Record Revenue Growth
Viemed Healthcare reported a 20% year-over-year increase in revenue for Q4 2024 and a 23% increase for the full year of 2024, setting records for both the quarter and the year.
Strong Vent Business Performance
The vent business accounted for 55% of Q4 revenue and 56% for the year, with a 4.4% sequential increase in Q4 and a total of 1,500 net vent adds in 2024, nearly 50% more than in 2023.
Significant Growth in Sleep Business
The sleep business saw a nearly 10% sequential increase in patients, leading to a 43% increase in 2024 compared to 2023, contributing 17% to Q4 revenues.
Positive EBITDA Growth
Adjusted EBITDA grew 11% for the quarter to $14.2 million and 19% for the full year, driven by strong organic growth and contributions from each of the company's business segments.
Strong Cash Position
Viemed reported a free cash flow of $11.6 million in 2024, with a strong balance sheet featuring $55 million available on credit facilities and $17.5 million in cash on hand.