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Electromed(ELMD) - 2025 Q3 - Quarterly Results
ELMDElectromed(ELMD)2025-05-13 20:06

Financial Performance - Net revenues increased by 13.1% to 15.7millioninQ3FY2025,comparedto15.7 million in Q3 FY 2025, compared to 13.9 million in Q3 FY 2024[5] - Direct homecare business revenue grew by 14.8% to 14.1million,drivenbyincreasedreferralsandsalesefficiencies[6]−Grossprofitroseto14.1 million, driven by increased referrals and sales efficiencies[6] - Gross profit rose to 12.2 million, representing 78.0% of net revenues, up from 74.8% in the prior year[8] - Operating income increased by 16.2% to 2.1million,or13.62.1 million, or 13.6% of net revenues, compared to 13.3% in Q3 FY 2024[11] - Net income grew by 26.7% to 1.9 million, or 0.21perdilutedshare,comparedto0.21 per diluted share, compared to 1.5 million, or 0.17perdilutedshareintheprioryear[9]CashFlowandBalanceSheet−OperatingcashflowfortheninemonthsendedQ3FY2025was0.17 per diluted share in the prior year[9] Cash Flow and Balance Sheet - Operating cash flow for the nine months ended Q3 FY 2025 was 7.5 million, an increase of 3.0millionyear−over−year[9]−CashbalanceasofMarch31,2025,was3.0 million year-over-year[9] - Cash balance as of March 31, 2025, was 15.2 million, with total shareholders' equity at 43.9million[12]−Netcashprovidedbyoperatingactivitiesincreasedto43.9 million[12] - Net cash provided by operating activities increased to 7,534,000 from 4,578,000,representingagrowthof644,578,000, representing a growth of 64% year-over-year[23] - Cash and cash equivalents at the end of the period were 15,237,000, up from 11,712,000,indicatingayear−over−yearincreaseof30.511,712,000, indicating a year-over-year increase of 30.5%[23] - The beginning cash balance was 16,080,000, which decreased to 15,237,000bytheendoftheperiod,resultinginanetdecreaseof15,237,000 by the end of the period, resulting in a net decrease of 843,000[23] Expenses and Investments - Selling, general and administrative expenses rose by 17.2% to 9.8million,primarilyduetoincreasedpersonnelcosts[10]−Researchanddevelopmentexpensesincreasedto9.8 million, primarily due to increased personnel costs[10] - Research and development expenses increased to 277,000 from 167,000inQ3FY2024,reflectingongoinginvestmentinnewproductdevelopment[20]−Share−basedcompensationexpenseroseto167,000 in Q3 FY 2024, reflecting ongoing investment in new product development[20] - Share-based compensation expense rose to 2,409,000, compared to 1,250,000,reflectinga92.51,250,000, reflecting a 92.5% increase[23] Stock and Equity - The board approved a stock repurchase authorization of 5 million in Q3 FY 2025[9] - The company repurchased common stock amounting to 6,331,000duringtheperiod[23]−Thecompanyissuedcommonstockuponexerciseofoptionstotaling6,331,000 during the period[23] - The company issued common stock upon exercise of options totaling 381,000, up from 111,000inthepreviousyear[23]InventoryandReceivables−Accountsreceivableshowedanegativechangeof111,000 in the previous year[23] Inventory and Receivables - Accounts receivable showed a negative change of 109,000, contrasting with a positive change of 223,000inthepreviousyear[23]−Inventoriesincreasedby223,000 in the previous year[23] - Inventories increased by 564,000, compared to an increase of 78,000intheprioryear[23]Year−to−DatePerformance−NetincomefortheninemonthsendedMarch31,2025,was78,000 in the prior year[23] Year-to-Date Performance - Net income for the nine months ended March 31, 2025, was 5,333,000, an increase of 60.5% compared to $3,322,000 in 2024[23]