Viemed Healthcare, Inc. (the “Company” or “Viemed”) (NASDAQ:VMD and
TSX: VMD.TO), a home medical equipment supplier and the nation’s
largest independent provider of ventilation that provides
post-acute respiratory care services, today reported its financial
results for the three months and year ended December 31, 2021.
Operational highlights (all dollar
amounts are USD):
- Net revenues attributable to the
Company's core business for the quarter ended December 31, 2021
were $29.0 million, a new Company record and an increase of
11% over the quarter ended December 31, 2020. Net revenues
attributable to the Company's core business for the quarter ended
December 31, 2021 were up approximately 4% over the quarter ended
September 30, 2021. Total net revenues for the current quarter were
$32.0 million and included $3.0 million of net revenues
for contact and vaccine tracing services and product sales related
to the COVID-19 pandemic. Net revenues for the year ended December
31, 2021 were $117.1 million for the Company, including
$8.6 million of COVID-19 related sales and services.
- Net income for the quarter ended
December 31, 2021 totaled approximately $4.1 million, compared to
$5.1 million for the quarter ended December 31, 2020. Net
income for the year ended December 31, 2021 totaled approximately
$9.1 million, compared to $31.5 million for the year ended
December 31, 2020. In the prior year, net income included an income
tax benefit of $5.2 million and $34.4 million of COVID-19 response
sales and services during the height of the COVID-19 pandemic.
- Adjusted EBITDA for the quarter
ended December 31, 2021 totaled approximately $9.5 million.
Adjusted EBITDA for the year ended December 31, 2021 totaled
approximately $29.3 million. A reconciliation of reported non-GAAP
financial measures to their most directly comparable U.S. GAAP
financial measures can be found in the tables accompanying this
press release.
- The Company had a cash balance of
$28.4 million at December 31, 2021 ($31.0 million at December 31,
2020) and an overall working capital balance of $29.5 million
($24.2 million at December 31, 2020). Total long-term debt as of
December 31, 2021 was $4.3 million.
- The Company expects to generate net
revenues attributable to its core business of approximately $29.2
million to $30.2 million during the first quarter of 2022. In
addition to its core business, the Company is continuing to pursue
additional revenues related to the COVID-19 pandemic and estimates
first quarter 2022 revenues of approximately $1.4 million to $1.8
million related to the COVID-19 pandemic. Total revenues for the
first quarter of 2022 are estimated to be approximately $30.6
million to $32.0 million.
“We believe organic growth trends are emerging
during the periods following COVID surges," said Casey Hoyt,
Viemed's CEO. "Following the Delta variant surge during the third
quarter, our sales and clinical teams returned to the field in the
fourth quarter eager to serve the strong demand in the market. As a
result, we finished the quarter with record setting core revenues
and active patient count. As we look forward to the upcoming year,
we are excited to meet this demand with the innovative service
offerings, which we invested in during the pandemic.”
Conference Call Details
The Company will host a conference call to
discuss fourth quarter results on Tuesday, March 8, 2022 at 11:00
a.m. ET.
Interested parties may participate in the call by dialing:
877-407-6176 (US Toll-Free)201-689-8451 (International)
Live Audio Webcast:
https://themediaframe.com/mediaframe/webcast.html?webcastid=lPj8NrhP
Following the conclusion of the call, an audio
recording and transcript of the call can be accessed on the
Company's website.
ABOUT VIEMED HEALTHCARE, INC.
Viemed is a provider of in-home medical
equipment and post-acute respiratory healthcare services in the
United States. Viemed’s service offerings are focused on effective
in-home treatment with clinical practitioners providing therapy and
counseling to patients in their homes using cutting edge
technology. Visit our website at www.viemed.com.
For further information, please contact:
Glen AkselrodBristol Capital905-326-1888glen@bristolir.com
Todd ZehnderChief Operating OfficerViemed Healthcare,
Inc.337-504-3802investorinfo@viemed.com
Forward-Looking Statements
Certain statements contained in this press
release may constitute “forward-looking statements” within the
meaning of the U.S. Private Securities Litigation Reform Act of
1995 or “forward-looking information” as such term is defined in
applicable Canadian securities legislation (collectively,
“forward-looking statements”). Often, but not always,
forward-looking statements can be identified by the use of words
such as “plans”, “expects”, “is expected”, “budget”, “potential”,
“scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”,
“believes”, or “projects”, or the negatives thereof or variations
of such words and phrases or statements that certain actions,
events or results “will”, “should”, “may”, “could”, “would”,
“might” or “will be taken”, “occur” or “be achieved” or the
negative of these terms or comparable terminology. All statements
other than statements of historical fact, including those that
express, or involve discussions as to, expectations, beliefs,
plans, objectives, assumptions or future events or performance,
including the Company's net revenue guidance for the first quarter,
are not historical facts and may be forward-looking statements and
may involve estimates, assumptions and uncertainties that could
cause actual results or outcomes to differ materially from those
expressed in the forward-looking statements. Such statements
reflect the Company's current views and intentions with respect to
future events, and current information available to the Company,
and are subject to certain risks, uncertainties and assumptions.
