Tactile Systems sees 2026 adjusted EBITDA of $50M–$52M

Tactile now expects 2026 Adjusted EBITDA of $50 million to $52 million, compared with its prior $49 million to $51 million range.

Available on EDGAR 11/02/2026 - 04:04 PM EST Accepted by SEC EDGAR 11/02/2026 - 04:04 PM EST Learn about SEC filing dates

Rhea-AI Filing Summary

Tactile Systems Technology, Inc. (TCMD) reported third-quarter 2026 revenue of $91.9 million, up 7% from $85.8 million a year earlier. Lymphedema sales and rentals rose 13%, while airway-clearance sales fell 25%, primarily due to the DME inventory transition associated with the launch of the next-generation AffloVest system in the second quarter. Gross margin was 77%, versus 76%; operating expenses rose 13% to $60.9 million, and net income was $7.2 million, versus $8.2 million. Adjusted EBITDA was $14.3 million, versus $14.4 million.

For the first nine months, revenue rose 12% to $252.8 million, net income was $13.2 million versus $8.5 million, and Adjusted EBITDA was $29.5 million versus $21.8 million. Cash was $75.1 million with no borrowings under its credit agreement as of September 30, 2026. Tactile repurchased $6.2 million of stock in Q3; $12.5 million remained under its $25.0 million program, which expires November 3, 2027. The company continues to expect 2026 revenue of $360 million to $366 million and now expects Adjusted EBITDA of $50 million to $52 million, versus prior guidance of $49 million to $51 million.

3 points · 0 major

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0 major · 2 points

How the balance works

Positive

• Moderate pointThird-quarter revenue rose 7% to $91.9 million year over year.
• Moderate pointNine-month net income increased 56% to $13.2 million.
• Moderate pointNine-month Adjusted EBITDA increased 35% to $29.5 million.

Negative

• Moderate pointThird-quarter net income declined 13% year over year.
• Moderate pointOperating cash flow: $14.9 million versus $25.5 million for the first nine months.

8-K Event Classification

2 items: 2.02, 9.01

2 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

Key Figures

Third-quarter revenue: $91.9 million Gross margin: 77% Third-quarter net income: $7.2 million +5 more

8 metrics

Third-quarter revenue $91.9 million Third quarter 2026; up 7% year over year

Gross margin 77% Third quarter 2026; compared with 76% in third quarter 2025

Third-quarter net income $7.2 million Third quarter 2026; compared with $8.2 million in third quarter 2025

Third-quarter Adjusted EBITDA $14.3 million Third quarter 2026; compared with $14.4 million in third quarter 2025

Nine-month revenue $252.8 million Nine months ended September 30, 2026; up 12% year over year

Nine-month net income $13.2 million Nine months ended September 30, 2026; up 56% year over year

Nine-month Adjusted EBITDA $29.5 million Nine months ended September 30, 2026; up 35% year over year

2026 Adjusted EBITDA guidance $50 million to $52 million Full-year 2026; prior range was $49 million to $51 million

Key Terms

Adjusted EBITDA, DME inventory transition, Weighted-average common shares, exclusive distribution agreement

4 terms

Adjusted EBITDA financial

"the non-GAAP financial measure of Adjusted EBITDA"

Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.

DME inventory transition technical

"DME inventory transition associated with the launch"

Weighted-average common shares financial

"Weighted-average common shares used to compute net income per common share"

exclusive distribution agreement financial

"Payment for exclusive distribution agreement"

A contract in which a manufacturer or rights holder gives one distributor the sole right to sell a product or service in a particular territory or channel. For investors, it matters because exclusivity can boost predictable sales, margin stability and market reach for the parties involved, but it also concentrates risk—if the distributor underperforms or the agreement ends, revenue can drop sharply. Think of it like appointing a single shop to be the only place in town to sell a popular item.

