olivLaw · US equity research
Tactile Systems Technology, Inc. TCMD
Surgical & Medical Instruments & Apparatus · SIC 3841 · Vertical: Surgical & Medical Instruments & Apparatus (SIC 3841)
Tactile Medical develops and sells medical devices for at-home treatment of lymphedema, chronic venous insufficiency and chronic respiratory conditions. The company reported revenue of 329.5 million USD for fiscal 2025, and in the second quarter of 2026 revenue grew 9%.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, Tactile Systems Technology, Inc. (TCMD) stock was 27.18 USD (+9.69% on the day), with market capitalisation 608.9 m USD, P/E 26.5 on diluted EPS of 1.03 USD over the last 12 months, beta 0.77, 52-week range 21.71–33.05 USD. Latest reported quarter (Q3 2026): revenue of 91.9 m USD (+7.1% YoY), net income of 7.2 m USD (−12.8% YoY), diluted EPS 0.31 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 72.4
- overbought (≥ 70)
- Bollinger (20, 2)
- 21.16 – 25.57
- above the upper band · %B 1.36 · band width 18.9%
- SMA 50 / 200
- 22.82 / 25.79
- mixed trend
- MACD (12, 26, 9)
- 0.56 / 0.25
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +21.0% | −2.0% | +23.0 pp | — |
| 3 months | −9.3% | −2.2% | −7.2 pp | — |
| 6 months | +7.4% | +4.3% | +3.2 pp | — |
| Year to date | −6.3% | +10.6% | −16.8 pp | — |
| 1 year | +22.5% | +10.5% | +12.1 pp | −43.3% |
| 3 years | +110.9% | +73.7% | +37.2 pp | −7.7% |
| 5 years | −28.4% | +61.7% | −90.1 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q3 2026 · 30 Sept 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 85.6 m | 61.3 m | 78.9 m | 85.8 m | 103.6 m | 75.3 m | 85.7 m | 91.9 m |
| Cost of revenue | 21.2 m | 15.9 m | 20.1 m | 20.8 m | 22.6 m | 17.7 m | 20.3 m | 21.4 m |
| Gross profit | 64.4 m | 45.3 m | 58.8 m | 65.0 m | 81.0 m | 57.6 m | 65.3 m | 70.5 m |
| Research & development | 2.0 m | 1.7 m | 2.0 m | 2.2 m | 2.5 m | 2.8 m | 2.5 m | 2.5 m |
| Operating income | 12.5 m | -4.5 m | 4.1 m | 11.0 m | 18.8 m | -1.5 m | 6.8 m | 9.6 m |
| Depreciation & amortisation | 1.7 m | 1.7 m | 1.7 m ≈ | 1.6 m ≈ | 1.6 m | 1.6 m | 1.8 m ≈ | 1.8 m ≈ |
| Interest expense | 471.0 k | 424.0 k | 410.0 k | 193.0 k | 11.0 k | 28.0 k | 19.0 k | 20.0 k |
| Pre-tax income | 13.0 m | -4.1 m | 4.5 m | 11.4 m | 19.4 m | -896.0 k | 7.4 m | 10.1 m |
| Income tax | 3.3 m | -1.1 m | 1.3 m | 3.2 m | 8.8 m | 867.0 k | -417.0 k | 3.0 m |
| Net income | 9.7 m | -3.0 m | 3.2 m | 8.2 m | 10.6 m | -1.8 m | 7.8 m | 7.2 m |
| Diluted EPS | 0.40 ≈ | -0.13 | 0.14 | 0.36 | 0.46 ≈ | -0.08 | 0.34 | 0.31 |
| Operating cash flow | 16.3 m | 417.0 k | 14.8 m ≈ | 10.3 m ≈ | 17.3 m | -339.0 k | 3.3 m ≈ | 12.0 m ≈ |