Many factors could cause the actual results, performance or
achievements that may be expressed or implied by such
forward-looking statements to vary from those described herein
should one or more of these risks or uncertainties materialize.
These factors include, without limitation: the general business,
market and economic conditions in the regions in which the Company
operates; the impact of the COVID-19 pandemic and the actions taken
by governmental authorities, individuals and companies in response
to the pandemic on our business, financial condition and results of
operations, including on the Company's patient base, revenues,
employees, and equipment and supplies; significant capital
requirements and operating risks that the Company may be subject
to; the ability of the Company to implement business strategies and
pursue business opportunities; volatility in the market price of
the Company's common shares; the Company’s novel business model;
the risk that the clinical application of treatments that
demonstrate positive results in a study may not be positively
replicated or that such test results may not be predictive of
actual treatment results or may not result in the adoption of such
treatments by providers; the state of the capital markets; the
availability of funds and resources to pursue operations;
reductions in reimbursement rates and audits of reimbursement
claims by various governmental and private payor entities;
dependence on few payors; possible new drug discoveries; dependence
on key suppliers and the recall of certain Royal Philips BiPAP and
CPAP devices and ventilators that we distribute and sell; granting
of permits and licenses in a highly regulated business;
competition; low profit market segments; disruptions in or attacks
(including cyber-attacks) on the Company's information technology,
internet, network access or other voice or data communications
systems or services; the evolution of various types of fraud or
other criminal behavior to which the Company is exposed; the
failure of third parties to comply with their obligations;
difficulty integrating newly acquired businesses; the impact of new
and changes to, or application of, current laws and regulations;
the overall difficult litigation and regulatory environment;
increased competition; changes in foreign currency rates; increased
funding costs and market volatility due to market illiquidity and
competition for funding; critical accounting estimates and changes
to accounting standards, policies, and methods used by the Company;
the Company’s status as an emerging growth company and a smaller
reporting company; and the occurrence of natural and unnatural
catastrophic events or health epidemics or concerns, such as the
COVID-19 pandemic, and claims resulting from such events or
concerns; as well as those risk factors discussed or referred to in
the Company’s disclosure documents filed with the U.S. Securities
and Exchange Commission (the “SEC”) available on the SEC’s website
at www.sec.gov, including the Company’s most recent Annual Report
on Form 10-K, and with the securities regulatory authorities in
certain provinces of Canada available at www.sedar.com. Should any
factor affect the Company in an unexpected manner, or should
assumptions underlying the forward-looking statements prove
incorrect, the actual results or events may differ materially from
the results or events predicted. Any such forward-looking
statements are expressly qualified in their entirety by this
cautionary statement. Moreover, the Company does not assume
responsibility for the accuracy or completeness of such
forward-looking statements. The forward-looking statements included
in this press release are made as of the date of this press release
and the Company undertakes no obligation to publicly update or
revise any forward-looking statements, other than as required by
applicable law.
