Transact Tech - TACT STOCK NEWS

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.

TransAct® Technologies Incorporated (Nasdaq: TACT) will showcase its BOHA!® suite at the National Restaurant Association Show 2024, featuring industry-leading hardware and software solutions for food service operations. The event, from May 18 to May 21, 2024, in Chicago, will highlight BOHA! products like date code labeling and temperature monitoring. The CEO highlighted the technology's role in enhancing efficiency and compliance in the evolving food service industry.

TransAct Technologies reported preliminary financial results for the first quarter of 2024, highlighting net sales of $10.7 million, a 52% decrease from the same period in 2023 due to market dynamics. The company also reported FST recurring revenue of $2.4 million, a 3% increase from 2023. However, gross profit decreased to $5.6 million with a gross margin of 52.6%. Operating income was a loss of $(1.3) million, and net loss was $(1.0) million. EBITDA and Adjusted EBITDA were negative as well. TransAct Technologies expects full-year 2024 total net sales between $45 million and $50 million and adjusted EBITDA between negative $2.5 million and negative $3.5 million.

TransAct Technologies (TACT), a global leader in software-driven technology and printing solutions, will release its first quarter 2024 results on May 7, 2024. The company will host a conference call and webcast at 8:30 p.m. ET on the same day. Interested parties can access the call and webcast online or via phone.

TransAct Technologies Incorporated (Nasdaq: TACT) reported a 26% decrease in net sales for the fourth quarter of 2023, with varying sales performance in different sectors. The company highlighted positive growth in Food Service Technology sales but a decline in Casino and Gaming sales. The CEO expressed confidence in the company's transition and the potential for growth in 2024. Financially, there was a decrease in net income and EBITDA for the fourth quarter, although full-year results showed improved net sales, gross profit, and operating income compared to 2022.

TransAct Technologies Incorporated (Nasdaq: TACT) will release its Q4 and full year 2023 results on March 12, 2024, with a conference call and webcast open to the public. Details for accessing the call and webcast are provided in the press release.

TransAct Technologies Incorporated (Nasdaq: TACT) has announced a new order for the BOHA! Sense software application across all 87 owned communities of a new assisted living customer. The deployment includes 1,200 sensors, 240 Gateways, and ongoing access to BOHA! Sense for real-time temperature monitoring. This will allow medical staff to ensure medication storage at required temperatures and monitor food storage and safety standards. CEO John Dillon expressed satisfaction with the custom-tailored program for the new client, highlighting TransAct's commitment to innovation and customer needs.

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.