Transact Technologies ( (TACT) ) has released its Q3 earnings. Here is a breakdown of the information Transact Technologies presented to its investors.
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TransAct Technologies Incorporated is a global leader in developing and selling software-driven technology and printing solutions for high-growth markets such as food service, casino and gaming, and POS automation, with products tailored to customer requirements under brands like BOHA!, Epicentral, and Ithaca.
TransAct Technologies reported its preliminary financial results for the third quarter of 2024, highlighting a challenging period but also showcasing growth in some areas. The company sold over 1,350 terminals during the quarter and added 12 new FST customers, indicating potential future growth opportunities.
The company’s net sales for the third quarter were $10.9 million, reflecting a 37% decrease compared to the same period in 2023, largely due to normalizing demand in the casino and gaming printer market. Despite this, FST recurring revenue saw a slight sequential increase. TransAct reported a net loss of $551,000, or $0.06 per diluted share, contrasting with a net income of $906,000 in Q3 2023. The adjusted EBITDA was reported as negative $204,000.
TransAct is continuing its strategic business review with Roth Capital Partners, LLC, as it seeks to optimize outcomes for stakeholders and maximize shareholder value. The company remains focused on refining its sales and market execution strategies to improve conversion rates.
Looking ahead, TransAct Technologies expects full-year 2024 net sales to range between $43 million and $45 million and continues to anticipate negative adjusted EBITDA between $1 million and $2 million, signaling cautious optimism for improved financial performance in 2025.
