Tactile Systems Technology, Inc. Reports Fourth Quarter and Full Year 2024 Financial Results

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].