TransAct Technologies Reports Preliminary Third Quarter 2024 Financial Results
TransAct Technologies (Nasdaq: TACT) released preliminary financial results for Q3 2024, reporting net sales of $10.9 million, down 6% sequentially and 37% year-over-year. The company sold 1,355 BOHA! Terminals in the quarter and added 12 new FST customers, contributing to 2,400 potential Terminal 2 sales opportunities. Despite these gains, the company faced a net loss of $(551) thousand or $(0.06) per diluted share, compared to a net income of $906 thousand or $0.09 per diluted share in Q3 2023. Gross profit was $5.2 million with a 48.1% margin, down from $8.9 million and a 51.9% margin in Q3 2023. EBITDA was negative $(533) thousand, and adjusted EBITDA was negative $(204) thousand. The company maintains its full-year 2024 net sales outlook at $43-$45 million and adjusted EBITDA between negative $1 million and negative $2 million.
TransAct Technologies (Nasdaq: TACT) ha pubblicato i risultati finanziari preliminari per il terzo trimestre del 2024, riportando vendite nette di 10,9 milioni di dollari, in calo del 6% rispetto al trimestre precedente e del 37% rispetto all'anno precedente. L'azienda ha venduto 1.355 terminali BOHA! nel trimestre e ha acquisito 12 nuovi clienti FST, contribuendo a 2.400 potenziali opportunità di vendita per il Terminal 2. Nonostante questi progressi, l'azienda ha registrato una perdita netta di 551 mila dollari, ovvero 0,06 dollari per azione diluita, rispetto a un reddito netto di 906 mila dollari, o 0,09 dollari per azione diluita nel terzo trimestre del 2023. L'utile lordo è stato di 5,2 milioni di dollari con un margine del 48,1%, in calo rispetto agli 8,9 milioni di dollari e a un margine del 51,9% nel terzo trimestre del 2023. L'EBITDA è stato negativo per 533 mila dollari, e l'EBITDA rettificato è stato negativo per 204 mila dollari. L'azienda mantiene la sua previsione di vendite nette per l'intero anno 2024 tra 43 e 45 milioni di dollari e un EBITDA rettificato compreso tra un milione e due milioni di dollari in negativo.
TransAct Technologies (Nasdaq: TACT) publicó resultados financieros preliminares para el tercer trimestre de 2024, reportando ventas netas de 10,9 millones de dólares, una disminución del 6% secuencialmente y del 37% interanual. La compañía vendió 1.355 Terminales BOHA! en el trimestre y añadió 12 nuevos clientes FST, contribuyendo a 2.400 oportunidades de venta potenciales del Terminal 2. A pesar de estas ganancias, la compañía enfrentó una pérdida neta de 551 mil dólares o 0,06 dólares por acción diluida, en comparación con una ganancia neta de 906 mil dólares o 0,09 dólares por acción diluida en el tercer trimestre de 2023. La ganancia bruta fue de 5,2 millones de dólares con un margen del 48,1%, disminuyendo desde 8,9 millones de dólares y un margen del 51,9% en el tercer trimestre de 2023. El EBITDA fue negativo en 533 mil dólares, y el EBITDA ajustado fue negativo en 204 mil dólares. La compañía mantiene su perspectiva de ventas netas para todo el año 2024 en un rango de 43 a 45 millones de dólares y un EBITDA ajustado entre menos 1 millón y menos 2 millones de dólares.
