TACTILE SYSTEMS TECHNOLOGY ($NASDAQ:TCMD) reported their second quarter FY2023 earnings results on June 30, 2023. Total revenue rose 14.6% year over year to USD 68.3 million, and net income improved to -0.1 million from -4.64 million in the year-ago quarter.
The stock opened at $20.5 and closed at $20.4, a decrease of 2.2% from the prior closing price of $20.9. This marks the first time in a while that the company has reported a decrease in their stock prices. The second quarter of FY2023 may have been difficult for investors of TACTILE SYSTEMS TECHNOLOGY, but the company still reported overall growth for the quarter. This growth was largely driven by increased consumer demand for their tactile systems technology, as well as higher sales of their products and services. The company also reported that they are continuing to invest in research and development, which should help them stay competitive and ahead of the curve in the future.
Overall, it appears that the second quarter of FY2023 was a challenging one for TACTILE SYSTEMS TECHNOLOGY. While the stock prices saw a decrease from prior closing prices, investors should take heart in the fact that the company is still showing growth and investing in future products. With their continued commitment to innovation, TACTILE SYSTEMS TECHNOLOGY may be able to turn this quarter’s losses into future gains. Live Quote…
About the Company
Ownership (Institutional/ Fund Holdings)
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At GoodWhale, we have done extensive research and analysis into TACTILE SYSTEMS TECHNOLOGY, and are now ready to present our findings. According to our Risk Rating, TACTILE SYSTEMS TECHNOLOGY is a high risk investment in terms of financial and business aspects. Specifically, we have detected four risk warnings in the income sheet, balance sheet, cashflow statement, and non financial areas. To access more detailed information about these warnings, register on goodwhale.com today. We believe that our research into TACTILE SYSTEMS TECHNOLOGY will prove invaluable in helping investors make informed decisions about their investments. More…
Risk Rating Analysis
Star Chart Analysis
Tactile Systems Technology Inc is a leading provider of medical devices used to treat chronic diseases. The company’s products are designed to improve the quality of life for patients by providing them with the ability to manage their condition and improve their symptoms. The company’s products are available in a variety of sizes and configurations to meet the needs of different patients. The company’s products are also backed by a team of skilled and experienced customer service representatives who are available to help patients with any questions or concerns they may have.
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TACTILE SYSTEMS TECHNOLOGY reported strong financial results in their second quarter of FY2023. Total revenue grew by 14.6% year over year, reaching USD 68.3 million. Net income also increased significantly, from -4.64 million in the same quarter of the previous year to -0.1 million.
Despite a slight loss, investors can take solace in the fact that the company is steadily improving. As a result, TACTILE SYSTEMS TECHNOLOGY is an attractive investment option for those looking for reliable long-term returns.