The following is a summary of the TransAct Technologies Incorporated (TACT) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Q2 2024 Total sales improved to $11.6 million, driven by robust sequential revenue growth in the food service technology (FST) sector despite a challenging quarter in the casino and gaming market.

• FST segment demonstrated strong growth with total revenue of $4.2 million, a sequential increase of 27%, and a year-over-year growth of 7%.

• Notable declines in the casino and gaming sector where revenue fell by 56% year-over-year to $5.4 million.

Business Progress:

• Growth in the FST segment driven by sales reorganization and focus on large chains.

• Deployment of BOHA! Terminal 2 across international markets expanding geographic presence.

• Introduced BOHA! Terminal 2 to 200 Italian locations, marking entry into fifth new international market.

• Addition of 13 new BOHA! customers in the quarter, indicative of potential future growth.

Opportunities:

• Strong pipeline for FST suggests ongoing potential for major revenue contributions.

• Operational expansions into new international markets with pending approvals for installations in over 3,500 locations.

Risks:

• Stability in casino and gaming revenue may continue to affect overall performance negatively.

• Continuation of competitive challenges in marketplaces with recent re-entry of key competitors.

More details: TransAct Technologies IR

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