Tactile Systems Technology, Inc. (Nasdaq: TCMD), a medical technology company specializing in therapies for chronic disorders, reported its fourth quarter and full year 2024 financial results on February 18, 2025. The company, known as Tactile Medical, demonstrated significant growth and strategic progress across various business areas.
Fourth Quarter 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 rose 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
- Expanded launch of Nimbl to include patients with lower extremity lymphedema
- Appointed Laura King of Directors
- Promoted Aaron Snodgrass to Senior Vice President, Sales, effective February 18, 2025
Full Year 2024 Performance
- Total revenue grew 7% year-over-year 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 the end of 2023
Management Commentary
Sheri Dodd, President and Chief Executive Officer of Tactile Medical, commented on the company’s performance: “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, deployed new workflow-related tools to enhance speed and efficiency in order operations, and served over 79,000 patients with our lymphedema and airway clearance solutions.” She added, “Financially, we demonstrated a consistent ability to strengthen our balance sheet and expand profitability, while also delivering double-digit revenue growth in the fourth quarter.”
2025 Financial Outlook
Tactile Medical expects full year 2025 total revenue in the range of $316 million to $322 million, representing 8% to 10% year-over-year growth. The company also anticipates full year 2025 adjusted EBITDA in the range of $35 million to $37 million.
Conference Call Information
Management will host a conference call with a question-and-answer session at 5:00 p.m. Eastern Time on February 18, 2025. The call can be accessed by dialing 877-407-3088 (201-389-0927 for international callers) and providing access code 13751026. A live webcast will 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 chronic conditions including lymphedema, lipedema, chronic venous insufficiency, and chronic pulmonary disease. The company collaborates with clinicians to expand clinical evidence, increase access to care, reduce healthcare costs, and improve patients’ quality of life.
