US Market News
1 month ago
TransAct Technologies Reports Preliminary First Quarter 2026 Financial ResultsMay 12, 2026 4:05 PM
Business Wire Sold 1,370 BOHA! Terminals in the First Quarter of 2026 First Quarter 2026 Net Sales up 10% and Recurring FST Revenue up 26% Year-over-Year Reiterates 2026 Revenue Guidance of $55 to $57 Million, Increases 2026 Adj. EBITDA Guidance* to $1 Million to $1.75 Million Board of Directors Authorizes $3 Million Share Repurchase Program Company Announces Chief Financial Officer Transition TransAct Technologies Incorporated (Nasdaq: TACT) (“TransAct” or the “Company”), a leading provider of cloud-based software and integrated hardware solutions, today reported preliminary results for the first quarter ended March 31, 2026. “We are pleased to report a solid start to 2026, with first quarter net sales of $14.4 million, up 10% year-over-year, and a return to GAAP profitability,” said John Dillon, Chief Executive Officer of TransAct. “The performance was broad-based, with casino and gaming sales rising 24% year-over-year and generating strong cash flow to support our Food Service Technology initiatives. Recurring FST revenue grew 26% to $3.3 million, driven by robust label sales. Gross margin expanded 160 basis points to 50.3%, resulting in operating income of $0.8 million. “As we sharpen our focus on software growth, we are working diligently to ensure our Terminal users both pay for and realize the full value of our software suite, which we expect will accelerate growth in our recurring revenue base.” First Quarter 2026 Financial Highlights Net Sales: Net sales for the first quarter of 2026 were $14.4 million, up 10% compared to $13.1 million for the first quarter of 2025, driven primarily by a 24% increase in casino and gaming sales. FST Recurring Revenue: FST recurring revenue for the first quarter of 2026 was $3.3 million, which represents an increase of 26% compared to $2.7 million for the first quarter of 2025. Gross Profit: Gross profit for the first quarter of 2026 was $7.3 million, resulting in gross margin of 50.3%, compared to gross profit of $6.4 million for the first quarter of 2025, which delivered a 48.7% gross margin. Operating Income: Operating income for the first quarter of 2026 was $771 thousand, or 5.3% of net sales, compared to an operating loss of $(15) thousand for the first quarter of 2025 and an operating loss of $(1.2) million for the fourth quarter of 2025. Net Income: Net income for the first quarter of 2026 was $766 thousand, or $0.07 per diluted share, based on 10.2 million weighted average diluted shares outstanding. This compares to net income of $19 thousand, or $0.00 per diluted share, for the first quarter of 2025 and a net loss of $(1.1) million, or $(0.11) per diluted share, for the fourth quarter of 2025, each based on 10.1 million weighted average common shares outstanding. EBITDA: EBITDA was $881 thousand for the first quarter of 2026, compared to $221 thousand for the first quarter of 2025 and $(1.0) million for the fourth quarter of 2025. Adjusted EBITDA: Adjusted EBITDA was $1.4 million for the first quarter of 2026, compared to $544 thousand for the first quarter of 2025 and $(499) thousand for the fourth quarter of 2025. Share Repurchase Program Today, the Company announced that its Board of Directors has authorized a share repurchase program of up to $3 million of the Company’s outstanding common stock over the next 12 months. This authorization reflects TransAct’s continued confidence in its strategic direction, strong balance sheet, and long-term growth opportunities, driven by the BOHA!® platform’s recurring revenue model and strengthened by TransAct’s EPIC line of casino and gaming printing solutions. TransAct intends to execute repurchases opportunistically, considering market conditions, share price, and alternative uses of capital. The share repurchase program does not obligate the Company to acquire any specific number of shares and may be modified, suspended, or discontinued at any time. Chief Financial Officer Transition On May 8, 2026, the Company announced the appointment of Robert Campbell as Chief Financial Officer, effective upon the June 30, 2026, retirement of long-time Chief Financial Officer, Steven A. DeMartino. Mr. Campbell has more than 25 years of financial leadership experience across publicly traded and privately held global manufacturing organizations. He has served as the Company’s Controller since June 2022, playing a key role in strengthening financial operations, enhancing reporting and internal controls, and supporting TransAct’s transition toward a recurring revenue model. Mr. DeMartino, who serves as President, Chief Financial Officer, Secretary and Treasurer of the Company, will retire following almost 30 years of service to TransAct. Upon Mr. DeMartino’s retirement, Mr. Campbell will take over as Chief Financial Officer, Secretary and Treasurer, and John Dillon, the Company’s Chief Executive Officer, will assume the title of President of the Company. Mr. DeMartino will remain in an advisory role through the end of the year to support a seamless transition. 2026 Financial Outlook* Net Sales: The Company expects full year 2026 net sales of between $55 million and $57 million. Adjusted EBITDA: The Company now expects full year 2026 adjusted EBITDA to be between $1 million and $1.75 million. *Our outlook for non-GAAP adjusted EBITDA is presented only on a non-GAAP basis because not all of the information necessary for a quantitative reconciliation of this forward-looking non-GAAP financial measure to the most directly comparable GAAP financial measure is available without unreasonable effort, primarily due to uncertainties relating to the occurrence or amount of the adjustments that may arise in the future. If one or more of the currently unavailable items is applicable, some items could be material, individually or in the aggregate, to GAAP reported results. First Quarter 2026 Conference Call and Webcast TransAct is hosting a conference call and webcast on May 12, 2026, beginning at 4:30 p.m. ET to discuss the Company’s preliminary first quarter 2026 results and other matters. Both the call and the webcast are open to the general public. The conference call number is 877-704-4453 and the conference ID number is 13760514. Please call ten minutes prior to the presentation to ensure that you are connected. Interested parties may also access the conference call live on the Internet at www.transact-tech.com (select “About Us” followed by “Investor Relations,” then select “News & Events” followed by “Events & Presentations”). Approximately two hours after the call has concluded, an archived version of the webcast will be available for replay at the same location. Non-GAAP Financial Measures TransAct is providing certain non-GAAP financial measures because the Company believes that these measures are helpful to investors and others in assessing the ongoing nature of what the Company’s management views as TransAct’s core operations. EBITDA and adjusted EBITDA provide the Company with an understanding of one aspect of earnings before the impact of investing and financing charges and income taxes. The Company believes that these non-GAAP financial measures provide relevant and useful information to an investor evaluating the Company’s operating performance because these measures are: (i) widely used by investors to measure a company’s operating performance without regard to items that do not reflect the Company’s ongoing operations and are excluded from the calculation of such measures; (ii) used as financial measurements by lenders and other parties to evaluate creditworthiness; and (iii) used by the Company’s management for various purposes including strategic planning and forecasting and assessing financial performance. The presentation of this non-GAAP information is not considered superior to or a substitute for, and should be read in conjunction with, the financial information prepared in accordance with GAAP. EBITDA is defined as net income (loss) before net interest income (expense), income taxes, depreciation, and amortization. A reconciliation of EBITDA to net income, the most comparable GAAP financial measure, can be found attached to this release. Adjusted EBITDA is defined as net income (loss) before net interest income (expense), income taxes, depreciation and amortization and is adjusted for (1) share-based compensation expense and (2) any other items, when they occur, that we believe do not reflect the ordinary earnings of the Company’s ongoing business. The Company adjusts EBITDA for share-based compensation because the Company considers share-based compensation expense to be a non-cash expense similar to depreciation and amortization. A reconciliation of adjusted EBITDA to net income, the most comparable GAAP financial measure, can be found attached to this release. About TransAct Technologies Incorporated TransAct Technologies Incorporated is a leading provider of cloud-based software and integrated hardware solutions that redefine how organizations connect operations, technology and data to drive measurable business value. Through its BOHA!