TransAct Technologies (Nasdaq: TACT)가 2024년 3분기 예비 재무 결과를 발표하며, 순매출 1,090만 달러를 기록했다고 보고했습니다. 이는 전분기 대비 6% 감소하고, 작년 대비 37% 감소한 수치입니다. 이 회사는 해당 분기에 1,355개의 BOHA! 터미널을 판매했고, 12명의 새로운 FST 고객을 추가하여 2,400개의 잠재적인 터미널 2 판매 기회를 창출했습니다. 이러한 성장에도 불구하고 회사는 55만 1,000 달러의 순손실을 기록했으며, 이는 희석주당 0.06 달러에 해당합니다. 이는 2023년 3분기의 90만 6,000 달러 순이익 또는 희석주당 0.09 달러에 비해 부정적인 실적입니다. 총 이익은 520만 달러로, 마진은 48.1%로, 2023년 3분기의 890만 달러와 51.9% 마진에서 감소했습니다. EBITDA는 53만 3,000 달러로 부정적이었고, 조정 EBITDA는 20만 4,000 달러로 부정적이었습니다. 회사는 2024년 전체 연도 순매출 전망을 4,300만 달러에서 4,500만 달러 사이로 유지하고 있으며, 조정 EBITDA는 100만 달러에서 200만 달러 사이의 적자를 예상하고 있습니다.
TransAct Technologies (Nasdaq: TACT) a publié des résultats financiers préliminaires pour le troisième trimestre 2024, rapportant des ventes nettes de 10,9 millions de dollars, en baisse de 6 % par rapport au trimestre précédent et de 37 % par rapport à l'année précédente. L'entreprise a vendu 1.355 terminaux BOHA! au cours du trimestre et a ajouté 12 nouveaux clients FST, contribuant à 2.400 opportunités de vente potentielles pour le Terminal 2. Malgré ces gains, l'entreprise a enregistré une perte nette de 551.000 dollars, soit 0,06 dollar par action diluée, contre un bénéfice net de 906.000 dollars, soit 0,09 dollar par action diluée au troisième trimestre 2023. Le bénéfice brut était de 5,2 millions de dollars avec une marge de 48,1 %, en baisse par rapport aux 8,9 millions de dollars et à une marge de 51,9 % au troisième trimestre 2023. L'EBITDA était négatif de 533.000 dollars, et l'EBITDA ajusté était négatif de 204.000 dollars. L'entreprise maintient ses prévisions de ventes nettes pour l'année entière 2024 entre 43 et 45 millions de dollars et un EBITDA ajusté entre moins 1 million et moins 2 millions de dollars.
TransAct Technologies (Nasdaq: TACT) hat vorläufige Finanzergebnisse für das 3. Quartal 2024 veröffentlicht und meldet Nettoumsätze von 10,9 Millionen Dollar, was einem Rückgang von 6 % im Vergleich zum Vorquartal und 37 % im Vergleich zum Vorjahr entspricht. Das Unternehmen verkaufte im Quartal 1.355 BOHA! Terminals und konnte 12 neue FST-Kunden gewinnen, was zu 2.400 potenziellen Verkaufschancen für das Terminal 2 beiträgt. Trotz dieser Fortschritte verzeichnete das Unternehmen einen Nettoverlust von 551.000 Dollar oder 0,06 Dollar je verwässerter Aktie, verglichen mit einem Nettoertrag von 906.000 Dollar oder 0,09 Dollar je verwässerter Aktie im 3. Quartal 2023. Der Bruttogewinn betrug 5,2 Millionen Dollar mit einer Marge von 48,1 %, im Vergleich zu 8,9 Millionen Dollar und einer Marge von 51,9 % im 3. Quartal 2023. EBITDA war negativ mit 533.000 Dollar, und bereinigtes EBITDA war negativ mit 204.000 Dollar. Das Unternehmen hält die Prognose für die Nettoumsätze für das Geschäftsjahr 2024 bei 43 bis 45 Millionen Dollar und das bereinigte EBITDA zwischen minus 1 Million und minus 2 Millionen Dollar.
- Sold 1,355 BOHA! Terminals in Q3 2024.
- Added 12 new FST customers, representing 2,400 potential Terminal 2 sales opportunities.
- FST recurring revenue up 4% sequentially.
- Net sales decreased by 37% year-over-year to $10.9 million.
- Gross profit decreased to $5.2 million, with a gross margin of 48.1%, down from 51.9%.
- Operating loss of $(837) thousand, compared to operating income of $1.2 million in Q3 2023.
- Net loss of $(551) thousand, compared to net income of $906 thousand in Q3 2023.
