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Viemed Healthcare Announces Record Second Quarter 2024 Financial Results

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Viemed Healthcare (NASDAQ:VMD) reported record second quarter 2024 financial results, with net revenues reaching $55.0 million, a 27% increase year-over-year and 9% sequential growth. The company achieved a net income of $1.5 million and Adjusted EBITDA of $12.8 million, up 31% from Q2 2023. Viemed's ventilator patient count grew to 10,905, a 4.4% sequential increase. The company maintains a strong financial position with $8.8 million in cash and $13.5 million in working capital. For Q3 2024, Viemed expects net revenues between $56.5 million and $57.7 million. CEO Casey Hoyt emphasized the company's strategy validation and leading position in complex respiratory care services.

Viemed Healthcare (NASDAQ:VMD) ha riportato risultati finanziari record per il secondo trimestre del 2024, con ricavi netti pari a 55,0 milioni di dollari, un aumento del 27% rispetto all'anno precedente e una crescita sequenziale del 9%. L'azienda ha raggiunto un utile netto di 1,5 milioni di dollari e un EBITDA rettificato di 12,8 milioni di dollari, in aumento del 31% rispetto al Q2 2023. Il numero di pazienti in ventilazione di Viemed è cresciuto a 10.905, con un incremento sequenziale del 4,4%. L'azienda mantiene una solida posizione finanziaria con 8,8 milioni di dollari in contante e 13,5 milioni di dollari in capitale circolante. Per il Q3 2024, Viemed prevede ricavi netti tra 56,5 milioni e 57,7 milioni di dollari. Il CEO Casey Hoyt ha sottolineato la validazione della strategia dell'azienda e la sua posizione di leader nei servizi complessi di cura respiratoria.

Viemed Healthcare (NASDAQ:VMD) reportó resultados financieros récord para el segundo trimestre de 2024, con ingresos netos alcanzando 55,0 millones de dólares, un aumento del 27% interanual y un crecimiento secuencial del 9%. La compañía logró un ingreso neto de 1,5 millones de dólares y un EBITDA ajustado de 12,8 millones de dólares, un aumento del 31% en comparación con el Q2 2023. La cantidad de pacientes con ventiladores de Viemed creció a 10.905, un incremento secuencial del 4,4%. La empresa mantiene una fuerte posición financiera con 8,8 millones de dólares en efectivo y 13,5 millones de dólares en capital de trabajo. Para el Q3 2024, Viemed espera ingresos netos entre 56,5 millones y 57,7 millones de dólares. El CEO Casey Hoyt enfatizó la validación de la estrategia de la empresa y su posición de liderazgo en servicios complejos de atención respiratoria.

Viemed Healthcare (NASDAQ:VMD)는 2024년 2분기 재무 실적이 기록적이라고 발표했습니다, 순수익이 5천5백만 달러에 도달하여 전년 대비 27% 증가하고, 전 분기 대비 9% 성장합니다. 회사는 150만 달러의 순이익1천2백80만 달러의 조정된 EBITDA를 달성했으며, 이는 2023년 2분기 대비 31% 증가한 수치입니다. Viemed의 인공호흡기 환자 수는 10,905명으로 증가하여 전 분기 대비 4.4% 증가했습니다. 이 회사는 8백8십만 달러의 현금1천3백50만 달러의 운전 자본을 보유하며 강력한 재무 위치를 유지하고 있습니다. 2024년 3분기에는 순수익이 5천6백50만 달러에서 5천7백70만 달러 사이에 이를 것으로 예상하고 있습니다. CEO Casey Hoyt는 회사의 전략 검증과 복잡한 호흡 관리 서비스에서의 선도적인 위치를 강조했습니다.

Viemed Healthcare (NASDAQ:VMD) a annoncé des résultats financiers record pour le deuxième trimestre 2024, avec des revenus nets atteignant 55,0 millions de dollars, soit une augmentation de 27 % par rapport à l'année précédente et une croissance séquentielle de 9 %. L'entreprise a enregistré un bénéfice net de 1,5 million de dollars et un EBITDA ajusté de 12,8 millions de dollars, en hausse de 31 % par rapport au T2 2023. Le nombre de patients sous ventilation chez Viemed a atteint 10.905, soit une augmentation séquentielle de 4,4 %. L'entreprise maintient une solide position financière avec 8,8 millions de dollars en liquidités et 13,5 millions de dollars en fonds de roulement. Pour le T3 2024, Viemed prévoit des revenus nets compris entre 56,5 millions et 57,7 millions de dollars. Le PDG Casey Hoyt a souligné la validation de la stratégie de l'entreprise et sa position de leader dans les services complexes de soins respiratoires.

