The following is a summary of the Electromed, Inc. (ELMD) Q2 2024 Earnings Call Transcript:
Financial Performance:
Electromed's Q2 net revenue increased by 17% over the last year, reaching a record of $13.7 million.
Gross profit rose to $10.5 million or 77% of net revenues due to decreased shipping costs.
The company reported a record pre-tax income of $2.4 million and net income of $1.7 million, with earnings per share of $0.19.
Electromed has a strong financial position with $10.4 million in cash, no debt, and an increased working capital to $32.7 million.
Business Progress:
Electromed plans to grow its top line and capture operating leverage from growth investments.
Focus remains on treating bronchiectasis patients with SmartVest Airway Clearance technology.
Plans to engage with key opinion leaders and societies to establish treatment guidelines for bronchiectasis patients are in progress.
The company plans to continue its sales force expansion, expecting to hire 5 additional sales reps in the second half of their fiscal year.
Electromed has signed a distribution agreement with Marathon Medical to improve product access in government facilities.
The company is rolling out the SmartAdvantage program to enhance customer service and streamline order processes.
More details: Electromed IR
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