VIEMED HEALTHCARE,
INC.CONSOLIDATED BALANCE
SHEETS(Expressed in thousands of U.S. Dollars,
except share amounts)
|
|
AtDecember 31, 2021 |
|
AtDecember 31, 2020 |
ASSETS |
|
|
|
|
Current
assets |
|
|
|
|
Cash and cash equivalents |
|
$ |
28,408 |
|
|
$ |
30,981 |
|
Accounts receivable, net of allowance for doubtful accounts of
$7,031 and $9,013 at December 31, 2021 and December 31, 2020,
respectively |
|
|
12,823 |
|
|
|
12,373 |
|
Inventory, net of inventory reserve of $1,418 and $1,353 at
December 31, 2021 and December 31, 2020, respectively |
|
|
2,457 |
|
|
|
2,310 |
|
Income tax receivable |
|
|
1,893 |
|
|
|
— |
|
Prepaid expenses and other assets |
|
|
1,729 |
|
|
|
1,511 |
|
Total current
assets |
|
$ |
47,310 |
|
|
$ |
47,175 |
|
Long-term
assets |
|
|
|
|
Property and equipment, net |
|
|
62,846 |
|
|
|
55,056 |
|
Equity investments |
|
|
2,157 |
|
|
|
733 |
|
Deferred tax asset |
|
|
4,787 |
|
|
|
8,733 |
|
Other long-term assets |
|
|
862 |
|
|
|
863 |
|
Total long-term
assets |
|
|
70,652 |
|
|
|
65,385 |
|
TOTAL
ASSETS |
|
$ |
117,962 |
|
|
$ |
112,560 |
|
|
|
|
|
|
LIABILITIES |
|
|
|
|
Current
liabilities |
|
|
|
|
Trade payables |
|
$ |
3,239 |
|
|
$ |
2,096 |
|
Deferred revenue |
|
|
3,753 |
|
|
|
3,409 |
|
Income taxes payable |
|
|
— |
|
|
|
340 |
|
Accrued liabilities |
|
|
8,875 |
|
|
|
12,595 |
|
Current portion of lease liabilities |
|
|
464 |
|
|
|
2,741 |
|
Current portion of long-term debt |
|
|
1,480 |
|
|
|
1,836 |
|
Total current
liabilities |
|
$ |
17,811 |
|
|
$ |
23,017 |
|
Long-term
liabilities |
|
|
|
|
Accrued liabilities |
|
|
757 |
|
|
|
1,292 |
|
Long-term lease liabilities |
|
|
268 |
|
|
|
762 |
|
Long-term debt |
|
|
4,306 |
|
|
|
5,796 |
|
Total long-term
liabilities |
|
$ |
5,331 |
|
|
$ |
7,850 |
|
TOTAL
LIABILITIES |
|
$ |
23,142 |
|
|
$ |
30,867 |
|
|
|
|
|
|
Commitments and
Contingencies |
|
|
— |
|
|
|
— |
|
|
|
|
|
|
SHAREHOLDERS'
EQUITY |
|
|
|
|
Common stock - No par value: unlimited authorized; 39,640,388 and
39,185,182 issued and outstanding as of December 31, 2021 and
December 31, 2020, respectively |
|
|
14,014 |
|
|
|
9,181 |
|
Additional paid-in capital |
|
|
7,749 |
|
|
|
7,320 |
|
Accumulated other comprehensive loss |
|
|
(278 |
) |
|
|
(451 |
) |
Retained earnings |
|
|
73,335 |
|
|
|
65,643 |
|
TOTAL SHAREHOLDERS'
EQUITY |
|
$ |
94,820 |
|
|
$ |
81,693 |
|
TOTAL LIABILITIES AND
SHAREHOLDERS' EQUITY |
|
$ |
117,962 |
|
|
$ |
112,560 |
|
VIEMED HEALTHCARE,
INC.CONSOLIDATED STATEMENTS OF INCOME AND
COMPREHENSIVE INCOME(Expressed in thousands of
U.S. Dollars, except outstanding shares and per share
amounts)
|
Three Months EndedDecember 31, |
|
Year EndedDecember 31, |
|
|
2021 |
|
|
|
2020 |
|
|
|
2021 |
|
|
|
2020 |
|
Revenue |
$ |
31,962 |
|
|
$ |
31,202 |
|
|
$ |
117,062 |
|
|
$ |
131,309 |
|
|
|
|
|
|
|
|
|
Cost of revenue |
|
12,300 |
|
|
|
12,024 |
|
|
|
43,652 |
|
|
|
51,198 |
|
|
|
|
|
|
|
|
|
Gross
profit |
$ |
19,662 |
|
|
$ |
19,178 |
|
|
$ |
73,410 |
|
|
$ |
80,111 |
|
|
|
|
|
|
|
|
|
Operating
expenses |
|
|
|
|
|
|
|
Selling, general and administrative |
|
14,240 |
|
|
|
12,274 |
|
|
|
54,893 |
|
|
|
52,829 |
|
Research and development |
|
612 |
|
|
|
