TransAct Technologies (TACT) shares have gained 15.9% in the past three months, outperforming the Zacks Computer and Technology sector, the Zacks Computer - peripheral Equipment industry and the S&P 500 index. This significant outperformance reflects TACT's continued success in expanding its product offerings, securing high-value deals and maintaining robust financial growth. With such impressive gains already on the board, the question remains — Should investors buy, sell or hold the stock now? TransAct Ex ...

Momentum investing is essentially an exception to the idea of "buying low and selling high." Investors following this style of investing are usually not interested in betting on cheap stocks and waiting long for them to recover. Instead, they believe that "buying high and selling higher" is the way to make far more money in lesser time. Everyone likes betting on fast-moving trending stocks, but it isn't easy to determine the right entry point. These stocks often lose momentum when their future growth potent ...

Momentum investors typically don't time the market or "buy low and sell high." In other words, they avoid betting on cheap stocks and waiting long for them to recover. Instead, they believe that "buying high and selling higher" is the way to make far more money in lesser time. Everyone likes betting on fast-moving trending stocks, but it isn't easy to determine the right entry point. These stocks often lose momentum when their future growth potential fails to justify their swelled-up valuation. In that phas ...

TransAct Technologies Incorporated (TACT) came out with a quarterly loss of $0.03 per share versus the Zacks Consensus Estimate of a loss of $0.17. This compares to earnings of $0.22 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 82.35%. A quarter ago, it was expected that this company would post a loss of $0.16 per share when it actually produced a loss of $0.10, delivering a surprise of 37.50%. Over the last four quarters, ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______________ to _______________. Commission file number: 0-21121 TRANSACT TECHNOLOGIES INC (Exact name of registrant as specified in its charter) Delaware ...

TransAct Technologies Incorporated (NASDAQ:TACT) Q1 2024 Earnings Conference Call May 7, 2024 8:30 AM ET Company Participants Ryan Gardella - Investor Relations John Dillon - Chief Executive Officer Steve DeMartino - President and Chief Financial Officer Conference Call Participants Jeff Martin - ROTH MKM Jeff Bernstein - Silverberg Bernstein Capital Operator Good day, ladies and gentlemen and welcome to the TransAct Technologies First Quarter of 2024 Earnings Call. [Operator Instructions] Please note this ...

Exhibit 99.1 TransAct Technologies Reports Preliminary First Quarter 2024 Financial Results Lands Eight New FST Accounts, Representing Potential Terminal Sales of Nearly 1,000 Units Casino and Gaming Sales Begin Normalization Hamden, CT – May 7, 2024 – TransAct Technologies Incorporated (Nasdaq: TACT) ("TransAct" or the "Company"), a global leader in software-driven technology and printing solutions for high-growth markets, today reported preliminary results for the first quarter ended March 31, 2024. "We h ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission file number: 0-21121 TRANSACT TECHNOLOGIES INC (Exact name of registrant as specified in its charter) Delaware 06-1456680 (Stat ...