Viemed Healthcare (NASDAQ:VMD) berichtete von rekordverdächtigen finanziellen Ergebnissen für das zweite Quartal 2024, mit Nettoumsätzen von 55,0 Millionen Dollar, was einem Anstieg von 27% im Vergleich zum Vorjahr und einem sequenziellen Wachstum von 9% entspricht. Das Unternehmen erzielte einen Nettogewinn von 1,5 Millionen Dollar und ein bereinigtes EBITDA von 12,8 Millionen Dollar, was einem Anstieg von 31% im Vergleich zum Q2 2023 entspricht. Die Anzahl der Patienten mit Beatmungsgeräten bei Viemed wuchs auf 10.905, ein sequenzieller Anstieg von 4,4%. Das Unternehmen hat eine starke finanzielle Position mit 8,8 Millionen Dollar in bar und 13,5 Millionen Dollar im Umlaufvermögen. Für das Q3 2024 erwartet Viemed Nettoumsätze zwischen 56,5 Millionen und 57,7 Millionen Dollar. CEO Casey Hoyt betonte die Validierung der Unternehmensstrategie und die führende Position im Bereich komplexer Atemwegspflegedienste.

Positive
  • Record Q2 2024 net revenues of $55.0 million, up 27% year-over-year
  • Adjusted EBITDA increased 31% to $12.8 million compared to Q2 2023
  • Ventilator patient count grew to a new record of 10,905, up 4.4% sequentially
  • Strong financial position with $8.8 million cash and $13.5 million working capital
  • Q3 2024 revenue guidance of $56.5-$57.7 million indicates continued growth
Negative
  • None.

Viemed Healthcare's Q2 2024 results are impressively strong. The company achieved $55.0 million in revenue, marking a 27% year-over-year increase and 9% sequential growth. This performance, coupled with a 31% increase in Adjusted EBITDA to $12.8 million, signals robust operational efficiency.

The growth in ventilator patient count to 10,905 indicates expanding market penetration. With a solid balance sheet showing $8.8 million in cash and $50.2 million available credit, Viemed is well-positioned for continued expansion. The projected Q3 revenue of $56.5-57.7 million suggests sustained momentum, making this a positive development for investors focused on growth in the healthcare sector.

Viemed's record-breaking Q2 results underscore the growing demand for home-based respiratory care. The 4.4% sequential increase in ventilator patients to 10,905 reflects both market expansion and Viemed's ability to capture market share. This trend aligns with the broader shift towards home healthcare, accelerated by recent global health events.

The company's focus on complex respiratory services in an underserved market presents a significant growth opportunity. However, investors should monitor potential challenges such as reimbursement changes or increased competition. Viemed's strong financial position and consistent growth trajectory suggest it's well-equipped to navigate these potential hurdles and capitalize on the expanding home healthcare market.

LAFAYETTE, La., Aug. 07, 2024 (GLOBE NEWSWIRE) -- Viemed Healthcare, Inc. (the “Company” or “Viemed”) (NASDAQ:VMD), a national leader in respiratory care and technology-enabled home medical equipment services, announced today that it has reported its financial results for the three and six months ended June 30, 2024.

Operational highlights (all dollar amounts are USD):

  • Net revenues for the quarter ended June 30, 2024 reached a new Company record of $55.0 million, representing an increase of $11.7 million, or 27%, over net revenues reported for the comparable quarter ended June 30, 2023. This represents 9% sequential growth in revenue over the first quarter ended March 31, 2024.
  • Net income for the quarter ended June 30, 2024 totaled $1.5 million. Adjusted EBITDA for the quarter ended June 30, 2024 totaled $12.8 million, a 31% increase as compared to the quarter ended June 30, 2023. A reconciliation of reported non-GAAP financial measures to their most directly comparable U.S. GAAP financial measures can be found in the tables accompanying this press release.
  • The Company grew its ventilator patient count to a new Company record of 10,905, a 4.4% sequential increase over the ventilator patient count on March 31, 2024.
  • As of June 30, 2024, the Company maintains a strong cash balance of $8.8 million and an overall working capital balance of $13.5 million. Long term debt as of June 30, 2024 amounted to $8.7 million and the Company has $50.2 million available under existing credit facilities.
  • The Company expects to generate net revenues of approximately $56.5 million to $57.7 million during the third quarter of 2024.

