Electromed, Inc. (AMEX:ELMD) Q2 2024 Earnings Call Transcript

Jim Cunniff: No, I appreciate, Aaron, the questions that you’ve provided to us. The hospital market, again, it’s a pretty nascent market for us right now. And we just introduced the hospital — the Clearway device for the hospital in the last quarter. So it’s early days there. Our business grew 5% in the quarter. But the selling cycle within the hospital market is a lot longer than the home market. And so we’re anticipating that we’re going to see improvements in that space. Also, as I mentioned in my remarks, one of our opportunities, I believe, is to work with some distributors who have a stronger footprint within that market space because our sales reps are really predominantly focused on selling to pulmonologists and clinics.

And so when we do pick up hospital business many times it’s because we have a relationship with the pulmonologist, who’s rounding within that facility and wants to have access to a best-in-class product. So we feel great about the new product that we’ve introduced but we still, I think, have some opportunities to make sure that in going after that hospital market, we’re not distracting our sales reps from their primary call point which is the clinic.

Aaron Wukmir: Got you. Okay, makes total sense. And congrats on the strong quarter. We’re excited to keep following you guys.

Jim Cunniff: I appreciate it and thanks for the questions. Well, unless there’s no other questions, I’m going to wrap up the call and thank everybody for joining the call today and thank you for your continued support of Electromed. As I mentioned, I’m excited to continue executing against our growth and profitability plans. If we can do that, we will continue to drive increased value to our shareholders. And that’s one of our primary objectives. If you’re interested in the follow-up call, please contact our Investor Relations partners at ICR Westwicke. I appreciate your time today and appreciate your investment in Electromed. Thank you, everybody.

Operator: Thank you. That concludes today’s conference call. All parties may now disconnect. Have a good day.