- EBITDA was negative $(533) thousand, down from $1.5 million in Q3 2023.
- Adjusted EBITDA was negative $(204) thousand, down from $1.7 million in Q3 2023.
Sold Over 1,350 Terminals in the Quarter, With Over 2,800 Sold in the Last Two Quarters
Added 12 New FST Customers in the Quarter
Casino Market Continues to Normalize after Industry Inventory Build During Pandemic
“We reported an excellent FST quarter, with another 1,355 BOHA! Terminal sales. We believe this momentum is just the beginning, with the effects of our re-organization and re-focusing of the sales team and go-to-market process starting to yield positive results,” said John Dillon, Chief Executive Officer of TransAct. “We also added another 12 new FST accounts in the quarter, representing approximately 2,400 potential Terminal 2 sales opportunities. Our pipeline continues to hold strong under continued scrubbing, and as we further refine our process, we expect to further improve our go-to-market execution and generate improving conversion rates in 2025.”
Third Quarter 2024 Financial Highlights
-
Net Sales: Net sales for the third quarter of 2024 were
, down$10.9 million 6% sequentially and down37% compared to for the third quarter of 2023, largely as a result of the expected market dynamics and normalizing demand for our Casino and Gaming printers.$17.2 million -
FST Recurring Revenue: FST recurring revenue for the third quarter of 2024 was
, which was up$2.9 million 4% sequentially, but down8% compared to for the third quarter of 2023.$3.1 million -
Gross Profit: Gross profit for the third quarter of 2024 was
, resulting in gross margin of$5.2 million 48.1% , compared to gross profit of for the third quarter of 2023, which delivered a$8.9 million 51.9% gross margin. -
Operating (loss) income: Operating loss for the third quarter of 2024 was
, compared to an operating loss of$(837) thousand for the second quarter of 2024 and operating income of$(438) thousand for the third quarter of 2023.$1.2 million -
Net (loss) income: Net loss for the third quarter of 2024 was
, or$(551) thousand per diluted share, based on 10.0 million weighted average common shares outstanding, compared sequentially to a net loss for the second quarter of 2024 of$(0.06) , or$(319) thousand per diluted share.$(0.03)
This compares to net income for the third quarter of 2023 of , or$906 thousand per diluted share, based on 10.1 million weighted average common shares outstanding.$0.09 -
EBITDA: EBITDA was negative
for the third quarter of 2024, compared to negative$(533) thousand for the second quarter of 2024 and$(190) thousand for the third quarter of 2023.$1.5 million -
Adjusted EBITDA: Adjusted EBITDA was negative
for the third quarter of 2024, compared to$(204) thousand in the second quarter of 2024, and$89 thousand for the third quarter of 2023.$1.7 million
Updated 2024 Financial Outlook
-
Net Sales: The Company now expects full year 2024 net sales of between
and$43 million .$45 million -
Adjusted EBITDA: The Company continues to expect full year 2024 adjusted EBITDA to be between negative
and negative$1 million $2 million
Our outlook for non-GAAP adjusted EBITDA is presented only on a non-GAAP basis because not all of the information necessary for a quantitative reconciliation of this forward-looking non-GAAP financial measure to the most directly comparable GAAP financial measure is available without unreasonable effort, primarily due to uncertainties relating to the occurrence or amount of these adjustments that may arise in the future. If one or more of the currently unavailable items is applicable, some items could be material, individually or in the aggregate, to GAAP reported results.
Strategic Business Review
The Company continues to actively assess strategic alternatives with the assistance of Roth Capital Partners, LLC, the Company’s advisor while continuing to pursue its business growth and development initiatives on a parallel track. The Company has engaged with a number of outside parties since the previous update in June and is in various stages of discussion with such outside parties. The Company is committed to pursuing an optimal outcome for all its stakeholders and maximizing shareholder value.
2024 Third Quarter Conference Call and Webcast
TransAct is hosting a conference call and webcast today, November 7, 2024, beginning at 4:30 p.m. ET to discuss the Company’s preliminary third quarter 2024 results and other matters. Both the call and the webcast are open to the general public. The conference call number is 877-704-4453 and the conference ID number is 13749888. Please call ten minutes prior to the presentation to ensure that you are connected.
