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Tactile Systems Technology, Inc. reports news as a medical technology company that develops and markets at-home therapies for chronic disorders. Its updates center on lymphedema, lipedema, chronic venous insufficiency and chronic pulmonary disease, including products and platforms such as Flexitouch Plus, AffloVest airway clearance devices and LymphaTech's digital 3D measurement and monitoring technology.
Recurring company developments include quarterly financial results, clinical evidence for home-based therapies, FDA device clearances, product portfolio expansion, order-management and reimbursement workflow initiatives, acquisitions, share repurchase activity and board governance changes. The company's news also describes its work with clinicians to expand awareness and access to care for patients using at-home therapy systems.
Tactile Medical (Nasdaq: TCMD) announced positive results from a clinical study on their Flexitouch advanced pneumatic compression device (APCD) for lower extremity lymphedema. The 52-week study, published in the Journal of Vascular Surgery, Venous and Lymphatic Disorders, is the largest U.S. prospective clinical trial on PCDs and lymphedema. Key findings include:
- 92% patient compliance at 8 weeks, 72% at 52 weeks
- 1.4 cm decrease in limb girth
- Cellulitis events reduced from 21.4% to 6.1%
- Skin hyperpigmentation decreased from 75% to 40% of patients
- 6% limb girth reduction at 12 weeks in moderate and severe cases
The study involved 179 Veterans across four VA medical centers, with chronic venous insufficiency being the most common cause of lymphedema (63% of participants). The results demonstrate significant improvements in quality of life, clinical outcomes, and therapy adherence.
Tactile Medical (Nasdaq: TCMD) has received PDAC approval for its Nimbl™ Lymphedema Platform, allowing Medicare billing under HCPCS code E0651. This approval follows the FDA's 510(k) clearance in June 2024. Nimbl, the next-generation pneumatic compression device for lymphedema treatment, offers significant improvements:
- 40% size reduction and 68% weight reduction, enhancing portability
- Integration with the Kylee™ digital app for therapy tracking
- Indicated for lymphedema, chronic edema, venous insufficiency, and wound healing
CEO Sheri Dodd emphasized Nimbl's potential to improve patient acceptance and adherence. The device is set for full commercial launch in the coming weeks, reflecting Tactile Medical's commitment to innovative at-home therapies for chronic conditions.
Tactile Systems Technology (TCMD) reported strong Q2 2024 financial results, with total revenue increasing 7% year-over-year to $73.2 million. Lymphedema product revenue grew 8%, while airway clearance product revenue rose 2%. The company achieved net income of $4.3 million, compared to a net loss in Q2 2023, and Adjusted EBITDA increased 49% to $9.1 million.
Key highlights include:
- Gross margin improved to 73.9% of revenue
- Operating income reached $5.8 million
- 510(k) clearance obtained for Nimbl system, a next-generation lymphedema therapy platform
- Sheri Dodd appointed as new President and CEO
Tactile Medical updated its 2024 financial outlook, now expecting full-year revenue between $293 million and $298 million, representing 7-9% growth year-over-year.
Tactile Systems Technology, Inc. (Nasdaq: TCMD), operating as Tactile Medical, has announced the release date for its second quarter fiscal year 2024 financial results. The results will be disclosed after market close on Monday, August 5, 2024. Following the release, management will host a conference call with a Q&A session at 5:00 p.m. Eastern Time on the same day.
Interested parties can participate in the call by dialing 877-407-3088 (201-389-0927 for international callers) and using the access code 13745955. A live webcast will be available on the company's investor relations website. For those unable to attend, a replay will be accessible for two weeks.
Tactile Medical, symbol TCMD on Nasdaq, announced its participation at the William Blair 44th Annual Growth Stock Conference, taking place from June 4-6, 2024, at the Loews Hotel in Chicago, IL. Management will engage in a fireside chat on June 4 at 9:20 a.m. CT, with a live audio webcast available on the company's investor relations website. The webcast will also be archived for later access. Tactile Medical specializes in at-home therapies for chronic conditions like lymphedema, lipedema, chronic venous insufficiency, and chronic pulmonary disease. The company aims to improve patient outcomes by working with clinicians to expand evidence and awareness, enhance care access, reduce healthcare costs, and improve quality of life.
Tactile Systems Technology, Inc. reported a 4% increase in total revenue to $61.1 million for Q1 2024. The company's lymphedema product revenue grew 5% while airway clearance product revenue decreased by 4%. Net loss was $2.2 million versus $1.9 million in Q1 2023. Adjusted EBITDA rose to $1.0 million from $0.5 million in Q1 2023. The company also completed a clinical trial and published a peer-reviewed study on its products.
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