TCMD FY 2023 Earnings Report — Tactile Systems Technology, Inc. Revenue & Financial Results | Market Cap Arena

Tactile Systems Technology, Inc.TCMD

FY 2023 Earnings

Reported February 20, 2024

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2023	Prior Q	FY 2022	QoQ Change	YoY Change
Revenue	$274M	—	$247M	—	11.2%
Op. Income	$18M	—	-$13M	—	241.4%
Gross Margin	71.1%	—	71.3%	—	-0.2pp
Net Margin	10.4%	—	-7.2%	—	17.6pp
EPS (Diluted)	$1.23	—	$-0.89	—	238.2%
Free Cash Flow	$33M	—	$3M	—	914.7%

Revenue Flow

Item	Amount
REVENUE	$274M
Cost of Revenue	$79M
GROSS PROFIT	$195M
R&D Expenses	$8M
Selling & Marketing	$107M
General & Administrative	$62M
SG&A Expenses	$169M
Other Expenses	$76.0K
Operating Expenses	$177M
Cost & Expenses	$256M
OPERATING INCOME	$18M
Interest Income	$2M
Interest Expense	$4M
Other Income/Expenses	-$2M
INCOME BEFORE TAX	$16M
Income Tax Expense	-$13M
Net Income from Continuing Ops	$29M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$29M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$29M
D&A	$7M
EBIT	$20M
EBITDA	$26M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$274M
Cost of Revenue	$79M
GROSS PROFIT	$195M
R&D Expenses	$8M
Selling & Marketing	$107M
General & Administrative	$62M
SG&A Expenses	$169M
Other Expenses	$76.0K
Operating Expenses	$177M
Cost & Expenses	$256M
OPERATING INCOME	$18M
Interest Income	$2M
Interest Expense	$4M
Other Income/Expenses	-$2M
INCOME BEFORE TAX	$16M
Income Tax Expense	-$13M
Net Income from Continuing Ops	$29M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$29M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$29M
D&A	$7M
EBIT	$20M
EBITDA	$26M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$29M
Depreciation & Amortization	$7M
Stock-Based Compensation	$8M
Deferred Income Tax	-$19M
Other Non-Cash Items	-$2M
Change in Working Capital	$15M
OPERATING CASH FLOW	$36M
Capital Expenditure	-$2M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$157.0K
NET CASH FROM INVESTING	-$2M
Net Debt Issuance	-$20M
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	-$9M
NET CASH FROM FINANCING	$6M
FREE CASH FLOW	$33M
Net Change in Cash	$39M

Balance Sheet

Item	Amount
Cash & Equivalents	$61M
Short-Term Investments	$14M
Net Receivables	$43M
Inventory	$23M
Other Current Assets	$4M
TOTAL CURRENT ASSETS	$145M
PP&E (Net)	$25M
Goodwill	$31M
Intangible Assets	$47M
Long-Term Investments	$0
Tax Assets	$19M
Other Non-Current Assets	$14M
TOTAL NON-CURRENT ASSETS	$136M
TOTAL ASSETS	$281M
Account Payables	$7M
Short-Term Debt	$3M
Deferred Revenue	$0
Other Current Liabilities	$4M
TOTAL CURRENT LIABILITIES	$41M
Long-Term Debt	$26M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$2M
TOTAL NON-CURRENT LIABILITIES	$47M
TOTAL LIABILITIES	$88M
Common Stock	$24.0K
Additional Paid-In Capital	$175M
Retained Earnings	$19M
Treasury Stock	$0
Accum. Other Comp. Income	$0
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$194M
Minority Interest	$0
TOTAL EQUITY	$194M
TOTAL LIABILITIES & EQUITY	$281M
Total Debt	$50M
Net Debt	-$11M