TransAct Technologies (TACT) 10-Q 18 Aug 22 2022 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2022	Jul. 31, 2022
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2022
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Document Transition Report	false
Entity File Number	0-21121
Entity Registrant Name	TRANSACT TECHNOLOGIES INC
Entity Central Index Key	0001017303
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	06-1456680
Entity Address, Address Line One	One Hamden Center
Entity Address, Address Line Two	2319 Whitney Avenue, Suite 3B
Entity Address, City or Town	Hamden
Entity Address, State or Province	CT
Entity Address, Postal Zip Code	06518
City Area Code	203
Local Phone Number	859-6800
Title of 12(b) Security	Common stock, par value $0.01 per share
Trading Symbol	TACT
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		9,910,008

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 3,893	$ 19,457
Accounts receivable, net	11,991	7,593
Employee retention credit receivable	1,500	1,500
Inventories	10,907	7,711
Prepaid income taxes	188	137
Other current assets	794	738
Total current assets	29,273	37,136
Fixed assets, net of accumulated depreciation of $17,216 and $16,736, respectively	2,838	2,684
Right-of-use asset	2,937	2,553
Goodwill	2,621	2,621
Deferred tax assets	7,325	5,143
Intangible assets, net of accumulated amortization of $1,286 and $1,209, respectively	319	397
Other assets	230	400
Total noncurrent assets	16,270	13,798
Total assets	45,543	50,934
Current liabilities:
Accounts payable	5,017	4,308
Accrued liabilities	3,649	3,894
Lease liability	789	789
Deferred revenue	887	805
Total current liabilities	10,342	9,796
Deferred revenue, net of current portion	169	186
Lease liability, net of current portion	2,170	1,781
Other liabilities	190	187
Total noncurrent liabilities	2,529	2,154
Total liabilities	12,871	11,950
Shareholders' equity:
Common stock, $0.01 par value, 20,000,000 shares authorized; 13,954,850 and 13,917,731 shares issued, respectively; 9,910,008 and 9,872,889 shares outstanding, respectively	139	139
Additional paid-in capital	55,708	55,246
Retained earnings	8,842	15,566
Accumulated other comprehensive income, net of tax	93	143
Treasury stock, at cost, 4,044,842 shares	(32,110)	(32,110)
Total shareholders' equity	32,672	38,984
Total liabilities and shareholders' equity	$ 45,543	$ 50,934

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Assets:
Fixed assets, accumulated depreciation	$ 17,216	$ 16,736
Intangible assets, accumulated amortization	$ 1,286	$ 1,209
Shareholders' equity:
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	20,000,000	20,000,000
Common stock, shares issued (in shares)	13,954,850	13,917,731
Common stock, shares outstanding (in shares)	9,910,008	9,872,889
Treasury stock (in shares)	4,044,842	4,044,842

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS [Abstract]
Net sales	$ 12,623	$ 9,325	$ 22,325	$ 17,626
Cost of sales	7,189	5,893	14,325	10,855
Gross profit	5,434	3,432	8,000	6,771
Operating expenses:
Engineering, design and product development	2,172	1,804	4,455	3,607
Selling and marketing	3,293	1,767	5,976	3,210
General and administrative	2,923	2,509	6,127	5,118
Operating expenses	8,388	6,080	16,558	11,935
Operating loss	(2,954)	(2,648)	(8,558)	(5,164)
Interest and other expense:
Interest, net	(28)	(29)	(92)	(42)
Other, net	(264)	(17)	(299)	(100)
Interest and other expense	(292)	(46)	(391)	(142)
Loss before income taxes	(3,246)	(2,694)	(8,949)	(5,306)
Income tax benefit	870	664	2,225	1,187
Net loss	$ (2,376)	$ (2,030)	$ (6,724)	$ (4,119)
Net loss per common share:
Basic (in dollars per share)	$ (0.24)	$ (0.23)	$ (0.68)	$ (0.46)
Diluted (in dollars per share)	$ (0.24)	$ (0.23)	$ (0.68)	$ (0.46)
Shares used in per-share calculation:
Basic (in shares)	9,910	8,976	9,898	8,962
Diluted (in shares)	9,910	8,976	9,898	8,962

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS [Abstract]
Net loss	$ (2,376)	$ (4,348)	$ (2,030)	$ (6,724)	$ (4,119)
Foreign currency translation adjustment, net of tax	(8)		32	(50)	85
Comprehensive loss	$ (2,384)	$ (4,390)	$ (1,998)	$ (6,774)	$ (4,034)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Cash flows from operating activities:
Net loss	$ (6,724)	$ (4,119)
Adjustments to reconcile net loss to net cash used in operating activities:
Share-based compensation expense	581	695
Depreciation and amortization	625	486
Deferred income taxes	(2,227)	(1,153)
Gain on the sale of fixed assets	0	(8)
Foreign currency transaction losses	298	107
Changes in operating assets and liabilities:
Accounts receivable	(4,547)	(2,350)
Inventories	(3,250)	2,334
Prepaid income taxes	(51)	(90)
Other current and long-term assets	77	29
Accounts payable	789	1,012
Accrued liabilities and other liabilities	(159)	(862)
Net cash used in operating activities	(14,588)	(3,919)
Cash flows from investing activities:
Capital expenditures	(744)	(159)
Proceeds from the sale of fixed assets	0	8
Collection of note receivable	0	1,598
Net cash (used in) provided by investing activities	(744)	1,447
Cash flows from financing activities:
Proceeds from stock option exercises	0	277
Withholding taxes paid on stock issuances	(119)	(100)
Payment of bank financing costs	(10)	(31)
Net cash (used in) provided by financing activities	(129)	146
Effect of exchange rate changes on cash and cash equivalents	(103)	(73)
Decrease in cash and cash equivalents	(15,564)	(2,399)
Cash and cash equivalents, beginning of period	19,457	10,359
Cash and cash equivalents, end of period	3,893	7,960
Supplemental schedule of non-cash investing activities:
Capital expenditures included in accounts payable	$ 7	$ 100

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Treasury Stock [Member]	Accumulated Other Comprehensive Income (Loss), Net of Tax [Member]	Total
Beginning balance at Dec. 31, 2020		$ 42,536	$ 19,607		$ (38)	$ 30,125
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation expense		695
Issuance of shares from exercise of stock options		277
Relinquishment of stock awards and restricted stock units to pay for withholding taxes		(100)
Net loss			(4,119)			(4,119)
Foreign currency translation adjustment, net of tax					85	85
Ending balance at Jun. 30, 2021	$ 130	43,408	15,488	$ (32,110)	47	$ 26,963
Supplemental share information
Issuance of shares from stock awards (in shares)						92
Relinquishment of stock awards to pay withholding taxes (in shares)						32
Beginning balance at Mar. 31, 2021		42,816	17,518		15	$ 28,369
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation expense		431
Issuance of shares from exercise of stock options		186
Relinquishment of stock awards and restricted stock units to pay for withholding taxes		(25)
Net loss			(2,030)			(2,030)
Foreign currency translation adjustment, net of tax					32	32
Ending balance at Jun. 30, 2021	130	43,408	15,488	(32,110)	47	$ 26,963
Supplemental share information
Issuance of shares from stock awards (in shares)						27
Relinquishment of stock awards to pay withholding taxes (in shares)						1
Beginning balance at Dec. 31, 2021		55,246	15,566		143	$ 38,984
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss						(4,348)
Ending balance at Mar. 31, 2022		55,423	11,218		101	34,771
Beginning balance at Dec. 31, 2021		55,246	15,566		143	38,984
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation expense		581
Issuance of shares from exercise of stock options		0
Relinquishment of stock awards and restricted stock units to pay for withholding taxes		(119)
Net loss			(6,724)			(6,724)
Foreign currency translation adjustment, net of tax					(50)	(50)
Ending balance at Jun. 30, 2022	139	55,708	8,842	(32,110)	93	$ 32,672
Supplemental share information
Issuance of shares from stock awards (in shares)						63
Relinquishment of stock awards to pay withholding taxes (in shares)						26
Beginning balance at Mar. 31, 2022		55,423	11,218		101	$ 34,771
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation expense		285
Issuance of shares from exercise of stock options		0
Relinquishment of stock awards and restricted stock units to pay for withholding taxes		0
Net loss			(2,376)			(2,376)
Foreign currency translation adjustment, net of tax					(8)	(8)
Ending balance at Jun. 30, 2022	$ 139	$ 55,708	$ 8,842	$ (32,110)	$ 93	$ 32,672
Supplemental share information
Issuance of shares from stock awards (in shares)						0
Relinquishment of stock awards to pay withholding taxes (in shares)						0