395 |
|
|
|
2,110 |
|
|
|
1,083 |
|
Stock-based compensation |
|
1,305 |
|
|
|
1,301 |
|
|
|
5,150 |
|
|
|
4,882 |
|
Depreciation |
|
233 |
|
|
|
204 |
|
|
|
851 |
|
|
|
816 |
|
Loss (gain) on disposal of property and equipment |
|
144 |
|
|
|
96 |
|
|
|
448 |
|
|
|
(2,328 |
) |
Other expense (income) |
|
(1,537 |
) |
|
|
(359 |
) |
|
|
(1,622 |
) |
|
|
(3,952 |
) |
Income from
operations |
$ |
4,665 |
|
|
$ |
5,267 |
|
|
$ |
11,580 |
|
|
$ |
26,781 |
|
|
|
|
|
|
|
|
|
Non-operating income
and expenses |
|
|
|
|
|
|
|
Income from equity method investments |
|
(459 |
) |
|
|
(55 |
) |
|
|
(1,241 |
) |
|
|
(91 |
) |
Interest expense, net of interest income |
|
69 |
|
|
|
100 |
|
|
|
318 |
|
|
|
509 |
|
|
|
|
|
|
|
|
|
Net income before
taxes |
|
5,055 |
|
|
|
5,222 |
|
|
|
12,503 |
|
|
|
26,363 |
|
Provision (benefit) for income taxes |
|
968 |
|
|
|
151 |
|
|
|
3,377 |
|
|
|
(5,167 |
) |
|
|
|
|
|
|
|
|
Net
income |
$ |
4,087 |
|
|
$ |
5,071 |
|
|
$ |
9,126 |
|
|
$ |
31,530 |
|
|
|
|
|
|
|
|
|
Other comprehensive
income (loss) |
|
|
|
|
|
|
|
Change in unrealized gain/loss on derivative instruments, net of
tax |
|
52 |
|
|
|
27 |
|
|
|
173 |
|
|
|
(294 |
) |
Other comprehensive
income (loss) |
$ |
52 |
|
|
$ |
27 |
|
|
$ |
173 |
|
|
$ |
(294 |
) |
|
|
|
|
|
|
|
|
Comprehensive
income |
$ |
4,139 |
|
|
$ |
5,098 |
|
|
$ |
9,299 |
|
|
$ |
31,236 |
|
|
|
|
|
|
|
|
|
Net income per
share |
|
|
|
|
|
|
|
Basic |
$ |
0.10 |
|
|
$ |
0.13 |
|
|
$ |
0.23 |
|
|
$ |
0.81 |
|
Diluted |
$ |
0.10 |
|
|
$ |
0.12 |
|
|
$ |
0.22 |
|
|
$ |
0.78 |
|
|
|
|
|
|
|
|
|
Weighted average
number of common shares outstanding: |
|
|
|
|
|
|
|
Basic |
|
39,636,606 |
|
|
|
39,161,215 |
|
|
|
39,491,117 |
|
|
|
38,743,516 |
|
Diluted |
|
40,529,206 |
|
|
|
41,043,419 |
|
|
|
40,680,947 |
|
|
|
40,525,737 |
|
VIEMED HEALTHCARE,
INC.CONSOLIDATED STATEMENTS OF CASH
FLOWS(Expressed in thousands of U.S.
Dollars)
|
|
Year Ended December 31, |
|
|
|
2021 |
|
|
|
2020 |
|
Cash flows from
operating activities |
|
|
|
|
Net income |
|
$ |
9,126 |
|
|
$ |
31,530 |
|
Adjustments for: |
|
|
|
|
Depreciation |
|
|
11,312 |
|
|
|
9,582 |
|
Change in allowance for doubtful accounts |
|
|
6,895 |
|
|
|
9,116 |
|
Change in inventory reserve |
|
|
65 |
|
|
|
1,353 |
|
Share-based compensation |
|
|
5,150 |
|
|
|
4,882 |
|
Distributions of earnings received from equity method
investments |
|
|
416 |
|
|
|
— |
|
Income from equity method investments |
|
|
(1,241 |
) |
|
|
(91 |
) |
Loss (gain) on disposal of property and equipment |
|
|
448 |
|
|
|
(2,328 |
) |
Deferred income tax expense (benefit) |
|
|
3,884 |
|
|
|
(8,733 |
) |
Net change in working
capital |
|
|
|
|
Increase in accounts receivable |
|
|
(7,345 |
) |
|
|
(9,955 |
) |
Increase in inventory |
|
|
(212 |
) |
|
|
(2,303 |
) |
Increase in prepaid expenses and other assets |
|
|
(226 |
) |
|
|
(812 |
) |
Increase in trade payables |
|
|
133 |
|
|
|
213 |
|
Increase in deferred revenue |
|
|
344 |
|
|
|
94 |
|
(Decrease) increase in accrued liabilities |
|
|
(4,022 |
) |
|
|
2,308 |
|
Change in income tax payable/receivable |
|
|
(2,233 |
) |
|
|
254 |
|
Net cash provided by
operating activities |
|
$ |
22,494 |
|
