Electromed, Inc. - ELMD STOCK NEWS

Electromed, Inc. (NYSE American: ELMD) announced that it received FDA 510(k) clearance for its SmartVest® Clearway® Airway Clearance System, targeting High Frequency Chest Wall Oscillation (HFCWO) therapy. This modernized device enhances patient experience and outcomes with features like an intuitive touchscreen and lightweight design. The system is crucial for patients with chronic lung conditions, helping to clear mucus and reduce respiratory infections. Limited market release in the U.S. is expected soon.

Electromed, a leader in airway clearance technologies, reported Q1 FY 2023 net revenue of $10.7 million, up 7% year-over-year. Homecare revenue was $9.6 million, a 4% increase. Operating income fell to $44,000 from $538,000 due to supply chain challenges and non-recurring expenses. Net income dropped to $81,000 or $0.01 per diluted share, compared to $439,000 or $0.05 in Q1 FY 2022. The company repurchased $145,000 in stock and had $6.0 million in cash as of September 30, 2022.

Electromed, Inc. (NYSE American: ELMD) announced its participation in two key investor conferences in November 2022. The first is the Sidoti & Company November Micro-Cap Virtual Conference on November 9-10, 2022, where Kathleen Skarvan and Michelle Wirtz will present. The second is the Three Part Advisors 14th Annual Southwest IDEAS Conference on November 16-17, 2022, featuring Skarvan, Wirtz, and new CFO Brad Nagel. Live webcasts and replays will be available online.

Electromed, Inc. (AMEX: ELMD) will release its financial results for the first quarter of fiscal 2023 on November 8, 2022, after market close. The company will also host a conference call at 5:00 p.m. ET the same day to discuss these results. Interested parties can join the call by dialing (844) 826-3033 for domestic access or (412) 317-5185 for international participants, using pin number 10172207. A live webcast will be available in the Investor Relations section of Electromed’s website, with a replay accessible after the event.

Electromed, Inc. has appointed Brad Nagel as its new Chief Financial Officer, effective November 14, 2022. Nagel brings over 15 years of financial leadership experience, particularly from his role at Medtronic, where he contributed to significant revenue growth. Electromed's President, Kathleen Skarvan, expressed confidence in Nagel's ability to drive growth and create value in the company. The outgoing Interim CFO, Michelle Wirtz, will continue as Corporate Controller, ensuring leadership continuity during this transition.

Electromed, Inc. (NYSE American: ELMD), a pioneer in airway clearance technologies, will participate in the Issuer Direct 2022 Windy City Roundup on October 12-13, 2022. CEO Kathleen Skarvan and Interim CFO Michelle Wirtz will present on October 12 from 11:30 to 11:55 a.m. CT. Management is also available for one-on-one investor meetings. The event showcases Electromed's innovative solutions, including the SmartVest® Airway Clearance System, designed for patients with compromised pulmonary function. For more details and to join the presentation, visit this link.

Electromed (NYSE American: ELMD) reported record annual revenues of $41.7 million for FY 2022, a 16.5% increase over the previous year, driven by strong home care revenue growth of 15.2%. In Q4 FY 2022, net revenue grew by 19% to $11.3 million, with $0.4 million net income consistent with Q4 FY 2021. The company expanded its sales force and increased strategic investments in marketing and clinical studies. However, net income decreased slightly from FY 2021. Cash reserves stood at $8.2 million, while the company continues to prioritize revenue growth and market expansion for fiscal 2023.

Electromed, Inc. (NYSE American: ELMD) will release its financial results for the fiscal 2022 fourth quarter and year, ending June 30, 2022, on August 23, 2022, after the market closes. A conference call will follow at 5:00 p.m. ET to discuss the results, where interested parties can join via phone or webcast. Electromed specializes in airway clearance technologies and is headquartered in New Prague, Minnesota. More details are available on their website.

Electromed, Inc. (NYSE American: ELMD) has appointed Andrew Summers as an independent director, effective July 25, 2022. This comes alongside a new cooperation agreement with Summers Value Partners, which holds approximately 6.1% of Electromed's stock. Summers will also serve as Vice Chair of the Finance and Strategy Committee. The board aims to leverage Summers' extensive healthcare investment experience to enhance corporate strategy and shareholder value.