InfuSystem sees sixth straight quarter of record revenues

ROCHESTER HILLS, Michigan – InfuSystem Holdings reported net revenues of $31.7 million for the second quarter, an increase of 17% compared to the prior year.  

Net revenue for Patient Services (formerly Integrated Therapy Services) was $19.3 million, an increase of 12% compared to the prior year, while net revenue for Device Solutions (formerly Durable Medical Equipment Services) was $12.4 million, an increase of 27%.  

“I am extremely pleased with the results of the second quarter, which reflect the sixth consecutive quarter with record revenues," said Richard DiIorio, CEO. "We continue to demonstrate positive momentum against our plan by delivering solid revenue growth of 17% for the second quarter. The strength of our core business coupled with the execution of our long-term growth strategy in biomedical services and wound care, drove double-digit growth for both Patient Services, with revenue up 12%, and Device Solutions, with revenue up 27%. Our current progress is a direct result of our team’s hard work and commitment to providing high-level service and solutions to our patients and providers.” 

The company reported gross profit of $16.4 million for the quarter and adjusted EBITDA of $5.8 million. 

InfuSystem also adjusted its outlook for the year. 

“Given our positive momentum, we now believe our current year revenue growth to exceed the top end of our previous range of 8% to 10%, and adjusted EBITDA margin to be between 17% and 18% for the year,” said Dilorio. “Our unwavering commitment to help people live healthier and longer lives provides the foundation to deliver meaningful growth and drive shareholder value for our loyal shareholders in the years to come.”