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Viemed Healthcare Announces Third Quarter 2024 Financial Results

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Viemed Healthcare reported strong Q3 2024 financial results with net revenues increasing 17.4% to $58.0 million, setting a company record. Net income rose 33% to $3.9 million ($0.10 per diluted share), while Adjusted EBITDA grew 15.5% to $14.0 million. The company expanded its ventilator patient count by 11.0% to 11,374 and increased sleep therapy patients by 11.0% to 19,478. With a strong cash balance of $11.3 million and $55.3 million available in credit facilities, Viemed projects Q4 2024 revenues between $59.7-60.9 million, exceeding previous guidance.

Viemed Healthcare ha riportato risultati finanziari solidi per il terzo trimestre del 2024, con ricavi netti che sono aumentati del 17,4% a 58,0 milioni di dollari, stabilendo un record per l'azienda. L'utile netto è salito del 33% a 3,9 milioni di dollari (0,10 dollari per azione diluita), mentre l'EBITDA rettificato è cresciuto del 15,5% a 14,0 milioni di dollari. L'azienda ha ampliato il numero di pazienti in ventilazione dell'11,0% fino a 11.374 e ha incrementato i pazienti in terapia del sonno dell'11,0% a 19.478. Con un saldo di cassa solido di 11,3 milioni di dollari e 55,3 milioni di dollari disponibili in linee di credito, Viemed prevede ricavi per il quarto trimestre del 2024 compresi tra 59,7 e 60,9 milioni di dollari, superando le indicazioni precedenti.

Viemed Healthcare reportó resultados financieros sólidos para el tercer trimestre de 2024, con ingresos netos que aumentaron un 17.4% a 58.0 millones de dólares, estableciendo un récord para la empresa. Las ganancias netas crecieron un 33% a 3.9 millones de dólares (0.10 dólares por acción diluida), mientras que el EBITDA ajustado aumentó un 15.5% a 14.0 millones de dólares. La compañía expandió su número de pacientes con ventiladores en un 11.0% a 11,374 y aumentó el número de pacientes en terapia del sueño en un 11.0% a 19,478. Con un sólido saldo de efectivo de 11.3 millones de dólares y 55.3 millones de dólares disponibles en líneas de crédito, Viemed proyecta ingresos para el cuarto trimestre de 2024 entre 59.7 y 60.9 millones de dólares, superando las guías anteriores.

비메드 헬스케어는 2024년 3분기 강력한 재무 결과를 보고했으며, 순수익이 17.4% 증가한 5,800만 달러를 기록하며 회사의 최고 기록을 세웠습니다. 순이익은 33% 증가해 390만 달러(희석주당 0.10 달러)에 이를 것이며, 조정 EBITDA는 15.5% 증가해 1,400만 달러로 성장했습니다. 회사는 인공호흡기 환자 수를 11.0% 증가시켜 11,374명에 이르렀고, 수면 치료 환자 수를 11.0% 증가시켜 19,478명이 되었습니다. 비메드는 1130만 달러의 강력한 현금 잔고와 5,530만 달러의 신용 시설을 보유하고 있으며, 2024년 4분기 매출을 5,970만~6,090만 달러로 예상하여 이전 가이던스를 초과할 것으로 보입니다.

Viemed Healthcare a rapporté des résultats financiers solides pour le troisième trimestre 2024, avec un chiffre d'affaires net en hausse de 17,4% à 58,0 millions de dollars, établissant un record pour l'entreprise. Le bénéfice net a augmenté de 33% pour atteindre 3,9 millions de dollars (0,10 dollar par action diluée), tandis que l'EBITDA ajusté a crû de 15,5% pour atteindre 14,0 millions de dollars. L'entreprise a élargi son nombre de patients sous ventilation de 11,0% à 11 374 et a augmenté le nombre de patients en thérapie du sommeil de 11,0% à 19 478. Avec un solide solde de trésorerie de 11,3 millions de dollars et 55,3 millions de dollars disponibles en lignes de crédit, Viemed prévoit un chiffre d'affaires pour le quatrième trimestre 2024 compris entre 59,7 et 60,9 millions de dollars, dépassant les prévisions précédentes.

