10-K - Electromed, Inc. (0001488917) (Filer)

Wed, Aug 28, 8:45 PM (16 days ago)

Electromed, Inc. reported a significant increase in financial performance for the fiscal year ended June 30, 2024, with total revenue rising to $54,716,000, a 13.8% increase from $48,067,000 in the previous year. Homecare revenue, which constitutes the majority of sales, grew by 12.6% to $49,503,000. Net income surged by 62.7% to $5,150,000, attributed to revenue growth and improved operational efficiencies. Operating expenses increased by 9.2% to $34,489,000, primarily due to higher payroll and compensation costs. The company continues to focus on expanding its market position, particularly in the bronchiectasis segment, which is projected to grow at 12% annually. Strategic initiatives include enhancing sales force capabilities and increasing brand awareness. Electromed maintains a strong liquidity position with $16,080,000 in cash and equivalents and has renewed its credit facility, providing a revolving line of credit of $2,500,000. Risks include regulatory compliance, potential reimbursement challenges, and supply chain disruptions. Overall, Electromed is positioned for growth, leveraging its innovative SmartVest System and expanding market opportunities.