TransAct Technologies Inc 2025年季度报告

FORM10-Q (Mark One)☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF1934 For the quarterly period ended:March 31, 2025or If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).Yes☐No☒ As of May 9, 2025 the number of shares outstanding of the Registrant’s common stock, par value $0.01 per share, was10,080,717. TRANSACT TECHNOLOGIES INCORPORATEDNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 1. Basis of presentation Theaccompanying unaudited financial statements of TransAct Technologies Incorporated (“TransAct”, the “Company”, “we”, “us”, or“our”) have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S.GAAP”) for interim financial information.Accordingly, they do not include all of the information and footnotes required by U.S.GAAP to be included in full year financial statements.In the opinion of management, all adjustments considered necessary for a fairstatement of the results for the periods presented have been included and are of a normal recurring nature.TheDecember 31, 2024 The results of operations for the three months endedMarch 31, 2025 are not necessarily indicative of the results to be expected for thefull year ending December 31, 2025. After strong demand during most of 2023 due in part to our primary competitor’s struggle to deliver products in the face of supplychain constraints, in late 2023, we began to see indications of a temporary slowdown in demand in the casino and gaming market, ascustomers that had built up excess inventory due to supply chain concerns advised us that they would temporarily reduce orders untiltheir stock normalized. This slowdown impacted our results in the fourth quarter of 2023 and during the year ended December 31,2024.After reviewing whether conditions and/or events raise substantial doubt about our ability to meet future financial obligationsover the 12 months following the date on which the Condensed Consolidated Financial Statements included in this Quarterly Report Use of Assumptions and Estimates Management’s belief that the Company will be able to fund its planned operations over the 12 months following the date on which theunaudited Condensed Consolidated Financial Statements were issued is based on assumptions which involve significant judgment andestimates of future revenues, inflation, tariffs and other trade restrictions, rising interest rates, capital expenditures and other operatingcosts. We cannot predict the ultimate impact of the current economic environment, including inflation, and rising interest rates on ourcustomers, which may impact sales. In addition, we cannot predict the ultimate impact that recent or future tariff actions by the U.S.government and other countries may have on our costs and supply chain or provide assurance that all such cost increases can be offset In addition, the presentation of the accompanying unaudited Condensed Consolidated Financial Statements requires us to makeestimates and judgments that affect the reported amounts of assets, liabilities, revenue and expenses, and the disclosure of contingentassets and liabilities. Our estimates include those related to revenue recognition, accounts receivable, inventory obsolescence, goodwilland intangible assets, the valuation of deferred tax assets and liabilities, depreciable lives of equipment, share-based compensation and 2. Significant accounting policies For a discussion of our significant accounting policies, see Note 2,Summary of significant accounting policieswithin Part II, Item 8.“Financial Statements and Supplementary Data” in the 2024 Form 10-K.There have been no changes to our significant accounting policies since the 2024 Form 10-K. Recently issued accounting pronouncements: On December 14, 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-09,Income Taxes (Topic 740): Improvements to Income Tax Disclosures.This ASU requires the use of consistent categories and greaterdisaggregation in tax rate reconciliations and income taxes paid disclosures.These amendments are effective for fiscal yearsbeginning after December 15, 2024.These income tax disclosure requirements can be applied either prospectively or retrospectively Index In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense DisaggregationDisclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. The amendments in this update require footnotedisclosures on disaggregated information about specific categories underlying certain income statement expense line items that areconsidered relev