Financial Data and Key Metrics Changes - Total net sales for Q4 2023 were $13.3 million, down 26% year-over-year, while full year sales reached $72.6 million, up 25% compared to $58.1 million in 2022 [22][76] - Recurring FST sales reached a record high of $3.2 million in Q4 2023, up 33% from $2.4 million in the prior year [12][77] - Full year gross margin improved to 52.9% from 42% in 2022, attributed to higher sales and a better mix of higher-margin products [14] Business Line Data and Key Metrics Changes - FST sales for Q4 2023 were $4.7 million, up 54% year-over-year and 11% sequentially, with full year FST sales at $16.3 million, up 32% from $12.4 million in 2022 [23][77] - Casino and gaming sales for Q4 2023 were $4.2 million, down 62% year-over-year, but full year sales were $41.2 million, up 37% from 2022 [13][19] - POS automation sales decreased 47% year-over-year to $1.6 million in Q4 2023, with full year sales down 35% to $6.9 million [25] Market Data and Key Metrics Changes - The FST pipeline increased by 161% over the past two quarters, indicating significant growth potential [4] - The company added 12 new logos in Q4 2023, focusing on enterprise customers, particularly the top thousand organizations in the U.S. [5][10] - The casino and gaming market is expected to see a return to pre-COVID sales levels, with a projected annual net sales run rate 15% to 20% higher than historical averages [21] Company Strategy and Development Direction - The company is focusing on selling to top enterprise customers and enhancing the BOHA! platform, which is expected to drive future growth [77][80] - Cost-cutting measures have been implemented, resulting in a lower cost structure and improved operational efficiency [6][28] - The management anticipates a gradual improvement in sales momentum throughout 2024, despite the small size of the business [9][49] Management's Comments on Operating Environment and Future Outlook - Management noted a competitive re-entry from a main competitor, which may lead to pricing competition [7] - The company expects the oversupply situation in the market to peak in Q1 2024, with orders anticipated to pick up later in the year [21][47] - Management expressed confidence in the team's ability to drive growth and navigate the current market dynamics [6][9] Other Important Information - The company ended 2023 with $12.3 million in cash, an increase of $4.4 million from the previous year, and minimal debt of $2.25 million [33] - Operating expenses for Q4 2023 decreased by 11% to $6.9 million, reflecting the impact of cost-cutting measures [28] Q&A Session Summary Question: Can you walk through the decline quarter over quarter and the significance of the inventory issue? - Management indicated that the inventory overstock situation would continue into the first half of 2024, with OEMs slowing down orders significantly [47][48] Question: What is the outlook for casino revenues moving forward? - Management expects casino revenues to be lower initially but to ramp up as OEMs work through their inventory issues [52] Question: Can you provide details on the 12 new logos signed in the quarter? - Management stated that the new logos are a mix across various sectors, focusing on organizations capable of placing significant orders [53]

Executive Summary [Preliminary Q4 and Full Year 2023 Overview](index=1&type=section&id=1.1.%20Preliminary%20Q4%20and%20Full%20Year%202023%20Overview) TransAct Technologies reported preliminary financial results for Q4 and full year 2023, showing a significant decline in Q4 net sales but strong growth in full year net sales and Food Service Technology (FST) recurring revenue Q4 2023 (Millions) | Metric | Q4 2023 (Millions) | Q4 2022 (Millions) | Change (%) | | :--- | :--- | :--- | :--- | | Net Sales | $13.3 | $18.0 | -26% | | FST Sales | $4.7 | $3.1 | +54% | | Casino and Gaming Sales | $4.2 | $11.0 | -62% | FY 2023 (Millions) | Metric | FY 2023 (Millions) | FY 2022 (Millions) | Change (%) | | :--- | :--- | :--- | :--- | | Net Sales | $72.6 | $58.1 | +25% | [CEO Commentary and Business Update](index=1&type=section&id=1.2.