Basis of presentation

Basis of presentation	6 Months Ended
	Jun. 30, 2022
Basis of presentation [Abstract]
Basis of presentation	1. Basis of presentation The . The Condensed Consolidated Balance Sheet data was derived from audited financial statements, but does not include all disclosures required by U.S. GAAP. These interim financial statements should be read in conjunction with the audited financial statements in our Annual Report on Form 10-K for the year ended . The financial position and results of operations of our U.K. subsidiary are measured using the local currency as the functional currency. Assets and liabilities of such subsidiary have been translated at the end-of-period exchange rates, and related revenues and expenses have been translated at the exchange rate as of the date the transaction was recognized, with the resulting translation gain or loss recorded in “Accumulated other comprehensive income, net of tax” in the Condensed Consolidated Balance Sheets and “Accumulated other comprehensive income (loss)” in the Condensed Consolidated Statements of Changes in Shareholders’ Equity. Transaction gains and losses are included in “Other, net” in the Condensed Consolidated Statements of Operations. The results of operations for the three and six months ended June 30, 2022 are not necessarily indicative of the results to be expected for the full year ending December 31, 2022. See Note 9 for a discussion of a change in accounting principle which occurred in the second quarter of 2022. TransAct changed its method of inventory valuation from standard costing which approximates first-in first-out “FIFO” to the average costing methodology. All prior periods presented have been retrospectively adjusted to apply the new method of accounting. Certain prior period amounts have been adjusted to conform with the current year presentation. Impact of the COVID-19 pandemic In the first quarter of 2020, the COVID-19 pandemic and the resulting social distancing measures, including closures and restricted openings of restaurants and casinos implemented by federal, state and local authorities, negatively impacted customer demand and disrupted portions of our supply chain, including delayed product shipments from our two manufacturers located in Thailand and China. Our inventory levels decreased significantly during 2021 due to these supply chain disruptions, and although we have been able to increase inventory levels during the first six months of 2022, continuing delays and further disruptions have led to an increased backlog and increased freight costs, which have impacted our ability to deliver products to our customers on time or at all. While we began to experience a modest recovery starting in the second half of 2020 and continuing through 2021, the recovery slowed again in the first quarter of 2022 due to a resurgence resulting from the Omicron variant and other variants. We began to see a resumption of the recovery in the second quarter of 2022 which we expect to continue during the remainder of 2022, though the exact timing and pace of recovery are unknown given uncertainty surrounding responsive measures to the spread of virus variants or any potential future resurgences of the virus and the significant disruption that we and our customers have already experienced and may continue to experience. We are monitoring indicators of demand recovery, including our sales pipeline, customer orders and product shipments to ascertain an estimate of the ultimate impact of the COVID-19 pandemic on our business; but, the length and ultimate severity of the reduction in demand and supply chain disruptions due to the COVID-19 pandemic remains uncertain. Balance Sheet, Cash Flow and Liquidity. We have taken the following actions to increase liquidity and strengthen our financial position in an effort to mitigate the negative impacts from the COVID-19 pandemic: ● Public Offering – On October 16, 2020 and August 16, 2021, the Company raised net proceeds of $ million and $ million ( ), respectively, after deducting underwriting discounts, commissions and offering expenses, through underwritten public offerings in which we sold an aggregate of and shares of common stock, respectively. ● PPP Loan – On May 1, 2020, the Company was granted a $2.2 million loan (the “PPP Loan”) under the Paycheck Protection Program (the “PPP”) administered by the Small Business Administration (“SBA”) established under Division A, Title I of the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act. On July 8, 2021, we received notice that the PPP Loan had been forgiven as of July 1, 2021. See Note 5 for further details regarding the PPP Loan. ● Employee Retention Credit – Under the provisions of the CARES Act, the Company was eligible for a refundable employee retention credit subject to certain criteria. In connection with the CARES Act, the Company recognized the employee retention credit during the fourth quarter of 2021 as a $1.5 million “Gain from employee retention credit” in the Consolidated Statement of Operations for the year ended December 31, 2021 and recorded a $1.5 million “Employee retention credit receivable” in the Condensed Consolidated Balance Sheets as of June 30, 2022 and December 31, 2021. We expect to receive these funds during 2022 . ● Credit Facility – On March 13, 2020, we entered into a new credit facility with Siena Lending Group LLC (the “Lender”) that provides a revolving credit line of up to $10.0 million, subject to a borrowing base, and on July 19, 2022, we entered into an amendment to extend the maturity of the facility to March 13, 2025. See Note 5 and Note 10 for further details regarding this facility. ● Reduced Capital Expenditures – We limited capital expenditures during 2020 and 2021, and are gradually increasing expenditures during 2022 as sales improve. We continue to implement additional expense management measures as circumstances warrant. In addition to the planned expense management actions, we may also further modify or supplement the actions we have taken to increase liquidity as the timing and extent of customer demand recovery develops and supply chains normalize. After reviewing whether conditions and/or events raise substantial doubt about our ability to meet future financial obligations over the 12 months following the issuance date of the Condensed Consolidated Financial Statements included in this Quarterly Report on Form 10-Q, including consideration of the actions taken to manage expenses and liquidity, we believe that our net cash to be provided by operations combined with our cash and cash equivalents and borrowing availability under our revolving credit facility will provide sufficient liquidity to fund our current obligations, capital spending, and working capital requirements and to comply with the financial covenants of our credit facility over at least 12 months following such issuance date. Use of Assumptions and Estimates Management’s belief that the Company will be able to fund its planned operations over the 12 months following the date on which the Condensed Consolidated Financial Statements were issued is based on assumptions which involve significant judgment and estimates of future revenues, capital expenditures and other operating costs. Our current assumptions are that casinos and restaurants will remain open and consumer traffic will continue to increase during the balance of 2022, but that casinos and restaurants may delay purchases of new slot machines and our BOHA! products, respectively, due to labor shortages, supply issues and inflation caused by the COVID-19 pandemic. Based on these assumptions, we anticipate that sales in casino and gaming and food service technology may continue to be negatively impacted for the foreseeable future. We have performed a sensitivity analysis on these assumptions to forecast the potential impact of a slower-than-anticipated recovery and believe that we are positioned to withstand the impact of lower-than-anticipated sales and that we will be able to take additional financial and operational actions to cut costs and/or increase liquidity, if necessary. These actions may include additional expense reductions and capital raising activities. In addition, the presentation of the accompanying unaudited financial statements requires us to make estimates and judgments that affect the reported amounts of assets, liabilities, revenue and expenses, and the disclosure of contingent assets and liabilities. Our estimates include those related to revenue recognition, accounts receivable, inventory obsolescence, goodwill and intangible assets, the valuation of deferred tax assets and liabilities, depreciable lives of equipment, warranty obligations, share-based compensation and contingent liabilities. We base our estimates on historical experience and on various other assumptions that we believe to be reasonable under the circumstances. Actual results could differ from those estimates used.

