$TCMD
TACTILE SYSTEMS TECHNOLOGY INC

2024 Q4 Form 10-Q Financial Statement

#000155837024014259 Filed on November 04, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3
Revenue $73.09M
YoY Change 5.04%
Cost Of Revenue $18.31M
YoY Change -9.5%
Gross Profit $54.79M
YoY Change 11.0%
Gross Profit Margin 74.96%
Selling, General & Admin $44.96M
YoY Change 5.83%
% of Gross Profit 82.06%
Research & Development $2.417M
YoY Change 23.07%
% of Gross Profit 4.41%
Depreciation & Amortization $1.734M
YoY Change 5.09%
% of Gross Profit 3.16%
Operating Expenses $48.01M
YoY Change 16.04%
Operating Profit $6.781M
YoY Change -15.12%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $452.0K
YoY Change -211.88%
Pretax Income $7.233M
YoY Change -4.64%
Income Tax $2.100M
% Of Pretax Income 29.03%
Net Earnings $5.155M
YoY Change -76.88%
Net Earnings / Revenue 7.05%
Basic Earnings Per Share $0.21
Diluted Earnings Per Share $0.21
COMMON SHARES
Basic Shares Outstanding 24.00M 23.97M
Diluted Shares Outstanding 24.25M

Balance Sheet

Concept 2024 Q4 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $96.10M
YoY Change 20.73%
Cash & Equivalents $82.15M
Short-Term Investments $13.95M
Other Short-Term Assets $5.127M
YoY Change 9.09%
Inventory $21.18M
Prepaid Expenses
Receivables $39.97M
Other Receivables $0.00
Total Short-Term Assets $162.4M
YoY Change 7.04%
LONG-TERM ASSETS
Property, Plant & Equipment $5.878M
YoY Change 7.15%
Goodwill $31.06M
YoY Change 0.0%
Intangibles $43.71M
YoY Change -8.23%
Long-Term Investments
YoY Change
Other Assets $3.803M
YoY Change 36.6%
Total Long-Term Assets $125.4M
YoY Change -11.49%
TOTAL ASSETS
Total Short-Term Assets $162.4M
Total Long-Term Assets $125.4M
Total Assets $287.7M
YoY Change -1.9%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $7.290M
YoY Change 13.87%
Accrued Expenses $7.088M
YoY Change 33.06%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $2.956M
YoY Change -1.47%
Total Short-Term Liabilities $37.15M
YoY Change -18.55%
LONG-TERM LIABILITIES
Long-Term Debt $23.96M
YoY Change -45.05%
Other Long-Term Liabilities $18.71M
YoY Change -12.16%
Total Long-Term Liabilities $42.67M
YoY Change -34.21%
TOTAL LIABILITIES
Total Short-Term Liabilities $37.15M
Total Long-Term Liabilities $42.67M
Total Liabilities $79.82M
YoY Change -27.75%
SHAREHOLDERS EQUITY
Retained Earnings $26.14M
YoY Change 144.46%
Common Stock $24.00K
YoY Change 4.35%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $207.9M
YoY Change
Total Liabilities & Shareholders Equity $287.7M
YoY Change -1.9%

Cashflow Statement

Concept 2024 Q4 2024 Q3
OPERATING ACTIVITIES
Net Income $5.155M
YoY Change -76.88%
Depreciation, Depletion And Amortization $1.734M
YoY Change 5.09%
Cash From Operating Activities $10.26M
YoY Change 150.76%
INVESTING ACTIVITIES
Capital Expenditures $978.0K
YoY Change 144.5%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities -$978.0K
YoY Change 144.5%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -750.0K
YoY Change -13.79%
NET CHANGE
Cash From Operating Activities 10.26M
Cash From Investing Activities -978.0K
Cash From Financing Activities -750.0K
Net Change In Cash 8.528M
YoY Change 202.41%
FREE CASH FLOW
Cash From Operating Activities $10.26M
Capital Expenditures $978.0K
Free Cash Flow $9.278M
YoY Change 151.44%

