TACTILE SYSTEMS TECHNOLOGY INC

Listed Company

TCMDCIK 0001027838NasdaqAcceleratedSurgical & Medical Instruments & ApparatusMinnesotaFY ends Dec 31

Period

FY 2025

Revenue

$329.52M

Net Income

$19.09M

Total Assets

$273.94M

Equity

$218.90M

Shares Out

22.44M

Op. Cash Flow

$42.81M

Business

Tactile Systems Technology Inc is a medical technology company that develops and provides at-home medical devices for the treatment of underserved chronic diseases. It offers advanced pneumatic compression systems (Flexitouch Plus, Entre Plus, Nimbl) for lymphedema and chronic venous insufficiency and the AffloVest wearable high-frequency chest wall oscillation vest for airway clearance. Its operations include direct-to-patient and direct-to-provider lymphedema sales, a DME distribution channel for respiratory products, and supporting functions for reimbursement, clinical evidence and patient training. The company markets and distributes its products nationally across the United States through a combination of direct sales, DME partners and payer networks.

Summary from filing dated 2025-02-18

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total revenue	330	293	274	247	208
Total cost of revenue	79	76	79	71	60
Gross profit	250	217	195	176	148
Sales and marketing	121	112	107	106	87
Research and development	8	9	8	7	6
Reimbursement, general and administrative	89	71	62	61	57
Intangible asset amortization and earn-out	2	3	76,000	14	739,000
Total operating expenses	221	195	177	189	150
Income from operations	29	22	18	−13	−2
Interest income	3	3	2	60,000	—
Interest expense	−1	−2	−4	−3	—
Other income	1,000	9,000	2,000	13,000	—
Income before income taxes	31	23	16	−15	−2
Income tax expense (benefit)	12	7	−13	2	10
Net income	19	17	29	−18	−12
Basic (in dollars per share)	0.83	0.71	1.24	−0.89	−0.6
Diluted (in dollars per share)	0.82	0.7	1.23	−0.89	−0.6
Basic (in shares)	23	24	23	20	20
Diluted (in shares)	23	24	23	20	20

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash	83	94	61	22	28
Accounts receivable, net	44	45	43	55	49
Net investment in leases	16	15	14	16	12
Inventories	14	19	23	23	19
Prepaid expenses and other current assets	8	5	4	4	4
Total current assets	165	178	145	120	114
Property and equipment, net	5	6	6	6	7
Right of use operating lease assets	14	17	19	21	24
Intangible assets, net	39	43	47	50	54
Goodwill	31	31	31	31	31
Deferred income taxes	10	18	19	—	—
Other non-current assets	10	6	3	3	2
Total non-current assets	109	120	136	135	131
Total assets	274	298	281	255	244
Accounts payable	5	6	7	10	5
Note payable	—	3	3	3	3
Accrued payroll and related taxes	19	18	17	17	12
Accrued expenses	9	8	6	9	5
Income taxes payable	1	270,000	1	2	16,000
Operating lease liabilities	3	3	3	3	3
Other current liabilities	3	3	4	7	3
Total current liabilities	41	41	41	64	34
Note payable, non-current	—	23	26	21	27
Accrued warranty reserve, non-current	1	1	2	2	3
Income taxes payable, non-current	275,000	239,000	446,000	298,000	348,000
Operating lease liabilities, non-current	13	16	18	21	23
Total non-current liabilities	14	41	47	69	82
Total liabilities	55	81	88	134	116
Preferred stock, $0.001 par value, 50,000,000 shares authorized; none issued and outstanding as of December 31, 2025 and December 31, 2024	—	—	—	—	—
Common stock, $0.001 par value, 300,000,000 shares authorized; 22,438,926 shares issued and outstanding as of December 31, 2025; 23,883,475 shares issued and outstanding as of December 31, 2024	22,000	24,000	24,000	20,000	20,000
Additional paid-in capital	164	181	175	131	120
Retained earnings	55	36	19	−10	8
Total stockholders' equity	219	217	194	121	128
Total liabilities and stockholders' equity	274	298	281	255	244

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net income	19	17	29	−18	−12
Depreciation and amortization	7	7	7	6	4
Deferred income taxes	9	1	−19	−32,000	—
Stock-based compensation expense	8	8	8	10	10
Loss on disposal of property and equipment and intangibles	78,000	308,000	3,000	20,000	20,000
Change in fair value of earn-out liability	—	—	−2	12	−200,000
Accounts receivable, net	1	−2	12	−5	−6
Net investment in leases	−1	−345,000	2	−4	−2
Inventories	5	4	597,000	−4	972,000
Income taxes payable	1	−1	−721,000	2	−2
Prepaid expenses and other assets	−7	−4	72,000	−950,000	−1
Right of use operating lease assets	−142,000	187,000	71,000	168,000	614,000
Accounts receivable, non-current	—	11	12	−10	−3
Accounts payable	−758,000	−1	−4	5	826,000
Accrued payroll and related taxes	1	1	−311,000	5	551,000
Accrued expenses and other liabilities	780,000	120,000	−6	7	2
Net cash provided by operating activities	43	41	36	5	3
Purchases of property and equipment	−2	−2	−2	−2	−2
Proceeds from sale of property and equipment	—	12,000	—	11,000	—
Intangible assets expenditures	−155,000	−117,000	−157,000	−140,000	−252,000
Net cash used in investing activities	−3	−2	−2	−2	−82
Proceeds from issuance of note payable	—	—	8	—	30
Payments on earn-out	—	—	−11	−5	—
Payments on note payable	−26	−3	−3	−6	—
Payments on revolving line of credit	—	—	−25	—	—
Payments of deferred debt issuance costs	—	—	−125,000	−39,000	−188,000
Proceeds from exercise of common stock options	222,000	24,000	14,000	153,000	4
Proceeds from the issuance of common stock from the employee stock purchase plan	1	2	2	1	2
Payments for repurchases of common stock	−27	−4	—	—	—
Proceeds from issuance of common stock at market	—	—	35	1	2
Net cash (used in) provided by financing activities	−51	−5	6	−10	60
Net (decrease) increase in cash	−11	33	39	−6	−20
Cash paid for interest	1	2	5	2	130,000
Cash paid for taxes	3	7	7	44,000	2
Accrued excise tax on stock repurchases	191,000	—	—	—	—
Capital expenditures incurred but not yet paid	78,000	76,000	528,000	38,000	23,000

Filings

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