In This Story
Electromed, Inc. has submitted its 10-Q filing for the quarterly period ended December 31, 2024.
The filing includes financial statements for the quarter, showing an increase in net revenues to $16,255,000 from $13,689,000 in the same quarter the previous year. This increase is attributed to higher sales in the homecare segment, driven by increased referrals and approvals.
Gross profit for the quarter was $12,627,000, representing 77.7% of net revenues, compared to 77.0% in the same quarter of the previous year. The increase in gross profit percentage is due to higher net revenue per device.
Selling, general, and administrative expenses rose to $9,834,000 from $8,175,000, primarily due to increased payroll and compensation-related expenses, including accelerated share-based compensation.
Research and development expenses increased to $251,000 from $107,000, reflecting higher headcount and external spending on product enhancements.
Operating income for the quarter was $2,542,000, up from $2,263,000 in the previous year, driven by increased revenue and gross profit.
Net income for the quarter was $1,968,000, compared to $1,674,000 in the previous year. The increase is primarily due to higher revenue and gross profit.
Cash provided by operating activities was $5,460,000, while cash used in investing and financing activities was $295,000 and $5,010,000, respectively.
Electromed had a working capital of $35,522,000 as of December 31, 2024. The company maintains a credit facility with a revolving line of credit of $2,500,000, which was not utilized during the quarter.
The filing also discusses the company's share repurchase program, under which $4,536,000 of shares have been repurchased as of December 31, 2024.
Electromed continues to focus on expanding its sales force and enhancing its product offerings in the homecare and hospital markets.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Electromed Inc. quarterly 10-Q report dated February 11, 2025. To report an error, please email earnings@qz.com.