|
$ |
35,110 |
|
|
|
|
|
|
Cash flows from
investing activities |
|
|
|
|
Purchase of property and equipment |
|
|
(19,743 |
) |
|
|
(13,044 |
) |
Investment in equity investments |
|
|
(599 |
) |
|
|
(629 |
) |
Proceeds from sale of property and equipment |
|
|
596 |
|
|
|
5,258 |
|
Net cash used in
investing activities |
|
$ |
(19,746 |
) |
|
$ |
(8,415 |
) |
|
|
|
|
|
Cash flows from
financing activities |
|
|
|
|
Proceeds from exercise of options |
|
|
112 |
|
|
|
1,876 |
|
Principal payments on notes payable |
|
|
(152 |
) |
|
|
(142 |
) |
Principal payments on term note |
|
|
(1,683 |
) |
|
|
(1,605 |
) |
Shares redeemed to pay income tax |
|
|
(1,434 |
) |
|
|
— |
|
Repayments of lease liabilities |
|
|
(2,164 |
) |
|
|
(9,198 |
) |
Net cash used in
financing activities |
|
$ |
(5,321 |
) |
|
$ |
(9,069 |
) |
|
|
|
|
|
Net (decrease)
increase in cash and cash equivalents |
|
|
(2,573 |
) |
|
|
17,626 |
|
Cash and cash
equivalents at beginning of year |
|
|
30,981 |
|
|
|
13,355 |
|
Cash and cash
equivalents at end of period |
|
$ |
28,408 |
|
|
$ |
30,981 |
|
|
|
|
|
|
Supplemental
disclosures of cash flow information |
|
|
|
|
Cash paid during the period for interest |
|
$ |
351 |
|
|
$ |
559 |
|
Cash paid during the period for income taxes, net of refunds
received |
|
$ |
1,768 |
|
|
$ |
3,311 |
|
Supplemental
disclosures of non-cash transactions |
|
|
|
|
Net non-cash changes to finance leases balances |
|
$ |
48 |
|
|
$ |
3,002 |
|
Net non-cash changes to operating lease balances |
|
$ |
712 |
|
|
$ |
57 |
|
Non-GAAP Financial Measures
This press release refers to “Adjusted EBITDA”
which is a non-GAAP financial measure that does not have a
standardized meaning prescribed by U.S. GAAP. The Company's
presentation of this financial measure may not be comparable to
similarly titled measures used by other companies. Adjusted EBITDA
is defined as net income (loss) before interest expense, income tax
expense (benefit), depreciation, and stock-based compensation.
Management believes Adjusted EBITDA provides helpful information
with respect to the Company’s operating performance as viewed by
management, including a view of the Company’s business that is not
dependent on the impact of the Company’s capitalization structure
and items that are not part of the Company’s day-to-day operations.
Management uses Adjusted EBITDA (i) to compare the Company’s
operating performance on a consistent basis, (ii) to calculate
incentive compensation for the Company’s employees, (iii) for
planning purposes, including the preparation of the Company’s
internal annual operating budget, and (iv) to evaluate the
performance and effectiveness of the Company’s operational
strategies. Accordingly, management believes that Adjusted EBITDA
provides useful information in understanding and evaluating the
Company’s operating performance in the same manner as management.
The following table is a reconciliation of net income (loss), the
most directly comparable U.S. GAAP measure, to Adjusted EBITDA, on
a historical basis for the periods indicated:
VIEMED HEALTHCARE,
INC.Reconciliation of Net Income to Non-GAAP
Adjusted EBITDA(Expressed in thousands of U.S.
