Tactile Systems Tech Q2 2024 Filing

TL;DR

**Tactile Systems Tech Q2 2024: Financials updated, check common stock & retained earnings.**

AI Summary

Tactile Systems Technology Inc. reported its second quarter 2024 results for the period ending June 30, 2024. The company's financial statements show key figures related to common stock, retained earnings, and additional paid-in capital. Specific dollar amounts and dates are detailed within the filing.

Why It Matters

This filing provides investors with an update on Tactile Systems Technology's financial health and performance for the second quarter of 2024, impacting investment decisions.

Risk Assessment

Risk Level: medium — The filing contains standard financial reporting for a public company, but the specific financial performance and future outlook are not detailed enough to assess a definitive risk level without further context.

Key Numbers

• 23966748 — Common Stock (Represents shares outstanding or par value for the period.)
• 23600584 — Retained Earnings (Accumulated profits not distributed as dividends.)
• 0 — Operating Lease Liability Current (Short-term lease obligations.)
• 0 — Operating LeaseLiability Noncurrent (Long-term lease obligations.)

Key Players & Entities

• TACTILE SYSTEMS TECHNOLOGY INC (company) — Filer
• 20240630 (date) — Reporting Period End Date
• 20240805 (date) — Filing Date
• 0001027838 (company) — Central Index Key

FAQ

Key Financial Figures

• $0.001 — ch registered Common Stock, Par Value $0.001 Per Share TCMD The Nasdaq Stock Mar

Filing Documents

• tcmd-20240630x10q.htm (10-Q) — 2272KB
• tcmd-20240630xex3d3.htm (EX-3.3) — 31KB
• tcmd-20240630xex10d4.htm (EX-10.4) — 7KB
• tcmd-20240630xex31d1.htm (EX-31.1) — 20KB
• tcmd-20240630xex31d2.htm (EX-31.2) — 20KB
• tcmd-20240630xex32d1.htm (EX-32.1) — 9KB
• tcmd-20240630xex32d2.htm (EX-32.2) — 9KB
• 0001558370-24-010856.txt ( ) — 8931KB
• tcmd-20240630.xsd (EX-101.SCH) — 47KB
• tcmd-20240630_cal.xml (EX-101.CAL) — 65KB
• tcmd-20240630_def.xml (EX-101.DEF) — 213KB
• tcmd-20240630_lab.xml (EX-101.LAB) — 416KB
• tcmd-20240630_pre.xml (EX-101.PRE) — 338KB
• tcmd-20240630x10q_htm.xml (XML) — 1745KB

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements 4 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 23 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 32 Item 4.

Controls and Procedures

Controls and Procedures 32

—OTHER INFORMATION

PART II—OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 33 Item 1A.

Risk Factors

Risk Factors 33 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 33 Item 3. Defaults Upon Senior Securities 33 Item 4. Mine Safety Disclosures 33 Item 5. Other Information 33 Item 6. Exhibits 34 2 Table of Contents Forward-Looking Information All statements, other than statements of historical facts, contained in this Quarterly Report on Form 10-Q, including statements regarding our business, operations and financial performance and condition, as well as our plans, objectives and expectations for our business, operations and financial performance and condition, are forward-looking statements. In some cases, you can identify forward-looking statements by the following words: "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "might," "ongoing," "plan," "potential," "predict," "project," "should," "target," "will," "would," or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our results, levels of activity, performance or achievements to be materially different from the information expressed or implied by the forward-looking statements in this Quarterly Report on Form 10-Q. These risks, uncertainties and other factors include, but are not limited to: our ability to obtain reimbursement from third-party payers for our products; the impact of inflation, rising interest rates or recession; the adequacy of our liquidity to pursue our business objectives; adverse economic conditions or intense competition; price increases for supplies and components; wage and component price inflation; loss of a key supplier; entry of new competitors and products; compliance with and changes in federal, state and local government regulation; loss or retirement of key executives, including transition matters

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements Tactile Systems Technology, Inc. Condensed Consolidated Balance Sheets (Unaudited) June 30, December 31, (In thousands, except share and per share data) 2024 2023 Assets Current assets Cash and cash equivalents $ 73,618 $ 61,033 Accounts receivable 41,935 43,173 Net investment in leases 13,551 14,195 Inventories 18,846 22,527 Prepaid expenses and other current assets 3,909 4,366 Total current assets 151,859 145,294 Non-current assets Property and equipment, net 5,691 6,195 Right of use operating lease assets 17,828 19,128 Intangible assets, net 44,883 46,724 Goodwill 31,063 31,063 Accounts receivable, non-current 4,511 10,936 Deferred income taxes 19,408 19,378 Other non-current assets 3,541 2,720 Total non-current assets 126,925 136,144 Total assets $ 278,784 $ 281,438 Liabilities and Stockholders' Equity Current liabilities Accounts payable $ 5,094 $ 6,659 Note payable 2,956 2,956 Accrued payroll and related taxes 12,090 16,789 Accrued expenses 6,702 5,904 Income taxes payable 496 1,467 Operating lease liabilities 2,799 2,807 Other current liabilities 4,075 4,475 Total current liabilities 34,212 41,057 Non-current liabilities Note payable, non-current 24,698 26,176 Accrued warranty reserve, non-current 1,561 1,681 Income taxes payable, non-current 495 446 Operating lease liabilities, non-current 17,142 18,436 Total non-current liabilities 43,896 46,739 Total liabilities 78,108 87,796 Commitments and Contingencies (see Note 9) Stockholders' equity: Preferred stock, $ 0.001 par value, 50,000,000 shares authorized; none issued and outstanding as of June 30, 2024 and December 31, 2023 — — Common stock, $ 0.001 par value, 300,000,000 shares authorized; 23,966,748 shares issued and outstanding as of June 30, 2024; 23,60

View Full Filing

View this 10-Q filing on SEC EDGAR