TransAct Secures BOHA!® Solutions Order with Growing National Restaurant Chain

Rhea-AI Summary

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.

Positive

• New BOHA! agreement secured with a national restaurant chain.
• Deployment expected in at least 90 locations by FY22.
• Anticipated annual recurring revenue of $1,000 per unit.
• One-time hardware sales estimated at $800 per location.
• BOHA! offers comprehensive solutions for restaurant operations.

Negative

• None.

TransAct® Technologies Incorporated (Nasdaq: TACT) (“TransAct” or “the Company”), a global leader in software-driven technology and printing solutions for high-growth markets, today announced that it has secured a new BOHA!^® agreement with a national restaurant chain. The company expects to deploy the BOHA! system to at least 90 locations by the end of FY22 to perform date code and grab n’ go labeling.

“As our BOHA! solutions continue to pick up considerable momentum, we see a large opportunity in the restaurant space that will only get larger with the challenges presented by the re-opening of America ,” said Bart C. Shuldman, Chairman and CEO of TransAct Technologies. “Our pipeline remains as robust as ever, and we look forward to working with this new client to meet their toughest back-of-house operational challenges.”

The complete system deployment will initially include the BOHA! Terminal, BOHA! Labeling software, and proprietary BOHA! labels. TransAct estimates total annual recurring revenue per unit (“ARPU”) will be at least $1,000 per year, with one-time hardware revenue sales of at least $800 per location.

BOHA! is the first single-vendor cloud-based enterprise system to combine applications for Food Safety, Date Code and Grab n’ Go Labeling, Temperature Monitoring of Food and Equipment, Checklists & Task Management, Inventory Management, Timers, and Food Recall, in one integrated platform. Each BOHA! solution combines cloud-based SaaS applications with hardware and accessories to deliver superior results for critical back-of-house operations. BOHA! offers a one-stop solution for restaurants and food service companies to address their current back-of-house operating requirements while providing a future-ready platform capable of addressing back-of-house operations.

For more information on the Company’s BOHA! ecosystem, please visit www.transact-tech.com/m/restaurant-solutions/

About TransAct Technologies Incorporated

TransAct Technologies Incorporated is a global leader in developing software-driven technology and printing solutions for high-growth markets including food service, casino and gaming, POS automation, , and oil and gas. The Company’s solutions are designed from the ground up based on customer requirements and are sold under the BOHA!™, AccuDate™, EPICENTRAL®, Epic®, Ithaca® and Printrex® brands. TransAct has sold over 3.3 million printers and terminals around the world and is committed to providing world-class service, spare parts and accessories to support its installed product base. Through the TransAct Services Group, the Company also provides customers with a complete range of supplies and consumable items both online at http://www.transactsupplies.com and through its direct sales team. TransAct is headquartered in Hamden, CT. For more information, please visit http://www.transact-tech.com or call (203) 859-6800.

BOHA! is a trademark of TRANSACT Technologies Incorporated. ©2019 TRANSACT Technologies Incorporated. All rights reserved.

Forward-Looking Statements

Certain statements in this press release include forward-looking statements. Forward-looking statements generally can be identified by the use of forward-looking terminology, such as "may", "will", "expect", "intend", "estimate", "anticipate", "believe" or "continue" or the negative thereof or other similar words. All forward-looking statements involve risks and uncertainties, including, but not limited to, customer acceptance and market share gains, both domestically and internationally, in the face of substantial competition from competitors that have broader lines of products and greater financial resources; our competitors introducing new products into the marketplace; our ability to successfully develop and introduce new products and the acceptance of such products in the marketplace; our dependence on significant customers; our dependence on significant vendors; dependence on contract manufacturers for the assembly of a large portion of our products in Asia; our ability to protect intellectual property; our ability to recruit and retain quality employees as the Company grows; our dependence on third parties for sales outside the United States, including Australia, New Zealand, Europe, Latin America and Asia; the economic and political conditions in the United States, Australia, New Zealand, Europe, Latin America and Asia; marketplace acceptance of new products; risks associated with foreign operations; the availability of third-party components at reasonable prices; price wars or other significant pricing pressures affecting the Company's products in the United States or abroad; risks associated with potential future acquisitions; the risk that our new line of food safety and oil and gas products will not drive increased adoption by customers; and other risk factors detailed in TransAct's Annual Report on Form 10-K and other reports filed with the Securities and Exchange Commission. Actual results may differ materially from those discussed in, or implied by, the forward-looking statements. The forward-looking statements speak only as of the date of this release and the Company assumes no duty to update them to reflect new, changing or unanticipated events or circumstances.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210621005104/en/

FAQ

What does the new agreement involve for TransAct Technologies (TACT)?

TransAct Technologies has secured a BOHA! agreement to deploy its system in at least 90 locations of a national restaurant chain.

What is the expected revenue from the new BOHA! deployment for TACT?

The expected annual recurring revenue is at least $1,000 per unit, with additional hardware sales of at least $800 per location.

How does the BOHA! system benefit restaurants?

The BOHA! system integrates various functionalities for food safety and labeling, enhancing back-of-house operational efficiency.

When is the BOHA! system expected to be deployed by TransAct Technologies?

The deployment is expected to be completed by the end of FY22.