® solutions, serving over 19,000 foodservice locations worldwide, TransAct combines purpose-built hardware with a cloud-based SaaS platform to help foodservice operators automate food safety, improve operational efficiency and maintain trusted brand relevance. In the casino and gaming market, TransAct’s award-winning EPIC solutions enable ticket-in/ticket-out (TITO) functionality and advanced promotional capabilities that enhance player engagement and drive revenue for operators globally. TransAct also provides a comprehensive portfolio of consumables and service solutions, allowing customers to simplify operations and partner with a single, trusted provider across their technology ecosystem. TransAct is headquartered in Hamden, CT. For more information, please visit http://www.transact-tech.com or call (203) 859-6800. ©2026 TRANSACT Technologies Incorporated. All rights reserved. TransAct®, BOHA!®, AccuDate®, Epic Edge®, EPICENTRAL® and Ithaca® are registered trademarks of TransAct Technologies Incorporated. Cautionary Statement Regarding Preliminary Financial Information The Company has prepared the preliminary financial information set forth below on a materially consistent basis with its historical financial information and in good faith based upon its internal reporting as of and for the three months ended March 31, 2026. This financial information is preliminary and is thus inherently uncertain and subject to change as the Company finalizes its financial results and related review for the three months ended March 31, 2026. During the preparation of the Company’s consolidated financial statements and related notes as of and for the three months ended March 31, 2026, the Company may identify items that could cause its final reported results to be materially different from the preliminary financial information set forth above. As a result, there can be no assurance that the Company’s final results for these periods will not differ from the preliminary financial information. This preliminary financial information should not be viewed as a substitute for full financial statements prepared in accordance with GAAP. In addition, this preliminary financial information is not necessarily indicative of the results to be achieved for any future period. Forward-Looking Statements Certain statements included in this press release are forward-looking statements within the meaning of the U.S. federal securities laws, including the Private Securities Litigation Reform Act of 1995. Forward-looking statements are any statements other than statements of historical fact. Forward-looking statements represent current views about possible future events and are often identified by the use of forward-looking terminology, such as “may”, “will”, “could”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “project”, “plan”, “predict”, “design” or “continue”, or the negative thereof, or other similar words. Forward-looking statements are subject to certain risks, uncertainties and assumptions. In the event that one or more of such risks or uncertainties materialize, or one or more underlying assumptions prove incorrect, actual results may differ materially from those expressed or implied by the forward-looking statements. Important factors and uncertainties that could cause actual results to differ materially from those expressed or implied by the forward-looking statements include, but are not limited to, the following: the adverse effects of current economic conditions on our business, operations, financial condition, results of operations and capital resources; our ability to achieve the anticipated benefits of our acquisition of a licensed copy of the source code for the BOHA! software and risks to our reputation and business relating to the source code transition; our ability to successfully transition the BOHA! source code to our platform and systems and, until such transition is complete, our continued reliance on third parties to host and support our FST offerings; difficulties or delays in manufacturing or delivery of inventory or other supply chain disruptions; our dependence on a single contract manufacturer for the assembly of a large portion of our products in Asia; the imposition of additional duties, tariffs, quotas, taxes, trade barriers, capital flow restrictions and other charges on imports and exports by the United States or the governments of the countries in which we or our manufacturers and suppliers operate; the Russia/Ukraine and Middle East conflicts; inadequate manufacturing capacity or a shortfall or excess of inventory as a result of difficulty in predicting manufacturing requirements due to volatile economic conditions; price increases, decreased availability of third-party component parts or raw materials at reasonable prices, price wars or significant pricing pressures affecting the Company’s products in the United States or abroad; increased product costs or reduced customer demand for our products in the United States or abroad, including as a result of trade wars, tariffs or other trade actions; our ability to successfully develop new products that garner customer acceptance and generate sales, both domestically and internationally, in the face of substantial competition; any system outages, interruptions or other disruptions to our software applications, including as a result of unexpected errors or mistakes in connection with over-the-air updates; our ability to successfully grow our business in the food service technology market; renewal rates for our subscription-based products; risks associated with the pursuit of strategic initiatives and business growth; our dependence on significant suppliers; our ability to recruit and retain quality employees; our dependence on third parties for sales outside the United States; marketplace acceptance of new products; risks associated with foreign operations; political and policy uncertainties and any adverse economic impacts resulting from such uncertainties; our ability to protect intellectual property; exchange rate fluctuations; the availability of needed financing on acceptable terms or at all; volatility of, and decreases in, trading prices of our common stock; and other risk factors identified and discussed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, and other reports filed with the Securities and Exchange Commission. We caution readers not to place undue reliance on forward-looking statements, which speak only as of the date of this release. We undertake no obligation to publicly or otherwise revise any forward-looking statements, whether as a result of new information, future events or other factors, except where we are expressly required to do so by applicable law. TRANSACT TECHNOLOGIES INCORPORATED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Preliminary and Unaudited) Three months ended
