MINNEAPOLIS, April 21, 2025 (GLOBE NEWSWIRE) -- Tactile Systems Technology, Inc. (“Tactile Medical”; the “Company”) (Nasdaq: TCMD), a medical technology company providing therapies for people with chronic disorders, today announced that first quarter of fiscal year 2025 financial results will be released after the market closes on Monday, May 5, 2025. Management will host a conference call with a question and answer session at 5:00 p.m. Eastern Time on May 5, 2025, to discuss the results of the quarter. Tho ...

MINNEAPOLIS, March 05, 2025 (GLOBE NEWSWIRE) -- Tactile Systems Technology, Inc. (“Tactile Medical”; the “Company”) (Nasdaq: TCMD), a medical technology company providing therapies for people with chronic disorders, today announced that management will participate in the Oppenheimer 35th Annual Healthcare MedTech & Services Conference, which is being virtually held from March 17th – 20th. Management will participate in a virtual presentation on Tuesday, March 18th at 12:00 p.m. Eastern Time. A live audio we ...

MINNEAPOLIS, March 05, 2025 (GLOBE NEWSWIRE) -- Tactile Systems Technology, Inc. ("Tactile Medical"; the "Company") (NASDAQ:TCMD), a medical technology company providing therapies for people with chronic disorders, today announced that management will participate in the Oppenheimer 35th Annual Healthcare MedTech & Services Conference, which is being virtually held from March 17th – 20th. Management will participate in a virtual presentation on Tuesday, March 18th at 12:00 p.m. Eastern Time. A live audio web ...

Tactile Systems Technology, Inc. (NASDAQ:TCMD) Q4 2024 Earnings Conference Call February 18, 2025 5:00 PM ET Company Participants Sam Bentzinger - Investor Relations, Gilmartin Group LLC Sheri Dodd - Chief Executive Officer Elaine Birkemeyer - Chief Financial Officer Conference Call Participants Max Smock - William Blair Adam Maeder - Piper Sandler Iseult McMahon - BTIG Kyle Bauser - B. Riley Securities Suraj Kalia - Oppenheimer & Company Operator Please standby. Welcome, ladies and gentlemen, to the Fourth ...

Core Viewpoint - Tactile Systems Technology (TCMD) reported quarterly earnings of $0.40 per share, exceeding the Zacks Consensus Estimate of $0.33 per share, and showing an earnings surprise of 21.21% [1][2] Financial Performance - The company achieved revenues of $85.59 million for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 0.18% and increasing from $77.65 million year-over-year [2] - Over the last four quarters, TCMD has consistently surpassed consensus EPS estimates and topped revenue estimates three times [2] Stock Performance and Outlook - TCMD shares have increased approximately 1.2% since the beginning of the year, underperforming compared to the S&P 500's gain of 4% [3] - The company's current consensus EPS estimate for the upcoming quarter is -$0.04 on revenues of $67.02 million, and for the current fiscal year, it is $0.86 on revenues of $322.36 million [7] Industry Context - The Medical - Instruments industry, to which TCMD belongs, is currently ranked in the top 34% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [8]

Investor Presentation TACTILE MEDICAL | 3 Revealing & Treating Patients with Underserved Chronic Conditions in the Home Including Lymphedema & Bronchiectasis: February 18, 2025 NASDAQ: TCMD Forward-Looking Statements Disclosure This presentation contains forward-looking statements. Forward-looking statements are generally identifiable by the use of words like "may," "will," "should," "could," "expect," "anticipate," "estimate," "believe," "intend," "continue," "confident," "outlook," "guidance," "project," ...

