$TCMD
TACTILE SYSTEMS TECHNOLOGY INC

2020 Q4 Form 10-Q Financial Statement

#000155837020012258 Filed on November 02, 2020

View on sec.gov

Income Statement

Concept 2020 Q4 2020 Q3 2019 Q3
Revenue $59.24M $49.09M $49.61M
YoY Change 3.82% -1.05% 36.59%
Cost Of Revenue $30.11M $14.12M $14.24M
YoY Change 14.66% -0.84% 40.41%
Gross Profit $41.85M $34.97M $35.37M
YoY Change 1.83% -1.13% 35.11%
Gross Profit Margin 70.65% 71.24% 71.3%
Selling, General & Admin $20.76M $32.03M $30.71M
YoY Change -11.92% 4.29% 30.19%
% of Gross Profit 49.6% 91.58% 86.81%
Research & Development $1.370M $1.102M $1.467M
YoY Change 15.13% -24.88% 19.95%
% of Gross Profit 3.27% 3.15% 4.15%
Depreciation & Amortization $690.0K $650.0K $750.0K
YoY Change -28.13% -13.33% -3.85%
% of Gross Profit 1.65% 1.86% 2.12%
Operating Expenses $22.14M $33.18M $32.18M
YoY Change -10.55% 3.11% 29.68%
Operating Profit $6.991M $1.794M $3.203M
YoY Change 15.57% -43.99% 133.8%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $1.190M -$121.0K $166.0K
YoY Change 693.33% -172.89% 29.69%
Pretax Income $8.180M $1.673M $3.363M
YoY Change 31.94% -50.25% 124.5%
Income Tax -$3.940M -$800.0K $900.0K
% Of Pretax Income -48.17% -47.82% 26.76%
Net Earnings $12.11M $2.424M $2.431M
YoY Change 182.94% -0.29% 39.23%
Net Earnings / Revenue 20.44% 4.94% 4.9%
Basic Earnings Per Share $0.62 $0.12 $0.13
Diluted Earnings Per Share $0.61 $0.12 $0.12
COMMON SHARES
Basic Shares Outstanding 19.42M 19.42M 18.98M
Diluted Shares Outstanding 19.75M 19.64M

Balance Sheet

Concept 2020 Q4 2020 Q3 2019 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $47.86M $42.20M $44.73M
YoY Change 5.79% -5.66% -2.54%
Cash & Equivalents $47.86M $42.20M $19.81M
Short-Term Investments $0.00 $0.00 $24.92M
Other Short-Term Assets $2.600M $4.000M $2.000M
YoY Change 4.0% 100.0% -16.67%
Inventory $18.56M $22.42M $16.88M
Prepaid Expenses
Receivables $43.85M $36.03M $27.68M
Other Receivables $0.00 $0.00 $3.800M
Total Short-Term Assets $123.6M $114.1M $102.7M
YoY Change 14.1% 11.08% 15.17%
LONG-TERM ASSETS
Property, Plant & Equipment $6.957M $7.177M $7.499M
YoY Change -6.09% -4.29% 82.9%
Goodwill
YoY Change
Intangibles $1.680M $1.671M $5.074M
YoY Change -68.37% -67.07%
Long-Term Investments
YoY Change
Other Assets $2.074M $1.965M $1.405M
YoY Change 25.09% 39.86% -68.07%
Total Long-Term Assets $50.47M $43.64M $41.05M
YoY Change 16.25% 6.32% 228.38%
TOTAL ASSETS
Total Short-Term Assets $123.6M $114.1M $102.7M
Total Long-Term Assets $50.47M $43.64M $41.05M
Total Assets $174.1M $157.8M $143.8M
YoY Change 14.72% 9.72% 41.37%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.197M $5.053M $6.289M
YoY Change 9.21% -19.65% 61.26%
Accrued Expenses $4.423M $3.582M $3.696M
YoY Change -1.67% -3.08% -65.13%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $26.71M $25.64M $24.13M
YoY Change 24.67% 6.27% 43.62%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $22.60M $23.00M $15.70M
YoY Change 27.68% 46.5% 881.25%
Total Long-Term Liabilities $22.62M $22.99M $15.68M
YoY Change 27.6% 46.62% 880.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $26.71M $25.64M $24.13M
Total Long-Term Liabilities $22.62M $22.99M $15.68M
Total Liabilities $49.34M $48.63M $39.81M
YoY Change 26.0% 22.16% 117.53%
SHAREHOLDERS EQUITY
Retained Earnings $20.06M $7.943M $16.39M
YoY Change -3.0% -51.55%
Common Stock $19.00K $19.00K $19.00K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $124.8M $109.1M $104.0M
YoY Change
Total Liabilities & Shareholders Equity $174.1M $157.8M $143.8M
YoY Change 14.72% 9.72% 41.37%