March 31, 2026 2025 (In thousands, except per share data) Net sales $ 14,415 $ 13,053 Cost of sales 7,162 6,694 Gross profit 7,253 6,359 Operating expenses: Engineering, design and product development 1,380 1,635 Selling and marketing 2,197 2,085 General and administrative 2,905 2,654 6,482 6,374 Operating income (loss) 771 (15 ) Interest and other income (expense): Interest, net 66 22 Other, net (48 ) 63 18 85 Income before income taxes 789 70 Income tax expense 23 51 Net income $ 766 $ 19 Net income per common share: Basic $ 0.08 $ 0.00 Diluted $ 0.07 $ 0.00 Shares used in per share calculation: Basic 10,178 10,043 Diluted 10,233 10,054 SUPPLEMENTAL INFORMATION – SALES BY MARKET: (Preliminary and Unaudited) Three months ended
March 31, 2026 2025 (In thousands) Food service technology $ 4,692 $ 4,908 POS automation 620 618 Casino and gaming 8,339 6,719 TransAct services group 764 808 Total net sales $ 14,415 $ 13,053 TRANSACT TECHNOLOGIES INCORPORATED CONDENSED CONSOLIDATED BALANCE SHEETS (Preliminary and Unaudited) March 31, December 31, 2026 2025 Assets: (In thousands) Current assets: Cash and cash equivalents $ 18,841 $ 20,433 Accounts receivable, net 9,024 6,364 Inventories 9,574 10,858 Prepaid income taxes 379 399 Other current assets 894 754 Total current assets 38,712 38,808 Fixed assets, net 1,168 1,243 Right-of-use assets, net 3,347 557 Goodwill 2,621 2,621 Intangible assets, net 1,983 1,503 Other assets 56 37 9,175 5,961 Total assets $ 47,887 $ 44,769 Liabilities and Shareholders’ Equity: Current liabilities: Revolving loan payable $ 3,000 $ 3,000 Accounts payable 4,414 3,539 Accrued liabilities 3,113 4,763 Lease liabilities 503 346 Deferred revenue 1,340 1,400 Total current liabilities 12,370 13,048 Deferred revenue, net of current portion 322 355 Lease liabilities, net of current portion 2,860 215 Other liabilities 47 35 3,229 605 Total liabilities 15,599 13,653 Shareholders’ equity: Common stock 142 141 Additional paid-in capital 60,266 59,824 Retained earnings 4,041 3,275 Accumulated other comprehensive loss, net of tax (51 ) (14 ) Treasury stock, at cost (32,110 ) (32,110 ) Total shareholders’ equity 32,288 31,116 Total liabilities and shareholders’ equity $ 47,887 $ 44,769 TRANSACT TECHNOLOGIES INCORPORATED RECONCILIATION OF NET INCOME TO EBITDA AND ADJUSTED EBITDA NON-GAAP FINANCIAL MEASURES (Preliminary and Unaudited) Three Months Ended March 31, 2026 2025 (In thousands) Net income $ 766 $ 19 Interest income, net (66 ) (22 ) Income tax expense 23 51 Depreciation and amortization 158 173 EBITDA 881 221 Share-based compensation expense 511 323 Adjusted EBITDA $ 1,392 $ 544 View source version on businesswire.com: https://www.businesswire.com/news/home/20260512235350/en/ Investor Contact:
Ryan Gardella
ICR, Inc.
Ryan.Gardella@icrinc.com Original: TransAct Technologies Reports Preliminary First Quarter 2026 Financial Results
US Market News
1 month ago
TransAct Technologies Announces Share Repurchase ProgramMay 12, 2026 4:10 PM
Business Wire Board-Authorized $3 Million Program Approved for One Year TransAct Technologies Incorporated (Nasdaq: TACT) (“TransAct” or the “Company”), a leading provider of cloud-based software and integrated hardware solutions, today announced that its Board of Directors has authorized a share repurchase program of up to $3 million of the Company’s outstanding common stock over the next 12 months. This authorization reflects TransAct’s continued confidence in its strategic direction, strong balance sheet, and long-term growth opportunities, driven by the BOHA!® platform’s recurring revenue model and strengthened by TransAct’s EPIC line of casino and gaming printing solutions. “We believe our current share price does not fully reflect the strength or value of our business, particularly the long-term growth and recurring revenue potential of our BOHA! solutions,” said John Dillon, Chief Executive Officer of TransAct. “As we continue to scale BOHA!, we are building a more predictable, higher-margin revenue stream driven by ARR, which we believe will create meaningful long-term stockholder value. This share repurchase program underscores our commitment to disciplined capital allocation—balancing investment in growth, customer acquisition, and platform expansion with returning capital to stockholders.” TransAct intends to execute repurchases opportunistically, considering market conditions, share price, and alternative uses of capital. Repurchases may be made from time to time in the open market, through privately negotiated transactions, or by other means in accordance with applicable securities laws. Mr. Dillon added, “With improving visibility into recurring revenue streams from BOHA! and continued operational efficiencies, we are well positioned to generate sustainable cash flow and deploy capital in a way that maximizes long-term stockholder returns.” The share repurchase program does not obligate the Company to acquire any specific number of shares and may be modified, suspended, or discontinued at any time. About TransAct Technologies Incorporated
TransAct Technologies Incorporated is a leading provider of cloud-based software and integrated hardware solutions that redefine how organizations connect operations, technology and data to drive measurable business value. Through its BOHA!® solutions, serving over 19,000 foodservice locations worldwide, TransAct combines purpose-built hardware with a cloud-based SaaS platform to help foodservice operators automate food safety, improve operational efficiency and maintain trusted brand relevance. In the casino and gaming market, TransAct’s award-winning EPIC solutions enable ticket-in/ticket-out (TITO) functionality and advanced promotional capabilities that enhance player engagement and drive revenue for operators globally.? TransAct also provides a comprehensive portfolio of consumables and service solutions, allowing customers to simplify operations and partner with a single, trusted provider across their technology ecosystem. TransAct is headquartered in?Hamden, CT. For more information, please visit?transact-tech.com?or call (203) 859-6800. ©2026?TRANSACT Technologies Incorporated. All rights reserved. TransAct® and BOHA!® are registered trademarks of?TransAct Technologies Incorporated. Forward-Looking Statements
Certain statements in this press release include forward-looking statements within the meaning of the U.S. federal securities laws, including the Private Securities Litigation Reform Act of 1995. Forward-looking statements are any statements other than statements of historical fact. Forward-looking statements represent current views about possible future events and are often identified by the use of forward-looking terminology, such as “may,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “believe,” “project,” “plan,” “predict,” “design” or “continue,” or the negative thereof, or other similar words. Forward-looking statements are subject to certain risks, uncertainties and assumptions. In the event that one or more of such risks or uncertainties materialize, or one or more underlying assumptions prove incorrect, actual results may differ materially from those expressed or implied by the forward-looking statements. Important factors and uncertainties that could cause actual results to differ materially from those expressed or implied by the forward-looking statements include, but are not limited to, the following: the adverse effects of current economic conditions on our business, operations, financial condition, results of operations and capital resources; our ability to achieve the anticipated benefits of our acquisition of a licensed copy of the source code for the BOHA! software and risks to our reputation and business relating to the source code transition; our ability to successfully transition the BOHA! source code to our platform and systems and, until such transition is complete, our continued reliance on third parties to host and support our FST offerings; difficulties or delays in manufacturing or delivery of inventory or other supply chain disruptions; our dependence on a single contract manufacturer for the assembly of a large portion of our products in Asia; the imposition of additional duties, tariffs, quotas, taxes, trade barriers, capital flow restrictions