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UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q Table of Contents x Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the quarterly period ended March 31, 2025 or ¨ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the transition period from _____ to _____ Commission File Number: 001-35020 INFUSYSTEM HOLDINGS, INC. (Exact name of registrant as specified in its charter) Delaware 20-3341405 ( ...

InfuSystem Holdings (INFU) Q1 2025 Earnings Call May 08, 2025 09:00 AM ET Company Participants Joe Dorame - Managing PartnerRichard DiIorio - CEOCarrie Lachance - President, COO & DirectorBarry Steele - Executive VP & CFO Conference Call Participants Brooks O'Neil - Senior Research AnalystTollef Kohrman - Associate AnalystJim Sidoti - AnalystAnderson Schock - Research Analyst Operator Good day, and welcome to the InfuSystem Holdings, Inc. Reports First Quarter twenty twenty five Financial Results Conference ...

InfuSystem Holdings (INFU) Q1 2025 Earnings Call May 08, 2025 09:00 AM ET Speaker0 Good day, and welcome to the InfuSystem Holdings, Inc. Reports First Quarter twenty twenty five Financial Results Conference Call. All participants will be in listen only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press then 1 on your touch tone phone. To ...

InfuSystems Holdings, Inc. (INFU) came out with a quarterly loss of $0.01 per share versus the Zacks Consensus Estimate of a loss of $0.03. This compares to loss of $0.05 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 66.67%. A quarter ago, it was expected that this company would post earnings of $0.08 per share when it actually produced earnings of $0.04, delivering a surprise of -50%.Over the last four quarters, the company ...

Financial Performance - Net revenues for the year ended December 31, 2024, were $134.9 million, an increase of $9.1 million, or 7.2%, compared to $125.8 million for 2023[171]. - Gross profit for 2024 totaled $70.4 million, an increase of $7.3 million, or 11.6%, with a gross margin of 52.2%, up from 50.2% in the prior year[174]. - Operating income improved to $6,891,000, a significant increase of 68.4% compared to $4,088,000 in 2023[229]. - Net income for 2024 was $2,345,000, up 168.5% from $872,000 in 2023[229]. - Total current assets increased to $32,165,000, a rise of 5.1% from $30,620,000 in 2023[228]. - Total liabilities decreased to $46,085,000, down 8.3% from $50,613,000 in the previous year[228]. - Cash and cash equivalents at the end of 2024 were $527,000, compared to $231,000 at the end of 2023, reflecting a 128.1% increase[235]. Revenue Breakdown - Patient Services net revenue was $80.4 million, an increase of $3.8 million, or 5.0%, primarily due to additional treatment volume totaling $6.4 million[172]. - Device Solutions net revenue was $54.5 million, an increase of $5.2 million, or 10.6%, driven by higher rental revenue of $2.5 million, or 13.5%[173]. - The Oncology Business accounted for approximately 90% of total Patient Services segment revenues in 2024, with 45% from colorectal cancer treatments and 45% from non-colorectal disease states[161]. - Patient Services revenue accounted for 53.9% of total net revenues in 2024, slightly down from 54.1% in 2023[302]. - Device Solutions revenue recognized at a point in time increased to $33.495 million in 2024, up from $30.759 million in 2023, representing an increase of 8.9%[302]. Expenses and Costs - Selling and marketing expenses decreased to $11.3 million, down $1.3 million, or 11.5%, from 2023, representing 8.4% of net revenues compared to 10.1% in 2023[178]. - General and Administrative (G&A) expenses increased to $51.2 million, up $5.8 million, or 12.9%, from $45.4 million in 2023, with G&A as a percentage of net revenues rising to 38.0%[179]. - Device Solutions gross profit for 2024 was $17.6 million, an increase of $2.3 million, or 14.7%, from the prior year, with a gross margin of 32.2%[176]. - Stock-based compensation expense for the year ended December 31, 2024 was $4.46 million, compared to $4.07 million for 2023, indicating an increase of 9.6%[344]. Cash Flow and Liquidity - Net cash provided by operating activities was $20.5 million for 2024, an increase of $9.2 million, or 82.3%, from $11.2 million in 2023[193]. - Net cash used in investing activities increased to $13.2 million in 2024, up $6.5 million from $6.7 million in 2023, primarily due to increased purchases of medical equipment[195]. - Net cash used in financing activities was $6.9 million for 2024, compared to $4.4 million in 2023, mainly for net revolving line of credit repayments and stock repurchases[196]. - As of December 31, 2024, available liquidity was $51.4 million, up from $45.6 million in 2023, with cash and cash equivalents at $0.5 million[183]. Investments and Acquisitions - The acquisition of FilAMed and OB Healthcare has expanded the Device Solutions segment's capabilities in biomedical services[167]. - The company plans to expand its Patient Services segment into other cancer treatments, leveraging existing capabilities and new drug approvals[161]. - The merger with First Biomedical, Inc. is expected to enhance operational capabilities and market reach starting January 1, 2024[240]. Tax and Interest - The provision for income taxes was $2.7 million for 2024, with an effective tax rate of 53.6% on pre-tax income of $5.1 million[181]. - Interest expense for 2024 was $1.8 million, a decrease of $0.4 million from 2023, due to lower outstanding borrowings and interest rates[180]. Derivatives and Market Risks - The Company is exposed to market risk from changes in foreign currency exchange rates and short-term interest rates[208]. - The Company has entered into derivative contracts to manage financial and operational exposure from market risks[209]. - The Company recognized all derivative financial instruments as cash flow hedges, with fair values categorized as Level 2 of the fair value hierarchy[292]. Shareholder Equity and Stock Options - The Company repurchased approximately $1.2 million worth of common stock under the Share Repurchase Program as of December 31, 2024[192]. - The Company granted approximately 117,582 performance-based restricted stock units (PSUs) in 2024, up from 71,639 PSUs granted in 2023, marking a significant increase of 64.2%[348]. - By December 31, 2024, the number of outstanding stock options under the 2021 Plan increased to 1,840,786, with an average exercise price of $8.93[357]. Asset Management - The Company’s medical equipment is depreciated using the straight-line method over an estimated useful life of seven years[265]. - The Company performed its annual impairment analysis as of October 31, 2024, and determined that the fair value of trade names with indefinite lives was greater than their carrying value, resulting in no impairment[270]. - The Company’s inventories are stated at the lower of cost or net realizable value, with adjustments made for slow-moving inventory[264].

