Quipt Home Medical (QIPT) Q4 2025 earnings summary

Executive summary

• Achieved 11% year-over-year revenue growth in Q4 2025, with strong sequential organic growth of 5% from Q3 2025.

• Customer base expanded 10% year-over-year to 346,000 unique patients in fiscal 2025.

• Completed 917,000 unique set-ups/deliveries in fiscal 2025, up 7% from the prior year.

Financial highlights

• Q4 2025 revenue was $68.3M, up from $61.3M in Q4 2024; recurring revenue comprised 80% of total.

• Adjusted EBITDA for Q4 2025 was $14.9M (21.8% margin), up 11% year-over-year.

• Fiscal 2025 revenue was $245.4M, slightly down from $245.9M in 2024.

• Fiscal 2025 Adjusted EBITDA was $55.9M (22.8% margin), down 3% year-over-year.

• Net loss for Q4 2025 was ($3.6M), or ($0.08) per diluted share; fiscal 2025 net loss was ($10.7M), or ($0.24) per diluted share.

• Cash flow from operations reached $37.7M for fiscal 2025, up from $35.4M in 2024.

Outlook and guidance

• Management anticipates consistent organic growth, supported by a scalable platform and disciplined expense management.

• Improving referral activity and a stabilizing product mix are expected to drive future performance.