TransAct looking forward after transitional 2023

TransAct Technologies CEO John Dillon said the group has emerged “operationally more effective” from a “year of change,” as it reported full-year net sales in 2023 were up 25 per cent year-on-year to US$72.6m.

The company rounded off the year in Q4 with a 26 per cent decline in net sales to $18m. Quarterly casino and gaming sales of $4.2m, meanwhile, translated to a 62 per cent drop year-on-year.

However, TransAct turned round an operating loss of $7.7m in 2022 to operating income of $5.7m in 2023.

Adjusted EBITDA was $10m for 2023 compared to an EBITDA loss of $5.2m for 2022.

TransAct reported that Food Service Technology sales jumped 54 per cent year-on-year to $4.7m.

Dillon said: “On the FST side, we believe that we now have the right team in the right places selling to enterprise-level organizations with our new BOHA! Terminal 2, which has seen a solid reception from customers and prospects so far.

“We added twelve new logos to our BOHA! platform in the fourth quarter and sold 1,235 terminals and believe that we have the opportunity to build momentum throughout the course of 2024.”