In This Article:
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Revenue: $61.4 million for fiscal Q1 2025, a 2% decrease from $62.6 million in fiscal Q1 2024.
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Adjusted EBITDA: $14 million at a 22.8% margin for Q1 2025, compared to $15.3 million at a 24.5% margin for Q1 2024.
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Net Loss: Improved to $1.1 million or $0.03 per diluted share for Q1 2025, from $1.5 million or $0.04 per diluted share for Q1 2024.
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Operating Expenses: 49.5% of revenue in Q1 2025, compared to 47.6% in Q1 2024.
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Cash Flow from Operations: $9.3 million for the three months ended December 31, 2024, compared to $10.6 million in the prior period.
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Cash on Hand: $15.5 million as of December 31, 2024, compared to $16.2 million as of September 30, 2024.
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Customer Base: Grew by 1% to 157,000 unique patients as of December 31, 2024.
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Recurring Revenue: Approximately 77% of total revenue for Q1 2025.
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CapEx: $9.4 million for fiscal Q1 2025, compared to $7.3 million in fiscal Q1 2024.
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Net Leverage: 1.5 times, providing flexibility for strategic initiatives.
Release Date: February 11, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Quipt Home Medical Corp (NASDAQ:QIPT) achieved stable revenue generation of $61.4 million in the first quarter of fiscal 2025, with a strong sequential improvement in adjusted EBITDA margin to 22.8%.
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The company reported a significant improvement in adjusted EBITDA, reaching $14 million, reflecting proactive steps to streamline operations and optimize organizational structure.
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Quipt Home Medical Corp (NASDAQ:QIPT) has expanded to 135 locations across 26 states, serving over 314,000 active patients, strengthening its coast-to-coast reach.
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The company's sleep business remains strong, with GLP-1 medications having no negative impact on demand, and referral activity for new device setups remaining solid.
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The regulatory environment remains stable, allowing Quipt Home Medical Corp (NASDAQ:QIPT) to operate with greater efficiency and confidence, supporting both margin performance and strategic execution.
Negative Points
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Revenue for fiscal Q1 2025 decreased by 2% year-over-year, from $62.6 million in fiscal Q1 2024 to $61.4 million.
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The discontinuation of the Medicare 7,525 blended rate and the withdrawal of Medicare Advantage members negatively impacted revenue and operating results.
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A disposable supply contract was not renewed in November 2024, resulting in an estimated annual impact of approximately $8 million.
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Adjusted EBITDA for Q1 2025 decreased by 8.7% compared to Q1 2024, from $15.3 million to $14 million.
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Operating expenses as a percentage of revenue increased to 49.5% in fiscal Q1 2025 compared to 47.6% in the corresponding period in 2024.