Financial Data and Key Metrics Changes - In Q1 fiscal 2021, overall net revenue was $8 million, a decrease of 3.6% compared to the same period last year [7][21] - Net income was approximately $535,000, or $0.06 per diluted share, down from $1 million, or $0.12 per diluted share in the prior year [13][29] - Gross profit dollars decreased by 3.1% to $6.1 million, representing 76.8% of net revenue [24] Business Line Data and Key Metrics Changes - Home care revenue was approximately $7.5 million, remaining flat year-over-year, but increased by 17.9% compared to the previous quarter [21] - Institutional revenue decreased by 55.5% year-over-year to $278,000 due to reduced hospital purchases related to COVID-19 [22] - Distributor revenue increased by 48.3% to $178,000 from $120,000 in the first quarter of fiscal 2020 [23] Market Data and Key Metrics Changes - International revenue totaled $84,000, up from $66,000 in the prior year period, although it is not a strategic growth area for the company [23] - The home care business benefited from the CMS waiver, which has been extended, aiding revenue growth [9] Company Strategy and Development Direction - The company aims to strengthen its institutional strategy by fortifying hospital call points and partnerships with integrated delivery networks [11] - There is a focus on expanding the sales organization and investing in direct-to-consumer marketing to increase awareness of bronchiectasis and SmartVest [14][54] - The long-term growth thesis remains intact, targeting a significant market opportunity in non-cystic fibrosis bronchiectasis [18] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about resuming long-term low double-digit revenue growth as the impact of COVID-19 abates [19] - The company remains committed to maintaining profitability and has not experienced significant disruptions in manufacturing or supply chain [15][30] Other Important Information - The company appointed Kristine Owata as Vice President of Reimbursement and Payer Relations, bringing 15 years of experience [16][17] - R&D expenses increased significantly to $481,000, primarily for next-generation product development [27] Q&A Session Summary Question: Will the CMS waiver be extended beyond January? - Management indicated there is a good chance the waiver may be extended based on COVID-19 case trends [32][33] Question: What are the plans for capital allocation? - Management stated that all options, including acquisitions and dividends, are on the table, but priority will be given to strategies for accelerating growth [34][36] Question: What is the status of the multicenter study? - The study is underway with enrollment ongoing, and it aims to include quality of life surveys, which are recognized by the FDA as important outcomes [38][40] Question: How will R&D spending be managed going forward? - R&D spending is expected to remain at similar levels for the duration of fiscal 2021 [45] Question: What is the outlook for SG&A expenses? - Management plans to expand the sales organization and invest in infrastructure to support future growth [54]

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, 2020 ☐ 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) | --- | --- | --- | |----------- ...

Electromed, Inc. (NYSE:ELMD) Q4 2020 Results Earnings Conference Call August 25, 2020 5:00 PM ET Company Participants Kalle Ahl - IR, The Equity Group Inc. Kathleen Skarvan - President and Chief Executive Officer Mike MacCourt - Chief Financial Officer Conference Call Participants Kyle Bauser - Colliers Securities Operator Greetings and welcome to Electromed Inc.'s Fourth Quarter and Full Year Fiscal 2020 Financial Results Conference Call. At this time all participants are in a listen-only mode. A question- ...