Revenue

Revenue	6 Months Ended
	Jun. 30, 2022
Revenue [Abstract]
Revenue	2. Revenue We account for revenue in accordance with ASC Topic 606: Revenue from Contracts with Customers. Disaggregation of revenue The following tables disaggregate our revenue by market type, as we believe it best depicts how the nature, amount, timing and uncertainty of our revenue and cash flows are affected by economic factors. Sales and usage-based taxes are excluded from revenues. Three Months Ended June 30, 2022 2021 (In thousands) United States International Total United States International Total Food service technology $ 3,281 $ 151 $ 3,432 $ 2,987 $ 87 $ 3,074 POS automation 1,172 – 1,172 1,252 4 1,256 Casino and gaming 3,929 2,596 6,525 2,438 1,029 3,467 Printrex – – – 25 87 112 TransAct Services Group 1,345 149 1,494 1,252 164 1,416 Total net sales $ 9,727 $ 2,896 $ 12,623 $ 7,954 $ 1,371 $ 9,325 Six Months Ended June 30, 2022 2021 (In thousands) United States International Total United States International Total Food service technology $ 5,227 $ 335 $ 5,562 $ 5,551 $ 270 $ 5,821 POS automation 2,472 – 2,472 2,412 8 2,420 Casino and gaming 6,717 4,570 11,287 4,402 1,930 6,332 Printrex – – – 52 219 271 TransAct Services Group 2,413 591 3,004 2,532 250 2,782 Total net sales $ 16,829 $ 5,496 $ 22,325 $ 14,949 $ 2,677 $ 17,626 Contract balances Contract assets consist of unbilled receivables. Pursuant to the over-time revenue recognition model, revenue may be recognized prior to the customer being invoiced. An unbilled receivable is recorded to reflect revenue that is recognized when such revenue exceeds the amount invoiced to the customer. Unbilled receivables are separated into current and non-current assets and included within “Accounts receivable” and “Other non-current assets” in the Condensed Consolidated Balance Sheets. Contract liabilities consist of customer pre-payments and deferred revenue. Customer prepayments are reported as “Accrued liabilities” in current liabilities in the Condensed Consolidated Balance Sheets and represent customer payments made in advance of performance obligations in instances where credit has not been extended and are recognized as revenue when the performance obligation is complete. Deferred revenue is reported separately in current liabilities and non-current liabilities and consists of our extended warranty contracts, technical support for our food service technology terminals, EPICENTRAL® maintenance contracts and prepaid software subscriptions for our BOHA! software applications and is recognized as revenue as (or when) we perform under the contract. For the months ended , we recognized revenue of $ million related to our contract liabilities at . Total net contract liabilities consisted of the following: June 30, 2022 December 31, 2021 (In thousands) Unbilled receivables, current $ 342 $ 314 Unbilled receivables, non-current 185 308 Customer pre-payments (320 ) (99 ) Deferred revenue, current (887 ) (805 ) Deferred revenue, non-current (169 ) (186 ) Total net contract liabilities $ (849 ) $ (468 ) Remaining performance obligations Remaining performance obligations represent the transaction price of firm orders for which a good or service has not been delivered to our customer. As of June 30, 2022, the aggregate amount of transaction prices allocated to remaining performance obligations was $19.5 million. The Company expects to recognize revenue of $18.8 million of its remaining performance obligations within the next 12 months following June 30, 2022, $0.6 million within the next 24 months balance 36 months

Inventories

Inventories	6 Months Ended
	Jun. 30, 2022
Inventories [Abstract]
Inventories	3. Inventories The components of inventories were: June 30, 2022 December 31, 2021 (In thousands) Raw materials and purchased component parts $ 9,242 $ 6,470 Work-in-process – 11 Finished goods 1,665 1,230 $ 10,907 $ 7,711

Accrued product warranty liabil

Accrued product warranty liability	6 Months Ended
	Jun. 30, 2022
Accrued product warranty liability [Abstract]
Accrued product warranty liability	4. Accrued product warranty liability We generally provide hardware warranties on our products for up to 24 months and record the estimated cost of such product warranties at the time the sale is recorded. Estimated warranty costs are based upon actual past experience of product repairs and the related estimated cost of labor and material to make the necessary repairs. The following table summarizes the activity recorded in the accrued product warranty liability during the six months ended June 30, 2022 and 2021: Six Months Ended June 30, 2022 2021 (In thousands) Balance, beginning of period $ 101 $ 140 Warranties issued 12 19 Warranty settlements (33 ) (45 ) Balance, end of period $ 80 $ 114 As of June 30, 2022, $63 thousand of the accrued product warranty liability was classified as current in “Accrued liabilities” in the Condensed Consolidated Balance Sheets and the remaining $17 thousand was classified as non-current in “Other liabilities”.

Debt

Debt	6 Months Ended
	Jun. 30, 2022
Debt [Abstract]
Debt	5. Debt On March 13, 2020, we entered into a credit facility (the “Siena Credit Facility”) with the Lender. The Siena Credit Facility provides for a revolving credit line of up to $10.0 million expiring on March 13, 2023. Borrowings under the Siena Credit Facility bear a floating rate of interest equal to the greatest of (i) the prime rate plus 1.75%, (ii) the federal funds rate plus 2.25%, and (iii) 6.50%. The total deferred financing costs related to expenses incurred to complete the Siena Credit Facility was $245 thousand, which were reported as “Other current assets” in current assets and “Other assets” in non-current assets in the Condensed Consolidated Balance Sheets. We also pay a fee of 0.50% on unused borrowings under the Siena Credit Facility. Borrowings under the Siena Credit Facility are secured by a lien on substantially all the assets of the Company. The Siena Credit Facility imposes a financial covenant on the Company and borrowings are subject to a borrowing base based on (i) 85% of eligible accounts receivable plus the lesser of (a) $5.0 million and (b) 50% of eligible raw material and 60% of finished goods inventory. The three-month period from April 1, 2020 to June 30, 2020 was the first period we were subject to the financial covenant, which required the Company to maintain a minimum EBITDA and continued through the 12-month period from April 1, 2020 to March 31, 2021. On July 21, On May 1, 2020 (the “Loan Date”), the Company was granted the PPP Loan from Berkshire Bank in the aggregate amount of $ million, pursuant to the PPP. On July 8, 2021, the Company received notifications from Berkshire Bank and the SBA that its PPP Loan (including all interest accrued thereon) of $2.2 million had been fully forgiven by the SBA and that the forgiveness payment date was July 1, 2021. The forgiveness of the PPP Loan was reported as “Gain on forgiveness of long-term debt” in the Consolidated Statement of Operations during the year ended December 31, 2021.

Earnings per share

Earnings per share	6 Months Ended
	Jun. 30, 2022
Earnings per share [Abstract]
Earnings per share	6. Earnings per share The following table sets forth the reconciliation of basic weighted average shares outstanding and diluted weighted average shares outstanding: Three Months Ended Six Months Ended June 30, June 30, 2022 2021 2022 2021 (In thousands, except per share data) Net loss $ (2,376 ) $ (2,030 ) $ (6,724 ) $ (4,119 ) Shares: Basic: Weighted average common shares outstanding 9,910 8,976 9,898 8,962 Add: Dilutive effect of outstanding options and restricted stock units as determined by the treasury stock method – – – – Diluted: Weighted average common and common equivalent shares outstanding 9,910 8,976 9,898 8,962 Net loss per common share: Basic $ (0.24 ) $ (0.23 ) $ (0.68 ) $ (0.46 ) Diluted $ (0.24 ) $ (0.23 ) $ (0.68 ) $ (0.46 ) The computation of diluted earnings per share excludes the effect of the potential exercise of stock awards, including stock options and restricted stock units, when the average market price of the common stock is lower than the exercise price of the related stock award during the period, as the inclusion of these stock awards in the computation of diluted earnings would be anti-dilutive. For the three months ended and , there were million and million, respectively, of potentially dilutive shares consisting of stock awards that were excluded from the calculation of earnings per diluted share. For the and , there were million and million, respectively, of potentially dilutive shares consisting of stock awards that were excluded from the calculation of earnings per diluted share. In periods for which