| Capex | 460.0 k | 379.0 k | 369.0 k ≈ | 1.1 m ≈ | 510.0 k | 821.0 k | 1.3 m ≈ | 553.0 k ≈ |
| Share repurchases | — | 10.0 m | 16.5 m ≈ | 0 ≈ | -1.0 k | 1.1 m | 5.3 m ≈ | 6.2 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 34 percentile of its own 29-quarter history (min 8.7, median 81.5, max 868.3; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 143.8 m | 189.5 m | 187.1 m | 208.1 m | 246.8 m | 274.4 m | 293.0 m | 329.5 m |
| Revenue YoY | +31.5% | +31.8% | −1.2% | +11.2% | +18.6% | +11.2% | +6.8% | +12.5% |
| Net income | 6.6 m | 11.0 m | -620.0 k | -11.8 m | -17.9 m | 28.5 m | 17.0 m | 19.1 m |
| Net income YoY | +13.1% | +65.7% | −105.7% | unavailable | unavailable | unavailable | −40.5% | +12.5% |
| Diluted EPS | 0.34 | 0.56 | -0.03 | -0.60 | -0.89 | 1.23 | 0.70 | 0.82 |
| Diluted EPS YoY | +9.7% | +64.7% | −105.4% | unavailable | unavailable | unavailable | −43.1% | +17.1% |
| net % | 4.6% | 5.8% | -0.3% | -5.7% | -7.2% | 10.4% | 5.8% | 5.8% |
| Free cash flow | 4.8 m | -2.9 m | 735.0 k | 528.0 k | 3.4 m | 33.5 m | 38.3 m | 40.4 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 83.4 m USD
- Financial debt
- 0 USD
- Net debt
- -83.4 m USD
- Equity
- 218.9 m USD
- Total assets
- 273.9 m USD
- Debt / equity
- 0.00x
- Current ratio
- 4.03x
- ROE
- 8.8%
- ROA
- 6.7%
- FCF margin
- 12.3%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 187.1 m | 208.1 m | 246.8 m | 274.4 m | 293.0 m | 329.5 m | SEC (XBRL)· 17 Feb 2026verified |
| Cost of revenue | 54.3 m | 59.8 m | 70.8 m | 79.3 m | 76.3 m | 79.4 m | SEC (XBRL)· 17 Feb 2026verified |
| Gross profit | 132.8 m | 148.2 m | 176.0 m | 195.1 m | 216.7 m | 250.1 m | SEC (XBRL)· 17 Feb 2026verified |
| Research & development | 5.3 m | 5.7 m | 7.1 m | 7.8 m | 8.8 m | 8.5 m | SEC (XBRL)· 17 Feb 2026verified |
| Operating income | -3.6 m | -1.8 m | -12.8 m | 18.0 m | 22.2 m | 29.3 m | SEC (XBRL)· 17 Feb 2026verified |
| Depreciation & amortisation | 2.8 m | 3.7 m | 6.3 m | 6.5 m | 6.8 m | 6.6 m | SEC (XBRL)· 17 Feb 2026verified |
| EBITDA | -834.0 k ≈ | 1.9 m ≈ | -6.5 m ≈ | 24.6 m ≈ | 29.0 m ≈ | 35.9 m ≈ | SEC (XBRL)· 17 Feb 2026derived |
| Interest expense | — | — | 2.8 m | 4.1 m | 2.1 m | 1.0 m | SEC (XBRL)· 17 Feb 2026verified |
| Pre-tax income | -2.3 m | -2.3 m | -15.5 m | 15.8 m | 23.5 m | 31.3 m | SEC (XBRL)· 17 Feb 2026verified |
| Income tax | -1.6 m | 9.5 m | 2.4 m | -12.7 m | 6.5 m | 12.3 m | SEC (XBRL)· 17 Feb 2026verified |
| Net income | -620.0 k | -11.8 m | -17.9 m | 28.5 m | 17.0 m | 19.1 m | SEC (XBRL)· 17 Feb 2026verified |
| Diluted EPS | -0.03 | -0.60 | -0.89 | 1.23 | 0.70 | 0.82 | SEC (XBRL)· 17 Feb 2026verified |
