Core Viewpoint - Viemed Healthcare, Inc. reported strong financial results for the year ended December 31, 2024, with significant growth in revenues and net income, and provided optimistic guidance for 2025, emphasizing its role in respiratory care and technology-enabled home medical equipment services [1][3]. Financial Performance - Net revenues for Q4 2024 reached a record $60.7 million, an increase of $10.0 million, or 20%, compared to Q4 2023 [4]. - Total net revenues for the year 2024 were $224.3 million, up $41.2 million, or 23%, from 2023 [4]. - Net income for Q4 2024 was $4.3 million, or $0.10 per diluted share, reflecting a 24% increase from Q4 2023 [4]. - For the full year 2024, net income totaled $11.3 million, or $0.28 per diluted share, a 10% increase from 2023 [4]. Operational Highlights - The company increased its ventilator patient count to 11,795, a 14% increase year-over-year [4]. - The PAP therapy patient count rose to 21,338, marking a 43% increase from the previous year [4]. - The sleep resupply patient count reached 24,478, up 29% year-over-year [4]. Guidance for 2025 - Viemed expects net revenue for the year ending December 31, 2025, to be in the range of $254 million to $265 million [4]. - Adjusted EBITDA for 2025 is projected to be between $54 million and $58 million [4]. Strategic Focus - The company plans to enhance its sales force and expand into underserved markets for non-invasive ventilation, sleep, staffing, and complementary services [3]. - Viemed aims to leverage its existing payer relationships to create new partnership opportunities and explore inorganic growth [3]. Cash Flow and Balance Sheet - Net cash provided by operating activities for 2024 was $39.1 million, compared to $45.2 million in 2023 [4]. - Free Cash Flow for 2024 was $11.6 million, down from $21.7 million in 2023 [4]. - As of December 31, 2024, the company had a cash balance of $17.5 million and long-term debt of $3.6 million [4]. Revenue Breakdown - For the year ended December 31, 2024, net revenue from ventilator rentals was $124.6 million, accounting for 55.6% of total revenue [20]. - Other home medical equipment rentals generated $48.7 million, representing 21.7% of total revenue [20]. - Service revenues increased significantly to $20.1 million, up 88.8% from the previous year [20].

Core Viewpoint - Viemed Healthcare, Inc. will host its Year End 2024 earnings conference call on March 11, 2025, at 11:00 a.m. EDT, indicating the company's commitment to transparency and communication with investors [1]. Company Overview - Viemed Healthcare, Inc. is a national leader in respiratory care and technology-enabled home medical equipment services in the United States [1]. - The company specializes in in-home clinical care for post-acute respiratory healthcare, offering services such as non-invasive ventilators (NIV), sleep therapy, and staffing, along with complementary products [3]. - Viemed emphasizes efficient and effective in-home treatment, utilizing clinical practitioners to provide therapy, education, and counseling to patients through high-touch and high-tech services [3]. Participation Details - Interested parties can join the earnings call by dialing a toll-free number for the US or an international number, and a live audio webcast will also be available [2]. - A replay of the call will be accessible in the Investor Relations section of the company's website after the live event [2]. Contact Information - For further inquiries, contact details for Tripp Sullivan from SCR Partners, LLC, and Todd Zehnder, Chief Operating Officer of Viemed, are provided [4].

