InfuSystem reports top-line growth of 9% in Q4

ROCHESTER HILLS, Mich. – InfuSystem Holdings reported net revenues of $28.8 million and $109.9 million, respectively, for the fourth quarter and full year 2022. 

For the quarter, gross profit was $16.1 million, and gross margin was 55.8%; for the full year, gross profit was $62.6 million, and gross margin was 56.9%. Adjusted EBITDA for the full year was $20.7 million, a decrease of 14% vs. the prior year. 

“We had a highly productive year in 2022 with solid performance achieving record revenue for the fourth consecutive year of $110 million and developing key strategic partnerships laying strong foundations for the future,” said Richard Dilorio, CEO. “All of our core businesses remain strong, as our growth opportunities in pain and biomedical services continue to gain measurable results.”  

InfuSystem reported top-line growth of 9% for the fourth quarter, driven by 15% growth in DME and 5% growth in Integrated Therapy Services, which included its Pain Management business. 

“Our Pain Management business within ITS finished the year on a strong note with growth of 45% for the fourth quarter,” said Dilorio. “This is especially gratifying given our team had to overcome significant headwinds that included lingering COVID-related issues and supply chain challenges during the first half of the year, which had a material impact on our ability to onboard new customers and provide patient treatments.” 

For full year 2023, InfuSystem anticipates revenue growth to be in the range of 8% to 10%, and adjusted EBITDA margin to be greater than 19%.