Quipt Home Medical Corp. announced its financial results for the first quarter of fiscal year 2025, ended December 31, 2024. The company reported total revenue of $61.3 million, a 1% decrease from $61.9 million in the prior year's first quarter.
Adjusted EBITDA for the quarter was $14.1 million, down 5% from $14.8 million in Q1 2024, with an Adjusted EBITDA margin of 23.0%. The company reported a net loss of $1.8 million, or $0.04 per diluted share, compared to a net loss of $0.7 million, or $0.02 per diluted share, in the same period last year.
Management highlighted operational enhancements and cost structure optimization efforts, which are expected to support strong margin performance throughout the year. The company aims to return to historical organic growth levels in calendar 2025.
Key operational metrics showed slight declines, with 148,000 patients serviced (down from 149,000) and 206,000 equipment setups/deliveries (down from 210,000) compared to Q1 2024. Recurring revenue remained strong at 77% of total revenue.
The company maintained a conservative balance sheet with a net debt to Adjusted EBITDA leverage ratio of 1.5 times. This financial flexibility is intended to support organic growth initiatives and strategic expansion.
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