Electromed reports record Q2 revenue of $11.7M (+15% YoY); CEO Skarvan to retire July 1, 2023

Electromed, Inc.

Q2 FY2023 net revenue of $11.7M (record), up 15% YoY; net income of $977k ($0.11 diluted) vs $838k ($0.10).
Homecare revenue up 14% to $10.7M; operating income $1.3M vs $1.1M.
CEO Kathleen Skarvan to retire on/about July 1, 2023; will become Board Chair; search for successor underway.
Cash $6.9M; next-gen SmartVest Clearway FDA-cleared; Brad Nagel appointed CFO in Nov 2022.

item 2.02 item 5.02 item 7.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

Kathleen S. Skarvan

President and Chief Executive Officer

ELMD · Electromed, Inc.

Effective: 2023-07-01
Filed: February 14, 2023, 6:59 PM ET

Kathleen S. Skarvan, the President and Chief Executive Officer of the Company, notified the Company of her intention to retire from the Company effective on or about July 1, 2023

Appointed

Kathleen S. Skarvan

Chair of the Board

ELMD · Electromed, Inc.

Effective: 2023-07-01
Filed: February 14, 2023, 6:59 PM ET

Following the Retirement Date, Ms. Skarvan is expected to serve as a non-employee member and Chair of the Board

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Electromed, Inc. reported the three months ended December 31, 2022 results: revenue $11.7 million, net income $977,000, EPS $0.11 per diluted share.

Period: the three months ended December 31, 2022
Revenue: $11.7 million
Net income: $977,000
EPS: $0.11 per diluted share
Result: reported results

Exact text from the filing

innovative airway clearance technologies, today announced financial results for the three months ended December 31, 2022 (“Q2 FY 2023”). Q2 FY 2023 Highlights ● Net revenue was $11.7 million for the three months ended December 31, 2022, a quarterly record and a 15% increase from $10.2 million for the three months ended December 31, 2021 (“Q2 FY 2022”) ●

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Kathleen S. Skarvan departed as President and Chief Executive Officer at Electromed, Inc..

Action: retire
Role: President and Chief Executive Officer

Exact text from the filing

Kathleen S. Skarvan, the President and Chief Executive Officer of the Company, notified the Company of her intention to retire from the Company effective on or about July 1, 2023

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.9

Kathleen S. Skarvan was appointed as Chair of the Board at Electromed, Inc..

Action: appointed
Role: Chair of the Board

Exact text from the filing

Following the Retirement Date, Ms. Skarvan is expected to serve as a non-employee member and Chair of the Board

View on SEC.gov

10 earnings releases filed in the last 30 days. Browse all earnings releases →

Electromed, Inc. filing history →

Source: SEC EDGAR

accession 0000897101-23-000086

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