$TCMD

TACTILE SYSTEMS TECHNOLOGY INC

CIK:0001027838|SEC Filings

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Total revenue	$ 85,698	$ 78,905	$ 160,965	$ 140,173
Total cost of revenue	20,349	20,112	38,002	36,034
Gross profit	65,349	58,793	122,963	104,139
Operating expenses
Sales and marketing	32,012	30,039	64,744	57,555
Research and development	2,501	2,018	5,277	3,759
Reimbursement, general and administrative	23,360	22,034	46,404	42,032
Intangible asset amortization and earn-out	650	619	1,246	1,252
Total operating expenses	58,523	54,710	117,671	104,598
Income (loss) from operations	6,826	4,083	5,292	(459)
Interest income	561	850	1,227	1,745
Interest expense	(19)	(410)	(47)	(834)
Other income		1		1
Income before income taxes	7,368	4,524	6,472	453
Income tax (benefit) expense	(417)	1,307	450	210
Net income	$ 7,785	$ 3,217	$ 6,022	$ 243
Net income per common share
Basic (in dollars per share)	$ 0.34	$ 0.14	$ 0.27	$ 0.01
Diluted (in dollars per share)	$ 0.34	$ 0.14	$ 0.26	$ 0.01
Weighted-average common shares used to compute net income per common share
Basic (in shares)	22,676,673	23,092,469	22,620,546	23,399,848
Diluted (in shares)	23,058,902	23,237,671	23,135,040	23,679,220
Sales revenue
Total revenue	$ 76,489	$ 70,531	$ 143,455	$ 123,000
Total cost of revenue	17,628	17,483	32,887	31,374
Gross profit	58,861	53,048	110,568	91,626
Rental revenue
Total revenue	9,209	8,374	17,510	17,173
Total cost of revenue	2,721	2,629	5,115	4,660
Gross profit	$ 6,488	$ 5,745	$ 12,395	$ 12,513

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities
Net income	$ 6,022	$ 243
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	3,450	3,385
Deferred income taxes	42	(22)
Stock-based compensation expense	4,040	4,005
Loss on disposal of property and equipment and intangibles	73	68
Changes in assets and liabilities, net of acquisition:
Accounts receivable, net	755	11,851
Net investment in leases	827	83
Inventories	(2,820)	1,555
Income taxes payable	(2,245)	(611)
Prepaid expenses and other assets	(5,174)	(4,735)
Right of use operating lease assets	(351)	(289)
Accounts payable	2,886	2,319
Accrued payroll and related taxes	(3,763)	(5,245)
Accrued expenses and other liabilities	(827)	2,567
Net cash provided by operating activities	2,915	15,174
Cash flows from investing activities
Payments related to acquisition, net of cash acquired	(6,226)
Purchases of property and equipment	(2,102)	(748)
Intangible assets expenditures	(52)	(56)
Payment for exclusive distribution agreement	(3,000)
Net cash used in investing activities	(11,380)	(804)
Cash flows from financing activities
Payments on note payable		(1,500)
Proceeds from exercise of common stock options	197	10
Proceeds from the issuance of common stock from the employee stock purchase plan	1,032	843
Payments for repurchases of common stock	(6,357)	(26,562)
Net cash used in financing activities	(5,128)	(27,209)
Net decrease in cash	(13,593)	(12,839)
Cash - beginning of period	83,446	94,367
Cash - end of period	69,853	81,528
Supplemental cash flow disclosure
Cash paid for interest	34	828
Cash paid for taxes	2,645	892
Accrued excise tax on stock repurchases		210
Capital expenditures incurred but not yet paid	$ 147	$ 58

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets
Cash	$ 69,853	$ 83,446
Accounts receivable, net	43,140	43,876
Net investment in leases	14,927	15,754
Inventories	16,845	14,025
Income taxes receivable	912
Prepaid expenses and other current assets	11,925	8,066
Total current assets	157,602	165,167
Non-current assets
Property and equipment, net	5,849	5,117
Right of use operating lease assets	12,553	13,798
Intangible assets, net	44,747	39,167
Goodwill	39,554	31,063
Deferred income taxes	8,703	9,783
Other non-current assets	10,660	9,847
Total non-current assets	122,066	108,775
Total assets	279,668	273,942
Current liabilities
Accounts payable	7,923	4,968
Accrued payroll and related taxes	15,615	19,378
Accrued expenses	8,423	8,531
Income taxes payable		1,428
Operating lease liabilities	3,095	3,195
Other current liabilities	3,197	3,457
Total current liabilities	38,253	40,957
Non-current liabilities
Accrued warranty reserve, non-current	1,079	1,045
Income taxes payable, non-current	370	275
Operating lease liabilities, non-current	11,267	12,763
Other non-current liabilities	4,863
Total non-current liabilities	17,579	14,083
Total liabilities	55,832	55,040
Commitments and Contingencies (see Note 9)
Stockholders' equity:
Preferred stock, $0.001 par value, 50,000,000 shares authorized; none issued and outstanding as of June 30, 2026 and December 31, 2025
Common stock, $0.001 par value, 300,000,000 shares authorized; 22,701,241 shares issued and outstanding as of June 30, 2026; 22,438,926 shares issued and outstanding as of December 31, 2025	23	22
Additional paid-in capital	162,851	163,940
Retained earnings	60,962	54,940
Total stockholders' equity	223,836	218,902
Total liabilities and stockholders' equity	$ 279,668	$ 273,942