Quipt Home Medical Corp Stock Price, News & Analysis

Quipt Home Medical Corp. (NASDAQ: QIPT) announced its participation in the Sidoti Virtual Investor Conference on March 23-24, 2022. The management team will host a webcasted presentation at 9:15 AM EST on March 23. The live event will be available on the company's investor website and can be replayed afterward. CEO Greg Crawford highlighted the company's growth strategy, focusing on operational execution and integration of acquired assets, with plans for continued expansion through acquisitions. The company aims to enhance shareholder value by improving in-home monitoring services for chronic conditions.

Quipt Home Medical (NASDAQ:QIPT) reported a 30% increase in revenue for Q1 2022, reaching $29.5 million, compared to $22.8 million in Q1 2021. Adjusted EBITDA grew 16% year-over-year, totaling $6 million with a margin of 20.3%. Recurring revenue comprised 77% of total revenue. The company has a backlog of 8,000 patients awaiting sleep device setups, anticipating a revenue lift later in 2022. Cash flow from operations surged 90% year-over-year, reaching $5.3 million. The outlook for 2022 remains strong, with projected annual revenues of $180-$190 million.

Quipt Home Medical Corp. (NASDAQ: QIPT) announced the appointment of Brian J. Wessel as an Independent Director and Chair of the Audit Committee. With over 34 years of experience in global client service and financial expertise, Wessel's prior role as a senior partner at Ernst & Young enhances Quipt's strategic growth plans. The board now comprises four members, three of whom are independent. Additionally, Quipt received confirmation of compliance with Nasdaq's Listing Rules, following its recent filing, solidifying its position in the market.

Quipt Home Medical Corp. (NASDAQ:QIPT) announced the revocation of a management cease trade order by the British Columbia Securities Commission (BCSC), effective January 28, 2022. This follows the filing of its annual financial statements for the fiscal years ended September 30, 2021, and 2020. Quipt specializes in home medical equipment, focusing on respiratory care and chronic disease management. The company's strategy includes expanding service offerings to generate shareholder value and improve patient care.

Quipt Home Medical Corp. (NASDAQ:QIPT) reported a 41% revenue increase to $102.4 million for fiscal year 2021. Adjusted EBITDA rose 38% to $21.4 million, with recurring revenue exceeding 77%.

Q4 revenue surged 48% year-over-year to $29.1 million, driven by strong organic growth of 14%. The company expects annual run-rate revenue of $180-$190 million by the end of 2022.

Quipt Home Medical Corp. (NASDAQ: QIPT) will host its Q4 and Full Year Fiscal 2021 earnings conference call on February 1, 2022, at 10:00 a.m. (EST). The Company specializes in in-home monitoring and disease management, focusing on respiratory care for patients with chronic health conditions. Quipt aims to expand its service offerings and enhance shareholder value by increasing annual revenue per patient through comprehensive service consolidation.

Quipt Home Medical Corp. (NASDAQ: QIPT) provided a status update regarding its Management Cease Trade Order (MCTO) issued by the British Columbia Securities Commission due to the delay in filing audited financial statements for the fiscal years ended September 30, 2021, and 2020. On January 12, 2022, Nasdaq notified Quipt that it no longer complies with its listing rules. The company has 60 days to submit a compliance plan but expects to file the necessary documents by January 28, 2022, to regain compliance and lift the MCTO.

Quipt Home Medical Corp. (NASDAQ:QIPT) announces with regret the passing of Eugene Ewing, Independent Board Member and Audit Committee Chair. Mr. Ewing contributed significantly to the company's mission of becoming a leader in respiratory care since September 2018. He brought over 30 years of experience in various executive roles. The Board is actively seeking a qualified candidate to fill the Independent Director and Audit Committee Chair positions. Quipt remains focused on its goal to enhance shareholder value through expanded service offerings in home health care.

Quipt Home Medical Corp. has announced the acquisition of At Home Health Equipment for approximately $13.1 million. This strategic purchase will enhance Quipt's revenue base, adding an estimated $13 million annually, with an anticipated Adjusted EBITDA of $2.9 million. The integration is expected to significantly expand Quipt's market presence in Indiana, particularly in the respiratory care segment, benefiting from At Home's established insurance contracts and a new customer base of over 15,000 active patients. Quipt's annual run-rate revenue is projected to exceed $180-$190 million by the end of 2022.