Tactile Systems Technology (NASDAQ: TCMD) lifts earnings, narrows 2026 revenue outlook

Rhea-AI Filing Summary

Tactile Systems Technology, Inc. reported strong results for the quarter ended June 30, 2026. Total revenue rose 9% to $85.7 million from $78.9 million a year earlier, driven by a 12% increase in lymphedema product revenue, partially offset by lower airway clearance sales tied to temporary inventory dynamics around the next-generation AffloVest launch.

Gross profit increased to $65.3 million, with gross margin improving to 76% from 75%. Operating income rose to $6.8 million, and net income grew to $7.8 million, or $0.34 per diluted share, compared to $3.2 million, or $0.14 per share, in the prior-year quarter. Adjusted EBITDA climbed to $11.4 million, up 49% from $7.7 million.

For the first six months of 2026, revenue increased 15% to $161.0 million, with net income of $6.0 million and Adjusted EBITDA of $15.1 million, more than doubling year over year. The company ended June 30, 2026 with $69.9 million in cash and no outstanding borrowings, after repurchasing $5.3 million of stock in the quarter. Full-year 2026 revenue guidance was narrowed to $360–$366 million (9–11% growth), while Adjusted EBITDA guidance was maintained at $49–$51 million.

Positive

• Total revenue grew 15% to $161.0 million for the first six months of 2026, showing broad top-line expansion versus $140.2 million in the same period of 2025.
• Net income increased sharply to $7.8 million in Q2 2026 and $6.0 million year-to-date, compared with $3.2 million and $0.2 million in the prior-year periods.
• Adjusted EBITDA more than doubled year-to-date to $15.1 million from $7.4 million, with Q2 Adjusted EBITDA up 49% to $11.4 million, indicating stronger underlying profitability.
• Gross margin improved to 76% in Q2 2026 from 75%, reflecting operating execution and product cost discipline.
• Balance sheet remains strong with $69.9 million in cash and no outstanding borrowings as of June 30, 2026, providing financial flexibility.
• Share repurchases totaled $5.3 million in Q2 2026, with $18.7 million remaining under the $25.0 million authorization, potentially enhancing per-share metrics.

Negative

• Operating cash flow declined significantly to $2.9 million for the first six months of 2026 from $15.2 million in the prior-year period, reflecting higher working capital and other cash uses.
• Full-year 2026 revenue guidance was narrowed to $360–$366 million from a prior range of $360–$368 million, trimming the top end of expected growth.
• Cash balance decreased to $69.9 million at June 30, 2026 from $83.4 million at December 31, 2025, due in part to acquisitions, investments and stock repurchases.

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, and exhibit attachments filed with this report.

Key Figures

Q2 2026 Revenue: $85.7 million Q2 2026 Net Income: $7.8 million Q2 2026 Adjusted EBITDA: $11.4 million +5 more

8 metrics

Q2 2026 Revenue $85.7 million Total revenue for the quarter ended June 30, 2026; up 9% from $78.9 million in Q2 2025

Q2 2026 Net Income $7.8 million Net income for the quarter ended June 30, 2026; up from $3.2 million in Q2 2025

Q2 2026 Adjusted EBITDA $11.4 million Adjusted EBITDA for Q2 2026 versus $7.7 million in Q2 2025, a 49% increase

Cash Balance $69.9 million Cash as of June 30, 2026, with no outstanding borrowings under the credit agreement

2026 Revenue Guidance $360–$366 million Full-year 2026 total revenue outlook, representing approximately 9–11% growth over $329.5 million in 2025

2026 Adjusted EBITDA Guidance $49–$51 million Full-year 2026 Adjusted EBITDA guidance compared with $44.8 million in 2025

Share Repurchases Q2 2026 $5.3 million Amount of company stock repurchased during the second quarter of 2026

Q2 2026 Gross Margin 76% Gross margin as a percentage of revenue in Q2 2026 versus 75% in Q2 2025

Key Terms

Adjusted EBITDA, lymph edema products, high frequency chest wall oscillation, share repurchase program, +1 more

5 terms

Adjusted EBITDA financial

"Adjusted EBITDA was $11.4 million in the second quarter of 2026, compared to $7.7 million"

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.

lymph edema products medical

"The increase in total revenue was attributable to an increase of $19.3 million in sales and rentals of the lymphedema product line"

high frequency chest wall oscillation medical

"AffloVest to be a leading high frequency chest wall oscillation technology therapy"

share repurchase program financial

"As of June 30, 2026, $18.7 million remained available under the Company’s $25.0 million share repurchase program"

