Electromed has achieved consistent revenue growth of 18.4% year-over-year in 2026Q3 while maintaining structural gross margins near 78.8%.
| Metric | TTM | Jun'25 | Jun'24 | Jun'23 | Jun'22 | Jun'21 | Jun'20 | Jun'19 | Jun'18 | Jun'17 | Jun'16 | Jun'15 | Jun'14 | Jun'13 | Jun'12 | Jun'11 | Jun'10 | Jun'09 | Jun'08 |
|---|
| Sales/Revenue | 71.75M | 64M | 54.72M | 48.07M | 41.66M | 35.76M | 32.47M | 31.3M | 28.31M | 25.86M | 22.99M | 19.41M | 15.49M | 15.1M | 19.52M | 19M | 14.3M | 13M | 8.75M |
| Revenue Growth % | 16.79% | 16.97% | 13.83% | 15.38% | 16.51% | 10.12% | 3.74% | 10.57% | 9.46% | 12.48% | 18.46% | 25.31% | 2.54% | -22.64% | 2.74% | 32.86% | 10.04% | 48.52% | - |
| Cost of Goods Sold | 15.47M | 14.03M | 12.99M | 11.55M | 10.22M | 8.45M | 7.27M | 7.45M | 6.53M | 5.29M | 5.12M | 5.81M | 4.85M | 4.66M | 5.38M | 5.23M | 3.93M | 3.34M | 2.15M |
| COGS % of Revenue | - | 21.92% | 23.74% | 24.02% | 24.53% | 23.64% | 22.39% | 23.81% | 23.08% | 20.47% | 22.25% | 29.93% | 31.34% | 30.82% | 27.55% | 27.5% | 27.44% | 25.7% | 24.53% |
| Gross Profit | 56.28M | 49.97M | 41.73M | 36.52M | 31.44M | 27.3M | 25.2M | 23.85M | 21.77M | 20.57M | 17.88M | 13.6M | 10.63M | 10.45M | 14.15M | 13.78M | 10.38M | 9.66M | 6.61M |
| Gross Margin % | 78.44% | 78.08% | 76.26% | 75.98% | 75.47% | 76.36% | 77.61% | 76.19% | 76.92% | 79.53% | 77.75% | 70.07% | 68.66% | 69.18% | 72.45% | 72.5% | 72.56% | 74.3% | 75.47% |
| Gross Profit Growth % | - | 19.76% | 14.26% | 16.15% | 15.15% | 8.35% | 5.67% | 9.53% | 5.85% | 15.06% | 31.44% | 27.89% | 1.77% | -26.13% | 2.67% | 32.75% | 7.45% | 46.23% | - |
| Operating Expenses | 42.98M | 40.1M | 35.15M | 32.51M | 28.47M | 24.16M | 20.08M | 21.02M | 19.06M | 17M | 14.77M | 12.29M | 11.37M | 12.28M | 13.54M | 11.91M | 8.58M | 7.2M | 6.27M |
| OpEx % of Revenue | - | 62.65% | 64.23% | 67.64% | 68.34% | 67.58% | 61.85% | 67.15% | 67.33% | 65.73% | 64.23% | 63.32% | 73.44% | 81.28% | 69.34% | 62.66% | 60% | 55.41% | 71.65% |
| Selling, General & Admin | 41.69M | 39.1M | 34.49M | 31.59M | 27.11M | 22.44M | 19.95M | 20.44M | 18.81M | 16.4M | 14.39M | 11.97M | 10.91M | 11.67M | 12.62M | 10.87M | 7.98M | 6.85M | 6M |
| SG&A % of Revenue | - | 61.1% | 63.03% | 65.73% | 65.09% | 62.77% | 61.42% | 65.29% | 66.45% | 63.42% | 62.57% | 61.7% | 70.43% | 77.28% | 64.63% | 57.22% | 55.8% | 52.66% | 68.55% |
| Research & Development | 1.29M | 996K | 656K | 916K | 1.36M | 1.72M | 1.05M | 583.31K | 251.44K | 596.88K | 380.39K | 315.65K | 466.06K | 603.38K | 920.77K | 1.03M | 600.99K | 357.87K | 271.24K |
| R&D % of Revenue | - | 1.56% | 1.2% | 1.91% | 3.26% | 4.82% | 3.23% | 1.86% | 0.89% | 2.31% | 1.65% | 1.63% | 3.01% | 3.99% | 4.72% | 5.44% | 4.2% | 2.75% | 3.1% |
| Other Operating Expenses | 0 | 0 | 0 | 0 | 0 | 0 | -913K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | 13.31M | 9.87M | 6.58M | 4.01M | 2.97M | 3.14M | 5.12M | 2.83M | 2.71M | 3.57M | 3.11M | 1.31M | -740.59K | -1.83M | 606.34K | 1.87M | 1.8M | 2.46M | 334.22K |
| Operating Margin % | 18.55% | 15.43% | 12.03% | 8.34% | 7.13% | 8.78% | 15.76% | 9.04% | 9.58% | 13.8% | 13.52% | 6.75% | -4.78% | -12.1% | 3.11% | 9.84% | 12.56% | 18.89% | 3.82% |
| Operating Income Growth % | - | 50.01% | 64.2% | 34.86% | -5.35% | -38.65% | 80.87% | 4.33% | -24.01% | 14.8% | 137.32% | 276.91% | 59.47% | -401.38% | -67.57% | 4.12% | -26.86% | 634.72% | - |
| EBITDA | 14.51M | 11.04M | 7.42M | 4.62M | 3.6M | 3.75M | 5.86M | 3.75M | 3.5M | 4.32M | 3.85M | 2.05M | -45.05K | -1.24M | 1.14M | 2.32M | 2.15M | 2.77M | 602.62K |
