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Quipt Home Medical Corp. (symbol: QIPT) is a rapidly growing leader in the provision of clinical respiratory equipment and services to patients. The company offers a variety of in-home monitoring equipment, supplies, and services, designed to help patients manage their health conditions effectively from the comfort of their homes.
Core Services:
- Daily and Ambulatory Aides: Providing essential daily living aids and ambulatory equipment to enhance patient mobility and independence.
- Power Mobility: Offering power mobility solutions, including electric wheelchairs and scooters, improving patients' quality of life and independence.
- INR Self-Testing: Enabling patients to conduct INR self-testing at home, ensuring regular monitoring and management of anticoagulation therapy.
- Respiratory Equipment Rental: Supplying rental respiratory equipment to patients in need of temporary or long-term respiratory support.
- Home Ventilation: Providing advanced home ventilation solutions for patients requiring continuous respiratory support at home.
- Oxygen Therapy: Offering oxygen therapy services to patients with chronic respiratory conditions, ensuring they receive the necessary oxygen levels for optimal health.
- Sleep Apnea and PAP Treatment: Delivering personalized sleep apnea solutions, including Positive Airway Pressure (PAP) devices, to help patients achieve better sleep and overall health.
Quipt Home Medical Corp. has demonstrated strong financial performance, as evidenced by its recent report of an Adjusted EBITDA margin of 23.5% for Fiscal Q4 and 22.8% for the Fiscal Year 2023. This underscores the company's efficient operations and growing profitability.
Additionally, the company continues to expand its reach and impact through strategic partnerships and innovative projects. With a focus on improving patient outcomes and enhancing the quality of in-home healthcare services, Quipt Home Medical Corp. remains committed to its mission of providing accessible, high-quality healthcare solutions.
For the latest updates, financial performance, and detailed information, visit Quipt Home Medical Corp.
Quipt Home Medical (NASDAQ: QIPT) reported Q1 2025 financial results with revenue of $61.4 million, down 2% from Q1 2024's $62.6 million. The company faced challenges including the discontinuation of Medicare 75/25 blended rate, withdrawal of Medicare Advantage members, and non-renewal of a disposable supply contract, with a cumulative annual impact of approximately $8.0 million.
Key metrics include: net loss improvement to ($1.1) million or ($0.03) per share, operating cash flow of $9.3 million, and Adjusted EBITDA of $14.0 million (22.8% of revenue). The company maintains strong recurring revenue at 77% of total revenue and serves approximately 157,000 unique patients, a 1% year-over-year increase.
The company completed 221,000 unique set-ups/deliveries in Q1 2025, up 3% from Q1 2024, with 124,000 respiratory resupply set-ups/deliveries. Quipt operates across 140+ locations with approximately 36,000 referring physicians.
Quipt Home Medical Corp. (NASDAQ: QIPT) (TSX: QIPT), a U.S. based home medical equipment provider specializing in respiratory care, has received a proxy solicitation notice from Philotimo Fund, LP, affiliated with Kanen Wealth Management, (KWM). The notice indicates KWM's intention to nominate four director candidates to Quipt's Board of Directors in opposition to the company's candidates.
The company's Board and Nominating and Corporate Governance Committee will review KWM's notice for compliance with company Articles and applicable laws. Lead Independent Director Mark Greenberg emphasized the company's commitment to executing their strategic growth plan and maintaining high corporate governance standards. The company states it has delivered consistent performance despite challenging industry conditions.
Quipt notes that it has not received a timely, valid, and compliant director nomination notice under U.S. securities laws and company Articles. No immediate shareholder action is required.
Quipt Home Medical Corp. (NASDAQ: QIPT; TSX: QIPT), a U.S. based home medical equipment provider specializing in end-to-end respiratory care, has scheduled the release of its fiscal first quarter 2025 financial results for Monday, February 10, 2025, after market close.
The company will hold a conference call for investors on Tuesday, February 11, 2025, at 10:00 a.m. (ET), hosted by CEO Gregory Crawford and CFO Hardik Mehta. Participants can join via Canada/US Toll Free at 1 (844) 763 8274 or International at 1 (647) 484 8814. A live webcast will be available through the investor section of Quipt's website.
