E
Electromed, Inc.
ELMDCIK 0001488917NYSENon-AcceleratedSmaller ReportingElectromedical & Electrotherapeutic ApparatusMinnesotaFY ends Jun 30
Period
FY 2025
Revenue
$64.00M
Net Income
$7.54M
Total Assets
$53.80M
Equity
$43.21M
Shares Out
8.28M
Op. Cash Flow
$11.39M
Business
Electromed, Inc. develops, manufactures, markets and sells airway clearance therapy systems that deliver high frequency chest wall oscillation (HFCWO) to patients with compromised pulmonary function. Its main products include the SmartVest System family—programmable air pulse generators, inflatable therapy garments (vests and wraps), single-hose connectors, and single-patient-use hospital products—along with patient education, training, reimbursement and support services. The company operates through direct-to-patient and provider sales alongside limited HME distributor arrangements and an acute care hospital offering. Electromed sells primarily into the U.S. homecare market via physician referrals, pulmonology clinics, CF and neuromuscular centers, and also distributes internationally through independent distributors in select regions.
Summary from filing dated 2025-08-26
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-06-30 | FY 2024 2024-06-30 | FY 2023 2023-06-30 | FY 2022 2022-06-30 | FY 2021 2021-06-30 |
|---|---|---|---|---|---|---|
| Net revenues | 64 | 55 | — | — | — | |
| Cost of revenues | 14 | 13 | 12 | 10 | 8 | |
| Gross profit | 50 | 42 | 37 | 31 | 27 | |
| Selling, general and administrative | 39 | 34 | 32 | 27 | 22 | |
| Research and development | 996,000 | 656,000 | 916,000 | 1 | 2 | |
| Total operating expenses | 40 | 35 | 33 | 28 | 24 | |
| Operating income | 10 | 7 | 4 | 3 | 3 | |
| Interest income, net | 624,000 | 455,000 | — | — | — | |
| Net income before income taxes | 10 | 7 | 4 | 3 | 3 | |
| Income tax expense | 3 | 2 | 920,000 | 692,000 | 805,000 | |
| Net income | 8 | 5 | 3 | 2 | 2 | |
| Basic (in dollars per share) | 0.89 | 0.6 | 0.37 | 0.27 | 0.28 | |
| Diluted (in dollars per share) | 0.85 | 0.58 | 0.36 | 0.26 | 0.27 | |
| Basic (in shares) | 8 | 9 | 8 | 8 | 9 | |
| Diluted (in shares) | 9 | 9 | 9 | 9 | 9 |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-06-30 | FY 2024 2024-06-30 | FY 2023 2023-06-30 | FY 2022 2022-06-30 | FY 2021 2021-06-30 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 15 | 16 | 7 | 8 | 12 | |
| Accounts receivable (net of allowances for credit losses of $45,000) | 25 | 23 | 24 | 21 | 17 | |
| Contract assets | 1 | 719,000 | 487,000 | 286,000 | 393,000 | |
| Inventories | 3 | 4 | 4 | 3 | 2 | |
| Prepaid expenses and other current assets | 392,000 | 329,000 | 2 | 2 | 276,000 | |
| Income tax receivable | 408,000 | 0 | — | — | — | |
| Total current assets | 45 | 44 | 38 | 35 | 32 | |
| Net property and equipment | 5 | 5 | 6 | 5 | 4 | |
| Finite-life intangible assets, net | 371,000 | 657,000 | 605,000 | 599,000 | 663,000 | |
| Other Assets, Noncurrent | 1 | 87,000 | 161,000 | 120,000 | 88,000 | |
| Deferred income taxes | 2 | 2 | 2 | 2 | 1 | |
| Total assets | 54 | 52 | 46 | 41 | 37 | |
| Accounts payable | 3 | 1 | 1 | 1 | 685,000 | |
| Accrued compensation | 5 | 4 | 3 | 3 | 2 | |
