Revenue growth reached 10.4% in 2026Q1, yet the company continues to struggle with operating leverage as evidenced by a thin 5.3% operating margin.
| 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 |
|---|
| Sales/Revenue | 52.84M | 51.48M | 43.38M | 72.63M | 58.14M | 39.39M | 30.59M | 45.75M | 54.59M | 56.31M | 57.23M | 59.68M | 53.11M | 60.14M | 68.39M | 65.97M | 63.19M | 58.35M | 62.21M | 48.77M | 64.33M | 51.09M | 59.85M | 52.1M | 39.46M | 43.97M | 53.72M | 44.9M | 52.2M | 58.4M | 42.1M |
| Revenue Growth % | 15.5% | 18.66% | -40.27% | 24.93% | 47.61% | 28.73% | -33.12% | -16.19% | -3.06% | -1.61% | -4.09% | 12.37% | -11.69% | -12.06% | 3.66% | 4.39% | 8.31% | -6.21% | 27.56% | -24.19% | 25.91% | -14.63% | 14.87% | 32.02% | -10.26% | -18.14% | 19.64% | -13.98% | -10.62% | 38.72% | - |
| Cost of Goods Sold | 26.93M | 26.46M | 21.9M | 34.23M | 33.73M | 24M | 17.67M | 23.81M | 27.84M | 29.65M | 33.44M | 34.7M | 31.4M | 35.05M | 42.4M | 41.34M | 40.65M | 39.52M | 41.26M | 32.77M | 41.96M | 35.5M | 37.8M | 36.55M | 29.25M | 34.2M | 36.83M | 30.9M | 36.4M | 38.6M | 27.1M |
| COGS % of Revenue | - | 51.41% | 50.48% | 47.13% | 58.01% | 60.95% | 57.74% | 52.05% | 51.01% | 52.65% | 58.42% | 58.14% | 59.12% | 58.28% | 62.01% | 62.67% | 64.32% | 67.73% | 66.32% | 67.2% | 65.23% | 69.49% | 63.17% | 70.17% | 74.11% | 77.77% | 68.56% | 68.82% | 69.73% | 66.1% | 64.37% |
| Gross Profit | 25.91M | 25.02M | 21.48M | 38.4M | 24.41M | 15.38M | 12.93M | 21.93M | 26.74M | 26.66M | 23.8M | 24.98M | 21.71M | 25.09M | 25.98M | 24.63M | 22.55M | 18.83M | 20.95M | 16M | 22.36M | 15.59M | 22.04M | 15.54M | 10.22M | 9.77M | 16.89M | 14M | 15.8M | 19.8M | 15M |
| Gross Margin % | 49.03% | 48.59% | 49.52% | 52.87% | 41.99% | 39.05% | 42.26% | 47.95% | 48.99% | 47.35% | 41.58% | 41.86% | 40.88% | 41.72% | 37.99% | 37.33% | 35.68% | 32.27% | 33.68% | 32.8% | 34.77% | 30.51% | 36.83% | 29.83% | 25.89% | 22.23% | 31.44% | 31.18% | 30.27% | 33.9% | 35.63% |
| Gross Profit Growth % | - | 16.45% | -44.06% | 57.3% | 58.7% | 18.97% | -41.06% | -17.98% | 0.3% | 12.03% | -4.72% | 15.05% | -13.47% | -3.43% | 5.51% | 9.22% | 19.75% | -10.12% | 30.97% | -28.48% | 43.46% | -29.27% | 41.81% | 52.14% | 4.52% | -42.14% | 20.66% | -11.39% | -20.2% | 32% | - |
| Operating Expenses | 26.54M | 26.43M | 25.11M | 32.69M | 32.09M | 24.76M | 21.1M | 21.59M | 19.98M | 19.85M | 18.6M | 20.51M | 21.86M | 18.48M | 20.24M | 17.64M | 16.69M | 15.53M | 19.09M | 19.74M | 16.76M | 15.37M | 13.82M | 11.73M | 10.24M | 13.74M | 17.05M | 13.9M | 13.3M | 12M | 9.8M |
| OpEx % of Revenue | - | 51.34% | 57.87% | 45.01% | 55.19% | 62.86% | 68.97% | 47.2% | 36.61% | 35.25% | 32.5% | 34.37% | 41.16% | 30.72% | 29.6% | 26.74% | 26.41% | 26.62% | 30.69% | 40.48% | 26.05% | 30.08% | 23.09% | 22.51% | 25.95% | 31.24% | 31.73% | 30.96% | 25.48% | 20.55% | 23.28% |