and other charges on imports and exports by the United States or the governments of the countries in which we or our manufacturers and suppliers operate; the Russia/Ukraine and Middle East conflicts; inadequate manufacturing capacity or a shortfall or excess of inventory as a result of difficulty in predicting manufacturing requirements due to volatile economic conditions; price increases, decreased availability of third-party component parts or raw materials at reasonable prices, price wars or significant pricing pressures affecting the Company’s products in the United States or abroad; increased product costs or reduced customer demand for our products in the United States or abroad, including as a result of trade wars, tariffs or other trade actions; our ability to successfully develop new products that garner customer acceptance and generate sales, both domestically and internationally, in the face of substantial competition; any system outages, interruptions or other disruptions to our software applications, including as a result of unexpected errors or mistakes in connection with over-the-air updates; our ability to successfully grow our business in the food service technology market; renewal rates for our subscription-based products; risks associated with the pursuit of strategic initiatives and business growth; our dependence on significant suppliers; our ability to recruit and retain quality employees; our dependence on third parties for sales outside the United States; marketplace acceptance of new products; risks associated with foreign operations; political and policy uncertainties and any adverse economic impacts resulting from such uncertainties; our ability to protect intellectual property; exchange rate fluctuations; the availability of needed financing on acceptable terms or at all; volatility of, and decreases in, trading prices of our common stock; and other risk factors identified and discussed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, and other reports filed with the Securities and Exchange Commission. We caution readers not to place undue reliance on forward-looking statements, which speak only as of the date of this release. We undertake no obligation to publicly or otherwise revise any forward-looking statements, whether as a result of new information, future events or other factors, except where we are expressly required to do so by applicable law. View source version on businesswire.com: https://www.businesswire.com/news/home/20260512202564/en/ Ryan Gardella
ICR, Inc.
Ryan.Gardella@icrinc.com Original: TransAct Technologies Announces Share Repurchase Program
US Market News
1 month ago
TransAct Technologies Appoints Robert Campbell as Next Chief Financial OfficerMay 8, 2026 4:05 PM
Business Wire Long-time Chief Financial Officer Steven DeMartino to Retire Leadership Transition Continues to Support Focus on Recurring Revenue Growth TransAct Technologies Incorporated (Nasdaq: TACT) (“TransAct” or the “Company”), a leading provider of cloud-based software and integrated hardware solutions, today announced the appointment of Robert Campbell as Chief Financial Officer, effective upon the June 30, 2026, retirement of long-time Chief Financial Officer, Steven A. DeMartino. Mr. DeMartino, who serves as President, Chief Financial Officer, Secretary and Treasurer of the Company, will retire following almost 30 years of service to TransAct. Upon Mr. DeMartino’s retirement, Mr. Campbell will take over as Chief Financial Officer, Secretary and Treasurer, and John Dillon, the Company’s Chief Executive Officer, will assume the title of President of the Company. Mr. DeMartino will remain in an advisory role through the end of the year to support a seamless transition. Additionally, TransAct announced that William J. DeFrances, the Company’s Principal Accounting Officer, will retire later this year. As part of a planned succession ahead of Mr. DeFrances’ retirement, Mr. Campbell has been named Principal Accounting Officer, effective immediately. Mr. DeFrances will continue to serve as an advisor after his retirement to help ensure a smooth transition. Mr. Campbell has more than 25 years of financial leadership experience across publicly traded and privately held global manufacturing organizations. He has served as the Company’s Controller since June 2022, playing a key role in strengthening financial operations, enhancing reporting and internal controls, and supporting TransAct’s transition toward a recurring revenue model. Prior to joining TransAct, Mr. Campbell held senior finance leadership roles at Lydall, Inc., including Director of Global Treasury and Director of Corporate Accounting, where he was responsible for global treasury operations, SEC reporting, financial consolidations, and capital structure management. Earlier in his career, Mr. Campbell held finance and accounting leadership positions with Fischer Technology Inc., Axsys Technologies, Inc., and other organizations. Mr. Campbell began his career in public accounting and holds a B.S. in Accounting from Central Connecticut State University. “As we continue to expand ARR and build a more predictable, higher-margin revenue stream, strong financial leadership will be critical to enable our strategy,” said John Dillon, Chief Executive Officer of TransAct Technologies. “Bob’s promotion comes at an important time, as we continue to scale our BOHA! cloud-based SaaS platform and strengthen our recurring revenue model.” Mr. Dillon added, “Bob’s deep knowledge of our business and financial operations positions him well to support our next phase of growth and maintain a disciplined approach to stockholder value creation.” “I am honored to step into the role of Chief Financial Officer at this pivotal time for TransAct,” said Mr. Campbell. “We have a strong financial foundation and a compelling opportunity to continue scaling our BOHA! cloud-based SaaS platform. I look forward to supporting TransAct’s further growth and development in both the Food Service Technology and Casino and Gaming markets.” “It has been an honor to guide and serve TransAct during the entirety of its public company life since its IPO in 1996," said Steven DeMartino. "I want to thank TransAct’s employees, Board of Directors, and stockholders for trusting and supporting me throughout my nearly 30-year career at TransAct. I am proud of what we have accomplished to date and, as a stockholder, am supportive of the Company’s strategic direction. Long term, I believe TransAct has a large and growing opportunity in front of it.” Mr. DeMartino continued, “Over the past 30 years, I have helped build a strong financial foundation and leave TransAct well positioned for continued success with a strong balance sheet and financial processes in place. I look forward to following TransAct’s progress in my next chapter." Mr. Dillon stated, “On behalf of the Board and the entire TransAct team, I want to thank Steve for his leadership and lasting contributions over the past three decades. His stewardship has been instrumental in building and sustaining a strong financial foundation and guiding TransAct through multiple phases of growth and transformation.” About TransAct Technologies Incorporated TransAct Technologies Incorporated is a leading provider of cloud-based software and integrated hardware solutions that redefine how organizations connect operations, technology and data to drive measurable business value. Through its BOHA!® solutions, serving over 19,000 foodservice locations worldwide, TransAct combines purpose-built hardware with a cloud-based SaaS platform to help foodservice operators automate food safety, improve operational efficiency and maintain trusted brand relevance. In the casino and gaming market, TransAct’s award-winning EPIC solutions enable ticket-in/ticket-out (TITO) functionality and advanced promotional capabilities that enhance player engagement and drive revenue for operators globally.? TransAct also provides a comprehensive portfolio of consumables and service solutions, allowing customers to simplify operations and partner with a single, trusted provider across their technology ecosystem. TransAct is headquartered in?Hamden, CT. For more information, please visit?transact-tech.com?or call (203) 859-6800. ©2026?TRANSACT Technologies Incorporated. All rights reserved. TransAct® and BOHA!