Interested parties may also access the conference call live on the Internet at www.transact-tech.com (select “Company” followed by “Investor Relations,” then select “News & Events” followed by “Events & Presentations”). Approximately two hours after the call has concluded, an archived version of the webcast will be available for replay at the same location.
Non-GAAP Financial Measures
TransAct is providing certain non-GAAP financial measures because the Company believes that these measures are helpful to investors and others in assessing the ongoing nature of what the Company’s management views as TransAct’s core operations. EBITDA and adjusted EBITDA provide the Company with an understanding of one aspect of earnings before the impact of investing and financing charges and income taxes. The Company believes that these non-GAAP financial measures provide relevant and useful information to an investor evaluating the Company’s operating performance because these measures are: (i) widely used by investors to measure a company’s operating performance without regard to items that do not reflect the Company’s ongoing operations and are excluded from the calculation of such measures; (ii) used as financial measurements by lenders and other parties to evaluate creditworthiness; and (iii) used by the Company’s management for various purposes including strategic planning and forecasting and assessing financial performance. Adjusted net (loss) income and adjusted net (loss) income per diluted share provide the Company with an understanding of the results of the primary operations of the business by excluding the effects of special items (for example, the
EBITDA is defined as net (loss) income before net interest income (expense), income taxes, depreciation, and amortization. A reconciliation of EBITDA to net (loss) income, the most comparable GAAP financial measure, can be found attached to this release.
Adjusted EBITDA is defined as net (loss) income before net interest income (expense), income taxes, depreciation and amortization and is adjusted for (1) share-based compensation expense, (2) the
Adjusted net (loss) income is defined as net (loss) income adjusted for the
Adjusted net (loss) income per diluted share is defined as adjusted net (loss) income divided by diluted shares outstanding. A reconciliation of adjusted net (loss) income per diluted share to net (loss) income per diluted share, the most comparable GAAP financial measure, can be found attached to this release.
About TransAct Technologies Incorporated
TransAct Technologies Incorporated is a global leader in developing and selling software-driven technology and printing solutions for high-growth markets including food service, casino and gaming, and POS automation. The Company’s solutions are designed from the ground up based on customer requirements and are sold under the BOHA!™, AccuDate™, EPICENTRAL®, Epic and Ithaca® brands. TransAct has sold over 3.9 million printers, terminals and other hardware devices 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
©2024 TRANSACT Technologies Incorporated. All rights reserved. TransAct®, BOHA!™, AccuDate™, Epic Edge®, EPICENTRAL® and Ithaca® are trademarks of TransAct Technologies Incorporated.
Cautionary Statement Regarding Preliminary Financial Information
The Company has prepared the preliminary financial information set forth below on a materially consistent basis with its historical financial information and in good faith based upon its internal reporting as of and for the three and nine months ended September 30, 2024. This financial information is preliminary and is thus inherently uncertain and subject to change as the Company finalizes its financial results and related review for the three and nine months ended September 30, 2024. During the course of the preparation of the Company’s condensed consolidated financial statements and related notes as of and for the three and nine months ended September 30, 2024, the Company may identify items that could cause its final reported results to be materially different from the preliminary financial information set forth above. As a result, there can be no assurance that the Company’s final results for this period will not differ from the preliminary financial information.
This preliminary financial information should not be viewed as a substitute for full financial statements prepared in accordance with GAAP. In addition, this preliminary financial information is not necessarily indicative of the results to be achieved for any future period.