%20CEO%20Commentary%20and%20Business%20Update) CEO John Dillon highlighted 2023 as a year of positive change, resulting in a stronger and more efficient organization. The company is focused on its FST segment, with positive reception for the new BOHA! Terminal 2 and plans to build momentum in 2024 - The organization emerged from a year of transition stronger, more efficient, and operationally more effective[2](index=2&type=chunk) - The FST segment has the right team in place, selling to enterprise-level organizations with the new BOHA! Terminal 2, which has seen solid customer reception[2](index=2&type=chunk) - In Q4, TransAct added **twelve new logos** to its BOHA! platform and sold **1,235 terminals**, anticipating momentum build-up throughout 2024[2](index=2&type=chunk) Financial Performance Highlights [Fourth Quarter 2023 Financial Highlights](index=1&type=section&id=2.1.%20Fourth%20Quarter%202023%20Financial%20Highlights) TransAct experienced a decline in net sales and a swing to operating and net loss in Q4 2023 compared to Q4 2022, despite strong growth in FST recurring revenue and an improvement in gross margin Q4 2023 Financial Performance (Preliminary and Unaudited) | Metric | Q4 2023 (in thousands) | Q4 2022 (in thousands) | Change (%) | | :--- | :--- | :--- | :--- | | Net Sales | $13,265 | $17,958 | -26.1% | | FST Recurring Revenue | $3,200 | $2,400 | +33.3% | | Gross Profit | $6,371 | $8,219 | -22.5% | | Gross Margin | 48.0% | 45.8% | +2.2 pp | | Operating (Loss) Income | $(522) | $494 | N/A (swing to loss) | | Net (Loss) Income | $(62) | $260 | N/A (swing to loss) | | Diluted EPS | $(0.01) | $0.03 | N/A (swing to loss) | | EBITDA | $338 | $993 | -65.9% | | Adjusted EBITDA | $587 | $1,280 | -54.1% | [Full Year 2023 Financial Highlights](index=1&type=section&id=2.2.%20Full%20Year%202023%20Financial%20Highlights) For the full year 2023, TransAct achieved significant growth in net sales and a return to profitability, with substantial improvements in gross margin, operating income, and net income compared to 2022 FY 2023 Financial Performance (Preliminary and Unaudited) | Metric | FY 2023 (in thousands) | FY 2022 (in thousands) | Change (%) | | :--- | :--- | :--- | :--- | | Net Sales | $72,631 | $58,139 | +25.0% | | FST Recurring Revenue | $11,100 | $8,700 | +27.6% | | Gross Profit | $38,400 | $24,412 | +57.3% | | Gross Margin | 52.9% | 42.0% | +10.9 pp | | Operating Income (Loss) | $5,706 | $(7,677) | N/A (swing to income) | | Net Income (Loss) | $4,748 | $(5,936) | N/A (swing to income) | | Diluted EPS | $0.47 | $(0.60) | N/A (swing to income) | | Adjusted Net Income (Loss) | $5,906 | $(5,936) | N/A (swing to income) | | Adjusted Diluted EPS | $0.59 | $(0.60) | N/A (swing to income) | | EBITDA | $7,647 | $(6,361) | N/A (swing to income) | | Adjusted EBITDA | $9,968 | $(5,206) | N/A (swing to income) | [Sales Performance by Market Segment](index=7&type=section&id=2.3.%20Sales%20Performance%20by%20Market%20Segment) The company's sales performance varied significantly across market segments in Q4 and full year 2023, with strong growth in Food Service Technology and TransAct Services Group, while POS automation and Casino and Gaming experienced declines in Q4 Sales by Market Segment (Preliminary and Unaudited) | Segment | Q4 2023 (in thousands) | Q4 2022 (in thousands) | Q4 Change (%) | FY 2023 (in thousands) | FY 2022 (in thousands) | FY Change (%) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Food service technology | $4,714 | $3,054 | +54.4% | $16,308 | $12,364 | +31.9% | | POS automation | $1,577 | $2,959 | -46.7% | $6,922 | $10,659 | -35.1% | | Casino and gaming | $4,190 | $10,999 | -61.9% | $41,192 | $30,029 | +37.2% | | TransAct Services Group | $2,784 | $946 | +194.3% | $8,209 | $5,087 | +61.4% | | **Total net sales** | **$13,265** | **$17,958** | **-26.1%** | **$72,631** | **$58,139** | **+25.0%** | [Condensed Consolidated Balance Sheets](index=8&type=section&id=2.4.