Leases

Leases	6 Months Ended
	Jun. 30, 2022
Leases [Abstract]
Leases	7. Leases We account for leases in accordance with ASC Topic 842: Leases. We enter into lease agreements for the use of real estate space and certain equipment under operating leases and we have no financing leases. Our leases are included in “Right-of-use-assets” and “Lease liabilities” in our Condensed Consolidated Balance Sheet. Our leases have remaining lease terms of two two On April 30, 2021, we entered into an amendment to modify the expiration date of our lease on our Hamden, Connecticut facility. . On April 26, 2022, we entered into an amendment to modify the expiration date of our lease on our Las Vegas, Nevada facility. The lease was set to expire on November 1, 2022 and the amendment extended the lease term to November 30, 2025. The lease amendment resulted in an increase to the right-of-use-asset and lease liability of $0.8 million . The lease amendment modified the base rent and extended the lease term from October 31, 2022 to November 30, 2025. Operating lease expense for the three months ended June 30, 2022 and 2021 was $250 thousand and $239 thousand, respectively, and is reported as “Cost of sales”, “Engineering, design and product development expense”, “Selling and marketing expense”, and “General and administrative expense” in the Condensed Consolidated Statements of Operations. Operating lease expense for the six months ended June 30, 2022 and 2021 was $487 thousand and $482 thousand, respectively. Operating lease expenses include short-term lease costs, which were immaterial during the periods presented. The following information represents supplemental disclosure for the statement of cash flows related to operating leases (in thousands): Six Months Ended June 30, 2022 2021 Operating cash outflows from leases $ 456 $ 522 The following summarizes additional information related to our leases as of June 30, 2022 and December 31, 2021: June 30, 2022 December 31, 2021 Weighted average remaining lease term (in years) 3.2 3.5 Weighted average discount rate 4.5 % 4.4 % The maturity of the Company’s operating lease liabilities as of June 30, 2022 and December 31, 2021 were as follows (in thousands): June 30, 2022 December 31, 2021 2022 $ 461 $ 886 2023 972 721 2024 1,023 721 2025 711 426 2026 21 23 Total undiscounted lease payments 3,188 2,777 Less imputed interest 229 207 Total lease liabilities $ 2,959 $ 2,570

Income taxes

Income taxes	6 Months Ended
	Jun. 30, 2022
Income taxes [Abstract]
Income taxes	8. Income taxes We recorded an income tax benefit for the second quarter of 2022 of $870 thousand at an effective tax rate of (26.8%), compared to an income tax benefit for the second quarter of 2021 of $664 thousand at an effective tax rate of (24.6%). For the six months ended June 30, 2022, we recorded an income tax benefit of $2.2 million at an effective tax rate of (24.9%), compared to an income tax benefit for the six months ended June 30, 2021 of $1.2 million at an effective tax rate of (22.4%). We are subject to U.S. federal income tax, as well as income tax in certain U.S. states and foreign jurisdictions. We have substantially concluded all U.S. federal, state and local income tax, and foreign tax regulatory examination matters through 2017. However, our federal tax returns for the years 2018 through 2021 remain open to examination. Various state and foreign tax jurisdiction tax years remain open to examination as well, though we believe that any additional assessment would be immaterial to the Condensed Consolidated Financial Statements. As of June 30, 2022, we had $144 thousand of total gross unrecognized tax benefits that, if recognized, would favorably affect the effective income tax rate in future periods. We recognize interest and penalties related to uncertain tax positions in the income tax provision reported as “Deferred Tax Assets” in the Condensed Consolidated Balance Sheet. As of June 30, 2022, we had $29 thousand of accrued interest and penalties related to uncertain tax positions. The Company maintains a valuation allowance against certain deferred tax assets where realization is not likely.

Change in accounting principle

Change in accounting principle	6 Months Ended
	Jun. 30, 2022
Change in accounting principle [Abstract]
Change in accounting principle	9. Change in accounting principle Effective April 1, 2022, TransAct changed its method of inventory valuation from standard costing which approximates FIFO to the average costing methodology. We believe this methodology is preferable because it reflects a better measurement estimate of inventory cost as we do not typically perform intensive manufacturing of our finished products which are therefore better measured under average cost. In addition, our business is projected to include an increasing sales volume of software going forward, which better aligns with average costing. Comparative financial statements of prior periods have been adjusted to apply the new method retrospectively. Tax effects are calculated at the Company’s marginal tax rate, or the tax impact of incremental income changes rather than the average tax rate applied to our total net loss before income taxes. The following financial statement line items for the periods presented were impacted by the change in accounting principle. The effect of the changes made to the Company’s Condensed Consolidated Balance Sheets follows: December 31, 2021 Under FIFO Cost Under Average Cost Effect of Change Inventories $ 7,720 $ 7,711 $ (9 ) Deferred tax assets 5,141 5,143 2 Retained earnings 15,573 15,566 (7 ) The ending balance in retained earnings as of December 31, 2020 was adjusted from $19,718 to $19,607. The effect of the changes made to the Company’s Condensed Consolidated Statements of Operations follows: Three months ended March 31, 2022 Three months ended June 30, 2021 Under FIFO Cost Under Average Cost Effect of Change Under FIFO Cost Under Average Cost Effect of Change Cost of sales $ 6,708 $ 7,136 $ 428 $ 6,000 $ 5,893 $ (107 ) Gross profit 2,994 2,566 (428 ) 3,325 3,432 107 Operating loss (5,176 ) (5,604 ) (428 ) (2,755 ) (2,648 ) 107 Loss before income taxes (5,275 ) (5,703 ) (428 ) (2,801 ) (2,694 ) 107 Income tax benefit 1,262 1,355 93 687 664 (23 ) Net loss (4,013 ) (4,348 ) (335 ) (2,114 ) (2,030 ) 84 Net loss per common share: Basic $ (0.41 ) $ (0.44 ) $ (0.03 ) $ (0.24 ) $ (0.23 ) $ 0.01 Diluted $ (0.41 ) $ (0.44 ) $ (0.03 ) $ (0.24 ) $ (0.23 ) $ 0.01 Shares used in per-share calculation: Basic 9,886 9,886 8,976 8,976 Diluted 9,886 9,886 8,976 8,976 Six months ended June 30, 2021 Under FIFO Cost Under Average Cost Effect of Change Cost of sales $ 11,112 $ 10,855 $ (257 ) Gross profit 6,514 6,771 257 Operating loss (5,421 ) (5,164 ) 257 Loss before income taxes (5,563 ) (5,306 ) 257 Income tax benefit 1,243 1,187 (56 ) Net loss (4,320 ) (4,119 ) 201 Net loss per common share: Basic $ (0.48 ) $ (0.46 ) $ 0.02 Diluted $ (0.48 ) $ (0.46 ) $ 0.02 Shares used in per-share calculation: Basic 8,962 8,962 Diluted 8,962 8,962 The effect of the changes made to the Company’s Condensed Consolidated Statements of Comprehensive Loss follows: Three months ended March 31, 2022 Three months ended June 30, 2021 Under FIFO Cost Under Average Cost Effect of Change Under FIFO Cost Under Average Cost Effect of Change Net loss $ (4,013 ) $ (4,348 ) $ (335 ) $ (2,114 ) $ (2,030 ) $ 84 Comprehensive loss (4,055 ) (4,390 ) (335 ) (2,082 ) (1,998 ) 84 Six months ended June 30, 2021 Under FIFO Cost Under Average Cost Effect of Change Net loss $ (4,320 ) $ (4,119 ) $ 201 Comprehensive loss (4,235 ) (4,034 ) 201 The effect of the changes made to the Company’s Condensed Consolidated Statements of Cash Flows follows: Three months ended March 31, 2022 Six months ended June 30, 2021 Under FIFO Cost Under Average Cost Effect of Change Under FIFO Cost Under Average Cost Effect of Change Net loss $ (4,013 ) $ (4,348 ) $ (335 ) $ (4,320 ) $ (4,119 ) $ 201 Deferred income taxes (1,262 ) (1,355 ) (93 ) (1,209 ) (1,153 ) 56 Inventories (1,344 ) (916 ) 428 2,591 2,334 (257 ) The effect of the changes made to the Company’s Condensed Consolidated Statements of Changes in Shareholders’ Equity follows: Three months ended March 31, 2022 Three months ended June 30, 2021 Under FIFO Cost Under Average Cost Effect of Change Under FIFO Cost Under Average Cost Effect of Change Equity beginning balance $ 38,991 $ 38,984 $ (7 ) $ 28,363 $ 28,369 $ 6 Retained earnings -- beginning of period 15,573 15,566 (7 ) 17,512 17,518 6 Net loss (4,013 ) (4,348 ) (335 ) (2,114 ) (2,030 ) 84 Retained earnings -- end of period 11,560 11,218 (342 ) 15,398 15,488 90 Equity ending balance 35,113 34,771 (342 ) 26,873 26,963 90 Six months ended June 30, 2021 Under FIFO Cost Under Average Cost Effect of Change Equity beginning balance $ 30,236 $ 30,125 $ (111 ) Retained earnings -- beginning of period 19,718 19,607 (111 ) Net loss (4,320 ) (4,119 ) 201 Retained earnings -- end of period 15,398 15,488 90 Equity ending balance 26,873 26,963 90