Financial Data and Key Metrics Changes - The third quarter net revenue reached a record of $58 million, exceeding guidance and reflecting strong year-over-year and sequential growth [8][29] - Revenue increased by 17% year-over-year and 6% sequentially, with organic growth accounting for the majority of the increase [29] - EBITDA margin improved to 24.1%, up from 23.3% in the previous quarter and comparable to 24.5% a year ago [32] Business Line Data and Key Metrics Changes - The core vent business accounted for 55% of total revenue, while the sleep business contributed 17% [30] - Active vent patients increased by 4.3% sequentially, indicating positive future growth [17] - Sleep therapy patient count rose by 11% sequentially to 19,478, with resupply orders increasing by 9.7% to 22,143 [51] Market Data and Key Metrics Changes - The company noted that despite the rise of GLP-1 therapies for weight loss, rates of obesity and sleep apnea continue to climb, suggesting a growing market for sleep-related treatments [20][21] - Real-world data indicates that patients prescribed GLP-1 medications are more likely to start PAP therapy, enhancing the potential for growth in the sleep business [22] Company Strategy and Development Direction - The company is focused on maintaining organic growth through operational improvements and strategic investments in technology and training [12][25] - There is a robust M&A pipeline aimed at adding complementary services to expand core businesses [25] - The company is actively advocating for regulatory changes that could stabilize the business environment and enhance reimbursement policies [13][16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving a strong finish to 2024, with expectations for continued growth in vent and sleep businesses [26][40] - The company anticipates net revenue in Q4 to be between $59.7 million and $60.9 million, reflecting sequential growth and year-over-year increases [40] Other Important Information - The company invested approximately $11 million in capital expenditures during the quarter, primarily for respiratory equipment [35] - The balance sheet remains strong, with cash increasing to $11.3 million and a reduction in line of credit [38] Q&A Session Summary Question: Inquiry about regulatory changes and reimbursement - Management clarified that the 75-25 reimbursement relief is being reconsidered, which could positively impact financial performance [44][45] Question: Clarification on sleep business disclosures - Management explained that sleep therapy patients and resupply orders are mutually exclusive, with a total of approximately 42,000 patients served during the quarter [52][53] Question: Discussion on vent program growth - Management attributed the increase in vent patients to a restructured sales force and improved training programs [58][60] Question: Insights on M&A pipeline - Management indicated that the M&A pipeline includes opportunities beyond respiratory, with a focus on complementary services [62] Question: Inquiry about EBITDA margin expansion - Management confirmed that EBITDA margins are expected to improve due to economies of scale and operational efficiencies [64]

Revenue and Growth - Revenue for the quarter ended September 30, 2024, was $58.0 million, an increase of $8.6 million (or 17.4%) compared to $49.4 million in the same period of 2023[136] - For the nine months ended September 30, 2024, total revenue was $163.6 million, an increase of $31.3 million (or 23.7%) compared to the same period in 2023[148] - Ventilator rental revenue increased by $3.5 million (or 12.2%) due to higher patient volumes, contributing significantly to overall revenue growth[137] - Service revenues saw a notable increase of $3.1 million (or 140.3%) primarily due to the expansion of healthcare staffing services[137] - The company anticipates growth through expansion in existing service areas and new territories, focusing on cost-efficient launches[122] - The company anticipates continued growth in its active ventilator patient base and other respiratory offerings as it expands geographically[138] Profitability and Expenses - Gross profit for the quarter was $34.4 million, with a gross profit margin of 59.3%, down from 61.9% in the prior year[136] - Net income for the quarter was $3.9 million, an increase of $986,000 (or 33.8%) from $2.9 million in the same quarter of 2023[136] - Selling, general, and administrative expenses totaled $26.7 million, an increase of $3.0 million (or 12.8%) from the prior year, but improved as a percentage of revenue to 46.0%[139] - Research and development expenses totaled $0.8 million, reflecting a $0.2 million increase from the comparable period in 2023[140] - Stock-based compensation increased by 17.8% to $1.7 million, with expectations of further increases as the workforce expands[141] - Gross profit for the nine months ended September 30, 2024, was $97.1 million, with a gross profit percentage of 59.3%, down from 61.0% in the same period in 2023[149] - Selling, general, and administrative expenses totaled $78.0 million for the nine months ended September 30, 2024, an increase of $14.0 million (or 21.9%) from the prior year[150] - Research and development expenses for the nine months ended September 30, 2024, totaled $2.3 million, reflecting a slight increase of $0.1 million from the previous year[151] - Stock-based compensation for the nine months ended September 30, 2024, was $4.8 million, an increase of 10.4% from the comparable period in 2023[152] Market Trends and Projections - The home medical equipment market is projected to grow at a CAGR of approximately 6% for respiratory devices and 8% for Obstructive Sleep Apnea (OSA) devices[125] - U.S. home healthcare spending is expected to reach $250 billion by 2031, with a CAGR of approximately 7%[127] - The aging population and rising incidence of chronic diseases are significant drivers for the home medical equipment industry[126] - The transition to value-based healthcare is expected to benefit home medical equipment providers[127] Financial Position and Cash Flow - Total assets as of September 30, 2024, were $169.5 million, up from $163.9 million as of June 30, 2024[136] - Cash and cash equivalents as of September 30, 2024, were $11.3 million, down from $12.8 million at December 31, 2023[162] - Net cash provided by operating activities for the nine months ended September 30, 2024, was $24.1 million, a decrease from $31.9 million in the same period of 2023[164][165] - Net cash used in investing activities during the nine months ended September 30, 2024, was $21.5 million, which included $18.5 million for capital expenditures, a 15.4% increase year-over-year[166] - The company acquired HomeMed for $3.0 million during the nine months ended September 30, 2024[166] Debt and Financing - The 2022 Senior Credit Facilities provide for an up to $30.0 million revolving credit facility and an up to $30.0 million delayed draw term loan facility, both maturing in November 2027[171] - As of September 30, 2024, outstanding borrowings under the 2022 Term Loan Facility were $4.7 million, with no outstanding borrowings under the 2022 Revolving Credit Facility[172] - Total debt obligations amount to $2,172 million within 12 months and $7,132 million beyond 12 months[178] - Interest rates for the 2022 Senior Credit Facilities range from 2.625% to 3.375% based on Term SOFR, or from 1.625% to 2.375% based on the Base Rate[189] - The company anticipates that operating cash flows will satisfy material cash requirements for the 12 months after September 30, 2024[178] - The company may need to raise additional funds for contractual obligations and investing activities beyond the 12-month period, which may not be available on acceptable terms[178] Compliance and Risk Management - The company experienced a temporary reduction in operating cash flow due to delays in submitting patient claims caused by a cybersecurity incident at Change Healthcare[163] - The company was in compliance with all covenants under the 2022 Senior Credit Facilities as of September 30, 2024[176] - The company has no material undisclosed off-balance sheet arrangements that could affect its financial condition[181] - An immediate 100 basis point change in interest rates would not have a material effect on the company's net income based on outstanding borrowings[189] - The company follows accounting principles generally accepted in the United States, with critical accounting estimates that may impact financial condition or results of operations[183] Employee and Employer Contributions - The company employed 398 licensed Respiratory Therapists (RTs) as of September 30, 2024, accounting for approximately 35% of the total employee count[122] - Employer contributions to the 401(k) retirement plan totaled $358,000 for Q3 2024, up from $316,000 in Q3 2023, and $1,230,000 for the nine months ended September 30, 2024, compared to $1,050,000 for the same period in 2023[180] - Matching employer contributions to the 401(k) plan increased by approximately 13.3% for Q3 2024 compared to Q3 2023[180]