A share repurchase program is when a company buys back its own shares from the marketplace. This reduces the total number of shares available, which can increase the value of each remaining share and signal confidence in the company's prospects. For investors, it often suggests that the company believes its stock is undervalued or that it has extra cash to return to shareholders.

non-GAAP financial measure financial

"This press release includes the non-GAAP financial measure of Adjusted EBITDA"

A non-GAAP financial measure is a way companies present their financial results that excludes certain expenses or income to show how they believe their core business is performing. It matters because it can give a clearer picture of how the company is really doing, but it can also be used to make results look better than they actually are.

Earnings Snapshot

Revenue: $85.7 million · Guidance included

quarter ended June 30, 2026

Revenue $85.7 million Increased by $6.8 million, or 9%, from $78.9 million in Q2 2025

Net income $7.8 million Increased by $4.6 million from $3.2 million in Q2 2025, a 142% increase

Diluted EPS $0.34 Up from $0.14 per diluted share in Q2 2025

Adjusted EBITDA $11.4 million Increased by $3.7 million, or 49%, from $7.7 million in Q2 2025

First six months 2026 revenue $161.0 million Increased by $20.8 million, or 15%, from $140.2 million for the first six months of 2025

First six months 2026 Adjusted EBITDA $15.1 million Increased by $7.7 million, or 104%, from $7.4 million in the first six months of 2025

Guidance

For full-year 2026, the company expects total revenue of $360–$366 million, representing approximately 9–11% growth over $329.5 million in 2025, and Adjusted EBITDA of $49–$51 million, compared to Adjusted EBITDA of $44.8 million in 2025.

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FAQ

How did Tactile Systems Technology (TCMD) perform in Q2 2026?

Tactile Systems Technology delivered Q2 2026 revenue of $85.7 million, up 9% year over year, with net income of $7.8 million and Adjusted EBITDA of $11.4 million, reflecting higher lymphedema product sales and improved profitability.

What were Tactile Systems Technology (TCMD) results for the first six months of 2026?

For the first half of 2026, Tactile Systems Technology generated $161.0 million in revenue, up 15%, with net income of $6.0 million and Adjusted EBITDA of $15.1 million, more than doubling Adjusted EBITDA versus the same period in 2025.

What is Tactile Systems Technology (TCMD) 2026 revenue and Adjusted EBITDA guidance?

The company expects 2026 revenue of $360–$366 million, implying 9–11% growth over $329.5 million in 2025, and Adjusted EBITDA of $49–$51 million, up from $44.8 million in 2025, maintaining its profitability outlook.

How strong is Tactile Systems Technology’s (TCMD) balance sheet?

As of June 30, 2026, the company held $69.9 million in cash and had no outstanding borrowings under its credit agreement, supporting ongoing investments, acquisitions and share repurchases under its $25.0 million program.

What drove Tactile Systems Technology’s (TCMD) revenue growth in Q2 2026?

Q2 2026 growth was led by a 12% increase in lymphedema product revenue, partially offset by a 7% decline in airway clearance products related to temporary inventory management dynamics around the next-generation AffloVest launch.

How much stock did Tactile Systems Technology (TCMD) repurchase in Q2 2026?

During Q2 2026, the company repurchased $5.3 million of its stock. As of June 30, 2026, $18.7 million remained available under its $25.0 million share repurchase program, which expires November 3, 2027.

0001027838false00010278382026-08-102026-08-10

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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) August 10, 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. ☐

​

​

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Item 2.02. Results of Operations and Financial Condition.

​

On August 10, 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.

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Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

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EXHIBIT INDEX

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Exhibit No.				Description
​		​		​
99.1			Press Release dated August 10, 2026 (Earnings Release)
104	​		Cover Page Interactive Data File (embedded within the Inline XBRL document)
​		​		​

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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: August 10, 2026		By:	/s/ Elaine M. Birkemeyer
			Elaine M. Birkemeyer
			Chief Financial Officer

​

​

​

​

Exhibit 99.1

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

MINNEAPOLIS, MN, August 10th, 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 second quarter ended June 30, 2026.