® are registered trademarks of?TransAct Technologies Incorporated. Forward-Looking Statements Certain statements in this press release include forward-looking statements within the meaning of the U.S. federal securities laws, including the Private Securities Litigation Reform Act of 1995. Forward-looking statements are any statements other than statements of historical fact. Forward-looking statements represent current views about possible future events and are often identified by the use of forward-looking terminology, such as “may,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “believe,” “project,” “plan,” predict,” “design” or “continue,” or the negative thereof, or other similar words. Forward-looking statements are subject to certain risks, uncertainties and assumptions. In the event that one or more of such risks or uncertainties materialize, or one or more underlying assumptions prove incorrect, actual results may differ materially from those expressed or implied by the forward-looking statements. Important factors and uncertainties that could cause actual results to differ materially from those expressed or implied by the forward-looking statements include, but are not limited to, the following: the adverse effects of current economic conditions on our business, operations, financial condition, results of operations and capital resources; our ability to achieve the anticipated benefits of our acquisition of a licensed copy of the source code for the BOHA! software and risks to our reputation and business relating to the source code transition; our ability to successfully transition the BOHA! source code to our platform and systems and, until such transition is complete, our continued reliance on third parties to host and support our food service technology offerings; difficulties or delays in manufacturing or delivery of inventory or other supply chain disruptions; our dependence on a single contract manufacturer for the assembly of a large portion of our products in Asia; the imposition of additional duties, tariffs, quotas, taxes, trade barriers, capital flow restrictions and other charges on imports and exports by the United States or the governments of the countries in which we or our manufacturers and suppliers operate; the Russia/Ukraine and Middle East conflicts; inadequate manufacturing capacity or a shortfall or excess of inventory as a result of difficulty in predicting manufacturing requirements due to volatile economic conditions; price increases, decreased availability of third-party component parts or raw materials at reasonable prices, price wars or significant pricing pressures affecting the Company’s products in the United States or abroad; increased product costs or reduced customer demand for our products in the United States or abroad, including as a result of trade wars, tariffs or other trade actions; our ability to successfully develop new products that garner customer acceptance and generate sales, both domestically and internationally, in the face of substantial competition; any system outages, interruptions or other disruptions to our software applications, including as a result of unexpected errors or mistakes in connection with over-the-air updates; our ability to successfully grow our business in the food service technology market; renewal rates for our subscription-based products; risks associated with the pursuit of strategic initiatives and business growth; our dependence on significant suppliers; our ability to recruit and retain quality employees; our dependence on third parties for sales outside the United States; marketplace acceptance of new products; risks associated with foreign operations; political and policy uncertainties and any adverse economic impacts resulting from such uncertainties; our ability to protect intellectual property; exchange rate fluctuations; the availability of needed financing on acceptable terms or at all; volatility of, and decreases in, trading prices of our common stock; and other risk factors identified and discussed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, and other reports filed with the Securities and Exchange Commission. We caution readers not to place undue reliance on forward-looking statements, which speak only as of the date of this release. We undertake no obligation to publicly or otherwise revise any forward-looking statements, whether as a result of new information, future events or other factors, except where we are expressly required to do so by applicable law. View source version on businesswire.com: https://www.businesswire.com/news/home/20260508310479/en/ Ryan Gardella
ICR, Inc.
Ryan.Gardella@icrinc.com Original: TransAct Technologies Appoints Robert Campbell as Next Chief Financial Officer
US Market News
3 months ago
TransAct Technologies Reports Preliminary Fourth Quarter and Full Year 2025 Financial ResultsMarch 10, 2026 4:05 PM
Business Wire
Sold 1,434 Terminals in the Fourth Quarter and 7,317 in Full Year 2025, Representing 36% Full Year-over-Full Year Growth
Welcomed New Chief Marketing Officer, Dana Loof, in the Fourth Quarter
Full Year 2025 Net Sales up 19% and Recurring FST Revenue up 14% Year-over-Year
Guides to 2026 Revenue of $55-$57 Million, Driven by Anticipated High Margin Software Sales
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 fourth quarter and full year ended December 31, 2025.
"We delivered a strong fourth quarter and full year, with BOHA! terminal sales up 36% to 7,317 units for the year and record label revenue in Q4. These results reflect meaningful progress in our go-to-market execution and growing customer adoption of our food service technology (FST) solutions," said John Dillon, Chief Executive Officer of TransAct. “With all rights to the BOHA! software now in hand and full ownership of all associated modifications, innovations and licensing models now secured, we believe that software is unequivocally our growth engine going forward. We're positioned to accelerate innovation, introduce new applications, and drive margin expansion through recurring revenue. Our casino and gaming market also performed well and continues to provide steady cash flow to fund these FST investments. We remain committed to fiscal discipline as we pursue this software-driven transformation to create long-term value for stockholders."
Fourth Quarter 2025 Financial Highlights
Net Sales: Net sales for the fourth quarter of 2025 were $11.5 million, up 12% compared to $10.2 million for the fourth quarter of 2024 as a result of stronger sales in both our casino and gaming and FST markets.
FST Recurring Revenue: FST recurring revenue for the fourth quarter of 2025 was $3.4 million, which represents an increase of 24% compared to $2.7 million for the fourth quarter of 2024.
Gross Profit: Gross profit for the fourth quarter of 2025 was $5.4 million, resulting in gross margin of 47.6%, compared to gross profit of $4.5 million for the fourth quarter of 2024, which delivered a 44.2% gross margin.
Operating loss: Operating loss for the fourth quarter of 2025 was $(1.2) million, compared to operating income of $14 thousand for the third quarter of 2025 and an operating loss of $(1.1) million for the fourth quarter of 2024.
Net (loss) income: Net loss for the fourth quarter of 2025 was $(1.1) million, or $(0.11) per diluted share, based on 10.1 million weighted average common shares outstanding. This compares sequentially to net income for the third quarter of 2025 of $15 thousand, or $(0.00) per diluted share and a net loss for the fourth quarter of 2024 of $(8.0) million, or $(0.79) per diluted share, based on 10.0 million weighted average common shares outstanding. The net loss for the fourth quarter of 2024 includes a $7.3 million non-cash charge to income tax expense to record a full valuation allowance on our deferred tax assets.
