Quipt Home Medical Corp.
2.4000-0.20 (-7.69%)
Oct 29, 4:00:01 PM EDT · NasdaqCM · QIPT · USD
Key Stats
Market Cap
104.40MP/E (TTM)
-Basic EPS (TTM)
-0.24Dividend Yield
0%Recent Filings
8-K
Rejects undervalued takeover bid
Quipt Home Medical confirmed receipt of another unsolicited, non-binding proposal from Forager Capital Management on August 27, 2025, to acquire all shares at US$3.10 each—down 26% from their January 2025 offer of US$3.90. The board rejected it as undervaluing the company, especially after recent acquisitions adding $66.6 million in unaudited revenue and $7 million in Adjusted EBITDA, plus revenue stabilization. Forager's refusal to engage via advisor Truist and securities filing lapses undermine its credibility. Board stays committed to long-term value.
8-K
Joint venture adds $60M revenue
Quipt Home Medical inked a deal on August 11, 2025, to snag 60% of Hart Medical Equipment for $17-18 million, forming a joint venture with major health systems like Henry Ford and McLaren that adds $60 million in revenue and 29 locations across Michigan and Ohio. This Midwest push embeds Quipt deeper into hospital discharge processes, serving 67,000 patients monthly while leveraging Hart's $7 million Adjusted EBITDA. Integration could align margins with Quipt's averages in three quarters. Yet financing hinges on lender approval.
8-K
Q3 results stabilize; Ballad acquisition expands
Quipt Home Medical reported Q3 fiscal 2025 revenue of $58.3 million, down 4.1% year-over-year but up 1.6% sequentially on organic growth, with Adjusted EBITDA steady at $13.7 million or 23.5% of revenue. Recurring revenue held firm at 81% of total. Post-quarter, it acquired a Ballad Health-owned DME provider with $6.6 million annual revenue, expanding to 12,500 patients across four locations and securing a Preferred Provider Agreement for hospital referrals. This bolsters geographic reach while keeping leverage at 1.5x. Integration eyes margin alignment in two quarters.
10-Q
Q3 FY2025 results
Quipt Home Medical's Q3 FY2025 revenue dipped 4.1% y/y to $58.3M, pressured by the Medicare 75/25 rate cut and Change Healthcare cyber incident, yet gross margin improved to 74.5% from vendor negotiations. Operating loss widened to $1.8M from a slim $0.1M profit, driven by higher stock-based compensation at $2.1M, while net loss grew to $3.0M or $0.07 per diluted share on 43.5M shares. Cash from operations hit $27.9M YTD, down slightly from $25.4M but supporting $9.6M in equipment buys; free cash flow stood at $17.3M after $10.5M capex. Debt eased to $66.0M under a compliant $110M facility with $14.3M revolver room, bolstered by $11.3M cash. Post-quarter, Quipt closed a $2.6M cash acquisition of Mediserve in Tennessee and Virginia. Adjusted EBITDA, reconciled in the 10-Q, fell 3.6% to $13.7M. Activist shareholder distractions linger as a key risk.
8-K
Acquires $6.6M revenue DME provider
Quipt Home Medical acquired a Ballad Health-owned durable medical equipment provider on July 7, 2025, for $1.6 million plus accounts receivable and inventory values, adding $6.6 million in unaudited annual revenue from serving over 12,500 patients across four branches in East Tennessee and Southwest Virginia. This deal pairs with a preferred provider agreement covering Ballad's 20 hospitals in four states, boosting post-acute referrals and embedding Quipt deeper into health systems. Management eyes Adjusted EBITDA margins aligning with historical levels within two quarters via efficiencies. It sets a scalable partnership template, yet integration risks loom.
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