Revenue Performance - Revenue for the fiscal year ended June 30, 2020, is summarized in thousands of dollars, indicating a comparison with the previous fiscal year[142]. - Total revenue for fiscal 2020 was approximately $32,471,000, an increase of 3.7% compared to $31,300,000 in fiscal 2019[143]. - Home care revenue increased by 1.3%, or approximately $374,000, for fiscal 2020, driven by a higher percentage of approved referrals[143]. - Institutional revenue rose by 24.7%, or approximately $396,000, in fiscal 2020, primarily due to higher selling prices and an increase in the number of devices sold[144]. Profitability and Expenses - Gross profit for fiscal 2020 was approximately $25,200,000, representing 77.6% of net revenues, up from 76.2% in fiscal 2019[148]. - Selling, general and administrative expenses decreased by approximately $490,000, or 2.4%, to approximately $19,945,000 in fiscal 2020[150]. - Research and development expenses were approximately $1,050,000, or 3.2% of net revenues, for fiscal 2020, with expectations for a slight increase in spending for fiscal 2021[156]. - Net income for fiscal 2020 was approximately $4,161,000, compared to $1,980,000 in fiscal 2019, driven by increased gross profit and government stimulus income[163]. Government Assistance and Impact of COVID-19 - The company received a stimulus payment of approximately $913,000 under the CARES Act to offset revenue losses due to the COVID-19 pandemic[129]. - The COVID-19 pandemic has negatively impacted institutional revenue as hospitals adjusted their operating protocols, affecting procurement management[123]. - The company initiated cost-containment measures in response to the COVID-19 pandemic, including reducing discretionary spending and employee furloughs[126]. - The company recorded $913,000 of government stimulus income related to the COVID-19 pandemic in fiscal 2020[158]. Product Information and Market Strategy - The SmartVest SQL product has been sold in the domestic home care market since 2014, with enhancements in programmability and ease of use compared to the previous model[116]. - The company employs a direct-to-patient and provider model, allowing it to capture both manufacturer and distributor margins[118]. - The SmartVest System is often eligible for reimbursement from major private insurance providers, which is crucial for patient access to therapy[117]. - The company aims to expand its clinical evidence base to increase utilization of the SmartVest for patients with bronchiectasis[119]. - Key growth strategies for fiscal 2021 include increasing referrals in adult pulmonology/bronchiectasis and enhancing patient and provider support[119]. Financial Metrics and Adjustments - Cash flows from operating activities for fiscal 2020 were approximately $4,196,000, consisting of net income and non-cash expenses[164]. - The effective tax rate for fiscal 2020 was 20.6%, down from 32.3% in fiscal 2019, influenced by various tax credits and deductions[162]. - Net revenues for the twelve months ended June 30, 2019, were reported at $31,299,750, with no adjustments made[176]. - Gross profit for the same period was $23,847,944, indicating a strong revenue generation capability[176]. - Operating income adjusted to $2,829,623 after accounting for the adoption of ASC 842, reflecting an increase of $11,112[176]. - The net income for the twelve months ended June 30, 2019, was reported at $1,980,330, after adjustments[176]. - Basic earnings per share remained at $0.24, with diluted earnings per share also unchanged at $0.23[176]. - Total operating expenses were adjusted to $21,018,321, with selling, general, and administrative expenses slightly reduced to $20,435,010[176].

Financial Data and Key Metrics Changes - The company reported a net revenue increase of 18% to $8.7 million in Q3 2020 from $7.4 million in Q3 2019, driven by growth in home care revenue [18] - Net income for the third quarter was approximately $653,000, or $0.07 per diluted share, compared to $353,000, or $0.04 per diluted share in the prior year [24] - Operating income increased to $913,000 in Q3 2020 from $465,000 in the same period of the prior year [23] Business Line Data and Key Metrics Changes - Home care revenue increased by 14.3% to $7.8 million, primarily due to a higher average selling price per device and a greater percentage of referrals getting approved [18] - Institutional revenue surged by 46.9% to $609,000 from $414,000 in the prior year, driven by higher average selling prices and increased volume [18] - The company began selling into home medical equipment distributors, generating $165,000 in revenue during Q3 2020 [18] Market Data and Key Metrics Changes - International revenue, which is not a strategic growth area, totaled approximately $137,000 compared to $142,000 in the prior year [19] - The company noted that many clinics temporarily closed or restricted their operating hours due to COVID-19, impacting the home care referral pipeline [9] Company Strategy and Development Direction - The company aims for long-term double-digit revenue growth once the impact of COVID-19 subsides, emphasizing its essential business status and strong balance sheet [12] - The management highlighted the significant market opportunity in non-cystic fibrosis bronchiectasis, estimated at over 4 million individuals in the U.S. [16] - The company is focusing on building awareness of recent CMS waivers that modify rules for prescribing respiratory-related devices, which could enhance patient access [8] Management's Comments on Operating Environment and Future Outlook - Management expressed uncertainty regarding the long-term impact of COVID-19 on business and financial performance but remains confident in the company's ability to weather the storm [11] - The company has implemented cost-saving measures, expecting approximately $450,000 in savings per quarter due to reduced discretionary spending [11] - Management is optimistic about returning to a strong cadence of profitable growth as the nation emerges from the COVID-19 crisis [16] Other Important Information - The company reported cash of $9.9 million, no debt, and working capital of $24.2 million as of March 31, 2020 [25] - A stimulus payment of $913,000 related to the CARES Act was received post-quarter end, which may help offset revenue losses due to COVID-19 [26] Q&A Session Summary Question: How is the relaxed CMS guidelines impacting the business? - Management indicated that the waiver primarily assists patients in the home care environment, particularly for those discharged from hospitals [29] Question: Have there been any changes in the conditions for which SmartVest is being prescribed? - Management noted an increase in prescriptions for COPD and COVID-19 patients, which were not typically qualified before [30] Question: What percentage of active accounts have reopened? - Management reported a gradual increase in the number of clinics reopening and conducting face-to-face visits, with a high single-digit percentage shift observed [32]

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, 2020 ☐ 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 ...

