Consistent Top-Line and Profit Growth
Revenue of $18.6M, up 18.4% year-over-year; 14th consecutive quarter of year-over-year revenue and profit growth. Net income $3.0M, up 58.8%, and diluted EPS $0.35, up 67% versus prior year.
Strong Operating Leverage and Margins
Operating income increased to $3.8M, a 76% increase year-over-year, representing 20.3% of net revenues. Gross profit rose to $14.6M and gross margin expanded to 78.8% from 78.0% (≈ +0.8 percentage points).
Robust Home Care Performance
Direct Home Care revenue of $16.7M (up ~18.6% YoY). Annualized home care revenue per weighted average direct sales representative was $1.168M, exceeding target range of $1.0M–$1.1M.
High Growth in Hospital Channel
Hospital revenue grew 42.5% year-over-year to $1.0M, rebounding after a slower prior quarter and showing diversification across channels.
Solid Balance Sheet and Cash Generation
Cash balance of $17.0M, no debt, working capital of $40M and shareholders' equity of $49.2M. Positive operating cash flow of $6.7M for the nine months ended March 31, 2026; cash increased $1.7M over the prior-year nine-month period.
Commercial and Operational Execution (ePrescribe & Manufacturing)
Smart Order ePrescribe processed over 40% of orders in Q3 and delivered a 5-day reduction in average days-to-ship versus fax orders. Manufacturing optimization plan completed; products assembled in the U.S.; 99% of net revenues generated in the U.S.
Large Addressable Market and Effective Awareness Programs
Company highlighted ~923,000 diagnosed bronchiectasis patients in the U.S. with only 16% receiving HFCWO therapy (large upside). Digital campaign: >2M impressions and >65,000 visits to educational pages. Clinical outreach included 4 regional conferences, 3 national conferences and 4 webinars attended by ~375 clinicians; manuscript showed 58% of qualifying patients not prescribed HFCWO, underscoring market opportunity.