InfuSystem Holdings Q2 2024 10-Q Filing

TL;DR

InfuSystem Holdings filed its Q2 2024 10-Q. Financials are in.

AI Summary

InfuSystem Holdings, Inc. reported its Q2 2024 results for the period ending June 30, 2024. The company's financial statements reflect its operations and financial position during this period, with comparative data from previous fiscal years. Key financial figures and balance sheet items are presented for analysis.

Why It Matters

This filing provides investors with the latest financial performance and position of InfuSystem Holdings, Inc., crucial for understanding the company's health and making informed investment decisions.

Risk Assessment

Risk Level: medium — 10-Q filings are standard disclosures, but the specific financial details within can reveal underlying risks or strengths.

Key Numbers

• 2024-06-30 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial information is reported.)
• 2024-08-09 — Filing Date (The date the 10-Q report was officially submitted to the SEC.)
• 2023-12-31 — Previous Fiscal Year End (Provides a point of comparison for the current reporting period.)

Key Players & Entities

• InfuSystem Holdings, Inc. (company) — Filer of the 10-Q
• 20240630 (date) — End of the reporting period
• 20240809 (date) — Filing date
• 0001337013 (company) — Central Index Key for InfuSystem Holdings, Inc.

FAQ

Key Financial Figures

• $0.0001 — ich Registered Common Stock, par value $0.0001 per share INFU NYSE American LLC Indi

Filing Documents

• infu-20240630.htm (10-Q) — 1363KB
• infu-20240630xexx311.htm (EX-31.1) — 8KB
• infu-20240630xexx312.htm (EX-31.2) — 8KB
• infu-20240630xexx321.htm (EX-32.1) — 4KB
• infu-20240630xexx322.htm (EX-32.2) — 4KB
• infu-20240630_g1.jpg (GRAPHIC) — 760KB
• 0001628280-24-036502.txt ( ) — 10140KB
• infu-20240630.xsd (EX-101.SCH) — 52KB
• infu-20240630_cal.xml (EX-101.CAL) — 97KB
• infu-20240630_def.xml (EX-101.DEF) — 216KB
• infu-20240630_lab.xml (EX-101.LAB) — 635KB
• infu-20240630_pre.xml (EX-101.PRE) — 447KB
• infu-20240630_htm.xml (XML) — 1647KB

Financial Statements

Financial Statements 3 -Unaudited Condensed Consolidated Balance Sheets as of June 30, 2024 and December 31, 2023 3 -Unaudited Condensed Consolidated Statements of Operations and Comprehensive Income ( Loss ) for the three and six months ended June 30, 2024 and 2023 4 -Unaudited Condensed Consolidated Statements of Stockholders' Equity for the three and six months ended June 30, 2024 and 2023 5 -Unaudited Condensed Consolidated Statements of Cash Flows for the six months ended June 30, 2024 and 2023 6 -Notes to the Unaudited Condensed Consolidated Financial Statements 6 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 23 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 33 Item 4.

Controls and Procedures

Controls and Procedures 34 PART II - OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 35 Item 1A.

Risk Factors

Risk Factors 36 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 36 Item 3. Defaults Upon Senior Securities 36 Item 4. Mine Safety Disclosures 36 Item 5. Other Information 36 Item 6. Exhibits 37

Signatures

Signatures 38 2 Table of Contents

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements INFUSYSTEM HOLDINGS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) As of ( in thousands, except par value and share data ) June 30, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 146 $ 231 Accounts receivable, net 21,325 19,830 Inventories, net 6,839 6,402 Other current assets 4,603 4,157 Total current assets 32,913 30,620 Medical equipment for sale or rental 6,980 3,049 Medical equipment in rental service, net of accumulated depreciation 36,262 34,928 Property & equipment, net of accumulated depreciation 4,174 4,321 Goodwill 3,710 3,710 Intangible assets, net 6,951 7,446 Operating lease right of use assets 5,845 6,703 Deferred income taxes 8,644 9,115 Derivative financial instruments 1,714 1,442 Other assets 1,334 1,581 Total assets $ 108,527 $ 102,915 LIABILITIES AND STOCKHOLDERS ' EQUITY Current liabilities: Accounts payable $ 9,940 $ 8,009 Other current liabilities 5,940 7,704 Total current liabilities 15,880 15,713 Long-term debt, net of current portion 34,165 29,101 Operating lease liabilities, net of current portion 4,995 5,799 Total liabilities 55,040 50,613 Stockholders' equity: Preferred stock, $ 0.0001 par value: authorized 1,000,000 shares; none issued — — Common stock, $ 0.0001 par value: authorized 200,000,000 shares; 21,315,046 shares issued and outstanding as of June 30, 2024 and 21,196,851 shares issued and outstanding as of December 31, 2023 2 2 Additional paid-in capital 111,493 109,837 Accumulated other comprehensive income 1,295 1,088 Retained deficit ( 59,303 ) ( 58,625 ) Total stockholders' equity 53,487 52,302 Total liabilities and stockholders' equity $ 108,527 $ 102,915 See accompanying notes to unaudited condensed consolidated financial statements. 3 Table of Contents INFUSYSTEM HOLDINGS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (UNAUDI

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