Financial Data and Key Metrics Changes - The company reported a net income of approximately $1.2 million for Q2 2020, nearly tripling from $381,000 in the same period last year, driven by a 6.7% revenue growth and significant operating margin improvement to 18.3% [6][14]. - Net revenue increased to $8.5 million from $8 million in Q2 2019, with gross profit rising 10.1% to $6.7 million, representing 78.1% of net revenue [20][21]. Business Line Data and Key Metrics Changes - Home care revenue grew by 4.6% year-over-year to $7.7 million, supported by higher average selling prices and improved sales force productivity [20][7]. - Institutional revenue surged by 22.8% to $494,000, reflecting a strategic focus on hospital call points and enhanced relationships with integrated delivery networks [12][20]. Market Data and Key Metrics Changes - International revenue totaled approximately $253,000, down from $280,000 in the prior year, indicating that this is not a strategic growth area for the company [21]. - The company noted a strong performance in the Medicare segment, benefiting from a larger number of patients aged 65 and above [34]. Company Strategy and Development Direction - The company aims to enhance referrals in adult pulmonology, particularly for bronchiectasis, and plans to launch a new study to validate the effectiveness of SmartVest therapy [10][18]. - The strategic focus includes expanding clinical evidence to increase SmartVest utilization and developing innovative device features to support home care growth [10][11]. Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving long-term low double-digit revenue growth, supported by the expanding bronchiectasis market, which is estimated to have over four million individuals in the U.S. [15][18]. - The company anticipates that revenue growth will outpace expense growth for the remainder of the fiscal year, leading to continued operating improvements [14][15]. Other Important Information - The company is debt-free with a strong balance sheet, including cash and cash equivalents of $9.2 million and working capital of $23.3 million [26]. - Management is entering its annual strategic planning cycle to evaluate long-term corporate strategy and cash allocation for maximizing shareholder value [27]. Q&A Session Summary Question: Size and timeline of the new prospective study - The study is expected to enroll over 100 patients, with results potentially available in two to three years [30]. Question: Other studies in the works - Management is considering an economic study on healthcare utilization related to SmartVest therapy [31][32]. Question: Timeline for reaching full sales force - The company plans to reach a peak of 38 direct sales reps in the second half of the fiscal year [33]. Question: Dynamics of the Medicare segment - The growth in the Medicare segment is attributed to an increasing number of patients aged 65 and above, benefiting from Medicare coverage [34]. Question: Future cash allocation strategy - Management is focused on linking cash allocation to growth strategies and will evaluate opportunities during the strategic planning process [35]. Question: Long-term operating margin goals - The long-term goal for operating margin is to be in the mid- to upper teens as the company continues its growth trajectory [36]. Question: Use of clinical study results by competitors - Any clinical study results can be utilized by competitors, but the study will specifically use the company's device [38]. Question: Timing of conference calls - Management acknowledged the feedback regarding the timing of conference calls and will consider it for future scheduling [39]. Question: Long-term revenue guidance and market share - Management discussed the potential for significant growth in market share as awareness of bronchiectasis increases among healthcare providers [44][45].

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 December 31, 2019 ☐ 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) Indicate by check mark whether th ...

Electromed, Inc. (NYSEMKT:ELMD) Q1 2020 Earnings Conference Call November 13, 2019 9:00 AM ET Company Participants Kalle Ahl - Senior Associate, The Equity Group, Inc., IR Kathleen Skarvan - President and Chief Executive Officer Jeremy Brock - Chief Financial Officer Conference Call Participants Kyle Bauser - Dougherty & Company LLC Tim Chatard - Meros Investments Operator Greetings, and welcome to the Electromed, Inc.’s First Quarter Fiscal 2020 Financial Results Conference Call. At this time, all particip ...

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, 2019 ☐ 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 o ...