| Selling, General & Admin | 20.09M | 19.73M | 18.13M | 23.25M | 23.52M | 17.28M | 15.4M | 17.2M | 15.41M | 15.54M | 14.17M | 16.91M | 17.56M | 14.41M | 16M | 14.04M | 13.69M | 12.74M | 16.15M | 16.61M | 13.93M | 12.64M | 11.1M | 9.45M | 8.22M | 10.67M | 10.81M | 8.5M | 7.7M | 7.6M | 6.2M |
| SG&A % of Revenue | - | 38.32% | 41.79% | 32.01% | 40.45% | 43.88% | 50.33% | 37.6% | 28.23% | 27.61% | 24.76% | 28.34% | 33.06% | 23.96% | 23.4% | 21.28% | 21.66% | 21.84% | 25.96% | 34.06% | 21.66% | 24.74% | 18.55% | 18.14% | 20.82% | 24.26% | 20.13% | 18.93% | 14.75% | 13.01% | 14.73% |
| Research & Development | 6.45M | 6.7M | 6.98M | 9.44M | 8.57M | 7.47M | 5.7M | 4.39M | 4.58M | 4.3M | 4.42M | 3.6M | 4.3M | 4.07M | 4.24M | 3.42M | 3M | 2.79M | 2.94M | 3.13M | 2.82M | 2.73M | 2.71M | 2.28M | 2.02M | 3.07M | 3.48M | 3.2M | 3.6M | 2.8M | 2.5M |
| R&D % of Revenue | - | 13.02% | 16.08% | 13% | 14.74% | 18.98% | 18.64% | 9.6% | 8.38% | 7.64% | 7.73% | 6.03% | 8.1% | 6.76% | 6.2% | 5.18% | 4.75% | 4.78% | 4.73% | 6.42% | 4.39% | 5.34% | 4.54% | 4.37% | 5.13% | 6.98% | 6.48% | 7.13% | 6.9% | 4.79% | 5.94% |
| Other Operating Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -9K | -4K | 2K | -33K | -63K | -23K | 184K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2.75M | 2.2M | 2M | 1.6M | 1.1M |
| Operating Income | -629K | -1.42M | -3.63M | 5.71M | -7.68M | -9.38M | -8.17M | 343K | 6.76M | 6.81M | 5.2M | 4.47M | -147K | 6.62M | 5.6M | 6.99M | 5.86M | 3.3M | 1.86M | -3.75M | 6.09M | 224K | 8.45M | 2.69M | -984K | -7.29M | -154K | 100K | 2.5M | 7.8M | 5.2M |
| Operating Margin % | -1.19% | -2.75% | -8.36% | 7.86% | -13.2% | -23.81% | -26.71% | 0.75% | 12.38% | 12.1% | 9.09% | 7.49% | -0.28% | 11% | 8.19% | 10.59% | 9.27% | 5.65% | 2.99% | -7.7% | 9.46% | 0.44% | 14.12% | 5.16% | -2.49% | -16.57% | -0.29% | 0.22% | 4.79% | 13.36% | 12.35% |
| Operating Income Growth % | - | 60.98% | -163.55% | 174.33% | 18.13% | -14.73% | -2482.8% | -94.93% | -0.81% | 31.04% | 16.38% | 3139.46% | -102.22% | 18.12% | -19.85% | 19.25% | 77.82% | 77.11% | 149.56% | -161.68% | 2617.86% | -97.35% | 214.4% | 373.17% | 86.49% | -4631.17% | -254% | -96% | -67.95% | 50% | - |
| EBITDA | -130K | -743K | -2.59M | 7.2M | -6.34M | -8.42M | -6.83M | 1.71M | 7.76M | 7.89M | 6.53M | 5.89M | 1.3M | 8.36M | 7.36M | 8.6M | 7.41M | 5.05M | 3.71M | -1.91M | 7.66M | 1.72M | 10.09M | 4.34M | 1.14M | -3.89M | 2.6M | 2.3M | 4.5M | 9.4M | 6.3M |
| EBITDA Margin % | -0.25% | -1.44% | -5.97% | 9.91% | -10.91% | -21.38% | -22.33% | 3.75% | 14.21% | 14.02% | 11.41% | 9.88% | 2.44% | 13.9% | 10.76% | 13.03% | 11.73% | 8.66% | 5.96% | -3.92% | 11.9% | 3.36% | 16.85% | 8.34% | 2.88% | -8.84% | 4.83% | 5.12% | 8.62% | 16.1% | 14.96% |
