Tactile Systems Technology (NASDAQ: TCMD) announced its first quarter 2024 financial results, highlighting key metrics. Revenue for the period was US$61.1 million, representing a 3.8% increase from the same quarter in 2023. However, the company’s net loss widened by 17%, resulting in a loss per share of US$0.093, which was worse than the US$0.089 loss recorded in 1Q 2023.
Despite the revenue growth, Tactile Systems Technology’s earnings per share fell short of analyst estimates by 16%. Looking ahead, the company forecasts a 12% annual revenue growth on average over the next three years, outperforming the industry average of 8.1% growth for the Medical Equipment sector in the US. The company’s shares have also experienced a 4.9% increase over the past week.
Investors should be aware of two warning signs that may impact Tactile Systems Technology’s future performance. Despite these risks, it is important to note that there is no definitive way to predict stock prices or market trends with certainty, and investors should always conduct their own research before making any investment decisions.
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.
