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Sep 30, 2021
Tactile Systems Q3 2021 Earnings Report
Revenue increased but earnings decreased due to various factors including the Delta variant and increased operating expenses.
Key Takeaways
Tactile Systems Technology reported a 7% increase in revenue for Q3 2021, reaching $52.5 million. However, the company experienced a net loss of $3.4 million, a decrease compared to the net income of $2.4 million in Q3 2020. The results were impacted by COVID-19, the Delta variant, and challenges in the labor market.
Total revenue increased 7% year-over-year to $52.5 million.
Operating loss of $1.4 million, compared to operating income of $1.8 million in third quarter 2020.
Net loss of $3.4 million, compared to net income of $2.4 million in third quarter 2020.
The company acquired the assets of the AffloVest respiratory therapy business.
Forward Guidance
The Company now expects full year 2021 total revenue in the range of $203.5 million to $206.0 million, representing growth of approximately 9% to 10% year-over-year, compared to total revenue of $187.1 million in 2020. This includes the AffloVest expected revenue range of approximately $5.0 million to $5.5 million from the closing date of September 8, 2021 to December 31, 2021.
Positive Outlook
- Expected revenue contribution from AffloVest acquisition of $5.0 to $5.5 million.
- Integration of AffloVest is progressing well.
- Expanded addressable U.S. market opportunity to over $10 billion per year.
- Commitment to advancing the at-home treatment of patients with underserved chronic conditions.
- Expect to deliver strong growth and improving profitability as conditions improve.
Challenges Ahead
- Continued COVID-related headwinds.
- Salesforce staffing challenges.
- Prolonged recovery from COVID-19.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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