Second Quarter 2026 Summary and Recent Business Highlights:

● Total revenue increased 9% year-over-year to $85.7 million

● Gross margin expanded to 76% from 75% in Q2 2025

● Net income increased to $7.8 million from $3.2 million in Q2 2025

● Adjusted EBITDA increased to $11.4 million from $7.7 million in Q2 2025

● Entered into an exclusive U.S. distribution agreement with ElastiMed, Inc. to distribute the MyoSleeve™ Wearable Compression Device to Veterans and active-duty service members and their dependents

● Commercially launched the next-generation AffloVest Airway Clearance Therapy system

● Repurchased $5.3 million of stock under the Company’s share repurchase program

● Publication of six-month clinical results from the Company's randomized controlled trial evaluating Flexitouch® Plus for the treatment of head and neck cancer-related lymphedema

​

“We are encouraged by our strong momentum in the second quarter. We delivered solid revenue growth, expanded gross margin, and generated meaningful adjusted EBITDA, underscoring the strength of our business model and our team’s disciplined execution,” said Sheri Dodd, Chief Executive Officer of Tactile Medical. “Our core lymphedema business remains healthy and our view of the long-term opportunity for AffloVest to be a leading high frequency chest wall oscillation technology therapy is unchanged despite the impact of a temporary inventory management dynamic related to the launch of our next-generation AffloVest system during the quarter.”

​

Ms. Dodd continued, “Operationally, we made tangible progress furthering our broader strategy. We advanced integration activities for LymphaTech, which expands our portfolio across the lymphedema care continuum, launched our next-generation AffloVest system, and secured exclusive Department of Veterans Affairs and Department of Defense distribution rights for MyoSleeve. These product and capability investments strengthen and broaden our patient reach and market expansion, enabling diagnostic and therapy options for patients and providers.  With a clear growth and leverage strategy and a differentiated portfolio, we believe Tactile Medical is well-positioned for sustainable, profitable growth in the years ahead.”

​

Second Quarter 2026 Financial Results

Total revenue in the second quarter of 2026 increased $6.8 million, or 9%, to $85.7 million, compared to $78.9 million in the second quarter of 2025. The increase in total revenue was attributable to an increase of $7.7 million, or 12%, in sales and rentals of the lymphedema product line, partially offset by a decrease of $0.9 million, or 7%, in sales of the airway clearance product line, due to temporary inventory management dynamics associated with the launch of the Company’s next-generation AffloVest system among a few large DME providers during the quarter.

Gross profit in the second quarter of 2026 increased $6.6 million, or 11%, to $65.3 million, compared to $58.8 million in the second quarter of 2025. Gross margin was 76% of revenue, compared to 75% of revenue in the second quarter of 2025. Gross margin improvement reflected continued operating execution and product cost discipline.

Operating expenses in the second quarter of 2026 increased $3.8 million, or 7%, to $58.5 million, compared to $54.7 million in the second quarter of 2025. The increase primarily reflected continued investments to support long-term growth initiatives.

Operating income was $6.8 million in the second quarter of 2026, compared to $4.1 million in the second quarter of 2025.

Income tax benefit was $0.4 million in the second quarter of 2026, compared to an income tax expense of $1.3 million in the second quarter of 2025.

Net income in the second quarter of 2026 was $7.8 million, or $0.34 per diluted share, compared to $3.2 million, or $0.14 per diluted share, in the second quarter of 2025.

Weighted average shares used to compute diluted net income per share were 23.1 million and 23.2 million for the second quarters of 2026 and 2025, respectively.

Adjusted EBITDA was $11.4 million in the second quarter of 2026, compared to $7.7 million in the second quarter of 2025, reflecting revenue growth, gross margin expansion and disciplined expense management.

First Six Months 2026 Financial Results

Total revenue for the six months ended June 30, 2026, increased $20.8 million, or 15%, to $161.0 million, compared to $140.2 million for the six months ended June 30, 2025. The increase in total revenue was attributable to an increase of $19.3 million, or 17%, in sales and rentals of the lymphedema product line and an increase of $1.5 million, or 6%, in sales of the airway clearance product line for the six months ended June 30, 2026, compared to the six months ended June 30, 2025.

Net income for the six months ended June 30, 2026, was $6.0 million, or $0.26 per diluted share, compared to $0.2 million, or $0.01 per diluted share, for the six months ended June 30, 2025.

Weighted average shares used to compute diluted net income per share were 23.1 million and 23.7 million for the six months ended June 30, 2026 and 2025, respectively.

