Workflow
Viemed(VMD)
icon
Search documents
Viemed(VMD) - 2020 Q1 - Quarterly Report
2020-05-04 22:56
Revenue Performance - Total revenues for the three months ended March 31, 2020, were $23,806,000, representing a 31.1% increase from $18,115,000 in the same period of 2019[44]. - Revenue from ventilator rentals increased to $18,792,000 in Q1 2020 from $16,204,000 in Q1 2019, reflecting a growth of 15.8%[44]. - Revenue from COVID-19 response sales reached $1,040,000, with no comparable revenue in the prior year[44]. - Revenue for the quarter ended March 31, 2020, was $23.8 million, an increase from $21.4 million in the same quarter of 2019, representing an increase of 11%[143]. - For the three months ended March 31, 2020, revenue totaled $23.8 million, an increase of $5.7 million (or 31.4%) from the comparable period in 2019[146]. - COVID-19 response related sales amounted to $1.0 million, primarily from ventilators and associated supplies[148]. - Rental revenue from other durable medical equipment grew $1.3 million (or 167.4%) quarter over quarter[146]. Financial Position - The company's medical equipment net value as of March 31, 2020, was $56,632,000, up from $54,772,000 at the end of 2019[66]. - Total accrued liabilities decreased to $6,886,000 as of March 31, 2020, from $8,968,000 at the end of 2019, indicating a reduction of 24.1%[67]. - As of March 31, 2020, the Company had total notes payable of $8,951,000, down from $9,379,000 as of December 31, 2019[76]. - The Company reported net long-term notes payable of $7,179,000 as of March 31, 2020, compared to $7,629,000 at the end of 2019[76]. - The Company recognized finance lease liabilities of $9,763,000 as of March 31, 2020, a decrease from $10,132,000 as of December 31, 2019[77]. - Total assets as of March 31, 2020, were $86.8 million, up from $82.6 million at the end of 2019, showing a growth of 2.7%[143]. - The company had current assets of $30,151,000, compared to $27,811,000 as of December 31, 2019[111]. Income and Earnings - The net income attributable to shareholders for the three months ended March 31, 2020, was $4,243,000, compared to $1,958,000 for the same period in 2019[114]. - Basic earnings per share for the three months ended March 31, 2020, was $0.11, up from $0.05 in 2019[114]. - Net income for the quarter was $4.2 million, compared to $2.4 million for the same period in 2019, reflecting a year-over-year increase of 78%[143]. - For the quarter ended March 31, 2020, net income was $4.243 million, an increase from $2.388 million in the same quarter of 2019, representing a 77.5% year-over-year growth[160]. - Net income for the three months ended March 31, 2020 was $4.2 million, an increase of $2.3 million (or 116.7%) from the comparable period in 2019[155]. Expenses and Costs - Selling, general and administrative expenses totaled $10.6 million, an increase of $1.1 million (or 11.8%) from the comparable prior period, but as a percentage of revenue decreased to 44.4%[150]. - Cost of revenue totaled $8.3 million, an increase of $3.2 million (or 63.7%) from the comparable period in 2019, with gross profit percentage decreasing from approximately 72.2% to approximately 65.3%[149]. - Stock-based compensation for the three months ended March 31, 2020, totaled $1,151,000, compared to $880,000 for the same period in 2019[92]. - Stock-based compensation totaled $1.2 million, an increase of $0.3 million (or 30.8%) from the comparable period in 2019[152]. - Interest expense, net totaled $158,000, an increase of $132,000 (or 507.7%) from the comparable period in 2019[153]. Cash Flow and Financing - Cash and cash equivalents decreased to $8.4 million as of March 31, 2020, down from $13.4 million at December 31, 2019[162]. - Net cash provided by operating activities was $0.607 million for the three months ended March 31, 2020, compared to $0.650 million for the same period in 2019[163]. - Net cash used in financing activities was $3.842 million for the three months ended March 31, 2020, compared to $3.561 million in the same period of 2019[168]. - The company reported a net decrease in cash and cash equivalents of $4.946 million for the three months ended March 31, 2020[163]. - The company maintains a $10.0 million line of credit with Hancock Whitney Bank, which was fully available as of March 31, 2020[111]. Operational Highlights - The number of active ventilator patients at the end of the quarter was 7,965, an increase from 7,759 in the previous year, indicating a growth of 2.7%[143]. - The active ventilator patient base grew from 6,393 as of March 31, 2019 to 7,965 as of March 31, 2020, an increase of 25%[148]. - The company employed more than 255 licensed Respiratory Therapists, representing over 54% of the total employee count, to support its service model[132]. - The COVID-19 pandemic has led to minimal disruption in operations, with the company continuing to set up new patients in homes[134]. - The removal of non-invasive ventilators from the competitive bidding process is expected to last three years, allowing the company to furnish these products in all Medicare accredited areas[141]. Accounting and Compliance - The company has adopted ASU No. 2018-13 regarding fair value measurement, effective January 1, 2020, with no material impact on financial statements[61]. - The company is in compliance with all financial covenants as of March 31, 2020, with a total debt to adjusted EBITDA ratio of 0.83[173]. - The allowance for doubtful accounts was $10.2 million as of March 31, 2020, compared to $5.9 million as of March 31, 2019, indicating a significant increase in estimated uncollectible receivables[196]. - The company does not accept returns or refunds on equipment sales or sleep study services, and has no contract liabilities as of March 31, 2020[195]. - Deferred income tax assets and liabilities are recognized based on temporary differences between financial statement values and tax bases, requiring management estimates and assumptions[202].
