The following is a summary of the Quipt Home Medical Corp. (QIPT) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Q3 2024 reported revenue of $64 million, a 6.1% year-over-year increase.

• Adjusted EBITDA was $14.2 million with a margin of 22.3%.

• Q3 organic revenue growth was 3%, with the nine-month period showing a total of 21.4% revenue growth year-over-year.

• Cash flow from operations increased to $28.6 million for the nine-month period, up by 4.9%.

Business Progress:

• Expanded services for pulmonary and cardiovascular diseases, focusing on home-delivered respiratory care and complementary equipment.

• Increased unique patient interactions to 641,786 setups/deliveries in Q3 2024, a 17.3% increase.

• Ongoing improvements in operational efficiencies, integrating technology like automated resupply platforms.

• Matured strategic focus on capital management, leveraging strong balance sheet for growth opportunities, especially in mergers and acquisitions.

Opportunities:

• Anticipated rise in market demand for PAP therapy and treatment of obstructive sleep apnea (OSA) due to new data supporting the benefits of GLP-1 medication.

• Expansion into the diabetes market with the inclusion of continuous glucose monitors (CGMs) which complements the treatment of existing patient base with sleep apnea.

Risks:

• Financial impacts from the 75-25 Medicare rate cuts and transitions affecting revenue streams.

• Change Healthcare cyberattack resulted in increased bad debt expenses and necessitated higher working capital needs.

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