TransAct Technologies Inc. Files 10-Q for Period Ended March 31, 2024

TL;DR

<b>TransAct Technologies Inc. filed its quarterly report (10-Q) for the period ending March 31, 2024</b>.

AI Summary

TRANSACT TECHNOLOGIES INC (TACT) filed a Quarterly Report (10-Q) with the SEC on May 14, 2024. The filing is a 10-Q for the period ended March 31, 2024. The company's fiscal year ends on December 31. The filing covers the first quarter of 2024. The company is incorporated in Delaware. The business and mailing address is One Hamden Center, 2319 Whitney Avenue, Suite 3B, Hamden, CT 06518.

Why It Matters

For investors and stakeholders tracking TRANSACT TECHNOLOGIES INC, this filing contains several important signals. This 10-Q filing provides an update on the company's financial performance and operational status for the first quarter of 2024. Investors and analysts can use this report to assess the company's financial health, identify trends, and make informed investment decisions.

Risk Assessment

Risk Level: low — TRANSACT TECHNOLOGIES INC shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain any immediate red flags or significant negative developments.

Analyst Insight

Review the detailed financial statements and management's discussion and analysis within the 10-Q to understand the company's performance in Q1 2024.

Key Numbers

• 2024-03-31 — Period End Date (10-Q Filing)
• 2024-05-14 — Filing Date (10-Q Filing)
• 12-31 — Fiscal Year End (Company Data)
• 061456680 — IRS Number (Company Data)
• 000-21121 — SEC File Number (Filing Values)
• 24945633 — Film Number (Filing Values)
• 203-859-6800 — Business Phone (Business Address)

Key Players & Entities

• TRANSACT TECHNOLOGIES INC (company) — Filer
• TACT (company) — Ticker Symbol
• 2024-03-31 (date) — Period of Report
• 2024-05-14 (date) — Filing Date
• DE (jurisdiction) — State of Incorporation
• CT (state) — State in Business Address

FAQ

Industry Context

TransAct Technologies Inc. operates in the computer peripheral equipment sector, specifically focusing on transaction processing technologies.

Regulatory Implications

This filing is made under the Securities Exchange Act of 1934, requiring public companies to submit regular financial reports.

What Investors Should Do

1. Analyze the financial statements (balance sheet, income statement, cash flow) for the quarter ended March 31, 2024.
2. Read the Management's Discussion and Analysis of Financial Condition and Results of Operations section for insights into performance drivers.
3. Note any new risk factors or updates to existing ones disclosed in the filing.

Key Dates

• 2024-03-31: Period End Date — End of the reporting quarter for the 10-Q filing.
• 2024-05-14: Filing Date — Date the 10-Q was officially filed with the SEC.

Year-Over-Year Comparison

This is the initial 10-Q filing for the period ended March 31, 2024, and no prior period comparison data is available within this specific document excerpt.

Key Financial Figures

• $0.01 — ich registered Common stock, par value $0.01 per share TACT NASDAQ Global Market

Filing Documents

• ef20027082_10q.htm (10-Q) — 820KB
• ef20027082_ex31-1.htm (EX-31.1) — 13KB
• ef20027082_ex31-2.htm (EX-31.2) — 13KB
• ef20027082_ex32-1.htm (EX-32.1) — 7KB
• image01.jpg (GRAPHIC) — 110KB
• 0001140361-24-026005.txt (&nbsp;) — 3726KB
• tact-20240331.xsd (EX-101.SCH) — 24KB
• tact-20240331_cal.xml (EX-101.CAL) — 49KB
• tact-20240331_def.xml (EX-101.DEF) — 61KB
• tact-20240331_lab.xml (EX-101.LAB) — 331KB
• tact-20240331_pre.xml (EX-101.PRE) — 181KB
• ef20027082_10q_htm.xml (XML) — 373KB

- Financial Information

PART I - Financial Information: Page Item 1

Financial Statements (unaudited)

Financial Statements (unaudited) Condensed Consolidated Balance Sheets as of March 31, 2024 and December 31, 2023 3 Condensed Consolidated Statements of Operations for the three months ended March 31, 2024 and 2023 4 Condensed Consolidated Statements of Comprehensive (Loss) Income for the three months ended March 31, 2024 and 2023 5 Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 2024 and 2023 6 Condensed Consolidated Statements of Changes in Shareholders' Equity for the three months ended March 31, 2024 and 2023 7 Notes to Condensed Consolidated Financial Statements 8 Item 2

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 15 Item 3

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 24 Item 4

Controls and Procedures

Controls and Procedures 24

- Other Information

PART II - Other Information: Item 1

Legal Proceedings

Legal Proceedings 24 Item 1A

Risk Factors

Risk Factors 24 Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 24 Item 3 Defaults Upon Senior Securities 24 Item 4 Mine Safety Disclosures 24 Item 5 Other Information 24 Item 6 Exhibits 25

SIGNATURES

SIGNATURES 26 2 Index

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Item 1.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS TRANSACT TECHNOLOGIES INCORPORATED C ONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) March 31, 2024 December 31, 2023 Assets: (In thousands, except share data) Current assets: Cash and cash equivalents $ 10,631 $ 12,321 Accounts receivable, net of allowance for expected credit losses of $ 668 and $ 768 7,780 9,824 Inventories 19,171 17,759 Prepaid income taxes 352 322 Other current assets 931 773 Total current assets 38,865 40,999 Fixed assets, net of accumulated depreciation of $ 18,947 and $ 18,646 2,187 2,421 Right-of-use assets 1,371 1,602 Goodwill 2,621 2,621 Deferred tax assets 6,691 6,304 Intangible assets, net of accumulated amortization of $ 1,556 and $ 1,518 50 88 Other assets 133 163 13,053 13,199 Total assets $ 51,918 $ 54,198 Liabilities and Shareholders' Equity: Current liabilities: Revolving loan payable $ 2,250 $ 2,250 Accounts payable 4,226 4,431 Accrued liabilities 4,126 4,947 Lease liabilities 941 929 Deferred revenue 925 1,079 Total current liabilities 12,468 13,636 Deferred revenue, net of current portion 196 209 Lease liabilities, net of current portion 468 720 Other liabilities 215 219 879 1,148 Total liabilities 13,347 14,784 Commitments and contingencies (see Notes 5 and 7) Shareholders' equity: Common stock, $ 0.01 par value, 20,000,000 shares authorized; 14,039,749 and 14,003,653 shares issued, respectively; 9,994,907 and 9,958,811 shares outstanding, respectively 140 140 Additional paid-in capital 57,249 57,055 Retained earnings 13,342 14,378 Accumulated other comprehensive loss, net of tax ( 50 ) ( 49 ) Treasury stock, at cost ( 4,044,842 shares) ( 32,110 ) ( 32,110 ) Total shareholders' equity 38,571 39,414 Total liabilities and shareholders' equity $ 51,918 $ 54,198 See notes to Condensed Consolidated Financial Statements. 3 I

View Full Filing

View this 10-Q filing on SEC EDGAR