VIEMED HEALTHCARE ANNOUNCES SECOND QUARTER 2026 FINANCIAL RESULTS
Lafayette, Louisiana (August 3, 2026) Viemed Healthcare, Inc. (the “Company” or “Viemed”) (NASDAQ:VMD), a national provider of technology-enabled, home-based healthcare solutions and chronic disease management, announced today that it has reported its financial results for the three and six months ended June 30, 2026, and updated guidance for the full year ending December 31, 2026.
Operational highlights (all dollar amounts are USD):
•Net revenues for the quarter ended June 30, 2026 were $78.1 million, setting a Company record, representing an increase of $15.0 million, or 23.9%, compared with the prior-year quarter and an increase of approximately 3.6% sequentially.
•Net income attributable to Viemed for the quarter ended June 30, 2026 totaled $2.8 million, or $0.07 per diluted share.
•Adjusted EBITDA for the quarter ended June 30, 2026 totaled $13.7 million, a 4.0% decrease as compared to the quarter ended June 30, 2025. The prior year period included a $1.0 million non-recurring gain on disposal of property and equipment related to the ventilator return program, which benefited net income and concluded during 2025.
•Net cash provided by operating activities totaled $15.9 million for the quarter and $60.8 million for the trailing twelve months ended June 30, 2026. Free cash flow totaled $8.6 million for the quarter and $34.4 million for the trailing twelve months ended June 30, 2026.
•During the second quarter of 2026, the Company repurchased and cancelled 530,802 common shares under its share repurchase program at a cost of $5.1 million (excluding taxes), representing an average buyback price of $9.65 per share.
•The Company ended the second quarter of 2026 with a record 12,635 ventilator patients, an increase of 4.0% over June 30, 2025, and a 4.5% sequential increase from March 31, 2026.
•The Company increased its PAP therapy patient count to 37,825 as of June 30, 2026, an increase of 44.0% over June 30, 2025, and a 5.3% sequential increase from March 31, 2026. The Company's sleep resupply patient count was 37,035 as of June 30, 2026, up 46.7% year over year and 10.0% sequentially.
•As of June 30, 2026, the Company maintained a cash balance of $10.7 million and an overall working capital balance of $6.1 million. The Company repaid $2.2 million of its term loan during the quarter ended June 30, 2026. Long-term debt totaled $6.4 million and the Company has $46 million available under existing credit facilities.
Updated Full Year 2026 Guidance (all dollar amounts are USD):
Based on first-half performance and favorable operating trends across ventilation and the broader platform, the Company is raising the low end and narrowing the range of its full-year net revenue guidance. The Company is also revising its Adjusted EBITDA guidance and net capital expenditure outlook. The revised guidance reflects the growing contribution from less capital-intensive product and service revenue.
•Net revenue is now expected to be in the range of $314 million to $320 million, compared with the previous range of $312 million to $320 million.
•Adjusted EBITDA is now expected to range from $64 million to $68 million, compared with the previous range of $65 million to $69 million.
•Net capital expenditures are now expected to range from 8.5% to 10.0% of net revenue, compared with the previous range of 9.0% to 10.5%.
See “Use of Non-GAAP Financial Information and Financial Guidance” below for further information about non-GAAP financial measures and non-GAAP financial guidance.
Casey Hoyt, Viemed’s CEO, noted, “Viemed delivered another record quarter, with revenue reaching $78.1 million and our ventilator patient census rising to the highest level in company history. Strong ventilator setup activity, improving patient compliance, record PAP volume, and continued expansion in resupply and maternal health demonstrate the momentum building across our entire platform.”
“The strength of these results reflects the durable and increasingly diversified company we have built. Viemed has multiple growth engines, strong cash generation, a solid balance sheet, and the financial flexibility to continue investing in our people, technology, and patient care capabilities. We are making those investments deliberately to support the patient growth already entering the platform, and we enter the second half of 2026 confident in Viemed's ability to deliver consistent and increasingly predictable growth.”
Conference Call Details
The Company will host a conference call to discuss second quarter results on Tuesday, August 4, 2026, at 11:00 a.m. ET.
Interested parties may participate in the call by dialing:
877-407-6176 (US Toll-Free)
+1 201-689-8451 (International)
Live Audio Webcast: https://event.choruscall.com/mediaframe/webcast.html?webcastid=peVp8cbE
Following the conclusion of the call, an audio recording and transcript of the call can be accessed on the Company's website.