| EBITDA Growth % | 91.48% | 71.3% | -135.98% | 213.4% | 24.64% | -23.26% | -498.54% | -77.9% | -1.75% | 20.89% | 10.81% | 354.08% | -84.47% | 13.56% | -14.39% | 16.02% | 46.65% | 36.27% | 294.03% | -124.96% | 345.89% | -82.97% | 132.16% | 282.73% | 129.19% | -249.77% | 12.87% | -48.89% | -52.13% | 49.21% | - |
| D&A (Non-Cash Add-back) | 499K | 672K | 1.04M | 1.49M | 1.33M | 957K | 1.34M | 1.37M | 998K | 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 |
| EBIT | -603K | -1.42M | -3.25M | 6.21M | -7.69M | -5.93M | -8.04M | 395K | 6.76M | 6.81M | 5.2M | 4.48M | -3.79M | 6.59M | 5.65M | 7.08M | 5.92M | 3.28M | 2.29M | -3.74M | 5.61M | 224K | 8.23M | 3.82M | -26K | -3.96M | -154K | 89K | 2.54M | 7.8M | 5.2M |
| Net Interest Income | 176K | 198K | 147K | -255K | -208K | -96K | -52K | -11K | -27K | -33K | -26K | -28K | -49K | -23K | 6K | 18K | -9K | -50K | -11K | -69K | -44K | -41K | -44K | -219K | -192K | -397K | -649K | 0 | -400K | 0 | 0 |
| Interest Income | 176K | 537K | 469K | 55K | 0 | 61K | 78K | 17K | 0 | 0 | 7K | 9K | 12K | 41K | 67K | 87K | 87K | 20K | 59K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 0 | 339K | 322K | 310K | 208K | 157K | 130K | 28K | 27K | 33K | 33K | 37K | 61K | 64K | 61K | 69K | 96K | 70K | 70K | 69K | 44K | 41K | 44K | 219K | 192K | 397K | 649K | 0 | 400K | 0 | 0 |
| Other Income/Expense | 264K | 331K | 58K | 197K | -224K | 3.29M | 4K | 24K | -293K | -42K | -30K | -26K | -82K | -86K | -17K | 19K | -34K | -83K | 357K | 97K | -55K | 105K | -234K | -435K | -98K | -384K | -638K | 300K | -739K | 0 | 300K |
| Pretax Income | -365K | -1.08M | -3.57M | 5.9M | -7.9M | -6.08M | -8.17M | 367K | 6.47M | 6.77M | 5.17M | 4.44M | -229K | 6.53M | 5.58M | 7.01M | 5.83M | 3.21M | 2.22M | -3.66M | 6.03M | 329K | 8.44M | 2.25M | -1.08M | -7.67M | -792K | 400K | 1.8M | 7.8M | 5.5M |
| Pretax Margin % | -0.69% | -2.11% | -8.22% | 8.13% | -13.59% | -15.44% | -26.7% | 0.8% | 11.85% | 12.03% | 9.03% | 7.44% | -0.43% | 10.86% | 8.17% | 10.62% | 9.22% | 5.51% | 3.57% | -7.5% | 9.38% | 0.64% | 14.1% | 4.32% | -2.74% | -17.44% | -1.47% | 0.89% | 3.45% | 13.36% | 13.06% |
| Income Tax | 128K | 156K | 6.29M | 1.16M | -1.97M | -2.04M | -2.54M | -149K | 1.04M | 3.56M | 1.55M | 1.35M | -171K | 1.6M | 1.96M | 2.33M | 1.92M | 1.07M | 774K | -1.38M | 2.12M | -48K | 2.98M | 725K | -390K | -2.75M | -448K | 100K | 600K | 2.9M | 2.2M |
| Effective Tax Rate % | -35.07% | -14.39% | -176.43% | 19.57% | 24.87% | 33.57% | 31.08% | -40.6% | 16.08% | 52.58% | 30.04% | 30.39% | 74.67% | 24.44% | 35.17% | 33.28% | 33% | 33.4% | 34.9% | 37.83% | 35.09% | -14.59% | 35.31% | 32.18% | 36.04% | 35.83% | 56.57% | 25% | 33.33% | 37.18% | 40% |
| Net Income | -493K | -1.24M | -9.86M | 4.75M | -5.94M | -4.04M | -5.63M | 516K | 5.43M | 3.21M | 3.62M | 3.09M | -58K | 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 |