Core Viewpoint - Viemed Healthcare, Inc. reported strong financial results for the third quarter of 2024, with significant increases in net revenues, net income, and operational metrics, indicating robust growth in the respiratory care and home medical equipment services sector. Financial Performance - Net revenues for the quarter ended September 30, 2024, increased by 17.4% to $58.0 million compared to the same period in 2023, setting a new company record [1] - Net income rose by 33% to $3.9 million, translating to $0.10 per diluted share [2] - Adjusted EBITDA for the quarter increased by 15.5% to $14.0 million [2] Operational Highlights - The number of ventilator patients increased by 11.0% to 11,374 as of September 30, 2024, with a sequential increase of 4.3% from June 30, 2024 [3] - Sleep therapy patient count also rose by 11.0% sequentially to 19,478, and sleep resupply orders increased by 9.7% to 22,143 [3] Cash and Debt Position - As of September 30, 2024, the company maintained a strong cash balance of $11.3 million and an overall working capital balance of $11.3 million [4] - Long-term debt amounted to $3.7 million, with $55.3 million available under existing credit facilities [4] Future Outlook - The company exceeded its previously projected net revenue range for Q3 2024 and anticipates generating net revenues of approximately $59.7 million to $60.9 million in Q4 2024 [5] - CEO Casey Hoyt emphasized the company's commitment to enhancing patient satisfaction and operational efficiencies, which are expected to drive organic revenue growth and market penetration [6][7] Revenue Breakdown - Revenue from ventilator rentals (non-invasive and invasive) was $31.8 million for Q3 2024, up from $28.3 million in Q3 2023 [18] - Other home medical equipment rentals generated $12.5 million, compared to $11.1 million in the same period last year [18] - Total revenues for the nine months ended September 30, 2024, reached $163.6 million, up from $132.3 million in 2023 [18]