| Weighted average diluted shares | 19.3 m | 19.7 m | 20.1 m | 23.2 m | 24.1 m | 23.3 m | SEC (XBRL)· 17 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 47.9 m | 28.2 m | 21.9 m | 61.0 m | 94.4 m | 83.4 m | SEC (XBRL)· 17 Feb 2026verified |
| Receivables | 43.8 m | 49.5 m | 54.8 m | 43.2 m | 44.9 m | 43.9 m | SEC (XBRL)· 17 Feb 2026verified |
| Inventories | 18.6 m | 19.2 m | 23.1 m | 22.5 m | 18.7 m | 14.0 m | SEC (XBRL)· 17 Feb 2026verified |
| Current assets | 123.6 m | 113.5 m | 119.8 m | 145.3 m | 177.6 m | 165.2 m | SEC (XBRL)· 17 Feb 2026verified |
| Property, plant & equipment, net | 7.0 m | 6.8 m | 6.1 m | 6.2 m | 5.6 m | 5.1 m | SEC (XBRL)· 17 Feb 2026verified |
| Goodwill | — | 31.1 m | 31.1 m | 31.1 m | 31.1 m | 31.1 m | SEC (XBRL)· 17 Feb 2026verified |
| Intangibles (excl. goodwill) | 1.7 m | 54.1 m | 50.4 m | 46.7 m | 42.8 m | 39.2 m | SEC (XBRL)· 17 Feb 2026verified |
| Total assets | 174.1 m | 244.3 m | 255.0 m | 281.4 m | 297.9 m | 273.9 m | SEC (XBRL)· 17 Feb 2026verified |
| Accounts payable | 4.2 m | 5.0 m | 10.0 m | 6.7 m | 5.6 m | 5.0 m | SEC (XBRL)· 17 Feb 2026verified |
| Long-term debt | — | — | — | 16.8 m | — | 0 | SEC (XBRL)· 17 Feb 2026verified |
| Current liabilities | 26.7 m | 34.5 m | 64.3 m | 41.1 m | 40.7 m | 41.0 m | SEC (XBRL)· 17 Feb 2026verified |
| Total liabilities | 49.3 m | 116.0 m | 133.6 m | 87.8 m | 81.3 m | 55.0 m | SEC (XBRL)· 17 Feb 2026verified |
| Equity | 124.8 m † | 128.2 m † | 121.4 m † | 193.6 m † | 216.6 m † | 218.9 m † | SEC (XBRL)· 17 Feb 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 2.8 m | 2.6 m | 5.2 m | 35.9 m | 40.7 m | 42.8 m | SEC (XBRL)· 17 Feb 2026verified |
| Capex | 2.1 m | 2.1 m | 1.8 m | 2.3 m | 2.4 m | 2.4 m | SEC (XBRL)· 17 Feb 2026verified |
| Free cash flow | 735.0 k ≈ | 528.0 k ≈ | 3.4 m ≈ | 33.5 m ≈ | 38.3 m ≈ | 40.4 m ≈ | SEC (XBRL)· 17 Feb 2026derived |
| Investing cash flow | 20.2 m | -82.2 m | -1.9 m | -2.5 m | -2.5 m | -2.5 m | SEC (XBRL)· 17 Feb 2026verified |
| Financing cash flow | 2.1 m | 59.9 m | -9.6 m | 5.7 m | -4.8 m | -51.2 m | SEC (XBRL)· 17 Feb 2026verified |
| Share repurchases | — | — | — | — | 3.5 m | 26.6 m | SEC (XBRL)· 17 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 74 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 608.9 m USD
Key indicators
Coverage and freshness
Score by group
- Balance sheet95
- Growth84
- Quality84
- Returns29
- Valuation59
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 4.25 – 33.65 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)22.63 – 32.67 (Mid 26.55)WACC 9.3% · starting FCFF 29.1 m USD · terminal value share of EV 73%The WACC × g sensitivity gives the method's bounds; these are not probabilities.Reverse DCF: starting growth implied by the price (fading linearly to terminal growth, everything else fixed): 11.4%