Employee and Talent Management - As of December 31, 2024, the company had 1,037 employees, with 613 based in the United States and 424 in the Minneapolis metropolitan area[167]. - The company has focused on recruitment and retention strategies to ensure high-quality talent, including new learning and development options introduced in 2023[172]. - The company is committed to employee engagement and has implemented strategies such as exit interview analyses and periodic employee engagement surveys[173]. - The company recorded discretionary contributions to its 401(k) retirement plan of $2.2 million in 2024, up from $1.5 million in both 2023 and 2022[592]. - The Employee Stock Purchase Plan (ESPP) allows employees to purchase shares at a 15% discount, with purchase periods every six months[617]. - As of December 31, 2024, the company had 1,444,905 shares available for future issuance under the Employee Stock Purchase Plan (ESPP)[618]. Financial Performance - Total revenue for 2024 reached $292,984,000, an increase of 6.3% from $274,423,000 in 2023[504]. - Sales revenue increased to $256,012,000 in 2024, up from $239,493,000 in 2023, reflecting a growth of 6.9%[504]. - Gross profit for 2024 was $216,688,000, compared to $195,133,000 in 2023, marking an increase of 11.1%[504]. - Net income for 2024 was $16,960,000, a decrease of 40.5% from $28,515,000 in 2023[504]. - Operating expenses rose to $194,507,000 in 2024, up from $177,092,000 in 2023, representing a 9.8% increase[504]. - Cash and cash equivalents increased to $94,367,000 in 2024, compared to $61,033,000 in 2023, a growth of 54.5%[499]. - Total assets as of December 31, 2024, were $297,924,000, up from $281,438,000 in 2023, indicating a growth of 5.9%[499]. - Total liabilities decreased to $81,327,000 in 2024 from $87,796,000 in 2023, a reduction of 7.4%[499]. - The company reported a basic net income per share of $0.71 for 2024, down from $1.24 in 2023[504]. - Net cash provided by operating activities increased to $40,655,000 in 2024 from $35,855,000 in 2023, representing a growth of 5.5%[510]. Revenue Recognition and Accounts Receivable - Revenue from products sold to Medicare patients is recognized upon shipment, with claims for the Flexitouch Plus system often entering a lengthy appeals process[534]. - The company recognizes revenue from sales to the Veterans Administration upon delivery, with payments typically made within 2-3 days of shipment[535]. - A portion of revenue comes from patients under multiple-month rental arrangements, with transaction prices recognized upon transfer of control[538]. - The AffloVest device revenue is recognized at shipment, with no post-shipment obligations other than warranty[539]. - As of December 31, 2024, accounts receivable from two insurers represented approximately 23% and 12% of total accounts receivable, with revenue from these insurers accounting for 18% and 2% of total revenue for the year[563]. - Approximately 90% of Medicare claims submitted are approved after the appeals process, indicating a strong recovery rate for accounts receivable[524]. - The company experienced a significant change in accounts receivable, with a decrease of $1,764,000 in 2024 compared to an increase of $11,653,000 in 2023[510]. Research and Development - Research and development expenses increased to $8,832,000 in 2024, compared to $7,823,000 in 2023, reflecting a growth of 12.9%[504]. - Research and development costs are expensed as incurred, including clinical research studies[545]. Legal and Compliance - The company faced two qui tam complaints alleging false claims related to Medicare programs, with ongoing legal proceedings expected[597]. - The company has implemented a Human Rights Policy and Supplier Code of Conduct to ensure fair labor practices throughout its operations and with its partners[170]. Taxation - The company recognized an income tax expense of $6,529 thousand for the year ended December 31, 2024, compared to an income tax benefit of $12,745 thousand in 2023[628]. - The effective tax rate for 2024 was 27.8%, a significant change from a benefit of 80.8% in 2023, primarily due to the absence of a release of a valuation allowance on deferred tax assets[628]. - The total provision for income taxes included current income taxes of $5,669 thousand for 2024, compared to $6,485 thousand in 2023[623]. Assets and Liabilities - Property and equipment net value decreased from $6,195,000 in 2023 to $5,603,000 in 2024, reflecting a depreciation expense of $3.0 million[565]. - Total intangible assets increased slightly from $56,259,000 in 2023 to $56,121,000 in 2024, with net definite-lived intangible assets at $33,066,000[567]. - Warranty reserves decreased from $4,038,000 in 2023 to $2,993,000 in 2024, with warranty provision for 2024 at $2,677,000[570]. - As of December 31, 2024, outstanding borrowings under the Credit Agreement totaled $26,300,000, entirely from the term loan[580]. - The company made a payment of $16,800,000 to fully repay the outstanding balance on the revolving credit facility on December 21, 2023[579]. - The company has a maximum consolidated total leverage ratio and a minimum fixed charge coverage ratio covenant under the Credit Agreement, and was in compliance as of December 31, 2024[580]. Stock-Based Compensation - Total stock-based compensation expense for the year ended December 31, 2024, was $7.8 million, a slight increase from $7.5 million in 2023 and a decrease from $9.6 million in 2022[603]. - Stock-based compensation expense for stock options was $0.2 million in 2024, down from $0.9 million in 2023 and $2.5 million in 2022[604]. - Time-based restricted stock units (RSUs) expense was $5.9 million in 2024, compared to $5.1 million in 2023 and $5.8 million in 2022[612]. - The balance of outstanding time-based RSUs increased to 728,426 units by December 31, 2024, from 589,142 units in 2023[613]. - Performance-based restricted stock units (PSUs) expense was $1.2 million in 2024, up from $0.9 million in 2023 and $0.5 million in 2022[615]. - The balance of outstanding PSUs increased to 272,919 units by December 31, 2024, from 198,232 units in 2023[616]. - The total grant date fair value of options vested during the year was $0.6 million in 2024, compared to $1.9 million in 2023 and $3.3 million in 2022[604]. - The aggregate intrinsic value of options outstanding as of December 31, 2024, was $309 thousand, reflecting a decrease from $223 thousand in 2023[608]. Inventory and Capital Expenditures - Total inventories decreased from $22.5 million as of December 31, 2023, to $18.7 million as of December 31, 2024[564]. - The company reported capital expenditures of $2,392,000 in 2024, slightly higher than $2,324,000 in 2023[510]. Interest Rate and Financial Risk - The company is exposed to interest rate risk, with an immediate 100 basis point change in interest rates expected to have no material effect on the fair market value of its short-term investments[481]. - The company’s interest income is sensitive to changes in interest rates, particularly as its investments are generally short-term in nature[481]. - The company has not experienced any losses on its cash to date, which is maintained with one financial institution in the United States[483]. - Inflationary factors may adversely affect the company's operating results, particularly if product prices do not increase in line with rising costs[482].

