TransAct Technologies Files Q3 2024 10-Q

TL;DR

TransAct Tech 10-Q filed. Q3 & YTD financials out. Check it.

AI Summary

TransAct Technologies Inc. filed its 10-Q for the period ending September 30, 2024. The company reported financial results for the third quarter and the first nine months of 2024, detailing revenues, net income, and other key financial metrics. The filing provides a comprehensive overview of the company's performance and financial position during this period.

Why It Matters

This filing provides investors with the latest financial performance data for TransAct Technologies, crucial for understanding the company's current health and future prospects.

Risk Assessment

Risk Level: medium — The risk level is medium due to the inherent volatility in the technology sector and the need to analyze specific financial performance metrics within the 10-Q for a more precise risk assessment.

Key Players & Entities

• TRANSACT TECHNOLOGIES INC (company) — Filer
• 2024-09-30 (date) — Period of Report
• 2024-11-12 (date) — Filing Date
• 0001017303 (company) — Central Index Key

FAQ

Key Financial Figures

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

Filing Documents

• ef20034632_10q.htm (10-Q) — 1242KB
• ef20034632_ex31-1.htm (EX-31.1) — 12KB
• ef20034632_ex31-2.htm (EX-31.2) — 12KB
• ef20034632_ex32-1.htm (EX-32.1) — 6KB
• image01.jpg (GRAPHIC) — 110KB
• 0001140361-24-046203.txt ( ) — 4498KB
• tact-20240930.xsd (EX-101.SCH) — 24KB
• tact-20240930_cal.xml (EX-101.CAL) — 48KB
• tact-20240930_def.xml (EX-101.DEF) — 64KB
• tact-20240930_lab.xml (EX-101.LAB) — 342KB
• tact-20240930_pre.xml (EX-101.PRE) — 186KB
• ef20034632_10q_htm.xml (XML) — 523KB

- Financial Information

PART I - Financial Information: Page Item 1

Financial Statements (unaudited)

Financial Statements (unaudited) Condensed Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023 3 Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2024 and 2023 4 Condensed Consolidated Statements of Comprehensive (Loss) Income for the three and nine months ended September 30, 2024 and 2023 5 Condensed Consolidated Statements of Cash Flows for the nine months ended September 30, 2024 and 2023 6 Condensed Consolidated Statements of Changes in Shareholders' Equity for the three and nine months ended September 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) September 30, 2024 December 31, 2023 Assets: (In thousands, except share data) Current assets: Cash and cash equivalents $ 11,343 $ 12,321 Accounts receivable, net of allowance for expected credit losses of $ 662 and $ 768 7,421 9,824 Inventories 16,851 17,759 Prepaid income taxes 713 322 Other current assets 1,079 773 Total current assets 37,407 40,999 Fixed assets, net of accumulated depreciation of $ 19,305 and $ 18,646 1,986 2,421 Right-of-use assets, net 1,380 1,602 Goodwill 2,621 2,621 Deferred tax assets 7,034 6,304 Intangible assets, net of accumulated amortization of $ 1,606 and $ 1,518 – 88 Other assets 75 163 13,096 13,199 Total assets $ 50,503 $ 54,198 Liabilities and Shareholders' Equity: Current liabilities: Revolving loan payable $ 2,250 $ 2,250 Accounts payable 3,210 4,431 Accrued liabilities 3,883 4,947 Lease liabilities 983 929 Deferred revenue 926 1,079 Total current liabilities 11,252 13,636 Deferred revenue, net of current portion 240 209 Lease liabilities, net of current portion 438 720 Other liabilities 219 219 897 1,148 Total liabilities 12,149 14,784 Commitments and contingencies (see Notes 5 and 7) Shareholders' equity: Common stock, $ 0.01 par value, 20,000,000 shares authorized; 14,055,199 and 14,003,653 shares issued, respectively; 10,010,357 and 9,958,811 shares outstanding, respectively 141 140 Additional paid-in capital 57,857 57,055 Retained earnings 12,472 14,378 Accumulated other comprehensive loss, net of tax ( 6 ) ( 49 ) Treasury stock, at cost ( 4,044,842 shares) ( 32,110 ) ( 32,110 ) Total shareholders' equity 38,354 39,414 Total liabilities and shareholders' equity $ 50,503 $ 54,198 See notes to Condensed Consolidated Financial Statemen

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View this 10-Q filing on SEC EDGAR