Forward-Looking Statements
Certain statements included in this press release may be forward-looking statements within the meaning of the
- Financial tables follow-
TRANSACT TECHNOLOGIES INCORPORATED |
||||||||||||||||
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS |
||||||||||||||||
(Preliminary and Unaudited) |
||||||||||||||||
|
|
|||||||||||||||
|
|
Three months ended |
|
Nine months ended |
||||||||||||
|
|
September 30, |
|
September 30, |
||||||||||||
|
|
|
2024 |
|
|
|
2023 |
|
|
|
2024 |
|
|
|
2023 |
|
|
|
(In thousands, except per share data) |
||||||||||||||
|
|
|
|
|
|
|
|
|
||||||||
Net sales |
|
$ |
10,867 |
|
|
$ |
17,190 |
|
|
$ |
33,153 |
|
|
$ |
59,366 |
|
Cost of sales |
|
|
5,640 |
|
|
|
8,274 |
|
|
|
16,192 |
|
|
|
27,337 |
|
Gross profit |
|
|
5,227 |
|
|
|
8,916 |
|
|
|
16,961 |
|
|
|
32,029 |
|
|
|
|
|
|
|
|
|
|
||||||||
Operating expenses: |
|
|
|
|
|
|
|
|
||||||||
Engineering, design and product development |
|
|
1,640 |
|
|
|
2,509 |
|
|
|
5,405 |
|
|
|
7,283 |
|
Selling and marketing |
|
|
1,880 |
|
|
|
2,397 |
|
|
|
6,160 |
|
|
|
7,838 |
|
General and administrative |
|
|
2,544 |
|
|
|
2,819 |
|
|
|
7,972 |
|
|
|
10,680 |
|
|
|
|
6,064 |
|
|
|
7,725 |
|
|
|
19,537 |
|
|
|
25,801 |
|
Operating (loss) income |
|
|
(837 |
) |
|
|
1,191 |
|
|
|
(2,576 |
) |
|
|
6,228 |
|
|
|
|
|
|
|
|
|
|
||||||||
Interest and other income (expense): |
|
|
|
|
|
|
|
|
||||||||
Interest, net |
|
|
42 |
|
|
|
(73 |
) |
|
|
116 |
|
|
|
(207 |
) |
Other, net |
|
|
96 |
|
|
|
(43 |
) |
|
|
43 |
|
|
|
(22 |
) |
|
|
|
138 |
|
|
|
(116 |
) |
|
|
159 |
|
|
|
(229 |
) |
|
|
|
|
|
|
|
|
|
||||||||
(Loss) income before income taxes |
|
|
(699 |
) |
|
|
1,075 |
|
|
|
(2,417 |
) |
|
|
5,999 |
|
Income tax benefit (expense) |
|
|
148 |
|
|
|
(169 |
) |
|
|
511 |
|
|
|
(1,189 |
) |
Net (loss) income |
|
$ |
(551 |
) |
|
$ |
906 |
|
|
$ |
(1,906 |
) |
|
$ |
4,810 |
|
|
|
|
|
|
|
|
|
|
||||||||
Net (loss) income per common share: |
|
|
|
|
|
|
|
|
||||||||
Basic |
|
$ |
(0.06 |
) |
|
$ |
0.09 |
|
|
$ |
(0.19 |
) |
|
$ |
0.48 |
|
Diluted |
|
$ |
(0.06 |
) |
|
$ |
0.09 |
|
|
$ |
(0.19 |
) |
|
$ |
0.48 |
|
|
|
|
|
|
|
|
|
|
||||||||
Shares used in per share calculation: |
|
|
|
|
|
|
|
|
||||||||
Basic |
|
|
10,006 |
|
|
|
9,958 |
|
|
|
9,992 |
|
|
|
9,948 |
|
Diluted |
|
|
10,006 |
|
|
|
10,052 |
|
|
|
9,992 |
|
|
|
10,023 |
|
|
|
|
|
|
|
|
|
|
SUPPLEMENTAL INFORMATION – SALES BY MARKET:
|
|||||||||||
|
Three months ended |
|
Nine months ended |
||||||||
|
September 30, |
|
September 30, |
