TransAct Technologies Announces 43% Revenue Growth in Fourth Quarter 2021
TransAct Technologies recorded net sales of $11.1 million for the fourth quarter of 2021, an increase of 43% over the prior year period.
Gross profit for the period was $4.4 million, resulting in a gross margin of 40%, compared to gross profit and gross margin of $2.4 million and 31% respectively in the fourth quarter 2020. Operating loss for the fourth quarter of 2021 was $2.5 million, with a net loss of $0.7 million. Adjusted EBITDA loss was $2.1 million for the fourth quarter of 2021 compared to $1.7 million for the fourth quarter of 2020.
For the year 2021, the group recorded net sales of $39.4 million, an increase of 29% compared to the year 2020. Gross profit was $15.3 million, with a gross margin of 39%. Net loss for 2021 was $4.1 million, while Adjusted EBITDA loss was $7.6 million. Pay terminals on the market were 9,818 as of December 31, 2021, an increase of 73% compared to 5,688 as of December 31, 2020.
“2021 marked many significant milestones for TransAct, including three consecutive quarters of over $2 million in recurring Foodservice Technology (FST) revenue, highlighting our continued pivot to a consistent revenue stream. and reliability from our industry leader BOHA! solutions,” said TransAct President and CEO Bart C. Shuldman.
“We added 4,130 pay terminals during the year, an impressive number despite an incredibly challenging macroeconomic environment on both the demand and supply side, and I couldn’t be more proud of the execution of the team during these times.
“We continue to see strong demand for our BOHA products! products and our Epic Series printers, with a notable increase in orders from international casinos as the world comes back online post-Covid-19 and pent-up demand around the world begins to take shape.