# Electromed, Inc. (ELMD) Q4 2025 Financial Results Summary
Electromed, Inc. (“Electromed”) (NYSE American: ELMD) announced its financial results for the fourth quarter ended June 30, 2025, on August 26, 2025. The company reported record quarterly revenues and operating income, marking the eleventh consecutive quarter of year-over-year revenue and operating income growth.
## Q4 FY 2025 Company Highlights
– **Net Revenue**: Increased **17.3%** to **$17.4 million** from **$14.8 million** in Q4 FY 2024.
– **Operating Income**: Record of **$3.0 million**, a **30.2%** increase from **$2.3 million** in the fourth quarter of FY 2024.
– **Net Income**: Increased to **$2.2 million**, or **$0.25** per diluted share, compared to **$1.8 million**, or **$0.20** per diluted share in Q4 FY 2024.
– **Russell Index Inclusion**: Electromed was added to the Russell 2000® and 3000® indexes in June 2025.
## FY 2025 Company Highlights
– **Net Revenue**: Grew **17.0%** to a record **$64.0 million**, up from **$54.7 million** in FY 2024.
– **Operating Income**: Increased **46.8%** to record **$9.7 million**, representing **15.1%** of net revenues.
– **Net Income**: Reached **$7.5 million**, or **$0.85** per diluted share, compared to **$5.2 million**, or **$0.58** per diluted share in FY 2024.
– **Cash Provided by Operations**: A record **$11.4 million** compared to **$9.1 million** in FY 2024.
– **Share Repurchase**: Electromed repurchased **$10.0 million** of its common stock throughout FY 2025.
## Q4 FY 2025 Detailed Metrics
– **Net Revenues**: Increased **17.3%** to **$17.4 million** from **$14.8 million** in Q4 FY 2024.
– Direct homecare business revenues increased **14.8%** to **$15.4 million**, up from **$13.4 million**.
– **Gross Profit**: Reached **$13.6 million**, **78.3%** of net revenues, up from **$11.3 million** (76.2%).
– **SG&A Expenses**: Amounted to **$10.3 million**, an increase of **17.0%** from the prior year due to higher personnel costs.
– **Operating Income**: Increased by approximately **30.2%** (from $2.3 million in Q4 FY 2024) to **$3.0 million**, **17.5%** of net revenues.
– **Net Income**: Increased **20.6%** to **$2.2 million**, or **$0.25** per diluted share, compared to **$1.8 million**, or **$0.20** per diluted share in Q4 FY 2024.
## FY 2025 Detailed Metrics
– **Net Revenues**: Rose **17.0%** to **$64.0 million** from **$54.7 million** in FY 2024.
– Direct homecare market revenues increased by **15.7%** to **$57.3 million** from **$49.5 million**.
– Non-homecare business grew **28.8%** to **$6.7 million** compared to **$5.2 million**.
– **Gross Profit**: Increased to **$50.0 million**, or **78.1%** of net revenues, from **$41.7 million** (76.3% of net revenues).
– **SG&A Expenses**: Totaled **$39.3 million**, an increase of **14.0%** from **$34.5 million** the previous year.
– **Operating Income**: Increased **47.8%** to **$9.7 million**, or **15.1%** of net revenues, compared to **$6.6 million**, or **12.0%** of net revenues in FY 2024.
– **Net Income**: Increased by **44.7%** to **$7.5 million**, or **$0.85** per diluted share, from **$5.2 million**, or **$0.58** in FY 2024.
## Balance Sheet Highlights as of June 30, 2025
– **Cash and Cash Equivalents**: **$15.3 million** (decreased by **$0.8 million** compared to FY 2024).
– **Accounts Receivable**: **$24.7 million** (compared to **$23.3 million** in FY 2024).
– **Total Shareholders’ Equity**: **$43.2 million** (decreased from **$44.5 million**).
– **Working Capital**: **$34.6 million**.
– **Total Assets**: **$53.8 million**, an increase from **$52.2 million**.
