Quipt Home Medical Corp Stock Price, News & Analysis

Quipt Home Medical Corp. (NASDAQ:QIPT) reported record preliminary financial results for Q4 2021, with revenue between $27.6 million and $28.1 million. Adjusted EBITDA is projected at $5.3 million to $5.6 million. The company announced several acquisitions to bolster its operations, including two businesses in Mississippi and Illinois, with a combined revenue of $5.2 million and a strong outlook for 2022, anticipating annual run-rate revenue of $180-$190 million.

They face potential delays in financial audits due to Nasdaq listing requirements.

Quipt Home Medical Corp (NASDAQ:QIPT) announced it will miss the deadline of December 29, 2021, for filing its audited annual financial statements for fiscal years ending September 30, 2021, and 2020. The delay is attributed to the accelerated audit requirements following its Nasdaq listing. The Company has applied to the British Columbia Securities Commission for a Management Cease Trade Order (MCTO) prohibiting its management from trading securities until the filing is complete. There is no assurance that an MCTO will be issued, but the Company aims to file the documents by January 28, 2022.

Quipt Home Medical Corp. (NASDAQ:QIPT) announced a non-binding letter of intent to acquire a private respiratory care company operating in seven U.S. states, generating approximately $14 million in annual revenue and $1 million in net income. The acquisition aims to enhance Quipt's respiratory care offerings in long-term settings and leverage cross-selling opportunities. Closing is expected within 90 days, pending due diligence and necessary approvals. The acquisition is projected to add $14 million in revenue and $1 million in net income to Quipt, with no assumption of long-term debt from the target.

Quipt Home Medical Corp. has announced the acquisition of a privately held biomedical services company, enhancing its presence in the home medical equipment sector. This strategic move, valued at approximately $700,000, is projected to increase Quipt's annual revenues by $1.5 million and net income by $225,000. The acquisition allows Quipt to offer biomedical repair services, facilitating operational efficiency for healthcare providers and positioning the company for growth within long-term care facilities and hospital systems.

Quipt Home Medical Corp. (NASDAQ:QIPT) announced a non-binding letter of intent to acquire a private respiratory care company in the Midwest, which recorded approximately $13 million in revenues and $1.6 million in net income over the last twelve months. The acquisition aims to increase Quipt’s active patient count by over 15,000, bringing the total to around 170,000. The expected annual revenue impact is approximately $13 million, enhancing Quipt’s market presence and synergies while also providing new growth opportunities in clinical ventilation therapy. Closing is anticipated within 60 days.

Quipt Home Medical Corp. (NASDAQ:QIPT) has successfully acquired a business in Illinois, enhancing its annual revenues by approximately $2.5 million with an expected Adjusted EBITDA margin of 25%. This acquisition adds over 3,700 active patients and strengthens Quipt's position in a market with a high prevalence of COPD. The total transaction value is $2.2 million, including $1.7 million in cash for DME operations. This strategic expansion complements Quipt's existing infrastructure and patient base, contributing to its growth strategy across key U.S. states.

Quipt Home Medical Corp. (NASDAQ:QIPT) has acquired a Mississippi-based business for approximately $1.95 million. The acquisition is expected to generate $2.7 million in annual revenues and an Adjusted EBITDA of $0.5 million post-integration, resulting in a 20% margin. This expands Quipt’s operational footprint to 150,000 active patients and adds 590 referring physicians. The new locations will enhance Quipt's cross-selling opportunities and strengthen its insurance contracts in the region.

Quipt Home Medical Corp. (NASDAQ: QIPT) announced management's upcoming participation in investor conferences, including the Benzinga Healthcare Small Cap Conference on September 30, 2021, and the MicroCap Rodeo on October 5, 2021. Live webcasts of these presentations will be accessible on the company's website, with replays available post-event. Quipt focuses on in-home monitoring and chronic disease management, aiming to enhance shareholder value by expanding service offerings for patients with various health conditions.

Quipt Home Medical Corp. (NASDAQ:QIPT) will ring the Nasdaq Opening Bell on September 2, 2021, in celebration of its recent listing. CEO Greg Crawford highlighted the achievement as a milestone for the company and its over 600 employees. Quipt has experienced significant growth, adding 25,000 active patients and generating over $11 million in revenue across four new states in the last two months. The company aims to expand its offerings in chronic disease management while enhancing shareholder value by increasing annual revenue per patient.