Quipt Home Medical Corp. (QIPT) came out with a quarterly loss of $0.07 per share versus the Zacks Consensus Estimate of $0.01. This compares to loss of $0.03 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -800%. A quarter ago, it was expected that this company would post earnings of $0.01 per share when it actually produced a loss of $0.04, delivering a surprise of -500%.Over the last four quarters, the company has surpassed ...

Posts Strong Adjusted EBITDA Margin‎1 ‎for Fiscal Year 2024 and Returns to Positive Sequential Growth in Fiscal Q4 2024 CINCINNATI, Dec. 16, 2024 (GLOBE NEWSWIRE) -- Quipt Home Medical Corp. ("Quipt" or the "Company") (NASDAQ:QIPT, TSX:QIPT), a U.S. based home medical equipment provider, focused on end-to-end respiratory care, today announced its fourth quarter and fiscal year 2024 financial results and operational highlights. These results pertain to the three months and year ended September 30, 2024 and a ...

Core Viewpoint - Quipt Home Medical Corp. is set to announce its fiscal fourth quarter and full year 2024 financial results on December 16, 2024, with a conference call scheduled for December 17, 2024, to discuss these results with the investment community [1]. Group 1: Company Overview - Quipt Home Medical Corp. is a U.S.-based provider of home medical equipment, focusing on end-to-end respiratory care [1]. - The company offers in-home monitoring and disease management services, particularly for patients with chronic conditions such as heart or pulmonary diseases, sleep disorders, and reduced mobility [3]. - The primary business objective is to create shareholder value by expanding service offerings to patients in need of in-home monitoring and chronic disease management [3]. Group 2: Growth Strategy - The company's organic growth strategy aims to increase annual revenue per patient by providing multiple services to the same patient, thereby consolidating services and enhancing patient convenience [3].

CINCINNATI, Aug. 14, 2024 (GLOBE NEWSWIRE) -- Quipt Home Medical Corp. (the "Company") (NASDAQ: QIPT; TSX: QIPT), a U.S.-based home medical equipment provider, focused on end-to-end respiratory care, today announced its third quarter fiscal 2024 financial results and operational highlights. These results pertain to the three and nine months ended June 30, 2024, and are reported in United States dollars ("$", "dollars" and "US$") and have been rounded to the nearest hundred thousand. Quipt will host its Earn ...

Revenue and Income - Total revenue for the three months ended June 30, 2024, was $63,967,000, an increase of 4% compared to $60,284,000 for the same period in 2023[13] - Rentals of medical equipment generated $26,739,000 in revenue, while sales of medical equipment and supplies contributed $37,228,000 for the three months ended June 30, 2024[13] - Operating income for the nine months ended June 30, 2024, was $2,953,000, compared to $2,854,000 for the same period in 2023, reflecting a slight increase[13] - Total revenue for the nine months ended June 30, 2024, was $28,642,000, up from $27,312,000 in the same period of 2023, reflecting a growth of approximately 4.8%[21] - The company reported a net cash flow provided by operating activities of $28,642,000 for the nine months ended June 30, 2024, compared to $27,312,000 for the same period in 2023, showing an increase of about 4.8%[21] Net Loss - Net loss for the three months ended June 30, 2024, was $(1,701,000), compared to a net loss of $(1,034,000) for the same period in 2023[13] - Net loss for the nine months ended June 30, 2024, was $3,653,000, compared to a net loss of $1,460,000 for the same period in 2023, indicating an increase in losses[21] - Net loss for the three months ended June 30, 2024, was $1,701,000, compared to a net loss of $1,034,000 for the same period in 2023, representing a 64.5% increase in losses[79] - The total net loss for the nine months ended June 30, 2024, was $3,653,000, compared to $1,460,000 for the same period in 2023, indicating a 150.5% increase in losses[79] Assets and Liabilities - Total current assets increased to $74,242,000 as of June 30, 2024, from $65,433,000 as of September 30, 2023, representing a growth of 13%[8] - Accounts receivable, net, rose to $31,411,000 as of June 30, 2024, compared to $25,978,000 as of September 30, 2023, marking a 21% increase[8] - Total assets amounted to $249,784,000 as of June 30, 2024, slightly up from $247,408,000 as of September 30, 2023[8] - Current liabilities increased to $66,820,000 as of June 30, 2024, from $60,574,000 as of September 30, 2023, indicating an increase of 10%[8] Expenses - The company reported a bad debt expense of $3,208,000 for the three months ended June 30, 2024, compared to $2,425,000 for the same period in 2023, reflecting a 32% increase[13] - The company reported a depreciation and amortization expense of $36,778,000 for the nine months ended June 30, 2024, compared to $28,074,000 for the same period in 2023, reflecting an increase of about 30.9%[21] - Total operating expenses for the nine months ended June 30, 2024, were $91,096,000, compared to $74,533,000 for the same period in 2023, marking an increase of 22.1%[73] Stock and Compensation - The weighted average number of common shares outstanding for the three months ended June 30, 2024, was 42,623,000, up from 40,584,000 for the same period in 2023[13] - Stock-based compensation expenses for the nine months ended June 30, 2024, was $2,154,000, down from $3,911,000 for the same period in 2023, a decrease of approximately 44.8%[21] - Total stock-based compensation for key management personnel for the nine months ended June 30, 2024, was $663,000, down from $1,669,000 in the same period in 2023[82] Financing and Debt - The company incurred $2,370,000 in financing costs related to the senior credit facility, which will be amortized over the life of the facility[49] - The total principal of the senior credit facility as of June 30, 2024, was $66,651,000, slightly up from $66,350,000 as of September 30, 2023[41] - Interest expense on the facility for the nine months ended June 30, 2024, was $3,997,000, an increase from $3,000,000 for the same period in 2023, representing a 33% rise[48] Inventory and Equipment - Inventory as of June 30, 2024, totaled $22,601,000, an increase from $18,414,000 as of September 30, 2023, representing a growth of approximately 22.4%[31] - The carrying value of equipment pledged as security against loans was approximately $13,400,000 as of June 30, 2024, compared to $8,700,000 as of September 30, 2023[53] - Equipment loans ending balance as of June 30, 2024, is $13,304,000, an increase from $5,707,000 at the beginning of the period[54] Legal and Regulatory - The company has received a civil investigative demand from the DOJ regarding potential false claims related to CPAP equipment[71] Shareholder Actions - The company has initiated a normal course issuer bid allowing for the purchase of up to 3,626,845 common shares, with a maximum expenditure of $5,000,000[60]