Adjusted net loss: Adjusted net loss for the fourth quarter of 2025 was $(1.1) million, or $(0.11) per diluted share, based on 10.1 million weighted average common shares outstanding. This compares to an adjusted net loss for the fourth quarter of 2024 of $(644) thousand, or $(0.06) per diluted share, based on 10.0 million weighted average common shares outstanding. These numbers for the fourth quarter of 2024 exclude the effect of a $7.3 million non-cash charge, or $(0.73) per share, to income tax expense to record a full valuation allowance on our deferred tax assets.
EBITDA: EBITDA was $(1.0) million for the fourth quarter of 2025, compared to $(1.0) million for the fourth quarter of 2024.
Adjusted EBITDA: Adjusted EBITDA was $(499) thousand for the fourth quarter of 2025, compared to$(705) thousand for the fourth quarter of 2024.
Full Year 2025 Financial Highlights
Net Sales: Net sales for the full year 2025 were $51.5 million, up 19% compared to $43.4 million for the full year 2024.
FST Recurring Revenue: FST recurring revenue for the full year 2025 was $12.3 million, up 14% compared to $10.8 million for the full year 2024.
Gross Profit: Gross profit for the full year 2025 was $25.0 million, resulting in gross margin of 48.6%, compared to gross profit of $21.5 million for the full year 2024, which delivered a 49.5% gross margin.
Operating loss: Operating loss for the full year 2025 was $(1.4) million, compared to an operating loss of $(3.6) million for the full year 2024.
Net loss: Net loss for the full year 2025 was $(1.2) million, or $(0.12) per diluted share, based on 10.1 million weighted average common shares outstanding. This compares to a net loss of $(9.9) million for the full year 2024, or $(0.99) per diluted share, based on 10.0 million weighted average common shares outstanding. The net loss for the full year 2024 includes a $7.3 million non-cash charge to income tax expense to record a full valuation allowance on our deferred tax assets.
Adjusted net loss: Adjusted net loss for the full year 2025 was $(1.2) million, or $(0.12) per diluted share, based on 10.1 million weighted average common shares outstanding. This compares to an adjusted net loss for the full year 2024 of $(2.6) million, or $(0.26) per diluted share, based on 10.0 million weighted average common shares outstanding. These numbers for the full year 2024 exclude the effect of a $7.3 million non-cash charge, or $(0.73) per share, to income tax expense to record a full valuation allowance on our deferred tax assets.
EBITDA: EBITDA was $(610) thousand for the full year 2025, compared to $(2.7) million for the full year 2024.
Adjusted EBITDA: Adjusted EBITDA was $1.2 million for the full year 2025, compared to $(1.5) million for the full year 2024.
2026 Financial Outlook
Net Sales: The Company expects full year 2026 net sales of between $55 million and $57 million.
Adjusted EBITDA: The Company expects full year 2026 adjusted EBITDA to be between $800 thousand and $1.5 million.
Our outlook for non-GAAP adjusted EBITDA is presented only on a non-GAAP basis because not all of the information necessary for a quantitative reconciliation of this forward-looking non-GAAP financial measure to the most directly comparable GAAP financial measure is available without unreasonable effort, primarily due to uncertainties relating to the occurrence or amount of the adjustments that may arise in the future. If one or more of the currently unavailable items is applicable, some items could be material, individually or in the aggregate, to GAAP reported results.
2025 Fourth Quarter and Full Year Conference Call and Webcast
TransAct is hosting a conference call and webcast today, March 10, 2026, beginning at 4:30 p.m. ET to discuss the Company’s preliminary fourth quarter and full year 2025 results and other matters. Both the call and the webcast are open to the general public. The conference call number is 877-704-4453 and the conference ID number is 13759103. Please call ten minutes prior to the presentation to ensure that you are connected.
Interested parties may also access the conference call live on the Internet at www.transact-tech.com (select “About Us” followed by “Investor Relations,” then select “News & Events” followed by “Events & Presentations”), or directly at https://transacttech.gcs-web.com/events/event-details/transact-technologies-fourth-quarter-2025-earnings-call. Approximately two hours after the call has concluded, an archived version of the webcast will be available for replay at the same location.
Non-GAAP Financial Measures
TransAct is providing certain non-GAAP financial measures because the Company believes that these measures are helpful to investors and others in assessing the ongoing nature of what the Company’s management views as TransAct’s core operations. EBITDA and adjusted EBITDA provide the Company with an understanding of one aspect of earnings before the impact of investing and financing charges and income taxes. The Company believes that these non-GAAP financial measures provide relevant and useful information to an investor evaluating the Company’s operating performance because these measures are: (i) widely used by investors to measure a company’s operating performance without regard to items that do not reflect the Company’s ongoing operations and are excluded from the calculation of such measures; (ii) used as financial measurements by lenders and other parties to evaluate creditworthiness; and (iii) used by the Company’s management for various purposes including strategic planning and forecasting and assessing financial performance. Adjusted net (loss) income and adjusted net (loss) income per diluted share provide the Company with an understanding of the results of the primary operations of the business by excluding the effects of items such as the $7.3 million non-cash charge to income tax expense in the fourth quarter of 2024 to record a full valuation allowance on the Company’s deferred tax assets that do not reflect the ordinary earnings of the Company’s operations. The Company uses these measures to evaluate period-over-period operating performance because the Company believes this provides a more comparable measure of the Company’s continuing business, as these measures adjust for the special or discrete items that are not reflective of the normal results of the business. The presentation of this non-GAAP information is not considered superior to or a substitute for, and should be read in conjunction with, the financial information prepared in accordance with GAAP.
EBITDA is defined as net (loss) income before net interest income (expense), income taxes, depreciation, and amortization. A reconciliation of EBITDA to net loss, the most comparable GAAP financial measure, can be found attached to this release.
Adjusted EBITDA is defined as net (loss) income before net interest income (expense), income taxes, depreciation and amortization and is adjusted for (1) share-based compensation expense and (2) any other items, when they occur, that we believe do not reflect the ordinary earnings of the Company’s ongoing business. The Company adjusts EBITDA for share-based compensation because the Company considers share-based compensation expense to be a non-cash expense similar to depreciation and amortization. A reconciliation of adjusted EBITDA to net loss, the most comparable GAAP financial measure, can be found attached to this release.
Adjusted net loss is defined as net loss adjusted for (1) significant discrete tax events such as the $7.3 million non-cash charge to income tax expense in the fourth quarter of 2024 to record a full valuation allowance on the Company’s deferred tax assets and (2) any other items, when they occur, that we believe do not reflect the ordinary earnings of the Company’s ongoing business. A reconciliation of adjusted net loss, the most comparable GAAP financial measure, can be found attached to this release.
