Table Trac, Inc. announced its financial results for the second quarter and first half ended June 30, 2025. For the first half of 2025, total revenues grew by 7.12% to $5.87 million, up from $5.48 million in the prior year period. Net income for the six-month period increased by 13.29% to $927,021, resulting in basic and diluted EPS of $0.20.
However, the second quarter of 2025 saw a decrease in revenues by 32.37% to $2.34 million, down from $3.46 million in Q2 2024. This was primarily due to the timing of system installations, with only one system delivered in Q2 2025 compared to multiple installations in Q2 2024. Consequently, net income for Q2 2025 fell to $144,782 from $806,570 in Q2 2024, leading to basic and diluted EPS of $0.03.
Despite the quarterly variability, the company's gross profit percentage improved to 75.30% in Q2 2025 and 74.30% in H1 2025, attributed to decreased relative labor costs. Crucially, maintenance revenue, a predictable and high-margin stream, continued to grow, increasing by 19.70% in Q2 2025 to $1.58 million and 18.39% in H1 2025 to $3.09 million.
The company's balance sheet remains strong with $5.85 million in cash and cash equivalents and $2.12 million in short-term investments as of June 30, 2025. Net cash provided by operating activities increased to $1.21 million for the first half of 2025. The backlog for system installations stood at two systems as of June 30, 2025, a decrease from four systems at June 30, 2024, though one new contract was signed subsequent to quarter-end.
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