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HomeBusinessTactile Systems Technology Shares Jump 13 percent on Q1 Beat

Tactile Systems Technology Shares Jump 13 percent on Q1 Beat

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Tactile Systems Technology, Inc. (NASDAQ:TCMD) shares surged more than 13% yesterday after the company reported its Q1 earnings results, with EPS of ($0.09) coming in better than the Street estimate of ($0.24). Revenue was $58.8 million, beating the Street estimate of $53.94 million, as sales representative productivity increased due to new product introductions.
AffloVest contributed $9.1 million, up 24% year-over-year. Core lymphedema rose a healthy 22% year-over-year to $49.8 million. The company slightly increased its 2023 guidance, now expecting revenue to be in the range of $271-275 million (from the prior $269-273 million), compared to the Street estimate of $272 million.

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