||||||||
|
2024 |
|
2023 |
|
2024 |
|
2023 |
||||
|
(In thousands) |
||||||||||
|
|
|
|
|
|
||||||
Food service technology |
$ |
4,321 |
$ |
4,241 |
|
$ |
11,799 |
$ |
11,594 |
||
POS automation |
|
1,148 |
|
1,644 |
|
|
2,950 |
|
5,345 |
||
Casino and gaming |
|
4,534 |
|
9,019 |
|
|
15,589 |
|
37,002 |
||
TransAct Services Group |
|
864 |
|
2,286 |
|
|
2,815 |
|
5,425 |
||
Total net sales |
$ |
10,867 |
$ |
17,190 |
|
$ |
33,153 |
$ |
59,366 |
||
TRANSACT TECHNOLOGIES INCORPORATED |
||||||||
CONDENSED CONSOLIDATED BALANCE SHEETS |
||||||||
(Preliminary and Unaudited) |
||||||||
|
|
|
|
|
||||
|
|
September 30, |
|
December 31, |
||||
|
|
|
2024 |
|
|
|
2023 |
|
|
|
(In thousands) |
||||||
Assets: |
|
|
|
|
||||
Current assets: |
|
|
|
|
||||
Cash and cash equivalents |
|
$ |
11,343 |
|
|
$ |
12,321 |
|
Accounts receivable, net |
|
|
7,421 |
|
|
|
9,824 |
|
Inventories |
|
|
16,851 |
|
|
|
17,759 |
|
Prepaid income taxes |
|
|
713 |
|
|
|
322 |
|
Other current assets |
|
|
1,079 |
|
|
|
773 |
|
Total current assets |
|
|
37,407 |
|
|
|
40,999 |
|
|
|
|
|
|
||||
Fixed assets, net |
|
|
1,986 |
|
|
|
2,421 |
|
Right-of-use assets, net |
|
|
1,380 |
|
|
|
1,602 |
|
Goodwill |
|
|
2,621 |
|
|
|
2,621 |
|
Deferred tax assets |
|
|
7,034 |
|
|
|
6,304 |
|
Intangible assets, net |
|
|
- |
|
|
|
88 |
|
Other assets |
|
|
75 |
|
|
|
163 |
|
|
|
|
13,096 |
|
|
|
13,199 |
|
Total assets |
|
$ |
50,503 |
|
|
$ |
54,198 |
|
|
|
|
|
|
||||
Liabilities and Shareholders’ Equity: |
|
|
|
|
||||
Current liabilities: |
|
|
|
|
||||
Revolving loan payable |
|
$ |
2,250 |
|
|
$ |
2,250 |
|
Accounts payable |
|
|
3,210 |
|
|
|
4,431 |
|
Accrued liabilities |
|
|
3,883 |
|
|
|
4,947 |
|
Lease liabilities |
|
|
983 |
|
|
|
929 |
|
Deferred revenue |
|
|
926 |
|
|
|
1,079 |
|
Total current liabilities |
|
|
11,252 |
|
|
|
13,636 |
|
|
|
|
|
|
||||
Deferred revenue, net of current portion |
|
|
240 |
|
|
|
209 |
|
Lease liabilities, net of current portion |
|
|
438 |
|
|
|
720 |
|
Other liabilities |
|
|
219 |
|
|
|
219 |
|
|
|
|
897 |
|
|
|
1,148 |
|
Total liabilities |
|
|
12,149 |
|
|
|
14,784 |
|
|
|
|
|
|
||||
Shareholders’ equity: |
|
|
|
|
||||
Common stock |
|
|
141 |
|
|
|
140 |
|
Additional paid-in capital |
|
|
57,857 |
|
|
|
57,055 |
|
Retained earnings |
|
|
12,472 |
|
|
|
14,378 |
|
Accumulated other comprehensive loss, net of tax |
|
|
(6 |
) |
|
|
(49 |
) |
Treasury stock, at cost |
|
|
(32,110 |
) |
|
|
(32,110 |
) |
Total shareholders’ equity |
|
|
38,354 |
|
|
|
39,414 |
|
