Transact Technologies ( (TACT) ) has released its Q4 earnings. Here is a breakdown of the information Transact Technologies presented to its investors.
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 is known for its innovative solutions tailored to customer needs, marketed under brands like BOHA!™, AccuDate™, and EPICENTRAL®.
In its latest earnings report, TransAct Technologies disclosed a challenging financial year for 2024, with a notable decrease in net sales and profitability compared to the previous year. Despite these challenges, the company achieved its highest quarterly terminal sales since 2020, indicating a strong demand in certain sectors.
Key financial metrics from the report include a 6% sequential and 23% year-over-year decline in net sales for the fourth quarter of 2024, totaling $10.2 million. The company also reported a net loss of $8.0 million for the quarter, influenced by a significant non-cash charge related to deferred tax assets. For the full year, net sales dropped by 40% to $43.4 million, with a net loss of $9.9 million.
Looking ahead, TransAct Technologies is optimistic about its prospects in 2025, expecting net sales to range between $47 million and $52 million. The company is also undergoing a strategic business review to explore options that enhance shareholder value, signaling a commitment to long-term growth and stability.