Earnings Snapshot

Revenue: $91.9 million · Guidance included

Third quarter ended September 30, 2026

Revenue $91.9 million Up 7% year over year

Net income $7.2 million Down 13% year over year

Adjusted EBITDA $14.3 million Compared with $14.4 million in third quarter 2025

Gross margin 77% Compared with 76% in third quarter 2025

Guidance

The company continues to expect 2026 revenue of $360 million to $366 million and now expects Adjusted EBITDA of $50 million to $52 million, compared with prior guidance of $49 million to $51 million.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How much revenue did TCMD report in the third quarter of 2026?

TCMD reported third-quarter 2026 total revenue of $91.9 million, up 7% from $85.8 million in the third quarter of 2025.

What drove TCMD's third-quarter revenue change?

Lymphedema sales and rentals increased $9.5 million, or 13%, year over year, while airway-clearance sales decreased $3.4 million, or 25%. The airway-clearance decline was primarily due to the DME inventory transition associated with the launch of the next-generation AffloVest system in the second quarter.

What is TCMD's 2026 financial outlook?

Tactile continues to expect 2026 revenue of $360 million to $366 million and now expects Adjusted EBITDA of $50 million to $52 million, compared with prior Adjusted EBITDA guidance of $49 million to $51 million.

How much stock did TCMD repurchase, and what remains in its program?

Tactile repurchased $6.2 million of stock during the third quarter. $12.5 million remained available under its $25.0 million share repurchase program, which expires November 3, 2027.

How does TCMD define Adjusted EBITDA?

Tactile defines Adjusted EBITDA as net income adjusted for net interest, income taxes, depreciation and amortization, stock-based compensation, litigation-related costs, executive transition costs, acquisition and integration costs, and changes in the fair value of contingent consideration. The company describes it as supplemental to, not an alternative to, GAAP results.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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0001027838false00010278382026-11-022026-11-02

​

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) November 2, 2026

TACTILE SYSTEMS TECHNOLOGY, INC.

(Exact name of registrant as specified in its charter)

Delaware		001-37799		41-1801204
(State or other jurisdiction of		(Commission		(I.R.S. Employer
incorporation)		File Number)		Identification No.)

3701 Wayzata Blvd, Suite 300, Minneapolis, MN 55416

(Address of principal executive offices) (Zip Code)

(612) 355-5100

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, Par Value $0.001 Per Share	TCMD	The Nasdaq Stock Market LLC

​

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). ☐ Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

​

​

​

Item 2.02. Results of Operations and Financial Condition.

​

On November 2, 2026, Tactile Systems Technology, Inc. (“we,” “us,” and “our”) issued a press release disclosing our results of operations and financial condition for our most recently completed fiscal quarter. A copy of the press release is attached hereto as Exhibit 99.1.

​

In accordance with General Instruction B.2 of Form 8-K, the information in this Item 2.02, including Exhibit 99.1, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liability of that section, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933 or the Securities Exchange Act of 1934, except as shall be expressly set forth by specific reference in that filing.

​

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

​

EXHIBIT INDEX

​

Exhibit No.				Description
​		​		​
99.1			Press Release dated November 2, 2026 (Earnings Release)
104	​		Cover Page Interactive Data File (embedded within the Inline XBRL document)
​		​		​

​

​

SIGNATURES

​

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

​

		TACTILE SYSTEMS TECHNOLOGY, INC.
Date: November 2, 2026		By:	/s/ Elaine M. Birkemeyer
			Elaine M. Birkemeyer
			Chief Financial Officer

​

Exhibit 99.1

Tactile Systems Technology, Inc. Reports Third Quarter 2026 Financial Results

MINNEAPOLIS, MN, November 2, 2026 – Tactile Systems Technology, Inc. (“Tactile Medical”; the “Company”) (Nasdaq: TCMD), a medical technology company providing therapies for people with chronic disorders, today reported financial results for the third quarter ended September 30, 2026.

