Tactile Systems Technology, Inc. (NASDAQ:TCMD) Q2 2024 Earnings Conference Call August 5, 2024 5:00 PM ET

Company Participants

Sam Bentzinger - Investor Relations, Gilmartin Group LLC
Sheri Dodd - Chief Executive Officer
Elaine Birkemeyer - Chief Financial Officer

Conference Call Participants

Margaret Kaczor - William Blair
Adam Maeder - Piper Sandler
Suraj Kalia - Oppenheimer & Company

Operator

Welcome, ladies and gentlemen, to the Second Quarter 2024 Earnings Conference Call for Tactile Medical. At this time, all participants have been placed in a listen-only mode. At the end of the company's prepared remarks, we will conduct a question-and-answer session. Please note that this conference call is being recorded and will be available on the company's website for replay shortly.

I would now like to turn the call over to Sam Bentzinger Investor Relations at Gilmartin & Group for a few introductory comments. Please go ahead.

Sam Bentzinger

Good afternoon, and thank you for joining the call today. With me from Tactile's management team are Sheri Dodd, Chief Executive Officer; and Elaine Birkemeyer, Chief Financial Officer. Before we begin, I would like to remind everyone that our remarks and responses to your questions today may contain forward-looking statements that are based on the current expectations of management and involve inherent risks and uncertainties, which could cause actual results to differ materially from those indicated, including those identified in the Risk Factors section of our annual report on Form 10-K as well as our most recent 10-Q filing to be filed with the Securities and Exchange Commission. Such factors may be updated from time to time in our filings with the SEC, which are available on our website. We undertake no obligation to publicly update or revise our forward-looking statements as a result of new information, future events or otherwise.

This call will also include references to certain financial measures that are not calculated in accordance with generally accepted accounting principles or GAAP. We generally refer to those as non-GAAP financial measures. Reconciliations of those non-GAAP financial measures to the most comparable measures calculated and presented in accordance with GAAP are available in the earnings press release on the Investor Relations portion of our website.

With that, I'll now turn the call over to Sheri Dodd.

Sheri Dodd

Thanks, Sam. Good afternoon, everyone, and welcome to our second quarter 2024 earnings call. Here with me is Elaine Birkemeyer, our Chief Financial Officer. I'm pleased to report strong Q2 performance across both our top and bottom lines as well as improvements in our operating cash flow. Specifically, Tactile achieved total revenue of $73.2 million in the second quarter, representing 7% growth year-over-year. By product line, lymphedema revenues increased 8% year-over-year to $64.7 million, and Airway Clearance revenues increased 2% year-over-year to $8.5 million.