Viemed Healthcare Announces First Quarter 2025 Financial Results

Core Insights - Viemed Healthcare, Inc. reported strong financial results for Q1 2025, with net revenues of $59.1 million, a 17% increase from Q1 2024, and net income of $2.6 million, a 64% increase year-over-year [6][5][19] - The company has updated its full-year 2025 guidance, raising the lower end of its revenue and Adjusted EBITDA ranges due to improved performance across its business segments [5][3] - Viemed announced an agreement to acquire Lehan's Medical Equipment for $26 million, which is expected to enhance its service offerings in respiratory care and women's health [4][6] Financial Performance - Net revenues for Q1 2025 were $59.1 million, up from $50.6 million in Q1 2024, reflecting an increase of $8.5 million [6][19] - Adjusted EBITDA for Q1 2025 was $12.8 million, representing a 26% increase compared to Q1 2024 [6][19] - The company reported a net income of $2.6 million, or $0.06 per diluted share, compared to $1.6 million, or $0.04 per diluted share in the same quarter last year [6][19] Operational Highlights - The number of ventilator patients increased to 11,809, a 13% rise from March 31, 2024 [6][24] - The PAP therapy patient count rose to 22,899, marking a 46% increase year-over-year [6][24] - The sleep resupply patient count was 22,941, a 21% increase from the previous year [6][24] Guidance and Future Outlook - For the full year 2025, net revenue is expected to be in the range of $256 million to $265 million, up from the previous range of $254 million to $265 million [6][3] - Adjusted EBITDA for the year is projected to be between $55 million and $58 million, an increase from the prior range of $54 million to $58 million [6][3] - The anticipated acquisition of Lehan's Medical Equipment is not included in the current guidance but is expected to contribute positively once completed [4][6] Balance Sheet and Cash Flow - As of March 31, 2025, the company had a cash balance of $10.2 million and total assets of $178.1 million [6][17] - Long-term debt stood at $3.5 million, with $55 million available under existing credit facilities [6][17] - The company reported a net cash provided by operating activities of $2.9 million for Q1 2025 [20]