Welcome to our dedicated page for Tactile Systems news (Ticker: TCMD), a resource for investors and traders seeking the latest updates and insights on Tactile Systems stock.
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.
Avation Medical has appointed Darren Wennen as Chief Marketing Officer to lead marketing and sales for its novel wearable neuromodulation system targeting overactive bladder (OAB) and urge urinary incontinence (UUI). With a proven track record in the medical device field, Wennen previously held significant roles at Tactile Medical, driving sales over $200 million. The company's therapy aims to provide a non-invasive treatment option for the 42 million Americans suffering from OAB and UUI, currently in investigational use and not yet FDA cleared.
Tactile Systems Technology, Inc. (Nasdaq: TCMD) will release its first quarter fiscal 2022 financial results on May 2, 2022, after market close. A conference call to discuss the results is scheduled for 5:00 PM ET the same day, with dial-in options available for participants. Tactile Medical focuses on developing at-home therapies for chronic conditions, enhancing patient care and access to treatment. The company aims to improve patient quality of life while collaborating with clinicians to manage healthcare costs effectively.
Tactile Systems Technology (TCMD) will participate in Oppenheimer’s 32nd Annual Healthcare Conference virtually on March 15-16, 2022. The management will engage in a fireside chat on March 15 at 3:20 p.m. Eastern Time and conduct virtual one-on-one meetings on March 16. A live audio webcast of the chat will be available on the company's investor relations website, with an archive for replay post-conference.
Tactile Medical specializes in at-home therapies for chronic conditions like lymphedema, aiming to enhance patient care and reduce healthcare costs.
Tactile Systems Technology reported a 4% revenue increase in Q4 2021, reaching $61.7 million, driven by the acquisition of AffloVest. However, the company faced a net loss of $7.5 million compared to a net income of $12.1 million in Q4 2020. For the full year, total revenue rose 11% year-over-year to $208.1 million. Despite growth, operating income decreased due to increased operating expenses, primarily in marketing and personnel. Looking ahead, Tactile anticipates 2022 revenue between $235 million and $240 million, indicating 13% to 15% growth.
Tactile Systems Technology (TCMD) announced the dismissal of a qui tam lawsuit filed by a competitor regarding its patient and physician education programs. A federal judge in Texas approved the dismissal, confirming TCMD's confidence in its business practices. The company will not incur any damages or legal costs. With the lawsuit resolved, TCMD can focus on its goals of providing innovative therapies and enhancing patient care for chronic conditions like lymphedema. The leadership emphasizes their continued commitment to professional education and patient training.
Tactile Systems Technology, Inc. (Nasdaq: TCMD), a medical technology company, announced its participation in the BTIG Virtual MedTech, Digital Health, Life Science & Diagnostic Tools Conference on February 15, 2022, at 3:30 p.m. EST. The management will engage in a virtual fireside chat, available to BTIG clients via the conference website. Tactile Medical specializes in at-home therapies for chronic conditions like lymphedema and lipedema, aiming to enhance patient quality of life and access to care.
Tactile Systems Technology, Inc. (TCMD) will release its fourth quarter and fiscal year 2021 financial results on February 22nd, after market close. A conference call hosted by management is scheduled for 5:00 p.m. ET on the same day, where they will discuss the results and answer questions from participants. Those interested can join the call via telephone or through a live webcast on the company's investor relations website. Tactile Medical focuses on at-home therapies for chronic conditions, aiming to enhance patient care and improve quality of life.
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.