“The remarkable organic growth of our complex respiratory services continues to validate our strategy at Viemed,” said Casey Hoyt, Viemed's CEO. "Our second-quarter results demonstrate the substantial demand for these essential services and confirm Viemed’s leading position in meeting the needs for complex respiratory care. The addressable market remains largely underserved, and our performance this quarter is a testament to our unwavering commitment to profitable growth by addressing the critical needs of an underserved market."

Conference Call Details

The Company will host a conference call to discuss second quarter results on Thursday, August 8, 2024 at 11:00 a.m. ET.

Interested parties may participate in the call by dialing:

888-437-3179 (US Toll-Free)
+1 862-298-0702 (International)

Live Audio Webcast: https://event.choruscall.com/mediaframe/webcast.html?webcastid=V8qNtmZw

Following the conclusion of the call, an audio recording and transcript of the call can be accessed on the Company's website.

ABOUT VIEMED HEALTHCARE, INC.

Viemed is a provider of in-home medical equipment and post-acute respiratory healthcare services in the United States. Viemed’s service offerings are focused on effective in-home treatment with clinical practitioners providing therapy and counseling to patients in their homes using cutting edge technology. Visit our website at www.viemed.com.

For further information, please contact:

Glen Akselrod
Bristol Capital
905-326-1888
glen@bristolir.com

Todd Zehnder
Chief Operating Officer
Viemed Healthcare, Inc.
337-504-3802
investorinfo@viemed.com

Forward-Looking Statements

Certain statements contained in this press release may constitute “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 or “forward-looking information” as such term is defined in applicable Canadian securities legislation (collectively, “forward-looking statements”). Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “potential”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, “believes”, “projects”, or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results “will”, “should”, “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” or the negative of these terms or comparable terminology. All statements other than statements of historical fact, including those that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance, including the Company's net revenue guidance for the third quarter, are not historical facts and may be forward-looking statements and may involve estimates, assumptions and uncertainties that could cause actual results or outcomes to differ materially from those expressed in the forward-looking statements. Such statements reflect the Company's current views and intentions with respect to future events, and current information available to the Company, and are subject to certain risks, uncertainties and assumptions. Many factors could cause the actual results, performance or achievements that may be expressed or implied by such forward-looking statements to vary from those described herein should one or more of these risks or uncertainties materialize. These factors include, without limitation: the general business, market and economic conditions in the regions in which the Company operates; significant capital requirements and operating risks that the Company may be subject to; the ability of the Company to implement business strategies and pursue business opportunities; volatility in the market price of the Company's common shares; the state of the capital markets; the availability of funds and resources to pursue operations; inflation; reductions in reimbursement rates and audits of reimbursement claims by various governmental and private payor entities; dependence on few payors; possible new drug discoveries; dependence on key suppliers; granting of permits and licenses in a highly regulated business; competition; disruptions in or attacks (including cyber-attacks) on the Company's information technology, internet, network access or other voice or data communications systems or services; the evolution of various types of fraud or other criminal behavior to which the Company is exposed; difficulty integrating newly acquired businesses; the impact of new and changes to, or application of, current laws and regulations; the overall difficult litigation and regulatory environment; increased competition; increased funding costs and market volatility due to market illiquidity and competition for funding; critical accounting estimates and changes to accounting standards, policies, and methods used by the Company; the Company’s status as an emerging growth company; and the occurrence of natural and unnatural catastrophic events or health epidemics or concerns, and claims resulting from such events or concerns; as well as those risk factors discussed or referred to in the Company’s disclosure documents filed with the U.S. Securities and Exchange Commission (the “SEC”) available on the SEC’s website at www.sec.gov, including the Company’s most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q, and with the securities regulatory authorities in certain provinces of Canada available at www.sedar.com. Should any factor affect the Company in an unexpected manner, or should assumptions underlying the forward-looking statements prove incorrect, the actual results or events may differ materially from the results or events predicted. Any such forward-looking statements are expressly qualified in their entirety by this cautionary statement. Moreover, the Company does not assume responsibility for the accuracy or completeness of such forward-looking statements. The forward-looking statements included in this press release are made as of the date of this press release and the Company undertakes no obligation to publicly update or revise any forward-looking statements, other than as required by applicable law.