Financial Data and Key Metrics Changes - InfuSystem Holdings, Inc. reported a net revenue of $33.8 million for Q4 2024, representing a 7% increase from the prior year [18] - Operating income increased by 69% year-over-year to $6.9 million, while adjusted EBITDA rose 13% to $25.3 million, with an adjusted EBITDA margin of 18.8% for the full year [9][10] - Gross margins improved by 2% year-over-year to 52.2% [8] Business Line Data and Key Metrics Changes - Revenue growth in 2024 was driven by oncology and pain management, which increased by 6.1% and 14.7% respectively [11] - Equipment rentals in device solutions grew by 13.6%, and equipment sales increased by 20.6% [11] - Advanced wound care revenue surged by 342%, totaling $700,000, while the wound care segment faced challenges due to a pause in onboarding new initiatives [12][19] Market Data and Key Metrics Changes - The patient services segment led revenue growth with an 8% increase, while the device solutions segment saw a 4% increase [18] - The company noted a significant opportunity in the wound care space, focusing on partnerships with regional DME companies to leverage payer contracts [12] Company Strategy and Development Direction - The company aims for revenue growth of 8% to 10% in 2025, with adjusted EBITDA margins expected to exceed 18.8% [34] - InfuSystem is focusing on less capital-intensive revenue sources, such as biomedical services and advanced wound care supplies, to improve free cash flow [13][26] - The launch of the Chemo Mouthpiece is a strategic initiative to address an unmet need in oncology, with expectations for broad adoption following clinical studies [30][68] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about growth across all business lines in 2025, particularly in advanced wound care and biomed [43] - The company anticipates a ramp-up in revenue as new projects scale throughout the year, including initiatives with Smith and Nephew and Chemo Mouthpiece adoption [35][36] - Management acknowledged the impact of technology system upgrades on costs but expects overall profitability to improve [34][75] Other Important Information - The effective tax rate for Q4 2024 was 59%, primarily due to tax deduction shortages on equity compensation [22] - Operating cash flow for Q4 totaled $7.9 million, a 70% increase from the prior year, contributing to a record annual operating cash flow of $20.5 million [25][27] - The company reduced its net debt to $23.3 million, despite stock repurchases totaling $1.2 million during the year [27][28] Q&A Session Summary Question: Growth in Advanced Wound Care Products - Management confirmed that advanced wound care will drive growth in 2025, with many DME partners seeking referrals [41][43] Question: Feedback on Chemo Mouthpiece - Management noted growing interest and small orders for Chemo Mouthpiece, with significant potential pending clinical trial results [46][50] Question: Referral Process Improvements - Management indicated that improvements in the referral process will ramp throughout the year, with some benefits expected in Q1 [53][56] Question: Addressable Market for Chemo Mouthpiece - The addressable market for Chemo Mouthpiece is estimated to be in the hundreds of millions, with significant excitement from healthcare providers [67][70] Question: Factors Contributing to EBITDA Margin Improvement - Key contributors to improved EBITDA margins include efficiencies in biomed, growth in advanced wound care, and the impact of Chemo Mouthpiece [72][75]

InfuSystem Holdings, Inc. (NYSE:INFU) Q4 2024 Results Conference Call March 4, 2025 9:00 AM ET Company Participants Joe Dorame - Managing Partner Rich Dilorio - Chief Executive Officer Barry Steele - Chief Financial Officer Carrie Lachance - President and Chief Operating Officer Conference Call Participants Matt Hewitt - Craig-Hallum Capital Group Kyle Bauser - B. Riley Securities Jim Sidoti - Sidoti & Company Operator Good day, and welcome to the InfuSystem Holdings, Inc. Reports fourth quarter and full ye ...

Core Insights - InfuSystems Holdings, Inc. reported quarterly earnings of $0.04 per share, missing the Zacks Consensus Estimate of $0.08 per share, representing an earnings surprise of -50% [1] - The company posted revenues of $33.85 million for the quarter ended December 2024, missing the Zacks Consensus Estimate by 1.61%, compared to year-ago revenues of $31.77 million [2] - InfuSystems Holdings shares have declined approximately 14.1% since the beginning of the year, while the S&P 500 has decreased by -0.5% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.04 on revenues of $33.8 million, and for the current fiscal year, it is $0.31 on revenues of $146.6 million [7] - The estimate revisions trend for InfuSystems Holdings is mixed, resulting in a Zacks Rank 3 (Hold) for the stock, indicating expected performance in line with the market [6] Industry Context - The Medical - Products industry, to which InfuSystems Holdings belongs, is currently in the top 36% of over 250 Zacks industries, suggesting a favorable outlook compared to the bottom 50% [8] - Ayr Wellness Inc., another company in the same industry, is expected to report a quarterly loss of $0.29 per share, reflecting a year-over-year change of +19.4% [9]

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