Core Viewpoint - Viemed Healthcare is upgraded to a 'Buy' rating following a strong Q2 earnings report and positive technical indicators, despite previous concerns about growth and market trends [2][3]. Technical Analysis - A bullish crossover of the MACD indicator suggests a potential upward trend for Viemed's stock, indicating favorable conditions for price appreciation [3]. - The stock has recently broken above a bearish trend line, and while it faces resistance at the 200-day moving average of approximately $7.78, there is optimism for overcoming this barrier [6]. - Strong buying volume has been observed despite a 27% decline from March highs of approximately $10, indicating potential for a price rebound [6][7]. Encouraging Q2 Trends - Viemed reported record revenue of $55 million in Q2, reflecting a 27% rolling quarter growth and an increase in active ventilator patients by 4.4% [8]. - The restructuring of the sales team has led to improved performance and increased reach to patients, suggesting a scalable growth model for the company's ventilator business [9]. - The introduction of GLP1 drugs has not negatively impacted Viemed's sleep business; instead, it has heightened awareness and sustained growth in CPAP and sleep product lines [10]. Strategic Opportunities - The recall of Philips' ventilators presents a unique opportunity for Viemed to upgrade its fleet through a buy-back agreement, allowing for the replacement of older units without negatively impacting cash flows [11]. - The company is leveraging volume purchase discounts to enhance its inventory while reducing servicing costs associated with older machines [11]. Valuation Perspective - Viemed's trailing GAAP multiple of nearly 32 may seem high, but its sales and book multiples are significantly below 5-year averages, indicating attractive valuation for potential earnings growth [12]. - The company's trailing price-to-sales ratio is 1.37, which is 45.9% lower than its 5-year average, and the price-to-book ratio is 2.38, 40.3% below its historical average [12]. Conclusion - Continued investments in technology, particularly the Engage platform, alongside positive technical indicators and growing patient counts, suggest a favorable outlook for Viemed's share price in the near term [13].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q Title of each class Trading Symbol(s) Name of exchange on which registered Common Shares, no par value VMD The Nasdaq Stock Market LLC ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 ☐ 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: ...

Core Insights - Viemed Healthcare, Inc. reported record net revenues of $55.0 million for the quarter ended June 30, 2024, marking a 27% increase compared to the same quarter in 2023 [2] - The company achieved a net income of $1.5 million and an adjusted EBITDA of $12.8 million, reflecting a 31% increase year-over-year [3] - Viemed's ventilator patient count reached a record high of 10,905, representing a 4.4% sequential increase from the previous quarter [4] Financial Performance - Net revenues for Q2 2024 were $55.0 million, up from $43.3 million in Q2 2023, indicating a growth of $11.7 million [2] - Adjusted EBITDA for Q2 2024 was $12.8 million, compared to $9.8 million in Q2 2023, showing a significant increase [3][19] - The company reported a net income of $1.5 million for Q2 2024, compared to $2.3 million in Q2 2023 [3][19] Operational Highlights - The number of ventilator patients increased to 10,905 as of June 30, 2024, up from 10,450 at the end of Q1 2024 [4][19] - The company maintains a cash balance of $8.8 million and total working capital of $13.5 million as of June 30, 2024 [4] - Viemed expects to generate net revenues of approximately $56.5 million to $57.7 million in Q3 2024 [5] Management Commentary - CEO Casey Hoyt emphasized the organic growth of complex respiratory services, highlighting the substantial demand and Viemed's commitment to addressing the needs of an underserved market [6]

LAFAYETTE, La., July 24, 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 will host its Quarterly Conference Call on Thursday, August 8, 2024 at 11:00 a.m. ET. Financial professionals are invited to call in to register in advance to ask questions. To pre-register as a qualified caller, please e-mail investorinfo@viemed.com by 12:00 p.m. ET Wednesday, ...

Interested parties may participate in the call by dialing: Financial professionals are invited to call in to register in advance to ask questions. To pre-register as a qualified caller, please e-mail investorinfo@viemed.com by 12:00 p.m. ET Wednesday, August 7, 2024. Following the live call, a replay will be available in the Investor Relations section of the Company's website, www.viemed.com. ABOUT VIEMED HEALTHCARE, INC. Viemed is a provider of in-home medical equipment and post-acute respiratory healthcar ...