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QIPT

Quipt Home Medical Corp.

QIPT

Quipt Home Medical Corp. • NASDAQ
$2.44 ▲ 1.24% (+0.03)
Market Cap $106.00 M
52w High $3.27
52w Low $1.35
Dividend Yield 0%
P/E -10.17
Volume 75.88K
Outstanding Shares 43.44M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $58.289M ▲ $31.041M ▲ $-3.025M ▲ -5.19% ▲ $-0.071 ▼ $10.029M ▼
Q2-2025 $57.376M ▼ $29.893M ▼ $-3.042M ▼ -5.302% ▼ $-0.07 ▼ $11.667M ▼
Q1-2025 $61.381M ▲ $43.166M ▲ $-1.084M ▲ -1.766% ▲ $-0.025 ▲ $13.24M ▲
Q4-2024 $52.63M ▼ $36.803M ▼ $-3.11M ▼ -5.909% ▼ $-0.073 ▼ $11.726M ▼
Q3-2024 $63.967M $46.883M $-1.701M -2.659% $-0.04 $12.654M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $11.25M ▼ $236.092M ▼ $133.556M ▼ $102.536M ▼
Q2-2025 $17.145M ▲ $244.645M ▲ $141.075M ▲ $103.57M ▼
Q1-2025 $15.451M ▼ $242.672M ▼ $136.502M ▼ $106.314M ▼
Q4-2024 $16.174M ▲ $247.248M ▼ $140.057M ▲ $107.191M ▼
Q3-2024 $14.403M $249.784M $139.983M $109.801M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-3.026M ▲ $9.668M ▲ $-4.394M ▼ $-11.778M ▼ $-5.895M ▼ $4.43M ▼
Q2-2025 $-3.041M ▼ $8.946M ▼ $-1.569M ▲ $-5.697M ▼ $1.694M ▲ $7.335M ▲
Q1-2025 $-1.084M ▲ $9.3M ▲ $-3.648M ▼ $-5.522M ▼ $-723K ▼ $5.619M ▲
Q4-2024 $-3.11M ▼ $6.739M ▼ $-3.363M ▲ $-1.794M ▲ $1.771M ▲ $3.278M ▼
Q3-2024 $-1.701M $11.179M $-4.125M $-7.415M $-201K $9.651M

Five-Year Company Overview

Income Statement

Income Statement Quipt’s income statement shows a business that has been growing steadily but is still hovering around break‑even profitability. Revenue and gross profit have risen consistently over the last few years, and core operating performance has moved from essentially flat to modestly profitable on an adjusted basis. However, bottom‑line net income has been inconsistent, with small losses or near‑zero profit, and earnings per share have been somewhat volatile. Overall, the company looks like a growth story that has chosen to reinvest and acquire rather than optimize for maximum short‑term profit, which can create upside if execution is strong but also means results may remain choppy from year to year.

Balance Sheet

Balance Sheet The balance sheet reflects a company that has scaled up its asset base while maintaining a reasonable financial foundation. Total assets have expanded meaningfully, driven by growth and acquisitions, while shareholder equity has also trended higher, indicating that value is being built rather than diluted away. Debt has increased with growth but does not appear extreme relative to the size of the business, suggesting manageable leverage if cash flows hold up. Cash balances are steady rather than abundant, so the company likely has enough flexibility to operate but not a large cushion to absorb big shocks without additional financing or discipline on spending.

Cash Flow

Cash Flow Cash flow is a relative strength. Quipt is generating solid cash from its ongoing operations, and after modest capital spending needs, it is consistently producing positive free cash flow. Capital expenditures appear measured and predictable, which supports planning and reduces funding risk. This pattern indicates that, despite thin accounting profits, the underlying business throws off real cash, giving management room to fund acquisitions, service debt, and invest in further growth. The key watch point is whether this healthy cash generation can be sustained as the company layers on more acquisitions and integration projects.

Competitive Edge

Competitive Edge Quipt occupies a focused niche in home medical equipment with a particular emphasis on respiratory care, which gives it specialized clinical credibility and strong ties to pulmonologists and health systems. It competes in a fragmented market that includes both large national players and many regional providers. Quipt’s edge comes from its end‑to‑end service model, high share of recurring revenue, deep integration with hospital discharge processes, and an active acquisition strategy that builds local scale. At the same time, it operates in a reimbursement‑driven industry, exposed to regulatory and payer changes, and it must continuously prove it can integrate acquired businesses and maintain service levels against larger, well‑funded rivals.

Innovation and R&D

Innovation and R&D Rather than focusing on a single flagship device, Quipt’s innovation centers on a tech‑enabled care platform. Remote patient monitoring, data analytics, and workflow tools are tightly woven into its service model, helping it track patient adherence, prevent readmissions, and streamline billing and logistics. The company is using technology to deepen relationships with hospitals and health systems and to create a more “sticky” ecosystem for patients and physicians. Looking ahead, expansion into AI‑enhanced monitoring, new chronic‑care verticals, and scalable joint‑venture structures with health systems are key levers. The main risk is execution: realizing promised margin improvements from acquisitions and turning these digital capabilities into consistently better economics, not just better stories.

Summary

Quipt Home Medical looks like an emerging, scale‑up healthcare services platform rather than a mature, high‑margin medical device company. Revenue and gross profit are growing well, while reported earnings remain close to break‑even, reflecting a strategy that prioritizes expansion and acquisitions. The balance sheet shows growing assets and equity with moderate, manageable leverage, and cash flow generation is a clear positive, supporting ongoing investment. Competitively, Quipt benefits from a focused respiratory niche, a high share of recurring revenue, and deep integration with health systems in an industry that still has many smaller, less sophisticated players. Its tech‑enabled, patient‑centric model and acquisition “playbook” create meaningful opportunity, but success will depend on continued careful integration of deals, protection of reimbursement levels, and the company’s ability to turn its innovation and partnerships into durable, higher‑margin growth over time.

NEWS

October 22, 2025 · 12:10 PM UTC

Lakeview Urges Quipt's Board to Initiate a Legitimate Review of All Strategic Options Including a Sale, Inclusive of a Credible Bidder's $3.10 All-Cash Offer

Read more

September 3, 2025 · 7:30 AM UTC

Quipt Home Medical Completes Strategic Acquisition of Hart Medical Adding $60 Million in Revenue

Read more