Quipt Home Medical Corp Stock Price, News & Analysis

Quipt Home Medical Corp. (NASDAQ:QIPT) has signed a significant national insurance contract with a major U.S. health insurer, marking its second such agreement since April 2022. This contract is expected to enhance patient access and accelerate organic growth. The company is currently serving over 270,000 active patients and reports an anticipated annualized revenue of $220 million and adjusted EBITDA of $49 million. CEO Greg Crawford expressed optimism about leveraging this contract to capture more eligible patients and enhance the company's growth strategy, following its largest acquisition to date.

Quipt Home Medical Corp. (NASDAQ: QIPT) announced its participation in the Sidoti March Small-Cap Virtual Conference, scheduled for March 22-23, 2023. Members of the management team will host a webcasted presentation on March 22 at 1:45 PM ET, focusing on their end-to-end respiratory care services and in-home monitoring solutions. This event highlights Quipt's strategy to expand its offerings for chronic disease management in the U.S. healthcare market. The live presentation will be accessible on Quipt's website and available for replay afterward.

Quipt Home Medical Corp. reported strong financial results for Q1 fiscal 2023, achieving $40.8 million in revenue, a 38% year-over-year increase. Adjusted EBITDA reached $9 million with a 22% margin, up from $6 million (20.3% margin) a year ago. The net income was $325,000 compared to a loss of $2.1 million in Q1 2022. Organic growth increased 2% sequentially, while the company anticipates returning to historical growth levels of 8-10%. The acquisition of Great Elm Healthcare is expected to enhance revenue and EBITDA significantly, projecting annualized figures of $220 million and $49 million, respectively.

Quipt Home Medical Corp. (NASDAQ: QIPT) announced it will host its Fiscal Q1 2023 earnings conference call on February 14, 2023, at 10:00 a.m. (EST). The call aims to provide insights into the company's financial performance and growth strategies in the home medical equipment sector.

The company focuses on end-to-end respiratory care and in-home monitoring, catering to patients with chronic diseases such as heart and pulmonary conditions. Quipt seeks to enhance shareholder value by expanding its service offerings and improving patient care.

Quipt Home Medical Corp. has announced the acquisition of Great Elm Healthcare, effective December 31, 2022. This strategic move enhances Quipt's standing as a leading provider in the U.S. respiratory care market, with combined annualized revenues expected to reach $220 million and anticipated adjusted EBITDA of $49 million. The total purchase price is $80 million, comprising cash, assumed debt, and stock. The acquisition is projected to generate $2 million in cost savings and synergies, alongside expanding Quipt's geographic reach to 270,000 patients across 115 locations in 26 states.

Quipt Home Medical Corp. (NASDAQ:QIPT) reported robust financial results for the fiscal year 2022, achieving revenue of $139.9 million, a 36.6% increase from 2021. The Adjusted EBITDA of $29.2 million represents a 20.9% margin, stable amidst inflationary pressures. Notably, net income turned positive at $4.8 million compared to a loss of $6.2 million in 2021. The customer base grew by 23% to 173,203 unique patients. Quipt's acquisition strategy remains strong, with eight acquisitions completed in 2022. Management anticipates continued growth due to favorable market conditions and a strong balance sheet.

Quipt Home Medical Corp. (NASDAQ: QIPT) announced its Q4 and Full Year Fiscal 2022 earnings conference call on December 22, 2022, at 10:00 a.m. (EST). The call aims to update stakeholders on the Company's performance, focusing on its in-home monitoring and respiratory care services in the U.S. The Company is committed to expanding its chronic disease management offerings. The live audio webcast will be accessible via their investor website, reflecting Quipt's goal to enhance shareholder value through increased annual revenue per patient and a broader range of services.

Quipt Home Medical Corp. announced the closure of $110 million in senior secured credit facilities with CIT Bank, enhancing its financial flexibility. This increase from the initially planned $80 million reflects strong demand from lenders. The funds will primarily be used for future acquisitions and working capital. Quipt aims to leverage this financial resource to pursue organic and inorganic growth in the U.S. healthcare market, focusing on respiratory solutions amidst inflation and supply chain challenges.