| Net Margin % | -0.93% | -2.41% | -22.73% | 6.54% | -10.21% | -10.26% | -18.4% | 1.13% | 9.94% | 5.7% | 6.32% | 5.18% | -0.11% | 8.21% | 5.29% | 7.09% | 6.18% | 3.67% | 2.32% | -4.66% | 6.09% | 0.74% | 9.12% | 2.93% | -1.75% | -11.19% | -0.64% | 0.67% | 2.3% | 8.39% | 7.84% |
| Net Income Growth % | 94.4% | 87.43% | -307.73% | 179.99% | -46.89% | 28.22% | -1191.09% | -90.49% | 68.98% | -11.22% | 16.98% | 5431.03% | -101.18% | 36.29% | -22.56% | 19.77% | 82.43% | 48.2% | 163.5% | -158.07% | 938.73% | -93.09% | 257.2% | 320.81% | 85.94% | -1330.81% | -214.67% | -75% | -75.51% | 48.48% | - |
| Net Income (Continuing) | -493K | -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 |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.05 | -0.12 | -0.99 | 0.47 | -0.60 | -0.45 | -0.72 | 0.07 | 0.70 | 0.42 | 0.47 | 0.39 | -0.01 | 0.57 | 0.40 | 0.49 | 0.41 | 0.23 | 0.15 | -0.24 | 0.40 | 0.04 | 0.51 | 0.08 | -0.08 | -0.59 | -0.04 | 0.04 | 0.13 | 0.32 | 0.38 |
| EPS Growth % | 93.98% | 87.88% | -310.64% | 178.33% | -33.33% | 37.5% | -1171.43% | -90.4% | 66.67% | -10.64% | 20.51% | - | -101.23% | 42.5% | -18.37% | 19.51% | 78.26% | 53.33% | 162.5% | -160% | 900% | -92.16% | 537.5% | 197.68% | 86.12% | -1314.87% | -204.25% | -69.23% | -59.38% | -15.79% | - |
| EPS (Basic) | - | -0.12 | -0.99 | 0.48 | -0.60 | -0.45 | -0.72 | 0.07 | 0.73 | 0.43 | 0.48 | 0.40 | -0.01 | 0.57 | 0.40 | 0.50 | 0.42 | 0.23 | 0.16 | -0.24 | 0.41 | 0.04 | 0.55 | 0.09 | -0.08 | -0.59 | -0.04 | 0.04 | 0.13 | 0.32 | 0.38 |
| Diluted Shares Outstanding | 10.23M | 10.09M | 10M | 10.02M | 9.9M | 9.3M | 7.83M | 7.68M | 7.76M | 7.59M | 7.66M | 7.85M | 8.31M | 8.7M | 9.12M | 9.6M | 9.59M | 9.38M | 9.49M | 9.36M | 9.87M | 10.16M | 10.23M | 14M | 8.45M | 8.33M | 8.26M | 8.42M | 9.26M | 9.91M | 12.65M |
| Basic Shares Outstanding | 10.18M | 10.09M | 10M | 9.95M | 9.9M | 9.3M | 7.83M | 7.47M | 7.44M | 7.42M | 7.61M | 7.82M | 8.31M | 8.59M | 9.03M | 9.44M | 9.39M | 9.29M | 9.31M | 9.36M | 9.58M | 9.85M | 9.59M | 13.03M | 8.45M | 8.33M | 8.26M | 8.35M | 9.24M | 9.91M | 8.83M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | 519.96% | 49.15% | 80.38% | 66.8% | 80.37% | - | 46.95% | 14.53% | - | - | - | - | - | - | - | - | 18.32% | - | - | - | - | - | - | - |
Persistent Operating Margin Deficit
According to recent financial disclosures, TACT achieved 18.66% year-over-year revenue growth in the most recent quarter, signaling a potential recovery from the sharp double-digit declines observed throughout 2024, though the sustainability of this top-line momentum remains contingent on the BOHA! platform's market penetration.
The recent return to positive growth suggests that the company is successfully navigating the post-pandemic casino refresh cycle. However, investors should monitor whether this growth is driven by recurring software subscriptions or lumpy, one-time hardware deployments, as the latter would imply less durability in the revenue trajectory.
