Quipt Home Medical Corp - QIPT STOCK NEWS

Quipt Home Medical Corp. (NASDAQ: QIPT) has announced its strategic priorities for 2025, focusing on enhancing shareholder value through multiple initiatives. The company plans to accelerate organic growth by expanding De Novo locations, following successful openings in Florida and Alabama, and deepening referral networks with healthcare providers.

Key strategic priorities include implementing a share repurchase program through Normal Course Issuer Bid (NCIB), reflecting confidence in the company's fundamentals. Quipt is also pursuing strategic M&A opportunities with healthcare systems through potential joint ventures and acquisitions, aiming to integrate home-based care within larger healthcare ecosystems.

The company is launching the Quipt Sales Accelerator program for advanced sales training and expanding its product portfolio with new respiratory offerings. At its Annual General Meeting, shareholders approved the re-appointment of BDO USA as auditor and elected four directors. The board approved grants of 425,000 stock options at US$2.37 per share and 2,478,753 restricted stock units under its 2024 Equity Incentive Plan.

Quipt Home Medical Corp. (NASDAQ: QIPT; TSX: QIPT), a U.S. based home medical equipment provider, has announced a cooperation agreement with Kanen Wealth Management. Under this agreement, Kanen has withdrawn its intent to solicit proxies for four director candidates at the 2025 annual general meeting.

The agreement grants Kanen Board access rights while maintaining at least 3.5% ownership of outstanding shares, including quarterly discussions with the Board Chairman or non-executive director. A new Board committee will be established to review Kanen's recommendations on corporate governance and operations.

The agreement includes a customary standstill and voting commitment from Kanen. DLA Piper, Vinson & Elkins L.L.P., and Goodmans LLP serve as legal advisors, with Longacre Square Partners as strategic advisor.

Quipt Home Medical (NASDAQ: QIPT) reported Q1 2025 financial results with revenue of $61.4 million, down 2% from Q1 2024's $62.6 million. The company faced challenges including the discontinuation of Medicare 75/25 blended rate, withdrawal of Medicare Advantage members, and non-renewal of a disposable supply contract, with a cumulative annual impact of approximately $8.0 million.

Key metrics include: net loss improvement to ($1.1) million or ($0.03) per share, operating cash flow of $9.3 million, and Adjusted EBITDA of $14.0 million (22.8% of revenue). The company maintains strong recurring revenue at 77% of total revenue and serves approximately 157,000 unique patients, a 1% year-over-year increase.

The company completed 221,000 unique set-ups/deliveries in Q1 2025, up 3% from Q1 2024, with 124,000 respiratory resupply set-ups/deliveries. Quipt operates across 140+ locations with approximately 36,000 referring physicians.

Quipt Home Medical Corp. (NASDAQ: QIPT) (TSX: QIPT), a U.S. based home medical equipment provider specializing in respiratory care, has received a proxy solicitation notice from Philotimo Fund, LP, affiliated with Kanen Wealth Management, (KWM). The notice indicates KWM's intention to nominate four director candidates to Quipt's Board of Directors in opposition to the company's candidates.

The company's Board and Nominating and Corporate Governance Committee will review KWM's notice for compliance with company Articles and applicable laws. Lead Independent Director Mark Greenberg emphasized the company's commitment to executing their strategic growth plan and maintaining high corporate governance standards. The company states it has delivered consistent performance despite challenging industry conditions.

Quipt notes that it has not received a timely, valid, and compliant director nomination notice under U.S. securities laws and company Articles. No immediate shareholder action is required.

Quipt Home Medical Corp. (NASDAQ: QIPT; TSX: QIPT), a U.S. based home medical equipment provider specializing in end-to-end respiratory care, has scheduled the release of its fiscal first quarter 2025 financial results for Monday, February 10, 2025, after market close.

The company will hold a conference call for investors on Tuesday, February 11, 2025, at 10:00 a.m. (ET), hosted by CEO Gregory Crawford and CFO Hardik Mehta. Participants can join via Canada/US Toll Free at 1 (844) 763 8274 or International at 1 (647) 484 8814. A live webcast will be available through the investor section of Quipt's website.

Quipt Home Medical (NASDAQ: QIPT) reported its fiscal year 2024 financial results, posting revenue of $245.9 million, a 16.2% increase from 2023's $211.7 million. The company achieved organic growth of $7.1 million (3%) and maintained strong recurring revenue at 78% of total revenue. Adjusted EBITDA reached $57.9 million (23.5% margin) compared to $50.6 million in 2023.

Q4 2024 revenue was $61.3 million, up 3% from Q4 2023, with sequential organic growth of 1%. The company faced challenges including a Medicare 75/25 relief pause and a cyberattack on Change Healthcare, impacting revenue by approximately $5 million and $3 million respectively. The customer base grew 4% year-over-year to 153,000 unique patients, with completed set-ups/deliveries increasing 13% to 854,000.

Quipt Home Medical Corp. (NASDAQ: QIPT) (TSX: QIPT), a U.S. based home medical equipment provider specializing in end-to-end respiratory care, has scheduled the announcement of its fiscal fourth quarter and full year 2024 financial results for December 16, 2024, after market close. The company will host a conference call for investors on December 17, 2024, at 10:00 a.m. ET, led by CEO Gregory Crawford and CFO Hardik Mehta. The call will be accessible via toll-free numbers for Canada/US participants and international callers, with a live webcast available through the company's investor relations website.

Quipt Home Medical Corp. (NASDAQ: QIPT; TSX: QIPT) reported its Q3 fiscal 2024 financial results. Key highlights include:

- Revenue increased 6.1% year-over-year to $64.0 million
- Organic growth contributed 3% year-over-year
- Adjusted EBITDA rose 2.7% to $14.2 million, representing 22.3% of revenues
- Net loss was $(1.7) million, or $(0.04) per diluted share
- Cash flow from operations for the nine months ended June 30, 2024, was $28.6 million
- The company served 270,087 unique patients in the nine months ended June 30, 2024, a 12.9% increase

Quipt faced challenges including the expiration of the Medicare 75/25 blended rate and the impact of the Change Healthcare cyber-attack. Despite these, the company maintains a strong balance sheet with a Net Debt to Adjusted EBITDA Leverage Ratio of 1.5x.

Quipt Home Medical Corp. (NASDAQ: QIPT) (TSX: QIPT), a U.S. based home medical equipment provider specializing in end-to-end respiratory care, has announced it will release its fiscal third quarter 2024 financial results on August 14, 2024, after market close. The company will host a conference call for investors on August 15, 2024, at 10:00 a.m. ET.

CEO Gregory Crawford and CFO Hardik Mehta will lead the call. Participants can join using the following numbers: Canada/US Toll Free: 1 (844) 763 8274, International: 1 (647) 484 8814. A live webcast will also be available on the company's investor relations website.