| EBITDA Margin % | 20.22% | 17.26% | 13.56% | 9.61% | 8.64% | 10.49% | 18.04% | 12% | 12.37% | 16.72% | 16.74% | 10.54% | -0.29% | -8.19% | 5.83% | 12.21% | 15.01% | 21.34% | 6.89% |
| EBITDA Growth % | 45.97% | 48.8% | 60.61% | 28.36% | -4% | -36% | 56.04% | 7.21% | -19.01% | 12.38% | 88.04% | 4642.94% | 96.36% | -208.65% | -50.89% | 7.99% | -22.59% | 360.42% | - |
| D&A (Non-Cash Add-back) | 1.2M | 1.17M | 841K | 613K | 628K | 610K | 741K | 925.23K | 790.03K | 755.13K | 738.7K | 736.22K | 695.55K | 589.86K | 532.63K | 449.47K | 351.75K | 318.94K | 268.39K |
| EBIT | 13.31M | 9.87M | 6.58M | 4.01M | 2.97M | 3.14M | 5.12M | 2.83M | 2.71M | 3.57M | 3.11M | 1.31M | -740.59K | -1.83M | 606.34K | 1.88M | 1.8M | 2.46M | 359.04K |
| Net Interest Income | 478K | 624K | 455K | 78K | 25K | 39K | 121K | 90.71K | 19.87K | -49.87K | -66.81K | -85.71K | -79K | -116.88K | -168.73K | -191.33K | -263.43K | -270.45K | -476.87K |
| Interest Income | 478K | 624K | 455K | 78K | 25K | 39K | 120.75K | 90.71K | 19.87K | 17.04K | 0 | 284 | 12.39K | 16.72K | 8.4K | 0 | 6.42K | 8.75K | 24.82K |
| Interest Expense | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 66.91K | 66.81K | 85.99K | 91.39K | 133.56K | 177.13K | 191.33K | 269.85K | 279.19K | 501.69K |
| Other Income/Expense | 266K | 412K | 455K | 78K | 25K | 27K | 121K | 90.71K | 19.87K | -49.87K | -66.81K | -85.71K | -79K | -116.88K | -168.73K | -191.33K | -263.43K | -270.45K | -476.87K |
| Pretax Income | 13.57M | 10.28M | 7.04M | 4.09M | 3M | 3.17M | 5.24M | 2.92M | 2.73M | 3.52M | 3.04M | 1.22M | -819.59K | -1.94M | 437.61K | 1.68M | 1.53M | 2.19M | -142.65K |
| Pretax Margin % | 18.92% | 16.07% | 12.86% | 8.5% | 7.19% | 8.86% | 16.13% | 9.33% | 9.65% | 13.61% | 13.23% | 6.31% | -5.29% | -12.87% | 2.24% | 8.83% | 10.71% | 16.81% | -1.63% |
| Income Tax | 3.47M | 2.75M | 1.89M | 920K | 692K | 805K | 1.08M | 940K | 901K | 1.29M | 830K | 132K | 469K | -615K | 251K | 623K | 599K | 830K | -427K |
| Effective Tax Rate % | 25.56% | 26.71% | 26.81% | 22.52% | 23.09% | 25.42% | 20.58% | 32.19% | 32.98% | 36.65% | 27.28% | 10.78% | -57.22% | 31.63% | 57.36% | 37.11% | 39.09% | 37.98% | 299.33% |
| Net Income | 10.1M | 7.54M | 5.15M | 3.17M | 2.31M | 2.36M | 4.16M | 1.98M | 1.83M | 2.23M | 2.21M | 1.09M | -1.29M | -1.33M | 186.61K | 1.06M | 916.34K | 1.33M | 267.85K |
| Net Margin % | 14.08% | 11.78% | 9.41% | 6.59% | 5.53% | 6.61% | 12.81% | 6.33% | 6.47% | 8.62% | 9.62% | 5.63% | -8.32% | -8.8% | 0.96% | 5.55% | 6.41% | 10.25% | 3.06% |
| Net Income Growth % | 41.1% | 46.35% | 62.67% | 37.35% | -2.41% | -43.23% | 110.12% | 8.15% | -17.87% | 0.77% | 102.52% | 184.78% | 3.06% | -812.34% | -82.32% | 15.2% | -31.25% | 397.63% | - |
| Net Income (Continuing) | 10.1M | 7.54M | 5.15M | 3.17M | 2.31M | 2.36M | 4.16M | 1.98M | 1.83M | 2.23M | 2.21M | 1.09M | -1.29M | -1.33M | 186.61K | 1.06M | 933.54K | 1.36M | 284.35K |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 6.6K | 4.66K |
| EPS (Diluted) | 1.17 | 0.86 | 0.58 | 0.36 | 0.26 | 0.27 | 0.47 | 0.23 | 0.22 | 0.26 | 0.27 | 0.13 | -0.16 | -0.16 | 0.02 | 0.13 | 0.15 | 0.22 | 0.04 |
| EPS Growth % | 48.1% | 48.28% | 61.11% | 38.46% | -3.7% | -42.55% | 104.35% | 4.55% | -15.38% | -3.7% | 107.69% | 181.25% | 0% | -900% | -84.62% | -13.33% | -31.82% | 450% | - |
| EPS (Basic) | - | 0.90 | 0.60 | 0.37 | 0.27 | 0.28 | 0.50 | 0.24 | 0.23 | 0.27 | 0.27 | 0.13 | -0.16 | -0.16 | 0.02 | 0.14 | 0.15 | 0.22 | 0.05 |
| Diluted Shares Outstanding | 8.65M | 8.72M | 8.86M | 8.7M | 8.77M | 8.91M | 8.83M | 8.63M | 8.62M | 8.46M | 8.25M | 8.15M | 8.11M | 8.11M | 8.11M | 7.84M | 6.11M | 6.02M | 6.45M |
