Welcome to our dedicated page for Transact Tech news (Ticker: TACT), a resource for investors and traders seeking the latest updates and insights on Transact Tech stock.
Company Overview
Transact Technologies Inc (TACT) is a global provider renowned for its innovative, software-driven technology and printing solutions. With a broad portfolio tailored for high-growth markets, the company has positioned itself as a pivotal player within industries that demand precision, reliability, and advanced technological integration. Incorporating keywords such as POS automation, casino and gaming, and restaurant technology, Transact Technologies is committed to addressing complex market needs with comprehensive, customizable solutions.
Products and Services
Transact Technologies develops and markets an extensive range of products that include software solutions, hardware installations, and consumable supplies required for seamless printing and scanning operations. The company’s products are marketed under reputable brand names including AccuDate, EPIC, Epicentral, Ithaca, Printrex, and others. This diversified brand strategy allows the company to serve a wide array of sectors from retail to healthcare with offerings that encompass:
- Software-driven printing solutions
- POS automation and restaurant technology products
- Integrated hardware and supply solutions for casino, gaming, lottery, and mobile applications
- Specialized consumables and spare parts designed to maintain the high performance of its installed base
Market Applications and Operational Excellence
Serving a diverse market spectrum, Transact Technologies is instrumental in industries such as foodservice, casino gaming, retail banking, lottery systems, and oil and gas. The company’s products are engineered from the ground up, aligning closely with customer requirements and industry standards. Its operational excellence is underscored by a significant global installed base, with millions of terminals and printers supporting business operations worldwide. This robust infrastructure is further enhanced by dedicated service groups that ensure efficient distribution of spare parts, consumables, and technical support.
Global Presence and Customer-Centric Focus
Headquartered in Hamden, CT, Transact Technologies operates with a dual focus on the United States and key international markets. The company’s commitment to meeting customer demands is evident in its comprehensive support network and tailored service solutions. By focusing on long-term reliability and quality, Transact ensures that its offerings remain relevant and robust, thereby reinforcing its market position through continuous service excellence and constant innovation.
Competitive Edge and Industry Positioning
The competitive landscape for technology and printing solutions is rigorous, yet Transact Technologies has consistently demonstrated differentiated value through its deep customization capabilities and integrated service offerings. Rather than relying solely on hardware sales, the company's revenue model is bolstered by a mixture of software licensing, maintenance contracts, and a diverse portfolio of consumable products. This multipronged approach not only underpins its sustained market relevance but also offers a clear representation of its expertise and commitment to operational excellence.
Commitment to Expertise and Quality
Transact Technologies’ long-standing reputation is built upon its rigorous approach to product development and customer service. The company’s solutions are a result of meticulous engineering and ongoing enhancements that are executed in collaboration with industry professionals. Every product and service line is developed with extensive customer feedback and market insights, ensuring that each solution meets high standards of quality and performance. This strategic focus on technical excellence, combined with strong customer support, has reinforced the company’s role as a trusted solution provider in the industry.
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.
TransAct Technologies (Nasdaq: TACT) will showcase its latest innovations, including the Epicentral Mobile Host at the 21st Annual Global Gaming Expo in Las Vegas from October 5-7, 2021. This mobile feature enables casino managers to deliver real-time promotions to players, enhancing engagement and loyalty. The Epic Edge printer, boasting a 300-DPI resolution, improves ticket processing efficiency. TransAct aims to leverage these technologies to drive casino revenue growth and improve player experiences.
TransAct Technologies (NASDAQ: TACT) announced that Bart Shuldman, Chairman & CEO, and Steve DeMartino, President & CFO, will participate in the Jefferies Virtual Software Conference. Scheduled for September 14-15, 2021, the event includes one-on-one meetings and a virtual presentation on September 15 at 4:00 PM ET. The presentation will be accessible via a live webcast and on the TransAct website.
TransAct Technologies (Nasdaq: TACT) has successfully closed an underwritten public offering of 732,500 shares at $14.50 each, raising approximately $10.6 million. The offering includes a 30-day option for underwriters to purchase an additional 109,875 shares for overallotments. Proceeds will be used for working capital and enhancing the company's food service technology business, including sales, marketing, and personnel costs. Roth Capital Partners managed the offering, with Craig-Hallum and Barrington Research as co-managers.
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