Elaine Birkemeyer
Chief Financial Officer at Tactile Systems
First quarter operating expenses increased $3,500,000 or 8% to $49,900,000 The change in GAAP operating expenses reflected a $200,000 increase in sales and marketing expenses, a $400,000 decrease in research and development expenses, and a $3,700,000 increase in reimbursement, general, and administrative expenses, including and primarily driven by strategic technology investments. Operating loss increased $1,600,000 or 53% to $4,500,000 Interest income increased $200,000 or 26% to $900,000 due to our increased cash position. Interest expense decreased $100,000 or 25% to $400,000 Income tax benefit increased $500,000 or 83% year over year to $1,100,000 Net loss increased $800,000 or 35 percent to $3,000,000 or $0.13 per diluted share compared to $2,200,000 or $09 per diluted share. Adjusted EBITDA decreased as expected to a loss of $300,000 compared to income of $1,000,000 With respect to our balance sheet, we had $83,600,000 in cash and cash equivalents and $25,500,000 of outstanding borrowings at quarter end. This compares to $94,400,000 in cash and $26,300,000 of outstanding borrowings as of 12/31/2024.
