Tactile Systems Technology (NASDAQ: TCMD) reported its first quarter 2024 results with key financial highlights. Revenue for the quarter was US$61.1 million, up 3.8% from the first quarter of 2023. However, the net loss widened by 17% to US$2.21 million, resulting in a loss per share of US$0.093, which was worse than the US$0.089 loss in 1Q 2023.
Despite the increase in revenue, the company’s earnings per share fell short of analyst estimates by 16%. Looking forward, Tactile Systems Technology forecasts a 12% annual revenue growth on average over the next 3 years, outperforming 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.