Tactile Systems Technology: Q1 2024 Financial Report Highlights Revenue Growth, Losses Per Share
Tactile Systems Technology (NASDAQ: TCMD) announced its first quarter 2024 financial results, highlighting key metrics. Revenue for the period was $61.1 million, a 3.8% increase from the same quarter in 2023. However, the net loss widened by 17% to $2.21 million, resulting in a loss per share of $0.093, which was worse than the $0.089 loss in 1Q 2023.
Despite the revenue growth, the company’s earnings per share fell short of analyst estimates by 16%. Looking ahead, Tactile Systems Technology forecasts a 12% annual revenue growth on average over the next three years, surpassing the industry average of 8.1% growth for the Medical Equipment sector in the US. The company’s shares have also seen a 4.9% increase over the past week.
It is important to note that there may still be risks associated with Tactile Systems Technology. Two warning signs have been identified that investors should be aware of. If you have any feedback on this article or concerns about the content, feel free to reach out directly or email the editorial team at simplywallst.com.
This article by Simply Wall St provides general analysis based on historical data and analyst forecasts. It is not intended to be financial advice and does not recommend buying or selling any stock. The analysis is driven by fundamental data, and may not incorporate the latest company announcements or qualitative factors. Simply Wall St does not have a position in any stocks mentioned.
In summary, while Tactile Systems Technology reported positive financial results for Q1 2024 with an increase in revenue and forecasted growth in revenue over the next three years, investors should remain aware of potential risks as highlighted in this article by Simply Wall St using historical data and analyst forecasts without considering latest company announcements or qualitative factors and does not provide financial advice to buy or sell any stock
