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Sep 30, 2023
Tactile Systems Q3 2023 Earnings Report
Reported solid financial results driven by lymphedema product growth and improved operational efficiency.
Key Takeaways
Tactile Systems Technology, Inc. reported a 7% increase in revenue to $69.6 million, driven by a 15% increase in lymphedema product revenue. The company achieved a net income of $22.3 million, a significant improvement from the net loss of $2.3 million in the same quarter of the previous year. Improved salesforce productivity and operational efficiency contributed to record quarterly operating income and increased cash flow from operations.
Revenue increased 7% year-over-year to $69.6 million.
Lymphedema revenue increased 15% year-over-year.
Operating income was $8.0 million, compared to an operating loss of $1.6 million in the third quarter of 2022.
Net income was $22.3 million, compared to a net loss of $2.3 million in the third quarter of 2022.
Forward Guidance
The Company now expects full year 2023 total revenue in the range of $273.0 million to $277.0 million, representing growth of approximately 11% to 12% year-over-year.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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