In conclusion, Electromed’s robust financial performance in Q4 FY 2025 and the full year reinforced its leadership position in airway clearance technologies, evidenced by significant revenue growth, strong operational income, and strategic initiatives, including the substantial share repurchase program undertaken over the fiscal year.
### Electromed, Inc. Condensed Statements of Operations
| Three Months Ended | Year Ended | ||||
|---|---|---|---|---|---|
| June 30, 2025 | 2024 | June 30, 2025 | 2024 | ||
| Net revenues | $17,393,000 | $14,832,000 | $64,000,000 | $54,716,000 | |
| Cost of revenues | 3,769,000 | 3,531,000 | 14,029,000 | 12,990,000 | |
| Gross profit | 13,624,000 | 11,301,000 | 49,971,000 | 41,726,000 | |
| Operating expenses | |||||
| Selling, general and administrative | 10,282,000 | 8,790,000 | 39,315,000 | 34,489,000 | |
| Research and development | 302,000 | 176,000 | 996,000 | 656,000 | |
| Total operating expenses | 10,584,000 | 8,966,000 | 40,311,000 | 35,145,000 | |
| Operating income | 3,040,000 | 2,335,000 | 9,660,000 | 6,581,000 | |
| Interest income, net | 135,000 | 162,000 | 624,000 | 455,000 | |
| Net income before income taxes | 3,175,000 | 2,497,000 | 10,284,000 | 7,036,000 | |
| Income tax expense | 971,000 | 669,000 | 2,747,000 | 1,886,000 | |
| Net income | $2,204,000 | $1,828,000 | $7,537,000 | $5,150,000 | |
| Income per share: | |||||
| Basic | $0.26 | $0.21 | $0.89 | $0.60 | |
| Diluted | $0.25 | $0.20 | $0.85 | $0.58 | |
| Weighted-average common shares outstanding: | |||||
| Basic | 8,334,821 | 8,601,206 | 8,454,100 | 8,562,245 | |
| Diluted | 8,718,900 | 8,997,310 | 8,914,421 | 8,864,585 | |
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### Electromed, Inc. Condensed Balance Sheets
| Assets | As of June 30, 2025 | 2024 |
|---|---|---|
| Current Assets | ||
| Cash and cash equivalents | $15,287,000 | $16,080,000 |
| Accounts receivable (net of allowances for credit losses of $45,000) | 24,660,000 | 23,333,000 |
| Contract assets | 1,036,000 | 719,000 |
| Inventories | 3,299,000 | 3,712,000 |
| Prepaid expenses and other current assets | 392,000 | 329,000 |
| Income tax receivable | 408,000 | — |
| Total current assets | 45,082,000 | 44,173,000 |
| Property and equipment, net | 4,714,000 | 5,165,000 |
| Finite-life intangible assets, net | 371,000 | 657,000 |
| Other assets | 1,173,000 | 87,000 |
| Deferred income taxes | 2,462,000 | 2,152,000 |
| Total assets | $53,802,000 | $52,234,000 |
| Liabilities and Shareholders’ Equity | ||
| Current Liabilities | ||
| Accounts payable | $2,667,000 | $1,010,000 |
| Accrued compensation | 5,079,000 | 3,893,000 |
| Income tax payable | — | 277,000 |
| Warranty reserve | 1,645,000 | 1,567,000 |
| Other accrued liabilities | 1,077,000 | 930,000 |
| Total current liabilities | 10,468,000 | 7,677,000 |
| Other long-term liabilities | 125,000 | 12,000 |
| Total liabilities | 10,593,000 | 7,689,000 |
| Shareholders’ Equity | ||
| Common stock, $0.01 par value per share, 13,000,000 shares authorized; 8,349,176 and 8,637,883 shares issued and outstanding, as of June 30, 2025, and June 30, 2024, respectively | 83,000 | 87,000 |
| Additional paid-in capital | 21,941,000 | 20,790,000 |
| Retained earnings | 21,185,000 | 23,668,000 |
| Total shareholders’ equity | 43,209,000 | 44,545,000 |
| Total liabilities and shareholders’ equity | $53,802,000 | $52,234,000 |