| Basic Shares Outstanding | 8.21M | 8.33M | 8.56M | 8.46M | 8.47M | 8.57M | 8.4M | 8.31M | 8.21M | 8.17M | 8.14M | 8.12M | 8.05M | 8.11M | 8.11M | 7.82M | 6.08M | 5.99M | 5.44M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Single product concentration risk
According to the latest quarterly financial data, Electromed has achieved a consistent revenue growth trajectory, culminating in an 18.4% year-over-year increase in 2026Q3, which suggests that the company's specialized sales force expansion is successfully capturing a larger share of the bronchiectasis patient population.
The acceleration in top-line performance appears to be driven by effective market penetration rather than pricing adjustments, as the company continues to scale its SmartVest footprint. Investors should monitor whether this growth rate remains sustainable as the company approaches higher market saturation levels within its core US-centric home care segment.
As reported in recent income statements, Electromed has consistently maintained gross margins near 78%, a figure that highlights the significant clinical value proposition of its proprietary single-hose air pulse delivery system relative to the direct manufacturing costs of the hardware.
This high margin profile suggests a robust competitive moat, as the company avoids the commoditization pressures often seen in broader medical device categories. However, the stability of these margins remains contingent on the company's ability to navigate potential shifts in CMS reimbursement schedules and medical-grade component costs.
Based on the provided financial figures, Electromed has demonstrated improving operating leverage, with operating margins expanding to 20.3% in 2026Q3, indicating that the company is successfully managing its fixed SG&A costs while scaling its revenue base through its specialized clinical support infrastructure.
The ability to grow operating income faster than gross profit suggests that the company's high-touch reimbursement model is achieving economies of scale. Analysts should watch for any future divergence where SG&A growth might outpace revenue, which would signal a potential decline in sales force productivity.
Data from the most recent quarter indicates that Electromed's net income growth of 66.7% was achieved with zero stock-based compensation, suggesting that reported earnings are not being artificially inflated or diluted by non-cash equity grants common in the broader medical technology sector.
The absence of stock-based compensation in 2026Q3 highlights a conservative approach to capital management that prioritizes shareholder value. This clean earnings profile warrants further investigation into whether this trend is a permanent shift in compensation strategy or merely a temporary pause in equity-based incentives.
Quick answers to the most common questions about buying ELMD stock.
For fiscal year 2025, Electromed, Inc. (ELMD) reported total revenue of $64.0M. This represents a 631.3% increase compared to $8.8M in 2008.
Electromed, Inc. (ELMD) is profitable, generating $7.5M in net income for the fiscal year ending 2025 with a net profit margin of 11.8%.
Electromed, Inc. (ELMD) reported an operating income of $9.9M, resulting in an operating profit margin of 15.4%. This margin reflects the operational efficiency of the business before interest and taxes.
Electromed, Inc. (ELMD) generated $50.0M in gross profit for the year, representing a gross profit margin of 78.1%. This demonstrates the company's core pricing power and production efficiency.