Tactile Systems Technology, Inc. reports preliminary revenue results for the full year and fourth quarter ended December 31, 2019, introduced revenue expectations for the twelve months ended December 31, 2020; Gerald R. Mattys Intends to Retire as Chief Executive Officer
January 13, 2020 at 07:05 am EST
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Tactile Systems Technology, Inc. reported preliminary revenue results for the full year and fourth quarter ended December 31, 2019, introduced revenue expectations for the twelve months ended December 31, 2020. Full year 2019 total revenue is expected to be in the range of $188.4 million to $188.8 million, representing growth of approximately 31% year-over-year.
Fourth quarter 2019 total revenue is expected to be in the range of $56.0 million to $56.4 million, representing growth of approximately 21% to 22% year-over-year.
For 2020, the Company expects revenue in the range of $227.5 million to $230.5 million, representing growth of 21% to 22% year-over-year, compared to the expected full year 2019 revenue range of $188.4 million to $188.8 million.
The company announced that Gerald R. Mattys has communicated his intention to retire as Chief Executive Officer of the Company in 2020. The Board of Directors has initiated a process to identify a successor for Mr. Mattys and has engaged an executive search firm to support the search. Mr. Mattys plans to continue as the Chief Executive Officer until his successor has started and will assist in ensuring a successful transition.
Tactile Systems Technology, Inc., doing business as Tactile Medical, is a medical technology company providing therapies for people with chronic disorders. The Company's areas of therapeutic focus are vascular disease, oncology and providing airway clearance therapy for those suffering from chronic respiratory conditions. It is developing and marketing at-home therapies for people suffering from underserved, chronic conditions including lymphedema, lipedema, chronic venous insufficiency and chronic pulmonary disease. It markets Flexitouch Plus and Entre Plus systems as at-home therapies for the treatment of lymphedema and chronic venous insufficiency. The Company markets AffloVest as an at-home therapy intended to promote airway clearance. Its Flexitouch Plus system is a fully automated, programmable, advanced pneumatic compression device. The Company's Entre system is a basic pneumatic compression device. Kylee, its free mobile application, helps patients learn about lymphedema.
Tactile Systems Technology, Inc. reports preliminary revenue results for the full year and fourth quarter ended December 31, 2019, introduced revenue expectations for the twelve months ended December 31, 2020; Gerald R. Mattys Intends to Retire as Chief Executive Officer
TACTILE SYSTEMS TECHNOLOGY, INC. 