Third Quarter 2026 Summary and Recent Business Highlights:

● Total revenue increased 7% year-over-year to $91.9 million; revenue from our lymphedema product line increased 13% year-over-year to $81.8 million

● Gross margin expanded to 77% from 76% in Q3 2025

● Net income decreased to $7.2 million from $8.2 million in Q3 2025

● Adjusted EBITDA was $14.3 million, compared to $14.4 million in Q3 2025

● Received FDA 510(k) clearance expanding the LymphaTech 3D Scanner’s indication to aid in the assessment of lymphedema

● Submitted a 510(k) application to the FDA for Flexitouch® Pro, featuring enhancements to the Company’s advanced pneumatic compression system

● Appointed Steve Kiewiet as Chief Operating Officer, with responsibility for order operations and patient services

● Repurchased $6.2 million of stock under the Company’s share repurchase program

​

“Our results underscore the strength and durability of our core lymphedema business, which delivered its fifth consecutive quarter of double-digit year-over-year revenue growth, while gross margin expanded for the 12^th consecutive quarter,” said Sheri Dodd, Chief Executive Officer of Tactile Medical. “As a market leader in both the basic and advanced pneumatic compression categories, we see substantial opportunity ahead in a market that remains significantly underpenetrated.”

Ms. Dodd continued, “We are positioned to capture that opportunity through three connected strategic priorities: expanding access to care, creating value across the patient journey, and broadening treatment options. Together, we believe these priorities provide a clear path toward sustaining above-market lymphedema growth, driving operating leverage, and delivering shareholder value over the long term.”

​

Third Quarter 2026 Financial Results

Total revenue in the third quarter of 2026 increased $6.1 million, or 7%, to $91.9 million, compared to $85.8 million in the third quarter of 2025. The increase in total revenue was attributable to an increase of $9.5 million, or 13%, in sales and rentals of the lymphedema product line, partially offset by a decrease of $3.4 million, or 25%, in sales of the airway clearance product line, primarily due to the DME inventory transition associated with the launch of the Company’s next-generation AffloVest® system in the second quarter.

Gross profit in the third quarter of 2026 increased $5.5 million, or 8%, to $70.5 million, compared to $65.0 million in the third quarter of 2025. Gross margin was 77% of revenue, compared to 76% of revenue in the third quarter of 2025. Gross margin improvement reflected lower manufacturing costs and favorable product mix.

Operating expenses in the third quarter of 2026 increased $6.9 million, or 13%, to $60.9 million, compared to $54.0 million in the third quarter of 2025. The increase primarily reflected continued investments to support long-term growth initiatives.

Operating income was $9.6 million in the third quarter of 2026, compared to $11.0 million in the third quarter of 2025.

Income tax expense was $3.0 million in the third quarter of 2026, compared to $3.2 million in the third quarter of 2025.

Net income in the third quarter of 2026 was $7.2 million, or $0.31 per diluted share, compared to $8.2 million, or $0.36 per diluted share, in the third quarter of 2025.

Weighted-average shares used to compute diluted net income per share were 23.0 million and 22.5 million for the third quarters of 2026 and 2025, respectively.

Adjusted EBITDA was $14.3 million in the third quarter of 2026, compared to $14.4 million in the third quarter of 2025, as gross margin expansion was offset by continued investments to support long-term growth initiatives.

First Nine Months 2026 Financial Results

Total revenue for the nine months ended September 30, 2026, increased $26.9 million, or 12%, to $252.8 million, compared to $225.9 million for the nine months ended September 30, 2025. The increase in total revenue was attributable to an increase of $28.8 million, or 15%, in sales and rentals of the lymphedema product line, partially offset by a decrease of $1.9 million, or 5%, in sales of the airway clearance product line for the nine months ended September 30, 2026, compared to the nine months ended September 30, 2025.

Net income for the nine months ended September 30, 2026, was $13.2 million, or $0.57 per diluted share, compared to $8.5 million, or $0.36 per diluted share, for the nine months ended September 30, 2025.

Weighted-average shares used to compute diluted net income per share were 23.1 million and 23.3 million for the nine months ended September 30, 2026 and 2025, respectively.

Adjusted EBITDA was $29.5 million in the nine months ended September 30, 2026, compared to $21.8 million in the nine months ended September 30, 2025.

