Tactile Medical Reports Strong Q4 and Full-Year 2024 Results
MINNEAPOLIS, Feb. 18, 2025 – Tactile Systems Technology, Inc. (“Tactile Medical”), a medical technology company providing therapies for people with chronic disorders, today reported financial results for the fourth quarter and full year ended December 31, 2024.
Fourth Quarter 2024 Highlights
- Total revenue increased 10% year-over-year to $85.6 million
- Gross margin expanded to 75.2% from 72.1% in Q4 2023
- Net income grew to $9.7 million from $8.2 million in Q4 2023
- Adjusted EBITDA reached $16.2 million, up from $15.4 million in Q4 2023
Full Year 2024 Summary
- Total revenue increased 7% to $293.0 million
- Gross margin improved to 74% from 71% in 2023
- Operating cash flow reached $40.7 million, up from $35.9 million in 2023
- Cash balance ended 2024 at $94.4 million, up from $61.0 million at end of 2023
Sheri Dodd, President and CEO of Tactile Medical, commented, “Our fourth quarter results capped off a dynamic year for Tactile, during which we launched our next-generation lymphedema platform, generated clinical evidence supporting the value of our therapies, and served over 79,000 patients with our lymphedema and airway clearance solutions. Financially, we demonstrated a consistent ability to strengthen our balance sheet and expand profitability, while delivering double-digit revenue growth in the fourth quarter.”
Financial Outlook for 2025
Tactile Medical expects full-year 2025 total revenue in the range of $316 million to $322 million, representing growth of approximately 8% to 10% year-over-year. The company also expects full-year 2025 adjusted EBITDA in the range of $35 million to $37 million.
The company’s management will host a conference call with a question-and-answer session at 5:00 p.m. Eastern Time on February 18, 2025, to discuss the results of the quarter and fiscal year. Interested parties can dial 877-407-3088 (201-389-0927 for international callers) and provide access code 13751026. A live webcast will also be available on the investor relations section of the company’s website at investors.tactilemedical.com.
Tactile Medical is a leader in developing and marketing at-home therapies for people suffering from chronic conditions including lymphedema, lipedema, chronic venous insufficiency, and chronic pulmonary disease. The company collaborates with clinicians to expand clinical evidence, raise awareness, increase access to care, reduce overall healthcare costs, and improve the quality of life for tens of thousands of patients each year.
