TransAct Technologies Selected by Jet Food Stores for BOHA!® Terminal 2 Deployment

Rhea-AI Summary

TransAct Technologies (Nasdaq: TACT) has announced that Jet Food Stores, a Georgia-based convenience store chain, has selected the BOHA! Terminal 2 for deployment across all 42 of its locations offering fresh food. The rollout, expected to be completed by September, will involve 47 BOHA! Terminals used for date code and Grab n' Go labeling. TransAct anticipates an Average Revenue Per Unit (ARPU) of approximately $1,500.

John Dillon, CEO of TransAct, emphasized that the BOHA! suite of products is ideal for businesses serving fresh food to go, helping reduce labor and waste across operations. The deployment at Jet Food Stores showcases the speed and flexibility of BOHA! Terminal 2, enabling employees to save time and maintain compliance with FDA labeling requirements.

Positive

• Deployment of 47 BOHA! Terminals across 42 Jet Food Stores locations
• Expected ARPU of approximately $1,500 per terminal
• Expansion into the convenience store market with fresh food offerings
• BOHA! Terminal 2 helps reduce labor and waste in food operations

Negative

• None.

Market Research Analyst

The deployment of TransAct Technologies' BOHA! Terminal 2 in Jet Food Stores signifies a strategic expansion within the convenience store market. This move is likely to boost TransAct's revenue stream, given the expected ARPU (Average Revenue Per Unit) of approximately $1,500 per terminal. The total deployment of 47 terminals across 42 locations indicates a substantial commitment from Jet Food Stores, underlining the potential for this partnership to set a precedent for similar deals. The market reaction could be positive as this reinforces TransAct's position in high-growth markets like retail and food service.

Financial Analyst

The financial implications of this rollout are significant. With each terminal generating an ARPU of $1,500, the total expected revenue increase from this deployment alone could be about $70,500. While this might seem modest in the grand scope of overall revenue, it's important to note that recurring revenue models like this can have a compounding effect over time. The deployment also signals operational efficiency and technological advancement, which could lead to further market confidence and potentially lift TACT’s stock price.

Tech Expert

The technological aspect of the BOHA! Terminal 2, especially its capability for date code and Grab n’ Go labeling, is important for compliance with FDA regulations. This feature not only reduces manual labor but also ensures accuracy and compliance, minimizing legal risks for the stores. The speed and flexibility of the terminal can streamline the operations of Jet Food Stores, making it an attractive solution for other retailers. The successful implementation of this technology could set a benchmark, encouraging other chains to adopt similar solutions, thereby expanding TransAct’s market reach.

Rollout to All 42 Locations with Fresh Food Already Underway

HAMDEN, Conn.--(BUSINESS WIRE)-- 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 the BOHA! Terminal 2 has been selected by Jet Food Stores, a privately-owned chain of retail convenience stores in Georgia, for all 42 of its locations that offer fresh food. TransAct expects to complete the full deployment of 47 BOHA! Terminals by September, which will be utilized for date code and Grab n’ Go labeling with an expected ARPU of approximately $1,500.

“Our BOHA! suite of products is the perfect product for any business that serves fresh food to go and is serious about reducing labor and waste across their operations,” said John Dillon, Chief Executive Officer of TransAct. “Our newest deployment with Jet Food Stores across their entire fresh food line of stores highlights the speed and flexibility of BOHA! Terminal 2, allowing employees to save time and stay in compliance with FDA labeling requirements.”

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 Hamden, CT. For more information, please visit http://www.transact-tech.com or call (203) 859-6800.

©2024 TRANSACT Technologies Incorporated. All rights reserved. TransAct^®, BOHA!^®, AccuDate^®, Epic Edge^®, EPICENTRAL^® and Ithaca^® are trademarks of TransAct Technologies Incorporated.

Forward-Looking Statements

Certain statements included in this press release may be forward-looking statements within the meaning of the U.S. federal securities laws, including the Private Securities Litigation Reform Act of 1995. Forward-looking statements are any statements other than statements of historical fact. Forward-looking statements represent current views about possible future events and are often identified by the use of forward-looking terminology, such as "may", "will", "could", "expect", "intend", "estimate", "anticipate", "believe", "project”, "plan”, "predict”, "design" or "continue", or the negative thereof, or other similar words. Forward-looking statements are subject to certain risks, uncertainties and assumptions. In the event that one or more of such risks or uncertainties materialize, or one or more underlying assumptions prove incorrect, actual results may differ materially from those expressed or implied by the forward-looking statements. Important factors and uncertainties that could cause actual results to differ materially from those expressed or implied by the forward-looking statements include, but are not limited to, the following: the adverse effects of current economic conditions on our business, operations, financial condition, results of operations and capital resources, difficulties or delays in manufacturing or delivery of inventory or other supply chain disruptions, inflation and the Russia/Ukraine and Middle East conflicts, an inability of our customers to make payments on time or at all, diversion of management attention, a possible future reduction in the value of goodwill or other intangible assets, inadequate manufacturing capacity or a shortfall or excess of inventory as a result of difficulty in predicting manufacturing requirements due to volatile economic conditions, price increases or decreased availability of component parts or raw materials, exchange rate fluctuations, volatility of and decreases in trading prices of our common stock and the availability of needed financing on acceptable terms or at all; our ability to successfully develop new products that garner customer acceptance and generate sales, both domestically and internationally, in the face of substantial competition; our reliance on an unrelated third party to develop, maintain and host certain web-based food service application software and develop and maintain selected components of our downloadable software applications pursuant to a non-exclusive license agreement, and the risk that interruptions in our relationship with that third party could materially impair our ability to provide services to our food service technology customers on a timely basis or at all and could require substantial expenditures to find or develop alternative software products; our ability to successfully grow our business in the food service technology market; risks associated with the pursuit of strategic initiatives and business growth; general economic conditions; our dependence on contract manufacturers for the assembly of a large portion of our products in Asia; our dependence on significant suppliers; our ability to recruit and retain quality employees; our dependence on third parties for sales outside the United States; marketplace acceptance of new products; risks associated with foreign operations; the availability of third-party components at reasonable prices; price wars, supply chain disruptions or other significant pricing pressures affecting the Company’s products in the United States or abroad; increased product costs or reduced customer demand for our products due to changes in U.S. policy that may result in trade wars or tariffs; our ability to protect intellectual property; and other risk factors identified and discussed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, and other reports filed with the Securities and Exchange Commission. We caution readers not to place undue reliance on forward-looking statements, which speak only as of the date of this release. We undertake no obligation to publicly or otherwise revise any forward-looking statements, whether as a result of new information, future events or other factors, except where we are expressly required to do so by applicable law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240722676012/en/

Investors:

Ryan Gardella

ICR, Inc.

Ryan.Gardella@icrinc.com

Source: TransAct Technologies Incorporated

FAQ

What is the expected deployment timeline for BOHA! Terminal 2 at Jet Food Stores?

TransAct Technologies expects to complete the full deployment of 47 BOHA! Terminals at Jet Food Stores by September.

How many Jet Food Stores locations will receive the BOHA! Terminal 2?

The BOHA! Terminal 2 will be deployed in all 42 Jet Food Stores locations that offer fresh food.

What is the expected ARPU for TransAct Technologies (TACT) from the Jet Food Stores deployment?

TransAct Technologies anticipates an Average Revenue Per Unit (ARPU) of approximately $1,500 for the BOHA! Terminal 2 deployment at Jet Food Stores.

What are the main uses of BOHA! Terminal 2 in Jet Food Stores?

The BOHA! Terminal 2 will be utilized for date code and Grab n' Go labeling in Jet Food Stores locations.