- Peers: EV/EBITDA24.23 – 32.49 (Mid 29.64)8 companies used · median multiple 14.5x · quartiles 11.5x – 16.1xBAX, BDX, BSX, EMBC, INFU, MMM, RMD, SYK
- Peers: P/E4.25 – 33.65 (Mid 24.17)12 companies used · median multiple 23.5x · quartiles 4.1x – 32.8xBDX, BSX, DRIO, DXCM, EMBC, ICCM, INFU, MMM, PLSM, RMD, SYK, WST
- Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Neutral profile · Score 74/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 15.3% | 78 (vs peers) | 12% |
| Net margin · Quality | 6.7% | 80 (vs peers) | 7% |
| FCF conversion · Quality | 121.9% | 100 (on a fixed band) | 7% |
| Revenue CAGR 3Y · Growth | 10.1% | 84 (on a fixed band) | 10% |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | -1.9x | 90 (vs peers) | 12% |
| Interest coverage · Balance sheet | 431.5x | 100 (on a fixed band) | 7% |
| Current ratio · Balance sheet | 3.5x | 100 (on a fixed band) | 5% |
| P/E (TTM) · Valuation | 26.5x | 46 (vs peers) | 12% |
| EV/EBITDA · Valuation | 13.2x | 70 (vs peers) | 12% |
| FCF yield · Valuation | 4.8% | 60 (on a fixed band) | 10% |
| Shareholder yield (distributions) · Returns | 2.1% | 29 (on a fixed band) | 7% |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet95/100 · 3/3 factors with a value
- Growth· partial84/100 · 1/2 factors with a value
- Quality84/100 · 3/3 factors with a value
- Returns· partial29/100 · 1/2 factors with a value
- Valuation59/100 · 3/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
Tactile Systems Technology, Inc. (TCMD). Latest full fiscal year: 2025; data up to 2026-09-30.
Figures computed from the financial statements: revenue 329.5 m USD in 2025; YoY growth 12.5%; net margin 6.7%; ROE 11.0%; net debt/EBITDA -1.9x.
The estimated value range is 22.63–32.67 USD per share (median of 3 methods, agreement: high); assumptions are illustrative. Against the central value of 26.55 USD, the price of 27.18 USD leaves a potential of -2.3% (value / price − 1) and a margin of safety of -2.4% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 74/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: growth, returns. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- ROIC: 15.3%
- Net margin: 6.7%
- FCF conversion: 121.9%
- Revenue CAGR 3Y: 10.1%
- Net debt / EBITDA: -1.9x
- Interest coverage: 431.5x
- Current ratio: 3.5x
- EV/EBITDA: 13.2x
What contradicts it
- Shareholder yield (distributions): 2.1%
Not assessed (insufficient data or a ratio without meaning): EPS CAGR 3Y, Payout ratio (FCF).
