Tactile Systems Technology, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 06, 2023 at 05:03 pm EST
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Tactile Systems Technology, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 69.59 million compared to USD 65.26 million a year ago. Revenue was USD 69.59 million compared to USD 65.26 million a year ago. Net income was USD 22.3 million compared to net loss of USD 2.28 million a year ago. Basic earnings per share from continuing operations was USD 0.95 compared to basic loss per share from continuing operations of USD 0.11 a year ago. Diluted earnings per share from continuing operations was USD 0.94 compared to diluted loss per share from continuing operations of USD 0.11 a year ago.
For the nine months, sales was USD 196.77 million compared to USD 172.89 million a year ago. Revenue was USD 196.77 million compared to USD 172.89 million a year ago. Net income was USD 20.31 million compared to net loss of USD 22.49 million a year ago. Basic earnings per share from continuing operations was USD 0.89 compared to basic loss per share from continuing operations of USD 1.12 a year ago. Diluted earnings per share from continuing operations was USD 0.88 compared to diluted loss per share from continuing operations of USD 1.12 a year ago.
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. 