Use of Non-GAAP Financial Measures

This press release refers to Adjusted EBITDA, which is a financial measure that is not prepared in accordance with generally accepted accounting principles in the United States ("GAAP"). Adjusted EBITDA should be considered in addition to, not as a substitute for, or superior to, financial measures calculated in accordance with U.S. GAAP.

Management believes Adjusted EBITDA provides helpful information with respect to the Company’s operating performance as viewed by management, including a view of the Company’s business that is not dependent on the impact of the Company’s capitalization structure and items that are not part of the Company’s day-to-day operations. Management uses Adjusted EBITDA (i) to compare the Company’s operating performance on a consistent basis, (ii) to calculate incentive compensation for the Company’s employees, (iii) for planning purposes, including the preparation of the Company’s internal annual operating budget, and (iv) to evaluate the performance and effectiveness of the Company’s operational strategies. Accordingly, management believes that Adjusted EBITDA provides useful information in understanding and evaluating the Company’s operating performance in the same manner as management. Adjusted EBITDA is not a measurement of the Company’s financial performance under U.S. GAAP and should not be considered as an alternative to revenue or net income, as applicable, or any other performance measures derived in accordance with U.S. GAAP and may not be comparable to other similarly titled measures of other businesses. Adjusted EBITDA has limitations as an analytical tool and you should not consider it in isolation or as a substitute for analysis of the Company’s operating results as reported under U.S. GAAP. Adjusted EBITDA does not reflect the impact of certain cash charges resulting from matters the Company considers not to be indicative of ongoing operations; and other companies in the Company’s industry may calculate Adjusted EBITDA differently than we do, limiting its usefulness as a comparative measure.


VIEMED HEALTHCARE, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(Expressed in thousands of U.S. Dollars, except share amounts)
(Unaudited)
 
  At
June 30, 2024
 At
December 31, 2023
ASSETS    
Current assets    
Cash and cash equivalents $8,807 $12,839
Accounts receivable, net  27,063  18,451
Inventory  4,424  4,628
Income tax receivable  446  
Prepaid expenses and other assets  4,235  2,449
Total current assets $44,975 $38,367
Long-term assets    
Property and equipment, net  74,701  73,579
Finance lease right-of-use assets  125  401
Operating lease right-of-use assets  2,893  2,872
Equity investments  1,794  1,680
Debt investment  1,000  2,219
Deferred tax asset  4,558  4,558
Identifiable intangibles, net  912  567
Goodwill  32,989  29,765
Other long-term assets    887
Total long-term assets $118,972 $116,528
TOTAL ASSETS $163,947 $154,895
LIABILITIES    
Current liabilities    
Trade payables $6,334 $4,180
Deferred revenue  6,723  6,207
Income taxes payable    2,153
Accrued liabilities  16,801  17,578
Finance lease liabilities, current portion  111  256
Operating lease liabilities, current portion  737  678
Current portion of long-term debt  772  1,072
Total current liabilities $31,478 $32,124
Long-term liabilities    
Accrued liabilities  441  558
Finance lease liabilities, less current portion  28  132
Operating lease liabilities, less current portion  2,105  2,184
Long-term debt  8,715  6,002
Total long-term liabilities $11,289 $8,876
TOTAL LIABILITIES $42,767 $41,000
Commitments and Contingencies    
SHAREHOLDERS' EQUITY    
Common stock - No par value: unlimited authorized; 38,825,799 and 38,506,161 issued and outstanding as of June 30, 2024 and December 31, 2023, respectively  21,910  18,702
Additional paid-in capital  15,867  15,698
Retained earnings  81,594  79,495
TOTAL VIEMED HEALTHCARE, INC.'S SHAREHOLDERS' EQUITY $119,371 $113,895
Noncontrolling interest in subsidiary  1,809  
TOTAL SHAREHOLDERS' EQUITY  121,180  113,895
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $163,947 $154,895


VIEMED HEALTHCARE, INC.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(Expressed in thousands of U.S. Dollars, except outstanding shares and per share amounts)
(Unaudited)
 
 Three Months Ended June 30, Six Months Ended June 30,
  2024   2023   2024   2023 
Revenue$54,965  $43,311  $105,558  $82,867 
        
