Wed, Mar 19, 4:35 PM (38 days ago)
**Table Trac, Inc. (TBTC) 2024 Financial Summary** **Financial Performance:** - **Revenue:** $11,164,026, up 17.7% from $9,486,853 in 2023. - **Net Income:** $1,576,428, a slight decrease from $1,613,005 in 2023. - **Earnings per Share (EPS):** $0.34, down from $0.35 in 2023. - **Gross Profit Margin:** 70.8%, down from 74.3% in 2023 due to variable consideration. - **Operating Expenses:** $6,175,668, up 15% from $5,374,687 in 2023. **Strategic Overview:** - **Market Position:** Installed systems in 300 casinos across 17 U.S. states and several international locations. - **Product Expansion:** New system features and ancillary products. - **Contracts:** Signed 11 new customer contracts in 2024. - **Board Changes:** Added Andrew Berger as a director and chairman of the Compensation and Audit Committees. **Future Outlook:** - **Growth:** Plans to pursue further opportunities and strategic partnerships. - **Liquidity:** Adequate cash to meet obligations for at least the next 12 months. - **Dividends:** Paid $0.03 per share in 2024 and may continue in the future. **Risk Factors:** - **Market Risks:** Economic conditions, regulatory changes, and competition. - **Operational Risks:** Supply chain disruptions, technological obsolescence, and cybersecurity threats. - **Financial Risks:** Credit market conditions and customer payment issues. **Financial Condition:** - **Cash Position:** $2,257,696, down from $3,489,771 in 2023 due to investments in certificates of deposit. - **Stockholders' Equity:** $11,462,081, up 15.8% from $9,899,565 in 2023. - **Debt:** No outstanding borrowings under the $500,000 line of credit. **Market Position Changes:** - **Customer Base:** Over 115 casino operators with ongoing support and maintenance contracts. - **Geographic Focus:** Primarily U.S.-based with international expansion in progress. **Key Metrics:** - **Revenue Growth:** Driven by system, maintenance, and other sales. - **Operating Cash Flow:** $2,018,053, up from $394,940 in 2023. - **Investing Activities:** $3,111,075 used, primarily for certificates of deposit and capital expenditures.