The following is a summary of the Tactile Systems Technology, Inc. (TCMD) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Q3 revenue increased by 5% year-over-year to $73.1 million.

• Adjusted EBITDA grew 39.3% year-over-year.

• Cash and cash equivalents increased sequentially by $8.5 million to $82.1 million.

• Gross margin increased 410 basis points year-over-year due to lower material costs and warranty expenses.

Business Progress:

• Launched the next-generation lymphedema platform, Nimbl.

• Implemented technology and workflow investments to improve sales and order operations.

• Enhanced patient engagement and documentation processes through new CRM tools and increased back-office support.

• Expanded customer-facing and internal facing workflow-related tools including a national rollout of an e-prescribing tool.

• Continued development and generation of clinical evidence to support patient access to platforms.

Opportunities:

• Positive changes in Medicare coverage policy expected to improve market conditions.

• Strong patient and clinician demand remains for products.

• New technology deployments and process optimizations expected to drive operational efficiencies and support future growth.

• Expanded adoption of e-prescribing tools and new CRM functionalities offer opportunities to reduce administrative burdens and improve sales rep efficiency.

Risks:

• Unexpected changes in Medicare documentation requirements affected the lymphedema sales which in turn impacted revenue expectations for Q3.

• DME buying patterns led to uneven results and could potentially impact future sales consistency.

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