Revenue Beat and Raised 2026 Guidance
Q4 2025 revenue of $74.9 million beat the top end of guidance; 2026 revenue guidance increased to $290M–$310M (up $10M from prior guide), implying 15%–23% growth over 2025 base revenues.
Improved Adjusted EBITDA Outlook
Company narrowed expected 2026 adjusted EBITDA loss to $5M–$10M from prior $15M–$25M (improvement of $10M–$15M) and expects adjusted EBITDA profitability in the back half of 2026.
SteadyMD Strong Performance and Integration Upside
SteadyMD exceeded $8M in quarterly revenue (company recorded $6.1M in Q4 after Oct 20 acquisition); full-year interactions rose to >4 million (from ~2.5M in 2024); SteadyMD gross margin improved ~30% to 37%; SteadyMD contribution forecast in $25M–$30M range with upside.
Record Remote Patient Monitoring Results
Remote patient monitoring generated record Q4 revenue of $4.0M and $830k adjusted EBITDA; patients monitored increased 16% YoY; margins described as north of 50% with continued profitability improvement expected in 2026.
Strong Operational Volume Growth Across Key Metrics
Q4 vs Q4: medical transportation trips +11%, healthcare-in-the-home visits +113%, mobile phlebotomy +16%, remote patients monitored +16%, telehealth and lab orders +50%; care gap assigned lives rose 12% sequential to >1.45M; NPS of 92 (as of March 1).
Transport Segment Margin and Staffing Progress
Medical transportation adjusted gross margin improved to 32.8% in 2025 (from 30.1% in 2024); filled 206 of 546 open EMT/paramedic roles (improving hiring), overtime trending down from ~13% toward sub-10% target which should lift margins.
Efficiency Innovation Portfolio
Launched >12 projects targeting operating leverage; expected savings ~$5M–$6M in 2026 and ~$20M–$24M in 2027 via automation and process improvements (pre-billing automation, AgenTeq patient outreach integration).
Strategic Process Initiated
Company initiated a formal process to explore strategic alternatives to maximize shareholder value (investment bank engaged), providing a potential path to unlock value.