Cashflow Statement

Concept 2020 Q4 2020 Q3 2019 Q3
OPERATING ACTIVITIES
Net Income $12.11M $2.424M $2.431M
YoY Change 182.94% -0.29% 39.23%
Depreciation, Depletion And Amortization $690.0K $650.0K $750.0K
YoY Change -28.13% -13.33% -3.85%
Cash From Operating Activities $5.040M $5.730M $1.570M
YoY Change 5500.0% 264.97% -69.09%
INVESTING ACTIVITIES
Capital Expenditures -$500.0K -$1.020M -$2.570M
YoY Change -67.95% -60.31% 205.95%
Acquisitions
YoY Change
Other Investing Activities $0.00 $5.970M -$4.430M
YoY Change -100.0% -234.76% -521.9%
Cash From Investing Activities -$500.0K $4.950M -$7.000M
YoY Change -152.63% -170.71% -3281.82%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.110M 180.0K 200.0K
YoY Change -42.19% -10.0% -60.78%
NET CHANGE
Cash From Operating Activities 5.040M 5.730M 1.570M
Cash From Investing Activities -500.0K 4.950M -7.000M
Cash From Financing Activities 1.110M 180.0K 200.0K
Net Change In Cash 5.650M 10.86M -5.230M
YoY Change 90.88% -307.65% -190.02%
FREE CASH FLOW
Cash From Operating Activities $5.040M $5.730M $1.570M
Capital Expenditures -$500.0K -$1.020M -$2.570M
Free Cash Flow $5.540M $6.750M $4.140M
YoY Change 235.76% 63.04% -30.07%

