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Tactile Systems Technology, Inc., trading under the symbol TCMD, is a prominent player in the medical technology space, headquartered in Minneapolis, Minnesota. The company specializes in developing innovative medical devices aimed at treating chronic diseases, particularly focusing on conditions like lymphedema and venous ulcers.
As a leader in the field, Tactile Medical's core business revolves around its proprietary platform, including the Flexitouch System—an advanced home-based therapy device designed to help lymphedema patients manage their condition effectively. Additionally, the company offers the Entre System, another home solution for patients suffering from chronic swelling, and the Actitouch System for those with chronic venous insufficiency, which can be worn throughout the day.
Tactile Medical is committed to enhancing the quality of life for patients with chronic swelling by advocating for better patient access and delivering exceptional care through their direct national network. This network includes product specialists, trainers, reimbursement experts, patient advocates, and clinical staff, serving tens of thousands of patients across the United States.
In recent financial updates, the company reported a significant improvement in its fiscal health. For the full year ending 2023, Tactile Medical recorded a net income of $28.5 million, or $1.23 per diluted share, a notable turnaround from a net loss of $17.9 million the previous year. Non-GAAP net income also saw a remarkable rise to $29.5 million from a previous net loss of $3.6 million. Adjusted EBITDA for the year was $29.7 million, compared to $18.3 million in 2022, reflecting substantial growth and profitability.
Looking ahead, Tactile Medical has reaffirmed its optimistic outlook for 2024. The company continues to innovate under the leadership of Sheri Dodd, the newly appointed CEO, who brings extensive experience from her previous roles at Medtronic and other leading healthcare organizations. The company is poised for continued growth, backed by a robust financial position and a dedicated leadership team.
Tactile Medical (TCMD) reported strong Q4 2024 financial results with total revenue increasing 10% year-over-year to $85.6 million. The company achieved a gross margin of 75% and net income of $9.7 million in Q4 2024, compared to 72% and $8.2 million in Q4 2023, respectively.
For the full year 2024, total revenue grew 7% to $293.0 million, with gross margin improving to 74% from 71% in 2023. Operating cash flow reached $40.7 million, up from $35.9 million in 2023. The company ended 2024 with $94.4 million in cash, a significant increase from $61.0 million at the end of 2023.
Looking ahead, TCMD provided 2025 guidance projecting total revenue between $316-322 million (8-10% growth) and adjusted EBITDA of $35-37 million.
Tactile Systems Technology (TCMD) has announced it will release its fourth quarter and fiscal year 2024 financial results after market close on February 18, 2025. The company will host a conference call with Q&A at 5:00 p.m. Eastern Time on the same day.
Participants can join via phone (877-407-3088 for domestic, 201-389-0927 for international) using access code 13751026. A live webcast will be available on the company's investor relations website, with a replay accessible for two weeks afterward.
Tactile Medical specializes in at-home therapies for chronic conditions including lymphedema, lipedema, chronic venous insufficiency, and chronic pulmonary disease, focusing on helping patients manage their care at home.
Tactile Medical (NASDAQ: TCMD) has expanded the availability of its Nimbl™ pneumatic compression device to include treatment for lower extremity lymphedema across the United States. This expansion follows the initial October 2024 launch for upper extremity lymphedema treatment.
The Nimbl device represents significant technological advancement, being 68% lighter and 40% smaller than the company's current generation PCD, with 94% less hosing in its lower extremity garment. It is the only basic PCD featuring Bluetooth® connectivity, allowing patients to track treatments and symptoms through the free Kylee™ digital application.
This expansion targets a market of 16 million Americans with chronic swelling in lower extremities, offering them a more portable and user-friendly treatment option designed to improve patient adherence and care experience.
Tactile Medical (Nasdaq: TCMD) has appointed Laura King to its Board of Directors and as a member of the Audit and Compliance & Reimbursement Committees, effective January 13, 2025. Laura King brings extensive experience from her 22-year career at General Electric Company (GE), where she served as President & CEO of GE Healthcare’s Global Interventional Business. Her leadership included roles as Chief Information Officer & Chief Financial Officer for GE's Consumer & ECM Motors segment.
Currently, Ms. King is the co-founder & CEO of BiaCure, Inc., and has previously co-founded Elucent Medical, positively impacting over 10,000 breast cancer patients. She also served as President & CEO of NeuWave Medical, which was acquired by Johnson & Johnson’s MedTech division. Bill Burke, Chairman of the Board of Tactile Medical, expressed enthusiasm for Ms. King's appointment, citing her experience in leading healthcare companies and developing innovative technologies as valuable assets for the company.
