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About Electromed, Inc. (ELMD)
Electromed, Inc., headquartered in Minnesota, is a prominent player in the respiratory care industry, specializing in the development, manufacturing, and global distribution of innovative airway clearance therapy solutions. The company’s flagship product, the SmartVest® Airway Clearance System, utilizes advanced high-frequency chest wall oscillation (HFCWO) technology to provide a clinically proven, non-invasive alternative to traditional chest physiotherapy (CPT). This technology is designed to help patients with compromised pulmonary function clear excess mucus from their lungs, reducing the risk of infections and improving overall respiratory health.
Core Business and Products
At the heart of Electromed’s operations is the SmartVest System, which consists of a programmable air pulse generator, a wearable therapy garment, and a connecting hose. Together, these components deliver safe, comfortable, and effective airway clearance therapy. The system is particularly beneficial for individuals suffering from chronic respiratory conditions such as chronic obstructive pulmonary disease (COPD), bronchiectasis, cystic fibrosis, atelectasis, and various neuromuscular diseases. By addressing the challenges of retained secretions, the SmartVest System enhances patients’ quality of life and reduces the frequency of hospitalizations related to respiratory complications.
Industry Position and Differentiation
Electromed operates in the highly specialized respiratory care market, where regulatory compliance, clinical efficacy, and patient comfort are paramount. The company distinguishes itself through its commitment to innovation, quality, and compassionate service. Its products are accredited by the Joint Commission and certified under ISO 13485:2003 and ISO 9001:2008 standards, underscoring its adherence to rigorous quality management systems. Additionally, the patented HFCWO technology provides a competitive edge by offering a more tolerable and effective solution compared to traditional CPT methods.
Business Model and Revenue Streams
Electromed generates revenue primarily through the direct sale of its SmartVest System and related accessories. The company also benefits from recurring revenue streams, which may include replacement parts, service agreements, and ongoing support for its devices. Its focus on patient-centric care and long-term relationships with healthcare providers further strengthens its market position.
Regulatory and Clinical Excellence
Operating within the medical device industry, Electromed is subject to stringent regulatory requirements. Its accreditation and ISO certifications reflect its dedication to maintaining high standards of safety and efficacy. The company’s products are backed by clinical research demonstrating their effectiveness in clearing mucus, reducing lung infections, and improving respiratory function. This evidence-based approach enhances its credibility among healthcare professionals and patients alike.
Market Significance
The respiratory care market continues to grow due to an aging population and the increasing prevalence of chronic respiratory conditions. Electromed’s innovative solutions address a critical need within this market, positioning the company as a key contributor to improving pulmonary health outcomes. By focusing on both technological advancement and patient well-being, Electromed has carved out a niche in the competitive landscape of airway clearance therapy.
Commitment to Patients and Healthcare Providers
Electromed’s mission extends beyond product development to include a strong emphasis on compassionate service and patient education. The company works closely with healthcare providers to ensure that its solutions are effectively integrated into treatment plans, empowering patients to manage their conditions more effectively. This holistic approach reinforces Electromed’s reputation as a trusted partner in respiratory care.
Electromed, Inc. (AMEX: ELMD) will release its fiscal 2023 third quarter financial results on May 9, 2023, after market close. A conference call to discuss the results is set for the same day at 5:00 p.m. Eastern Time. Interested participants can join by calling (888) 999-5318 for domestic or (848) 280-6460 for international lines. The live webcast will be available on Electromed's Investor Relations website. For those unable to join live, a replay will be accessible via phone and online, using the provided links. Electromed specializes in airway clearance technologies, notably the SmartVest® Airway Clearance System, serving patients with compromised pulmonary function.
Electromed (NYSE American: ELMD) reported record net revenue of $11.7 million for Q2 FY 2023, reflecting a 15% increase from $10.2 million in Q2 FY 2022. Homecare revenue grew 14% year-over-year to $10.7 million. Operating income rose to $1.3 million from $1.1 million in Q2 FY 2022, while net income increased to $977,000, or $0.11 per diluted share. Gross profit was $8.68 million, comprising 74% of net revenues, despite rising material and shipping costs. The company reported cash of $6.9 million and ongoing expansion efforts in its sales force and product offerings, including the new SmartVest® Clearway® system.
Electromed, Inc. (AMEX: ELMD) announced that Kathleen Skarvan will retire as President and CEO effective around July 1, 2023. She will transition to a chair role on the board. Skarvan has led the company since 2012, overseeing a tripling of revenues and consistent profitability since 2015. Under her leadership, Electromed executed a strategic growth initiative, enhancing their commercial team and market share. The Board is actively seeking a successor with the help of an executive search firm. Skarvan expressed confidence in the company's future and commitment to ensuring a smooth leadership transition.
Electromed, Inc. (AMEX: ELMD) has announced it will release its financial results for the fiscal 2023 second quarter, which ended December 31, 2022, on February 14, 2023, after the market closes. The company will host a conference call on the same day at 5:00 p.m. Eastern Time to discuss these results. Interested participants can join the call by dialing the provided numbers or accessing the live webcast through Electromed's Investor Relations website. A replay of the call will also be available for those unable to attend live.
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.
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