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us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
6727000
CY2020Q2 us-gaap Stockholders Equity
StockholdersEquity
103385000
CY2020Q3 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
3164000
CY2020Q3 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
214000
CY2020Q3 us-gaap Adjustments To Additional Paid In Capital Other
AdjustmentsToAdditionalPaidInCapitalOther
-39000
CY2020Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
2395000
CY2020Q3 us-gaap Stockholders Equity
StockholdersEquity
109119000
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
112595000
us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
8288000
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
762000
us-gaap Adjustments To Additional Paid In Capital Other
AdjustmentsToAdditionalPaidInCapitalOther
-1592000
us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
1825000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-12759000
CY2020Q3 us-gaap Stockholders Equity
StockholdersEquity
109119000
CY2019Q2 us-gaap Stockholders Equity
StockholdersEquity
99008000
CY2019Q3 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
2330000
CY2019Q3 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
296000
CY2019Q3 us-gaap Adjustments To Additional Paid In Capital Other
AdjustmentsToAdditionalPaidInCapitalOther
-89000
CY2019Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
2422000
CY2019Q3 us-gaap Stockholders Equity
StockholdersEquity
103967000
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
89270000
us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
7387000
us-gaap Stock Issued During Period Value Stock Options Exercised
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1838000
us-gaap Adjustments To Additional Paid In Capital Other
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us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
1852000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
6727000
CY2019Q3 us-gaap Stockholders Equity
StockholdersEquity
103967000
us-gaap Profit Loss
ProfitLoss
-12733000
us-gaap Profit Loss
ProfitLoss
6688000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
2102000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
2808000
tcmd Amortization Of Premiums And Discounts On Securities Available For Sale
AmortizationOfPremiumsAndDiscountsOnSecuritiesAvailableForSale
-91000
tcmd Amortization Of Premiums And Discounts On Securities Available For Sale
AmortizationOfPremiumsAndDiscountsOnSecuritiesAvailableForSale
-225000
us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
3934000
us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
-31000
us-gaap Share Based Compensation
ShareBasedCompensation
8288000
us-gaap Share Based Compensation
ShareBasedCompensation
7387000
us-gaap Marketable Securities Gain Loss
MarketableSecuritiesGainLoss
-10000
us-gaap Asset Impairment Charges
AssetImpairmentCharges
4025000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
2589000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
3349000
tcmd Increase Decrease In Net Investment In Lease
IncreaseDecreaseInNetInvestmentInLease
1304000
tcmd Increase Decrease In Net Investment In Lease
IncreaseDecreaseInNetInvestmentInLease
7628000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
3538000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
5693000
us-gaap Increase Decrease In Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesReceivable
-773000
us-gaap Increase Decrease In Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesReceivable
2051000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
1553000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
418000
tcmd Increase Decrease In Operating Lease Right Of Use Asset
IncreaseDecreaseInOperatingLeaseRightOfUseAsset
-509000
tcmd Increase Decrease In Operating Lease Right Of Use Asset
IncreaseDecreaseInOperatingLeaseRightOfUseAsset
-107000
us-gaap Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
2916000
us-gaap Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
1141000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
938000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
979000
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IncreaseDecreaseInEmployeeRelatedLiabilities
766000
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IncreaseDecreaseInEmployeeRelatedLiabilities
3915000
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IncreaseDecreaseInOtherAccruedLiabilitiesAndIncomeTaxesPayable
1134000
tcmd Increase Decrease In Other Accrued Liabilities And Income Taxes Payable
IncreaseDecreaseInOtherAccruedLiabilitiesAndIncomeTaxesPayable
1073000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-2245000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
2421000
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ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
22500000
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
16000000
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
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PaymentsToAcquirePropertyPlantAndEquipment
1623000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
4276000
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
163000
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
154000
us-gaap Payments To Acquire Other Investments
PaymentsToAcquireOtherInvestments
30000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
20684000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-3289000
tcmd Payment Of Taxes For Net Share Settlement Of Restricted Stock Units
PaymentOfTaxesForNetShareSettlementOfRestrictedStockUnits
1592000
tcmd Payment Of Taxes For Net Share Settlement Of Restricted Stock Units
PaymentOfTaxesForNetShareSettlementOfRestrictedStockUnits
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us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
762000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1838000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
1825000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
1852000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
995000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
583000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
19434000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-285000
CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
22770000
CY2018Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
20099000
CY2020Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
42204000
CY2019Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
19814000
us-gaap Income Taxes Paid
IncomeTaxesPaid
475000
us-gaap Income Taxes Paid
IncomeTaxesPaid
326000
us-gaap Noncash Or Part Noncash Acquisition Value Of Assets Acquired1