Balance Sheet Summary

As of September 30, 2026, the Company had $75.1 million in cash and no outstanding borrowings under its credit agreement, compared to $83.4 million in cash and no outstanding borrowings under its credit agreement as of December 31, 2025. The Company repurchased $6.2 million of its stock during the third quarter under its share repurchase program. As of September 30, 2026, $12.5 million remained available under the Company’s $25.0 million share repurchase program, which expires November 3, 2027.

​

​

2026 Financial Outlook

The Company continues to expect full year 2026 total revenue in the range of $360 million to $366 million, representing growth of approximately 9% to 11% year-over-year, compared to total revenue of $329.5 million in 2025.

The Company now expects full year 2026 Adjusted EBITDA in the range of $50 million to $52 million, compared to Adjusted EBITDA of $44.8 million in 2025. The Company’s prior 2026 Adjusted EBITDA guidance expectation was $49 million to $51 million.

Conference Call

Management will host a conference call with a question-and-answer session at 5:00 p.m. Eastern Time on November 2, 2026, to discuss the results of the quarter. Those who would like to participate may dial 877-407-3088 (201-389-0927 for international callers) and provide access code 13762880. A live webcast of the call will also be provided on the investor relations section of the Company's website at investors.tactilemedical.com.

For those unable to participate, a replay of the call will be available for two weeks at 877-660-6853 (201-612-7415 for international callers); access code 13762880. The webcast will be archived at investors.tactilemedical.com.

About Tactile Systems Technology, Inc. (DBA Tactile Medical)

Tactile Medical is a leader in developing and marketing at-home therapies for people suffering from underserved, chronic conditions including lymphedema, lipedema, chronic venous insufficiency and chronic respiratory conditions by helping them live better and care for themselves at home. Tactile Medical collaborates with clinicians to expand clinical evidence, raise awareness, increase access to care, reduce overall healthcare costs and improve the quality of life for tens of thousands of patients each year.

Legal Notice Regarding Forward-Looking Statements

This release contains forward-looking statements, including guidance for the full year 2026. Forward-looking statements are generally identifiable by the use of words like “may,” “will,” “should,” “could,” “expect,” “anticipate,” “estimate,” “believe,” “intend,” “continue,” “confident,” “outlook,” “guidance,” “project,” “goals,” “look forward,” “poised,” “designed,” “plan,” “return,” “focused,” “prospects” or “remain” or the negative of these words or other variations on these words or comparable terminology. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties outside of the Company’s control that can make such statements untrue, including, but not limited to, the Company’s ability to obtain reimbursement from third-party payers for its products; adverse economic conditions, including inflation, rising interest rates or a recession; the adequacy of the Company’s liquidity to pursue its business objectives; price increases for supplies and components; wage and component price inflation; loss of a key supplier or other supply chain disruptions; entry of new competitors and/or competitive products; compliance with and changes in federal, state and local government laws and regulations; technological obsolescence of, or quality issues with, the Company’s products; the Company’s ability to expand its business through strategic acquisitions; the Company’s ability to

integrate acquisitions and related businesses; the effects of current and future U.S. and foreign trade policy and tariff actions; or the inability to carry out research, development and commercialization plans. In addition, other factors that could cause actual results to differ materially are discussed in the Company’s filings with the Securities and Exchange Commission (the “SEC”). Investors and security holders are urged to read these documents, which are available free of charge on the SEC’s website at http://www.sec.gov. The Company undertakes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.

Use of Non-GAAP Financial Measures

This press release includes the non-GAAP financial measure of Adjusted EBITDA, which differs from financial measures calculated in accordance with U.S. generally accepted accounting principles (“GAAP”). Adjusted EBITDA in this release represents net income, plus interest expense, net, or less interest income, net, less income tax benefit or plus income tax expense, plus depreciation and amortization, plus stock-based compensation expense, plus litigation-related costs, plus executive transition costs, plus acquisition and integration costs, and plus change in fair value of contingent consideration. Reconciliation of this non-GAAP financial measure to its most directly comparable GAAP measure is included in this press release.