Viemed(VMD) - 2019 Q4 - Annual Report
2020-03-04 02:15
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 ☐ 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: 001-38973 Viemed Healthcare, Inc. (Exact name of registrant as specified in its charter) British Columbia, Canada N/A (State or other juri ...
Viemed Healthcare (VMD) Investor Presentation - Slideshow
2019-12-06 17:51
LEADING THE HEALTHCARE INDUSTRY IN HOME RESPIRATORY CARE IR PRESENTATION / DECEMBER 2019 FORWARD - LOOKING STATEMENTS This presentation (the "Presentation") about Viemed Healthcare, Inc. ("Viemed") is dated as of December 2019. It is information in a summary form and does not purport to be complete. It is not intended to be relied upon as advice to investors or potential investors and does not take into account the investment objectives, financial situation or needs of any particular investor. No representa ...
Viemed(VMD) - 2019 Q3 - Earnings Call Transcript
2019-11-10 14:54
Viemed Healthcare, Inc. (NASDAQ:VMD) Q3 2019 Results Earnings Conference Call November 5, 2019 11:00 AM ET Company Participants Todd Zehnder - Chief Operating Officer Casey Hoyt - Chief Executive Officer Conference Call Participants Sarah James - Piper Jaffray Brooks O'Neil - Lake Street Capital Markets Nick Corcoran - Acumen Capital Doug Cooper - Beacon Securities John Rakoto - Claret Asset Management Operator Please standby. We are about to begin. Good day everyone. Welcome to the Viemed third quarter 201 ...
Viemed(VMD) - 2019 Q3 - Quarterly Report
2019-11-05 14:22
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2019 ☐ 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: 001-38973 Viemed Healthcare, Inc. (Exact name of registrant as specified in its charter) British Columbia, Canada N/A (State or o ...
Viemed(VMD) - 2019 Q2 - Earnings Call Transcript
2019-08-10 04:46
Financial Data and Key Metrics Changes - The company generated revenue of $22.5 million in Q2 2019, a 45% increase from $15.5 million in Q2 2018 [26] - Active vet patients increased by 12% sequentially, reaching 7,130 by the end of the quarter [27] - Gross margin percentage rose to 75% from 73% in the prior year's second quarter [27] - Adjusted EBITDA totaled $4.6 million for the quarter, representing a 20% margin [27] Business Line Data and Key Metrics Changes - The percussion vest product line contributed to 11% of new patient growth [15] - The company launched a new oxygen business model, which is expected to drive more orders [16] - Compression therapy for lymphedema patients is being beta tested, with a U.S. market potential of over $4 billion, currently less than 20% penetrated [18] Market Data and Key Metrics Changes - The company is now licensed to operate in 44 states and Medicare approved in 38 states [11] - The company aims to expand its coverage to the lower 48 states within the next year [12] Company Strategy and Development Direction - The company is focused on organic growth through geographical expansion and enhancing its product offerings [14] - Plans to diversify payor mix and engage in value-based contracts are underway [23] - The company is preparing for competitive bidding zones expected in 2021 [49] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about growth opportunities driven by an aging population and increased patient volumes [42] - The company is investing in technology and new product lines to enhance service delivery and patient care [43] - Management anticipates revenue and gross margin to increase at a higher pace than SG&A expenses as investments normalize [33] Other Important Information - The company is now listed on both the Toronto Stock Exchange and NASDAQ, marking a significant milestone [24] - The company has invested in its workforce to support expanding programs, including new employees for the VA and pediatric division [29] Q&A Session Summary Question: Expansion Plans - The company is focusing on hiring qualified personnel within existing coverage areas to drive organic growth and prepare for competitive bidding zones [49] Question: SG&A Investments - Management indicated that some costs related to NASDAQ listing and technology investments are one-time, while ongoing costs will be associated with marketing and new product rollouts [53] Question: Economics of New Business Lines - The oxygen business is expected to have a margin profile around 20%, while compression therapy is projected to have gross margins in the 70% range [60][62] Question: VA Opportunities - Management is optimistic about penetrating the VA market, especially with the pilot study funded by the VA [68] Question: Bad Debt and Financial Metrics - Bad debt decreased to 7.7% from 10.4%, attributed to investments in billing and collections [72] Question: Future EBITDA Margins - Management expects adjusted EBITDA margins in the back half of the year to return to prior year levels, driven by organic revenue growth [75]
Viemed Healthcare (VIEMF) Investor Presentation - Slideshow
2019-08-09 17:54
LEADING THE HEALTHCARE INDUSTRY IN HOME RESPIRATORY CARE IR PRESENTATION / AUGUST 2019 FORWARD - LOOKING STATEMENTS This presentation (the "Presentation") about Viemed Healthcare, Inc. ("Viemed") is dated as of August 2019. It is information in a summary form and does not purport to be complete. It is not intended to be relied upon as advice to investors or potential investors and does not take into account the investment objectives, financial situation or needs of any particular investor. No representation ...
