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Viemed Healthcare
Viemed Healthcare (VMD) investor relations material
Viemed Healthcare Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary5 Mar, 2026
Executive summary
Achieved record revenue and Adjusted EBITDA in 2025, with significant free cash flow growth and successful business diversification, notably in sleep and maternal health, supported by organic growth and the Lehan's Medical Equipment acquisition.
Net income attributable to shareholders rose 31% in Q4 and 33% for the year, marking nine consecutive years of positive net income.
Built a scalable, cash-generating home care platform with multiple growth engines and a high-touch clinical model.
Free cash flow and operating cash flow saw significant year-over-year increases, enhancing financial flexibility.
Entering 2026 from a position of strength, with strong early signals and a positive long-term outlook.
Financial highlights
Q4 2025 revenue was $76.2M, up 26% year-over-year; full-year revenue reached $270.3M, up 21%.
Adjusted EBITDA for 2025 was $61.4M (22.7% margin), a record high; Q4 Adjusted EBITDA was $18.2M.
Gross profit for 2025 was $155.5M, with gross margin just under 58%.
Free cash flow for 2025 was $28.1M, more than doubling from $11.6M in 2024; Q4 free cash flow was $10.8M.
Ended 2025 with $13.5M in cash, $46M in available credit, and $11.3M in long-term debt, resulting in effectively no net debt.
Outlook and guidance
2026 net revenue guidance: $310M–$320M, representing ~17% year-over-year growth at the midpoint.
2026 Adjusted EBITDA guidance: $65M–$69M; EBITDA growth to trail revenue due to non-recurring 2025 items.
Net capital expenditures projected at 10%–11.5% of net revenue.
Expect uneven quarterly cadence, with Q1 flat or slightly down, then sequential growth of 3–5% per quarter for the rest of 2026.
Guidance excludes potential future acquisitions and assumes no material change in margin profile.
How do acquisitions factor into 2026 revenue guidance?
What drives differing growth rates across patient segments?
Rationale for 2026 share repurchase program
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Next Viemed Healthcare earnings date
Sidoti March Small-Cap Virtual Conference19 Mar, 2026
Viemed Healthcare
Next Viemed Healthcare earnings date
Sidoti March Small-Cap Virtual Conference19 Mar, 2026
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Frequently asked questions
Viemed Healthcare Inc provides home-based healthcare services focused on respiratory care, including non-invasive ventilation and oxygen therapy. The company supports patients with chronic obstructive pulmonary disease and other respiratory conditions across the United States. It also offers sleep apnea and telehealth services. The company is headquartered in Lafayette, Louisiana, and its shares are listed on the NASDAQ.
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