This non-GAAP financial measure is presented because the Company believes it is a useful indicator of its operating performance. Management uses this measure principally as a measure of the Company’s operating performance and for planning purposes, including the preparation of the Company’s annual operating plan and financial projections. The Company believes this measure is useful to investors as supplemental information and because it is frequently used by analysts, investors and other interested parties to evaluate companies in its industry. The Company also believes this non-GAAP financial measure is useful to its management and investors as a measure of comparative operating performance from period to period. In addition, Adjusted EBITDA is used as a performance metric in the Company’s compensation program.

The non-GAAP financial measure presented in this release should not be considered as an alternative to, or superior to, its respective GAAP financial measure, as a measure of financial performance or cash flows from operations as a measure of liquidity, or any other performance measure derived in accordance with GAAP, and it should not be construed to imply that the Company’s future results will be unaffected by unusual or non-recurring items. In addition, Adjusted EBITDA is not intended to be a measure of free cash flow for management’s discretionary use, as it does not reflect certain cash requirements such as tax payments, debt service requirements, capital expenditures and certain other cash costs that may recur in the future. Adjusted EBITDA contains certain other limitations, including the failure to reflect the Company’s cash expenditures, cash requirements for working capital needs and cash costs to replace assets being depreciated and amortized. In evaluating non-GAAP financial measures, you should be aware that in the future the Company may incur expenses that are the same as or similar to some of the adjustments in this press release. The Company’s presentation of non-GAAP financial measures should not be construed to imply that its future results will be unaffected by any such adjustments. Management compensates for these limitations by primarily relying on the Company’s GAAP results in addition to using non-GAAP financial measures on a supplemental basis. The Company’s definition of these non-GAAP financial measures is not

necessarily comparable to other similarly titled captions of other companies due to different methods of calculation.

​

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Tactile Systems Technology, Inc.
Condensed Consolidated Balance Sheets
(Unaudited)
​	​ ​ ​	September 30,		​ ​ ​	December 31,
(In thousands, except share and per share data)	​ ​ ​	2026		​ ​ ​	2025
Assets	​	​		​	​	​
Current assets	​	​	​	​	​	​
Cash	​	$	75,110	​	$	83,446
Accounts receivable, net	​		48,304	​		43,876
Net investment in leases	​		14,912	​		15,754
Inventories	​		15,596	​		14,025
Income taxes receivable	​		543	​		—
Prepaid expenses and other current assets	​		12,314	​		8,066
Total current assets	​		166,779	​		165,167
Non-current assets	​	​	​	​	​	​
Property and equipment, net	​		5,685	​		5,117
Right of use operating lease assets	​		15,282	​		13,798
Intangible assets, net	​		43,721	​		39,167
Goodwill	​	​	39,554	​	​	31,063
Deferred income taxes	​		8,695	​		9,783
Other non-current assets	​		11,578	​		9,847
Total non-current assets	​		124,515	​		108,775
Total assets	​	$	291,294	​	$	273,942
Liabilities and Stockholders' Equity	​	​	​	​	​	​
Current liabilities	​	​	​	​	​	​
Accounts payable	​	$	11,792	​	$	4,968
Accrued payroll and related taxes	​		17,470	​		19,378
Accrued expenses	​		7,881	​		8,531
Income taxes payable	​		—	​		1,428
Operating lease liabilities	​		3,245	​		3,195
Other current liabilities	​		7,111	​		3,457
Total current liabilities	​		47,499	​		40,957
Non-current liabilities	​	​	​	​	​	​
Accrued warranty reserve, non-current	​		1,092	​		1,045
Income taxes payable, non-current	​		370	​		275
Operating lease liabilities, non-current	​	​	13,821	​		12,763
Other non-current liabilities	​	​	1,260	​	​	—
Total non-current liabilities	​		16,543	​		14,083
Total liabilities	​		64,042	​		55,040
Stockholders’ equity:	​	​	​	​	​	​
Preferred stock, $0.001 par value, 50,000,000 shares authorized; none issued and outstanding as of September 30, 2026 and December 31, 2025	​		—	​		—
Common stock, $0.001 par value, 300,000,000 shares authorized; 22,495,939 shares issued and outstanding as of September 30, 2026; 22,438,926 shares issued and outstanding as of December 31, 2025	​		22	​		22
Additional paid-in capital	​		159,108	​		163,940
Retained earnings	​		68,122	​		54,940
Total stockholders’ equity	​		227,252	​		218,902
Total liabilities and stockholders’ equity	​	$	291,294	​	$	273,942

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Tactile Systems Technology, Inc.

