Quipt: Results reflect ‘tangible progress’ 

CINCINNATI – Quipt Home Medical has reported revenue of $61.4 million for the first quarter of fiscal year 2025, a 2% increase compared to the same period last year. The company says its revenue was reduced by about $1.5 million for the three months ended Dec. 31, 2024, vs. the same period in 2023 due to: 

• Discontinued 75/25 blended Medicare reimbursement rates for certain areas 
• Withdrawal of Medicare Advantage members due to a capitated agreement with other providers 
• Discontinued disposable supply contract 

Quipt says the cumulative annual impact of these three events is estimated to be about $8 million. The company reported a net loss of $1.1 million vs. a net loss of $1.5 million. It reported adjusted EBITDA of $14 million (22.8% of revenue) vs. $15.3 million (24.5% of revenue), a 8.7% decrease. The company says its customer base increased 1% year over year to 157,000 and its completed setups/deliveries increased 3% to 221,000. The latter includes a 1% increase in respiratory resupply setups/deliveries to 124,000, driven by continued use of technology and centralized intake processes. “Our fiscal first quarter results reflect the tangible progress we’ve made in strengthening our operations and positioning the business for long-term growth,” said Gregory Crawford, chairman and CEO of Quipt. “Our priorities for the fiscal year ending Sept. 30, 2025, and beyond are driving organic revenue growth, achieving operational net profit, generating positive cash flow, and expanding Adjusted EBITDA. We are focused on expanding our presence in both existing and new markets and leveraging our scalable business platform to broaden our product offerings and service reach. To support these objectives, we continue to optimize our organizational structure, enhancing operational efficiencies by reducing redundancies, and centralizing back-office processes. These measures are streamlining operations, improving scalability, and positioning the business for sustainable long-term growth. Furthermore, we remain committed to exploring and pursing all avenues to drive shareholder value.”