UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 


 

FORM 8-K

 


 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

the Securities Exchange Act of 1934

 

Date of report (Date of earliest event reported): January 9, 2017

 


 

TACTILE SYSTEMS TECHNOLOGY, INC.

(Exact name of registrant as specified in its charter)

 


 

Delaware

 

001-37799

 

41-1801204

(State or other jurisdiction of

 

(Commission

 

(I.R.S. Employer

incorporation or organization)

 

File Number)

 

Identification No.)

 

1331 Tyler Street NE, Suite 200, Minneapolis, MN 55413

(Address of principal executive offices) (Zip Code)

 

(612) 355-5100

(Registrant’s telephone number, include area code)

 

N/A

(Former Name or Former Address, if Changed Since Last Report)

 


 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

o            Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o            Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o            Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o            Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 



 

Item 2.02.  Results of Operations and Financial Condition.

 

On January 9, 2017 we issued a press release disclosing our preliminary estimated revenue for 2016 and for our most recently completed fiscal quarter.  In accordance with General Instruction B.2 of Form 8-K, the information in this Current Report on Form 8-K, including Exhibit 99, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liability of that section, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933 or the Securities Exchange Act of 1934, except as shall be expressly set forth by specific reference in that filing.

 

Item 9.01. Financial Statements and Exhibits.

 

(d) Exhibits

 

Exhibit
No.

 

Description

 

 

 

99

 

Press Release dated January 9, 2017

 

2



 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

TACTILE SYSTEMS TECHNOLOGY, INC.

 

 

 

 

 

Date: January 9, 2017

By:

/s/ Lynn L. Blake

 

 

Lynn L. Blake

 

 

Chief Financial Officer

 

3



 

EXHIBIT INDEX

 

Exhibit
No.

 

Description

 

Method of Filing

 

 

 

 

 

99

 

Press Release dated January 9, 2017

 

Filed electronically

 

4


Exhibit 99

 

Tactile Systems Technology, Inc. Reports Preliminary Full Year and Fourth Quarter 2016 Revenue Results

 

FY’16 Revenue Increased 32% to 34% Year-over-Year; Fourth Quarter Revenue Increased 27% to 32% Year-Over-Year

 

MINNEAPOLIS, Jan. 9, 2017 — Tactile Systems Technology, Inc. (“Tactile Medical”) (Nasdaq: TCMD), a medical technology company that develops and provides innovative medical devices for the treatment of chronic diseases at home, today reported preliminary revenue results for the full year and fourth quarter ended December 31, 2016.

 

Preliminary Full Year 2016 Revenue Summary:

 

·                  Full year 2016 revenue is expected to be in the range of $83.0 million to $84.0 million, representing growth of approximately 32% to 34% year-over-year. Full year 2016 revenue is expected to be comprised of:

 

·                  Flexitouch® revenue in the range of $72.2 million to $72.9 million, representing growth of approximately 32% to 33% year-over-year.

 

·                  Revenue from other products, which consists of revenue from sales of the Company’s Entré™ and ACTitouch® Systems, in the range of $10.8 million to $11.1 million, representing growth of approximately 33% to 36% year-over-year.

 

Preliminary Fourth Quarter Revenue Summary:

 

·                  Fourth quarter total revenue is expected to be in the range of $26.9 million to $27.9 million, representing growth of approximately 27% to 32% year-over-year. Fourth quarter total revenue is expected to be comprised of:

 

·                  Flexitouch® revenue in the range of $24.2 million to $24.9 million, representing growth of approximately 30% to 34% year-over-year.

 

·                  Revenue from other products, which consists of revenue from sales of the Company’s Entré™ and ACTitouch® Systems, in the range of $2.7 million to $3.0 million, representing growth of approximately 9% to 19% year-over-year.

 

This financial information is preliminary and subject to completion of the company’s year-end financial reporting processes and audit.  Tactile Medical intends to report its full year and fourth quarter 2016 financial results in March and will provide the anticipated report date in a subsequent press release.

 

About Tactile Systems Technology, Inc.

 

Tactile Systems Technology, Inc. (“Tactile Medical”) is a medical technology company that develops and provides innovative medical devices for the treatment of chronic diseases at home. The Company is the sole manufacturer and distributor of the Flexitouch and Entré Systems, medical devices to help control symptoms of lymphedema, a chronic and progressive medical condition that is often an unintended consequence of cancer treatment, and the ACTitouch System, a medical device to treat venous leg ulcers and chronic venous insufficiency. The Company provides products for use both in the home and in health care institutions, including hospitals and vascular, wound and lymphedema clinics throughout the United States.  For

 



 

additional information, please visit http://www.tactilemedical.com. To receive future press releases via email, please visit Investors.tactilemedical.com.

 

Legal Notice Regarding Forward-Looking Statements:

 

This release contains forward-looking statements. Forward-looking statements are generally identifiable by the use of words like “may,” “will,” “should,” “could,” “expect,” “anticipate,” “estimate,” “believe,” “intend,” or “project” or the negative of these words or other variations on these words or comparable terminology. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties outside of the Company’s control that can make such statements untrue, including, but not limited to, the adequacy of the Company’s liquidity to pursue its complete business objectives; the Company’s ability to obtain reimbursement from third party payers for its products; loss or retirement of key executives; adverse economic conditions or intense competition; loss of a key supplier; entry of new competitors and products; adverse federal, state and local government regulation; technological obsolescence of the Company’s products; technical problems with the Company’s research and products; the Company’s ability to expand its business through strategic acquisitions; the Company’s ability to integrate acquisitions and related businesses; price increases for supplies and components; and the inability to carry out research, development and commercialization plans.  In addition, other factors that could cause actual results to differ materially are discussed in the Company’s filings with the SEC, including the final prospectus for the Company’s initial public offering. Investors and security holders are urged to read these documents free of charge on the SEC’s web site at http://www.sec.gov. The Company undertakes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.

 

Investor Inquiries:

 

Mike Piccinino, CFA

Managing Director

Westwicke Partners

433-213-0500

[email protected]

 

Media Inquiries:

 

Kristen Weaver

Director of Marketing Communications

Tactile Medical

612-355-5156

[email protected]