Total liabilities and shareholders’ equity |
|
$ |
50,503 |
|
|
$ |
54,198 |
|
|
|
|
|
|
TRANSACT TECHNOLOGIES INCORPORATED |
|||||||||||
RECONCILIATION OF GAAP EARNINGS FINANCIAL MEASURES TO CORRESPONDING
|
|||||||||||
(Preliminary and Unaudited, thousands of dollars, except percentages and per share amounts) |
|||||||||||
|
|
Three months ended
|
|||||||||
|
|
Reported |
|
Adjustments(1) |
|
Adjusted
|
|||||
Operating expenses |
|
$ |
6,064 |
|
|
$ |
- |
|
$ |
6,064 |
|
% of net sales |
|
|
55.8 |
% |
|
|
|
|
55.8 |
% |
|
|
|
|
|
|
|
|
|||||
Operating loss |
|
|
(837 |
) |
|
|
- |
|
|
(837 |
) |
% of net sales |
|
|
(7.7 |
)% |
|
|
|
|
(7.7 |
)% |
|
|
|
|
|
|
|
|
|||||
Interest and other income |
|
|
138 |
|
|
|
- |
|
|
138 |
|
Loss before income taxes |
|
|
(699 |
) |
|
|
- |
|
|
(699 |
) |
Income tax benefit |
|
|
148 |
|
|
|
- |
|
|
148 |
|
Net loss |
|
|
(551 |
) |
|
|
- |
|
|
(551 |
) |
Net loss per common share: |
|
|
|
|
|
|
|||||
Basic |
|
$ |
(0.06 |
) |
|
$ |
- |
|
$ |
(0.06 |
) |
Diluted |
|
$ |
(0.06 |
) |
|
$ |
- |
|
$ |
(0.06 |
) |
(1) No adjustments. |
|||||||||||
|
|
Three months ended
|
|||||||||
|
|
Reported |
|
Adjustments(2) |
|
Adjusted Non-GAAP |
|||||
Operating expenses |
|
$ |
7,725 |
|
|
$ |
- |
|
$ |
7,725 |
|
% of net sales |
|
|
44.9 |
% |
|
|
|
|
44.9 |
% |
|
|
|
|
|
|
|
|
|||||
Operating income |
|
|
1,191 |
|
|
|
- |
|
|
1,191 |
|
% of net sales |
|
|
6.9 |
% |
|
|
|
|
6.9 |
% |
|
|
|
|
|
|
|
|
|||||
Interest and other expense |
|
|
(116 |
) |
|
|
- |
|
|
(116 |
) |
Income before income taxes |
|
|
1,075 |
|
|
|
- |
|
|
1,075 |
|
Income tax (expense) |
|
|
(169 |
) |
|
|
- |
|
|
(169 |
) |
Net income |
|
|
906 |
|
|
|
- |
|
|
906 |
|
Net income per common share: |
|
|
|
|
|
|
|||||
Basic |
|
$ |
0.09 |
|
|
$ |
- |
|
$ |
0.09 |
|
Diluted |
|
$ |
0.09 |
|
|
$ |
- |
|
$ |
0.09 |
|
(2) No adjustments. |
|||||||||||
TRANSACT TECHNOLOGIES INCORPORATED
|
|||||||||||
|
|
Nine months ended
|
|||||||||
|
|
Reported |
|
Adjustments(3) |
|
Adjusted
|
|||||
Operating expenses |
|
$ |
19,537 |
|
|
$ |
- |
|
$ |
19,537 |
|
% of net sales |
|
|
58.9 |
% |
|
|
|
|
58.9 |
% |
|
|
|
|
|
|
|
|
|||||
Operating loss |
|
|
(2,576 |
) |
|
|
- |
|
|
(2,576 |
) |
% of net sales |
|
|
(7.8 |
)% |
|
|
|
|
(7.8 |
)% |
|
|
|
|
|
|
|
|
|||||
Interest and other income |
|
|
159 |
|
|
|
- |
|
|
159 |
|
Loss before income taxes |
|
|
(2,417 |
) |
|
|
- |
|
|
(2,417 |
) |
Income tax benefit |
|
|
511 |
|
|
|
- |
|
|
511 |
|
Net loss |
|
|
(1,906 |
) |
|
|
- |
|
|
(1,906 |
) |
Net loss per common share: |
