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Table Trac, Inc. (TBTC+0.78%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing outlines the company's business activities, including the development and sale of casino management systems and related products. Table Trac's proprietary information and management system automates and monitors casino table game operations.
The company reported total revenues of $11,164,026 for 2024, a 17.7% increase from the previous year. System sales contributed $4,090,263, maintenance revenue was $5,378,620, and service and other revenue totaled $1,695,143.
Cost of sales increased to $3,270,733, resulting in a gross profit of $7,893,293, or 71% of sales. Selling, general, and administrative expenses rose to $6,175,668.
Net income for the year was $1,576,428, slightly down from $1,613,005 in 2023. Basic and diluted earnings per share were $0.34.
The company had a cash and cash equivalents position of $2,257,696 as of December 31, 2024, down from $3,489,771 the previous year, primarily due to investments in certificates of deposit.
Table Trac's backlog included five projects at the end of 2024, with two new contracts signed in 2025.
The company has a $500,000 line of credit, with no amounts outstanding as of the end of 2024.
Table Trac's products are installed in over 300 casinos worldwide, including the U.S., Australia, and Latin America.
The filing also discusses risks, including competition, regulatory changes, and reliance on key customers, as well as intellectual property and cybersecurity concerns.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Table Trac, Inc. annual 10-K report dated March 19, 2025. To report an error, please email earnings@qz.com.