Quipt Home Medical Reports First Quarter Fiscal Year 2025 Financial Results

Core Viewpoint - Quipt Home Medical Corp. reported its Q1 fiscal year 2025 financial results, showing a slight decline in revenue and improvements in net income, while facing challenges from changes in Medicare rates and contract renewals [1][5][7]. Financial Highlights - Revenue for Q1 2025 was $61.4 million, a 2% decrease from $62.6 million in Q1 2024, and flat compared to Q4 2024 [5]. - Net loss improved to ($1.1) million, or ($0.03) per diluted share, compared to ($1.5) million, or ($0.04) per diluted share for Q1 2024 [5]. - Cash flow from operations was $9.3 million for Q1 2025, down from $10.6 million in Q1 2024 [5]. - Adjusted EBITDA for Q1 2025 was $14.0 million, representing 22.8% of revenue, compared to $15.3 million, or 24.5% of revenue for Q1 2024, an 8.7% decrease [5][11]. - Recurring Revenue for Q1 2025 was strong at 77% of total revenue [5][11]. Operational Highlights - The customer base increased by 1% year over year to approximately 157,000 unique patients served in Q1 2025 [5]. - Unique set-ups/deliveries increased by 3% to approximately 221,000 in Q1 2025, compared to 215,000 in Q1 2024 [5]. - The resupply program now represents 48% of the Recurring Revenue mix, with 174,000 patients for the twelve months ended December 31, 2024 [5]. - The company has approximately 36,000 referring physicians and over 140 locations [5]. Management Commentary - The CEO emphasized the company's focus on organic revenue growth, operational net profit, and expanding Adjusted EBITDA, while optimizing organizational structure for long-term growth [7]. - The CFO highlighted operational enhancements that support efficient operations and high-quality patient care, aiming for a return to historical organic growth in calendar 2025 [7]. Company Overview - Quipt Home Medical Corp. provides in-home monitoring and disease management services, focusing on respiratory solutions and chronic disease management [8]. - The company's strategy aims to increase annual revenue per patient by offering multiple services and consolidating patient services [8].