Record Revenues and Growth
Electromed reported record revenues of $16.3 million, marking the ninth consecutive quarter of year-over-year growth in revenue and net income. Operating income reached a record $2.5 million, while net income was $2 million or $0.22 per fully diluted share.
Diverse Segment Growth
The Hospital segment grew by 17%, and durable medical equipment distributor relationships saw year-over-year growth of 188%, reflecting strong demand.
Sales Team Expansion and Efficiency
The company increased its sales team to 54 direct sales reps, aiming for 57 by the end of Q3 FY 2025. Investments in a new CRM system are expected to enhance productivity.
Improved Financial Metrics
Gross profit increased to $12.6 million, or 77.7% of net revenues. SG&A expenses increased due to compensation costs and higher personnel numbers, but operating income still reached a record high.
Strong Cash Position
Electromed reported a cash balance of $16.2 million with no debt, achieving a working capital of $35.5 million and total shareholders' equity of $43.6 million.