Tactile Systems Technology, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 07, 2023 at 10:04 pm
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Tactile Systems Technology, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 68.34 million compared to USD 59.65 million a year ago. Revenue was USD 68.34 million compared to USD 59.65 million a year ago. Net loss was USD 0.1 million compared to USD 4.64 million a year ago.
For the six months, sales was USD 127.19 million compared to USD 107.62 million a year ago. Revenue was USD 127.19 million compared to USD 107.62 million a year ago. Net loss was USD 1.99 million compared to USD 20.21 million a year ago. Basic loss per share from continuing operations was USD 0.09 compared to USD 1.01 a year ago. Diluted loss per share from continuing operations was USD 0.09 compared to USD 1.01 a year ago.
Tactile Systems Technology, Inc., doing business as Tactile Medical, is a medical technology company providing therapies for people with chronic disorders. The Company's areas of therapeutic focus are vascular disease, oncology and providing airway clearance therapy for those suffering from chronic respiratory conditions. It is developing and marketing at-home therapies for people suffering from underserved, chronic conditions including lymphedema, lipedema, chronic venous insufficiency and chronic pulmonary disease. It markets Flexitouch Plus and Entre Plus systems as at-home therapies for the treatment of lymphedema and chronic venous insufficiency. The Company markets AffloVest as an at-home therapy intended to promote airway clearance. Its Flexitouch Plus system is a fully automated, programmable, advanced pneumatic compression device. The Company's Entre system is a basic pneumatic compression device. Kylee, its free mobile application, helps patients learn about lymphedema.