Welcome to our dedicated page for Tactile Systems news (Ticker: TCMD), a resource for investors and traders seeking the latest updates and insights on Tactile Systems stock.
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 Systems Technology, Inc. (TCMD) will release its financial results for the first quarter of fiscal year 2023 on May 8, 2023, before market open.
Management will host a conference call at 5:00 p.m. ET to discuss these results, available via phone and live webcast. Tactile Medical specializes in therapies for chronic disorders like lymphedema and chronic pulmonary disease, focusing on enhancing patient care and reducing healthcare costs. The company's commitment to improving quality of life continues as it collaborates with clinicians to expand clinical evidence and access to care.
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