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Tactile Systems Financials

TCMD
Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

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

Profitability Growth Leverage Liquidity Cash Flow Returns 60 / 100
Financial Profile 60/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability
42

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.

Growth
54

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.

Leverage
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.

Liquidity
79

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.

Cash Flow
56

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.

Returns
30

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.

Altman Z-Score Safe
8.86

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.

Piotroski F-Score Strong
7/9

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.

Earnings Quality Cash-Backed
2.24x

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.

Interest Coverage Safe
28.2x

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

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Earnings & Revenue

Revenue
$329.5M
YoY+12.5%
5Y CAGR+12.0%
10Y CAGR+18.0%

Tactile Systems generated $329.5M in revenue in fiscal year 2025. This represents an increase of 12.5% from the prior year.

EBITDA
$35.9M
YoY+24.0%
10Y CAGR+23.7%

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.

Net Income
$19.1M
YoY+12.5%
10Y CAGR+29.9%

Tactile Systems reported $19.1M in net income in fiscal year 2025. This represents an increase of 12.5% from the prior year.

EPS (Diluted)
$0.82
YoY+17.1%

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

Free Cash Flow
$40.4M
YoY+5.7%
5Y CAGR+122.9%
10Y CAGR+36.5%

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.

Cash & Debt
$83.4M
YoY-11.6%
5Y CAGR+11.8%
10Y CAGR+28.0%

Tactile Systems held $83.4M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share
N/A
Shares Outstanding
22M
YoY-4.9%
5Y CAGR+2.9%

Tactile Systems had 22M shares outstanding in fiscal year 2025. This represents a decrease of 4.9% from the prior year.

Margins & Returns

Gross Margin
75.9%
YoY+1.9pp
5Y CAGR+4.9pp
10Y CAGR+2.8pp

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.

Operating Margin
8.9%
YoY+1.3pp
5Y CAGR+10.8pp
10Y CAGR+3.4pp

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.

Net Margin
5.8%
YoY+0.0pp
5Y CAGR+6.1pp
10Y CAGR+3.6pp

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.

Return on Equity
8.7%
YoY+0.9pp
5Y CAGR+9.2pp

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

R&D Spending
$8.5M
YoY-4.0%
5Y CAGR+10.0%
10Y CAGR+7.0%

Tactile Systems invested $8.5M in research and development in fiscal year 2025. This represents a decrease of 4.0% from the prior year.

Share Buybacks
$26.6M
YoY+657.2%

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.

Capital Expenditures
$2.4M
YoY-0.5%
5Y CAGR+2.9%
10Y CAGR+14.9%

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

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.

Tactile Systems (TCMD) revenue grew by 12.5% year-over-year, from $293.0M to $329.5M in fiscal year 2025.

Yes, Tactile Systems (TCMD) reported a net income of $19.1M in fiscal year 2025, with a net profit margin of 5.8%.

Tactile Systems (TCMD) reported diluted earnings per share of $0.82 for fiscal year 2025. This represents a 17.1% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Tactile Systems (TCMD) had EBITDA of $35.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

As of fiscal year 2025, Tactile Systems (TCMD) had $83.4M in cash and equivalents against $0 in long-term debt.

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.

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.

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.

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.

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.

Tactile Systems (TCMD) generated $42.8M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Tactile Systems (TCMD) had $273.9M in total assets as of fiscal year 2025, including both current and long-term assets.

Tactile Systems (TCMD) invested $2.4M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Tactile Systems (TCMD) invested $8.5M in research and development during fiscal year 2025.

Yes, Tactile Systems (TCMD) spent $26.6M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

Tactile Systems (TCMD) had 22M shares outstanding as of fiscal year 2025.

Tactile Systems (TCMD) had a current ratio of 4.03 as of fiscal year 2025, which is generally considered healthy.

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.

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.

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.

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.

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.

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.

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.

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