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]

Table of Contents Exhibit 99.1 Quipt Home Medical Corp. Condensed Consolidated Interim Financial Statements 2024 First Quarter For the three months ended December 31, 2023 and 2022 (UNAUDITED) (Expressed in US Dollars) Table of Contents TABLE OF CONTENTS | Condensed Consolidated Interim Statements of Financial Position | Page 1 | | --- | --- | | Condensed Consolidated Interim Statements of Income (Loss) and Comprehensive Income | | | (Loss) | Page 2 | | Condensed Consolidated Interim Statements of Changes i ...

Exhibit 99.1 QUIPT HOME MEDICAL REPORTS RECORD FOURTH QUARTER AND FISCAL YEAR 2023 FINANCIAL RESULTS POSTING REVENUE GROWTH OF 59% AND ADJUSTED EBITDA GROWTH OF 73% POSTS VERY STRONG ADJUSTED EBITDA % OF REVENUE OF 23.5% FOR FISCAL Q4 AND 22.8% FOR FISCAL YEAR 2023 Cincinnati, Ohio – December 18, 2023 – 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 fourth quarter and fiscal year 20 ...

Operator Hi, good morning, guys, and congratulations on a great quarter. I just want to focus in, if I could, on the resupply program, you said in the press release it's 169,000 patients now in the program. Can you give us an idea of what the average reorder rate is per patient for the year and what the average revenue per reorder is? Greg Crawford Doug Cooper Greg Crawford Doug Cooper Yes, that's it. That's about right. Yes. Greg Crawford This is predominantly hoses and masks, I'm guessing, right? So it wo ...

Company Participants Thank you for standing by. This is the conference operator. Welcome to the Fiscal Third Quarter 2023 Earnings Results Conference Call for Quipt Home Medical Corp. As a reminder, all participants are in listen-only mode and the conference is being recorded. After the presentation there will be opportunity for analytics to ask questions. [Operator Instructions]. At this point, I'd like to turn the conference over to Mr. Chairman and Chief Executive Officer, Greg Crawford. Please go ahead. ...

Table of Contents Exhibit 99.1 Quipt Home Medical Corp. Condensed Consolidated Interim Financial Statements 2023 Third Quarter For the three and nine months ended June 30, 2023 and 2022 (UNAUDITED) (Expressed in thousands of US Dollars, except per share amounts) | | | As at | | As at | | --- | --- | --- | --- | --- | | | | June 30, 2023 | | September 30, 2022 | | ASSETS | | | | | | Current Assets | | | | | | Cash | $ | 20,445 | $ | 8,516 | | Accounts receivable, net | | 23,817 | | 16,383 | | Inventory | | 1 ...

This concludes today's conference call. You may disconnect your lines. Thank you for participating, and have a pleasant day. Yeah. We think there's probably about another 12 to 15 states in that that would kind of fit the bill there for us that have a high prevalence in that of cardio and pulmonary disease states, especially COPD that we'd like to get into. Julian Hung All right. Thank you so much for taking the question today. Greg Crawford Thank you. Operator This concludes the question-and-answer session ...