TransAct Technologies Files Q2 2024 10-Q

TL;DR

TransAct Tech 10-Q filed. Q2 2024 results are in.

AI Summary

TransAct Technologies Inc. filed its 10-Q for the period ended June 30, 2024. The company, headquartered in Hamden, CT, reported financial results for the second quarter of 2024. Key financial data and operational details for the period are detailed within this filing.

Why It Matters

This filing provides investors and analysts with the official financial performance and operational status of TransAct Technologies Inc. for the second quarter of 2024.

Risk Assessment

Risk Level: medium — As a public company filing a quarterly report, there are inherent risks associated with financial performance and market conditions that are disclosed within the filing.

Key Players & Entities

• TRANSACT TECHNOLOGIES INC (company) — Filer
• Hamden, CT (location) — Business and Mail Address
• 000-21121 (other) — SEC File Number

FAQ

Key Financial Figures

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

Filing Documents

• ef20031129_10q.htm (10-Q) — 1218KB
• ef20031129_ex10-1.htm (EX-10.1) — 31KB
• ef20031129_ex31-1.htm (EX-31.1) — 12KB
• ef20031129_ex31-2.htm (EX-31.2) — 12KB
• ef20031129_ex32-1.htm (EX-32.1) — 6KB
• image01.jpg (GRAPHIC) — 110KB
• 0001140361-24-036631.txt ( ) — 4510KB
• tact-20240630.xsd (EX-101.SCH) — 24KB
• tact-20240630_cal.xml (EX-101.CAL) — 48KB
• tact-20240630_def.xml (EX-101.DEF) — 64KB
• tact-20240630_lab.xml (EX-101.LAB) — 344KB
• tact-20240630_pre.xml (EX-101.PRE) — 186KB
• ef20031129_10q_htm.xml (XML) — 522KB

- Financial Information

PART I - Financial Information: Page Item 1

Financial Statements (unaudited)

Financial Statements (unaudited) Condensed Consolidated Balance Sheets as of June 30, 2024 and December 31, 2023 3 Condensed Consolidated Statements of Operations for the three and six months ended June 30, 2024 and 2023 4 Condensed Consolidated Statements of Comprehensive (Loss) Income for the three and six months ended June 30, 2024 and 2023 5 Condensed Consolidated Statements of Cash Flows for the six months ended June 30, 2024 and 2023 6 Condensed Consolidated Statements of Changes in Shareholders' Equity for the three and six months ended June 30, 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 14 Item 3

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 26 Item 4

Controls and Procedures

Controls and Procedures 26

- Other Information

PART II - Other Information: Item 1

Legal Proceedings

Legal Proceedings 26 Item 1A

Risk Factors

Risk Factors 26 Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 26 Item 3 Defaults Upon Senior Securities 26 Item 4 Mine Safety Disclosures 26 Item 5 Other Information 26 Item 6 Exhibits 27

SIGNATURES

SIGNATURES 28 2 Index

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Item 1.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS TRANSACT TECHNOLOGIES INCORPORATED C ONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) June 30, 2024 December 31, 2023 Assets: (In thousands, except share data) Current assets: Cash and cash equivalents $ 11,134 $ 12,321 Accounts receivable, net of allowance for expected credit losses of $ 661 and $ 768 6,738 9,824 Inventories 17,636 17,759 Prepaid income taxes 711 322 Other current assets 800 773 Total current assets 37,019 40,999 Fixed assets, net of accumulated depreciation of $ 19,102 and $ 18,646 2,132 2,421 Right-of-use assets 1,605 1,602 Goodwill 2,621 2,621 Deferred tax assets 6,875 6,304 Intangible assets, net of accumulated amortization of $ 1,593 and $ 1,518 13 88 Other assets 99 163 13,345 13,199 Total assets $ 50,364 $ 54,198 Liabilities and Shareholders' Equity: Current liabilities: Revolving loan payable $ 2,250 $ 2,250 Accounts payable 3,043 4,431 Accrued liabilities 3,651 4,947 Lease liabilities 942 929 Deferred revenue 836 1,079 Total current liabilities 10,722 13,636 Deferred revenue, net of current portion 198 209 Lease liabilities, net of current portion 701 720 Other liabilities 215 219 1,114 1,148 Total liabilities 11,836 14,784 Commitments and contingencies (see Notes 5 and 7) Shareholders' equity: Common stock, $ 0.01 par value, 20,000,000 shares authorized; 14,043,149 and 14,003,653 shares issued, respectively; 9,998,307 and 9,958,811 shares outstanding, respectively 140 140 Additional paid-in capital 57,528 57,055 Retained earnings 13,023 14,378 Accumulated other comprehensive loss, net of tax ( 53 ) ( 49 ) Treasury stock, at cost ( 4,044,842 shares) ( 32,110 ) ( 32,110 ) Total shareholders' equity 38,528 39,414 Total liabilities and shareholders' equity $ 50,364 $ 54,198 See notes to Condensed Consolidated Financial Statements. 3 I

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View this 10-Q filing on SEC EDGAR