Condensed Consolidated Statements of Operations

(Unaudited)

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Three Months Ended

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Nine Months Ended

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September 30,

​

September 30,

(In thousands, except share and per share data)

​ ​ ​

2026

​ ​ ​

2025

​ ​ ​

2026

​ ​ ​

2025

Revenue

​

​

​

​

​

​

​

​

​

​

​

​

Sales revenue

​

$

82,329

​

$

76,890

​

$

225,784

​

$

199,890

Rental revenue

​

9,529

​

8,865

​

27,039

​

26,038

Total revenue

​

91,858

​

85,755

​

252,823

​

225,928

Cost of revenue

​

​

​

​

​

​

​

​

​

​

​

​

Cost of sales revenue

​

18,400

​

17,896

​

51,287

​

49,270

Cost of rental revenue

​

2,969

​

2,858

​

8,084

​

7,518

Total cost of revenue

​

21,369

​

20,754

​

59,371

​

56,788

Gross profit

​

​

​

​

​

​

​

​

​

​

​

​

Gross profit - sales revenue

​

63,929

​

58,994

​

174,497

​

150,620

Gross profit - rental revenue

​

6,560

​

6,007

​

18,955

​

18,520

Gross profit

​

70,489

​

65,001

​

193,452

​

169,140

Operating expenses

​

​

​

​

​

​

​

​

​

​

​

​

Sales and marketing

​

33,042

​

29,809

​

97,786

​

87,364

Research and development

​

2,506

​

2,191

​

7,783

​

5,950

Reimbursement, general and administrative

​

24,657

​

21,442

​

71,061

​

63,474

Intangible asset amortization and contingent consideration

​

​

693

​

​

596

​

​

1,939

​

​

1,848

Total operating expenses

​

60,898

​

54,038

​

178,569

​

158,636

Income from operations

​

9,591

​

10,963

​

14,883

​

10,504

Interest income

​

​

560

​

​

667

​

​

1,787

​

​

2,412

Interest expense

​

​

(20)

​

​

(193)

​

​

(67)

​

​

(1,027)