Facts In Submission

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GainLossOnDispositionOfAssets1
-3000
us-gaap Liabilities Fair Value Adjustment
LiabilitiesFairValueAdjustment
2475000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-3203000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-10947000
tcmd Increase Decrease In Net Investment In Lease
IncreaseDecreaseInNetInvestmentInLease
-242000
tcmd Increase Decrease In Net Investment In Lease
IncreaseDecreaseInNetInvestmentInLease
-2527000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-1351000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
374000
us-gaap Increase Decrease In Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesReceivable
807000
us-gaap Increase Decrease In Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesReceivable
99000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
1844000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
369000
tcmd Increase Decrease In Operating Lease Right Of Use Asset
IncreaseDecreaseInOperatingLeaseRightOfUseAsset
18000
tcmd Increase Decrease In Operating Lease Right Of Use Asset
IncreaseDecreaseInOperatingLeaseRightOfUseAsset
-292000
us-gaap Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
-7308000
us-gaap Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
-8425000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
582000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-3622000
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-3703000
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-2316000
tcmd Increase Decrease In Other Accrued Liabilities And Income Taxes Payable
IncreaseDecreaseInOtherAccruedLiabilitiesAndIncomeTaxesPayable
-251000
tcmd Increase Decrease In Other Accrued Liabilities And Income Taxes Payable
IncreaseDecreaseInOtherAccruedLiabilitiesAndIncomeTaxesPayable
-5545000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
24322000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
17503000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1932000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1424000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
12000
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
85000
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
117000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-2005000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1541000
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
8250000
us-gaap Payment For Contingent Consideration Liability Financing Activities
PaymentForContingentConsiderationLiabilityFinancingActivities
5000000
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
2250000
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
2250000
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
8250000
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
125000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
2000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
13000
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans
1044000
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans
882000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
34625000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-1204000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
28145000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
21113000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
44107000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
61033000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
21929000
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
82146000
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
66036000
us-gaap Interest Paid Net
InterestPaidNet
1612000
us-gaap Interest Paid Net
InterestPaidNet
2810000
us-gaap Income Taxes Paid
IncomeTaxesPaid
4428000
us-gaap Income Taxes Paid
IncomeTaxesPaid
3006000
us-gaap Noncash Or Part Noncash Acquisition Value Of Assets Acquired1
NoncashOrPartNoncashAcquisitionValueOfAssetsAcquired1
49000
us-gaap Noncash Or Part Noncash Acquisition Value Of Assets Acquired1
NoncashOrPartNoncashAcquisitionValueOfAssetsAcquired1
40000
us-gaap Nature Of Operations
NatureOfOperations
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;background:#ffffff;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,” “our,” and the “Company”) manufactures and distributes medical devices for the treatment of patients with underserved chronic diseases at home.</span> <span style="font-family:'Arial','Helvetica','sans-serif';">We provide our Flexitouch® Plus and Entre™ Plus systems, which help control symptoms of lymphedema, a chronic progressive medical condition, through our direct sales force for use in the home following receipt of prescriptions from 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';">On September 8, 2021, we acquired the assets of the AffloVest airway clearance business (“AffloVest Acquisition”). AffloVest is a portable, wearable vest that treats patients with chronic respiratory conditions. We sell this device through home medical equipment and durable medical equipment (“DME”) providers 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.</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 February 27, 2023, we closed on a public offering of </span><span style="font-family:'Arial','Helvetica','sans-serif';">2,875,000</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';">$13.00</span><span style="font-family:'Arial','Helvetica','sans-serif';"> per share. We received net proceeds from this offering of </span><span style="font-family:'Arial','Helvetica','sans-serif';">$34.6</span><span style="font-family:'Arial','Helvetica','sans-serif';"> million after deducting underwriting discounts, commissions, and offering expenses.</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></p>
us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:14pt 0pt 0pt 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 0pt 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>
CY2024Q3 us-gaap Inventory Finished Goods
InventoryFinishedGoods
7022000
CY2023Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
7979000
CY2024Q3 us-gaap Inventory Work In Process
InventoryWorkInProcess
14154000
CY2023Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
14548000
CY2024Q3 us-gaap Inventory Net
InventoryNet
21176000
CY2023Q4 us-gaap Inventory Net
InventoryNet
22527000
CY2024Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
46398000
CY2024Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
12381000
CY2024Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
