VIEMED HEALTHCARE, INC. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>VIEMED HEALTHCARE, INC. submitted its Q1 2024 10-Q filing detailing financial performance and operational data.</b>

AI Summary

VIEMED HEALTHCARE, INC. (VMD) filed a Quarterly Report (10-Q) with the SEC on May 6, 2024. VIEMED HEALTHCARE, INC. filed a 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of 2024, with data from January 1, 2024, to March 31, 2024. The company's principal business address is 625 E. KALISTE SALOOM RD., LAFAYETTE, LA 70508. The filing includes financial data for the periods ending March 31, 2024, December 31, 2023, and March 31, 2023. Key financial statement items such as common stock, additional paid-in capital, and retained earnings are detailed for various periods.

Why It Matters

For investors and stakeholders tracking VIEMED HEALTHCARE, INC., this filing contains several important signals. This 10-Q filing provides investors with the latest quarterly financial results and operational updates for VIEMED HEALTHCARE, INC., crucial for assessing the company's performance and outlook. The detailed financial information, including revenue segments and balance sheet items, allows stakeholders to analyze trends, profitability, and financial health over the reported periods.

Risk Assessment

Risk Level: low — VIEMED HEALTHCARE, INC. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain significant new risks or material adverse events beyond routine business disclosures.

Analyst Insight

Monitor VIEMED HEALTHCARE, INC.'s revenue trends across its service and equipment segments in subsequent filings to identify growth drivers and potential challenges.

Revenue Breakdown

Key Numbers

• 2024-03-31 — Report Period End Date (10-Q filing)
• 2024-01-01 — Quarter Start Date (10-Q filing)
• 2023-03-31 — Prior Year Quarter End Date (10-Q filing)
• 001-38973 — SEC File Number (10-Q filing)

Key Players & Entities

• VIEMED HEALTHCARE, INC. (company) — Filer name
• 625 E. KALISTE SALOOM RD. (address) — Business address
• LAFAYETTE (location) — Business address city
• LA (location) — Business address state
• 70508 (zip_code) — Business address zip
• Medicare (other) — Customer segment
• Medicaid (other) — Customer segment
• Solvet Services LLC (company) — Related entity

FAQ

Risk Factors

• Customer Concentration Risk [medium — financial]: Accounts receivable are subject to concentration risk related to Medicare, Medicaid, and Medicare and Medicaid customers.

Key Dates

• 2024-03-31: Quarter End Date — Reporting period for the 10-Q filing.

Filing Documents

• vmd-20240331.htm (10-Q) — 1019KB
• q12024exhibit311.htm (EX-31.1) — 10KB
• q12024exhibit312.htm (EX-31.2) — 10KB
• q12024exhibit321.htm (EX-32.1) — 4KB
• q12024exhibit322.htm (EX-32.2) — 4KB
• 0001729149-24-000102.txt (&nbsp;) — 5916KB
• vmd-20240331.xsd (EX-101.SCH) — 36KB
• vmd-20240331_cal.xml (EX-101.CAL) — 83KB
• vmd-20240331_def.xml (EX-101.DEF) — 196KB
• vmd-20240331_lab.xml (EX-101.LAB) — 584KB
• vmd-20240331_pre.xml (EX-101.PRE) — 410KB
• vmd-20240331_htm.xml (XML) — 689KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION 3

Financial Statements

Item 1. Financial Statements 3 Condensed Consolidated Balance Sheets 3 Condensed Consolidated Statements of Income and Comprehensive Income 4 Condensed Consolidated Statements of Changes in Shareholders' Equity 5 Condensed Consolidated Statements of Cash Flows 6 Notes to the Condensed Consolidated Financial Statements 7

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

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 25

Forward-Looking Statements

Forward-Looking Statements 25 General Matters 26 Overview 26 Trends Affecting Our Business 26 Results of Operations 28 Non-GAAP Financial Measures 31 Liquidity and Capital Resources 32 Accounting and Disclosure Matters 34

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 36

Controls and Procedures

Item 4. Controls and Procedures 36

- OTHER INFORMATION

PART II - OTHER INFORMATION 37

Legal Proceedings

Item 1. Legal Proceedings 37

Risk Factors

Item 1A. Risk Factors 37

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 37

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 37

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 37

Other Information

Item 5. Other Information 37

Exhibits

Item 6. Exhibits 38

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements VIEMED HEALTHCARE, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Expressed in thousands of U.S. Dollars, except outstanding shares) Note At March 31, 2024 At December 31, 2023 (Unaudited) (Audited) ASSETS Current assets Cash and cash equivalents 2 $ 7,309 $ 12,839 Accounts receivable, net 2 24,477 18,451 Inventory 2 4,349 4,628 Prepaid expenses and other assets 2,483 2,449 Total current assets $ 38,618 $ 38,367 Long-term assets Property and equipment, net 4 73,511 73,579 Finance lease right-of-use assets 297 401 Operating lease right-of-use assets 2,733 2,872 Equity investments 2 1,698 1,680 Debt investment 2 2,274 2,219 Deferred tax asset 10 4,558 4,558 Identifiable intangibles, net 534 567 Goodwill 3 29,765 29,765 Other long-term assets 9 887 887 Total long-term assets $ 116,257 $ 116,528 TOTAL ASSETS $ 154,875 $ 154,895 LIABILITIES Current liabilities Trade payables $ 5,800 $ 4,180 Deferred revenue 6,092 6,207 Income taxes payable 2,675 2,153 Accrued liabilities 5 14,057 17,578 Finance lease liabilities, current portion 199 256 Operating lease liabilities, current portion 6 698 678 Current portion of long-term debt 6 596 1,072 Total current liabilities $ 30,117 $ 32,124 Long-term liabilities Accrued liabilities 8 447 558 Finance lease liabilities, less current portion 95 132 Operating lease liabilities, less current portion 6 2,037 2,184 Long-term debt 5 5,906 6,002 Total long-term liabilities $ 8,485 $ 8,876 TOTAL LIABILITIES $ 38,602 $ 41,000 Commitments and Contingencies — — SHAREHOLDERS' EQUITY Common stock - No par value: unlimited authorized; 38,816,766 and 38,506,161 issued and outstanding as of March 31, 2024 and December 31, 2023, respectively 8 $ 21,842 $ 18,702 Additional paid-in capital 14,294 15,698 Retained earnings 80,137 79,495 TOTAL SHAREHOLDERS' EQUITY $ 116,273 $ 113,895 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 154,875 $ 154,895 See accompa

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