Cost of revenue 22,073   17,205   42,864   32,757 
        
Gross profit$32,892  $26,106  $62,694  $50,110 
        
Operating expenses       
Selling, general and administrative 26,503   20,563   51,317   40,325 
Research and development 758   758   1,508   1,538 
Stock-based compensation 1,620   1,471   3,052   2,862 
Depreciation and amortization 377   298   792   538 
Loss (gain) on disposal of property and equipment (545)  117   (332)  95 
Other expense (income), net 563   (2)  537   (83)
Income from operations$3,616  $2,901  $5,820  $4,835 
        
Non-operating income and expenses       
Income (expense) from investments (1,117)  137   (1,050)  172 
Interest income (expense), net (254)  20   (404)  69 
        
Net income before taxes 2,245   3,058   4,366   5,076 
Provision for income taxes 768   728   1,286   1,229 
Net income$1,477  $2,330  $3,080  $3,847 
Net income attributable to noncontrolling interest 9      9    
Net income attributable to Viemed Healthcare, Inc.$1,468  $2,330  $3,071  $3,847 
        
        
Net income per share       
Basic$0.04  $0.06  $0.08  $0.10 
Diluted$0.04  $0.06  $0.08  $0.10 
        
Weighted average number of common shares outstanding:       
Basic 38,822,980   38,324,249   38,558,479   38,240,902 
Diluted 40,553,449   40,676,951   40,313,042   40,383,616 


VIEMED HEALTHCARE, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Expressed in thousands of U.S. Dollars)
(Unaudited)
 
  Six Months Ended June 30,
   2024   2023 
Cash flows from operating activities    
Net income $3,080  $3,847 
Adjustments for:    
Depreciation and amortization  12,594   9,968 
Stock-based compensation expense  3,052   2,862 
Distributions of earnings received from equity method investments  147   392 
Income from equity method investments  (261)  (172)
Loss (income) from debt investment  1,219   (110)
Loss (gain) on disposal of property and equipment  (332)  95 
Amortization of deferred financing costs  85    
Deferred income tax benefit     (725)
Changes in working capital:    
Accounts receivable, net  (8,225)  (500)
Inventory  470   (320)
Prepaid expenses and other assets  1,523   2,076 
Trade payables  1,114   (488)
Deferred revenue  394   604 
Accrued liabilities  (904)  1,593 
Income tax payable/receivable  (2,599)  (1,003)
Net cash provided by operating activities $11,357  $18,119 
Cash flows from investing activities    
Purchase of property and equipment  (14,940)  (10,759)
Investment in equity investments     (7)
Cash paid for acquisitions, net of cash acquired  (2,999)  (27,121)
Proceeds from sale of property and equipment  1,407   1,775 
Net cash used in investing activities $(16,532) $(36,112)
Cash flows from financing activities    
Proceeds from exercise of options  325   1,228 
Proceeds from term notes     5,000 
Principal payments on term notes  (810)  (1,357)
Proceeds from revolving credit facilities  3,000   8,000 
Payments on revolving credit facilities     (1,005)
Payments for debt issuance costs  (151)   
Shares redeemed to pay income tax  (972)  (526)
Repayments of finance lease liabilities  (249)  (37)
Net cash provided by financing activities $1,143  $11,303 
Net decrease in cash and cash equivalents  (4,032)  (6,690)
Cash and cash equivalents at beginning of year  12,839   16,914 
Cash and cash equivalents at end of period $8,807  $10,224 
Supplemental disclosures of cash flow information    
Cash paid during the period for interest $515  $169 
Cash paid during the period for income taxes, net of refunds $3,841  $3,093 
Supplemental disclosures of non-cash transactions    
Equipment and other fixed asset purchases payable at end of period $2,725  $2,526 
Equipment sales receivable at end of period $2,187  $ 
         

Non-GAAP Financial Measures

This press release refers to “Adjusted EBITDA”, which is a financial measure that is not prepared in accordance with generally accepted accounting principles in the United States ("GAAP"). Management believes Adjusted EBITDA provides helpful information with respect to the Company’s operating performance as viewed by management, including a view of the Company’s business that is not dependent on the impact of the Company’s capitalization structure and items that are not part of the Company’s day-to-day operations. Management uses Adjusted EBITDA (i) to compare the Company’s operating performance on a consistent basis, (ii) to calculate incentive compensation for the Company’s employees, (iii) for planning purposes, including the preparation of the Company’s internal annual operating budget, and (iv) to evaluate the performance and effectiveness of the Company’s operational strategies. Accordingly, management believes that Adjusted EBITDA provides useful information in understanding and evaluating the Company’s operating performance in the same manner as management. In calculating Adjusted EBITDA, certain items (mostly non-cash) are excluded from net income including depreciation and amortization of capitalized assets, net interest expense (income), stock based compensation, transactions costs, impairment of assets, and taxes.

