Quipt Home Medical reports Q4 EPS 5c vs. (4c) a year ago

Reports Q4 revenue $40.1M, consensus $40.57M. "The record results seen in Q4 and FY2 are directly attributable to the expansion of our patient-centric ecosystem into favorable geographies across the U.S. through our strategic growth initiatives. Despite an ambitious acquisition pace and inflationary operating environment, I am very pleased with our ability to grow our revenue by 37% and maintain above 20% margins for FY22 by continuing to implement our steady operating processes and integration activities. As a healthcare organization with a concentration on respiratory treatment, we feel well protected from potential economic challenges given the nature of our business and sector," said CEO Greg Crawford. "Quipt is in the best position in its history, with continued growth in revenue and Adjusted EBITDA, continued margin expansion, a strong balance sheet, and a provider of in-home clinical respiratory care, now providing services to 200,000 active patients in 19 U.S. states. We anticipate continued growth in 2023 due to favorable regulatory conditions, persistently high demand for respiratory products and services, robust demographic trends, and our continued operating performance seen throughout the business". CFO Hardik Mehta added, "We are extremely proud of our record financial and operating performance in FY22, and our ability to sustain an Adjusted EBITDA margin above 20% is a tremendous accomplishment given the current operating climate. We surpassed $160M in Run-Rate Revenue in Q4 and our continued progress in strategically building scale utilizing the infrastructure we have in place is producing consistent financial results, inclusive of over 77% of our revenue being classified as recurring…Our strong financial position enables us to focus on strategic acquisition candidates that can expand our company into favorable geographic areas in the U.S., and we continue to remain confident in our continued growth and financial performance."