34017000
CY2024Q3 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
56089000
CY2024Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
12381000
CY2024Q3 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
43708000
CY2023Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
46268000
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
9535000
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
36733000
CY2023Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
56259000
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
9535000
CY2023Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
46724000
CY2023Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
900000
CY2024Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
900000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2800000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2900000
CY2024Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
951000
CY2024Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
3714000
CY2024Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
3650000
CY2024Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
3641000
CY2024Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
3638000
CY2024Q3 tcmd Finite Lived Intangible Asset Expected Amortization After Year Four
FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour
18423000
CY2024Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
34017000
CY2024Q3 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
CY2024Q3 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
1991000
CY2023Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
2357000
CY2024Q3 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
921000
CY2023Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
611000
CY2024Q3 tcmd In Transit Inventory Accrued Expense
InTransitInventoryAccruedExpense
1565000
CY2023Q4 tcmd In Transit Inventory Accrued Expense
InTransitInventoryAccruedExpense
401000
CY2024Q3 tcmd Accrued Travel And Entertainment Current
AccruedTravelAndEntertainmentCurrent
1000000
CY2023Q4 tcmd Accrued Travel And Entertainment Current
AccruedTravelAndEntertainmentCurrent
1038000
CY2024Q3 tcmd Accrued Clinical Studies Expenses Current
AccruedClinicalStudiesExpensesCurrent
339000
CY2023Q4 tcmd Accrued Clinical Studies Expenses Current
AccruedClinicalStudiesExpensesCurrent
363000
CY2024Q3 tcmd Accrued Sales And Use Tax
AccruedSalesAndUseTax
168000
CY2023Q4 tcmd Accrued Sales And Use Tax
AccruedSalesAndUseTax
183000
CY2024Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1104000
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
951000
CY2024Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
7088000
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
5904000
CY2024Q2 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
3692000
CY2023Q2 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
3828000
CY2023Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
4038000
CY2022Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
4212000
CY2024Q3 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
629000
CY2023Q3 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
1228000
us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
2371000
us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
3128000
CY2024Q3 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
882000
CY2023Q3 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
1403000
us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
2970000
us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
3687000
CY2024Q3 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
3439000
CY2023Q3 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
3653000
CY2024Q3 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
3439000
CY2023Q3 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
3653000
CY2024Q3 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
1991000
CY2023Q3 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
1872000
CY2024Q3 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
1991000
CY2023Q3 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
1872000
CY2024Q3 us-gaap Product Warranty Accrual Noncurrent
ProductWarrantyAccrualNoncurrent
1448000
CY2023Q3 us-gaap Product Warranty Accrual Noncurrent
ProductWarrantyAccrualNoncurrent
1781000
CY2024Q3 us-gaap Product Warranty Accrual Noncurrent
ProductWarrantyAccrualNoncurrent
1448000
CY2023Q3 us-gaap Product Warranty Accrual Noncurrent
ProductWarrantyAccrualNoncurrent
1781000
CY2024Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
3439000
CY2023Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
3653000
CY2024Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
3439000
CY2023Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
3653000
CY2021Q3 tcmd Line Of Credit Threshold Contingent Increase In Borrowing Capacity
LineOfCreditThresholdContingentIncreaseInBorrowingCapacity
25000000.0
CY2021Q3 tcmd Credit Agreement Total Aggregate Principal Amount
CreditAgreementTotalAggregatePrincipalAmount
80000000.0
CY2021Q3 us-gaap Line Of Credit
LineOfCredit
25000000.0
CY2023Q2 us-gaap Debt Instrument Basis Spread On Variable Rate1
DebtInstrumentBasisSpreadOnVariableRate1
0.0010
CY2024Q3 us-gaap Long Term Debt
LongTermDebt
27000000.0
CY2024Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
17553000
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
19128000
CY2024Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
2883000
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
2807000
CY2024Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
16767000
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
18436000
CY2024Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
19650000
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
21243000
CY2024Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y8M12D
CY2024Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.044
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.043
us-gaap Operating Lease Payments
OperatingLeasePayments
2642000
us-gaap Operating Lease Payments
OperatingLeasePayments
2579000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
386000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
132000
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
924000
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
3734000
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
3807000
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
3309000
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
3275000
CY2024Q3 tcmd Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
