Tactile Systems Stock Price, News & Analysis

Tactile Systems Technology has appointed Valerie Asbury and D. Brent Shafer to its Board of Directors effective January 5, 2022. Asbury, previously CEO of LifeScan, brings extensive experience in diabetes management, while Shafer, former CEO of Cerner Corporation, has a strong background in healthcare technology. Their appointments come as the company prepares for a transition, with three long-standing directors retiring before the upcoming shareholder meeting in May. Chairman Bill Burke stated the new members will enhance the board's expertise in treating chronic diseases.

On November 10, 2021, Tactile Systems Technology (Nasdaq: TCMD) announced its participation in two upcoming investor conferences. Management will engage in investor meetings on November 18 at the Canaccord Genuity Virtual MedTech Forum, without a formal presentation. They will also participate in a virtual fireside chat available from November 22 at the Piper Sandler 33rd Annual Virtual Healthcare Conference, with additional meetings scheduled for December 1. A webcast will be accessible on the company's investor relations website.

Tactile Systems Technology (Nasdaq: TCMD) reported a 7% increase in third quarter revenue, reaching $52.5 million, driven partly by its recent acquisition of AffloVest, which contributed $0.9 million. However, the company faced an operating loss of $1.4 million, contrasting with operating income of $1.8 million in Q3 2020. Net loss was $3.4 million, down from a $2.4 million gain in the prior year. The company revised its 2021 revenue outlook to $203.5 million to $206.0 million, indicating a slower growth rate of 9% to 10% year-over-year.

Tactile Medical (TCMD) will release its Q3 fiscal year 2021 financial results on November 8, after market close. A conference call is scheduled for 5:00 p.m. ET on the same day, allowing stakeholders to discuss the results. Interested participants can join via phone or a live webcast available on the company’s investor relations website. Tactile Medical specializes in at-home therapy devices for chronic conditions, aiming to improve patient quality of life and reduce healthcare costs.

Tactile Systems Technology, Inc. (Nasdaq: TCMD) has enrolled its first patient in a significant clinical trial assessing the effectiveness of its Flexitouch^® Plus system for treating head and neck lymphedema, a condition affecting over 90% of head and neck cancer patients. This trial, the largest of its kind, aims to compare Flexitouch Plus to standard care across approximately 250 subjects at six sites. The primary outcomes will focus on swelling, symptom burden, and quality of life, evaluated over six months. This milestone highlights Tactile Medical's commitment to enhancing at-home treatment options for underserved patients.

Tactile Medical (Nasdaq: TCMD) announced the acquisition of AffloVest, a portable therapy device for chronic respiratory conditions, enhancing its position in treating underserved chronic diseases. The transaction aligns with Tactile's goal of over 20% revenue growth and gross margins above 70%. AffloVest, expected to contribute $5-5.5 million in revenue from September to December 2021, opens a $5 billion market opportunity in the U.S. The deal is financed through cash and a $55 million credit facility, with an anticipated net leverage ratio of less than 1.0 by year-end 2022.

Tactile Systems Technology, Inc. (Nasdaq: TCMD) will participate in the virtual Morgan Stanley 19th Annual Global Healthcare Conference on September 9-10 and 13-15, 2021. Management's fireside chat is scheduled for September 9 at 4:15 p.m. ET. Investors can access a live audio webcast of the chat on the company’s investor relations website, with an archive available post-conference. Tactile Medical develops at-home therapy devices for chronic conditions like lymphedema, focusing on improving patient care and reducing healthcare costs.

Tactile Systems Technology, Inc. (Nasdaq: TCMD) announced its participation in the Guggenheim 2021 MedTech Disruptors Summit, taking place virtually on August 9-10, 2021. The management will engage in a fireside chat on August 9 at 3:00 p.m. Eastern Time. Tactile Medical specializes in at-home therapy devices for chronic conditions like lymphedema and chronic venous insufficiency. Their mission is to enhance patients' quality of life through advanced pneumatic compression devices and comprehensive care services, ensuring effective at-home treatment for thousands annually.

Tactile Systems Technology (Nasdaq: TCMD) reported a 45% increase in Q2 2021 revenue, totaling $51.1 million, compared to $35.1 million in Q2 2020. Net income was $1.3 million, a significant turnaround from a net loss of $13.9 million a year prior. The operating loss decreased to $0.1 million from $8.0 million. For the first half of 2021, revenue rose 19% year-over-year. The company anticipates full-year revenue between $216.3 million and $224.5 million, marking 16-20% growth. Cash and equivalents stood at $49.0 million at end of June 2021.