In This Article:
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Revenue: $57.4 million for fiscal Q2 2025, down 6% year-over-year.
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Adjusted EBITDA Margin: 23.3% for Q2 2025.
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Net Loss: $3 million or $0.07 per diluted share for Q2 2025.
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Cash Flow from Operations: $18.3 million for the six months ended March 31, 2025.
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Operating Expenses: 50.8% of revenue in fiscal Q2 2025.
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CapEx: $17.9 million for the six months ended March 31, 2025.
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Total Liquidity: $30.7 million, including $17.1 million in cash.
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Customer Base: Declined 2% year-over-year to 146,000 unique patients as of March 31, 2025.
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Recurring Revenue: 81% of total revenue for Q2 2025.
Release Date: May 13, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Quipt Home Medical Corp (NASDAQ:QIPT) operates over 130 locations across 26 states, serving over 223,000 active patients, showcasing a strong national presence.
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The company maintains a focus on respiratory care, which comprises approximately 75% of its product mix, aligning with macro trends such as an aging population and rising prevalence of chronic respiratory conditions.
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Adjusted EBITDA margin was 23.3%, demonstrating strong operational efficiency despite revenue softness.
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Quipt Home Medical Corp (NASDAQ:QIPT) has a solid recurring revenue base, accounting for 81% of total revenue in Q2 2025.
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The company has a strong balance sheet with $17.1 million in cash and total liquidity of $30.7 million, providing financial flexibility for growth initiatives.
Negative Points
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Revenue for fiscal Q2 2025 was $57.4 million, down 6% year-over-year, reflecting softer-than-expected performance.
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The company's customer base declined 2% year-over-year, serving 146,000 unique patients as of March 31, 2025.
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A disposable supply contract was not renewed, contributing to the overall revenue impact.
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Net loss for Q2 2025 was $3 million or $0.07 per diluted share, compared to $739,000 or $0.02 per diluted share for Q2 2024.
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Operating expenses as a percentage of revenue increased to 50.8% in fiscal Q2 2025 compared to 48.9% in the corresponding period in 2024.
Q & A Highlights
Q: Can you provide more details on the revenue impact from the Humana contract and the disposable supply contract issue? A: Gregory Crawford, CEO: The revenue impact was due to referral patterns rather than the contract size. We underestimated the referral impact from Humana's PPO plans. The disposable supply contract was not renewed due to a change in staffing, which was unexpected as it was a long-standing contract.