Viemed Healthcare Announces Record 2024 Financial Results

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$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].