Subsequent events

Subsequent events	6 Months Ended
	Jun. 30, 2022
Subsequent events [Abstract]
Subsequent events	10. Subsequent events The Company has evaluated all events or transactions that occurred up to the date the Condensed Consolidated Financial Statements were issued. Based upon this review, other than the below, the Company did not identify any other additional subsequent events that would have required adjustment or disclosure in the Condensed Consolidated Financial Statements. On July 19, 2022, the Company and the Lender entered into Amendment No. 2 (the “Credit Facility Amendment No. 2”) to the Loan and Security Agreement, dated as of March 13, 2020, between the Lender and the Company, as amended by Amendment No. 1, dated as of July 21, 2021, between the Lender and the Company. Also on July 19, 2022, the Company and the Lender entered into an Amended and Restated Fee Letter (the “Amended Fee Letter”) in connection with the Credit Facility Amendment No. 2. The Credit Facility Amendment No. 2 did not modify the aggregate amount of the revolving commitment or the interest rate applicable to the loans. The changes to the Siena Credit Facility provided for in the Credit Facility Amendment No. 2 include, among other things, the following: (i) The extension of the maturity date from March 13, 2023 to March 13, 2025; and (ii) The termination of the existing blocked account control agreement and entry into a new “springing” deposit account control agreement, permitting the Company to direct the use of funds in its deposit account until such time as (a) the sum of excess availability under Siena Credit Facility (as amended by the Credit Facility Amendment) and unrestricted cash is less than $5 million for 3 consecutive business days or (b) an event of default occurs and is continuing. In addition, the Amended Fee Letter requires the Company, while it retains the ability to direct the use of funds in the deposit account, to maintain outstanding borrowings of at least $2,250,000 in principal amount. If the Company does not have the ability to direct the use of funds in the deposit account, then the Amended Fee Letter requires the Company to pay interest on at least $2,250,000 principal amount of loans, whether or not such amount of loans is actually outstanding. The Company has evaluated all events or transactions that occurred up to the date the Condensed Consolidated Financial Statements were available to be issued. Based upon this review, the Company did not identify any other additional subsequent events that would have required adjustment or disclosure in the Condensed Consolidated Financial Statements.

Basis of presentation (Policies

Basis of presentation (Policies)	6 Months Ended
	Jun. 30, 2022
Basis of presentation [Abstract]
Basis of Accounting	The . The Condensed Consolidated Balance Sheet data was derived from audited financial statements, but does not include all disclosures required by U.S. GAAP. These interim financial statements should be read in conjunction with the audited financial statements in our Annual Report on Form 10-K for the year ended .
Foreign Currency Translation	The financial position and results of operations of our U.K. subsidiary are measured using the local currency as the functional currency. Assets and liabilities of such subsidiary have been translated at the end-of-period exchange rates, and related revenues and expenses have been translated at the exchange rate as of the date the transaction was recognized, with the resulting translation gain or loss recorded in “Accumulated other comprehensive income, net of tax” in the Condensed Consolidated Balance Sheets and “Accumulated other comprehensive income (loss)” in the Condensed Consolidated Statements of Changes in Shareholders’ Equity. Transaction gains and losses are included in “Other, net” in the Condensed Consolidated Statements of Operations.
Use of Assumptions and Estimates	Use of Assumptions and Estimates Management’s belief that the Company will be able to fund its planned operations over the 12 months following the date on which the Condensed Consolidated Financial Statements were issued is based on assumptions which involve significant judgment and estimates of future revenues, capital expenditures and other operating costs. Our current assumptions are that casinos and restaurants will remain open and consumer traffic will continue to increase during the balance of 2022, but that casinos and restaurants may delay purchases of new slot machines and our BOHA! products, respectively, due to labor shortages, supply issues and inflation caused by the COVID-19 pandemic. Based on these assumptions, we anticipate that sales in casino and gaming and food service technology may continue to be negatively impacted for the foreseeable future. We have performed a sensitivity analysis on these assumptions to forecast the potential impact of a slower-than-anticipated recovery and believe that we are positioned to withstand the impact of lower-than-anticipated sales and that we will be able to take additional financial and operational actions to cut costs and/or increase liquidity, if necessary. These actions may include additional expense reductions and capital raising activities. In addition, the presentation of the accompanying unaudited financial statements requires us to make estimates and judgments that affect the reported amounts of assets, liabilities, revenue and expenses, and the disclosure of contingent assets and liabilities. Our estimates include those related to revenue recognition, accounts receivable, inventory obsolescence, goodwill and intangible assets, the valuation of deferred tax assets and liabilities, depreciable lives of equipment, warranty obligations, share-based compensation and contingent liabilities. We base our estimates on historical experience and on various other assumptions that we believe to be reasonable under the circumstances. Actual results could differ from those estimates used.

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Jun. 30, 2022
Revenue [Abstract]
Disaggregation of Revenue	The following tables disaggregate our revenue by market type, as we believe it best depicts how the nature, amount, timing and uncertainty of our revenue and cash flows are affected by economic factors. Sales and usage-based taxes are excluded from revenues. Three Months Ended June 30, 2022 2021 (In thousands) United States International Total United States International Total Food service technology $ 3,281 $ 151 $ 3,432 $ 2,987 $ 87 $ 3,074 POS automation 1,172 – 1,172 1,252 4 1,256 Casino and gaming 3,929 2,596 6,525 2,438 1,029 3,467 Printrex – – – 25 87 112 TransAct Services Group 1,345 149 1,494 1,252 164 1,416 Total net sales $ 9,727 $ 2,896 $ 12,623 $ 7,954 $ 1,371 $ 9,325 Six Months Ended June 30, 2022 2021 (In thousands) United States International Total United States International Total Food service technology $ 5,227 $ 335 $ 5,562 $ 5,551 $ 270 $ 5,821 POS automation 2,472 – 2,472 2,412 8 2,420 Casino and gaming 6,717 4,570 11,287 4,402 1,930 6,332 Printrex – – – 52 219 271 TransAct Services Group 2,413 591 3,004 2,532 250 2,782 Total net sales $ 16,829 $ 5,496 $ 22,325 $ 14,949 $ 2,677 $ 17,626
Net Contract Liabilities	Total net contract liabilities consisted of the following: June 30, 2022 December 31, 2021 (In thousands) Unbilled receivables, current $ 342 $ 314 Unbilled receivables, non-current 185 308 Customer pre-payments (320 ) (99 ) Deferred revenue, current (887 ) (805 ) Deferred revenue, non-current (169 ) (186 ) Total net contract liabilities $ (849 ) $ (468 )

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2022
Inventories [Abstract]
Inventories	The components of inventories were: June 30, 2022 December 31, 2021 (In thousands) Raw materials and purchased component parts $ 9,242 $ 6,470 Work-in-process – 11 Finished goods 1,665 1,230 $ 10,907 $ 7,711