Tactile Medical specializes in developing and marketing at-home therapies for chronic conditions such as lymphedema, lipedema, chronic venous insufficiency, and chronic pulmonary disease, aiming to improve patient care and reduce healthcare costs.
Tactile Medical (Nasdaq: TCMD) has announced its participation in the Piper Sandler 36th Annual Healthcare Conference at the Lotte New York Palace from December 3rd-5th. The company's management will engage in a fireside chat on December 3rd at 10:00 a.m. Central Time.
The event will be accessible via live audio webcast in the 'Events & Webcasts' section of Tactile Medical's investor relations website, with replay available post-conference. Tactile Medical specializes in at-home therapies for chronic conditions including lymphedema, lipedema, chronic venous insufficiency, and chronic pulmonary disease.
Tactile Medical (TCMD) reported Q3 2024 financial results with total revenue increasing 5% year-over-year to $73.1 million. Lymphedema product revenue grew 4% and airway clearance product revenue rose 10%. The company reported net income of $5.2 million, down from $22.3 million in Q3 2023, while Adjusted EBITDA improved to $10.7 million from $7.7 million. The company ended Q3 with $82.1 million in cash and announced a $30 million share repurchase program. The company updated its 2024 revenue guidance to $292-295 million, representing 6-8% growth.
Tactile Systems Technology, Inc. (Nasdaq: TCMD), operating as Tactile Medical, has announced the release date for its third quarter fiscal year 2024 financial results. The results will be disclosed after market close on Monday, November 4, 2024. Following the release, management will host a conference call with a Q&A session at 5:00 p.m. Eastern Time on the same day.
Interested participants can dial 877-407-3088 (201-389-0927 for international callers) and use the access code 13748661. A live webcast will be available on the company's investor relations website. For those unable to attend, a replay will be accessible for two weeks.
Tactile Medical specializes in at-home therapies for chronic conditions such as lymphedema, lipedema, chronic venous insufficiency, and chronic pulmonary disease, aiming to improve patients' quality of life and reduce overall healthcare costs.
Tactile Medical (Nasdaq: TCMD) has launched Nimbl, its next-generation pneumatic compression platform, for treating upper extremity lymphedema across the United States. Nimbl, which received FDA 510(k) clearance in June 2024 and CMS PDAC approval in September 2024, is 68% lighter, 40% smaller, and uses 33% less hosing than the company's current basic pneumatic compression device.
The device is indicated for treating both upper and lower extremity lymphedema, chronic edema, venous insufficiency, and wound healing. Nimbl offers connectivity to the free Kylee digital application for tracking usage and symptoms. The company plans to expand Nimbl's availability for lower extremity conditions in the coming months.
Tactile Medical (Nasdaq: TCMD) announced positive results from a clinical study on their Flexitouch advanced pneumatic compression device (APCD) for lower extremity lymphedema. The 52-week study, published in the Journal of Vascular Surgery, Venous and Lymphatic Disorders, is the largest U.S. prospective clinical trial on PCDs and lymphedema. Key findings include:
- 92% patient compliance at 8 weeks, 72% at 52 weeks
- 1.4 cm decrease in limb girth
- Cellulitis events reduced from 21.4% to 6.1%
- Skin hyperpigmentation decreased from 75% to 40% of patients
- 6% limb girth reduction at 12 weeks in moderate and severe cases
The study involved 179 Veterans across four VA medical centers, with chronic venous insufficiency being the most common cause of lymphedema (63% of participants). The results demonstrate significant improvements in quality of life, clinical outcomes, and therapy adherence.
Tactile Medical (Nasdaq: TCMD) has received PDAC approval for its Nimbl™ Lymphedema Platform, allowing Medicare billing under HCPCS code E0651. This approval follows the FDA's 510(k) clearance in June 2024. Nimbl, the next-generation pneumatic compression device for lymphedema treatment, offers significant improvements:
- 40% size reduction and 68% weight reduction, enhancing portability
- Integration with the Kylee™ digital app for therapy tracking
- Indicated for lymphedema, chronic edema, venous insufficiency, and wound healing
CEO Sheri Dodd emphasized Nimbl's potential to improve patient acceptance and adherence. The device is set for full commercial launch in the coming weeks, reflecting Tactile Medical's commitment to innovative at-home therapies for chronic conditions.
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