| ● | Compared to approximately 215,000 unique set-ups/deliveries in Q1 2024, the Company completed approximately 221,000 unique set-ups/deliveries in Q1 2025, an increase of 3%. This includes approximately 124,000 respiratory resupply set-ups/deliveries for Q1 2025, compared to approximately 123,000 for Q1 2024, an increase of 1%, which the Company credits to its continued use of technology and centralized intake processes. |
| ● | The Company’s resupply program is a major proponent of the 77% Recurring Revenue1 base as the Company has significantly scaled, now representing 48% of the Recurring Revenue mix, driving higher margin revenue, and now consists of 174,000 patients for the twelve months ended December 31, 2024, compared to 172,000 patients for the twelve months ended September 30, 2024. |
| ● | Consistent demand and referral patterns across all major product categories. |
| ● | The Company has approximately 36,000 referring physicians, and over 140 locations. |
1 Non-GAAP financial measure or ratio. See “Non-GAAP Financial Measures” below for additional information.
Management Commentary
“Our fiscal first quarter results reflect the tangible progress we've made in strengthening our operations and positioning the business for long-term growth,” said Gregory Crawford, Chairman and Chief Executive Officer of Quipt. “Our priorities for the fiscal year ending September 30, 2025 and beyond are driving organic revenue growth, achieving operational net profit, generating positive cash flow, and expanding Adjusted EBITDA1. We are focused on expanding our presence in both existing and new markets and leveraging our scalable business platform to broaden our product offerings and service reach. To support these objectives, we continue to optimize our organizational structure, enhancing operational efficiencies by reducing redundancies, and centralizing back-office processes. These measures are streamlining operations, improving scalability, and positioning the business for sustainable long-term growth. Furthermore, we remain committed to exploring and pursing all avenues to drive shareholder value.”
“Our financial results highlight the operational enhancements we have made as we continue to optimize our cost structure,” said Hardik Mehta, Chief Financial Officer of Quipt. “These enhancements are enabling us to operate more efficiently while maintaining our commitment to high-quality patient care. As we continue to execute our strategic growth plans, we expect this operational discipline to support strong margin performance throughout the year. As we look ahead, our balance sheet flexibility and disciplined financial management position us to drive a return towards historical organic growth in calendar 2025 and build long-term shareholder value.”
ABOUT QUIPT HOME MEDICAL CORP.
The Company provides in-home monitoring and disease management services including end-to-end respiratory solutions for patients in the United States healthcare market. It seeks to continue to expand its offerings to include the management of several chronic disease states focusing on patients with heart or pulmonary disease, sleep disorders, reduced mobility, and other chronic health conditions. The primary business objective of the Company is to create shareholder value by offering a broader range of services to patients in need of in-home monitoring and chronic disease management. The Company’s organic growth strategy is to increase annual revenue per patient by offering multiple services to the same patient, consolidating the patient’s services, and making life easier for the patient.
Forward-Looking Statements
Certain statements contained in this press release constitute “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 or “forward-looking information” as such term is defined in applicable Canadian securities legislation (collectively, “forward-looking statements”). The words “may”, “would”, “could”, “should”, "potential”, "will”, "seek”, "intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect”, “outlook”, or the negatives thereof or variations of such words, and similar expressions as they relate to the Company, including: the Company anticipating strong margin performance throughout the year and a return to historical organic growth levels in calendar 2025; are intended to identify forward-looking information. All statements other than statements of historical fact, including those that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance are not historical facts and may be forward-looking statements and may involve estimates, assumptions and uncertainties that could cause actual results or outcomes to differ materially from those expressed in the forward-looking statements. Such statements reflect the Company's current views and intentions with respect to future events, and current information available to the Company, and are subject to certain risks, uncertainties and assumptions, including, without limitation: the Company successfully identifying, negotiating and completing additional acquisitions; operating and other financial metrics maintaining their current trajectories, the Company not being impacted by any further external and unique events like the Medicare 75/25 rate cut and the Change Healthcare cybersecurity incident for the remainder of the calendar year and in 2025; and the Company not being subject to a material change to it cost structure. Many factors could cause the actual results, performance or achievements that may be expressed or implied by such forward-looking statements to vary from those described herein should one or more of these risks or uncertainties materialize. Examples of such risk factors include, without limitation: risks related to credit, market (including equity, commodity, foreign exchange and interest rate), liquidity, operational (including technology and infrastructure), reputational, insurance, strategic, regulatory, legal, environmental, and capital adequacy; the general business and economic
