TCMD

MKT CAP:$566M

Tactile Systems Technology, Inc.

Market Cap

$566M

Healthcare·Medical - Devices·🇺🇸 United States·NASDAQ

Healthcare·Medical - Devices·🇺🇸·NASDAQ

Stock Price

$24.96-$2.44 (-8.91%)

Apr 22, 2026

Company Details

Tactile Systems Technology, Inc., a medical technology company, engages in the development and provision of medical devices for chronic diseases in the United States. The company offers Flexitouch Plus system, a pneumatic compression device...

CEO

Sheri Louise Dodd

IPO Date

Jul 28, 2016

Website

www.tactilemedical.com

Key Metrics TTM

Revenue

$330M

+12.5% YoY

Net Income

$19M

EPS (Diluted)

$0.83

Free Cash Flow

$40M

Revenue / Share

$14.30

Gross Margin

75.2%

Operating Margin

8.9%

Net Margin

5.8%

FCF Margin

12.3%

P/S

1.7x

P/E

29.6x

Earnings Reports

Q1 2026

May 4, 2026

PENDING

Q4 2025

Feb 17, 2026

$104M+21.0%EPS $0.46

Q3 2025

Nov 3, 2025

$86M+17.3%EPS $0.36

Q2 2025

Aug 4, 2025

$79M+7.8%EPS $0.14

Q1 2025

May 5, 2025

$61M+0.3%EPS -$0.13

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$48M	$34M	-$15M
Q2 22	$60M	$43M	-$4M
Q3 22	$65M	$47M	-$2M
Q4 22	$74M	$52M	$8M
Q1 23	$59M	$41M	-$4M
Q2 23	$68M	$48M	$2M
Q3 23	$70M	$49M	$8M
Q4 23	$78M	$56M	$12M
Q1 24	$61M	$43M	-$3M
Q2 24	$73M	$54M	$6M
Q3 24	$73M	$54M	$7M
Q4 24	$86M	$64M	$13M
Q1 25	$61M	$45M	-$5M
Q2 25	$79M	$59M	$4M
Q3 25	$86M	$65M	$11M
Q4 25	$104M	$79M	$19M

Valuation

Quarter	P/S	P/E
Q1 22	1.7x	—
Q2 22	0.7x	—
Q3 22	0.7x	—
Q4 22	1.1x	—
Q1 23	1.5x	—
Q2 23	2.1x	1606.2x
Q3 23	1.2x	13.1x
Q4 23	1.2x	11.8x
Q1 24	1.3x	13.1x
Q2 24	1.0x	8.3x
Q3 24	1.2x	22.6x
Q4 24	1.4x	24.4x
Q1 25	1.1x	19.6x
Q2 25	0.8x	15.9x
Q3 25	1.0x	17.6x
Q4 25	2.1x	35.4x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	-$3M	-$3M
Q2 22	$2M	$2M
Q3 22	$2M	$826.0K
Q4 22	$4M	$4M
Q1 23	-$502.0K	-$793.0K
Q2 23	$14M	$13M
Q3 23	$4M	$4M
Q4 23	$18M	$17M
Q1 24	$924.0K	$422.0K
Q2 24	$13M	$13M
Q3 24	$10M	$9M
Q4 24	$16M	$16M
Q1 25	$417.0K	$10.0K
Q2 25	$15M	$14M
Q3 25	$10M	$9M
Q4 25	$17M	$17M