| Income tax payable | 0 | 277,000 | 336,000 | 51,000 | 288,000 | |
| Warranty reserve | 2 | 2 | — | — | — | |
| Other Accrued Liabilities, Current | 1 | 930,000 | — | — | — | |
| Total current liabilities | 10 | 8 | 8 | 7 | 5 | |
| Other long-term liabilities | 125,000 | 12,000 | — | — | — | |
| Total liabilities | 11 | 8 | 8 | 7 | 5 | |
| Common stock, $0.01 par value per share, 13,000,000 shares authorized; 8,349,176 and 8,637,883 shares issued and outstanding, as of June 30, 2025, and June 30, 2024, respectively | 83,000 | 87,000 | 86,000 | 85,000 | 85,000 | |
| Additional paid-in capital | 22 | 21 | 19 | 18 | 17 | |
| Retained earnings | 21 | 24 | 19 | 16 | 15 | |
| Total shareholders equity | 43 | 45 | 38 | 34 | 32 | |
| Total liabilities and shareholders equity | 54 | 52 | 46 | 41 | 37 |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-06-30 | FY 2024 2024-06-30 | FY 2023 2023-06-30 | FY 2022 2022-06-30 | FY 2021 2021-06-30 |
|---|---|---|---|---|---|---|
| Depreciation | 1 | 789,000 | 550,000 | 503,000 | 477,000 | |
| Impairment of intangible assets | 212,000 | 0 | — | — | — | |
| Amortization of finite-life intangible assets | 133,000 | 52,000 | 63,000 | 125,000 | 133,000 | |
| Share-based compensation expense | 3 | 2 | 708,000 | 976,000 | 1 | |
| Deferred income taxes | −310,000 | −571,000 | −43,000 | −489,000 | −294,000 | |
| Accounts receivable | −1 | 797,000 | −3 | −4 | −4 | |
| Contract assets | −317,000 | −232,000 | −201,000 | 107,000 | 510,000 | |
| Inventories | 175,000 | 459,000 | −1 | −1 | 971,000 | |
| Prepaid expenses and other assets | −959,000 | 1 | — | — | 151,000 | |
| Income tax receivable, net | −685,000 | −59,000 | — | — | — | |
| Accounts payable and accrued liabilities | 2 | −1 | 420,000 | 2 | 214,000 | |
| Accrued compensation | 1 | 875,000 | — | — | — | |
| Net cash provided by operating activities | 11 | 9 | 1 | −686,000 | 3 | |
| Expenditures for property and equipment | −262,000 | −287,000 | −2 | −1 | −287,000 | |
| Expenditures for finite-life intangible assets | −44,000 | −108,000 | −68,000 | −100,000 | −161,000 | |
| Net cash used for investing activities | −306,000 | −395,000 | −2 | −2 | −448,000 | |
| Issuance of common stock upon exercise of options | 398,000 | 311,000 | — | — | — | |
| Taxes paid on net share settlement of stock awards | −2 | 0 | −310,000 | −77,000 | −141,000 | |
| Repurchase of common stock | −10 | −275,000 | −153,000 | −1 | −1 | |
| Net cash (used for) provided by financing activities | −12 | 36,000 | −380,000 | −2 | −1 | |
| Net (decrease) increase in cash | −793,000 | 9 | −781,000 | −4 | 1 | |
| Cash paid for income taxes | 4 | 3 | 676,000 | 1 | 534,000 | |
| Property and equipment and intangible asset acquisitions in accounts payable | 107,000 | 4,000 | — | — | — | |
| Taxes owed on net share settlement of stock awards in accrued liabilities | 27,000 | 0 | — | — | — | |
| Demonstration equipment transferred between inventory and property and equipment | 238,000 | 50,000 | — | — | — | |
| Issuance of common stock upon the vesting of performance-based stock units | 1,000 | 0 | — | — | — |
Filings
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