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 (Nasdaq: TACT) has priced a public offering of 732,500 shares of common stock at $14.50 per share, raising approximately $10.6 million before expenses. The offering is set to close on August 16, 2021, subject to standard conditions. Roth Capital Partners is the lead manager, with Craig-Hallum Capital and Barrington Research as co-managers. Proceeds will fund working capital and support growth initiatives in the food service technology sector.
TransAct Technologies (Nasdaq: TACT) announced its intention to conduct an underwritten public offering of newly issued shares of common stock, with a 30-day option for underwriters to purchase an additional 15% of the shares. Roth Capital Partners is the sole book-running manager, while Craig-Hallum Capital Group serves as co-manager. Proceeds will be used for working capital and general corporate purposes, including development in the food service technology sector. The offering is subject to market conditions, and details will be filed with the SEC.
TransAct Technologies Incorporated (Nasdaq: TACT) will participate virtually in the D.A. Davidson Bison Select Conference on August 4, 2021, at 9:30 AM ET. Chairman & CEO Bart Shuldman and President & CFO Steve DeMartino will present and engage in meetings throughout the day. The presentation will be accessible via a live webcast and on TransAct’s website. TransAct is a leader in software-driven technology and printing solutions for markets such as food service and gaming, with over 3.3 million devices sold worldwide.
TransAct Technologies (TACT) reported preliminary operating results for Q2 2021, showing a 76% increase in net sales to $9.3 million compared to $5.3 million in Q2 2020. Food Service Technology (FST) revenue surged by 155% year-over-year, reaching $3.1 million, driven by a strong expansion of their hardware base. Despite these gains, TransAct posted a net loss of $(2.1) million or $(0.24) per share. Operating loss increased slightly to $(2.8) million. The total number of paid terminals in service rose by 127% to 7,942.
TransAct Technologies, a leader in software-driven technology, will release its Q2 2021 results post-market on August 3, 2021. A conference call and webcast will take place at 4:30 p.m. ET, accessible to the public via phone or online. Participants should call in 10 minutes early, using conference ID 8684634. A replay will be available for two weeks post-call. TransAct provides solutions across various industries, having sold over 3.3 million devices worldwide, and is based in Hamden, CT.
TransAct Technologies (Nasdaq: TACT) reports momentum in its BOHA! Restaurant Operations Platform with 16 new accounts representing 69 locations across the U.S. The company anticipates full deployment of the BOHA! systems by the end of 2022. Notable growth includes 18 BOHA! ROP systems with an average ARPU of $1,500 and an additional 51 BOHA! systems averaging $900 ARPU. The platform integrates various applications for food service efficiency, and the company aims to enhance operations for small to medium-sized businesses in the food sector.
TransAct Technologies (Nasdaq: TACT) has secured a new agreement to deploy its BOHA! system with a national restaurant chain across at least 90 locations by the end of FY22. This deployment aims to streamline date code and grab n’ go labeling processes, anticipating an annual recurring revenue of $1,000 per unit and one-time hardware sales of $800 per location. The BOHA! system integrates multiple functionalities to enhance operational efficiency in back-of-house restaurant management. The company remains optimistic about growth opportunities in the restaurant sector.
TransAct Technologies (Nasdaq: TACT) announced its participation in two virtual investor conferences. Bart Shuldman, Chairman & CEO, will engage in virtual meetings at the Barrington Research Virtual Spring Investment Conference on May 27, 2021. Additionally, he will present at the East Coast IDEAS Investor Conference on June 16, 2021, with the presentation available at www.IDEASconferences.com. TransAct Technologies specializes in software-driven technology and printing solutions across high-growth markets.
TransAct Technologies announces the passing of Board Member Thomas R. Schwarz, who served for over 24 years. Bart Shuldman, Chairman and CEO, expressed deep gratitude for Tom's leadership, innovation, and mentorship during his tenure, highlighting his significant contributions to the company. Tom previously held CEO roles at Grossmans and Dunkin' Donuts. TransAct is a leader in software-driven technology and printing solutions across various high-growth markets, committed to customer-centric innovations.
TransAct Technologies (TACT) announced its preliminary Q1 2021 results, revealing a net sales decrease of 19% to $8.3 million compared to Q1 2020. However, Food Service Technology (FST) revenues surged 100% year-over-year, with recurring revenue up 96%. The total number of paid terminals rose by 124% to 7,009. Despite this, the company faced an operating loss of $(2.7) million and a net loss of $(2.2) million, which is worse than the prior year's losses. CEO Bart C. Shuldman expressed optimism about recovery in the casino and gaming markets.
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