Quipt: Structural improvements starting to pay off 

CINCINNATI – Quipt Home Medical reported revenue of $58.3 million for the third quarter, a 4.1% decrease compared to the same period last year. It reported revenue of $177 million for the nine months ended June 30, also a 4.1% decrease. 

Other financial results: 

• Adjusted EBITDA for Q3 2025 was $13.7 million (23.5% of revenue) compared to $14.2 million (23.4% of revenue) for Q3 2024, representing a 3.6% decrease. 
• Adjusted EBITDA of $41 million (23.2% of revenue) for the nine months ended June 30, 2025, compared to $44.4 million (24.1% of revenue) for the nine months ended June 30, 2024, a decrease of 7.7%. 
• Net income (loss) for Q3 2025 was ($3.0) million, or ($0.07) per diluted share, compared to ($1.6) million, or ($0.04) per diluted share, for Q3 2024. 

“Our third quarter results reflect important progress, as we returned to positive organic growth and achieved clear revenue stabilization across the overall business,” said Greg Crawford, CEO and chairman of Quipt. “These results highlight the dedication of our team and the structural improvements we’ve made over the past several quarters, which position us for sustainable long-term growth.” 

Quipt says its customer base decreased 1.3% year over year, serving 151,000 unique patients as of June 30, 2025, compared to 153,000 unique patients as of June 30, 2024. This compares to 146,000 in Q2 2025, reflecting a positive quarter-over-quarter growth of 3.4%. 

Other operational highlights: 

• Completed 210,000 unique set-ups/deliveries in Q3 2025, a 2.8% decrease from 216,000 set-ups/deliveries in Q3 2024. This compares to 203,000 in Q2 2025, reflecting a positive quarter-over-quarter growth of 3.5%. 
• Respiratory resupply set-ups/deliveries were 119,000 in Q3 2025, compared to 120,000 in Q3 2024. This compares to 111,000 in Q2 2025, reflecting a positive quarter-over-quarter growth of 7.2%. 

Quipt also highlighted its acquisition of a full-service durable medical equipment (DME) provider wholly-owned by Ballad Health, a major integrated health system serving the Appalachian Highlands region. The provider, which reported unaudited revenue of $6.6 million for the fiscal year ended June 30, expands Quipt’s reach to more than 12,500 patients annually across four branch locations in East Tennessee and Southwest Virginia.