Accrued product warranty liab_2

Accrued product warranty liability (Tables)	6 Months Ended
	Jun. 30, 2022
Accrued product warranty liability [Abstract]
Product Warranty Liability	The following table summarizes the activity recorded in the accrued product warranty liability during the six months ended June 30, 2022 and 2021: Six Months Ended June 30, 2022 2021 (In thousands) Balance, beginning of period $ 101 $ 140 Warranties issued 12 19 Warranty settlements (33 ) (45 ) Balance, end of period $ 80 $ 114

Earnings per share (Tables)

Earnings per share (Tables)	6 Months Ended
	Jun. 30, 2022
Earnings per share [Abstract]
Earnings per Share	The following table sets forth the reconciliation of basic weighted average shares outstanding and diluted weighted average shares outstanding: Three Months Ended Six Months Ended June 30, June 30, 2022 2021 2022 2021 (In thousands, except per share data) Net loss $ (2,376 ) $ (2,030 ) $ (6,724 ) $ (4,119 ) Shares: Basic: Weighted average common shares outstanding 9,910 8,976 9,898 8,962 Add: Dilutive effect of outstanding options and restricted stock units as determined by the treasury stock method – – – – Diluted: Weighted average common and common equivalent shares outstanding 9,910 8,976 9,898 8,962 Net loss per common share: Basic $ (0.24 ) $ (0.23 ) $ (0.68 ) $ (0.46 ) Diluted $ (0.24 ) $ (0.23 ) $ (0.68 ) $ (0.46 )

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2022
Leases [Abstract]
Cash Flows for Operating Leases	The following information represents supplemental disclosure for the statement of cash flows related to operating leases (in thousands): Six Months Ended June 30, 2022 2021 Operating cash outflows from leases $ 456 $ 522
Additional Information Related to Leases	The following summarizes additional information related to our leases as of June 30, 2022 and December 31, 2021: June 30, 2022 December 31, 2021 Weighted average remaining lease term (in years) 3.2 3.5 Weighted average discount rate 4.5 % 4.4 %
Maturity of Operating Lease Liabilities	The maturity of the Company’s operating lease liabilities as of June 30, 2022 and December 31, 2021 were as follows (in thousands): June 30, 2022 December 31, 2021 2022 $ 461 $ 886 2023 972 721 2024 1,023 721 2025 711 426 2026 21 23 Total undiscounted lease payments 3,188 2,777 Less imputed interest 229 207 Total lease liabilities $ 2,959 $ 2,570

Change in accounting principle

Change in accounting principle (Tables)	6 Months Ended
	Jun. 30, 2022
Change in accounting principle [Abstract]
Financial Statement Line Items Impacted by Change in Accounting Principle	The effect of the changes made to the Company’s Condensed Consolidated Balance Sheets follows: December 31, 2021 Under FIFO Cost Under Average Cost Effect of Change Inventories $ 7,720 $ 7,711 $ (9 ) Deferred tax assets 5,141 5,143 2 Retained earnings 15,573 15,566 (7 ) The ending balance in retained earnings as of December 31, 2020 was adjusted from $19,718 to $19,607. The effect of the changes made to the Company’s Condensed Consolidated Statements of Operations follows: Three months ended March 31, 2022 Three months ended June 30, 2021 Under FIFO Cost Under Average Cost Effect of Change Under FIFO Cost Under Average Cost Effect of Change Cost of sales $ 6,708 $ 7,136 $ 428 $ 6,000 $ 5,893 $ (107 ) Gross profit 2,994 2,566 (428 ) 3,325 3,432 107 Operating loss (5,176 ) (5,604 ) (428 ) (2,755 ) (2,648 ) 107 Loss before income taxes (5,275 ) (5,703 ) (428 ) (2,801 ) (2,694 ) 107 Income tax benefit 1,262 1,355 93 687 664 (23 ) Net loss (4,013 ) (4,348 ) (335 ) (2,114 ) (2,030 ) 84 Net loss per common share: Basic $ (0.41 ) $ (0.44 ) $ (0.03 ) $ (0.24 ) $ (0.23 ) $ 0.01 Diluted $ (0.41 ) $ (0.44 ) $ (0.03 ) $ (0.24 ) $ (0.23 ) $ 0.01 Shares used in per-share calculation: Basic 9,886 9,886 8,976 8,976 Diluted 9,886 9,886 8,976 8,976 Six months ended June 30, 2021 Under FIFO Cost Under Average Cost Effect of Change Cost of sales $ 11,112 $ 10,855 $ (257 ) Gross profit 6,514 6,771 257 Operating loss (5,421 ) (5,164 ) 257 Loss before income taxes (5,563 ) (5,306 ) 257 Income tax benefit 1,243 1,187 (56 ) Net loss (4,320 ) (4,119 ) 201 Net loss per common share: Basic $ (0.48 ) $ (0.46 ) $ 0.02 Diluted $ (0.48 ) $ (0.46 ) $ 0.02 Shares used in per-share calculation: Basic 8,962 8,962 Diluted 8,962 8,962 The effect of the changes made to the Company’s Condensed Consolidated Statements of Comprehensive Loss follows: Three months ended March 31, 2022 Three months ended June 30, 2021 Under FIFO Cost Under Average Cost Effect of Change Under FIFO Cost Under Average Cost Effect of Change Net loss $ (4,013 ) $ (4,348 ) $ (335 ) $ (2,114 ) $ (2,030 ) $ 84 Comprehensive loss (4,055 ) (4,390 ) (335 ) (2,082 ) (1,998 ) 84 Six months ended June 30, 2021 Under FIFO Cost Under Average Cost Effect of Change Net loss $ (4,320 ) $ (4,119 ) $ 201 Comprehensive loss (4,235 ) (4,034 ) 201 The effect of the changes made to the Company’s Condensed Consolidated Statements of Cash Flows follows: Three months ended March 31, 2022 Six months ended June 30, 2021 Under FIFO Cost Under Average Cost Effect of Change Under FIFO Cost Under Average Cost Effect of Change Net loss $ (4,013 ) $ (4,348 ) $ (335 ) $ (4,320 ) $ (4,119 ) $ 201 Deferred income taxes (1,262 ) (1,355 ) (93 ) (1,209 ) (1,153 ) 56 Inventories (1,344 ) (916 ) 428 2,591 2,334 (257 ) The effect of the changes made to the Company’s Condensed Consolidated Statements of Changes in Shareholders’ Equity follows: Three months ended March 31, 2022 Three months ended June 30, 2021 Under FIFO Cost Under Average Cost Effect of Change Under FIFO Cost Under Average Cost Effect of Change Equity beginning balance $ 38,991 $ 38,984 $ (7 ) $ 28,363 $ 28,369 $ 6 Retained earnings -- beginning of period 15,573 15,566 (7 ) 17,512 17,518 6 Net loss (4,013 ) (4,348 ) (335 ) (2,114 ) (2,030 ) 84 Retained earnings -- end of period 11,560 11,218 (342 ) 15,398 15,488 90 Equity ending balance 35,113 34,771 (342 ) 26,873 26,963 90 Six months ended June 30, 2021 Under FIFO Cost Under Average Cost Effect of Change Equity beginning balance $ 30,236 $ 30,125 $ (111 ) Retained earnings -- beginning of period 19,718 19,607 (111 ) Net loss (4,320 ) (4,119 ) 201 Retained earnings -- end of period 15,398 15,488 90 Equity ending balance 26,873 26,963 90

Basis of presentation (Details)

Basis of presentation (Details) $ in Thousands			12 Months Ended
	Aug. 16, 2021 USD ($) shares	Oct. 16, 2020 USD ($) shares	Dec. 31, 2021 USD ($)	Jun. 30, 2022 USD ($) Manufacturer	May 01, 2020 USD ($)	Mar. 13, 2020 USD ($)
Basis of presentation [Abstract]
Proceeds from Public Offering	$ 11,200	$ 8,700
Shares sold in Public Offering (in shares) | shares	842,375	1,380,000
Basis of presentation [Abstract]
Number of manufacturers in China and Thailand | Manufacturer				2
Gain from employee retention credit			$ 1,500
Employee retention credit receivable			$ 1,500	$ 1,500
PPP Loan [Member]
Basis of presentation [Abstract]
Face amount					$ 2,200
Sienna Credit Facility [Member]
Basis of presentation [Abstract]
Maximum borrowing capacity						$ 10,000