As reported in quarterly filings, TACT maintained a gross margin of 50.3% in 2026Q1, demonstrating an ability to preserve pricing power despite the inherent volatility in hardware component costs and the ongoing transition toward a software-centric business model within the competitive food service technology sector.
The stability of gross margins above the 48% level suggests that the company's high-margin consumables and software offerings are effectively offsetting the lower-margin hardware sales. This margin profile appears to be a critical buffer, though it remains insufficient to fully cover the company's elevated operating expense structure.
Based on the provided income statement data, TACT continues to struggle with operating leverage, as evidenced by the 2026Q1 operating margin of 5.3% following a period of persistent losses, indicating that fixed costs remain high relative to the current revenue scale of $14.4 million.
The inability to consistently scale operating income faster than gross profit suggests that the company's R&D and SG&A investments have yet to reach an inflection point of efficiency. Investors should monitor whether future revenue gains translate into meaningful operating margin expansion or if fixed costs will continue to constrain profitability.
Analysis of recent financial statements reveals that stock-based compensation, which reached $502,000 in 2025Q4, periodically obscures the underlying operational performance, complicating the assessment of TACT's true path to GAAP profitability and the quality of its reported net income during periods of transition.
The presence of non-cash compensation expenses during quarters of negative operating income warrants further investigation into management's incentive alignment. The volatility in net income, exacerbated by these items, suggests that investors should focus on operating cash flow trends rather than headline EPS to gauge the company's fundamental health.
Quick answers to the most common questions about buying TACT stock.
For fiscal year 2025, TransAct Technologies Incorporated (TACT) reported total revenue of $51.5M. This represents a 22.3% increase compared to $42.1M in 1996.
TransAct Technologies Incorporated (TACT) reported a net loss of $1.2M for the fiscal year ending 2025.
TransAct Technologies Incorporated (TACT) reported an operating income of $-1.4M, resulting in an operating profit margin of -2.7%. This margin reflects the operational efficiency of the business before interest and taxes.
TransAct Technologies Incorporated (TACT) generated $25.0M in gross profit for the year, representing a gross profit margin of 48.6%. This demonstrates the company's core pricing power and production efficiency.