The following is a summary of the Quipt Home Medical Corp. (QIPT) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Quipt Home Medical reported Q1 2024 record revenue of $65.4 million, a 60% increase year-over-year.

• The adjusted EBITDA was $15.3 million, marking a 71% rise from the same period last year.

• The company's recurring revenue now represents 83% of total revenue.

• Cash flow from continuing operations significantly increased by 143% to $11.7 million.

• Quipt has a cash balance of $18.3 million and a total credit ability of $41 million.

Business Progress:

• Quipt Home Medical serves over 155,434 unique patients, a 56% increase from last year.

• Completed 215,370 unique setups and deliveries, including 123,190 respiratory resupply setups deliveries, marking respective increases of 47% and 77%.

• The company expects a steady organic growth of 8% to 10% for fiscal 2024 driven by their growing sales team, product cross-selling, and market expansion.

• The company aims to use technology to drive automation and enhance operational efficiency.

• Plans to capitalize on the increasing need for in-home medical equipment and services due to an aging population and a rise in chronic illnesses.

• Continuation of strategic acquisitions to expand both their payer base and geographic reach.

• Focusing on their sleep segment in response to an increasing prevalence of obstructive sleep apnea for potential future market expansion.

More details: Quipt Home Medical IR

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