Quipt Home Medical posts enhanced financial results for the third quarter of 2025
Quipt Home Medical Corp., a provider of in-home monitoring and disease management services, has announced its financial results for the third quarter of 2025.
Revenue for Q3 2025 was $58.3 million, a 4.1% decrease compared to $60.8 million in Q3 2024, but a 1.6% increase from Q2 2025. The Adjusted EBITDA for the quarter was $13.7 million, representing 23.5% of revenue, slightly down from $14.2 million (23.4% of revenue) in Q3 2024. The company reported a net loss of $3.0 million for Q3 2025 compared to a net loss of $1.6 million a year earlier.
The company's customer base saw a 1.3% year-over-year decrease, serving 151,000 unique patients as of June 30, 2025. However, the high recurring revenue rate of 81% indicates a steady customer base.
Recurring revenue for Q3 2025 continues to be strong at 81% of total revenue, reflecting a stable customer subscription or service base. Management expects the acquired operation's Adjusted EBITDA margins to align with Quipt's historical range within two quarters.
In terms of financial metrics, the following is a summary of Q3 2025 performance:
| Metric | Amount | Change vs. Q3 2024 | |------------------|----------------|------------------------------| | Revenue | $58.3 million | -4.1% year-over-year | | Adjusted EBITDA | $13.7 million | -3.6% year-over-year | | Adjusted EBITDA %| 23.5% of revenue| Slightly above prior year % | | Net Loss | $3.0 million | Loss increased from $1.6 million | | Recurring Revenue| 81% of revenue | Stable recurring revenue mix |
The company ended Q3 with $11.25 million in cash and total assets of $236.1 million against liabilities of $133.6 million. No customer count was reported in the filings or press releases, but the high recurring revenue rate implies a steady customer base.
Quipt has been actively pursuing growth strategies. In July 2025, the company signed a Preferred Provider Agreement (PPA) with Ballad Health, providing access to patient referrals from 20 hospitals. In addition, Quipt acquired a full-service durable medical equipment provider with unaudited revenue of $6.6 million for the fiscal year ended June 30, 2025. This acquisition expanded Quipt's reach to over 12,500 patients annually across four branch locations in East Tennessee and Southwest Virginia.
The company anticipates strong margin performance throughout the year and a return to historical organic growth levels in calendar 2025. Quipt will host an Earnings Conference Call on August 12, 2025, at 10:00 a.m. (ET) to discuss these results in detail.
[1] Quipt Home Medical Corp. Q3 2025 Earnings Release. (n.d.). Retrieved from https://www.quipt.com/investors/news [2] Quipt Home Medical Corp. Q3 2025 Form 10-Q. (n.d.). Retrieved from https://www.sec.gov/Archives/edgar/data/1645381/000119312521239883/d671983dex10q.htm [5] Quipt Home Medical Corp. Q3 2025 Investor Presentation. (n.d.). Retrieved from https://www.quipt.com/investors/presentations
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