TransAct Secures First Restaurant BOHA!® Restaurant Operations Platform Order

Rhea-AI Summary

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.

Positive

• First BOHA! ROP order secured for thirteen restaurants, indicating growing demand.
• Estimated annual recurring revenue (ARPU) of $1,800 per unit and one-time hardware revenue of $2,800 per location enhance revenue potential.
• Deployment expected to be completed by year-end, contributing to future revenues.

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 its first BOHA!^® ROP (Restaurant Operations Platform) order for thirteen restaurants that are part of a multi-concept, full-service restaurant company. TransAct estimates total annual recurring revenue per unit (“ARPU”) will be at least $1,800, and will also include one-time hardware revenue of at least $2,800 per location. The company expects to be fully deployed by year end.

“We are thrilled to announce our first restaurant BOHA! ROP order and are beginning to see momentum building in the pipeline for this unique offering,” said Bart C. Shuldman, Chairman and CEO of TransAct Technologies. “As a full-service back of house operations platform, BOHA! ROP gives operators the control they need, exactly where they need it. We look forward to onboarding our new client and welcoming many more to the BOHA! ecosystem.”

The full deployment of the BOHA! ROP order includes: BOHA! Labeling, Temp, Sense, Checklist, Timer, and Media Manager, along with the BOHA! Work Station, BOHA! Sensors, and BOHA! Gateway. These will be deployed in all 13 US locations along with BOHA! proprietary labels.

TransAct’s innovative iPad-based BOHA! ROP, which was announced in September, includes BOHA! hardware as well as a core suite of software applications which provide restaurant operators with a single, digitized platform to manage and track food safety procedures and back-of-house operational processes. Pairing with the all-new BOHA! Work Station, ROP features TransAct’s new BOHA! Link technology which allows the iPad to wirelessly print to the BOHA! Work Station, as well as native iOS BOHA! applications which can be downloaded and installed directly from the Apple Business App Store.

BOHA! is the first single-vendor solution to combine applications for Food Safety Labeling, Temperature Monitoring of Food and Equipment, Inventory Management, Food Production, Timers, Food Recalls, Checklists & Procedures, and Equipment Service Management 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 BOHA!.

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. ©2021 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/20210309005914/en/

FAQ

What is the BOHA! ROP order announced by TransAct Technologies?

TransAct Technologies announced its first BOHA! ROP order for thirteen restaurants that will generate significant recurring and one-time revenues.

What revenue can TransAct expect from the new BOHA! ROP order?

The estimated annual recurring revenue is at least $1,800 per unit, with one-time hardware revenue of at least $2,800 per location.

When will the BOHA! ROP deployment be completed?

The company expects to complete the deployment by the end of the year.

What features does the BOHA! ROP offer to restaurants?

The BOHA! ROP combines applications for food safety labeling, temperature monitoring, inventory management, and more into a single platform.

What stock symbol does TransAct Technologies operate under?

TransAct Technologies operates under the stock symbol TACT.