Adjusted net loss per diluted share is defined as adjusted net loss divided by diluted shares outstanding. A reconciliation of adjusted net loss per diluted share to net loss per diluted share, the most comparable GAAP financial measure, can be found attached to this release.
About TransAct Technologies Incorporated
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’s solutions are designed from the ground up based on customer requirements and are sold under the BOHA!®, AccuDate®, EPICENTRAL®, Epic and Ithaca® brands. TransAct has sold over 4.0 million printers, terminals and other hardware devices around the world and is committed to providing world-class service, spare parts, labels and accessories to support its installed product base. TransAct is headquartered in Hamden, CT. For more information, please visit http://www.transact-tech.com or call (203) 859-6800.
©2026 TRANSACT Technologies Incorporated. All rights reserved. TransAct®, BOHA! ®, AccuDate®, Epic Edge®, EPICENTRAL® and Ithaca® are trademarks of TransAct Technologies Incorporated.
Cautionary Statement Regarding Preliminary Financial Information
The Company has prepared the preliminary financial information set forth below on a materially consistent basis with its historical financial information and in good faith based upon its internal reporting as of and for the three months and full year ended December 31, 2025. This financial information is preliminary and is thus inherently uncertain and subject to change as the Company finalizes its financial results and related review for the three months and audit for the full year ended December 31, 2025. During the preparation of the Company’s consolidated financial statements and related notes as of and for the three months and full year ended December 31, 2025, the Company may identify items that could cause its final reported results to be materially different from the preliminary financial information set forth above. As a result, there can be no assurance that the Company’s final results for these periods will not differ from the preliminary financial information.
This preliminary financial information should not be viewed as a substitute for full financial statements prepared in accordance with GAAP. In addition, this preliminary financial information is not necessarily indicative of the results to be achieved for any future period.
Forward-Looking Statements
Certain statements included in this press release are forward-looking statements within the meaning of the U.S. federal securities laws, including the Private Securities Litigation Reform Act of 1995. Forward-looking statements are any statements other than statements of historical fact. Forward-looking statements represent current views about possible future events and are often identified by the use of forward-looking terminology, such as ”may”, ”will”, ”could”, ”expect”, ”intend”, ”estimate”, “anticipate”, ”believe”, ”project”, ”plan”, ”predict”, ”design” or ”continue”, or the negative thereof, or other similar words. Forward-looking statements are subject to certain risks, uncertainties and assumptions. In the event that one or more of such risks or uncertainties materialize, or one or more underlying assumptions prove incorrect, actual results may differ materially from those expressed or implied by the forward-looking statements. Important factors and uncertainties that could cause actual results to differ materially from those expressed or implied by the forward-looking statements include, but are not limited to, the following: the adverse effects of current economic conditions on our business, operations, financial condition, results of operations and capital resources; our ability to achieve the anticipated benefits of our acquisition of a licensed copy of the source code for the BOHA! software and risks to our reputation and business relating to the source code transition; our ability to successfully transition the BOHA! source code to our platform and systems and, until such transition is complete, our continued reliance on third parties to host and support our FST offerings; difficulties or delays in manufacturing or delivery of inventory or other supply chain disruptions; our dependence on a single contract manufacturer for the assembly of a large portion of our products in Asia; the imposition of additional duties, tariffs, quotas, taxes, trade barriers, capital flow restrictions and other charges on imports and exports by the United States or the governments of the countries in which we or our manufacturers and suppliers operate; the Russia/Ukraine and Middle East conflicts; inadequate manufacturing capacity or a shortfall or excess of inventory as a result of difficulty in predicting manufacturing requirements due to volatile economic conditions; price increases, decreased availability of third-party component parts or raw materials at reasonable prices, price wars or significant pricing pressures affecting the Company’s products in the United States or abroad; increased product costs or reduced customer demand for our products in the United States or abroad, including as a result of trade wars, tariffs or other trade actions; our ability to successfully develop new products that garner customer acceptance and generate sales, both domestically and internationally, in the face of substantial competition; any system outages, interruptions or other disruptions to our software applications, including as a result of unexpected errors or mistakes in connection with over-the-air updates; our ability to successfully grow our business in the food service technology market; renewal rates for our subscription-based products; risks associated with the pursuit of strategic initiatives and business growth; our dependence on significant suppliers; our ability to recruit and retain quality employees; our dependence on third parties for sales outside the United States; marketplace acceptance of new products; risks associated with foreign operations; political and policy uncertainties and any adverse economic impacts resulting from such uncertainties; our ability to protect intellectual property; exchange rate fluctuations; the availability of needed financing on acceptable terms or at all; volatility of, and decreases in, trading prices of our common stock; and other risk factors identified and discussed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024, and other reports filed with the Securities and Exchange Commission. We caution readers not to place undue reliance on forward-looking statements, which speak only as of the date of this release. We undertake no obligation to publicly or otherwise revise any forward-looking statements, whether as a result of new information, future events or other factors, except where we are expressly required to do so by applicable law.
