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what it is
TransAct sells restaurant back-of-house tech and specialty printers for casinos, cash registers, and industrial customers.
how it gets paid
Last year Transact Tech made $51M in revenue.
why it's growing
Revenue shows a huge vs. prior year step-up in the feed— often acquisitions or restatements, not organic 350% growth. 47.6% gross margin still matters because it says product economics are not the main problem.
what just happened
Latest quarter revenue was $11M, up 12% vs. prior year, but profitability still did not show up.
At a glance
C++ balance sheet — some cracks in the foundation
20/100 earnings predictability — expect surprises
12.0% return on capital — nothing to write home about
-$0.99 fy2024 eps est
$43M fy2024 rev est
xvary composite: 40/100 — below average
What they do
TransAct sells restaurant back-of-house tech and specialty printers for casinos, cash registers, and industrial customers.
TransAct wins by selling niche tools people actually use on the job floor, not software dreams on a slide. BOHA! back-of-house systems helped push food service revenue to $19.3 million in 2025, according to recent company results. If your kitchen or casino printer works, you do not rip it out casually because downtime costs real money.
How they make money
$51M
annual revenue · their business grew +349.5% last year
total revenue
$51M
step-up
The products that matter
restaurant operations terminals
BOHA!
7,317 units · +36%
BOHA! terminal sales rose 36% to 7,317 units in 2025. That is real adoption. Here is the catch: unit growth only matters if it creates repeatable revenue and better profit for the whole company.
growth product
food safety labeling systems
AccuDate
$19.3M FST sales · +20%
Food Service Technology generated $19.3M in 2025 revenue, up 20%. This segment matters because it is the cleaner part of the story: operational workflow products that management wants to make stickier over time.
core FST
casino printer hardware
Casino & Gaming Printers
$17.5M · +32%
Casino & Gaming revenue rose 32% to $17.5M in 2025. That helped carry the year. It also means tougher comparisons next, and hardware orders do not always arrive on a smooth schedule.
cash contributor
Key numbers
$51M
annual revenue
You are paying about $36 million in market value for a business that generated about $51 million in annual sales, or roughly 0.7 times revenue.
~-3%
operating margin
Roughly break-even to slightly negative at the operating line— matches “still lost money” in the risk copy, not a healthy +2.7% op margin.
47.6%
gross margin
Gross margin → what is left after direct product costs → so what: the product economics are decent, but overhead is eating the story.
12.0%
return on capital
Return on capital → how much profit the business earns on the money tied up in it → so what: the assets are not the problem, execution is.
Financial health
C++
strength
- balance sheet grade C++ — below average — limited financial resources
- risk rank 3 — safer than 50% of stocks
- price stability 20 / 100
C++ — below average. watch for debt servicing and cash burn.
Total return vs. market
Return history isn't available for TACT right now.
source: institutional data · return history unavailable
What just happened
missed estimates
Latest quarter revenue was $11M, up 12% vs. prior year, but profitability still did not show up.
EPS was -$0.11 in the latest quarter, versus a year-ago loss that was 86% worse. Gross margin reached 47.6%, which tells you the products are not broken. The cost structure is.
$11M
quarter revenue
-$0.11
quarter EPS
47.6%
gross margin
the number that mattered
47.6% gross margin matters most because it says TransAct has room to make money if operating costs stop outrunning revenue.
source: company earnings report, 2026
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What could go wrong
the risk is not abstract. TransAct already proved it can grow. It still has to prove that growth leaves room for profit.
med
More sales, same income statement
TransAct produced $51.5M of 2025 revenue with a 47.6% gross margin and still lost $1.2M. The question is no longer whether demand exists. It is whether demand scales faster than overhead.
If 2026 lands below the $55M–$57M sales guide or adjusted EBITDA stays below the $0.8M low end, the turnaround case gets a lot less interesting.
med
BOHA! depends on one manufacturer
The annual report says BOHA! terminals depend on a single manufacturer in Thailand. That is concentration risk sitting inside the product line management needs most.
A production disruption would hit the 7,317-unit growth engine directly and delay the software-and-service attachment story tied to it.
med
Casino strength gets harder to repeat
Casino & Gaming revenue rose 32% to $17.5M in 2025. Great year. Harder comparison next. Hardware replacement cycles rarely move in a straight line.
At roughly one-third of revenue, any slowdown here would show up quickly. There is no giant buffer segment to hide it.
med
Software trust becomes part of the product
The 10-K flags cybersecurity risk for its software platforms. That matters more when the strategy depends on becoming more recurring and more workflow-critical for restaurant customers.
A breach would not just create cost. It would weaken the exact higher-quality revenue stream management is trying to build.
At $51.5M of revenue, this company is still too small to shrug off even modest misses. If growth slows before profit appears, the stock loses its main argument.
source: institutional data · regulatory filings · risk analysis
Pay attention to
calendar
Q1 2026 earnings report
Estimated for Tuesday, May 12, 2026. You want the first read on whether revenue is tracking toward the $55M–$57M full-year guide.
metric
Adjusted EBITDA versus the $0.8M floor
Management guided to $0.8M–$1.5M of adjusted EBITDA for 2026. If results keep missing the low end, the cost story is not improving where it counts.
trend
BOHA! installs versus profit conversion
7,317 units in 2025 was strong growth. The next step is proving those installs create repeatable revenue and better company-wide margins, not just more hardware shipped.
risk
Thai manufacturing concentration
A single manufacturing source for BOHA! is manageable until it is not. Any disruption would hit the company exactly where management says the future sits.
Analyst rankings
earnings predictability
20 / 100
Low score. In human-speak, analysts do not see this as a clean, steady earnings story.
balance sheet grade
C++
Below-average balance sheet quality. You have some room, but not the kind that lets management miss repeatedly.
source: institutional data
Institutional activity
institutional ownership data for TACT is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$4
current price
n/a
target midpoint · n/a from current
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