Table Trac, Inc. (OTCQX: TBTC) reported fiscal‑year 2025 results that included total revenue of $11.0 million and operating income of $1.6 million, a performance that the company described as “continued consistency and stability in our operating performance.” The results were driven by a mix of recurring maintenance contracts and growing subscription‑style fees for its DataTrac and SlotSuite products.
Revenue was largely supported by maintenance contracts, which generated $6.15 million—an increase of 14.4% from the prior year—and accounted for 55.7% of total revenue. Other revenue, primarily recurring monthly fees, rose 13.2%. The company installed CasinoTrac systems in eight new locations during 2025, expanding its footprint to more than 115 casino operators across over 300 casinos worldwide.
Operating income of $1.6 million was achieved in part through a gross margin of 73.7%, up from 70.7% in the third quarter of 2024. The margin improvement reflects a higher mix of high‑margin maintenance contracts and disciplined cost management, even as the company invested in product development and customer support. The operating profit margin therefore expanded, underscoring the company’s ability to convert revenue growth into profitability gains.
Table Trac’s recurring revenue model has become a key driver of its financial health. Maintenance contracts now represent a majority of revenue, and the company’s focus on subscription‑style fees has helped offset the modest decline in total revenue compared with 2024. The eight new system installations are expected to generate additional recurring revenue in future periods, reinforcing the company’s long‑term cash‑flow profile.
The company declared quarterly dividends of $0.02 per share for each of the four quarters of 2025, maintaining its dividend policy while preserving cash. Cash and cash equivalents have grown, providing a buffer for continued investment and dividend payments. However, a single customer contributed 19.2% of 2025 revenue and 34.7% of year‑end receivables, indicating a concentration risk that management has acknowledged.
Management emphasized that the results were “supported by a strong base of recurring maintenance revenue, along with ongoing system sales and related services.” The company also highlighted disciplined cost management and continued investment in product development, customer support, and sales initiatives. Management believes its scalable operating model and long‑term customer relationships position it well to sustain consistent performance moving forward.
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