Viemed Healthcare berichtete über starke Finanzergebnisse im dritten Quartal 2024, wobei die Nettoreinnahmen um 17,4% auf 58,0 Millionen Dollar stiegen und damit einen Unternehmensrekord aufstellten. Der Nettogewinn stieg um 33% auf 3,9 Millionen Dollar (0,10 Dollar pro verwässerter Aktie), während das bereinigte EBITDA um 15,5% auf 14,0 Millionen Dollar wuchs. Das Unternehmen erweiterte die Patientenzahl für Beatmungsgeräte um 11,0% auf 11.374 und steigerten die Anzahl der Schlaftherapie-Patienten um 11,0% auf 19.478. Mit einem soliden Kassenbestand von 11,3 Millionen Dollar und 55,3 Millionen Dollar an verfügbaren Kreditlinien prognostiziert Viemed für das vierte Quartal 2024 Einnahmen zwischen 59,7 und 60,9 Millionen Dollar, was die vorherigen Prognosen übertrifft.

Positive
  • Record quarterly revenue of $58.0 million, up 17.4% YoY
  • Net income increased 33% to $3.9 million
  • Adjusted EBITDA grew 15.5% to $14.0 million
  • Ventilator patient count up 11.0% to 11,374
  • Strong liquidity with $11.3M cash and $55.3M available credit
  • Raised Q4 2024 revenue guidance to $59.7-60.9 million
Negative
  • None.

Insights

Strong quarterly performance with impressive growth metrics: $58.0M revenue marks a 17.4% YoY increase and 5.5% sequential growth. Net income jumped 33% to $3.9M, showing robust profitability improvement. The balance sheet remains healthy with $11.3M cash and minimal debt of $3.7M, plus substantial credit availability of $55.3M.

Key operational metrics show strong momentum: 11% growth in ventilator patients to 11,374 and sleep therapy patients to 19,478. The raised Q4 guidance of $59.7M to $60.9M indicates management's confidence in continued growth. The company's focus on operational efficiency and sales restructuring is yielding results, with organic revenue growth of 15% excluding acquisitions.

Viemed's expansion in both ventilator and sleep therapy segments demonstrates successful market penetration in the growing home healthcare sector. The sequential growth in sleep resupply orders (9.7% increase) indicates strong recurring revenue potential. The company's strategy of combining high-touch service with technology-enabled care is particularly relevant as healthcare continues shifting toward home-based solutions.

The focus on reducing rehospitalizations and improving patient compliance positions VMD well with both payers and providers, potentially leading to preferred partner status and expanded market opportunities. The company's ability to cross-sell services while maintaining high patient satisfaction suggests sustainable long-term growth potential in this underserved market.

LAFAYETTE, La., Nov. 06, 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 nine months ended September 30, 2024.

Operational highlights (all dollar amounts are USD; comparisons are to the period ended September 30, 2023 unless otherwise noted):

  • Net revenues increased 17.4% for the quarter ended September 30, 2024 to $58.0 million, setting another Company record, and increased 5.5% sequentially over the second quarter ended June 30, 2024. Excluding acquired revenue of $1.1 million, non-acquired net revenues increased by 15% for the quarter ended September 30, 2024.
  • Net income increased 33% for the quarter ended September 30, 2024 to $3.9 million, or $0.10 per diluted share. Adjusted EBITDA for the quarter ended September 30, 2024 increased 15.5% to $14.0 million. 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 increased its ventilator patient count by 11.0% to 11,374 on September 30, 2024 and increased ventilator patient count by 4.3% sequentially from June 30, 2024.
  • The Company increased its sleep therapy patient count by 11.0% sequentially to 19,478 on September 30, 2024; the Company also increased its sleep resupply orders by 9.7% sequentially to 22,143 on September 30, 2024.
  • As of September 30, 2024, the Company maintains a strong cash balance of $11.3 million and an overall working capital balance of $11.3 million. Long term debt as of September 30, 2024 amounted to $3.7 million and the Company has $55.3 million available under existing credit facilities.
  • The Company exceeded the high end of its previously projected net revenue range for the third quarter of 2024, and now expects to generate net revenues of approximately $59.7 million to $60.9 million during the fourth quarter of 2024.