7008000
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
22057000
CY2024Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
2407000
CY2024Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
19650000
CY2024Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
2883000
CY2024Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
16767000
CY2023Q3 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
900000
CY2024Q3 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
900000
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
2600000
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
2700000
CY2024Q3 us-gaap Purchase Obligation Due In Next Twelve Months
PurchaseObligationDueInNextTwelveMonths
24800000
CY2024Q3 us-gaap Loss Contingency Loss In Period
LossContingencyLossInPeriod
500000
CY2024Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2100000
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1800000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6000000.0
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5600000
CY2024Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2070000
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1766000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5969000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5597000
CY2024Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
73093000
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
69586000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
207399000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
196771000
CY2024Q3 tcmd Percentage Of Revenue
PercentageOfRevenue
1
CY2023Q3 tcmd Percentage Of Revenue
PercentageOfRevenue
1
tcmd Percentage Of Revenue
PercentageOfRevenue
1
tcmd Percentage Of Revenue
PercentageOfRevenue
1
CY2024Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
73093000
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
69586000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
207399000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
196771000
CY2024Q3 us-gaap Sales Type Lease Revenue
SalesTypeLeaseRevenue
9925000
CY2023Q3 us-gaap Sales Type Lease Revenue
SalesTypeLeaseRevenue
10720000
us-gaap Sales Type Lease Revenue
SalesTypeLeaseRevenue
26657000
us-gaap Sales Type Lease Revenue
SalesTypeLeaseRevenue
25312000
CY2024Q3 us-gaap Cost Of Goods Sold Sales Type Lease
CostOfGoodsSoldSalesTypeLease
2703000
CY2023Q3 us-gaap Cost Of Goods Sold Sales Type Lease
CostOfGoodsSoldSalesTypeLease
3211000
us-gaap Cost Of Goods Sold Sales Type Lease
CostOfGoodsSoldSalesTypeLease
8270000
us-gaap Cost Of Goods Sold Sales Type Lease
CostOfGoodsSoldSalesTypeLease
9122000
CY2024Q3 us-gaap Sales Type Lease Selling Profit Loss
SalesTypeLeaseSellingProfitLoss
7222000
CY2023Q3 us-gaap Sales Type Lease Selling Profit Loss
SalesTypeLeaseSellingProfitLoss
7509000
us-gaap Sales Type Lease Selling Profit Loss
SalesTypeLeaseSellingProfitLoss
18387000
us-gaap Sales Type Lease Selling Profit Loss
SalesTypeLeaseSellingProfitLoss
16190000
CY2024Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.287
CY2023Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-1.940
CY2024Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2100000
CY2023Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-14700000
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.310
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-4.071
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3300000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-16300000
CY2024Q3 us-gaap Net Income Loss
NetIncomeLoss
5155000
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
22299000
us-gaap Net Income Loss
NetIncomeLoss
7244000
us-gaap Net Income Loss
NetIncomeLoss
20313000
CY2024Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
23985364
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
23483269
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
23842049
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
22714574
CY2024Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
24254176
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
23848729
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
24070084
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
22987667
CY2024Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.21
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.95
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.30
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.89
CY2024Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.21
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.94
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.30
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.88
CY2024Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
873568
CY2023Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
505493
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1032562
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
637984
CY2023Q2 us-gaap Payment For Contingent Consideration Liability Financing Activities
PaymentForContingentConsiderationLiabilityFinancingActivities
5000000.0
CY2023Q2 tcmd Business Combination Contingent Consideration Liability Imputed Interest Payment
BusinessCombinationContingentConsiderationLiabilityImputedInterestPayment
250000
CY2023Q4 us-gaap Payment For Contingent Consideration Liability Financing Activities
PaymentForContingentConsiderationLiabilityFinancingActivities
5600000
CY2024Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

Files In Submission

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0001558370-24-014259-index-headers.html Edgar Link pending
0001558370-24-014259-index.html Edgar Link pending
0001558370-24-014259.txt Edgar Link pending
0001558370-24-014259-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
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FilingSummary.xml Edgar Link unprocessable
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report.css Edgar Link pending
Show.js Edgar Link pending
tcmd-20240930.xsd Edgar Link pending
tcmd-20240930x10q.htm Edgar Link pending
tcmd-20240930xex10d1.htm Edgar Link pending
tcmd-20240930xex10d2.htm Edgar Link pending
tcmd-20240930xex31d1.htm Edgar Link pending
tcmd-20240930xex31d2.htm Edgar Link pending
tcmd-20240930xex32d1.htm Edgar Link pending
tcmd-20240930xex32d2.htm Edgar Link pending
tcmd-20240930_cal.xml Edgar Link unprocessable
tcmd-20240930_def.xml Edgar Link unprocessable
tcmd-20240930_lab.xml Edgar Link unprocessable
tcmd-20240930_pre.xml Edgar Link unprocessable
tcmd-20240930x10q_htm.xml Edgar Link completed