Versus the vertical median
Surgical & Medical Instruments & Apparatus (SIC 3841) · same industry (4-digit SIC) · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| SYKStryker Corp | 118.2 bn | 33.1 | 16.0% | 13.8% | +11.2% | −16% / +5% |
| MMM3m Company | 91.5 bn | 26.4 | 80.8% | 14.0% | +1.5% | +3% / +114% |
| BSXBoston Scientific Corporation | 63.1 bn | 18.4 | 14.3% | 16.6% | +19.9% | −57% / −22% |
| BDXBecton, Dickinson And Company | 54.0 bn | 59.8 | 3.8% | 4.0% | +8.2% | +30% / +7% |
| RMDResMed Inc. | 31.9 bn | 20.7 | 26.4% | 27.8% | +9.9% | −11% / +44% |
| DXCMDexcom, Inc. | 30.9 bn | 32.7 | 37.7% | 19.4% | +15.6% | +31% / −28% |
| WSTWest Pharmaceutical Services, Inc. | 28.4 bn | 45.7 | 21.2% | 18.8% | +6.3% | +47% / +16% |
| BAXBaxter International Inc. | 13.7 bn | — | -10.5% | -6.2% | +5.7% | +41% / −27% |
| KMTSKestra Medical Technologies, Ltd. | 1.8 bn | — | -73.7% | -140.4% | +59.0% | +13% / unavailable |
| TNDMTandem Diabetes Care, Inc. | 1.3 bn | — | -48.0% | -6.1% | +7.9% | −9% / −6% |
| AORTArtivion, Inc. | 1.3 bn | — | -0.7% | -0.7% | +13.6% | −43% / +49% |
| SIBNSi-Bone, Inc. | 1.1 bn | — | -7.7% | -6.2% | +20.2% | +28% / +32% |
| BBNXBeta Bionics, Inc. | 921.5 m | — | -23.9% | -65.3% | +53.9% | −46% / unavailable |
| KIDSOrthoPediatrics Corp | 875.0 m | — | -9.8% | -12.8% | +15.4% | +81% / +9% |
| TCMDTactile Systems Technology, Inc. | 608.9 m | 26.5 | 11.0% | 6.7% | +12.5% | +23% / +111% |
| DCTHDelcath Systems, Inc. | 514.2 m | 1,195.5 | 0.5% | 0.6% | +129.1% | +53% / +439% |
| CERSCerus Corp | 487.7 m | — | -10.7% | -2.9% | +16.1% | +37% / +50% |
| MDXGMimedx Group, Inc. | 467.0 m | — | -8.5% | -6.3% | +20.0% | −53% / −59% |
| EMBCEmbecta Corp. | 369.4 m | 4.4 | — | 8.6% | −3.8% | −49% / −64% |
| INFUInfusystem Holdings, Inc | 261.9 m | 32.3 | 15.0% | 6.0% | +6.4% | +42% / +31% |
| TLSITriSalus Life Sciences, Inc. | 239.5 m | — | — | -62.6% | +53.4% | −43% / −3% |
| STIMNeuronetics, Inc. | 206.1 m | — | -135.3% | -19.6% | +99.2% | +82% / +49% |
| GUTSFractyl Health, Inc. | 154.8 m | — | — | — | −100.0% | −95% / unavailable |
| MBOTMicrobot Medical Inc. | 76.6 m | — | -32.9% | — | unavailable | −53% / −10% |
| ICCMIceCure Medical Ltd. | 57.8 m | 3.3 | -188.8% | -445.6% | +2.7% | −96% / −98% |
1- and 3-year price returns: for TCMD from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 17.57 Total return -35% · Per year -35% | 30.98 Total return 14% · Per year 14% | 46.56 Total return 71% · Per year 71% |
| 3 years | 19.03 Total return -30% · Per year -11% | 37.57 Total return 38% · Per year 11% | 61.70 Total return 127% · Per year 31% |
| 5 years | 20.61 Total return -24% · Per year -5% | 45.55 Total return 68% · Per year 11% | 81.76 Total return 201% · Per year 25% |
- Exit P/E± 9.39
- Net margin± 6.57
- Annual revenue growth± 5.12
- Annual dilution± 0.55
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 10 Aug 2026; since then the company filed 10-Q/A (03 Nov 2026), 8-K (02 Nov 2026 · results), 10-Q (02 Nov 2026).
In brief
Tactile Medical develops and sells medical devices for at-home treatment of lymphedema, chronic venous insufficiency and chronic respiratory conditions. The company reported revenue of 329.5 million USD for fiscal 2025 1, and in the second quarter of 2026 revenue grew 9% 3.
SWOT
Strengths
Weaknesses
Opportunities
Risks
- Medicare coveragehigh
Changes to national or local coverage decisions could reduce revenue from compression products 1.
- Price pressuremedium
Private payers could seek price reductions, which could reduce gross margin 1.
