InfuSystem’s ITS business drives Q3 growth
By HME News Staff
Updated 8:46 AM CST, Wed November 9, 2022
ROCHESTER HILLS, Mich. – InfuSystem Holdings reported net revenues of $27.3 million for the third quarter, an increase of 3% over the same period the prior year. Integrated Therapy Services (ITS) net revenue was $17.4 million, an increase of 5% vs. the prior year. Durable Medical Equipment Services net revenue was $9.9 million, a decrease of 1% vs. the prior year. “The financial performance for the third quarter was solid with record revenue of $27.3 million and strong gross margin of 59.5%, which increased 202 basis points versus the comparable quarter last year,” said Rich Dilorio, CEO. “I am proud that our talented team continues to deliver industry-leading service levels, which we believe sets the stage for a strong business ramp going into 2023.” Gross profit was $16.2 million, an increase of 6% vs. the prior year. InfuSystem is estimating total revenue of approximately $112 million for the full year 2022, which is at the low end of the previously stated guidance of 10% to 13% revenue growth for 2022.
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