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 announced a significant upgrade order for its BOHA! Solutions from an existing food service customer. The customer will implement the BOHA! Temp app across over 1,000 locations by the end of December 2022, transitioning from paper-based HACCP procedures to a digital management system. This upgrade is expected to enhance temperature management and provide real-time insights, improving operational efficiency. TransAct aims to assist food service operators in streamlining back-of-house operations with its integrated BOHA! platform, which combines various applications for food safety and management.
TransAct Technologies (TACT) reported preliminary results for Q4 and full-year 2020, facing challenges amid the pandemic. Q4 net sales fell 30% to $7.8 million from $11.2 million in Q4 2019. Despite this, FST recurring revenue rose 37% year-over-year, reaching $0.9 million. The number of paid terminals increased significantly by 107% to 5,688. For the full year, net sales dropped 33% to $30.6 million, with a net loss of $5.6 million, or $(0.72) per share. TransAct's focus remains on leveraging its BOHA! solutions and growing its Casino and Gaming market.
TransAct Technologies Incorporated (Nasdaq: TACT) announced its first BOHA! ROP order for thirteen restaurants under a multi-concept company. This order is projected to generate an estimated annual recurring revenue of at least $1,800 per unit, alongside one-time hardware revenue of $2,800 per location. The deployment will include various BOHA! products across all locations by year-end. The BOHA! ROP integrates cloud-based applications with hardware for food safety and back-of-house operations, offering a comprehensive solution for the restaurant industry.
TransAct Technologies (Nasdaq: TACT) has secured a new BOHA! agreement with a regional convenience store operator, planned for deployment across over 40 locations. This deal is expected to generate an estimated annual recurring revenue of at least $1,500 per unit and one-time hardware sales of at least $900 per location. The BOHA! system integrates multiple applications for food safety, inventory management, and operational procedures into a single platform, enhancing efficiency for food service operators.
TransAct Technologies (Nasdaq: TACT) will announce its fourth quarter and full year 2020 results after market close on March 9, 2021. A conference call and webcast will take place at 4:30 p.m. ET the same day, accessible to the public. To join, call 888-394-8218 (Conference ID: 2578777) and connect ten minutes early. Alternatively, the event can be accessed online at www.transact-tech.com. TransAct is a leader in software-driven technology and printing solutions across various high-growth markets.
TransAct Technologies (Nasdaq: TACT) has secured a new BOHA! agreement with an international convenience store operator, planning deployment across over 350 locations, with potential expansion to 650 locations in the US and Canada. The BOHA! enterprise system will streamline operations for their fresh food offerings, estimated to generate $2,000 annual recurring revenue per unit. This deployment includes BOHA! Terminal, Labeling Software, and proprietary labels. Trials for additional software to reduce food waste are expected to begin in Q2 2021.
TransAct Technologies (Nasdaq: TACT) has announced a significant new order from an existing customer to upgrade to the full BOHA! ecosystem. The deployment will extend across 215 stores and follows successful installations at 19 locations. This upgrade enables remote menu updates and enhanced labeling options, crucial for fresh food offerings. TransAct projects annual recurring revenue of at least $1,400 per site and one-time revenue of $800 per unit. The BOHA! system integrates multiple operational applications, paving the way for comprehensive food safety and management solutions.
TransAct Technologies (NASDAQ: TACT) announced that Director Thomas R. Schwarz will retire from the Board of Directors by the end of 2021. Schwarz has served for 24 years and will ensure a smooth transition by sharing insights with newly elected directors. CEO Bart Shuldman acknowledged Schwarz's significant contributions to the company's growth and strategic positioning. TransAct also plans to solicit shareholder feedback at the 2021 Annual Meeting on a proposal to declassify the Board, indicating a commitment to enhancing corporate governance and responding to shareholder input.
TransAct Technologies (Nasdaq: TACT) has been chosen by the Circa Resort & Casino in Las Vegas as the sole provider of printers for their 1,350 slot machines. This marks a significant partnership as Circa is the first all-new casino to open in downtown Las Vegas since 1980, with its grand opening scheduled for October 28. TransAct's industry-leading Epic 950 and Epic Edge printers will enhance the casino's operations. Company Chairman Bart C. Shuldman expressed excitement over the collaboration, emphasizing the reliability and performance of their products.
TransAct Technologies (Nasdaq: TACT) announced that CEO Bart Shuldman will participate in the Southwest IDEAS Investor Conference on November 18, 2020. The company's presentation, available at 7:00 am CST, will be webcasted for registered participants. Investors can access the presentation through the IDEAS conference portal or the investor relations section of TransAct's website. The IDEAS Investor Conferences aim to connect quality companies with investment professionals, providing a platform for meaningful engagement.
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