The following is a summary of the Electromed, Inc. (ELMD) Q3 2024 Earnings Call Transcript:
Financial Performance:
Electromed reported Q3 2024 net revenue of $13.9 million, a growth of 15% YoY, and quarterly earnings of $1.5 million or $0.17 per diluted share.
Q3 2024 operating income was $1.8 million, up by 54% from the same period in the last fiscal year.
The company saw an increase in homecare revenue, hospital revenue, and homecare distributor revenue in Q3 2024.
Electromed maintains a healthy financial state, being debt-free with cash and equivalents worth $11.7 million at the end of Q3 2024.
Business Progress:
Electromed expanded its sales team in Q3 2024, driving further market penetration and supporting a larger pool of physician prescribers.
The company was recognized as the Corporate Partner of the Year by the California Society of Respiratory Care.
New educational resources have been launched with the goal of creating more awareness among providers about the benefits of using their technology in treating bronchiectasis patients.
The company has successfully mitigated the impact of a cyber attack on Change Healthcare, with 98% of delayed claims submissions resolved.
A new ERP system has been implemented that provides improved operational and financial insights.
Improved productivity within the reimbursement team has led to better leverage within the company's P&L.
Electromed is capable of attracting great talent due to their financial success and company culture.
The company continues to see upward trajectory with consistent growth and improved profitability, aligning with their goal of optimizing long-term shareholder value.
More details: Electromed IR
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