Casey Hoyt, Viemed’s CEO, noted, “Viemed continues to earn a trusted place in the home with our high-touch, technology-enabled clinical approach to delivering complex respiratory care services. As a vital link between patients, providers and payers, we are demonstrating Viemed’s value in increasing patient satisfaction, improving compliance, and reducing rehospitalizations. This valuable position is helping us increase the patient population that we can serve for non-invasive ventilation, sleep, staffing and other complementary services.

“The combination of Viemed’s well-earned place in the home, the sales force restructuring initiatives we completed earlier this year, and the operational efficiencies facilitating greater patient compliance are fueling our strong organic revenue growth. The improved outlook for the balance of 2024 is predicated on continued benefits from these sales initiatives and operational efficiencies driving organic growth and greater penetration of our underserved markets through expanded service and home-based product offerings,” added Mr. Hoyt.

Conference Call Details

The Company will host a conference call to discuss third quarter results on Thursday, November 7, 2024 at 12:00 p.m. ET.

Interested parties may participate in the call by dialing:

877-407-6176 (US Toll-Free)
+1 201-689-8451 (International)

Live Audio Webcast: https://event.choruscall.com/mediaframe/webcast.html?webcastid=qSIpA5NC

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 an in-home clinical care provider of post-acute respiratory healthcare equipment and services in the United States, including non-invasive ventilators (NIV), sleep therapy, staffing, and other complementary products and services. Viemed focuses on efficient and effective in-home treatment with clinical practitioners providing therapy, education and counseling to patients in their homes using high-touch and high-tech services. 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 fourth 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.

 
VIEMED HEALTHCARE, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(Expressed in thousands of U.S. Dollars, except share amounts)
(Unaudited)
 
  At
September 30, 2024
 At
December 31, 2023
ASSETS    
Current assets    
Cash and cash equivalents $11,347  $12,839 
Accounts receivable, net  27,051   18,451 
Inventory  4,311   4,628 
Prepaid expenses and other assets  4,989   2,449 
Total current assets $47,698  $38,367 
Long-term assets    
Property and equipment, net  74,397   73,579 
Finance lease right-of-use assets  70   401 
Operating lease right-of-use assets  2,758   2,872 
Equity investments  1,794   1,680 
Debt investment  875   2,219 
Deferred tax asset  8,065   4,558 
Identifiable intangibles, net  880   567 
Goodwill  32,989   29,765 
Other long-term assets     887 
Total long-term assets $121,828  $116,528 
TOTAL ASSETS $169,526  $154,895 
LIABILITIES    
Current liabilities    
Trade payables $6,007  $4,180 
Deferred revenue  6,819   6,207 
Income taxes payable  2,077   2,153 
Accrued liabilities  19,918   17,578 
Finance lease liabilities, current portion  69   256 
Operating lease liabilities, current portion  742   678 
Current portion of long-term debt  812   1,072 
Total current liabilities $36,444  $32,124 
Long-term liabilities    
Accrued liabilities  652   558 
Finance lease liabilities, less current portion     132 
Operating lease liabilities, less current portion  1,985   2,184 
Long-term debt  3,650   6,002 
Total long-term liabilities $6,287  $8,876 
TOTAL LIABILITIES $42,731  $41,000 
Commitments and Contingencies      
SHAREHOLDERS' EQUITY    
Common stock - No par value: unlimited authorized; 38,932,247 and 38,506,161 issued and outstanding as of September 30, 2024 and December 31, 2023, respectively  22,749   18,702 
Additional paid-in capital  16,831   15,698 
Retained earnings  85,379   79,495 
TOTAL VIEMED HEALTHCARE, INC.'S SHAREHOLDERS' EQUITY $124,959  $113,895 
Noncontrolling interest in subsidiary  1,836    
TOTAL SHAREHOLDERS' EQUITY  126,795   113,895 
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $169,526  $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 September 30, Nine Months Ended September 30,
   2024   2023   2024   2023 
Revenue $58,004  $49,402  $163,562  $132,269 
         
