This page shows Tactile Systems (TCMD) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 12 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Tactile Systems has an operating margin of 8.9%, meaning the company retains $9 of operating profit per $100 of revenue. This results in a moderate score of 42/100, indicating healthy but not exceptional operating efficiency. This is up from 7.6% the prior year.
Tactile Systems's revenue grew 12.5% year-over-year to $329.5M, a solid pace of expansion. This earns a growth score of 54/100.
Tactile Systems carries a low D/E ratio of 0.00, meaning only $0.00 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 4.03, Tactile Systems holds $4.03 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 79/100.
Tactile Systems has a free cash flow margin of 12.3%, earning a moderate score of 56/100. The company generates positive cash flow after capital investments, but with room for improvement.
Tactile Systems's ROE of 8.7% shows moderate profitability relative to equity, earning a score of 30/100. This is up from 7.8% the prior year.
Tactile Systems scores 8.86, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($594.5M) relative to total liabilities ($55.0M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Tactile Systems passes 7 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Tactile Systems generates $2.24 in operating cash flow ($42.8M OCF vs $19.1M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Tactile Systems earns $28.2 in operating income for every $1 of interest expense ($29.3M vs $1.0M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Earnings & Revenue
Tactile Systems generated $329.5M in revenue in fiscal year 2025. This represents an increase of 12.5% from the prior year.
Tactile Systems's EBITDA was $35.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 24.0% from the prior year.
Tactile Systems reported $19.1M in net income in fiscal year 2025. This represents an increase of 12.5% from the prior year.
Tactile Systems earned $0.82 per diluted share (EPS) in fiscal year 2025. This represents an increase of 17.1% from the prior year.
Cash & Balance Sheet
Tactile Systems generated $40.4M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 5.7% from the prior year.
Tactile Systems held $83.4M in cash against $0 in long-term debt as of fiscal year 2025.
Tactile Systems had 22M shares outstanding in fiscal year 2025. This represents a decrease of 4.9% from the prior year.
Margins & Returns
Tactile Systems's gross margin was 75.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 1.9 percentage points from the prior year.
Tactile Systems's operating margin was 8.9% in fiscal year 2025, reflecting core business profitability. This is up 1.3 percentage points from the prior year.
Tactile Systems's net profit margin was 5.8% in fiscal year 2025, showing the share of revenue converted to profit. This is up 0.0 percentage points from the prior year.
Tactile Systems's ROE was 8.7% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 0.9 percentage points from the prior year.
Capital Allocation
Tactile Systems invested $8.5M in research and development in fiscal year 2025. This represents a decrease of 4.0% from the prior year.
Tactile Systems spent $26.6M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 657.2% from the prior year.
Tactile Systems invested $2.4M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 0.5% from the prior year.
TCMD Income Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $103.6M+20.8% | $85.8M+8.7% | $78.9M+28.8% | $61.3M-28.4% | $85.6M+17.1% | $73.1M-0.2% | $73.2M+19.9% | $61.1M |
| Cost of Revenue | $22.6M+8.8% | $20.8M+3.2% | $20.1M+26.3% | $15.9M-25.0% | $21.2M+15.9% | $18.3M-4.2% | $19.1M+8.2% | $17.7M |