%20Condensed%20Consolidated%20Balance%20Sheets) As of December 31, 2023, TransAct's balance sheet shows an increase in total assets and shareholders' equity compared to the prior year, driven by higher cash and inventories, while total liabilities decreased Condensed Consolidated Balance Sheets (Preliminary and Unaudited) | | December 31, 2023 (In thousands) | December 31, 2022 (In thousands) | | :--- | :--- | :--- | | **Assets:** | | | | Cash and cash equivalents | $12,321 | $7,946 | | Accounts receivable, net | $9,824 | $13,927 | | Employee retention credit receivable | $- | $1,500 | | Inventories | $17,759 | $12,028 | | Other current assets | $1,095 | $724 | | **Total current assets** | **$40,999** | **$36,125** | | Fixed assets, net | $2,421 | $2,781 | | Right-of-use assets, net | $1,602 | $2,488 | | Goodwill | $2,621 | $2,621 | | Deferred tax assets | $6,304 | $7,327 | | Intangible assets, net | $88 | $242 | | Other assets | $163 | $248 | | **Total assets** | **$54,198** | **$51,832** | | **Liabilities and Shareholders' Equity:** | | | | Revolving loan payable | $2,250 | $2,250 | | Accounts payable | $4,431 | $7,395 | | Accrued liabilities | $4,947 | $4,077 | | Lease liabilities | $929 | $875 | | Deferred revenue | $1,079 | $1,329 | | **Total current liabilities** | **$13,636** | **$15,926** | | Deferred revenue, net of current portion | $209 | $143 | | Lease liabilities, net of current portion | $720 | $1,683 | | Other liabilities | $219 | $218 | | **Total liabilities** | **$14,784** | **$17,970** | | Common stock | $140 | $139 | | Additional paid-in capital | $57,055 | $56,282 | | Retained earnings | $14,378 | $9,630 | | Accumulated other comprehensive loss, net of tax | $(49) | $(79) | | Treasury stock, at cost | $(32,110) | $(32,110) | | **Total shareholders' equity** | **$39,414** | **$33,862** | | **Total liabilities and shareholders' equity** | **$54,198** | **$51,832** | Strategic Initiatives and Outlook [Recent Strategic Development](index=2&type=section&id=3.1.%20Recent%20Strategic%20Development) TransAct Technologies has engaged a strategic advisor to help determine the optimal long-term strategy for its business - The Company engaged a strategic advisor to assist in determining the best long-term strategy for its business[6](index=6&type=chunk) [2024 Financial Outlook](index=2&type=section&id=3.2.%202024%20Financial%20Outlook) TransAct provided preliminary financial guidance for the full year 2024, projecting a decrease in total net sales and an approximately breakeven adjusted EBITDA - Full year 2024 total net sales are expected to be between **$53 million and $58 million**[11](index=11&type=chunk) - Full year 2024 total adjusted EBITDA is expected to be **approximately breakeven**[11](index=11&type=chunk) Non-GAAP Financial Measures [Rationale and Definitions](index=3&type=section&id=4.1.%20Rationale%20and%20Definitions) TransAct provides non-GAAP financial measures like EBITDA, Adjusted EBITDA, and Adjusted net income (loss) to offer investors a clearer view of its core operations, excluding non-recurring or non-cash items, for better comparability and evaluation of operating performance - Non-GAAP financial measures (**EBITDA, Adjusted EBITDA, Adjusted net income/loss**) are provided to help investors and others assess the ongoing nature of TransAct's core operations[12](index=12&type=chunk) - **EBITDA** is defined as net income (loss) before net interest expense, income taxes, depreciation, and amortization[13](index=13&type=chunk) - **Adjusted EBITDA** further adjusts EBITDA for share-based compensation, a **$1.5 million severance charge** related to the former CEO's resignation, and other items not reflecting ordinary earnings[14](index=14&type=chunk) [GAAP to Non-GAAP Reconciliations](index=9&type=section&id=4.2.