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41000
us-gaap Noncash Or Part Noncash Acquisition Value Of Assets Acquired1
NoncashOrPartNoncashAcquisitionValueOfAssetsAcquired1
801000
us-gaap Nature Of Operations
NatureOfOperations
<p style="background-color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;"><b style="font-family:'Arial','Helvetica','sans-serif';font-weight:bold;">Note 1. Nature of Business and Operations</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><span style="font-family:'Arial','Helvetica','sans-serif';">Tactile Systems Technology, Inc. (“we,” “us,” and “our”) is the sole manufacturer and distributor of the Flexitouch® and Entre™ systems, medical devices that help control symptoms of lymphedema, a chronic and progressive medical condition. Our products are purchased or rented for at-home use and are recommended by vascular, wound and lymphedema clinics throughout the United States.</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><span style="font-family:'Arial','Helvetica','sans-serif';">We were originally incorporated in Minnesota under the name Tactile Systems Technology, Inc. on January 30, 1995. During 2006, we established a merger corporation and subsequently, on July 21, 2006, merged with and into this merger corporation, resulting in our reincorporation as a Delaware corporation. The resulting corporation assumed the name Tactile Systems Technology, Inc. In September 2013, we began doing business as “Tactile Medical”.</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><span style="font-family:'Arial','Helvetica','sans-serif';">On August 2, 2016, we closed the initial public offering of our common stock, which resulted in the sale of </span><span style="font-family:'Arial','Helvetica','sans-serif';">4,120,000</span><span style="font-family:'Arial','Helvetica','sans-serif';"> shares of our common stock at a public offering price of </span><span style="font-family:'Arial','Helvetica','sans-serif';">$10.00</span><span style="font-family:'Arial','Helvetica','sans-serif';"> per share. We received net proceeds from the initial public offering of approximately </span><span style="font-family:'Arial','Helvetica','sans-serif';">$35.4</span><span style="font-family:'Arial','Helvetica','sans-serif';"> million, after deducting underwriting discounts and approximately </span><span style="font-family:'Arial','Helvetica','sans-serif';">$2.9</span><span style="font-family:'Arial','Helvetica','sans-serif';"> million of transaction expenses. In connection with the closing of the initial public offering, all of our outstanding redeemable convertible preferred stock automatically converted to common stock on August 2, 2016. As a result, at August 2, 2016, we did not have any redeemable convertible preferred stock issued or outstanding.</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;padding-bottom:12pt;text-align:justify;text-indent:36pt;margin:0pt;"><span style="font-family:'Arial','Helvetica','sans-serif';">Our business is affected by seasonality. In the first quarter of each year, when most patients have started a new insurance year and have not yet met their annual out-of-pocket payment obligations, we experience substantially reduced demand for our products. We typically experience higher revenue in the third and fourth quarters of the year when patients have met their annual insurance deductibles, thereby reducing their out-of-pocket costs for our products, and because patients desire to exhaust their flexible spending accounts at year end. This seasonality applies only to purchases and rentals of our products by patients covered by commercial insurance and is not relevant to Medicare, Medicaid or the Veterans Administration, as those payers either do not have plans that have declining deductibles over the course of the plan year and/or do not have plans that include patient deductibles for purchases or rentals of our products. </span><span style="font-family:'Arial','Helvetica','sans-serif';">Further, seasonality trends in 2020 may be significantly different than in prior years as a result of the COVID-19 pandemic and related impacts</span><span style="font-family:'Arial','Helvetica','sans-serif';">.</span></p>
us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><span style="font-family:'Arial','Helvetica','sans-serif';font-style:italic;font-weight:bold;">Use of Estimates</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:14pt 0pt 12pt 0pt;"><span style="color:#2b2c2b;font-family:'Arial','Helvetica','sans-serif';">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and to disclose contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.</span></p>
CY2020Q3 us-gaap Marketable Securities
MarketableSecurities
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CY2019Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
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CY2019Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
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22000
CY2019Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
1000
CY2019Q4 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
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tcmd Unrealized Holding Gain Loss On Marketable Securities Arising During Period Before Tax
UnrealizedHoldingGainLossOnMarketableSecuritiesArisingDuringPeriodBeforeTax
0
tcmd Proceeds From Sale Of Marketable Securities
ProceedsFromSaleOfMarketableSecurities
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CY2020Q3 tcmd Marketable Securities In Unrealized Loss Position
MarketableSecuritiesInUnrealizedLossPosition
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CY2019Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
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CY2019Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
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1000
CY2019Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
5997000
CY2019Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
1000
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CY2019Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
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CY2020Q3 us-gaap Inventory Work In Process
InventoryWorkInProcess
13132000
CY2019Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
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CY2020Q3 us-gaap Inventory Net
InventoryNet
22419000
CY2019Q4 us-gaap Inventory Net
InventoryNet
19059000
CY2020Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
1638000
CY2020Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
490000
CY2020Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
1148000