| Gross Profit | $81.0M+24.6% | $65.0M+10.6% | $58.8M+29.7% | $45.3M-29.6% | $64.4M+17.5% | $54.8M+1.3% | $54.1M+24.6% | $43.4M |
| R&D Expenses | $2.5M+15.5% | $2.2M+8.6% | $2.0M+15.9% | $1.7M-14.6% | $2.0M-15.7% | $2.4M+8.2% | $2.2M+4.2% | $2.1M |
| SG&A Expenses | $25.2M+17.7% | $21.4M-2.7% | $22.0M+10.2% | $20.0M+0.1% | $20.0M+10.3% | $18.1M+8.0% | $16.8M+3.2% | $16.3M |
| Operating Income | $18.8M+71.3% | $11.0M+168.5% | $4.1M+189.9% | -$4.5M-136.3% | $12.5M+84.6% | $6.8M+15.9% | $5.8M+297.3% | -$3.0M |
| Interest Expense | $11K-94.3% | $193K-52.9% | $410K-3.3% | $424K-10.2% | $472K-8.7% | $517K-2.3% | $529K-6.7% | $567K |
| Income Tax | $8.8M+173.1% | $3.2M+147.0% | $1.3M+219.1% | -$1.1M-133.5% | $3.3M+57.6% | $2.1M+17.0% | $1.8M+396.0% | -$600K |
| Net Income | $10.6M+29.5% | $8.2M+155.2% | $3.2M+208.2% | -$3.0M-130.6% | $9.7M+88.5% | $5.2M+19.9% | $4.3M+294.6% | -$2.2M |
| EPS (Diluted) | N/A | $0.36+157.1% | $0.14+207.7% | $-0.13 | N/A | $0.21+16.7% | $0.18+300.0% | $-0.09 |
TCMD Balance Sheet
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $273.9M+5.7% | $259.2M-5.1% | $273.0M-2.6% | $280.2M-5.9% | $297.9M+3.5% | $287.7M+3.2% | $278.8M+2.5% | $272.0M |
| Current Assets | $165.2M+16.8% | $141.4M-7.6% | $153.0M-4.5% | $160.1M-9.8% | $177.6M+9.4% | $162.4M+6.9% | $151.9M+7.5% | $141.3M |
| Cash & Equivalents | $83.4M+26.5% | $66.0M-19.1% | $81.5M-2.5% | $83.6M-11.4% | $94.4M+14.9% | $82.1M+11.6% | $73.6M+21.3% | $60.7M |
| Inventory | $14.0M-12.8% | $16.1M-6.0% | $17.1M-9.3% | $18.9M+1.1% | $18.7M-11.9% | $21.2M+12.4% | $18.8M-9.6% | $20.8M |
| Accounts Receivable | $43.9M+17.8% | $37.3M+12.6% | $33.1M-7.3% | $35.7M-20.6% | $44.9M+12.4% | $40.0M-4.7% | $41.9M+3.6% | $40.5M |
| Goodwill | $31.1M0.0% | $31.1M0.0% | $31.1M0.0% | $31.1M0.0% | $31.1M0.0% | $31.1M0.0% | $31.1M0.0% | $31.1M |
| Total Liabilities | $55.0M+1.5% | $54.2M-30.6% | $78.1M+4.7% | $74.6M-8.3% | $81.3M+1.9% | $79.8M+2.2% | $78.1M-0.6% | $78.6M |
| Current Liabilities | $41.0M+4.5% | $39.2M-3.0% | $40.4M+14.1% | $35.4M-13.0% | $40.7M+9.6% | $37.2M+8.6% | $34.2M+3.3% | $33.1M |
| Long-Term Debt | $0 | $0 | N/A | N/A | N/A | $27.0M-2.9% | $27.8M-2.5% | $28.5M |
| Total Equity | $218.9M+6.8% | $204.9M+5.1% | $194.9M-5.2% | $205.6M-5.1% | $216.6M+4.2% | $207.9M+3.6% | $200.7M+3.7% | $193.5M |
| Retained Earnings | $54.9M+24.0% | $44.3M+22.7% | $36.1M+9.8% | $32.9M-8.3% | $35.9M+37.2% | $26.1M+24.6% | $21.0M+25.8% | $16.7M |
TCMD Cash Flow Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $17.3M+67.3% | $10.3M-29.9% | $14.8M+3438.8% | $417K-97.4% | $16.3M+59.3% | $10.3M-22.0% | $13.1M+1322.3% | $924K |
| Capital Expenditures | $510K-54.5% | $1.1M+204.1% | $369K-2.6% | $379K-17.6% | $460K-51.6% | $950K+90.0% | $500K+3.7% | $482K |
| Free Cash Flow | $16.8M+82.1% | $9.2M-35.9% | $14.4M+37763.2% | $38K-99.8% | $15.9M+70.6% | $9.3M-26.4% | $12.6M+2760.2% | $442K |
| Investing Cash Flow | -$577K+50.0% | -$1.2M-190.7% | -$397K+2.5% | -$407K+17.3% | -$492K+49.7% | -$978K-86.3% | -$525K-4.6% | -$502K |
| Financing Cash Flow | $762K+103.1% | -$24.8M-50.4% | -$16.5M-52.9% | -$10.8M-197.2% | -$3.6M-382.7% | -$750K-354.2% | $295K+139.4% | -$749K |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | -$1K | $0-100.0% | $16.5M+65.1% | $10.0M | N/A | N/A | N/A | N/A |
TCMD Financial Ratios
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 78.2%+2.4pp | 75.8%+1.3pp | 74.5%+0.5pp | 74.0%-1.2pp | 75.2%+0.2pp | 75.0%+1.1pp | 73.9%+2.8pp | 71.1% |
| Operating Margin | 18.1%+5.3pp | 12.8%+7.6pp | 5.2%+12.6pp | -7.4%-22.0pp | 14.6%+5.3pp | 9.3%+1.3pp | 8.0%+12.8pp | -4.9% |
| Net Margin | 10.3%+0.7pp | 9.6%+5.5pp | 4.1%+8.9pp | -4.9%-16.2pp | 11.3%+4.3pp | 7.0%+1.2pp | 5.9%+9.5pp | -3.6% |
| Return on Equity | 4.9%+0.9pp | 4.0%+2.4pp | 1.7%+3.1pp | -1.5%-5.9pp | 4.5%+2.0pp | 2.5%+0.3pp | 2.1%+3.3pp | -1.1% |
