, medical, mobile, oil, and gas markets.
The casino and gaming industry is the primary revenue driver for Transact Technologies, followed by the food service technology market. The company operates in both the United States and international markets, with the bulk of its revenue generated from the United States.
The Transact Services Group enhances customer support by providing a comprehensive range of supplies and consumable items. This focus on customer support ensures that Transact remains a trusted name in the industry.
TransAct Technologies (Nasdaq: TACT) released preliminary financial results for Q3 2024, reporting net sales of $10.9 million, down 6% sequentially and 37% year-over-year. The company sold 1,355 BOHA! Terminals in the quarter and added 12 new FST customers, contributing to 2,400 potential Terminal 2 sales opportunities. Despite these gains, the company faced a net loss of $(551) thousand or $(0.06) per diluted share, compared to a net income of $906 thousand or $0.09 per diluted share in Q3 2023. Gross profit was $5.2 million with a 48.1% margin, down from $8.9 million and a 51.9% margin in Q3 2023. EBITDA was negative $(533) thousand, and adjusted EBITDA was negative $(204) thousand. The company maintains its full-year 2024 net sales outlook at $43-$45 million and adjusted EBITDA between negative $1 million and negative $2 million.
TransAct Technologies (Nasdaq: TACT) announced it will release its third quarter 2024 financial results after market close on November 7, 2024. The company will host a conference call and simultaneous webcast at 4:30 p.m. ET the same day. The conference call will be accessible via phone (877-704-4453, ID: 13749888) and through their website. A replay will be available until November 21, 2024, at 844-512-2921 with the same PIN.
TransAct Technologies (Nasdaq: TACT) announced its participation in two major Las Vegas events: NACS 2024 and G2E 2024, from October 8th to 10th. At NACS, TransAct will showcase its BOHA!® suite for convenience store fresh food operations at booth #C6463, featuring the new BOHA! Terminal 2 and various labeling solutions.
At G2E 2024, TransAct will present its Epic casino & gaming printers, Epicentral promotional software, and BOHA! foodservice technology at booth #2423. The company will highlight its Epicentral SE solution integrated with CasinoTrac's SlotSUITE. Recent deployment results show significant improvements in carded play (58.6% increase), rated coin-in (21% increase), and overall coin-in (3% increase).
CasinoTrac and TransAct have reported impressive results from a six-month deployment of their SlotSUITE system, powered by Epicentral SE, at a large regional casino in the American Southwest. The implementation, covering over 2,500 games, showed significant improvements in key performance areas:
- Carded/Rated Play increased by 58.6%, from 17% to 29%
- Rated Coin-In rose by 21% on upgraded games
- Overall Coin-In increased by 3% across the entire floor
- Rated WPU (Win Per Unit) grew by 39% on SlotSUITE-enhanced games
- Overall WPU increased by 8% across the entire gaming floor
The SlotSUITE system integrates TransAct's Epicentral SE with CasinoTrac's PromoTrac, offering a single-wire solution for enhanced player engagement and streamlined operations.
TransAct Technologies (Nasdaq: TACT) announced preliminary financial results for Q2 2024, with net sales of $11.6M, a 9% sequential increase but a 42% decline YoY. The company sold 1,500 terminals, up 64% sequentially, and added 13 new customers to its BOHA! platform.
FST recurring revenue was $2.8M, up 15% sequentially and 12% YoY. The gross profit was $6.1M with a 52.7% margin. However, the operating loss was $(438)K, an improvement from Q1 2024's $(1.3)M loss, but down from Q2 2023's $1.2M income. Net loss stood at $(319)K, improving from $(1.0)M in Q1 2024 but down from $765K in Q2 2023. Adjusted net loss was $(319)K, compared to $2.2M adjusted net income YoY.
EBITDA was negative $190K, while adjusted EBITDA was $89K. For the full year 2024, TransAct expects net sales between $45M and $50M and adjusted EBITDA between negative $1M and negative $2M, improving from prior estimates.
TransAct Technologies (Nasdaq: TACT), a leader in software-driven technology and printing solutions for high-growth markets, has announced its plans to release second quarter 2024 results on August 8, 2024, after market close. The company will host a conference call and simultaneous webcast at 4:30 p.m. ET on the same day.
Investors and interested parties can access the call via phone (877-704-4453, conference ID: 13747949) or through the company's website. An archived version of the webcast will be available for replay, and a call replay will be accessible until August 22, 2024. This announcement provides shareholders and analysts an opportunity to review TransAct's financial performance and engage with management.
TransAct Technologies (Nasdaq: TACT) has announced that Jet Food Stores, a Georgia-based convenience store chain, has selected the BOHA! Terminal 2 for deployment across all 42 of its locations offering fresh food. The rollout, expected to be completed by September, will involve 47 BOHA! Terminals used for date code and Grab n' Go labeling. TransAct anticipates an Average Revenue Per Unit (ARPU) of approximately $1,500.
John Dillon, CEO of TransAct, emphasized that the BOHA! suite of products is ideal for businesses serving fresh food to go, helping reduce labor and waste across operations. The deployment at Jet Food Stores showcases the speed and flexibility of BOHA! Terminal 2, enabling employees to save time and maintain compliance with FDA labeling requirements.
TransAct Technologies (NASDAQ: TACT) has announced the successful deployment of its Epicentral® Promotion and Bonusing system across 200 games in two Macau resorts. This installation, for a leading casino operator, is the first in Asia for Epicentral®. The system, integrated with Epic Edge® and Epic 950® TITO printers, enhances player engagement by printing intelligent promotional offers directly at the gaming stations. This deployment aims to increase player spending, extend time-on-device, and boost customer loyalty, ultimately driving higher revenue for the casinos. John Dillon, CEO of TransAct, emphasized the system's strategic benefits for casino operators.
TransAct Technologies (Nasdaq: TACT) announced a significant international market win, selling BOHA!® Terminal 2 to 200 locations in Italy.
This marks the fifth international market for the BOHA!® Terminal 2, joining Canada, Germany, Poland, and Saudi Arabia. Italy represents an additional opportunity for up to 500 more sales. The product is also being tested in other countries, potentially reaching 3,500 new locations.
CEO John Dillon highlighted increasing recognition of BOHA!® Terminal 2's cost benefits and superior user experience, signaling a shift from competitors to TransAct's solutions.
TransAct Technologies (NASDAQ: TACT) has provided an update on its strategic business review, conducted with the help of Roth Capital Partners. The company is exploring various strategic alternatives, including potential sales or new growth strategies. An independent committee has been formed to evaluate these options. CEO John Dillon highlighted the stable growth prospects of the company's casino business and the expansion of its FST business, despite losing the 7-Eleven label business. Notably, a large global QSR client has procured over 1,000 units of their new BOHA! Terminal 2 this year. The company remains committed to both external strategic initiatives and internal operational improvements.
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