TransAct Highlights Early Sales Success for BOHA! Back-of-House Automation Ecosystem Since Introduction Last Month
Company Begins Sales of Revolutionary BOHA!™ Branded Cloud-Based Apps and Hardware Solutions to Broad Range of Restaurant and Foodservice Customers
HAMDEN, Conn.--(BUSINESS WIRE)--Apr. 17, 2019-- TransAct® Technologies Incorporated (Nasdaq: TACT) (“TransAct” or “the Company”), a global leader in software-driven technology and printing solutions for high-growth markets, highlighted today its early sales success for its revolutionary BOHA!™ ecosystem since the product’s market introduction in March. To date, TransAct has secured commitments from ten distinct restaurant or foodservice operators representing a broad mix of customers to deploy BOHA! solutions in their operations. Related to these initial commitments, the Company expects to roll-out approximately 240 BOHA! Terminals over the balance of the year.
The annual recurring revenue related to the above noted BOHA! solution sales reflects a 1:1 ratio to the one-time hardware related revenue recognized at the time of the sale. TransAct expects that as the BOHA! solution continues to gain traction in the marketplace, the ratio of recurring revenue to one-time hardware related revenue will grow, as customers include more BOHA! apps in their initial installation or integrate additional BOHA! apps following deployments.
BOHA! is the first single-vendor solution to combine applications for Inventory Management, Temperature Monitoring of Food and Equipment, Food Safety Labeling, Food Recalls, Checklists & Procedures, Equipment Service Management and Delivery Management in one fully-integrated platform. Each BOHA! solution combines cloud-based SaaS applications with hardware and accessories to deliver superior results for critical back-of-house operations. BOHA! offers a one-stop solution for restaurants and food service companies to address their current back-of-house operating requirements while providing a future-ready platform capable of addressing back-of-house operations as they continue to evolve. BOHA! Terminal includes TEMS (TransAct Enterprise Management System) to ensure only approved apps and functions are available on the device.
Bart C. Shuldman, Chairman and CEO of TransAct Technologies, said, “We’re pleased with the industry reception for our revolutionary BOHA! SaaS-based software and hardware ecosystem since its introduction just one month ago. It’s clear from these early sales and from the high level of ongoing customer discussions and customer trials of our BOHA! solutions that we are at the forefront of offering the restaurant and foodservice industries a compelling suite of integrated software applications and hardware solutions to automate their back-of-house operations. This early level of interest across a broad array of customer sizes and operational complexity confirms our belief that BOHA! represents the largest single addressable market opportunity that TransAct has had in our history.”
TransAct is hosting a product showcase for its BOHA!TM SaaS-based ecosystem for investors in New York City on April 23 in theHenry Room at the Lotte New York Palace (455 Madison Ave, New York, NY 10022). Parties interested in attending or interested in seeking additional information about the event are asked to contact Richard Land or Jim Leahy of JCIR at firstname.lastname@example.org or 212/835-8500.
For more information on the Company’s BOHA! ecosystem, please visit www.transact-tech.com/restaurant-solutions/boha.