Dollars)(Unaudited)
For the quarter ended |
December 31,2021 |
September 30,2021 |
June 30,2021 |
March 31,2021 |
December 31,2020 |
September 30,2020 |
June 30,2020 |
March 31,2020 |
Net Income |
$ |
4,087 |
$ |
1,789 |
$ |
1,566 |
$ |
1,684 |
|
$ |
5,071 |
$ |
2,804 |
$ |
19,412 |
|
$ |
4,243 |
Add back: |
|
|
|
|
|
|
|
|
Depreciation |
|
3,120 |
|
2,867 |
|
2,716 |
|
2,609 |
|
|
2,835 |
|
2,425 |
|
2,190 |
|
|
2,130 |
Interest expense |
|
69 |
|
75 |
|
83 |
|
91 |
|
|
100 |
|
116 |
|
135 |
|
|
158 |
Stock-based compensation |
|
1,305 |
|
1,302 |
|
1,236 |
|
1,307 |
|
|
1,301 |
|
1,234 |
|
1,196 |
|
|
1,151 |
Income tax expense (benefit) |
|
968 |
|
1,386 |
|
1,246 |
|
(223 |
) |
|
151 |
|
1,141 |
|
(6,646 |
) |
|
187 |
Adjusted EBITDA |
$ |
9,549 |
$ |
7,419 |
$ |
6,847 |
$ |
5,468 |
|
$ |
9,458 |
$ |
7,720 |
$ |
16,287 |
|
$ |
7,869 |
|
|
Year EndedDecember 31, 2021 |
Net Income |
|
$ |
9,126 |
Add back: |
|
|
Depreciation |
|
|
11,312 |
Interest expense |
|
|
318 |
Stock-based compensation |
|
|
5,150 |
Income tax expense (benefit) |
|
|
3,377 |
Adjusted EBITDA |
|
$ |
29,283 |
Use of Non-GAAP Financial Measures
Adjusted EBITDA should be considered in addition
to, not as a substitute for, or superior to, financial measures
calculated in accordance with U.S. GAAP. It is not a measurement of
the Company’s financial performance under U.S. GAAP and should not
be considered as an alternative to revenue or net income, as
applicable, or any other performance measures derived in accordance
with U.S. GAAP and may not be comparable to other similarly titled
measures of other businesses. Adjusted EBITDA has limitations as an
analytical tool and you should not consider it in isolation or as a
substitute for analysis of the Company’s operating results as
reported under U.S. GAAP. Adjusted EBITDA does not reflect the
impact of certain cash charges resulting from matters the Company
considers not to be indicative of ongoing operations; and other
companies in the Company’s industry may calculate Adjusted EBITDA
differently than we do, limiting its usefulness as a comparative
measure.
VIEMED HEALTHCARE,
INC.Key Financial and Operational
Information(Expressed in thousands of U.S.
Dollars, except vent
patients)(Unaudited)
For the quarter ended |
December 31,2021 |
September 30,2021 |
June 30,2021 |
March 31,2021 |
December 31,2020 |
September 30,2020 |
June 30,2020 |
March 31,2020 |
Financial
Information: |
|
|
|
|
|
|
|
Revenue |
$ |
31,962 |
|
$ |
29,285 |
|
$ |
27,399 |
|
$ |
28,416 |
|
$ |
31,202 |
|
$ |
33,447 |
|
$ |
42,854 |
|
$ |
23,806 |
|
Gross Profit |
|
19,662 |
|
|
18,381 |
|
|
17,625 |
|
|
17,742 |
|
|
19,178 |
|
|
19,453 |
|
|
25,927 |
|
|
15,553 |
|
Gross Profit % |
|
62 |
% |
|
63 |
% |
|
64 |
% |
|
62 |
% |
|
61 |
% |
|
58 |
% |
|
61 |
% |
|
65 |
% |
Net Income |
|
4,087 |
|
|
1,789 |
|
|
1,566 |
|
|
1,684 |
|
|
5,071 |
|
|
2,804 |
|
|
19,412 |
|
|
4,243 |
|
Cash and Cash Equivalents (As
of) |
|
28,408 |
|
|
26,867 |
|
|
31,151 |
|
|
31,097 |
|
|
30,981 |
|
|
32,396 |
|
|
29,707 |
|
|
8,409 |
|
Total Assets (As of) |
|
117,962 |
|
|
115,486 |
|
|
111,014 |
|
|
113,001 |
|
|
112,560 |
|
|
113,969 |
|
|
112,178 |
|
|
86,801 |
|
Adjusted EBITDA(1) |
|
9,549 |
|
|
7,419 |
|
|
6,847 |
|
|
5,468 |
|
|
9,458 |
|
|
7,720 |
|
|
16,287 |
|
|
7,869 |
|
Operational Information: |
|
|
|
|
|
|
|
Vent Patients(2) |
|
8,405 |
|
|
8,200 |
|
|
8,103 |
|
|
7,733 |
|
|
7,892 |
|
|
7,788 |
|
|
7,705 |
|
|
7,965 |
|
(1)Refer to "Non-GAAP Financial Measures"
section above for definition of Adjusted EBITDA.
(2)Vent Patients represents the number of active
ventilator patients on recurring billing service at the end of each
calendar quarter.
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