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Earnings Call Summary | TransAct Technologies(TACT.US) Q4 2023 Earnings Conference

moomoo AI ·  Mar 12 22:36  · Conference Call

The following is a summary of the TransAct Technologies, Inc. (TACT) Q4 2023 Earnings Call Transcript:

Financial Performance:

  • TransAct reported Q4 revenue of $13.3 million, down 26% year over year, and annual revenue of $72.6 million, up 25% from last year.

  • EBITDA is expected to break even in 2024, with estimated revenues between $53 million and $58 million.

  • The gross margin increased to 48% in Q4 from 45.8% the previous year.

  • The company managed to reduce operating expenses by 11% in Q4 due to cost-cutting and rightsizing efforts.

  • Despite a $522,000 operating loss in Q4, the company posted a $5.7 million operating income for the year. The net income for the year was $4.8 million, despite a Q4 net loss of $62,000.

Business Progress:

  • TransAct sold 1,235 BOHA! Terminals in the Q4 and a total of 14,514 throughout the year.

  • TransAct recently added 12 new FST customers.

  • FST pipeline increased by 161% in the last two quarters. The company projects FST sector growth in 2024 along with a rebound in the casino and gaming market.

  • By the end of '24, the company plans to sell off their high net inventory, valued at $17.8 million at the end of '23.

More details: TransAct Technologies IR

Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

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