Cost of revenue  23,633   18,840   66,497   51,597 
         
Gross profit $34,371  $30,562  $97,065  $80,672 
         
Operating expenses        
Selling, general and administrative  26,671   23,654   77,988   63,979 
Research and development  757   593   2,265   2,131 
Stock-based compensation  1,712   1,453   4,764   4,315 
Depreciation and amortization  348   419   1,140   957 
Loss (gain) on disposal of property and equipment  (469)  278   (801)  373 
Other expense (income), net  (276)  (41)  261   (124)
Income from operations $5,628  $4,206  $11,448  $9,041 
         
Non-operating income and expenses        
Income (expense) from investments  96   270   (954)  442 
Interest expense, net  (225)  (237)  (629)  (168)
         
Net income before taxes  5,499   4,239   9,865   9,315 
Provision for income taxes  1,594   1,320   2,880   2,549 
Net income $3,905  $2,919  $6,985  $6,766 
Net income attributable to noncontrolling interest  27      36    
Net income attributable to Viemed Healthcare, Inc. $3,878  $2,919  $6,949  $6,766 
         
         
Net income per share        
Basic $0.10  $0.08  $0.18  $0.18 
Diluted $0.10  $0.07  $0.17  $0.17 
         
Weighted average number of common shares outstanding:        
Basic  38,870,823   38,438,058   38,803,887   38,307,343 
Diluted  40,779,414   40,420,615   40,702,001   40,391,729 


VIEMED HEALTHCARE, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Expressed in thousands of U.S. Dollars)
(Unaudited)
 
  Nine Months Ended September 30,
   2024   2023 
Cash flows from operating activities    
Net income $6,985  $6,766 
Adjustments for:    
Depreciation and amortization  19,002   15,943 
Stock-based compensation expense  4,764   4,315 
Distributions of earnings received from equity method investments  147   833 
Income from equity method investments  (261)  (442)
Loss (income) from debt investment  1,344   (164)
Loss (gain) on disposal of property and equipment  (801)  373 
Amortization of deferred financing costs  135    
Deferred income tax benefit  (3,507)  (791)
Changes in working capital:    
Accounts receivable, net  (8,213)  (533)
Inventory  583   (514)
Prepaid expenses and other assets  340   1,193 
Trade payables  747   (255)
Deferred revenue  489   859 
Accrued liabilities  2,424   4,086 
Income tax payable/receivable  (76)  259 
Net cash provided by operating activities $24,102  $31,928 
Cash flows from investing activities    
Purchase of property and equipment  (25,942)  (18,161)
Investment in equity investments     (7)
Cash paid for acquisitions, net of cash acquired  (2,999)  (28,580)
Proceeds from sale of property and equipment  7,440   2,128 
Net cash used in investing activities $(21,501) $(44,620)
Cash flows from financing activities    
Proceeds from exercise of options  416   1,234 
Proceeds from term notes     5,000 
Principal payments on term notes  (954)  (2,746)
Proceeds from revolving credit facilities  3,000   8,000 
Payments on revolving credit facilities  (5,000)  (5,005)
Payments for debt issuance costs  (171)   
Shares redeemed to pay income tax  (1,065)  (595)
Repayments of finance lease liabilities  (319)  (32)
Net cash provided by (used in) financing activities $(4,093) $5,856 
Net decrease in cash and cash equivalents  (1,492)  (6,836)
Cash and cash equivalents at beginning of year  12,839   16,914 
Cash and cash equivalents at end of period $11,347  $10,078 
Supplemental disclosures of cash flow information    
Cash paid during the period for interest $745  $497 
Cash paid during the period for income taxes, net of refunds $6,416  $3,218 
Supplemental disclosures of non-cash transactions    
Equipment and other fixed asset purchases payable at end of period $2,854  $2,598 
Equipment sales receivable at end of period $1,683  $ 