Revenue, Disaggregation of Reve

Revenue, Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Disaggregation of revenue [Abstract]
Net sales	$ 12,623	$ 9,325	$ 22,325	$ 17,626
United States [Member]
Disaggregation of revenue [Abstract]
Net sales	9,727	7,954	16,829	14,949
International [Member]
Disaggregation of revenue [Abstract]
Net sales	2,896	1,371	5,496	2,677
Food Service Technology [Member]
Disaggregation of revenue [Abstract]
Net sales	3,432	3,074	5,562	5,821
Food Service Technology [Member] | United States [Member]
Disaggregation of revenue [Abstract]
Net sales	3,281	2,987	5,227	5,551
Food Service Technology [Member] | International [Member]
Disaggregation of revenue [Abstract]
Net sales	151	87	335	270
POS Automation [Member]
Disaggregation of revenue [Abstract]
Net sales	1,172	1,256	2,472	2,420
POS Automation [Member] | United States [Member]
Disaggregation of revenue [Abstract]
Net sales	1,172	1,252	2,472	2,412
POS Automation [Member] | International [Member]
Disaggregation of revenue [Abstract]
Net sales	0	4	0	8
Casino and Gaming [Member]
Disaggregation of revenue [Abstract]
Net sales	6,525	3,467	11,287	6,332
Casino and Gaming [Member] | United States [Member]
Disaggregation of revenue [Abstract]
Net sales	3,929	2,438	6,717	4,402
Casino and Gaming [Member] | International [Member]
Disaggregation of revenue [Abstract]
Net sales	2,596	1,029	4,570	1,930
Printrex [Member]
Disaggregation of revenue [Abstract]
Net sales	0	112	0	271
Printrex [Member] | United States [Member]
Disaggregation of revenue [Abstract]
Net sales	0	25	0	52
Printrex [Member] | International [Member]
Disaggregation of revenue [Abstract]
Net sales	0	87	0	219
TransAct Services Group [Member]
Disaggregation of revenue [Abstract]
Net sales	1,494	1,416	3,004	2,782
TransAct Services Group [Member] | United States [Member]
Disaggregation of revenue [Abstract]
Net sales	1,345	1,252	2,413	2,532
TransAct Services Group [Member] | International [Member]
Disaggregation of revenue [Abstract]
Net sales	$ 149	$ 164	$ 591	$ 250

Revenue, Contract Balances (Det

Revenue, Contract Balances (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Revenue [Abstract]
Revenue recognized	$ 600
Contract liabilities [Abstract]
Unbilled receivables, current	342	$ 314
Unbilled receivables, non-current	185	308
Customer pre-payments	(320)	(99)
Deferred revenue, current	(887)	(805)
Deferred revenue, non-current	(169)	(186)
Total net contract liabilities	$ (849)	$ (468)

Revenue, Remaining Performance

Revenue, Remaining Performance Obligations (Details) $ in Millions	Jun. 30, 2022 USD ($)
Remaining performance obligations [Abstract]
Remaining performance obligations	$ 19.5
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-07-01
Remaining performance obligations [Abstract]
Remaining performance obligations	$ 18.8
Expected timing of satisfaction, period	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-07-01
Remaining performance obligations [Abstract]
Remaining performance obligations	$ 0.6
Expected timing of satisfaction, period	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-01
Remaining performance obligations [Abstract]
Remaining performance obligations
Expected timing of satisfaction, period	12 months

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Inventories [Abstract]
Raw materials and purchased component parts	$ 9,242	$ 6,470
Work-in-process	0	11
Finished goods	1,665	1,230
Inventories	$ 10,907	$ 7,711

Accrued product warranty liab_3

Accrued product warranty liability (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Accrued product warranty liability [Roll Forward]
Balance, beginning of period	$ 101	$ 140
Warranties issued	12	19
Warranty settlements	(33)	(45)
Balance, end of period	80	$ 114
Accrued product warranty liability, current	63
Other Liabilities [Member]
Accrued product warranty liability [Roll Forward]
Accrued product warranty liability, non-current	$ 17
Maximum [Member]
Warranty [Abstract]
Product warranty period	24 months

Debt (Details)

Debt (Details) - USD ($) $ in Thousands		6 Months Ended
	Jul. 01, 2021	Jun. 30, 2022	Jul. 21, 2021	May 01, 2020	Mar. 13, 2020
Sienna Credit Facility [Member]
Debt [Abstract]
Maximum borrowing capacity					$ 10,000
Maturity date		Mar. 13, 2023
Interest rate		6.50%
Deferred financing costs					$ 245
Percentage fee on unused borrowings		0.50%
Percentage of eligible accounts receivable		85%
Eligible inventory		$ 5,000
Percentage of eligible raw material		50%
Percentage of eligible finished goods inventory		60%
Balance outstanding		$ 0
Additional borrowing capacity		$ 4,500
Sienna Credit Facility [Member] | Minimum [Member]
Debt [Abstract]
Additional borrowing capacity			$ 750
Sienna Credit Facility [Member] | Prime Rate [Member]
Debt [Abstract]
Basis spread on variable rate		1.75%
Sienna Credit Facility [Member] | Federal Funds Rate [Member]
Debt [Abstract]
Basis spread on variable rate		2.25%
PPP Loan [Member]
Debt [Abstract]
Face amount				$ 2,200
Loan forgiven	$ 2,200

Earnings per share (Details)

Earnings per share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Earnings per share [Abstract]
Net loss	$ (2,376)	$ (4,348)	$ (2,030)	$ (6,724)	$ (4,119)
Shares [Abstract]
Basic: Weighted average common shares outstanding (in shares)	9,910	9,886	8,976	9,898	8,962
Add: Dilutive effect of outstanding options and restricted stock units as determined by the treasury stock method (in shares)	0		0	0	0
Diluted: Weighted average common and common equivalent shares outstanding (in shares)	9,910	9,886	8,976	9,898	8,962
Net loss per common share [Abstract]
Basic (in dollars per share)	$ (0.24)	$ (0.44)	$ (0.23)	$ (0.68)	$ (0.46)
Diluted (in dollars per share)	$ (0.24)	$ (0.44)	$ (0.23)	$ (0.68)	$ (0.46)
Stock Awards [Member]
Earnings per share [Abstract]
Anti-dilutive securities excluded from computation of earnings per dilutive share (in shares)	1,500		300	1,200	700

Leases (Details)

Leases (Details) - USD ($) $ in Thousands			3 Months Ended		6 Months Ended
	Apr. 26, 2022	Apr. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Leases [Abstract]
Operating lease expense			$ 250	$ 239	$ 487	$ 482
Operating cash outflows from leases					$ 456	$ 522
Weighted average remaining lease term			3 years 2 months 12 days		3 years 2 months 12 days		3 years 6 months
Weighted average discount rate			4.50%		4.50%		4.40%
Maturity of Operating Lease Liabilities [Abstract]
2022			$ 461		$ 461		$ 886
2023			972		972		721
2024			1,023		1,023		721
2025			711		711		426
2026			21		21		23
Total undiscounted lease payments			3,188		3,188		2,777
Less imputed interest			229		229		207
Total lease liabilities			$ 2,959		$ 2,959		$ 2,570
Minimum [Member]
Leases [Abstract]
Remaining lease terms			2 years		2 years
Extension period for leases			2 years		2 years
Maximum [Member]
Leases [Abstract]
Remaining lease terms			4 years		4 years
Extension period for leases			5 years		5 years
Termination period for leases					1 year
Facility in Hamden, Connecticut [Member]
Leases [Abstract]
Extension period for leases			2 years		2 years
Increase (decrease) in right-of-use-asset		$ (300)
Increase (decrease) in operating lease liability		$ (300)
Facility in Las Vegas, Nevada [Member]
Leases [Abstract]
Increase (decrease) in right-of-use-asset	$ 800
Increase (decrease) in operating lease liability	$ 800