Adjusted EBITDA was $15.1 million in the six months ended June 30, 2026, compared to $7.4 million in the six months ended June 30, 2025.

Balance Sheet Summary

As of June 30, 2026, the Company had $69.9 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 $5.3 million of its stock during the second quarter under its repurchase program. As of June 30, 2026, $18.7 million remained available under the Company’s $25.0 million share repurchase program, which expires November 3, 2027.

2026 Financial Outlook

The Company is updating its 2026 financial outlook and now expects 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’s prior 2026 guidance expectation was total revenue in the range of $360 million to $368 million, representing growth of approximately 9% to 12% year-over-year.

The Company continues to expect full year 2026 adjusted EBITDA in the range of $49 million to $51 million, compared to adjusted EBITDA of $44.8 million in 2025.

The revised revenue outlook reflects continued confidence in the Company's lymphedema product line, partially offset by a more conservative view of airway clearance product line ordering patterns as certain DME providers work through near-term elevated inventory levels related to the launch of the Company’s next-generation AffloVest system.

Conference Call

Management will host a conference call with a question-and-answer session at 5:00 p.m. Eastern Time on August 10, 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 13761142. 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 13761142. 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 SEC. Investors and security holders are urged to read these documents 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, and plus acquisition and integration costs. 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 our 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 presentation. 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.

Investor Inquiries:

Sam Bentzinger

Gilmartin Group

investorrelations@tactilemedical.com

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Tactile Systems Technology, Inc.
Condensed Consolidated Balance Sheets
(Unaudited)
​	​ ​ ​	June 30,		​ ​ ​	December 31,
(In thousands, except share and per share data)	​ ​ ​	2026		​ ​ ​	2025
Assets	​	​		​	​	​
Current assets	​	​	​	​	​	​
Cash	​	$	69,853	​	$	83,446
Accounts receivable, net	​		43,140	​		43,876
Net investment in leases	​		14,927	​		15,754
Inventories	​		16,845	​		14,025
Income taxes receivable	​		912	​		—
Prepaid expenses and other current assets	​		11,925	​		8,066
Total current assets	​		157,602	​		165,167
Non-current assets	​	​	​	​	​	​
Property and equipment, net	​		5,849	​		5,117
Right of use operating lease assets	​		12,553	​		13,798
Intangible assets, net	​		44,747	​		39,167
Goodwill	​	​	39,554	​	​	31,063
Deferred income taxes	​		8,703	​		9,783
Other non-current assets	​		10,660	​		9,847
Total non-current assets	​		122,066	​		108,775
Total assets	​	$	279,668	​	$	273,942
Liabilities and Stockholders' Equity	​	​	​	​	​	​
Current liabilities	​	​	​	​	​	​
Accounts payable	​	$	7,923	​	$	4,968
Accrued payroll and related taxes	​		15,615	​		19,378
Accrued expenses	​		8,423	​		8,531
Income taxes payable	​		—	​		1,428
Operating lease liabilities	​		3,095	​		3,195
Other current liabilities	​		3,197	​		3,457
Total current liabilities	​		38,253	​		40,957
Non-current liabilities	​	​	​	​	​	​
Accrued warranty reserve, non-current	​		1,079	​		1,045
Income taxes payable, non-current	​		370	​		275
Operating lease liabilities, non-current	​	​	11,267	​		12,763
Other non-current liabilities	​	​	4,863	​	​	—
Total non-current liabilities	​		17,579	​		14,083
Total liabilities	​		55,832	​		55,040
Stockholders’ equity:	​	​	​	​	​	​
Preferred stock, $0.001 par value, 50,000,000 shares authorized; none issued and outstanding as of June 30, 2026 and December 31, 2025	​		—	​		—
Common stock, $0.001 par value, 300,000,000 shares authorized; 22,701,241 shares issued and outstanding as of June 30, 2026; 22,438,926 shares issued and outstanding as of December 31, 2025	​		23	​		22
Additional paid-in capital	​		162,851	​		163,940
Retained earnings	​		60,962	​		54,940
Total stockholders’ equity	​		223,836	​		218,902
Total liabilities and stockholders’ equity	​	$	279,668	​	$	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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Six Months Ended

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June 30,

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June 30,

(In thousands, except share and per share data)