| Return on Assets | 3.9%+0.7pp | 3.2%+2.0pp | 1.2%+2.2pp | -1.1%-4.3pp | 3.3%+1.5pp | 1.8%+0.2pp | 1.5%+2.4pp | -0.8% |
| Current Ratio | 4.03+0.4 | 3.61-0.2 | 3.79-0.7 | 4.52+0.2 | 4.360.0 | 4.37-0.1 | 4.44+0.2 | 4.26 |
| Debt-to-Equity | 0.000.0 | 0.00-0.4 | 0.40+0.0 | 0.36-0.0 | 0.38+0.2 | 0.130.0 | 0.140.0 | 0.15 |
| FCF Margin | 16.2%+5.5pp | 10.8%-7.5pp | 18.2%+18.2pp | 0.1%-18.5pp | 18.6%+5.8pp | 12.7%-4.5pp | 17.3%+16.5pp | 0.7% |
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Frequently Asked Questions
What is Tactile Systems's annual revenue?
Tactile Systems (TCMD) reported $329.5M in total revenue for fiscal year 2025. This represents a 12.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Tactile Systems's revenue growing?
Tactile Systems (TCMD) revenue grew by 12.5% year-over-year, from $293.0M to $329.5M in fiscal year 2025.
Is Tactile Systems profitable?
Yes, Tactile Systems (TCMD) reported a net income of $19.1M in fiscal year 2025, with a net profit margin of 5.8%.
What is Tactile Systems's EBITDA?
Tactile Systems (TCMD) had EBITDA of $35.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Tactile Systems have?
As of fiscal year 2025, Tactile Systems (TCMD) had $83.4M in cash and equivalents against $0 in long-term debt.
What is Tactile Systems's gross margin?
Tactile Systems (TCMD) had a gross margin of 75.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Tactile Systems's operating margin?
Tactile Systems (TCMD) had an operating margin of 8.9% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Tactile Systems's net profit margin?
Tactile Systems (TCMD) had a net profit margin of 5.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Tactile Systems's return on equity (ROE)?
Tactile Systems (TCMD) has a return on equity of 8.7% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Tactile Systems's free cash flow?
Tactile Systems (TCMD) generated $40.4M in free cash flow during fiscal year 2025. This represents a 5.7% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Tactile Systems's operating cash flow?
Tactile Systems (TCMD) generated $42.8M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Tactile Systems's total assets?
Tactile Systems (TCMD) had $273.9M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Tactile Systems's capital expenditures?
Tactile Systems (TCMD) invested $2.4M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Tactile Systems spend on research and development?
Tactile Systems (TCMD) invested $8.5M in research and development during fiscal year 2025.
What is Tactile Systems's current ratio?
Tactile Systems (TCMD) had a current ratio of 4.03 as of fiscal year 2025, which is generally considered healthy.
What is Tactile Systems's debt-to-equity ratio?
Tactile Systems (TCMD) had a debt-to-equity ratio of 0.00 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Tactile Systems's return on assets (ROA)?
Tactile Systems (TCMD) had a return on assets of 7.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Tactile Systems's Altman Z-Score?
Tactile Systems (TCMD) has an Altman Z-Score of 8.86, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Tactile Systems's Piotroski F-Score?
Tactile Systems (TCMD) has a Piotroski F-Score of 7 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Tactile Systems's earnings high quality?
Tactile Systems (TCMD) has an earnings quality ratio of 2.24x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Tactile Systems cover its interest payments?
Tactile Systems (TCMD) has an interest coverage ratio of 28.2x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Tactile Systems?
Tactile Systems (TCMD) scores 60 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.