TransAct Q1 net loss widens to $4.0M; revenue up 17% to $9.7M but margins shrink

TRANSACT TECHNOLOGIES INC

2022-Q1 EPS reported -$0.41 revenue$9,702,000

Net loss of $(4.0)M or $(0.41)/diluted share vs $(2.2)M loss ($(0.25)) in Q1 2021.
Net sales $9.7M (+17% YoY); gross margin fell to 30.9% from 38.4%.
Operating loss widened to $(5.2)M from $(2.7)M; adjusted EBITDA loss $(4.7)M vs $(2.2)M.
FST recurring revenue $1.6M, up 30% YoY; paid terminals 10,127, up 44% from March 2021.
CEO cites supply chain constraints and Omicron; price increase implemented April 2022.

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