Tactile Systems Technology ( (TCMD) ) has released its Q4 earnings. Here is a breakdown of the information Tactile Systems Technology presented to its investors.
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Tactile Systems Technology, Inc., also known as Tactile Medical, is a medical technology company focusing on providing at-home therapies for chronic conditions such as lymphedema and chronic pulmonary disease, aiming to improve patients’ quality of life and reduce healthcare costs.
In the latest earnings report, Tactile Systems Technology announced a notable financial performance for the fourth quarter and full year 2024, highlighting a year-over-year revenue growth of 10% in the fourth quarter to $85.6 million and a 7% increase for the entire year to $293 million. The company also improved its gross margin and demonstrated increased profitability with a net income rise to $9.7 million in Q4 2024 from $8.2 million in the same period the previous year.
Key financial metrics from the report include a substantial gross profit increase by 15% in the fourth quarter and a 74% gross margin for the entire year, up from 71% in 2023. The company’s adjusted EBITDA also showed improvement, reaching $16.2 million in the fourth quarter. Strategically, Tactile expanded the launch of its Nimbl product for lower extremity lymphedema and strengthened its leadership team with new appointments.
Looking forward, Tactile Systems Technology’s management expresses confidence in sustaining growth through 2025, expecting revenue to increase by 8% to 10% and continuing to enhance patient care and treatment options. The company aims to capitalize on strong market fundamentals and its innovative product portfolio to maintain its market leadership while achieving sustainable, profitable growth.
