Table Trac generates $1.8m in gross profit for Q3 2024
The company stated it had five installations in backlog at the end of Q3 2024, with the anticipation that each will be completed during the fourth quarter.
Key Points
- Total revenue was able to increase by 22% year-over-year while net income also grew for a total of just over $292k
- Table Trac completed two installations during the third quarter of 2024 and gross profit was reported to be $1.8m
Table Trac has reported the company’s financial results for the third quarter of 2024, seeing increases in revenue and net income as well as completing two installations throughout the period.
Total revenue for 2024 was reported to be $8m up to this point, a 22% increase from what was generated after nine months in 2023, while net income was $292k, an increase of nearly 70% year-over-year.
Along with the two installations done throughout the period, Table Trac stated it had five installations in backlog at the end of Q3 2024, which are expected to be completed by the end of the fourth quarter.
Gross profit was $1.8m during the third quarter of 2024, compared to the $1.4m reported for Q3 2023. Table Trac also managed to increase its diluted net income per share and the average number of common shares outstanding.
Good to know: On August 28, Table Trac published its six-month results following the launch of SlotSuite, which was developed through a CasinoTrac and TransAct Technologies collaboration
After the third quarter ended on September 30, Table Trac announced that Andrew Berger was approved to join its Board of Directors, having experience as a CEO, Director and Executive Chair for a number of companies.
Chad Hoehne, President and CEO of Table Trac, commented on Berger’s appointment, having said, “We are very pleased and excited to have Andrew join our Board of Directors.”
Berger has served as a Director of Autoscope Technologies since October 2015 and as its Executive Chair since June 2016. He was also the company’s CEO from April 2021 to November 2022.
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