Capital Expenditures

Quarter	CapEx
Q1 22	$175.0K
Q2 22	$241.0K
Q3 22	$1M
Q4 22	$76.0K
Q1 23	$291.0K
Q2 23	$851.0K
Q3 23	$399.0K
Q4 23	$940.0K
Q1 24	$502.0K
Q2 24	$537.0K
Q3 24	$978.0K
Q4 24	$492.0K
Q1 25	$407.0K
Q2 25	$369.0K
Q3 25	$1M
Q4 25	$510.0K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+12.2%	+34.2%
Q2 22	+16.8%	+24.6%
Q3 22	+24.3%	+24.2%
Q4 22	+19.7%	+14.0%
Q1 23	+22.7%	-0.4%
Q2 23	+14.6%	+4.0%
Q3 23	+6.6%	-7.9%
Q4 23	+5.1%	-0.3%
Q1 24	+3.8%	+2.2%
Q2 24	+7.1%	+1.6%
Q3 24	+5.0%	+7.7%
Q4 24	+10.2%	+11.0%
Q1 25	+0.3%	+2.7%
Q2 25	+7.8%	+11.1%
Q3 25	+17.3%	+12.8%
Q4 25	+21.0%	+16.1%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$2M	4.6%
Q2 22	$3M	4.9%
Q3 22	$3M	3.9%
Q4 22	$2M	2.6%
Q1 23	$2M	3.4%
Q2 23	$2M	2.6%
Q3 23	$2M	2.5%
Q4 23	$2M	2.5%
Q1 24	$2M	3.3%
Q2 24	$2M	2.5%
Q3 24	$2M	2.8%
Q4 24	$2M	2.2%
Q1 25	$2M	3.4%
Q2 25	$2M	2.5%
Q3 25	$2M	2.1%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q1 22	$2M	$16M	$24M
Q2 22	$2M	$15M	$29M
Q3 22	$2M	$16M	$27M
Q4 22	$2M	$13M	$27M
Q1 23	$2M	$15M	$26M
Q2 23	$2M	$15M	$28M
Q3 23	$2M	$16M	$26M
Q4 23	$2M	$15M	$27M
Q1 24	$2M	$16M	$27M
Q2 24	$2M	$17M	$29M
Q3 24	$2M	$18M	$27M
Q4 24	$2M	$20M	$29M
Q1 25	$2M	$20M	$28M
Q2 25	$2M	$22M	$30M
Q3 25	$2M	$21M	$30M
Q4 25	$3M	$25M	$34M

Revenue Segments

Quarter	Rental revenue	Sales revenue
Q4 22	$11M	$63M
Q1 23	$6M	$53M
Q2 23	$9M	$60M
Q3 23	$11M	$59M
Q4 23	$10M	$68M
Q1 24	$8M	$53M
Q2 24	$9M	$64M
Q3 24	$10M	$63M
Q4 24	$10M	$75M
Q1 25	$9M	$52M
Q2 25	$8M	$71M
Q3 25	$9M	$77M
Q4 25	$11M	$93M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$21M	$12M	$33M
Q2 22	$23M	$13M	$37M
Q3 22	$23M	$15M	$38M
Q4 22	$22M	$16M	$38M
Q1 23	$55M	$0	$55M
Q2 23	$63M	$0	$63M
Q3 23	$66M	$14M	$80M
Q4 23	$61M	$14M	$75M
Q1 24	$61M	$14M	$75M
Q2 24	$74M	$14M	$87M
Q3 24	$82M	$14M	$96M
Q4 24	$94M	$15M	$109M
Q1 25	$84M	$15M	$98M
Q2 25	$82M	$14M	$96M
Q3 25	$66M	$0	$66M
Q4 25	$83M	$0	$83M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	20M	+0.5%	+1.8%
Q2 22	20M	+0.6%	-0.1%
Q3 22	20M	+0.6%	+1.8%
Q4 22	20M	+0.8%	+2.5%
Q1 23	21M	+4.9%	+7.0%
Q2 23	23M	+9.7%	+16.6%
Q3 23	24M	+2.1%	+18.4%
Q4 23	23M	-1.8%	+15.4%
Q1 24	24M	+1.0%	+11.2%
Q2 24	24M	+1.8%	+3.2%
Q3 24	24M	+0.6%	+1.7%
Q4 24	24M	+0.9%	+4.5%
Q1 25	24M	-3.1%	+0.2%
Q2 25	23M	-2.0%	-3.6%
Q3 25	23M	-3.1%	-7.2%
Q4 25	23M	+2.4%	-5.8%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$48.6K	988
Q2 22	$60.4K	988
Q3 22	$66.1K	988
Q4 22	$75.3K	982
Q1 23	$59.9K	982
Q2 23	$69.6K	982
Q3 23	$70.9K	982
Q4 23	$78.3K	992
Q1 24	$61.6K	992
Q2 24	$73.8K	992
Q3 24	$73.7K	992
Q4 24	$82.5K	1K
Q1 25	$59.1K	1K
Q2 25	$76.1K	1K
Q3 25	$82.7K	1K
Q4 25	$95.4K	1K

Revenue / Employee