TransAct Technologies Incorporated reported preliminary financial results for the fourth quarter and full year ended December 31, 2024. For Q4 2024, net sales were $10,231 thousand, a decrease from $13,265 thousand in Q4 2023. The full year 2024 net sales totaled $43,384 thousand, down from $72,631 thousand in the prior year.
The company recorded a net loss of $(1,204) thousand, or $(0.12) per share, for Q4 2024, compared to a net loss of $(499) thousand, or $(0.05) per share, in Q4 2023. For the full year 2024, the net loss was $(8,300) thousand, or $(0.83) per share, significantly higher than the $(1,036) thousand net loss, or $(0.10) per share, in FY 2023. A non-cash charge of $7.3 million was recorded against income tax expense in Q4 2024 for a full valuation allowance on deferred tax assets.
Despite the overall revenue decline, the Food Service Technology (FST) segment sold over 1,600 terminals in Q4 2024, marking the highest quarterly number since 2020. Casino and Gaming sales also showed an increase both year-over-year and sequentially. The company's strategic review process remained active at the time of this report.
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