Financial Performance - Total revenue for Q4 2024 increased by $7.9 million, or 10%, to $85.6 million compared to Q4 2023[4] - Full year 2024 total revenue increased by $18.6 million, or 7%, to $293.0 million compared to $274.4 million in 2023[9] - Total revenue for the year ended December 31, 2024, was $292,984,000, an increase of 6.3% from $274,423,000 in 2023[25] - Sales revenue for the fourth quarter of 2024 was $75,270,000, up 11.8% from $67,407,000 in the same quarter of 2023[25] Profitability - Net income for Q4 2024 was $9.7 million, or $0.40 per diluted share, compared to $8.2 million, or $0.35 per diluted share, in Q4 2023[7] - Full year 2024 net income was $17.0 million, or $0.70 per diluted share, down from $28.5 million, or $1.23 per diluted share, in 2023[10] - Net income for the year ended December 31, 2024, was $16,960,000, down from $28,515,000 in 2023, indicating a decrease of 40.5%[27] - Net income for Q4 2024 was $9,716, an increase of 18% from $8,202 in Q4 2023, while full-year net income decreased by 41% to $16,960 from $28,515[29] Margins and Expenses - Gross margin improved to 75% in Q4 2024, up from 72% in Q4 2023[4] - Gross profit for the year ended December 31, 2024, was $216,688,000, compared to $195,133,000 in 2023, reflecting a gross margin improvement[25] - Operating expenses for the year ended December 31, 2024, totaled $194,507,000, an increase from $177,092,000 in 2023, reflecting a rise of 9.8%[25] Cash Flow and Liquidity - Operating cash flow for 2024 was $40.7 million, up from $35.9 million in 2023[4] - The company ended 2024 with $94.4 million in cash, an increase from $61.0 million at the end of 2023[11] - Cash and cash equivalents at the end of 2024 increased to $94,367,000 from $61,033,000 at the end of 2023, representing a growth of 54.6%[27] Future Projections - The company expects full year 2025 total revenue to be in the range of $316 million to $322 million, representing growth of approximately 8% to 10% year-over-year[12] - The company projects FY 2025 net income guidance between $15,750 and $17,150, with Adjusted EBITDA expected to range from $35,000 to $37,000[30] Product and Market Development - The company expanded the launch of its Nimbl product to include patients with lower extremity lymphedema[4] - Lymphedema products accounted for 90% of total revenue in Q4 2024, up from 89% in Q4 2023[28] - The company is focusing on expanding its market presence and enhancing product offerings as part of its strategic initiatives moving forward[29] Adjusted Metrics - Adjusted EBITDA for Q4 2024 was $16.2 million, compared to $15.4 million in Q4 2023[8] - Adjusted EBITDA for Q4 2024 was $16,216, reflecting a 5% increase from $15,376 in Q4 2023, and for the full year, it rose by 25% to $37,050 from $29,654[29] Other Financial Metrics - Interest expense for Q4 2024 showed a significant negative change, with a net expense of $(476) compared to an income of $38 in Q4 2023, marking a notable shift[29] - Income tax expense for Q4 2024 was $3,275, down 8% from $3,562 in Q4 2023, while the full-year tax expense showed a substantial increase from a benefit of $(12,745) to an expense of $6,529[29] - Stock-based compensation for Q4 2024 was $1,850, a decrease of 5% from $1,950 in Q4 2023, with a full-year increase of 4% to $7,819 from $7,547[29] - Executive transition costs were reported at $137 for Q4 2024, with a total of $248 for the full year, indicating new strategic initiatives[29] - Depreciation and amortization for Q4 2024 was $1,714, a 6% increase from $1,624 in Q4 2023, and for the full year, it rose by 4% to $6,793 from $6,539[29] Balance Sheet - Total assets increased to $297,924,000 as of December 31, 2024, from $281,438,000 in 2023, marking a growth of 5.9%[23] - Total liabilities decreased to $81,327,000 as of December 31, 2024, down from $87,796,000 in 2023, a reduction of 7.4%[23]

