Financial Data and Key Metrics Changes - Total net sales for Q4 2025 were $11.5 million, up 12% from $10.2 million in Q4 2024 [19] - Full year 2025 total net sales reached $51.5 million, a 19% increase compared to $43.4 million in 2024 [19] - Adjusted EBITDA for the full year was positive $1.2 million, compared to negative $1.5 million in 2024 [27] - The company ended 2025 with over $20 million in cash, an increase of $6 million from the end of 2024 [28] Business Line Data and Key Metrics Changes - Food Service Technology (FST) sales for Q4 2025 were $4.8 million, up 12% year-over-year [11] - FST recurring revenue reached $3.4 million in Q4 2025, a 24% increase from $2.7 million in Q4 2024 [20] - Casino and gaming sales for Q4 2025 were $5.4 million, up 13% from $4.8 million in Q4 2024 [21] - POS automation sales increased 47% year-over-year to $606,000 in Q4 2025 [22] Market Data and Key Metrics Changes - The installed base of BOHA! terminals reached 7,317 units sold in 2025, a 36% increase from 5,371 units in 2024 [4] - The average revenue per unit (ARPU) for FST in Q4 2025 was $756, down 14% from $875 in Q4 2024 [21] - The company has approximately 40,000 legacy terminals that present opportunities for upgrades [13] Company Strategy and Development Direction - The company is focusing on revenue growth in the FST vertical, with software as the primary growth engine [4] - Strategic investments will be made in marketing and growth initiatives, particularly in software-led solutions [8] - The acquisition of the BOHA! software source code is expected to enhance offerings and capture higher margin recurring revenue [7] - The company aims to transition from a hardware-centric focus to a software-driven solutions provider [10] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the direction of the business in 2026, particularly regarding FST software initiatives [17] - The casino and gaming business is expected to continue generating significant free cash flow despite cyclical fluctuations [16] - The company anticipates net sales for 2026 to be between $55 million and $57 million, with positive adjusted EBITDA expected [17] Other Important Information - The company is refining its go-to-market strategy with an emphasis on competitive pricing and strategic partnerships [8] - A new Chief Marketing Officer has been appointed to lead marketing and growth initiatives [14] - The company plans to maintain a disciplined cost management regimen to target positive adjusted EBITDA [9] Q&A Session Summary Question: How do you see AI programming tools helping your business? - The company uses AI internally to improve efficiency in coding and application development [29] - AI tools will be added to products to help clients optimize decision-making [30] - Management views AI as an opportunity rather than a threat, emphasizing the need for skilled personnel in application development [31][32] Question: Any closing remarks? - Management expressed gratitude for participation and encouraged follow-up discussions [37]

Financial Data and Key Metrics Changes - Total net sales for Q4 2025 were $11.5 million, up 12% from $10.2 million in Q4 2024 [23] - Full year 2025 total net sales reached $51.5 million, a 19% increase compared to $43.4 million in 2024 [23] - Adjusted EBITDA for the full year was positive $1.2 million, compared to negative $1.5 million in 2024 [31] - The company ended 2025 with over $20 million in cash, an increase of $6 million from the end of 2024 [31] Business Line Data and Key Metrics Changes - Food Service Technology (FST) sales for Q4 were $4.8 million, up 12% year-over-year [24] - Full year FST sales were $19.3 million, a 20% increase from $16.1 million in 2024 [24] - Casino and gaming sales for Q4 were $5.4 million, up 13% from $4.8 million in Q4 2024 [25] - Full year casino and gaming sales reached $26.9 million, a 32% increase year-over-year [26] Market Data and Key Metrics Changes - FST recurring revenue for Q4 was $3.4 million, up 24% compared to $2.7 million in the prior year [24] - Average revenue per unit (ARPU) for Q4 was $756, down 14% from $875 in Q4 2024 [25] - POS automation sales for Q4 increased 47% year-over-year to $606,000 [26] Company Strategy and Development Direction - The company is focusing on revenue growth in the FST vertical, with software as the primary growth engine [5] - Plans to leverage the acquisition of the BOHA! software source code to enhance offerings and capture higher margin recurring revenue [9] - Targeting positive adjusted EBITDA for 2026 while making disciplined investments in sales and marketing [10] - Emphasis on competitive pricing and strategic partnerships in high-potential sub-verticals such as quick serve restaurants and corporate food services [10] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the direction of the business in 2026, particularly around FST software initiatives [21] - The casino business is expected to provide stability and significant free cash flow despite cyclical fluctuations [20] - The company aims to maintain fiscal discipline while pursuing growth opportunities [22] Other Important Information - The company is transitioning from a hardware-centric focus to a software-driven solutions provider [13] - New Chief Marketing Officer Dana Loof is expected to enhance marketing and growth initiatives [17] Q&A Session Summary Question: How do you see AI programming tools helping your business? - The company uses AI internally to improve efficiency in coding and application development [33] - AI tools will be added to products to help clients optimize decision-making [34] Question: How does the company view competition from AI technologies? - Management believes that while AI can assist in basic coding, creating engaging applications still requires skilled professionals [35] - The company sees AI as an opportunity to enhance customer interactions rather than a threat [36]