Reiteration of Outlook for Calendar End 2022 (Fiscal Year Q1 2023):
Based on the current operations, market trends and completed and prospective acquisitions, the Company is reiterating its outlook for its annual run-rate revenue by the end of calendar 2022 (Fiscal Q1 2023) to be $180-$190 million with $38-$43 million in Adjusted EBITDA.
Management Commentary :
“The record results experienced in the fourth quarter and fiscal year 2021 are a direct result of the significant expansion of our patient centric ecosystem into favorable geographies, through organic and inorganic activities across the United States. Our robust interconnected operating platform we have built, and dedicated integration team drives our ability to transform lower margin business units we acquire into higher margin businesses that more closely align with our overall margin profile. It is consistent and steady integration efforts that will allow us to maintain over 20% margins for calendar 2022 amid an aggressive acquisition pace,” said CEO and Chairman Greg Crawford. “There is no question that Quipt is in the strongest position in the history of the Company, with a distinct industry position as a leader in at home clinical respiratory care, now serving 170,000 active patients across fifteen states. Tailwinds driven by a favorable regulatory landscape, continued heightened demand for respiratory products and services, bullish demographic trends, as well as ongoing execution displayed across the organization, we see 2022 as another record year. We have the financial resources and operating expertise to leverage the scalable service intensive model we have, and we expect to be extremely active on the acquisition front throughout 2022, focused on the growing need for at home clinical respiratory care.”