%20GAAP%20to%20Non-GAAP%20Reconciliations) The company provides detailed reconciliations from GAAP net income (loss) to non-GAAP measures such as Adjusted Operating Income, Adjusted Net Income, EBITDA, and Adjusted EBITDA for both quarterly and full-year periods, highlighting specific adjustments like the CEO severance charge Q4 2023 GAAP to Non-GAAP Earnings Reconciliation (Preliminary and Unaudited) | Metric | Reported (thousands) | Adjustments (thousands) | Adjusted Non-GAAP (thousands) | | :--- | :--- | :--- | :--- | | Operating expenses | $6,893 | $- | $6,893 | | % of net sales | 52.0% | | 52.0% | | Operating loss | $(522) | $- | $(522) | | % of net sales | (3.9)% | | (3.9)% | | Interest and other income | $426 | $- | $426 | | Loss before income taxes | $(96) | $- | $(96) | | Income tax benefit | $34 | $- | $34 | | Net loss | $(62) | $- | $(62) | | Diluted EPS | $(0.01) | $- | $(0.01) | FY 2023 GAAP to Non-GAAP Earnings Reconciliation (Preliminary and Unaudited) | Metric | Reported (thousands) | Adjustments (thousands) | Adjusted Non-GAAP (thousands) | | :--- | :--- | :--- | :--- | | Operating expenses | $32,694 | $(1,461) | $31,233 | | % of net sales | 45.0% | | 43.0% | | Operating income | $5,706 | $1,461 | $7,167 | | % of net sales | 7.9% | | 9.9% | | Interest and other income | $197 | $- | $197 | | Income before income taxes | $5,903 | $1,461 | $7,364 | | Income tax (expense) | $(1,155) | $(303) | $(1,458) | | Net income | $4,748 | $1,158 | $5,906 | | Diluted EPS | $0.47 | $0.12 | $0.59 | *Adjustment includes a severance charge of $1,461 incurred in April 2023 related to the resignation of the Company's former Chief Executive Officer.* Net Income (Loss) to EBITDA and Adjusted EBITDA Reconciliation (Preliminary and Unaudited) | Metric | Q4 2023 (thousands) | Q4 2022 (thousands) | FY 2023 (thousands) | FY 2022 (thousands) | | :--- | :--- | :--- | :--- | | Net (loss) income | $(62) | $260 | $4,748 | $(5,936) | | Interest expense, net | $48 | $63 | $255 | $208 | | Income tax (benefit) expense | $(34) | $322 | $1,155 | $(1,965) | | Depreciation and amortization | $386 | $348 | $1,489 | $1,332 | | **EBITDA** | **$338** | **$993** | **$7,647** | **$(6,361)** | | Share-based compensation expense | $249 | $287 | $860 | $1,155 | | Severance charge related to resignation of the Company's former Chief Executive Officer | $- | $- | $1,461 | $- | | **Adjusted EBITDA** | **$587** | **$1,280** | **$9,968** | **$(5,206)** | Company Information and Disclosures [About TransAct Technologies](index=4&type=section&id=5.1.%20About%20TransAct%20Technologies) TransAct Technologies is a global leader in software-driven technology and printing solutions for high-growth markets, offering products under various brands and providing comprehensive services and supplies - TransAct Technologies Incorporated is a global leader in developing and selling software-driven technology and printing solutions for high-growth markets[17](index=17&type=chunk) - The company's solutions cater to food service, casino and gaming, and POS automation markets, sold under brands like BOHA!™, AccuDate™, EPICENTRAL®, Epic, and Ithaca®[17](index=17&type=chunk)[18](index=18&type=chunk) - TransAct has sold **over 3.9 million hardware devices** worldwide and provides world-class service, spare parts, and supplies through its TransAct Services Group[17](index=17&type=chunk) [Cautionary Statements and Forward-Looking Information](index=4&type=section&id=5.2.%20Cautionary%20Statements%20and%20Forward-Looking%20Information) The report includes important disclaimers regarding the preliminary nature of the financial results, which are subject to change, and highlights various risks and uncertainties that could cause actual future results to differ materially from forward-looking statements - The preliminary financial information is inherently uncertain and subject to change as the company finalizes its results and audit for the period ended December 31, 2023[19](index=19&type=chunk) - Forward-looking statements are subject to certain risks, uncertainties, and assumptions, including economic conditions, supply chain disruptions, inflation, and the ability to develop new products, which could cause actual results to differ materially[21](index=21&type=chunk) - Readers are cautioned not to place undue reliance on forward-looking statements, and the company undertakes no obligation to revise them, except as required by law[21](index=21&type=chunk)