CY2020Q3 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
2161000
CY2020Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
490000
CY2020Q3 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
1671000
CY2019Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
5636000
CY2019Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
734000
CY2019Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
4902000
CY2019Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
6046000
CY2019Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
734000
CY2019Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
5312000
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AmortizationOfIntangibleAssets
100000
CY2020Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
100000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
300000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
400000
CY2020Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
58000
CY2020Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
230000
CY2020Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
230000
CY2020Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
200000
CY2020Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
179000
CY2020Q3 tcmd Finite Lived Intangible Asset Expected Amortization After Year Four
FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour
251000
CY2020Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
1148000
CY2020Q3 us-gaap Product Warranty Accrual Classified Current
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1443000
CY2019Q4 us-gaap Product Warranty Accrual Classified Current
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CY2020Q3 us-gaap Accrued Professional Fees Current
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CY2019Q4 us-gaap Accrued Professional Fees Current
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617000
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413000
CY2019Q4 tcmd Accrued Travel And Entertainment Current
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776000
CY2020Q3 tcmd In Transit Inventory Accrued Expense
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CY2019Q4 tcmd In Transit Inventory Accrued Expense
InTransitInventoryAccruedExpense
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CY2020Q3 tcmd Accrued Sales And Use Tax
AccruedSalesAndUseTax
183000
CY2019Q4 tcmd Accrued Sales And Use Tax
AccruedSalesAndUseTax
200000
CY2020Q3 tcmd Accrued Clinical Studies Expenses Current
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CY2019Q4 tcmd Accrued Clinical Studies Expenses Current
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CY2019Q4 tcmd Accrued Lease Termination Costs Current
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CY2019Q4 us-gaap Other Accrued Liabilities Current
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us-gaap Operating Lease Payments
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CY2019Q3 us-gaap Standard Product Warranty Accrual Payments
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CY2020Q2 us-gaap Standard Product Warranty Accrual
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CY2019Q2 us-gaap Standard Product Warranty Accrual
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3002000
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3759000
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2566000
CY2020Q3 us-gaap Standard Product Warranty Accrual Warranties Issued
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820000
CY2019Q3 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
664000
us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
2097000
us-gaap Standard Product Warranty Accrual Warranties Issued
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1677000
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514000
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us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
1342000
us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
963000
CY2020Q3 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
4514000
CY2019Q3 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
3280000
CY2020Q3 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
4514000
CY2019Q3 us-gaap Standard Product Warranty Accrual
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3280000
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1443000
CY2019Q3 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
1053000
CY2020Q3 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
1443000
CY2019Q3 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
1053000
CY2020Q3 us-gaap Product Warranty Accrual Noncurrent
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3071000
CY2019Q3 us-gaap Product Warranty Accrual Noncurrent
ProductWarrantyAccrualNoncurrent
2227000
CY2020Q3 us-gaap Product Warranty Accrual Noncurrent
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3071000
CY2019Q3 us-gaap Product Warranty Accrual Noncurrent
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2227000
CY2020Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
4514000
CY2019Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
3280000
CY2020Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
4514000
CY2019Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
3280000
CY2018Q3 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
10000000.0
CY2018Q3 tcmd Line Of Credit Facility Contingent Increase Additional Borrowing Capacity
LineOfCreditFacilityContingentIncreaseAdditionalBorrowingCapacity
25000000.0
CY2018Q3 tcmd Line Of Credit Facility Contingent Increase Aggregate Maximum Borrowing Capacity
LineOfCreditFacilityContingentIncreaseAggregateMaximumBorrowingCapacity
35000000.0
CY2020Q3 us-gaap Line Of Credit
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CY2019 tcmd Lease Termination Fee
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CY2019 us-gaap Gain Loss On Termination Of Lease
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CY2020Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
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CY2019Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
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us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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16296000
CY2020Q3 us-gaap Operating Lease Liability Current
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2010000
CY2019Q4 us-gaap Operating Lease Liability Current
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1454000
CY2020Q3 us-gaap Operating Lease Liability Noncurrent
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CY2019Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
