Cash flow generation remains highly erratic, highlighted by a $1.0 million free cash flow outflow in 2026Q1 compared to a $3.6 million inflow in 2025Q3.
TransAct Technologies Incorporated (TACT) cash flow statement — 30-year operating, investing & financing cash flows
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 | Dec'96 |
|---|
| Cash from Operations | 5.45M | 7.67M | 1.86M | 5.51M | -12.22M | -2.51M | -3.51M | 4.85M | 5.11M | 5.92M | 4.62M | 5.55M | 6.05M | 2.49M | 8.03M | 2.1M | 2.13M | 8.37M | 701K | 2.6M | 3.3M | 2.87M | 8.34M | 1.81M | 3.68M | 1.45M | 333K | 2M | 4M | 3.8M | 2M |
| Operating CF Margin % | - | 14.9% | 4.29% | 7.58% | -21.02% | -6.37% | -11.47% | 10.59% | 9.36% | 10.51% | 8.08% | 9.3% | 11.4% | 4.15% | 11.74% | 3.18% | 3.37% | 14.35% | 1.13% | 5.34% | 5.13% | 5.62% | 13.94% | 3.48% | 9.32% | 3.29% | 0.62% | 4.45% | 7.66% | 6.51% | 4.75% |
| Operating CF Growth % | 408.45% | 312.31% | -66.21% | 145.07% | -386.85% | 28.49% | -172.43% | -5.15% | -13.67% | 28.01% | -16.66% | -8.36% | 142.8% | -68.95% | 283.11% | -1.69% | -74.54% | 1094.44% | -73.08% | -21.09% | 14.86% | -65.56% | 359.92% | -50.69% | 154.6% | 333.93% | -83.35% | -50% | 5.26% | 90% | - |
| Net Income | -400K | -1.24M | -9.86M | 4.75M | -5.94M | -4.04M | -5.63M | 516K | 5.43M | 3.21M | 3.62M | 3.09M | -2.42M | 4.93M | 3.62M | 4.68M | 3.9M | 2.14M | 1.44M | -2.27M | 3.92M | 377K | 5.46M | 1.53M | -692K | -4.92M | -344K | 300K | 1.2M | 4.9M | 3.3M |
| Depreciation & Amortization | 624K | 672K | 1.04M | 1.49M | 1.33M | 957K | 1.34M | 1.37M | 997K | 1.08M | 1.33M | 1.43M | 1.45M | 1.74M | 1.76M | 1.61M | 1.55M | 1.76M | 1.85M | 1.84M | 1.57M | 1.49M | 1.63M | 1.66M | 2.12M | 3.4M | 2.75M | 2.2M | 2M | 1.6M | 1.1M |
| Stock-Based Compensation | 2M | 1.8M | 1.16M | 860K | 1.16M | 1.21M | 0 | 692K | 629K | 609K | 611K | 488K | 506K | 521K | 520K | 587K | 565K | 640K | 803K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Taxes | 0 | 0 | 6.3M | 1.02M | -2.14M | -2.12M | -367K | -294K | -107K | 1.12M | -295K | 878K | -1.56M | 46K | -95K | 519K | 540K | 1M | 592K | -1.84M | 583K | -648K | 380K | 162K | 968K | -2.64M | -78K | 0 | -400K | -100K | -100K |
| Other Non-Cash Items | 16K | -222K | 89K | -30K | 8K | -1.89M | 817K | 34K | 304K | 61K | -2K | -9K | 28K | -69K | -36K | -480K | 2K | -46K | -165K | 1.67M | -240K | 488K | 291K | 169K | 0 | 209K | 0 | -100K | 100K | 0 | 100K |
| Working Capital Changes | 3.21M | 6.66M | 3.14M | -2.58M | -6.64M | 3.38M | 328K | 2.53M | -2.14M | -161K | -639K | -328K | 8.05M | -4.68M | 2.26M | -4.81M | -4.43M | 2.88M | -3.82M | 3.22M | -2.53M | 1.16M | 580K | -1.7M | 1.28M | 5.4M | -2M | -400K | 1.1M | -2.6M | -2.1M |
| Change in Receivables | -2.6M | 179K | 3.31M | 5.75M | -6.42M | -5.72M | 2.98M | 1.59M | 2.69M | -405K | -3.43M | 1.92M | 4.14M | 2.69M | -6.33M | 1.98M | -1.88M | -263K | 5.29M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Inventory | 3.81M | 5.45M | 1.61M | -5.66M | -4.38M | 3.44M | 876K | 796K | -4.05M | 834K | 1.58M | 509K | 1.7M | -3.19M | 3.68M | -568K | -6.85M | 3.97M | -1.46M | -2.05M | -1.53M | 2.04M | -13K | 374K | 2.2M | -776K | 400K | -1.5M | -200K | -1.2M | -1M |
| Change in Payables | 1.09M | -1.02M | 149K | -2.99M | 3.1M | 2.53M | -1.28M | -517K | -332K | -988K | 2.25M | 277K | -2.38M | -1.67M | 3.4M | -5.43M | 3.29M | 187K | 178K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash from Investing | -3.69M | -1.61M | -322K | -901K | -1.3M | 222K | -1.34M | -2.37M | -1.47M | -985K | -600K | -955K | -660K | -746K | -1.1M | -5.25M | -1.1M | -643K | -979K | -2.13M | -2.89M | -3.27M | -1.18M | -930K | -577K | -1.38M | -2.18M | -3.4M | -2.2M | -2.3M | -1.3M |