The following table is a reconciliation of net income (loss), the most directly comparable U.S. GAAP measure, to Adjusted EBITDA, on a historical basis for the periods indicated:

VIEMED HEALTHCARE, INC.
Reconciliation of Net Income to Non-GAAP Adjusted EBITDA
(Expressed in thousands of U.S. Dollars)
(Unaudited)
 
For the quarter endedJune 30,
2024
March 31,
2024
December 31,
2023
September 30,
2023
June 30,
2023
March 31,
2023
December 31,
2022
September 30,
2022
Net income attributable to Viemed Healthcare, Inc.$1,468$1,603$3,477$2,919$2,330 $1,517 $2,438$1,055
Add back:        
Depreciation & amortization 6,309 6,285 5,918 5,975 5,207  4,762  4,373 4,120
Interest expense (income) 254 150 256 237 (20) (49) 32 42
Stock-based compensation(a) 1,620 1,432 1,534 1,453 1,471  1,391  1,317 1,309
Transaction costs(b) 221 110 61 177 94  206   
Impairment of assets(c) 2,173         
Income tax expense 768 518 1,599 1,320 728  501  1,146 456
Adjusted EBITDA$12,813$10,098$12,845$12,081$9,810 $8,328 $9,306$6,982


(a) Represents non-cash, equity-based compensation expense associated with option and RSU awards.
(b) Represents transaction costs and expenses related to acquisition and integration efforts associated with recently announced or completed acquisitions.
(c) Represents impairments of the fair value of investment and litigation-related assets.

VIEMED HEALTHCARE, INC.
Key Financial and Operational Information
(Expressed in thousands of U.S. Dollars, except vent patients)
(Unaudited)
         
For the quarter endedJune 30,
2024
March 31,
2024
December 31,
2023
September 30,
2023
June 30,
2023
March 31,
2023
December 31,
2022
September 30,
2022
Financial Information:       
Revenue$54,965 $50,593 $50,739 $49,402 $43,311 $39,556 $37,508 $35,759 
Gross Profit$32,892 $29,802 $32,111 $30,562 $26,106 $24,004 $22,896 $21,651 
Gross Profit % 60% 59% 63% 62% 60% 61% 61% 61%
Net Income$1,477 $1,603 $3,477 $2,919 $2,330 $1,517 $2,438 $1,055 
Cash (As of)$8,807 $7,309 $12,839 $10,078 $10,224 $23,544 $16,914 $21,478 
Total Assets (As of)$163,947 $154,875 $154,895 $149,400 $149,117 $124,634 $117,043 $119,419 
Adjusted EBITDA(1)$12,813 $10,098 $12,845 $12,081 $9,810 $8,328 $9,306 $6,982 
Operational Information:       
Vent Patients(2) 10,905  10,450  10,327  10,244  10,005  9,337  9,306  9,127 


(1)
Refer to "Non-GAAP Financial Measures" section above for definition of Adjusted EBITDA.

(2)Vent Patients represents the number of active ventilator patients on recurring billing service at the end of each calendar quarter.


FAQ

What were Viemed Healthcare's (VMD) Q2 2024 financial results?

Viemed Healthcare reported record Q2 2024 net revenues of $55.0 million, a 27% increase year-over-year, with net income of $1.5 million and Adjusted EBITDA of $12.8 million, up 31% from Q2 2023.

How many ventilator patients did Viemed Healthcare (VMD) have as of Q2 2024?

Viemed Healthcare grew its ventilator patient count to a new company record of 10,905 as of June 30, 2024, representing a 4.4% sequential increase from March 31, 2024.

What is Viemed Healthcare's (VMD) revenue guidance for Q3 2024?

Viemed Healthcare expects to generate net revenues of approximately $56.5 million to $57.7 million during the third quarter of 2024.

What is Viemed Healthcare's (VMD) cash position as of June 30, 2024?

As of June 30, 2024, Viemed Healthcare maintained a cash balance of $8.8 million and an overall working capital balance of $13.5 million.

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