Tactile Systems Technology Q3 2024 Update

TL;DR

Tactile Systems Tech Q3 2024 results are in. Check the filing for revenue and EPS details.

AI Summary

Tactile Systems Technology Inc. reported its third-quarter results for the period ending September 30, 2024. The company's financial performance for the three and nine months ended September 30, 2024, and 2023, are detailed in this filing. Specific financial figures such as revenue, net income, and earnings per share for these periods are presented.

Why It Matters

This filing provides investors with the latest financial performance data for Tactile Systems Technology Inc., crucial for understanding the company's current operational health and future prospects.

Risk Assessment

Risk Level: medium — As a publicly traded company, Tactile Systems Technology Inc. is subject to market fluctuations and industry-specific risks detailed in its SEC filings.

Key Numbers

• 23997089 — Revenue (For the three months ended September 30, 2024)
• 23600584 — Revenue (For the three months ended September 30, 2023)

Key Players & Entities

• TACTILE SYSTEMS TECHNOLOGY INC (company) — Filer
• 20240930 (date) — Reporting Period End Date
• 20241104 (date) — Filing Date
• MINNEAPOLIS (location) — Business Address City

FAQ

Key Financial Figures

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

Filing Documents

• tcmd-20240930x10q.htm (10-Q) — 2242KB
• tcmd-20240930xex10d1.htm (EX-10.1) — 81KB
• tcmd-20240930xex10d2.htm (EX-10.2) — 46KB
• tcmd-20240930xex31d1.htm (EX-31.1) — 20KB
• tcmd-20240930xex31d2.htm (EX-31.2) — 20KB
• tcmd-20240930xex32d1.htm (EX-32.1) — 9KB
• tcmd-20240930xex32d2.htm (EX-32.2) — 9KB
• 0001558370-24-014259.txt ( ) — 9021KB
• tcmd-20240930.xsd (EX-101.SCH) — 48KB
• tcmd-20240930_cal.xml (EX-101.CAL) — 67KB
• tcmd-20240930_def.xml (EX-101.DEF) — 218KB
• tcmd-20240930_lab.xml (EX-101.LAB) — 418KB
• tcmd-20240930_pre.xml (EX-101.PRE) — 343KB
• tcmd-20240930x10q_htm.xml (XML) — 1733KB

—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 24 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 34 Item 4.

Controls and Procedures

Controls and Procedures 34

—OTHER INFORMATION

PART II—OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 34 Item 1A.

Risk Factors

Risk Factors 34 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 34 Item 3. Defaults Upon Senior Securities 34 Item 4. Mine Safety Disclosures 35 Item 5. Other Information 35 Item 6. Exhibits 35 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) September 30, December 31, (In thousands, except share and per share data) 2024 2023 Assets Current assets Cash and cash equivalents $ 82,146 $ 61,033 Accounts receivable 39,970 43,173 Net investment in leases 13,953 14,195 Inventories 21,176 22,527 Prepaid expenses and other current assets 5,127 4,366 Total current assets 162,372 145,294 Non-current assets Property and equipment, net 5,878 6,195 Right of use operating lease assets 17,553 19,128 Intangible assets, net 43,708 46,724 Goodwill 31,063 31,063 Accounts receivable, non-current 3,628 10,936 Deferred income taxes 19,719 19,378 Other non-current assets 3,803 2,720 Total non-current assets 125,352 136,144 Total assets $ 287,724 $ 281,438 Liabilities and Stockholders' Equity Current liabilities Accounts payable $ 7,290 $ 6,659 Note payable 2,956 2,956 Accrued payroll and related taxes 13,086 16,789 Accrued expenses 7,088 5,904 Income taxes payable 611 1,467 Operating lease liabilities 2,883 2,807 Other current liabilities 3,240 4,475 Total current liabilities 37,154 41,057 Non-current liabilities Note payable, non-current 23,959 26,176 Accrued warranty reserve, non-current 1,448 1,681 Income taxes payable, non-current 495 446 Operating lease liabilities, non-current 16,767 18,436 Total non-current liabilities 42,669 46,739 Total liabilities 79,823 87,796 Stockholders' equity: Preferred stock, $ 0.001 par value, 50,000,000 shares authorized; none issued and outstanding as of September 30, 2024 and December 31, 2023 — — Common stock, $ 0.001 par value, 300,000,000 shares authorized; 23,997,089 shares issued and outstanding as of September 30, 2024; 23,600,584 shares issued and outsta

View Full Filing

View this 10-Q filing on SEC EDGAR