Viemed Healthcare (VMD) Investor presentation summary

Business overview and growth drivers

• National leader in home-based clinical care, serving over 183,000 patients in all 50 states with a capex-light model focused on complex respiratory, sleep, oxygen, airway clearance, and maternal health services.

• High-touch, tech-enabled care model reduces costs, increases patient satisfaction, and lowers rehospitalizations.

• Experienced management team with over 80 years of public company experience and more than 20% insider ownership.

• Market is massively underserved, with only 6% penetration among eligible COPD patients; company is the third largest provider in its segment.

• Regulatory tailwinds and stable reimbursement environment support long-term growth, with new coverage standards favoring scaled providers.

Service and operating model

• Proprietary clinical platform integrates best-in-class service and devices, with 24/7 respiratory therapist support and remote patient engagement.

• Lean operating model with no retail storefronts, mobile workforce, and data-driven market entry enables rapid expansion and higher margins.

• Product offerings include ventilation therapy, airway clearance, oxygen concentrators, PAP therapy, and maternal health products.

• Diversified revenue streams: ventilation, sleep, oxygen, airway clearance, maternal health, and staffing, with sleep and maternal health showing fastest growth.

• Real-world outcomes demonstrate significant reductions in mortality, hospitalizations, ER visits, and healthcare costs for patients using home-based therapies.

Financial performance and capital allocation

• 2025 net revenue grew 21% YoY to $270M, adjusted EBITDA up 20% to $61M, and diluted EPS up 32%; ninth consecutive year of positive net income.

• Q1 2026 net revenue up 28% YoY to $75.4M, adjusted EBITDA up 12% to $14.3M, with strong free cash flow and no net debt.

• 26% revenue CAGR since public listing, with gross margins moderating as service mix diversifies but EBITDA margins holding steady.

• 2026 guidance: net revenue $312M–$320M, adjusted EBITDA $65M–$69M, net capex 9–10.5% of revenue, and continued share repurchases.

• Capital allocation prioritizes organic growth, disciplined M&A, and shareholder returns, supported by strong cash flow and a pristine balance sheet.