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Electromed(ELMD) - 2025 Q1 - Quarterly Results
ELMDElectromed(ELMD)2024-11-12 21:05

Financial Performance - Net revenue increased by 19.0% to 14.7millioninQ1FY2025,upfrom14.7 million in Q1 FY 2025, up from 12.3 million in Q1 FY 2024[2] - Gross margin improved to 78.3% of net revenues, compared to 77.1% in the same quarter last year[2] - Operating income rose to 1.9million,representing13.21.9 million, representing 13.2% of revenue, compared to 0.1 million or 1.2% of revenue in Q1 FY 2024[2] - Net income was 1.5million,or1.5 million, or 0.16 per diluted share, compared to 0.2million,or0.2 million, or 0.02 per diluted share in Q1 FY 2024[2] - Net income for the three months ended September 30, 2024, increased to 1,474,000comparedto1,474,000 compared to 155,000 for the same period in 2023, representing a significant growth[17] Revenue Sources - Revenue from the direct homecare business increased by 18.5% to 13.2million,drivenbymorereferralsandanincreaseindirectsalesrepresentatives[5]−Theannualizedhomecarerevenueperweightedaveragedirectsalesrepresentativewas13.2 million, driven by more referrals and an increase in direct sales representatives[5] - The annualized homecare revenue per weighted average direct sales representative was 985,000, at the higher end of the target range of 900,000to900,000 to 1,000,000[5] Expenses and Cash Flow - Selling, general and administrative expenses were 9.4million,anincreaseof2.69.4 million, an increase of 2.6% compared to Q1 FY 2024[7] - Net cash provided by operating activities was 2,309,000, a turnaround from a cash outflow of 244,000intheprioryear[17]−Accountsreceivableincreasedby244,000 in the prior year[17] - Accounts receivable increased by 967,000, up from 675,000year−over−year,indicatinghighersalesordelayedcollections[17]−Cashandcashequivalentsattheendoftheperiodwere675,000 year-over-year, indicating higher sales or delayed collections[17] - Cash and cash equivalents at the end of the period were 13,864,000, compared to 7,024,000attheendofthesameperiodlastyear,reflectingimprovedliquidity[17]−Thecompanyexperiencedanetdecreaseincashof7,024,000 at the end of the same period last year, reflecting improved liquidity[17] - The company experienced a net decrease in cash of 2,216,000, compared to a decrease of 348,000intheprioryear,highlightingcashflowchallenges[17]−Expendituresforpropertyandequipmentwere348,000 in the prior year, highlighting cash flow challenges[17] - Expenditures for property and equipment were 37,000, down from 109,000,suggestingamoreconservativeinvestmentapproach[17]−Thecompanyreportedanetcashusedforinvestingactivitiesof109,000, suggesting a more conservative investment approach[17] - The company reported a net cash used for investing activities of 58,000, a decrease from 133,000inthepreviousyear,indicatingreducedcapitalexpenditures[17]ShareholderValueandCompensation−Thecompanyrepurchasedcommonstockamountingto133,000 in the previous year, indicating reduced capital expenditures[17] Shareholder Value and Compensation - The company repurchased common stock amounting to 4,536,000 during the period, indicating a strategy to return value to shareholders[17] - Share-based compensation expense rose to 697,000from697,000 from 371,000, reflecting increased employee compensation costs[17] Marketing and Leadership - The company launched a new marketing campaign called "Triple Down on Bronchiectasis," which has received positive feedback[3] - Electromed hired Peter Horwich as the new VP of Marketing to lead market development initiatives[3]