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TransAct posts vastly improved Q3 report, with 63% rise in net sales

TransAct Technologies has posted its Q3 results, which showed a 68% rise in net sales compared to 2021.

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Last year's net sales for Q3 totalled $10.6m, while the figure was $17.9m for 2022. Meanwhile, its adjusted EBITDA was $1.2m, a vast improvement on 2021’s minus $1.2m.

Overall, the figures look solid for TransAct, especially the adjusted EBITDA rebound, which Bart Shuldman, CEO of TransAct, commented on in the report: “Our quarterly results broke not only a number of company sales records but also mark the end of our best nine months in sales since 2018.

“This would not be possible without the incredible work of our engineering, operations and sales teams; who have worked tirelessly to get a near record number of casino and POS printers manufactured, sold and delivered in the face of supply shortages – and I cannot thank the TransAct team enough for their efforts.

“This quarter saw continued momentum in our Food Service Technology (FST) business with new records set for total FST revenue at $3.7m and total recurring FST revenue of nearly $2.6m, including label sales.

"Furthermore, with the new additions to our sales force settling in, we have a solid pipeline of opportunities with a number of customer evaluations in progress with world-class organisations.”

Additionally, the report showed that for the nine months ending in September, net sales posted a $40m intake – against last year’s $28.2m for the same period.

Gross profit was up, too, with $16m being made in 2022 vs $11m the previous year.

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