Table Trac (TBTC) Q4 2024 earnings summary

Executive summary

• Table Trac, Inc. develops and sells casino management systems, with installations in over 300 casinos across the U.S. and internationally.

• 2024 saw the installation of eight new systems and expansion of two existing customer systems, with eleven new customer contracts signed.

• The company operates in a highly competitive, regulated industry and continues to invest in product innovation and market expansion.

Financial highlights

• Total revenues for 2024 were $11.16 million, up 17.7% from $9.49 million in 2023, driven by increases in system, maintenance, and service sales.

• Net income for 2024 was $1.58 million, a slight decrease from $1.61 million in 2023, with EPS at $0.34 versus $0.35.

• Gross profit margin declined to 71% from 74% due to a $275,000 one-time cash consideration paid to a customer for a promotional product issue.

• Cash and cash equivalents at year-end were $2.26 million, down from $3.49 million, mainly due to investments in certificates of deposit.

• Stockholders’ equity increased to $11.46 million from $9.90 million, primarily due to 2024 net income.

Outlook and guidance

• Management believes the company has adequate liquidity to meet obligations and continue operations for at least the next twelve months.

• The company aims to pursue further opportunities and strategic partnerships, with two new contracts signed in early 2025.