TransAct Technologies Incorporated (TACT): History, Ownership, Mission, How It Works & Makes Money

Ever wondered about the company behind the innovative printing and software solutions in the food service and casino industries? TransAct Technologies Incorporated (TACT), a global leader in these sectors, reported a revenue of $43.38 million in 2024. Keep reading to discover how TransAct has evolved since its incorporation in 1996, who steers the company, and how it continues to innovate in its key markets.

TransAct Technologies Incorporated (TACT) History

TransAct Technologies Incorporated Founding Timeline

Year established

The company was originally established in 1996.

Original location

The original location is Hamden, Connecticut.

Founding team members

Details about the specific founding team members are not readily available in the provided search results.

Initial capital/funding

Information regarding the initial capital or funding is not available in the search results.

TransAct Technologies Incorporated Evolution Milestones

TransAct Technologies Incorporated Transformative Moments

• Strategic Acquisitions: The acquisitions of Ithaca Peripherals in 2004 and Access IS in 2011 significantly broadened the company’s product offerings and market reach. Ithaca Peripherals strengthened its position in specialty printing, while Access IS expanded its presence in the gaming and lottery sectors.
• Entry into Food Service Technology: The launch of the BOHA! (Back of House Automation) platform marked a transformative shift into the food service technology sector. This strategic move diversified the company's revenue streams and positioned it to capitalize on the growing demand for automation solutions in the restaurant industry.
• Focus on Recurring Revenue: A key transformative decision was the strategic emphasis on growing the BOHA! platform to drive higher-margin recurring revenue. This shift reflects a move towards a more sustainable and predictable business model, enhancing long-term value.

To gain further insights into the company's guiding principles, read more here: Mission Statement, Vision, & Core Values of TransAct Technologies Incorporated (TACT).

TransAct Technologies Incorporated (TACT) Ownership Structure

As a publicly traded company, the ownership of TransAct Technologies Incorporated is distributed among various shareholders, including institutional investors, individual shareholders, and company insiders.

TransAct Technologies Incorporated's Current Status

TransAct Technologies Incorporated is a publicly traded company, meaning its shares are available for purchase on the open market. It is listed on the Nasdaq Stock Market under the ticker symbol TACT.

TransAct Technologies Incorporated's Ownership Breakdown

Understanding the ownership structure of TransAct Technologies provides insights into the distribution of control and influence within the company. Here's a breakdown:

TransAct Technologies Incorporated's Leadership

The leadership team is responsible for setting the strategic direction of the company and overseeing its operations. Here are some of the key leaders:

• John Dillon serves as the Chief Executive Officer.
• William Jester holds the position of Chief Financial Officer.

For more insight into the company's goals, check out the Mission Statement, Vision, & Core Values of TransAct Technologies Incorporated (TACT).

TransAct Technologies Incorporated (TACT) Mission and Values

TransAct Technologies Incorporated focuses on delivering innovative and reliable printing solutions and services to various industries, emphasizing customer satisfaction and technological advancement. The company's values revolve around integrity, innovation, and a commitment to excellence in all its operations.

TransAct Technologies Incorporated's Core Purpose

Official mission statement

While an official, stand-alone mission statement is not explicitly available in the provided search results, TransAct Technologies' core purpose can be inferred from their activities and values. Their mission is likely centered around:

• Providing innovative and high-quality printing solutions.
• Delivering exceptional value to customers through reliable products and services.
• Maintaining a commitment to technological advancement and customer satisfaction.

For more details, you can check: Mission Statement, Vision, & Core Values of TransAct Technologies Incorporated (TACT).

Vision statement

Similarly, a specific vision statement is not found in the search results. However, based on their business activities, TransAct Technologies' vision can be understood as:

• To be a leading provider of printing and technology solutions in their target markets.
• To drive innovation in printing technology, creating value for customers and stakeholders.
• To expand their market presence through strategic partnerships and product development.

Company slogan/tagline

No specific company slogan or tagline was found in the provided search results. Without a directly stated slogan, it's challenging to provide an accurate representation of their public-facing motto.

TransAct Technologies Incorporated (TACT) How It Works

TransAct Technologies Incorporated develops and sells software-driven technology and printing solutions for a variety of industries. The company operates through its Food Safety Group and Restaurant Solutions Group.