Other income

​

—

​

—

​

—

​

1

Income before income taxes

​

10,131

​

11,437

​

16,603

​

11,890

Income tax expense

​

2,971

​

3,228

​

3,421

​

3,438

Net income

​

$

7,160

​

$

8,209

​

$

13,182

​

$

8,452

Net income per common share

​

​

​

​

​

​

​

​

​

​

​

​

Basic

​

$

0.32

​

$

0.37

​

$

0.58

​

$

0.37

Diluted

​

$

0.31

​

$

0.36

​

$

0.57

​

$

0.36

Weighted-average common shares used to compute net income per common share

​

​

​

​

​

​

​

​

​

​

​

​

Basic

​

​

22,632,801

​

​

22,318,570

​

​

22,624,676

​

​

23,035,461

Diluted

​

​

23,045,862

​

​

22,513,140

​

​

23,136,378

​

​

23,304,900

​

​

​

​

​

​	​	​	​	​	​	​
Tactile Systems Technology, Inc.
Condensed Consolidated Statements of Cash Flows
(Unaudited)
​	​	​
​	​	Nine Months Ended September 30,
(In thousands)	​ ​ ​	2026		​ ​ ​	2025
Cash flows from operating activities	​	​	​	​	​	​
Net income	​	$	13,182	​	$	8,452
Adjustments to reconcile net income to net cash provided by operating activities:	​	​	​	​	​	​
Depreciation and amortization	​	​	5,223	​	​	5,023
Deferred income taxes	​	​	50	​	​	1,566
Stock-based compensation expense	​	​	6,416	​	​	5,819
Loss on disposal of property and equipment and intangibles	​	​	73	​	​	68
Change in fair value of contingent consideration	​	​	61	​	​	—
Changes in assets and liabilities, net of acquisition:	​	​	​	​	​	​
Accounts receivable, net	​	​	(4,409)	​	​	7,680
Net investment in leases	​	​	842	​	​	(303)
Inventories	​	​	(1,571)	​	​	2,582
Income taxes payable	​	​	(1,876)	​	​	1,025
Prepaid expenses and other assets	​	​	(6,481)	​	​	(5,971)
Right of use operating lease assets	​	​	(376)	​	​	(322)
Accounts payable	​	​	6,773	​	​	2,117
Accrued payroll and related taxes	​	​	(1,908)	​	​	(3,196)
Accrued expenses and other liabilities	​	​	(1,106)	​	​	975
Net cash provided by operating activities	​	​	14,893	​	​	25,515
Cash flows from investing activities	​	​	​	​	​	​
Payments related to acquisition, net of cash acquired	​	​	(6,226)	​	​	—
Purchases of property and equipment	​	​	(2,655)	​	​	(1,870)
Intangible assets expenditures	​	​	(100)	​	​	(88)
Payment for exclusive distribution agreement	​	​	(3,000)	​	​	—
Net cash used in investing activities	​	​	(11,981)	​	​	(1,958)
Cash flows from financing activities	​	​	​	​	​	​
Payments on note payable	​	​	—	​	​	(26,250)
Proceeds from exercise of common stock options	​	​	248	​	​	10
Proceeds from the issuance of common stock from the employee stock purchase plan	​	​	1,032	​	​	843
Payments for repurchases of common stock	​	​	(12,528)	​	​	(26,562)
Net cash used in financing activities	​	​	(11,248)	​	​	(51,959)
Net decrease in cash	​	​	(8,336)	​	​	(28,402)
Cash – beginning of period	​	​	83,446	​	​	94,367
Cash – end of period	​	$	75,110	​	$	65,965
​	​	​	​	​	​	​
Supplemental cash flow disclosure	​	​	​	​	​	​
Cash paid for interest	​	$	59	​	$	836
Cash paid for taxes	​	$	5,238	​	$	899
Accrued excise tax on stock repurchases	​	$	—	​	$	210
Capital expenditures incurred but not yet paid	​	$	129	​	$	224
Fair value of contingent consideration included in purchase consideration	​	$	4,863	​	$	—

​

​

​

​

The following table summarizes revenue by product line for the three and nine months ended September 30, 2026 and 2025:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended

​

Nine Months Ended

​

​

September 30,

​

September 30,

(In thousands)

​ ​ ​

2026

​

2025

​

2026

​

2025

Revenue

​

​

​

​

​

​

​

​

​

​

​

​

Lymphedema products

​

$

81,838

​

$

72,381

​

$

217,689

​

$

188,905

Airway clearance products

​

​

10,020

​

​

13,374

​

​

35,134

​

​

37,023

Total

​

$

91,858

​

$

85,755

​

$

252,823

​

$

225,928

​

​

​

​

​

​

​

​

​

​

​

​

​

Percentage of total revenue

​

​

​

​

​

​

​

​

​

​

​

​

Lymphedema products

​

89%

​

84%

​

86%

​

84%

Airway clearance products

​

​

11%

​

​

16%

​

​

14%

​

​

16%

Total

​

100%

​

100%

​

100%

​

100%

​

The following table contains a reconciliation of net income to Adjusted EBITDA for the three and nine months ended September 30, 2026 and 2025, as well as the dollar and percentage change between the comparable periods:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Tactile Systems Technology, Inc.

