Quipt reports significant increases 

CINCINNATI – Quipt Home Medical has reported revenues of $58.1 million for the second quarter of fiscal year 2023, a 73% increase compared to the same period last year. It reported adjusted EBITDA of $13. 1million (22.5% of revenues) vs. $7 million (21% of revenues), representing an 86% increase year over year. “We are thrilled to announce robust financial results that have come in ahead of expectations for the second quarter of fiscal 2023 and are delighted to report that we continue to observe significant and continued momentum throughout the organization,” said CEO and Chairman Greg Crawford. “This past quarter has seen our supply chain return to normal, stronger organic growth, an increase in our Adjusted EBITDA margin, and the seamless integration of our largest acquisition, Great Elm, to date. We are extremely delighted that our team’s focus on operational excellence has produced such outstanding results and believe that our continued focus therein will yield increased margins as we move into the second half of 2023. Additionally, we have a strong acquisition pipeline and will continue to use our tried-and-true approach to integration and our focused acquisition strategy to execute on our long-term vision.” Quipt says its customer base has increased 76% year over year to 137,748 unique patients served in the second quarter of FY23 compared to 78,273 in the same period last year. It says it completed 198,101 unique setups/deliveries in the quarter, a 67% increase year over year. Quipt also announced that it has filed a prospectus supplement establishing a new At-the-Market (ATM) equity program, with Canaccord Genuity and Beacon Securities Limited acting as agents. The ATM will allow the company to offer for sale and issue up to $40 million common shares of the company from time to time, at its direction.