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CY2020Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
21929000
CY2019Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
16588000
CY2020Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P9Y7M6D
CY2020Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
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CY2019Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.046
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
6664000
us-gaap Operating Lease Payments
OperatingLeasePayments
1849000
CY2020Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
49092000
CY2019Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
49612000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
127887000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
132429000
CY2020Q3 tcmd Percentage Of Revenue
PercentageOfRevenue
1
CY2019Q3 tcmd Percentage Of Revenue
PercentageOfRevenue
1
tcmd Percentage Of Revenue
PercentageOfRevenue
1
tcmd Percentage Of Revenue
PercentageOfRevenue
1
CY2020Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
49092000
CY2019Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
49612000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
127887000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
788000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
2781000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
2643000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
2594000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
2575000
CY2020Q3 tcmd Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
15344000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
26725000
CY2020Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
4796000
CY2020Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
21929000
CY2020Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
2010000
CY2020Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
19919000
CY2020Q3 tcmd Operating Lease Lease Not Yet Commenced Amount
OperatingLeaseLeaseNotYetCommencedAmount
7100000
CY2020Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
800000
CY2019Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
600000
us-gaap Operating Lease Cost
OperatingLeaseCost
2100000
us-gaap Operating Lease Cost
OperatingLeaseCost
1300000
CY2020Q3 tcmd Number Of Vendors
NumberOfVendors
2
CY2019Q3 tcmd Number Of Vendors
NumberOfVendors
2
CY2019Q3 tcmd Number Of Vendors
NumberOfVendors
2
CY2020Q3 us-gaap Purchase Obligation Due In Next Twelve Months
PurchaseObligationDueInNextTwelveMonths
20500000
CY2020Q3 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
4658176
CY2020Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3200000
CY2019Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2300000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
8300000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7400000
CY2020Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3164000
CY2019Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2330000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
8288000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7387000
CY2019Q3 us-gaap Sales Type Lease Revenue
SalesTypeLeaseRevenue
6088000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
132429000
CY2019Q3 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
600000
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
4800000
CY2020Q3 us-gaap Sales Type Lease Revenue
SalesTypeLeaseRevenue
6519000
us-gaap Sales Type Lease Revenue
SalesTypeLeaseRevenue
18173000
us-gaap Sales Type Lease Revenue
SalesTypeLeaseRevenue
15088000
CY2020Q3 us-gaap Cost Of Goods Sold Sales Type Lease
CostOfGoodsSoldSalesTypeLease
2562000
CY2019Q3 us-gaap Cost Of Goods Sold Sales Type Lease
CostOfGoodsSoldSalesTypeLease
1932000
us-gaap Cost Of Goods Sold Sales Type Lease
CostOfGoodsSoldSalesTypeLease
6062000
us-gaap Cost Of Goods Sold Sales Type Lease
CostOfGoodsSoldSalesTypeLease
5358000
CY2020Q3 us-gaap Sales Type Lease Selling Profit Loss
SalesTypeLeaseSellingProfitLoss
3957000
CY2019Q3 us-gaap Sales Type Lease Selling Profit Loss
SalesTypeLeaseSellingProfitLoss
4156000
us-gaap Sales Type Lease Selling Profit Loss
SalesTypeLeaseSellingProfitLoss
12111000
us-gaap Sales Type Lease Selling Profit Loss
SalesTypeLeaseSellingProfitLoss
9730000
CY2020Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.55
CY2019Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.27
CY2020Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-800000
CY2019Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
900000
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.17
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.36
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2300000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-1800000
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
19415640
CY2019Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
18981015
CY2020Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
2424000
CY2019Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
2431000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-12733000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
6688000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
19309344
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
18870622
CY2020Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
331725
CY2019Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
660838
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
760099
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
19747365
CY2019Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
19641853
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
19309344
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
19630721
CY2020Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.12
CY2019Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.13
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.66
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.35
CY2020Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.12
CY2019Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.12
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.66
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.34
CY2020Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
797765
CY2019Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
262200
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1367964
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
267808
CY2020Q3 tcmd Fair Value Transfers Within Three Level Hierarchy
FairValueTransfersWithinThreeLevelHierarchy
0
CY2020Q3 tcmd Fair Value Transfers Within Three Level Hierarchy
FairValueTransfersWithinThreeLevelHierarchy
0

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