Table Trac, Inc. reported significant financial growth in its latest quarterly results, with revenues reaching $3.54 million for the three months ended March 31, 2025, a substantial increase from $2.02 million during the same period in 2024. The company achieved a net income of $782,239, translating to earnings per share of $0.17, compared to a mere $11,661 net income and $0.00 earnings per share in the prior year. This marked improvement in profitability is attributed to increased system sales and expanded customer contracts, reflecting a strategic focus on enhancing its product offerings and market presence.
The company's cost of sales also rose, totaling $932,323, up from $544,201 in the previous year, primarily due to the installation of a greater number of hardware items. Despite this increase, the gross profit margin remained stable, with gross profit at $2.60 million, representing 73.6% of revenues, slightly up from 73.1% in the prior year. Selling, general, and administrative expenses increased to $1.66 million, driven by heightened sales and marketing efforts to support the company's growth trajectory.
Operationally, Table Trac expanded its customer base, serving over 115 casino operators across more than 300 casinos worldwide, with 95.9% of revenues generated from U.S. customers. The company delivered five new systems and expanded three existing customer contracts during the quarter. As of March 31, 2025, the company reported a backlog of one system installation and one system expansion, indicating ongoing demand for its products and services.
In terms of liquidity, Table Trac ended the quarter with cash and cash equivalents of $5.47 million and short-term investments of $2.10 million. The company has a revolving credit line of $500,000, with no borrowings outstanding as of the reporting date. Management expressed confidence in the company's ability to meet its obligations and continue operations for at least the next 12 months, supported by strong cash flow from operations, which totaled $734,810 for the quarter.
Looking ahead, Table Trac aims to pursue further opportunities and strategic partnerships to enhance its market share and product offerings. The company is focused on expanding its presence in both domestic and international markets, with plans to leverage its patented technology and innovative solutions to meet the evolving needs of the gaming industry.
About TABLE TRAC INC
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