Tactile Medical Q1 revenue up 23% to $58.8M; raises FY2023 guidance to $271-275M

TACTILE SYSTEMS TECHNOLOGY INC

2023-Q1 EPS reported -$0.09 revenue$58,846,000

Q1 revenue $58.8M (+23% YoY); net loss narrowed to $1.9M ($0.09 diluted) from $15.6M loss ($0.78).
Lymphedema revenue +22%, airway clearance +24%; gross margin 70.5%.
Adjusted EBITDA turned positive to $0.5M from ($2.6M) loss in Q1 2022.
FY2023 revenue guidance raised to $271-275M (prior $269-273M), growth ~10-11.5%.
Closed public equity offering raising $34.6M net; appointed Elaine Birkemeyer as CFO.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

TACTILE SYSTEMS TECHNOLOGY INC reported first quarter ended March 31, 2023 results: revenue $58.8 million, net income Net loss of $1.9 million, or $0.09 per diluted share, EPS $0.09 per diluted share. Guidance raised.

Period: first quarter ended March 31, 2023
Revenue: $58.8 million
Net income: Net loss of $1.9 million, or $0.09 per diluted share
EPS: $0.09 per diluted share
Guidance: raised
Result: reported results

Exact text from the filing

with chronic disorders , today reported financial results for the first quarter ended March 31, 2023. First Quarter 2023 Summary: ● Total revenue increased 23% year-over-year to $58.8 million ● Lymphedema products revenue increased 22% year-over-year ● Airway clearance products revenue increased 24% year-over-year ● Operating loss of $3.8 million versus $14.9 million

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Source: SEC EDGAR

accession 0001558370-23-008560

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