Electromed, Inc. reported a significant increase in financial performance for the second quarter of fiscal 2025, with net revenues reaching $16.3 million, up 18.7% from $13.7 million in the same period last year. For the six months ended December 31, 2024, total revenues were $30.9 million, reflecting an 18.9% increase compared to $26.0 million for the same period in fiscal 2024. The company’s net income also rose to $1.97 million for the quarter, compared to $1.67 million in the prior year, and $3.44 million for the six-month period, up from $1.83 million.
The growth in revenue was driven primarily by increases in homecare sales, which rose by 15.2% to $14.6 million for the quarter, and 16.7% to $27.8 million for the six months. Hospital sales also saw a notable increase of 16.8% for the quarter and 25.5% for the half-year. The homecare distributor segment experienced a substantial surge, with revenues increasing by 188.2% for the quarter and 63.4% for the six months, attributed to timing of distributor purchases and heightened demand.
Operationally, Electromed has expanded its workforce, with field sales employees totaling 60 as of December 31, 2024, compared to 58 a year earlier. The company has also invested in its sales force and marketing efforts, which contributed to the increased revenue. Selling, general, and administrative expenses rose to $9.83 million for the quarter, reflecting a 20.3% increase, primarily due to higher payroll and compensation-related expenses. Research and development expenses also increased significantly, indicating a commitment to product enhancement and innovation.
Looking ahead, Electromed maintains a positive outlook, supported by a strong cash position of $16.2 million and no outstanding balance on its $2.5 million revolving line of credit. The company anticipates that its working capital and available borrowings will be sufficient to meet its operational needs over the next twelve months. However, management remains cautious about potential macroeconomic factors, including inflation and market conditions, which could impact future performance. The company continues to monitor these risks while focusing on expanding its market presence and enhancing its product offerings.
About Electromed, Inc.
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