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. 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. 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, transaction 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 endedSeptember
30, 2024
June 30,
2024
March 31,
2024
December
31, 2023
September
30, 2023
June 30,
2023
March 31,
2023
December
31, 2022
Net income attributable to Viemed Healthcare, Inc.$3,878 $1,468 $1,603 $3,477 $2,919 $2,330 $1,517 $2,438 
Add back:        
Depreciation & amortization 6,408  6,309  6,285  5,918  5,975  5,207  4,762  4,373 
Interest expense (income) 225  254  150  256  237  (20) (49) 32 
Stock-based compensation(a) 1,712  1,620  1,432  1,534  1,453  1,471  1,391  1,317 
Transaction costs(b) 12  221  110  61  177  94  206   
Impairment of assets(c) 125  2,173             
Income tax expense 1,594  768  518  1,599  1,320  728  501  1,146 
Adjusted EBITDA$13,954 $12,813 $10,098 $12,845 $12,081 $9,810 $8,328 $9,306 

(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 endedSeptember
30,
2024
June 30,
2024
March 31,
2024
December
31, 2023
September
30, 2023
June 30,
2023
March 31,
2023
December
31, 2022
Financial Information:       
Revenue$58,004 $54,965 $50,593 $50,739 $49,402 $43,311 $39,556 $37,508 
Gross Profit$34,371 $32,892 $29,802 $32,111 $30,562 $26,106 $24,004 $22,896 
Gross Profit % 59% 60% 59% 63% 62% 60% 61% 61%
Net Income$3,905 $1,477 $1,603 $3,477 $2,919 $2,330 $1,517 $2,438 
Cash (As of)$11,347 $8,807 $7,309 $12,839 $10,078 $10,224 $23,544 $16,914 
Total Assets (As of)$169,526 $163,947 $154,875 $154,895 $149,400 $149,117 $124,634 $117,043 
Adjusted EBITDA(1)$13,954 $12,813 $10,098 $12,845 $12,081 $9,810 $8,328 $9,306 
Operational Information:       
Vent Patients(2) 11,374  10,905  10,450  10,327  10,244  10,005  9,337  9,306 

(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.

The revenues from each major source are summarized in the following table:

  Three Months Ended
September 30,
 Nine Months Ended
September 30,
   2024   2023   2024   2023 
Revenue from rentals        
Ventilator rentals, non-invasive and invasive $31,772  $28,322  $91,404  $79,181 
Other home medical equipment rentals  12,459   11,119   35,604   26,441 
Revenue from sales and services        
Equipment and supply sales  8,440   7,742   21,956   19,287 
Service revenues  5,333   2,219   14,598   7,360 
Total revenues $58,004  $49,402  $163,562  $132,269 

FAQ

What was Viemed's (VMD) revenue growth in Q3 2024?

Viemed's net revenues increased 17.4% to $58.0 million in Q3 2024, setting a company record.

How much did Viemed's (VMD) net income grow in Q3 2024?

Viemed's net income increased 33% to $3.9 million, or $0.10 per diluted share.

What is Viemed's (VMD) Q4 2024 revenue guidance?

Viemed expects to generate net revenues of approximately $59.7 million to $60.9 million during Q4 2024.

How many ventilator patients did Viemed (VMD) have as of September 30, 2024?

Viemed had 11,374 ventilator patients as of September 30, 2024, representing an 11.0% increase.

Viemed Healthcare, Inc. Common Shares

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349.43M
38.83M
12.67%
67.81%
0.79%
Medical Devices
Services-misc Health & Allied Services, Nec
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United States of America
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