TransAct Technologies Reports Preliminary Fourth Quarter and Full Year 2024 Financial Results

TransAct Technologies Incorporated, a global leader in software-driven technology and printing solutions for high-growth markets, has released its preliminary financial results for the fourth quarter and full year ended December 31, 2024. The company has shown significant developments in its terminal sales and casino and gaming market, despite facing some financial challenges.

Financial Highlights

For the fourth quarter of 2024, TransAct Technologies reported net sales of $10.2 million, a decrease of 6% sequentially and 23% year-over-year. The company experienced a net loss of $(8.0) million, or $(0.79) per diluted share, which includes a $7.3 million non-cash charge to income tax expense. Adjusted net loss for the quarter was $(644) thousand, or $(0.06) per diluted share.

For the full year 2024, net sales were $43.4 million, down 40% compared to 2023. The net loss for the year was $(9.9) million, or $(0.99) per diluted share, including the same $7.3 million non-cash charge. Adjusted net loss for the year was $(2.6) million, or $(0.26) per diluted share.

Business and Operational Highlights

TransAct Technologies sold over 1,600 terminals in the fourth quarter of 2024, marking the highest quarterly number of terminals sold since 2020. The company also reported an increase in quarterly casino and gaming sales both year-over-year and sequentially. However, FST recurring revenue for the fourth quarter was $2.7 million, down 5% sequentially and 15% year-over-year, impacted by the loss of a large customer in mid-2024.

Strategic Initiatives and Corporate Developments

The company is actively engaged in a strategic review process, focusing on options to increase shareholder value. This process remains ongoing, and further updates will be provided as appropriate.

Management's Perspective

John Dillon, Chief Executive Officer of TransAct, highlighted the positive impact of improvements in the company's go-to-market strategy and internal sales motions. He expressed optimism about the sustainability of the new run rate of terminal sales and the stabilization of the casino and gaming market. Dillon also noted that 2025 is expected to be an inflection point where net losses begin to decrease as overall revenue returns to growth.

Future Outlook

For the full year 2025, TransAct Technologies expects net sales to be between $47 million and $52 million. The company also anticipates adjusted EBITDA to be between $0 (breakeven) and negative $2.0 million.

SEC Filing: TRANSACT TECHNOLOGIES INC [ TACT ] - 8-K - Mar. 13, 2025