|
|
|
|
|
|
|||||
Basic |
|
$ |
(0.19 |
) |
|
$ |
- |
|
$ |
(0.19 |
) |
Diluted |
|
$ |
(0.19 |
) |
|
$ |
- |
|
$ |
(0.19 |
) |
(3) No adjustments. |
|||||||||||
|
|
Nine months ended
|
||||||||||
|
|
Reported |
|
Adjustments(4) |
|
Adjusted
|
||||||
Operating expenses |
|
$ |
25,801 |
|
|
$ |
(1,461 |
) |
|
$ |
24,340 |
|
% of net sales |
|
|
43.5 |
% |
|
|
|
|
41.0 |
% |
||
|
|
|
|
|
|
|
||||||
Operating income |
|
|
6,228 |
|
|
|
1,461 |
|
|
|
7,689 |
|
% of net sales |
|
|
10.5 |
% |
|
|
|
|
13.0 |
% |
||
|
|
|
|
|
|
|
||||||
Interest and other expense |
|
|
(229 |
) |
|
|
- |
|
|
|
(229 |
) |
Income before income taxes |
|
|
5,999 |
|
|
|
1,461 |
|
|
|
7,460 |
|
Income tax (expense) |
|
|
(1,189 |
) |
|
|
(70 |
) |
|
|
(1,259 |
) |
Net income |
|
|
4,810 |
|
|
|
1,391 |
|
|
|
6,201 |
|
Net income per common share: |
|
|
|
|
|
|
||||||
Basic |
|
$ |
0.48 |
|
|
$ |
0.14 |
|
|
$ |
0.62 |
|
Diluted |
|
$ |
0.48 |
|
|
$ |
0.14 |
|
|
$ |
0.62 |
|
(4) Adjustment includes a severance charge of |
||||||||||||
TRANSACT TECHNOLOGIES INCORPORATED
|
||||||||||||||
|
|
Three months ended |
|
Nine months ended |
||||||||||
|
|
September 30, |
|
September 30, |
||||||||||
|
|
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
||
|
|
(In thousands) |
||||||||||||
|
|
|
|
|
|
|
|
|
||||||
Net (loss) income |
|
$ |
(551 |
) |
|
$ |
906 |
|
$ |
(1,906 |
) |
|
$ |
4,810 |
|
|
|
|
|
|
|
|
|
||||||
Interest (income) expense, net |
|
|
(42 |
) |
|
|
73 |
|
|
(116 |
) |
|
|
207 |
Income tax (benefit) expense |
|
|
(148 |
) |
|
|
169 |
|
|
(511 |
) |
|
|
1,189 |
Depreciation and amortization |
|
|
208 |
|
|
|
381 |
|
|
844 |
|
|
|
1,103 |
|
|
|
|
|
|
|
|
|
||||||
EBITDA |
|
|
(533 |
) |
|
|
1,529 |
|
|
(1,689 |
) |
|
|
7,309 |
|
|
|
|
|
|
|
|
|
||||||
Share-based compensation expense |
|
|
329 |
|
|
|
213 |
|
|
873 |
|
|
|
611 |
Severance charge related to resignation of the Company’s former CEO |
|
|
- |
|
|
|
- |
|
|
- |
|
|
|
1,461 |
|
|
|
|
|
|
|
|
|
||||||
Adjusted EBITDA |
|
$ |
(204 |
) |
|
$ |
1,742 |
|
$ |
(816 |
) |
|
$ |
9,381 |
|
|
|
|
|
|
|
|
|
View source version on businesswire.com: https://www.businesswire.com/news/home/20241107947672/en/
Investor Contact:
Ryan Gardella
ICR, Inc.
Ryan.Gardella@icrinc.com
Source: TransAct Technologies Incorporated
FAQ
What were TransAct Technologies' net sales for Q3 2024?
How many BOHA! Terminals did TransAct Technologies sell in Q3 2024?
What is TransAct Technologies' net loss for Q3 2024?
What is TransAct Technologies' EBITDA for Q3 2024?