- Financial tables follow-
TRANSACT TECHNOLOGIES INCORPORATED
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Preliminary and Unaudited)
Three months ended
Year ended
December 31,
December 31,
2025
2024
2025
2024
(In thousands, except per share data)
Net sales
$11,453
$10,231
$51,480
$43,384
Cost of sales
6,005
5,710
26,465
21,902
Gross profit
5,448
4,521
25,015
21,482
Operating expenses:
Engineering, design and product development
1,685
1,572
6,701
6,977
Selling and marketing
2,154
2,035
8,433
8,195
General and administrative
2,765
1,964
11,296
9,936
6,604
5,571
26,430
25,108
Operating loss
(1,156
)
(1,050
)
(1,415
)
(3,626
)
Interest and other income (expense):
Interest, net
75
31
198
147
Other, net
(10
)
(132
)
133
(89
)
65
(101
)
331
58
Loss before income taxes
(1,091
)
(1,151
)
(1,084
)
(3,568
)
Income tax expense
(40
)
(6,806
)
(156
)
(6,295
)
Net loss
$(1,131
)
$(7,957
)
$(1,240
)
$(9,863
)
Net loss per common share:
Basic
$(0.11
)
$(0.79
)
$(0.12
)
$(0.99
)
Diluted
$(0.11
)
$(0.79
)
$(0.12
)
$(0.99
)
Shares used in per share calculation:
Basic
10,118
10,014
10,087
9,997
Diluted
10,118
10,014
10,087
9,997
SUPPLEMENTAL INFORMATION – SALES BY MARKET:
(Preliminary and Unaudited)
Three months ended
Year ended
December 31,
December 31,
2025
2024
2025
2024
(In thousands)
Food service technology
$4,808
$4,302
$19,318
$16,101
POS automation
606
411
2,213
3,361
Casino and gaming
5,381
4,759
26,873
20,348
TransAct Services Group
658
759
3,076
3,574
Total net sales
$11,453
$10,231
$51,480
$43,384
TRANSACT TECHNOLOGIES INCORPORATED
CONDENSED CONSOLIDATED BALANCE SHEETS
(Preliminary and Unaudited)
December 31,
December 31,
2025
2024
(In thousands)
Assets:
Current assets:
Cash and cash equivalents
$20,433
$14,394
Accounts receivable, net
6,364
6,507
Inventories
10,858
16,161
Prepaid income taxes
399
401
Other current assets
754
899
Total current assets
38,808
38,362
Fixed assets, net
1,243
1,818
Right-of-use assets, net
557
1,141
Goodwill
2,621
2,621
Intangible assets, net
1,503
-
Other assets
37
92
5,961
5,672
Total assets
$44,769
$44,034
Liabilities and Shareholders’ Equity:
Current liabilities:
Revolving loan payable
$3,000
$3,000
Accounts payable
3,539
4,569
Accrued liabilities
4,763
3,253
Lease liabilities
346
955
Deferred revenue
1,400
1,107
Total current liabilities
13,048
12,884
Deferred revenue, net of current portion
355
246
Lease liabilities, net of current portion
215
231
Other liabilities
35
40
605
517
Total liabilities
13,653
13,401
Shareholders’ equity:
Common stock
141
141
Additional paid-in capital
59,824
58,141
Retained earnings
3,275
4,515
Accumulated other comprehensive loss, net of tax
(14
)
(54
)
Treasury stock, at cost
(32,110
)
(32,110
)
Total shareholders’ equity
31,116
30,633
Total liabilities and shareholders’ equity
$44,769
$44,034
TRANSACT TECHNOLOGIES INCORPORATED
RECONCILIATION OF GAAP EARNINGS FINANCIAL MEASURES TO CORRESPONDING NON-GAAP FINANCIAL MEASURES
(Preliminary and Unaudited, thousands of dollars, except percentages and per share amounts)
Three months ended
December 31, 2025
Reported
Adjustments(1)
Adjusted
Non-GAAP
Operating expenses
$6,604
$-
$6,604
% of net sales
57.7
%
57.7
%
Operating loss
(1,156
)
-
(1,156
)
% of net sales
(10.1
)%
(10.1
)%
Interest and other income
65
-
65
Loss before income taxes
(1,091
)
-
(1,091
)
Income tax expense
(40
)
-
(40
)
Net loss
(1,131
)
-
(1,131
)
Net loss per common share:
Basic
$(0.11
)
$-
$(0.11
)
Diluted
$(0.11
)
$-
$(0.11
)
(1) No adjustments.
Three months ended
December 31, 2024
Reported
Adjustments(2)
Adjusted
Non-GAAP
Operating expenses
$5,571
$-
$5,571
% of net sales
54.5
%
54.5
%
Operating loss
(1,050
)
-
(1,050
)
% of net sales
(10.3
)%
(10.3
)%
Interest and other expense
(101
)
-
(101
)
Loss before income taxes
(1,151
)
-
(1,151
)
Income tax (expense) benefit
(6,806
)
7,313
507
Net loss
(7,957
)
7,313
(644
)
Net loss per common share:
Basic
$(0.79
)
$0.73
$(0.06
)
Diluted
$(0.79
)
$0.73
$(0.06
)
(2) Adjustment includes a $7.3 million non-cash charge to income tax expense in the fourth quarter of 2024 to record a full valuation allowance on the Company’s deferred tax assets.
TRANSACT TECHNOLOGIES INCORPORATED
RECONCILIATION OF GAAP EARNINGS FINANCIAL MEASURES TO CORRESPONDING NON-GAAP FINANCIAL MEASURES
(Preliminary and Unaudited, thousands of dollars, except percentages and per share amounts)
Year ended
December 31, 2025
Reported
Adjustments(3)
Adjusted
Non-GAAP
Operating expenses
$26,430
$-
$26,430
% of net sales
51.3
%
51.3
%
Operating loss
(1,415
)
-
(1,415
)
% of net sales
(2.7
)%
(2.7
)%
Interest and other income
331
-
331
Loss before income taxes
(1,084
)
-
(1,084
)
Income tax expense
(156
)
-
(156
)
Net loss
(1,240
)
-
(1,240
)
Net loss per common share:
Basic
$(0.12
)
$-
$(0.12
)
Diluted
$(0.12
)
$-
$(0.12
)
(3) No adjustments.
Year ended
December 31, 2024
Reported
Adjustments(4)
Adjusted
Non-GAAP
Operating expenses
$25,108
$-
$25,108
% of net sales
57.9
%
57.9
%
Operating loss
(3,626
)
-
(3,626
)
% of net sales
(8.4
)%
(8.4
)%
Interest and other income
58
-
58
Loss before income taxes
(3,568
)
-
(3,568
)
Income tax (expense) benefit
(6,295
)
7,313
1,018
Net loss
(9,863
)
7,313
(2,550
)
Net loss per common share:
Basic
$(0.99
)
$0.73
$(0.26
)
Diluted
$(0.99
)
$0.73
$(0.26
)
(4) Adjustment includes a $7.3 million non-cash charge to income tax expense in the fourth quarter of 2024 to record a full valuation allowance on the Company’s deferred tax assets.
TRANSACT TECHNOLOGIES INCORPORATED
RECONCILIATION OF NET LOSS TO EBITDA AND ADJUSTED EBITDA NON-GAAP FINANCIAL MEASURES
(Preliminary and Unaudited)
Three months ended
Year ended
December 31,
December 31,
2025
2024
2025
2024
(In thousands)
Net loss
$(1,131
)
$(7,957
)
$(1,240
)
$(9,863
)
Interest income, net
(75
)
(31
)
(198
)
(147
)
Income tax expense
40
6,806
156
6,295
Depreciation and amortization
165
193
672
1,037
EBITDA
(1,001
)
(989
)
(610
)
(2,678
)
Share-based compensation expense
502
284
1,802
1,157
Adjusted EBITDA
$(499
)
$(705
)
$1,192
$(1,521
)
View source version on businesswire.com: https://www.businesswire.com/news/home/20260310929495/en/
Investor Contact:
Ryan Gardella
ICR, Inc.
Ryan.Gardella@icrinc.com
Original: TransAct Technologies Reports Preliminary Fourth Quarter and Full Year 2025 Financial Results
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