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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 Systems Technology (Nasdaq: TCMD) will release its Q2 2022 financial results on August 1, 2022, after market close. The company specializes in medical devices for chronic diseases, providing at-home therapies for conditions like lymphedema and chronic venous insufficiency. A conference call will follow at 5:00 PM ET for discussion and a Q&A session. Interested parties can join by calling 877-407-3088 or via a live webcast on the investor relations website.
Tactile Systems Technology (Nasdaq: TCMD) announced a consensus statement highlighting the treatment of lymphedema, particularly secondary to chronic venous insufficiency (CVI). Published in Phlebology: The Journal of Venous Disease, the statement received endorsements from three independent professional societies. Key points include that pneumatic compression is recommended for lymphedema patients, and 92% of experts support its use. CEO Dan Reuvers emphasized the importance of addressing the estimated 20 million undiagnosed lymphedema cases in the U.S.
Tactile Systems Technology (Nasdaq: TCMD) will participate in the William Blair 42nd Annual Growth Stock Conference from June 6-9, 2022, at the Loews Chicago Hotel. Management will present to investors on June 7 at 1:20 p.m. Central Time, followed by a breakout session. A live audio webcast will be available on the company’s investor relations website, with a replay accessible after the conference.
Tactile Medical specializes in developing at-home therapies for chronic conditions like lymphedema and chronic pulmonary disease, aiming to improve patient care and reduce healthcare costs.
Tactile Systems Technology (Nasdaq: TCMD) reported a 12% increase in revenue for Q1 2022, totaling $48.0 million, up from $42.8 million in Q1 2021. Revenue included $7.3 million from airway clearance products, notably the AffloVest product line. However, the company faced significant challenges with an operating loss of $14.9 million and a net loss of $15.6 million, compared to losses of $4.1 million and $2.3 million respectively in Q1 2021. The company reaffirmed its 2022 revenue guidance of $235 million to $240 million, a growth of 13% to 15% year-over-year.
Avation Medical has appointed Darren Wennen as Chief Marketing Officer to lead marketing and sales for its novel wearable neuromodulation system targeting overactive bladder (OAB) and urge urinary incontinence (UUI). With a proven track record in the medical device field, Wennen previously held significant roles at Tactile Medical, driving sales over $200 million. The company's therapy aims to provide a non-invasive treatment option for the 42 million Americans suffering from OAB and UUI, currently in investigational use and not yet FDA cleared.
Tactile Systems Technology, Inc. (Nasdaq: TCMD) will release its first quarter fiscal 2022 financial results on May 2, 2022, after market close. A conference call to discuss the results is scheduled for 5:00 PM ET the same day, with dial-in options available for participants. Tactile Medical focuses on developing at-home therapies for chronic conditions, enhancing patient care and access to treatment. The company aims to improve patient quality of life while collaborating with clinicians to manage healthcare costs effectively.
Tactile Systems Technology (TCMD) will participate in Oppenheimer’s 32nd Annual Healthcare Conference virtually on March 15-16, 2022. The management will engage in a fireside chat on March 15 at 3:20 p.m. Eastern Time and conduct virtual one-on-one meetings on March 16. A live audio webcast of the chat will be available on the company's investor relations website, with an archive for replay post-conference.
Tactile Medical specializes in at-home therapies for chronic conditions like lymphedema, aiming to enhance patient care and reduce healthcare costs.
Tactile Systems Technology reported a 4% revenue increase in Q4 2021, reaching $61.7 million, driven by the acquisition of AffloVest. However, the company faced a net loss of $7.5 million compared to a net income of $12.1 million in Q4 2020. For the full year, total revenue rose 11% year-over-year to $208.1 million. Despite growth, operating income decreased due to increased operating expenses, primarily in marketing and personnel. Looking ahead, Tactile anticipates 2022 revenue between $235 million and $240 million, indicating 13% to 15% growth.
Tactile Systems Technology (TCMD) announced the dismissal of a qui tam lawsuit filed by a competitor regarding its patient and physician education programs. A federal judge in Texas approved the dismissal, confirming TCMD's confidence in its business practices. The company will not incur any damages or legal costs. With the lawsuit resolved, TCMD can focus on its goals of providing innovative therapies and enhancing patient care for chronic conditions like lymphedema. The leadership emphasizes their continued commitment to professional education and patient training.
Tactile Systems Technology, Inc. (Nasdaq: TCMD), a medical technology company, announced its participation in the BTIG Virtual MedTech, Digital Health, Life Science & Diagnostic Tools Conference on February 15, 2022, at 3:30 p.m. EST. The management will engage in a virtual fireside chat, available to BTIG clients via the conference website. Tactile Medical specializes in at-home therapies for chronic conditions like lymphedema and lipedema, aiming to enhance patient quality of life and access to care.
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