The following is a summary of the Tactile Systems Technology, Inc. (TCMD) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Tactile Systems Technology reported Q1 revenue growth of 4% year-over-year to $61.1 million, with lymphedema revenues increasing 5% to $52.3 million and airway clearance revenues declining 4% to $8.8 million.

• The company noted a 100% increase in adjusted EBITDA against the prior year along with significant progress in working down its accounts receivable.

• The company aims to achieve its increased adjusted EBITDA guidance for 2024, which has already doubled year-over-year in Q1.

• Tactile Systems reported improved gross margins in Q1 due to achieving scale with new products and successful cost management efforts.

• The company expects to achieve growth in the adjusted EBITDA operating margin, driven by productivity increments from sales force efficiency and back-office operations, largely due to new tech investments.

Business Progress:

• The company invested in technology to streamline patient benefit verification and order processing, with the piloting of an e-prescribing platform being significant.

• Tactile Systems saw continued uptake of its Kylee mobile application, with over 26,000 unique user profiles registered.

• In a change of leadership, Sheri Dodd, a member of the Board of Directors, will assume the role of CEO.

• Tactile completed the enrollment for a head and neck lymphedema study, expecting positive impacts on business in the second half of 2025.

• The company added new sales reps to support growth targets and enhanced bandwidth by transitioning home demos to trainers.

• A next-generation pneumatic compression device is being developed to enhance the patient experience.

• The company's 2024 guidance towards high single-digit sales growth and adjusted EBITDA between $33 million and $35 million remains unchanged.

More details: Tactile Systems Technology IR

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.