Electromed(ELMD)

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Electromed(ELMD) - 2023 Q4 - Annual Report
2023-08-21 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☑ Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Fiscal Year Ended June 30, 2023 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Transition Period From ________ to ________. Commission File number 001-34839 Electromed, Inc. (Exact Name of Registrant as Specified in its Charter) (State or other jurisdiction of (IRS Emp ...
Electromed(ELMD) - 2023 Q3 - Earnings Call Transcript
2023-05-13 21:32
Electromed, Inc. (NYSE:ELMD) Q3 2023 Results Conference Call May 9, 2023 5:00 PM ET Company Participants Mike Cavanaugh - Investor Relations Kathleen Skarvan - President and Chief Executive Officer Brad Nagel - Chief Financial Officer Conference Call Participants Brooks O'Neil - Lake Street Capital Markets Operator Welcome to the Electromed Third Quarter Fiscal 2023 Financial Results Conference Call [Operator Instructions]. I will now turn the call over to your host, Mike Cavanaugh, Investor Relations. Mr. ...
Electromed(ELMD) - 2023 Q3 - Quarterly Report
2023-05-08 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . (Address of principal executive offices) (Zip Code) (952) 758-9299 (Registrant's telephone number, including area code) Securities registered pursuant to Se ...
Electromed(ELMD) - 2023 Q2 - Earnings Call Transcript
2023-02-15 01:19
Electromed, Inc. (NYSE:ELMD) Q2 2023 Earnings Conference Call February 14, 2023 5:00 PM ET Company Participants Mike Cavanaugh – Investor Relations Kathleen Skarvan – President and Chief Executive Officer Brad Nagel – Chief Financial Officer Conference Call Participants Brooks O’Neil – Lake Street Operator Greetings, and welcome to Electromed’s Fiscal Second Quarter Earnings Call. At this time all participants are in a listen-only mode. [Operator Instructions] As a reminder, this conference is being recorde ...
Electromed(ELMD) - 2023 Q2 - Quarterly Report
2023-02-13 16:00
Revenue Performance - Total net revenues for the three months ended December 31, 2022, were $11,729,000, an increase of 14.5% compared to $10,248,000 for the same period in 2021[30] - Home care revenue for the six months ended December 31, 2022, was $20,364,000, up 9.0% from $18,688,000 in the prior year[30] - Revenue from the institutional market for the three months ended December 31, 2022, was $589,000, representing a 76.8% increase from $333,000 in the same period of 2021[30] - The company recognized $4,040,000 in commercial payer revenue for the three months ended December 31, 2022, compared to $3,595,000 for the same period in 2021, reflecting a 12.4% increase[30] - Medicare revenue for the six months ended December 31, 2022, was $11,612,000, an increase of 9.8% from $10,576,000 in the same period of 2021[30] Income and Expenses - The company reported a basic net income per common share of $0.15 for the three months ended December 31, 2022, compared to $0.12 for the same period in 2021[24] - Income tax expense for the three months ended December 31, 2022, was estimated at $304,000, with an effective tax rate of 23.7%[52] - Share-based compensation expense for the six months ended December 31, 2022, was $316,000, compared to $526,000 for the same period in 2021[59] Financial Position - The company has a $2,500,000 revolving line of credit with no outstanding principal balance as of December 31, 2022, and the maximum eligible for borrowing was fully utilized[55] - Total inventory as of December 31, 2022, was $3,473,000, up from $3,178,000 as of June 30, 2022, with parts inventory being the largest component at $3,075,000[48] - The warranty reserve increased to $1,337,000 at the end of December 2022 from $1,256,000 at the end of June 2022, with accruals for products sold amounting to $222,000 during the period[50] Contract and Revenue Recognition - The company’s revenue recognition for home care sales occurs at the point of shipment, with control transferring to the patient upon delivery[34] - The company utilizes historical collection patterns to estimate variable consideration for contracts, minimizing the risk of significant revenue reversal[37] - The company’s institutional sales are negotiated directly with institutions, with no insurance reimbursement involved, and each product sold is considered a separate performance obligation[42] - The company's accounts receivable balance includes amounts due from individuals, institutions, and distributors, with an allowance for doubtful accounts determined by evaluating individual customer receivables[45] - Contract assets at the end of December 2022 were $507,000, an increase from $286,000 at the beginning of the period, with $1,008,000 recognized during the six months[47] Stock and Legal Matters - The company repurchased 239,995 shares of common stock for a total cost of $2,725,000, averaging $11.36 per share, as of December 31, 2022[58] - The company issued 32,400 restricted stock awards to employees during the six months ended December 31, 2022, with a weighted average fair value of $9.92 per share[63] - The company is involved in a class action lawsuit related to a data breach, with a settlement agreement preliminarily approved in January 2023, pending final court approval[65] Future Outlook - The company anticipates that the adoption of ASU 2016-13 will not have a significant impact on its consolidated results of operations and financial condition[25]
Electromed(ELMD) - 2023 Q1 - Earnings Call Transcript
2022-11-11 16:19
Electromed, Inc. (NYSE:ELMD) Q1 2023 Earnings Conference Call November 8, 2022 5:00 PM ET Company Participants Mike Cavanaugh - IR Kathleen Skarvan - CEO & President Michelle Wirtz - Interim CFO Conference Call Participants Operator Hello, and welcome to the Electromed Fiscal First Quarter 2023 Earnings Conference Call. All participants will be in listen-only mode. [Operator Instructions] After today’s presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note this even ...
Electromed(ELMD) - 2023 Q1 - Quarterly Report
2022-11-08 21:10
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File No.: 001-34839 Electromed, Inc. (Exact Name of Registrant as Specified in its Charter) Minnesota 41-1732920 (State or other jurisdiction ...
Electromed(ELMD) - 2022 Q4 - Earnings Call Transcript
2022-08-24 00:35
Electromed, Inc. (NYSE:ELMD) Q4 2022 Earnings Conference Call August 23, 2022 5:00 PM ET Company Participants Mike Cavanaugh - IR Kathleen Skarvan - CEO and President Michelle Wirtz - Interim CFO Conference Call Participants Kyle Bauser - Lake Street Capital Markets Operator Greetings. And welcome to the Electromed Fiscal Fourth Quarter Earnings Call. At this time all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] Please no ...
Electromed(ELMD) - 2022 Q4 - Annual Report
2022-08-23 20:15
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, par value $0.01 per share ELMD NYSE American FORM 10-K (Mark One) ☑ Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Fiscal Year Ended June 30, 2022 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Transition Period From ________ to ________. Commis ...
Electromed(ELMD) - 2022 Q3 - Earnings Call Transcript
2022-05-15 09:02
Electromed, Inc. (NYSE:ELMD) Q3 2022 Earnings Conference Call May 10, 2022 5:00 PM ET Company Participants Mike Cavanaugh - Investor Relations Kathleen Skarvan - President and Chief Executive Officer Mike MacCourt - Chief Financial Officer Operator Greetings. Welcome to the Electromed Fiscal Third Quarter Earnings Call. [Operator Instructions] Please note this conference is being recorded. I will now turn the conference over to your host, Mike Cavanaugh. You may begin. Mike Cavanaugh Good afternoon and than ...