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Mar 31, 2021
Tactile Systems Q1 2021 Earnings Report
Total revenue decreased due to the impact of COVID-19, but was partially offset by commercial team expansion and virtual events, resulting in a net loss.
Key Takeaways
Tactile Systems Technology reported a 2% decrease in total revenue for Q1 2021, totaling $42.8 million compared to $43.7 million in Q1 2020. The company experienced a net loss of $2.3 million, an increase from the $1.3 million net loss in the same quarter last year. Despite these challenges, the company reaffirmed its full-year 2021 outlook, anticipating revenue growth approaching 20% in the second half of the year.
Total revenue decreased 2% year-over-year to $42.8 million.
Operating loss was $4.1 million, an improvement from $4.5 million in Q1 2020.
Net loss increased to $2.3 million, compared to $1.3 million in the prior year.
Cash and cash equivalents totaled $46.9 million as of March 31, 2021.
Forward Guidance
The Company continues to expect full year 2021 total revenue in the range of $215.3 million to $224.5 million, representing an increase of 15% to 20% year-over-year, compared to total revenue of $187.1 million in 2020.
Historical Earnings Impact
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