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2026

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2025

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2026

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2025

Revenue

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Sales revenue

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$

76,489

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$

70,531

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$

143,455

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$

123,000

Rental revenue

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9,209

​

8,374

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17,510

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17,173

Total revenue

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85,698

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78,905

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160,965

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140,173

Cost of revenue

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​

Cost of sales revenue

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17,628

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17,483

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32,887

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31,374

Cost of rental revenue

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2,721

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2,629

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5,115

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4,660

Total cost of revenue

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20,349

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20,112

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38,002

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36,034

Gross profit

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​

​

​

Gross profit - sales revenue

​

58,861

​

53,048

​

110,568

​

91,626

Gross profit - rental revenue

​

6,488

​

5,745

​

12,395

​

12,513

Gross profit

​

65,349

​

58,793

​

122,963

​

104,139

Operating expenses

​

​

​

​

​

​

​

​

​

​

​

​

Sales and marketing

​

32,012

​

30,039

​

64,744

​

57,555

Research and development

​

2,501

​

2,018

​

5,277

​

3,759

Reimbursement, general and administrative

​

23,360

​

22,034

​

46,404

​

42,032

Intangible asset amortization and earn-out

​

​

650

​

​

619

​

​

1,246

​

​

1,252

Total operating expenses

​

58,523

​

54,710

​

117,671

​

104,598

Income (loss) from operations

​

6,826

​

4,083

​

5,292

​

(459)

Interest income

​

​

561

​

​

850

​

​

1,227

​

​

1,745

Interest expense

​

​

(19)

​

​

(410)

​

​

(47)

​

​

(834)

Other income

​

—

​

1

​

—

​

1

Income before income taxes

​

7,368

​

4,524

​

6,472

​

453

Income tax (benefit) expense

​

(417)

​

1,307

​

450

​

210

Net income

​

$

7,785

​

$

3,217

​

$

6,022

​

$

243

Net income per common share

​

​

​

​

​

​

​

​

​

​

​

​

Basic

​

$

0.34

​

$

0.14

​

$

0.27

​

$

0.01

Diluted

​

$

0.34

​

$

0.14

​

$

0.26

​

$

0.01

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

​

​

​

​

​

​

​

​

​

​

​

​

Basic

​

​

22,676,673

​

​

23,092,469

​

​

22,620,546

​

​

23,399,848

Diluted

​

​

23,058,902

​

​

23,237,671

​

​

23,135,040

​

​

23,679,220

​

​

​

​

​

​	​	​	​	​	​	​
Tactile Systems Technology, Inc.
Condensed Consolidated Statements of Cash Flows
(Unaudited)
​	​	​
​	​	Six Months Ended June 30,
(In thousands)	​ ​ ​	2026		​ ​ ​	2025
Cash flows from operating activities	​	​	​	​	​	​
Net income	​	$	6,022	​	$	243
Adjustments to reconcile net income to net cash provided by operating activities:	​	​	​	​	​	​
Depreciation and amortization	​	​	3,450	​	​	3,385
Deferred income taxes	​	​	42	​	​	(22)
Stock-based compensation expense	​	​	4,040	​	​	4,005
Loss on disposal of property and equipment and intangibles	​	​	73	​	​	68
Changes in assets and liabilities, net of acquisition:	​	​	​	​	​	​
Accounts receivable, net	​	​	755	​	​	11,851
Net investment in leases	​	​	827	​	​	83
Inventories	​	​	(2,820)	​	​	1,555
Income taxes payable	​	​	(2,245)	​	​	(611)
Prepaid expenses and other assets	​	​	(5,174)	​	​	(4,735)
Right of use operating lease assets	​	​	(351)	​	​	(289)
Accounts payable	​	​	2,886	​	​	2,319
Accrued payroll and related taxes	​	​	(3,763)	​	​	(5,245)
Accrued expenses and other liabilities	​	​	(827)	​	​	2,567
Net cash provided by operating activities	​	​	2,915	​	​	15,174
Cash flows from investing activities	​	​	​	​	​	​
Payments related to acquisition, net of cash acquired	​	​	(6,226)	​	​	—
Purchases of property and equipment	​	​	(2,102)	​	​	(748)
Intangible assets expenditures	​	​	(52)	​	​	(56)
Payment for exclusive distribution agreement	​	​	(3,000)	​	​	—
Net cash used in investing activities	​	​	(11,380)	​	​	(804)
Cash flows from financing activities	​	​	​	​	​	​
Payments on note payable	​	​	—	​	​	(1,500)
Proceeds from exercise of common stock options	​	​	197	​	​	10
Proceeds from the issuance of common stock from the employee stock purchase plan	​	​	1,032	​	​	843
Payments for repurchases of common stock	​	​	(6,357)	​	​	(26,562)
Net cash used in financing activities	​	​	(5,128)	​	​	(27,209)
Net decrease in cash	​	​	(13,593)	​	​	(12,839)
Cash – beginning of period	​	​	83,446	​	​	94,367
Cash – end of period	​	$	69,853	​	$	81,528
​	​	​	​	​	​	​
Supplemental cash flow disclosure	​	​	​	​	​	​
Cash paid for interest	​	$	34	​	$	828
Cash paid for taxes	​	$	2,645	​	$	892
Accrued excise tax on stock repurchases	​	$	—	​	$	210
Capital expenditures incurred but not yet paid	​	$	147	​	$	58