Viemed(VMD) - 2019 Q2 - Quarterly Report
2019-08-08 22:36
(Exact name of registrant as specified in its charter) British Columbia, Canada N/A (State or other jurisdiction of incorporation or organization) (IRS Employer Identification Number) 202 N. Luke St. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2019 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For ...
Viemed(VMD) - 2019 Q1 - Earnings Call Transcript
2019-05-11 20:26
Viemed Healthcare, Inc. (VIEMF) Q1 2019 Earnings Conference Call May 7, 2019 11:00 AM ET Company Participants Todd Zehnder - Chief Operating Officer Casey Hoyt - Chief Executive Officer Conference Call Participants Brooks O'Neil - Lake Street Capital Markets Doug Cooper - Beacon Securities Limited Russell Sarachek - Contra Capital Management LLC Operator Good day, and welcome to the Viemed First Quarter 2019 Earnings Call. Today's conference is being recorded. At this time, I would like to turn the conferen ...
Viemed(VMD) - 2018 Q4 - Earnings Call Transcript
2019-03-05 03:06
Financial Data and Key Metrics Changes - The company generated revenue of $18.5 million in Q4 2018, a 37% increase from $13.5 million in Q4 2017, and annual revenue reached $65.3 million, up 39% year-over-year [18][19] - Gross margin percentage was 74% in Q4 2018, slightly down from 75% in the same quarter last year [18] - Adjusted EBITDA for Q4 was $5 million, representing a 27% margin, while annual adjusted EBITDA was $17.2 million or 26% [19][20] - SG&A expenses totaled approximately $34.4 million, up from $24.6 million in the prior year, reflecting variable compensation tied to stock price [21] Business Line Data and Key Metrics Changes - The company achieved record-breaking sales in Q4, marking the 10th consecutive quarter of revenue growth, driven by educating more physicians and case managers [6][8] - The network development team signed 28 new contracts in Q4, bringing the total for 2018 to 70 new contracts [11] - The company added 9 sales representatives in Q4, totaling approximately 70 sales reps and clinical liaisons [48][50] Market Data and Key Metrics Changes - The company is licensed to operate in 36 states and conducting business in 25, with plans to expand to all lower 48 states within 1.5 years [12][60] - The U.S. healthcare system is increasingly focused on reducing hospital admissions, which aligns with the company's service offerings [32] Company Strategy and Development Direction - The company aims to expand its product offerings, including the percussion vest and oxygen therapy, to drive growth [39][40] - Plans to become a dual-listed company in the U.S. and Canada to attract more investors [14][27] - The management is focused on leveraging technology for remote patient monitoring and improving patient care [30][67] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about continued organic growth, with expectations for Q1 revenue guidance in the range of $20 million to $20.5 million [24] - The lifting of the competitive bidding program is seen as an opportunity to expand ancillary products [29] - Management is cautious but optimistic about maintaining growth rates, despite the challenges of scaling from a larger base [51] Other Important Information - The company has a strong balance sheet with approximately $10.4 million in cash and $8.8 million in clean accounts receivable [23] - The company utilized $1.6 million to buy back approximately 411,000 shares in Q4 [26] Q&A Session Summary Question: Expansion of product offerings - Management discussed the introduction of new products like the percussion vest and expansion of oxygen therapy, anticipating these will drive growth without significantly impacting margins [39][40] Question: Seasonality in business growth - Management indicated that while respiratory diseases may see seasonal fluctuations, they do not expect significant slowdowns in growth rates [42] Question: Inorganic growth opportunities - Management confirmed they are exploring strategic acquisitions in adjacent markets but emphasized that their primary focus is on purchasing more vents [43] Question: Opportunities with the VA - Management noted early progress with the VA, having onboarded a small number of patients and expressed optimism about future growth in this area [45] Question: Patient growth and awareness - Management highlighted that as they hire more sales reps and enhance training, they expect to continue growing patient numbers and awareness in the physician community [50][51] Question: Geographic expansion plans - Management expects to be operational in the lower 48 states within 9 to 18 months, with particular excitement about opportunities in California, Florida, and Colorado [60]