Tactile Systems Technology, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2022
February 21, 2023 at 07:04 am EST
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Tactile Systems Technology, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2022. For the fourth quarter, the company reported sales was USD 73.9 million compared to USD 61.73 million a year ago. Revenue was USD 73.9 million compared to USD 61.73 million a year ago. Net income was USD 4.62 million compared to net loss of USD 7.5 million a year ago. Basic earnings per share from continuing operations was USD 0.23 compared to basic loss per share from continuing operations of USD 0.38 a year ago. Diluted earnings per share from continuing operations was USD 0.23 compared to diluted loss per share from continuing operations of USD 0.38 a year ago.
For the full year, sales was USD 246.79 million compared to USD 208.06 million a year ago. Revenue was USD 246.79 million compared to USD 208.06 million a year ago. Net loss was USD 17.87 million compared to USD 11.81 million a year ago. Basic loss per share from continuing operations was USD 0.89 compared to USD 0.6 a year ago. Diluted loss per share from continuing operations was USD 0.89 compared to USD 0.6 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.