- DME providersmedium
If DME distributors reduce orders, AffloVest volumes could decline 1.
- Cybersecuritymedium
An attack on information systems could disrupt operations and patient data 1.
- Supply chainmedium
Disruption at a single-source supplier could limit production and shipments 1.
Investment thesis
What would need to be true (bull case)
What to watch
- Ritmul comenzilor AffloVest la furnizorii DMEQ3 2026
- AffloVest order pace at DME providersQ3 2026
- Effect of Medicare prior authorization on denials2026
- LymphaTech integration and related revenue2026
- Fiscal 2026 revenue guidancenext 10-K
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 10 Aug 2026; since then the company filed 10-Q/A (03 Nov 2026), 8-K (02 Nov 2026 · results), 10-Q (02 Nov 2026).
The business
Tactile Systems Technology, Inc. is a medical technology company that develops and provides devices for underserved chronic diseases with a focus on home care 1. Its direct-to-patient and -provider model in lymphedema includes referrals from clinicians, claims management and patient training 1. For respiratory therapy, it sells AffloVest through accredited DME providers 1.
The company launched its AffloVest Gen 6 in June 2026 after FDA clearance in April 2026 2. The LymphaTech acquisition, completed in February 2026, adds a digital 3D body measurement platform for lymphedema 2. The ElastiMed agreement gives exclusive VA and DoD distribution rights for MyoSleeve 2.
The company operates as one segment for financial reporting and relies on third-party suppliers for components and controller assembly 12. The Kylee app lets patients track treatments and symptoms 1.
Segments
Market context
The company estimates that more than 16 million people in the United States live with lymphedema due to chronic venous insufficiency 1. Bronchiectasis affects over 500,000 US adults and could be growing at a high single-digit annual rate 1.
The market is shaped by Medicare coverage decisions and private payer reimbursement, which can change access conditions 1. The company operates mainly in the United States 1.
Trends
- New Medicare prior authorizationheadwind
From April 2026 Medicare requires prior authorization for pneumatic compression devices, which could raise claim denials and delays 1.
- Oncology expansiontailwind
The randomized trial of Flexitouch Plus in head and neck cancer-related lymphedema, with six-month results published in 2026, could support clinical adoption 3.
- Payer price pressureheadwind
The company expects pricing pressure from private insurers, which could slow revenue growth 1.
- DME inventory levelsmixed
The AffloVest launch has created temporary inventory adjustments at some DME providers, which could affect near-term orders 3.
Competitive position
The company competes with other pneumatic compression and respiratory therapy suppliers, although the sources do not name specific competitors. Its advantage rests on the at-home care platform and investments in reimbursement and clinical support 1.
If new manufacturers enter the market, clinical differentiation and reimbursement coverage could become the main decision criteria 1.
- Pneumatic compression device suppliers
Sources do not name specific competitors; competition is described in general terms 1.
- Respiratory DME providers
DME distributors are the main channel for AffloVest and can influence volumes 1.
- Bronchiectasis therapy makers
Sources mention a drug approved in 2025 as complementary therapy, not a direct competitor 1.
- Other home medical device makers
Not identified in the analysed sources.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
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News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Quarterly report (amendment)03 Nov 2026
- Quarterly report (amendment)03 Nov 2026
- Quarterly report02 Nov 2026
- Current report02 Nov 2026Results of operations · Financial statements and exhibits
- Quarterly report10 Aug 2026
- Current report10 Aug 2026Results of operations · Financial statements and exhibits
- Current report13 Jul 2026Regulation FD disclosure · Other events · Financial statements and exhibits
- Current report07 May 2026Amendments to articles or bylaws · Shareholder vote · Financial statements and exhibits
- Quarterly report04 May 2026
- Current report04 May 2026Results of operations · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Tactile Systems Technology, Inc. · 17 Feb 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Tactile Systems Technology, Inc. · 10 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Tactile Systems Technology, Inc. · 10 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.