Exhibit 99.1

TransAct Technologies Reports Preliminary Fourth Quarter and Full Year 2020 Financial Results

2020 Fourth Quarter Net Sales of $7.8 Million
Full Year FST Recurring Revenues up 96% on a Year-Over-Year Basis
Full Year FST Paid Terminals Up 107% on a Year-Over-Year Basis

Hamden, CT – March 9, 2021 –
TransAct Technologies Incorporated (Nasdaq: TACT) (“TransAct” or the “Company”), a global leader in software-driven technology and printing solutions for high-growth markets, today reported preliminary operating results for the fourth quarter and full year ended December 31, 2020.

“Throughout our most challenging year ever we proved the agility of our business model by posting sequentially stronger sales quarters in the second half of 2020 and we finished the year with momentum as we enter 2021. I could not be more proud of the entire TransAct team and their resilience,” said Bart C. Shuldman, Chairman and CEO of TransAct Technologies. “Our FST market has picked up considerable steam and posted a 27% year-over-year revenue gain despite the obvious challenges our customers were facing, demonstrating the mission-critical nature of our BOHA! solutions. We saw the number of paid terminals in the market jump to 5,688 from 3,813 at the end of the third quarter of 2020, and we expect this number to accelerate as we move through 2021 and drive a sustainable base of recurring FST revenue. We are also starting to see green shoots in our Casino and Gaming market as the pandemic continues to subside and gambling floors begin to prepare for life after COVID-19.”

Shuldman continued, “Finally, we launched our all-new, iOS native BOHA! Restaurant Operations Platform, which is paired with our BOHA! Workstation and iPad and we are beginning to see our sales pipeline grow.  Technology from BOHA! and Apple devices work together to bring restaurants a bold, mobile-first solution to automate back-of-house tasks, reduce labor costs, and drive efficiencies.”

Fourth Quarter 2020 Financial Highlights
Net Sales: Net Sales for the fourth quarter of 2020 were $7.8 million, down 30% compared to $11.2 million for the fourth quarter of 2019.
FST Recurring Revenue: FST recurring revenue for the fourth quarter of 2020 was $0.9 million, up 37% compared to $0.7 million for the fourth quarter of 2019.
Gross Profit: Gross profit for the fourth quarter of 2020 was $2.4 million, resulting in gross margin of 30.6%, compared to gross profit of $4.6 million for the fourth quarter of 2019, which resulted in a 41.2% gross margin.
Operating loss: Operating loss for the fourth quarter of 2020 was $(2.7) million, compared to operating loss of $(1.1) million for the fourth quarter of 2019.
Net loss: Net loss for the fourth quarter of 2020 was $(1.9) million, or $(0.22) net loss per share, based on 8.7 million weighted average common shares outstanding. Net loss for the comparable 2019 period was $(0.8) million, or $(0.11) net loss per share, based on 7.5 million weighted average common shares outstanding.

The following information was filed by Transact Technologies Inc (TACT) on Tuesday, March 9, 2021 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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