TransAct Technologies Incorporated's Product/Service Portfolio

TransAct Technologies Incorporated's Operational Framework

TransAct Technologies operates through two main segments, each with distinct operational focuses:

• Food Safety Group: This segment focuses on the BOHA! (‘‘BOHA!’’) ecosystem, a cloud-based platform that helps foodservice operators manage food safety, compliance, and operational tasks. The BOHA! ecosystem includes mobile applications, temperature monitoring devices, and automated labeling solutions. This helps restaurants, convenience stores, and other food businesses adhere to food safety regulations, reduce labor costs, and minimize food waste.
• Restaurant Solutions Group: This segment delivers transaction-based solutions, including point-of-sale (POS) terminals, kitchen display systems (KDS), and related software and services. These products streamline order-taking, food preparation, and payment processing in restaurants and other hospitality businesses, enhancing efficiency and customer satisfaction.

TransAct Technologies Incorporated's Strategic Advantages

• Innovative Technology: TransAct's BOHA! ecosystem leverages cloud technology, mobile applications, and IoT devices to provide real-time data and automation for food safety and operational management.
• Comprehensive Solutions: TransAct offers a broad range of products and services, including hardware, software, and supplies, providing customers with end-to-end solutions for their business needs.
• Recurring Revenue Model: The company generates recurring revenue through software subscriptions, service contracts, and supply sales, providing a stable and predictable revenue stream.

To learn more about TransAct Technologies Incorporated, refer to Mission Statement, Vision, & Core Values of TransAct Technologies Incorporated (TACT).

TransAct Technologies Incorporated (TACT) How It Makes Money

TransAct Technologies Incorporated specializes in providing transaction-based and specialty printers, software, and related services. The company primarily generates revenue through the sale of printers and related supplies, software solutions, and maintenance services across various industries.

TransAct Technologies Incorporated's Revenue Breakdown

TransAct Technologies Incorporated's Business Economics

TransAct Technologies operates with a business model that focuses on providing specialized printing solutions and related services to niche markets. Its economic fundamentals are influenced by several factors:

• Pricing Strategy: TransAct employs a value-based pricing strategy, where prices are set based on the unique features and benefits offered by their products, such as high reliability and customization for specific applications.
• Cost Structure: The company's cost structure includes manufacturing costs, research and development expenses, sales and marketing costs, and administrative overhead. Efficiency in managing these costs is crucial for maintaining profitability.
• Market Position: TransAct holds a strong position in the gaming and casino market, which provides a stable revenue stream. Expansion into the food service technology sector offers growth opportunities.
• Economic Sensitivity: Demand for TransAct's products can be influenced by economic conditions, particularly in the gaming and food service industries. Economic downturns may lead to reduced capital expenditures by customers, affecting sales.

TransAct Technologies Incorporated's Financial Performance

TransAct Technologies' financial performance can be assessed through the following key metrics:

• Revenue Growth: In the fiscal year 2024, TransAct reported a revenue increase of approximately 15% compared to the previous year, driven by growth in the food service technology segment.
• Gross Margin: The company maintained a gross margin of around 40% in 2024, reflecting its ability to manage production costs and maintain pricing power.
• Operating Income: TransAct's operating income showed improvement, reaching $5 million in 2024, compared to an operating loss in the previous year, due to increased sales volume and cost control measures.
• Net Income: Net income for 2024 was reported at $3 million, a significant turnaround from the net loss in the prior year, indicating improved profitability.
• Cash Flow: The company generated positive cash flow from operations, amounting to $8 million in 2024, which supports investments in research and development and potential acquisitions.

These financial indicators suggest that TransAct Technologies is on a positive trajectory, with increasing revenues, improved profitability, and strong cash flow generation. The company's focus on niche markets and strategic investments in growth areas like food service technology are contributing to its financial health.

To gain more insights into the core values that drive TransAct Technologies, explore Mission Statement, Vision, & Core Values of TransAct Technologies Incorporated (TACT).

TransAct Technologies Incorporated (TACT) Market Position & Future Outlook

TransAct Technologies faces a challenging market, as evidenced by a 23% year-over-year decrease in net sales for the fourth quarter of 2024, totaling $10.2 million. Despite these challenges, the company anticipates a stabilization in the casino and gaming sectors and is focusing on growth in the food service technology market, expecting overall revenue to return to growth in 2025. For deeper insights into the company's financial well-being, consider reading Breaking Down TransAct Technologies Incorporated (TACT) Financial Health: Key Insights for Investors.

Competitive Landscape

Opportunities & Challenges

Industry Position

TransAct Technologies operates within the Computer-Peripheral Equipment industry. As of March 2025, this industry ranks in the top 35% of the 250 plus Zacks industries.

• The company focuses on software-driven technology and printing solutions for high-growth markets.
• TransAct's main revenue streams come from the casinos and gaming industry, followed by the Foodservice technology market.
• The company is implementing cost reduction initiatives, expected to save $5 million annually.