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Jun 30, 2021
Tactile Systems Q2 2021 Earnings Report
Reported financial results for the second quarter ended June 30, 2021.
Key Takeaways
Tactile Systems Technology, Inc. reported a 45% increase in total revenue year-over-year, reaching $51.1 million. The company also reported a net income of $1.3 million, a significant improvement compared to the net loss of $13.9 million in the second quarter of 2020.
Total revenue increased 45% year-over-year to $51.1 million.
Operating loss decreased to $0.1 million, compared to $8.0 million in the second quarter of 2020.
Net income reached $1.3 million, a significant improvement from a net loss of $13.9 million in the prior year.
Cash and cash equivalents totaled $49.0 million as of June 30, 2021.
Forward Guidance
The Company now expects full year 2021 total revenue in the range of $216.3 million to $224.5 million, representing growth of approximately 16% to 20% year-over-year, compared to total revenue of $187.1 million in 2020.
Positive Outlook
- Team's solid execution
- Continued recovery within the broader U.S. healthcare environment
- Notable improvements in the number of patients seeking care
- Improvements in clinic capacity
- Continued execution and improvements in the operating environment
Challenges Ahead
- Business continued to face headwinds during the second quarter from COVID-related restrictions adopted by healthcare facilities
- Impacts of the COVID-19 pandemic on the Company’s business, financial condition and results of operations
- The course of the COVID-19 pandemic and its impact on general economic, business and market conditions
Historical Earnings Impact
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Avg. Return Before/After Earnings
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