Quipt Home Medical Corp Stock Price, News & Analysis

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.

Quipt Home Medical (NASDAQ: QIPT; TSX: QIPT) announced its Q2 fiscal 2024 results, reporting a 10% increase in revenue to $64.0 million and a 14% increase in adjusted EBITDA to $14.9 million. Despite the expiration of the Medicare 75/25 blended rate and withdrawal of some Medicare Advantage members, the company maintained a strong adjusted EBITDA margin of 23.3%. Net income was a loss of $1.4 million, or $0.03 per diluted share. Cash flow from operations grew to $17.1 million for the six months ended March 31, 2024. Operational highlights include an 8% increase in unique patients served and a 6% increase in unique set-ups/deliveries. The company also announced a Normal Course Issuer Bid (NCIB) for share repurchases worth up to $5.0 million. Management highlighted resilience amid industry challenges and a strong balance sheet with $32.9 million in liquidity.

Quipt Home Medical Corp. (QIPT) announced the filing of its final base shelf prospectus, allowing the company to offer up to C$300,000,000 of common shares, preferred shares, debt securities, warrants, subscription receipts, and units over a 25-month period. The prospectus aims to provide access to new capital and securities for strategic acquisitions as needed.

Quipt Home Medical Corp. will release its fiscal second-quarter 2024 financial results on May 15, 2024. The Company, a U.S.-based home medical equipment provider specializing in respiratory care, will host a conference call the following day. The call-in details are provided for investors, and a webcast link will be available on the company's website.