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 Medical (Nasdaq: TCMD) announced the acquisition of AffloVest, a portable therapy device for chronic respiratory conditions, enhancing its position in treating underserved chronic diseases. The transaction aligns with Tactile's goal of over 20% revenue growth and gross margins above 70%. AffloVest, expected to contribute $5-5.5 million in revenue from September to December 2021, opens a $5 billion market opportunity in the U.S. The deal is financed through cash and a $55 million credit facility, with an anticipated net leverage ratio of less than 1.0 by year-end 2022.
Tactile Systems Technology, Inc. (Nasdaq: TCMD) will participate in the virtual Morgan Stanley 19th Annual Global Healthcare Conference on September 9-10 and 13-15, 2021. Management's fireside chat is scheduled for September 9 at 4:15 p.m. ET. Investors can access a live audio webcast of the chat on the company’s investor relations website, with an archive available post-conference. Tactile Medical develops at-home therapy devices for chronic conditions like lymphedema, focusing on improving patient care and reducing healthcare costs.
Tactile Systems Technology, Inc. (Nasdaq: TCMD) announced its participation in the Guggenheim 2021 MedTech Disruptors Summit, taking place virtually on August 9-10, 2021. The management will engage in a fireside chat on August 9 at 3:00 p.m. Eastern Time. Tactile Medical specializes in at-home therapy devices for chronic conditions like lymphedema and chronic venous insufficiency. Their mission is to enhance patients' quality of life through advanced pneumatic compression devices and comprehensive care services, ensuring effective at-home treatment for thousands annually.
Tactile Systems Technology (Nasdaq: TCMD) reported a 45% increase in Q2 2021 revenue, totaling $51.1 million, compared to $35.1 million in Q2 2020. Net income was $1.3 million, a significant turnaround from a net loss of $13.9 million a year prior. The operating loss decreased to $0.1 million from $8.0 million. For the first half of 2021, revenue rose 19% year-over-year. The company anticipates full-year revenue between $216.3 million and $224.5 million, marking 16-20% growth. Cash and equivalents stood at $49.0 million at end of June 2021.
Tactile Systems Technology, Inc. (Nasdaq: TCMD), a medical technology company specializing in at-home treatment devices for chronic diseases, will announce its second quarter fiscal year 2021 financial results on August 2nd, after market close. A conference call hosted by management will take place at 5:00 p.m. ET the same day, with a Q&A session. Participants can join via phone or through a live webcast on the company's investor relations website. Tactile Medical focuses on home therapy devices for conditions like lymphedema and chronic venous insufficiency to improve patient care and reduce healthcare costs.
Tactile Systems Technology (Nasdaq: TCMD) announced its participation in the William Blair 41st Annual Growth Stock Conference from June 1-3, 2021. The company will host a fireside chat on June 1 at 8:40 a.m. Central Time. A live audio webcast will be available on their investor relations website, with an archive for replay post-conference. Tactile Medical specializes in at-home therapy devices for chronic conditions like lymphedema, aiming to enhance patient care and reduce healthcare costs.
Tactile Systems Technology, Inc. (TCMD) reported its Q1 2021 financial results, showing a 2% decrease in total revenue to $42.8 million year-over-year. The operating loss improved slightly to $4.1 million, while net loss increased to $2.3 million. The company maintained a cash position of $46.9 million. Despite challenges from COVID-19, management expects a recovery in Q2 and reaffirms the 2021 revenue outlook of $215.3 million to $224.5 million, indicating a potential 15%-20% growth. New appointments to the board and management aim to strengthen operations.
Tactile Medical (NASDAQ: TCMD) announced Eric Pauls as the new Senior Vice President of Sales, effective May 1, 2021, succeeding retiring Bryan Rishe. Pauls brings over 20 years of healthcare experience, having previously held senior roles at Royal Philips. His expertise includes building successful teams and expanding markets, particularly in chronic diseases like lymphedema and sleep apnea. Tactile Medical specializes in at-home therapy devices, aiming to improve patient care and reduce healthcare costs.
Tactile Systems Technology (Nasdaq: TCMD) announced it will release its first quarter 2021 financial results after market close on May 3. The management team will host a conference call at 5:00 p.m. ET to discuss these results. Participants can dial in using 877-407-3088 (or 201-389-0927 for international) with access code 13718669. A live webcast will also be available on the investor relations section of Tactile Medical's website. The company specializes in at-home treatment devices for chronic conditions like lymphedema.
Tactile Systems Technology, Inc. (Nasdaq: TCMD) announced Kristie Burns as the new Senior Vice President of Marketing & Clinical Affairs, effective March 22, 2021. Burns, who has over 25 years of experience in the healthcare sector, succeeds Darren Wennen, now Senior VP of Commercial Operations. Previously, Burns held executive roles at Cala Health and ResMed, focusing on chronic condition treatments. Tactile Medical aims to enhance its market penetration under her leadership, which could improve access to critical therapies for patients with chronic diseases.
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