Quipt Home Medical (NASDAQ: QIPT) reported its fiscal year 2024 financial results, posting revenue of $245.9 million, a 16.2% increase from 2023's $211.7 million. The company achieved organic growth of $7.1 million (3%) and maintained strong recurring revenue at 78% of total revenue. Adjusted EBITDA reached $57.9 million (23.5% margin) compared to $50.6 million in 2023.
Q4 2024 revenue was $61.3 million, up 3% from Q4 2023, with sequential organic growth of 1%. The company faced challenges including a Medicare 75/25 relief pause and a cyberattack on Change Healthcare, impacting revenue by approximately $5 million and $3 million respectively. The customer base grew 4% year-over-year to 153,000 unique patients, with completed set-ups/deliveries increasing 13% to 854,000.
Quipt Home Medical Corp. (NASDAQ: QIPT) (TSX: QIPT), a U.S. based home medical equipment provider specializing in end-to-end respiratory care, has scheduled the announcement of its fiscal fourth quarter and full year 2024 financial results for December 16, 2024, after market close. The company will host a conference call for investors on December 17, 2024, at 10:00 a.m. ET, led by CEO Gregory Crawford and CFO Hardik Mehta. The call will be accessible via toll-free numbers for Canada/US participants and international callers, with a live webcast available through the company's investor relations website.
Quipt Home Medical Corp. (NASDAQ: QIPT; TSX: QIPT) reported its Q3 fiscal 2024 financial results. Key highlights include:
- Revenue increased 6.1% year-over-year to $64.0 million
- Organic growth contributed 3% year-over-year
- Adjusted EBITDA rose 2.7% to $14.2 million, representing 22.3% of revenues
- Net loss was $(1.7) million, or $(0.04) per diluted share
- Cash flow from operations for the nine months ended June 30, 2024, was $28.6 million
- The company served 270,087 unique patients in the nine months ended June 30, 2024, a 12.9% increase
Quipt faced challenges including the expiration of the Medicare 75/25 blended rate and the impact of the Change Healthcare cyber-attack. Despite these, the company maintains a strong balance sheet with a Net Debt to Adjusted EBITDA Leverage Ratio of 1.5x.
Quipt Home Medical Corp. (NASDAQ: QIPT) (TSX: QIPT), a U.S. based home medical equipment provider specializing in end-to-end respiratory care, has announced it will release its fiscal third quarter 2024 financial results on August 14, 2024, after market close. The company will host a conference call for investors on August 15, 2024, at 10:00 a.m. ET.
CEO Gregory Crawford and CFO Hardik Mehta will lead the call. Participants can join using the following numbers: Canada/US Toll Free: 1 (844) 763 8274, International: 1 (647) 484 8814. A live webcast will also be available on the company's investor relations website.
Quipt Home Medical (NASDAQ: QIPT; TSX: QIPT) announced its Q2 fiscal 2024 results, reporting a 10% increase in revenue to $64.0 million and a 14% increase in adjusted EBITDA to $14.9 million. Despite the expiration of the Medicare 75/25 blended rate and withdrawal of some Medicare Advantage members, the company maintained a strong adjusted EBITDA margin of 23.3%. Net income was a loss of $1.4 million, or $0.03 per diluted share. Cash flow from operations grew to $17.1 million for the six months ended March 31, 2024. Operational highlights include an 8% increase in unique patients served and a 6% increase in unique set-ups/deliveries. The company also announced a Normal Course Issuer Bid (NCIB) for share repurchases worth up to $5.0 million. Management highlighted resilience amid industry challenges and a strong balance sheet with $32.9 million in liquidity.
Quipt Home Medical Corp. (QIPT) announced the filing of its final base shelf prospectus, allowing the company to offer up to C$300,000,000 of common shares, preferred shares, debt securities, warrants, subscription receipts, and units over a 25-month period. The prospectus aims to provide access to new capital and securities for strategic acquisitions as needed.
Quipt Home Medical Corp. will release its fiscal second-quarter 2024 financial results on May 15, 2024. The Company, a U.S.-based home medical equipment provider specializing in respiratory care, will host a conference call the following day. The call-in details are provided for investors, and a webcast link will be available on the company's website.
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