Quipt reports 13% increase in setups 

CINCINNATI – Quipt Home Medical completed approximately 854,000 unique setups/deliveries in fiscal year 2024, an increase of 13%. 

This includes approximately 480,000 respiratory resupply setups/deliveries for fiscal year 2024, compared to approximately 396,000 for fiscal year 2023, an increase of 21%. 

“Our results for fiscal 2024 reflect the resilience of our business and the scalability of our operating model,” said Greg Crawford, chairman and CEO. “Despite facing unique challenges this year, we delivered record revenue, positive year-over-year organic growth and maintained a strong adjusted EBITDA margin. This performance underscores the strength of our diversified product offering, go-to-market strategy and the adaptability of our team.” 

Other company highlights: 

• Recurring revenue for fiscal year 2024 was strong and was approximately 78% of total revenue, driven by the growth in the company’s re-supply platform. 
• Customer base increased 4% year over year to approximately 153,000 unique patients served in Q4 2024 from approximately 147,000 unique patients in Q4 2023. 

Financial highlights include: 

• Revenue of $245.9 million for fiscal year 2024, an increase of 16.2% over fiscal year 2023. 
• Revenue for the fourth quarter was $61.3 million compared to $59.6 million for the same quarter in 2023, representing a 3% increase. 
• Adjusted EBITDA for fiscal year 2024 was $57.9 million, a14.3% increase, and adjusted EBITDA for the fourth quarter was $13.4 million, an 8.8% decrease. 
• Net income (loss) for fiscal year 2024 was ($6.8 million).