Added to YB: 2026-08-25
Pitch date: 2026-08-18
TBTC [bullish]
Table Trac, Inc.
+10.57%
current return
Author Info
Matheus Lonning shares independent research. Small/micro cap focus. Long biased. Sign up for the newsletter.
Company Info
Table Trac, Inc. designs, develops, and sells casino and table games management systems in the United States, Australia, Japan, the Caribbean, and Central and South America.
Market Cap
$26.0M
Pitch Price
$4.97
Price Target
12.00 (+114%)
Dividend
1.43%
EV/EBITDA
5.70
P/E
9.83
EV/Sales
1.37
Sector
Hotels, Restaurants and Leisure
Category
value
My favorite stock idea since TRT.
TBTC: Casino tech microcap (~$22M mkt cap, ~$14M EV) mispriced on lumpy system sales while an underappreciated recurring-revenue base compounds ~20% CAGR. TTM P/E ~8.3x, EV/EBITDA ~7-7.5x, no debt, $8.2M cash. Q2'26 rev +81.5% YoY, NI +594%; H1 rev +38.9%, NI +113%. Emerging operating leverage (SG&A flat/down) + new CEO (Jan '26) driving sales momentum; 115+ customers, high switching costs, ~30% insider ownership. Author base case $6.5-7.5, bull $10-14, 12mo PT $12 (author est). Key risk: system sales are lumpy/unpredictable—prolonged install drought caps re-rating; earnings also partly propped by ~$100k/qtr interest income.
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