Quipt Home Medical (US:QIPT)2025-05-12 21:08Financial Performance - Revenue for Q2 2025 was $57.4 million, a 6% decrease from $61.3 million in Q2 2024, impacted by Medicare Advantage member withdrawals and a non-renewed supply contract[6]. - Adjusted EBITDA for Q2 2025 was $13.4 million, representing 23.3% of revenue, down from $14.9 million or 24.3% of revenue in Q2 2024, a 10% decrease[6]. - Net loss for Q2 2025 was ($3.0) million, or ($0.07) per diluted share, compared to a net loss of ($0.7) million, or ($0.02) per diluted share in Q2 2024[6]. - Adjusted EBITDA for Q2 annualized is $53.6 million[20]. Revenue Composition - Recurring revenue for Q2 2025 was strong at 81% of total revenue, calculated as $46.3 million from rentals and sales of respiratory resupplies[6][19]. Cash Flow and Liquidity - Cash flow from operations for the six months ended March 31, 2025, was $18.2 million, an increase from $14.9 million for the same period in 2024[6]. - The company reported $17.1 million in cash on hand as of March 31, 2025, up from $15.5 million as of December 31, 2024[6]. Patient Metrics - The company served 146,000 unique patients as of March 31, 2025, a 2% decline year-over-year from 149,000 patients[6]. Debt and Leverage - The net debt to adjusted EBITDA leverage ratio was 1.5x, indicating a conservative balance sheet[6]. - Net Debt as of March 31, 2025, is $82.4 million[20]. - Senior credit facility principal amounts to $71.5 million[20]. - Equipment loans total $10.1 million[20]. - Lease liabilities are $17.9 million[20]. Expansion and Product Development - The company launched two new De Novo sites in Florida and Alabama, expanding its national footprint[13]. - A new Medicare-approved airway clearance device was introduced, enhancing the company's product portfolio for higher-acuity respiratory care[13].