| Capital Expenditures | -1.72M | -109K | -322K | -901K | -1.3M | -1.38M | -744K | -1.37M | -1.47M | -985K | -608K | -959K | -660K | -751K | -1.12M | -1.26M | -1.11M | -643K | -979K | -2.17M | -2.89M | -2.76M | -1.18M | -1.26M | -577K | -1.38M | -2.42M | -3M | -2.2M | -2.3M | -1.8M |
| CapEx % of Revenue | 3.25% | 0.21% | 0.74% | 1.24% | 2.23% | 3.51% | 2.43% | 2.99% | 2.7% | 1.75% | 1.06% | 1.61% | 1.24% | 1.25% | 1.63% | 1.9% | 1.75% | 1.1% | 1.57% | 4.44% | 4.49% | 5.39% | 1.97% | 2.42% | 1.46% | 3.14% | 4.5% | 6.68% | 4.21% | 3.94% | 4.28% |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 8K | 4K | 0 | 0 | 0 | -4M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | -1.97M | -1.5M | 0 | 0 | 0 | 1.61M | -600K | -1M | -466K | -150K | 8K | 4K | 0 | 5K | 15K | 1K | 10K | 0 | 37K | 37K | 0 | -510K | 0 | 331K | 0 | 2K | 232K | -400K | 0 | 0 | 0 |
| Cash from Financing | -162K | -119K | 634K | -87K | 2.06M | 11.47M | 11.03M | -2.9M | -4.52M | -1.92M | -5.96M | -3.24M | -5.18M | -6.33M | -6.24M | -1.25M | 237K | 290K | -229K | -1.36M | -1.68M | -3.52M | 903K | -1.39M | -2.7M | -618K | 2.6M | 1.1M | -1.7M | -2.2M | 400K |
| Debt Issued (Net) | 0 | 0 | 750K | 0 | 2.25M | 0 | 1.96M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -420K | -2.47M | -2.55M | -500K | -1.16M | 1.3M | 5.5M | -700K | -7.5M |
| Equity Issued (Net) | 0 | 0 | 0 | 0 | 0 | 12.21M | 9.11M | 0 | -2M | -381K | -3.57M | -1.02M | -2.63M | -5.19M | -5.94M | -2.68M | -177K | 0 | -543K | -1.35M | -1.94M | -3.52M | 1.52M | 1.36M | 130K | 262K | 3.96M | -200K | -7.2M | -2.2M | 7.9M |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -2.68M | -2.67M | -2.58M | -2.42M | -2.48M | -2.56M | -2.32M | -526K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -91K | -280K | -280K | -280K | -205K | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -2M | -358K | -3.57M | -1.02M | -2.63M | -5.19M | -5.94M | -2.68M | -177K | 0 | -543K | -1.5M | -2.63M | -3.87M | 0 | 0 | 0 | 0 | 0 | -200K | -7.2M | -2.3M | -1.1M |
| Other Financing | -162K | -119K | -116K | -87K | -188K | -742K | -41K | -214K | 151K | 1.04M | 24K | 267K | 12K | 1.18M | 222K | 1.43M | 414K | 290K | 314K | -6K | 254K | -3K | -102K | 0 | 0 | -100K | 0 | 0 | 0 | 700K | 0 |
| Net Change in Cash | 1.64M | 6.04M | 2.07M | 4.38M | -11.51M | 9.1M | 6.16M | -488K | -816K | 3M | -1.97M | 1.34M | 195K | -4.6M | 674K | -4.42M | 1.27M | 8.02M | -561K | -875K | -1.14M | -4.05M | 8.13M | -404K | 485K | -575K | 713K | -200K | -1.7M | -2.2M | 400K |
| Free Cash Flow | 5.08M | 7.56M | 1.54M | 4.61M | -13.52M | -3.89M | -4.25M | 3.48M | 3.64M | 4.93M | 4.01M | 4.59M | 5.39M | 1.74M | 6.91M | 840K | 1.02M | 7.73M | -278K | 438K | 409K | 117K | 7.17M | 553K | 3.1M | 63K | -2.08M | -1M | 1.8M | 1.5M | 200K |
| FCF Margin % | 9.59% | 14.69% | 3.55% | 6.34% | -23.25% | -9.89% | -13.9% | 7.61% | 6.66% | 8.76% | 7.01% | 7.69% | 10.15% | 2.9% | 10.11% | 1.27% | 1.62% | 13.25% | -0.45% | 0.9% | 0.64% | 0.23% | 11.97% | 1.06% | 7.86% | 0.14% | -3.88% | -2.23% | 3.45% | 2.57% | 0.48% |
| FCF Growth % | -15.28% | 391.49% | -66.59% | 134.07% | -247.18% | 8.46% | -222.24% | -4.29% | -26.29% | 22.86% | -12.49% | -14.93% | 209.59% | -74.8% | 722.98% | -18.05% | -86.74% | 2880.58% | -163.47% | 7.09% | 249.57% | -98.37% | 1195.66% | -82.17% | 4823.81% | 103.03% | -108.2% | -155.56% | 20% | 650% | - |
| FCF per Share | 0.49 | 0.75 | 0.15 | 0.46 | -1.36 | -0.42 | -0.54 | 0.45 | 0.47 | 0.65 | 0.52 | 0.58 | 0.65 | 0.20 | 0.76 | 0.09 | 0.11 | 0.82 | -0.03 | 0.05 | 0.04 | 0.01 | 0.70 | 0.04 | 0.37 | 0.01 | -0.25 | -0.12 | 0.19 | 0.15 | 0.02 |
| FCF Conversion (FCF/Net Income) | -12.70x | -6.19x | -0.19x | 1.16x | 2.06x | 0.62x | 0.62x | 9.39x | 0.94x | 1.84x | 1.28x | 1.79x | -104.36x | 0.51x | 2.22x | 0.45x | 0.55x | 3.91x | 0.49x | -1.15x | 0.84x | 7.62x | 1.53x | 1.19x | -5.32x | -0.29x | -0.97x | 6.67x | 3.33x | 0.78x | 0.61x |