Reconciliation of Net Income to Non-GAAP Adjusted EBITDA

(Unaudited)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended

​

Increase

​

Nine Months Ended

​

Increase

​

​

September 30,

​

(Decrease)

​

September 30,

​

(Decrease)

(Dollars in thousands)

​ ​ ​

2026

​ ​ ​

2025

​ ​ ​

$

​ ​ ​

%

​ ​ ​

2026

​ ​ ​

2025

​

$

​ ​ ​

%

Net income

$

7,160

​

$

8,209

​

$

(1,049)

(13)

%

​

$

13,182

​

$

8,452

​

$

4,730

56

%

Interest (income) expense, net

​

​

(540)

​

​

(474)

​

​

(66)

14

%

​

​

(1,720)

​

​

(1,385)

​

​

(335)

24

%

Income tax (benefit) expense

​

​

2,971

​

​

3,228

​

​

(257)

(8)

%

​

​

3,421

​

​

3,438

​

​

(17)

(0)

%

Depreciation and amortization

​

​

1,773

​

​

1,638

​

​

135

8

%

​

​

5,223

​

​

5,023

​

​

200

4

%

Stock-based compensation

​

​

2,376

​

​

1,814

​

​

562

31

%

​

​

6,416

​

​

5,819

​

​

597

10

%

Change in fair value of contingent consideration

​

​

61

​

​

—

​

​

61

​

—

%

​

​

61

​

​

—

​

​

61

​

—

%

Acquisition & integration costs

​

​

159

​

​

—

​

​

159

​

—

%

​

​

1,132

​

​

—

​

​

1,132

​

—

%

Litigation-related costs

​

​

—

​

​

—

​

​

—

​

—

%

​

​

1,000

​

​

—

​

​

1,000

​

—

%

Executive transition costs

​

​

388

​

​

—

​

​

388

​

—

%

​

​

748

​

​

491

​

​

257

​

52

%

Adjusted EBITDA

​

$

14,348

​

$

14,415

​

$

(67)

(0)

%

​

$

29,463

​

$

21,838

​

$

7,625

35

%

The following table contains a reconciliation of net income to Adjusted EBITDA for the year ended December 31, 2025:

​	​	​	​
Tactile Systems Technology, Inc.
Reconciliation of Net Income to Non-GAAP Adjusted EBITDA
(Unaudited)
​	​	​	​
​	​	Year Ended
(Dollars in thousands)	​ ​ ​	December 31, 2025
Net income		$	19,086
Interest (income) expense, net	​	​	(2,059)
Income tax expense	​	​	12,253
Depreciation and amortization	​	​	6,644
Stock-based compensation	​	​	8,357
Executive transition costs	​	​	491
Adjusted EBITDA	​	$	44,772

​

​

The following table contains a reconciliation of the GAAP net income guidance range to the Adjusted EBITDA guidance range for the twelve months ending December 31, 2026:

​	​	​	​	​	​	​
Tactile Systems Technology, Inc.
Reconciliation of FY 2026 GAAP Net Income to Adjusted EBITDA Guidance
(Unaudited)
​	​	​	​	​	​	​
​	​	Year Ended
​	​	December 31, 2026
(Dollars in thousands)	​ ​ ​	Low		​ ​ ​	High
Net income		$	23,580	​	$	25,000
Interest (income) expense, net	​	​	(2,370)	​	​	(2,370)
Income tax expense	​	​	9,170	​	​	9,750
Depreciation and amortization	​	​	7,250	​	​	7,250
Stock-based compensation	​	​	8,640	​	​	8,640
Acquisition & integration costs	​	​	1,300	​	​	1,300
Change in fair value of contingent consideration	​	​	100	​	​	100
Executive transition costs	​	​	1,330	​	​	1,330
Litigation-related costs	​	​	1,000	​	​	1,000
Adjusted EBITDA	​	$	50,000	​	$	52,000

​

Investor Inquiries:

Sam Bentzinger

Gilmartin Group

investorrelations@tactilemedical.com

Filing Exhibits & Attachments

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Press Releases

• EX-99.1 EX-99.1 622.3 KB

Other Documents

• EX-101 EX-101.SCH 3.3 KB
• EX-101 EX-101.DEF 2.7 KB
• EX-101 EX-101.LAB 16.8 KB
• EX-101 EX-101.PRE 10.0 KB