Analyst Summary:
TransAct Technologies has reported their preliminary fourth quarter and full year 2022 financial results which have exceeded expectations. The company's net sales have increased by 61% YoY, with casino and gaming sales up by 123% YoY in Q4 2022. FST paid terminals have increased by 24% since 31 December 2021.
Bart C. Shuldman, the Chief Executive Officer of TransAct, states "2022 was a record-breaking year in many respects for TransAct...we continue to increase production to meet the casino printer demand around the world." In addition, Mr. Shuldman mentioned that new potential FST customers and an international QSR restaurant brand have shown interest in the company's products.
TransAct is seeking to deliver shareholder value and consistent profitability going forward. The company is hosting a conference call to discuss their Q4 2022 financial results and future outlook. Investors should note that the company has changed their method of inventory valuation from standard costing to average costing methodology, and has provided non-GAAP financial measures such as EBITDA and adjusted EBITDA to reflect the company's ongoing operations.