Electromed (ELMD) Q4 2026 earnings summary

Executive summary

• Achieved record net revenue of $73.8 million for FY 2026, up 15.3% year-over-year, and $19.4 million for Q4 FY 2026, up 12% from the prior year quarter, marking the 15th consecutive quarter of year-over-year revenue and profit growth, driven by the direct-to-patient model and SmartVest demand.

• Operating income reached $13.9 million for FY 2026 (18.8% margin), a 43.7% increase year-over-year, and $3.8 million for Q4 FY 2026, up 26% from the prior year quarter.

• Net income for FY 2026 was $11.3 million ($1.30 per diluted share), up from $7.5 million ($0.85 per diluted share) in FY 2025.

• CEO announced retirement effective April 2027, with succession planning in progress.

• Maintains a well-capitalized balance sheet with no debt and significant cash reserves.

Financial highlights

• FY 2026 net revenue was $73.8 million, up 15.3% from $64 million; home care revenue grew 16.3% to $66.6 million.

• Gross profit rose to $57.9 million (78.5% margin); Q4 gross profit was $15.3 million (78.7% margin).

• Operating income was $13.9 million (18.8% margin), up 43.7% year-over-year.

• Net income for the year was $11.3 million; EPS reached $1.30 per diluted share.

• Cash provided by operations was $9.7 million; ended FY 2026 with $20.5 million in cash and no debt.

Outlook and guidance

• Projecting double-digit top-line growth and continued operating leverage for FY 2027, with focus on expanding within the bronchiectasis market.

• Targeting home care revenue per rep of $1,050,000 to $1,150,000 in FY 2027, balancing productivity and sales team expansion.

• Expecting to fill 67 territories, including two hospital account liaisons.

• Plans to leverage commercial team and reimbursement expertise to accelerate growth.