​

​

​

​

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

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended

​

Six Months Ended

​

​

June 30,

​

June 30,

(In thousands)

​ ​ ​

2026

​

2025

​

2026

​

2025

Revenue

​

​

​

​

​

​

​

​

​

​

​

​

Lymphedema products

​

$

73,630

​

$

65,969

​

$

135,851

​

$

116,524

Airway clearance products

​

​

12,068

​

​

12,936

​

​

25,114

​

​

23,649

Total

​

$

85,698

​

$

78,905

​

$

160,965

​

$

140,173

​

​

​

​

​

​

​

​

​

​

​

​

​

Percentage of total revenue

​

​

​

​

​

​

​

​

​

​

​

​

Lymphedema products

​

86%

​

84%

​

84%

​

83%

Airway clearance products

​

​

14%

​

​

16%

​

​

16%

​

​

17%

Total

​

100%

​

100%

​

100%

​

100%

​

The following table contains a reconciliation of net income to Adjusted EBITDA for the three and six months ended June 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

​

Six Months Ended

​

Increase

​

​

June 30,

​

(Decrease)

​

June 30,

​

(Decrease)

(Dollars in thousands)

​ ​ ​

2026

​ ​ ​

2025

​ ​ ​

$

​ ​ ​

%

​ ​ ​

2026

​ ​ ​

2025

​

$

​ ​ ​

%

Net income

$

7,785

​

$

3,217

​

$

4,568

142

%

​

$

6,022

​

$

243

​

$

5,779

N.M.

%

Interest (income) expense, net

​

​

(542)

​

​

(440)

​

​

(102)

23

%

​

​

(1,180)

​

​

(911)

​

​

(269)

30

%

Income tax (benefit) expense

​

​

(417)

​

​

1,307

​

​

(1,724)

(132)

%

​

​

450

​

​

210

​

​

240

114

%

Depreciation and amortization

​

​

1,811

​

​

1,659

​

​

152

9

%

​

​

3,450

​

​

3,385

​

​

65

2

%

Stock-based compensation

​

​

2,260

​

​

1,939

​

​

321

17

%

​

​

4,040

​

​

4,005

​

​

35

1

%

Acquisition & integration costs

​

​

156

​

​

—

​

​

156

​

—

%

​

​

973

​

​

—

​

​

973

​

—

%

Litigation-related costs

​

​

—

​

​

—

​

​

—

​

—

%

​

​

1,000

​

​

—

​

​

1,000

​

—

%

Executive transition costs

​

​

360

​

​

—

​

​

360

​

—

%

​

​

360

​

​

491

​

​

(131)

​

(27)

%

Adjusted EBITDA

​

$

11,413

​

$

7,682

​

$

3,731

49

%

​

$

15,115

​

$

7,423

​

$

7,692

104

%

“N.M.” Not Meaningful

​

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 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		$	23,230	​	$	24,670
Interest (income) expense, net	​	​	(2,380)	​	​	(2,380)
Income tax expense	​	​	9,420	​	​	9,980
Depreciation and amortization	​	​	7,510	​	​	7,510
Stock-based compensation	​	​	8,550	​	​	8,550
Acquisition & integration costs	​	​	1,310	​	​	1,310
Executive transition costs	​	​	360	​	​	360
Litigation-related costs	​	​	1,000	​	​	1,000
Adjusted EBITDA	​	$	49,000	​	$	51,000

​

Investor Inquiries:

Sam Bentzinger

Gilmartin Group

investorrelations@tactilemedical.com

Filing Exhibits & Attachments

5 documents

Press Releases

• EX-99.1 EX-99.1 608.9 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