Core Insights - Tactile Systems Technology, Inc. reported strong financial results for Q4 and full year 2024, highlighting a dynamic year with significant product launches and operational improvements [3][4][9]. Financial Performance - Q4 2024 total revenue increased by $7.9 million, or 10%, reaching $85.6 million compared to $77.7 million in Q4 2023, driven by an 11% increase in lymphedema product sales [4][7]. - Gross profit for Q4 2024 rose by $8.4 million, or 15%, to $64.4 million, with a gross margin of 75.2%, up from 72.1% in Q4 2023 [5][7]. - Operating income for Q4 2024 was $12.5 million, compared to $11.8 million in Q4 2023 [6][8]. - Full year 2024 total revenue increased by $18.6 million, or 7%, to $293.0 million, with a gross margin of 74%, up from 71% in 2023 [9][10]. Net Income and Earnings - Q4 2024 net income was $9.7 million, or $0.40 per diluted share, compared to $8.2 million, or $0.35 per diluted share, in Q4 2023 [8][10]. - Full year 2024 net income was $17.0 million, or $0.70 per diluted share, down from $28.5 million, or $1.23 per diluted share, in 2023 [10]. Cash Flow and Balance Sheet - Operating cash flow for 2024 was $40.7 million, compared to $35.9 million in 2023, with cash at year-end 2024 totaling $94.4 million, up from $61.0 million at the end of 2023 [7][11]. - The company ended 2024 with $26.3 million in outstanding borrowings, down from $29.3 million in 2023 [11]. Strategic Outlook - For 2025, the company expects total revenue to be in the range of $316 million to $322 million, representing growth of approximately 8% to 10% year-over-year [12]. - The company plans to continue investing in enhancing the overall patient experience and expanding treatment options [3].

Financial Results Announcement - Tactile Systems Technology, Inc. will release its fourth quarter and fiscal year 2024 financial results after market close on February 18, 2025 [1] - A conference call will be held at 5:00 p.m. Eastern Time on the same day to discuss the results [2] Conference Call Details - Participants can join the call by dialing 877-407-3088 (international callers: 201-389-0927) and using access code 13751026 [2] - A live webcast will be available on the investor relations section of the Company's website [2] Replay Information - A replay of the conference call will be accessible for two weeks at 877-660-6853 (international callers: 201-612-7415) with the same access code [3] - The webcast will be archived on the Company's investor relations website [3] Company Overview - Tactile Medical specializes in developing and marketing at-home therapies for chronic conditions such as lymphedema, lipedema, chronic venous insufficiency, and chronic pulmonary disease [4] - The Company aims to improve the quality of life for patients by collaborating with clinicians to enhance clinical evidence and increase access to care [4]