InfuSystem Holdings, Inc. reported third‑quarter 2025 financial results, posting net revenue of $36.49 million, up 3 % from $35.32 million a year earlier. Net income was $2.26 million, or $0.11 per diluted share, beating consensus earnings of $0.07. Adjusted EBITDA reached $8.30 million, giving a margin of 22.8 %, up 0.5 percentage points from the prior quarter.
Segment performance: Patient Services generated $22.40 million, an 8 % increase YoY; Device Solutions declined 3 % to $14.10 million, largely due to a restructuring of a major biomedical services contract that reduced volume but increased pricing. Wound Care revenue surged 115 % to $1.00 million, driven by a new pneumatic compression device partnership and the Apollo Medical revenue‑cycle application, and the segment’s profitability improved after integrating a new billing platform.
The company completed a $2.20 million share‑repurchase during the quarter and generated operating cash flow of $17.30 million, a 38 % rise from the same period last year. Liquidity stood at $54.6 million, with $53.6 million available under its revolving line of credit, and net debt had decreased.
InfuSystem reaffirmed its full‑year 2025 guidance, maintaining a net‑revenue growth outlook of 6 %–8 % and an adjusted EBITDA margin of 20 % or higher. The guidance was revised down from 8 %–10 % in Q2 2025 and the margin target was raised from 18.8 % to 20 %. The company also highlighted ongoing ERP implementation and oncology growth, noting a record quarter for the Oncology segment and a new contract with a large hospital system.
Management will discuss the results and outlook during a conference call on Tuesday, November 4, 2025, at 9:00 a.m. Eastern Time. Participants can dial (833) 366‑1127 or (412) 902‑6773, or listen to a live webcast on the investor relations website.
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