Tactile Systems Technology(TCMD) - 2025 Q1 - Quarterly Results

Revenue Performance - Total revenue for Q1 2025 increased by $180 thousand, or 0.3%, to $61.3 million compared to Q1 2024[4] - Total revenue for Q1 2025 was $61,268,000, a slight increase of 0.3% compared to $61,088,000 in Q1 2024[24] - Sales revenue decreased to $52,469,000 in Q1 2025 from $53,307,000 in Q1 2024, representing a decline of 1.6%[24] - Rental revenue increased to $8,799,000 in Q1 2025, up 13.1% from $7,781,000 in Q1 2024[24] - Lymphedema products accounted for 83% of total revenue in Q1 2025, down from 86% in Q1 2024[27] - The company expects full year 2025 total revenue in the range of $309 million to $315 million, representing growth of approximately 5% to 8% year-over-year[11] Profitability - Gross profit for Q1 2025 increased by $1.9 million, or 4%, to $45.3 million, with a gross margin of 74% compared to 71% in Q1 2024[5] - Gross profit for Q1 2025 was $45,346,000, an increase of 4.4% compared to $43,429,000 in Q1 2024[24] - Adjusted EBITDA loss for Q1 2025 was $0.3 million, compared to positive Adjusted EBITDA of $1.0 million in Q1 2024[9] - Adjusted EBITDA for Q1 2025 was $(259,000), a decrease of 125% from $1,033,000 in Q1 2024[28] - The company now expects full year 2025 adjusted EBITDA in the range of $32 million to $34 million, compared to adjusted EBITDA of $37.1 million in 2024[12] Expenses and Losses - Net loss for Q1 2025 was $3.0 million, or $(0.13) per diluted share, compared to a net loss of $2.2 million, or $(0.09) per diluted share, in Q1 2024[8] - Net loss for Q1 2025 was $2,974,000, compared to a net loss of $2,209,000 in Q1 2024, reflecting a 34.7% increase in losses[24] - Operating expenses increased by $3.5 million, or 8%, to $49.9 million, primarily due to planned strategic investments[7] - Operating expenses rose to $49,888,000 in Q1 2025, up 7.4% from $46,393,000 in Q1 2024[24] Cash and Stock Repurchase - As of March 31, 2025, the company had $83.6 million in cash and $25.5 million of outstanding borrowings under its credit agreement[10] - Cash at the end of Q1 2025 was $83,619,000, a decrease from $94,367,000 at the beginning of the period[26] - The company repurchased $10.0 million of stock during Q1 2025 under its share repurchase program[6]