Quipt Home Medical Corp. (QIPT) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended June 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price. The earnings report, which is expected to be released on August 14, 2024, might help the stock move higher if these key numbers are b ...

CINCINNATI, July 31, 2024 (GLOBE NEWSWIRE) -- Quipt Home Medical Corp. (the "Company") (NASDAQ: QIPT) (TSX: QIPT), a U.S. based home medical equipment provider, focused on end-to-end respiratory care, will announce its fiscal third quarter 2024 financial results on Wednesday, August 14, 2024, after market close. Gregory Crawford, Chief Executive Officer, and Hardik Mehta, Chief Financial Officer, will host a conference call for the investment community on Thursday, August 15, 2024, at 10:00 a.m. (ET). The c ...

Our core strength is our incredible team, which consists of over 1,200 individuals. With the ongoing dedication to patient care and scale, weÂ're achieving, we are poised to capitalize on the expanding need for respiratory care delivered in the home setting. This need for respiratory care is driven by an aging population, significant COPD target patient group of over 16 million Americans and a significantly underpenetrated sleep apnea market with OSA impacting 80 million adults across the United States. Cas ...

• Posts Adjusted EBITDA Margin of 23.3% as a % of Revenue Revenue for Q2 2024 was $64.0 million compared to $58.1 million for Q2 2023, representing a 10% increase. Organic growth contributed approximately $3.3 million, or 6% on an annual basis. The Company absorbed a revenue impact in the quarter resulting from expiration of the Medicare 75/25 blended rate as of January 1, 2024. The Medicare 75/25 blended rate had been providing rate relief in certain geographies. Additionally, in certain regions, the Compa ...

Financial Data and Key Metrics Changes - The company reported record revenue of $65.4 million for fiscal Q1 2024, representing a 60% year-over-year increase from $40.8 million in fiscal Q1 2023 [6][33] - Adjusted EBITDA for fiscal Q1 2024 was $15.3 million, reflecting a 71% increase year-over-year, with a margin of 23.5% compared to 22% in the previous year [13][15] - Cash flow from continuing operations increased by 143% to $11.7 million for the three months ended December 31, 2023, compared to $4.8 million for the same period in 2022 [34] - The company's cash position improved to $18.3 million as of December 31, 2023, up from $17.2 million in the previous quarter [35] Business Line Data and Key Metrics Changes - The recurring revenue base constituted 83% of total revenue, indicating strong financial stability [4][33] - The customer base increased by 56% year-over-year to 155,434 unique patients served in Q1 2024, up from 99,420 in Q1 2023 [12] - Unique setups and deliveries rose by 47% to 215,370 in Q1 2024, compared to 146,350 in Q1 2023 [12] Market Data and Key Metrics Changes - The company anticipates consistent organic growth of 8% to 10% annually, driven by a significant patient population suffering from COPD [7] - Demand trends in the sleep business remained strong, unaffected by market speculation regarding GLP-1 medications [8] Company Strategy and Development Direction - The company focuses on expanding its continuum of care and cross-selling product offerings while navigating a stable regulatory landscape [26] - The strategic emphasis includes targeting areas with a higher prevalence of COPD and enhancing sales touchpoints [26][27] - The company has successfully integrated 19 acquisitions since 2018, totaling over $150 million in revenue, and plans to continue pursuing strategic growth opportunities [41] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to thrive in potential economic downturns due to its proactive approach and strong operational foundation [11] - The aging population and rising chronic illnesses in the U.S. present favorable demographic trends for long-term growth [20] - The company maintains a disciplined capital allocation approach, with a conservative balance sheet and a leverage ratio of 1.3x [37][42] Other Important Information - The bad debt expense improved to 4.3% in Q1 2024 from 5.6% in Q1 2023, showcasing the company's effective billing and collection capabilities [14] - The automated resupply program serves 172,000 patients as of December 31, 2023, marking a growth rate of 72% [45] Q&A Session Summary Question: Can you provide an update on the DOJ investigation? - Management indicated that the inquiry is a fact-finding mission and has not concluded any wrongdoing [44][85] Question: What is the strategy to increase e-prescribing penetration? - The company is working with its sales team to encourage physician adoption of e-prescribing and plans to initiate supplier-initiated orders [56][66] Question: What is the status of the sales force and new market opportunities? - The company is onboarding additional sales representatives and expanding services within existing states [62] Question: Can you discuss the inorganic growth pipeline? - Management stated that there is a steady flow of M&A opportunities, and they remain disciplined in their approach [81][83] Question: How is the company addressing potential changes in CPAP utilization? - Management is monitoring the correlation between GLP-1 usage and CPAP compliance, noting that health-conscious patients are more likely to adhere to therapy [99]