Income taxes (Details)

Income taxes (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income taxes [Abstract]
Income tax benefit	$ 870	$ 1,355	$ 664	$ 2,225	$ 1,187
Effective tax rate	(26.80%)		(24.60%)	(24.90%)	(22.40%)
Unrecognized tax benefits that would favorably affect effective income tax rate if recognized	$ 144			$ 144
Accrued interest and penalties related to uncertain tax positions	$ 29			$ 29

Change in accounting principle,

Change in accounting principle, Effect of Change on Balance Sheets (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021	Dec. 31, 2020
Condensed Consolidated Balance Sheets [Abstract]
Inventories	$ 10,907	$ 7,711
Deferred tax assets	7,325	5,143
Retained earnings	$ 8,842	15,566	$ 19,607
Previously Reported [Member]
Condensed Consolidated Balance Sheets [Abstract]
Inventories		7,720
Deferred tax assets		5,141
Retained earnings		15,573	$ 19,718
Effect of Change [Member] | Change in Method of Inventory Valuation to Average Costing [Member]
Condensed Consolidated Balance Sheets [Abstract]
Inventories		(9)
Deferred tax assets		2
Retained earnings		$ (7)

Change in accounting principl_2

Change in accounting principle, Effect of Change on Statements of Operations (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Condensed Consolidated Statements of Operations [Abstract]
Cost of sales	$ 7,189	$ 7,136	$ 5,893	$ 14,325	$ 10,855
Gross profit	5,434	2,566	3,432	8,000	6,771
Operating loss	(2,954)	(5,604)	(2,648)	(8,558)	(5,164)
Loss before income taxes	(3,246)	(5,703)	(2,694)	(8,949)	(5,306)
Income tax benefit	870	1,355	664	2,225	1,187
Net loss	$ (2,376)	$ (4,348)	$ (2,030)	$ (6,724)	$ (4,119)
Net loss per common share [Abstract]
Basic (in dollars per share)	$ (0.24)	$ (0.44)	$ (0.23)	$ (0.68)	$ (0.46)
Diluted (in dollars per share)	$ (0.24)	$ (0.44)	$ (0.23)	$ (0.68)	$ (0.46)
Shares used in per-share calculation [Abstract]
Basic (in shares)	9,910	9,886	8,976	9,898	8,962
Diluted (in shares)	9,910	9,886	8,976	9,898	8,962
Previously Reported [Member]
Condensed Consolidated Statements of Operations [Abstract]
Cost of sales		$ 6,708	$ 6,000		$ 11,112
Gross profit		2,994	3,325		6,514
Operating loss		(5,176)	(2,755)		(5,421)
Loss before income taxes		(5,275)	(2,801)		(5,563)
Income tax benefit		1,262	687		1,243
Net loss		$ (4,013)	$ (2,114)		$ (4,320)
Net loss per common share [Abstract]
Basic (in dollars per share)		$ (0.41)	$ (0.24)		$ (0.48)
Diluted (in dollars per share)		$ (0.41)	$ (0.24)		$ (0.48)
Shares used in per-share calculation [Abstract]
Basic (in shares)		9,886	8,976		8,962
Diluted (in shares)		9,886	8,976		8,962
Effect of Change [Member] | Change in Method of Inventory Valuation to Average Costing [Member]
Condensed Consolidated Statements of Operations [Abstract]
Cost of sales		$ 428	$ (107)		$ (257)
Gross profit		(428)	107		257
Operating loss		(428)	107		257
Loss before income taxes		(428)	107		257
Income tax benefit		93	(23)		(56)
Net loss		$ (335)	$ 84		$ 201
Net loss per common share [Abstract]
Basic (in dollars per share)		$ (0.03)	$ 0.01		$ 0.02
Diluted (in dollars per share)		$ (0.03)	$ 0.01		$ 0.02

Change in accounting principl_3

Change in accounting principle, Effect of Change on Statements of Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Condensed Consolidated Statements of Comprehensive Loss [Abstract]
Net loss	$ (2,376)	$ (4,348)	$ (2,030)	$ (6,724)	$ (4,119)
Comprehensive loss	$ (2,384)	(4,390)	(1,998)	$ (6,774)	(4,034)
Previously Reported [Member]
Condensed Consolidated Statements of Comprehensive Loss [Abstract]
Net loss		(4,013)	(2,114)		(4,320)
Comprehensive loss		(4,055)	(2,082)		(4,235)
Effect of Change [Member] | Change in Method of Inventory Valuation to Average Costing [Member]
Condensed Consolidated Statements of Comprehensive Loss [Abstract]
Net loss		(335)	84		201
Comprehensive loss		$ (335)	$ 84		$ 201

Change in accounting principl_4

Change in accounting principle, Effect of Change on Statements of Cash Flows (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Condensed Consolidated Statements of Cash Flows [Abstract]
Net loss	$ (2,376)	$ (4,348)	$ (2,030)	$ (6,724)	$ (4,119)
Deferred income taxes		(1,355)		(2,227)	(1,153)
Inventories		(916)		$ (3,250)	2,334
Previously Reported [Member]
Condensed Consolidated Statements of Cash Flows [Abstract]
Net loss		(4,013)	(2,114)		(4,320)
Deferred income taxes		(1,262)			(1,209)
Inventories		(1,344)			2,591
Effect of Change [Member] | Change in Method of Inventory Valuation to Average Costing [Member]
Condensed Consolidated Statements of Cash Flows [Abstract]
Net loss		(335)	$ 84		201
Deferred income taxes		(93)			56
Inventories		$ 428			$ (257)

Change in accounting principl_5

Change in accounting principle, Effect of Change on Statements of Changes in Shareholders' Equity (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Condensed Consolidated Statements of Changes in Shareholders' Equity [Abstract]
Beginning balance	$ 34,771	$ 38,984	$ 28,369	$ 38,984	$ 30,125
Net loss	(2,376)	(4,348)	(2,030)	(6,724)	(4,119)
Ending balance	32,672	34,771	26,963	32,672	26,963
Retained Earnings [Member]
Condensed Consolidated Statements of Changes in Shareholders' Equity [Abstract]
Beginning balance	11,218	15,566	17,518	15,566	19,607
Net loss	(2,376)		(2,030)	(6,724)	(4,119)
Ending balance	8,842	11,218	15,488	8,842	15,488
Previously Reported [Member]
Condensed Consolidated Statements of Changes in Shareholders' Equity [Abstract]
Beginning balance	35,113	38,991	28,363	38,991	30,236
Net loss		(4,013)	(2,114)		(4,320)
Ending balance		35,113	26,873		26,873
Previously Reported [Member] | Retained Earnings [Member]
Condensed Consolidated Statements of Changes in Shareholders' Equity [Abstract]
Beginning balance	11,560	15,573	17,512	15,573	19,718
Ending balance		11,560	15,398		15,398
Effect of Change [Member] | Change in Method of Inventory Valuation to Average Costing [Member]
Condensed Consolidated Statements of Changes in Shareholders' Equity [Abstract]
Beginning balance	(342)	(7)	6	(7)	(111)
Net loss		(335)	84		201
Ending balance		(342)	90		90
Effect of Change [Member] | Retained Earnings [Member] | Change in Method of Inventory Valuation to Average Costing [Member]
Condensed Consolidated Statements of Changes in Shareholders' Equity [Abstract]
Beginning balance	$ (342)	(7)	6	$ (7)	(111)
Ending balance		$ (342)	$ 90		$ 90

Subsequent events (Details)

Subsequent events (Details) - Subsequent Event [Member] - Sienna Credit Facility [Member]	Jul. 19, 2022 USD ($)
Subsequent events [Abstract]
Minimum excess availability and unrestricted cash required	$ 5,000,000
Number of days to maintain excess availability and unrestricted cash	3 days
Minimum principal amount to be maintained to direct use of funds in deposit account	$ 2,250,000
Minimum principal amount on which interest is paid	$ 2,250,000