| Interest Paid | 0 | 0 | 272K | 268K | 129K | 76K | 0 | 30K | 25K | 30K | 31K | 34K | 49K | 51K | -51K | 51K | 51K | 51K | 51K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 141K | 0 | 499K | 160K | 62K | 57K | 0 | 65K | 1.25M | 2.99M | 2.06M | 130K | 173K | 2.58M | -912K | 2.54M | 740K | 482K | 34K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Quick answers to the most common questions about buying TACT stock.
TransAct Technologies Incorporated (TACT) generated $7.7M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
TransAct Technologies Incorporated (TACT) generated $7.6M in free cash flow in 2025. Free cash flow is the cash left over after capital expenditures, which can be used to pay dividends, repurchase shares, or pay down debt.
TransAct Technologies Incorporated (TACT) spent $0.1M on capital expenditures in 2025. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.
Key Metrics
Top Statement Risk
Persistent Operating Margin Deficit
Metrics are mathematically derived from official filings.
Earnings Quality Obscured by Volatility
As reported in recent financial statements, the relationship between net income and operating cash flow remains highly erratic, with the OCF/NI ratio swinging from -1.23 in 2026Q1 to 242.00 in 2025Q3, suggesting that reported earnings are currently poor proxies for the company's actual cash-generating capacity.
The extreme divergence between net income and operating cash flow indicates that non-cash items and working capital fluctuations are significantly distorting the bottom line. Investors should monitor whether this volatility is a structural byproduct of the BOHA! transition or merely a reflection of lumpy hardware revenue recognition.
Free Cash Flow Remains Unstable
Based on the provided cash flow data, TACT's free cash flow trajectory is characterized by significant inconsistency, fluctuating from a $3.6 million inflow in 2025Q3 to a $1.0 million outflow in 2026Q1, highlighting the difficulty in achieving a sustainable cash-generative state during this operational pivot.
The inability to maintain positive free cash flow suggests that the company's current business model is highly sensitive to timing differences in customer payments and inventory cycles. This inconsistency warrants further investigation into whether the recurring revenue streams are sufficient to cover the underlying cash burn of the hardware business.
Working Capital Swings Drive Liquidity
According to quarterly cash flow filings, working capital changes have been the primary driver of cash flow volatility, with a $2.4 million outflow in 2026Q1 contrasting sharply with the $3.0 million inflow observed in 2025Q3, indicating significant sensitivity to inventory and receivables management.
The reliance on working capital shifts to bolster cash flow suggests that operational efficiency is not yet optimized. Management appears to be managing liquidity through the timing of payables and collections, which may not be sustainable if the company continues to scale its BOHA! platform.
Capital Intensity Reflects Strategic Pivot
As indicated by the company's financial data, capital expenditures reached a peak of 10.7% of revenue in 2025Q3, reflecting the ongoing investment required to support the BOHA! ecosystem and maintain the competitiveness of the legacy gaming printer hardware line.
The fluctuating nature of capital intensity suggests that the company is balancing maintenance requirements with growth-oriented investments. Analysts should monitor whether these expenditures are effectively translating into a higher-margin recurring revenue base or if they represent a persistent drag on free cash flow.