ABOUT VIEMED HEALTHCARE, INC.
Viemed is a provider of home medical equipment and post-acute healthcare services in the United States, with a focus on respiratory, chronic care, and women’s health products and services. Viemed’s model emphasizes efficient, high-quality care delivered in the home through a combination of high-touch clinical support and technology-enabled services, including therapy, education, and counseling provided by our clinical practitioners. For more information, visit our website at www.viemed.com.
For further information, please contact:
Investor Relations
ir@viemed.com
Trae Fitzgerald
Chief Financial Officer
337-504-3802
Forward-Looking Statements
Certain statements contained in this press release may constitute “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 or “forward-looking information” as such term is defined in applicable Canadian securities legislation (collectively, “forward-looking statements”). Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “potential”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, “believes”, “projects”, or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results “will”, “should”, “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” or the negative of these terms or comparable terminology. All statements other than statements of historical fact, including those that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance, including the Company's 2026 net revenue, Adjusted EBITDA and net capital expenditure guidance, anticipated patient and revenue growth, expected operating leverage, technology and personnel investments, capital allocation priorities, share repurchases and future cash generation, are not historical facts and may be forward-looking statements and may involve estimates, assumptions and uncertainties that could cause actual results or outcomes to differ materially from those expressed in the forward-looking statements. Such statements reflect the Company's current views and intentions with respect to future events, and current information available to the Company, and are subject to certain risks, uncertainties and assumptions. Many factors could cause the actual results, performance or achievements that may be expressed or implied by such forward-looking statements to vary from those described herein should one or more of these risks or uncertainties materialize. These factors include, without limitation: the general business, market and economic conditions in the regions in which we operate; significant capital requirements and operating risks that we may be subject to; our ability to implement business strategies and pursue business opportunities; volatility in the market price of our common shares; the state of the capital markets; the availability of funds and resources to pursue operations; inflation; reductions in reimbursement rates and audits of reimbursement claims by various governmental and private payor entities; dependence on few payors; possible new drug discoveries; dependence on key suppliers; changes in U.S. trade policies and retaliatory responses from other countries, including tariffs; granting of permits and licenses in a highly regulated business; competition; disruptions in or attacks (including cyber-attacks) on our information technology, internet, network access or other voice or data communications systems or services; the evolution of various types of fraud or other criminal behavior to which we are exposed; difficulty integrating newly acquired businesses; the impact of new and changes to, or application of, current laws and regulations; the overall difficult litigation and regulatory environment; increased competition; increased funding costs and market volatility due to market illiquidity and competition for funding; critical accounting estimates and changes to accounting standards, policies, and methods used by us; the occurrence of natural and unnatural catastrophic events or health epidemics or concerns, and claims resulting from such events or concerns; the use of artificial intelligence technologies; as well as other general economic, market and business conditions; and other factors beyond our control; as well as those risk factors discussed or referred to in the Company’s disclosure documents filed with the U.S. Securities and Exchange Commission (the “SEC”) available on the SEC’s website at www.sec.gov, including the Company’s most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q, and with the securities regulatory authorities in certain provinces of Canada available at www.sedarplus.ca. Should any factor affect the Company in an unexpected manner, or should assumptions underlying the forward-looking statements prove incorrect, the actual results or events may differ materially from the results or events predicted. Any such forward-looking statements are expressly qualified in their entirety by this cautionary statement. Moreover, the Company does not assume responsibility for the accuracy or completeness of such forward-looking statements. The forward-looking statements included in this press release are made as of the date of this press release and the Company undertakes no obligation to publicly update or revise any forward-looking statements, other than as required by applicable law.
Use of Non-GAAP Financial Information and Financial Guidance
This press release includes references to financial measures that are calculated and presented using methodologies other than those in accordance with generally accepted accounting principles in the United States (“GAAP”), including Adjusted EBITDA and free cash flow. Any non-GAAP financial measures presented herein are intended to supplement, and not to be considered superior to or as a substitute for, the Company’s consolidated financial statements prepared in accordance with GAAP. These non-GAAP financial measures exclude significant expense and income items required by GAAP, and are subject to inherent limitations, including the exercise of judgment by management regarding which items to exclude or include. Non-GAAP measures presented herein may not be comparable to similarly titled measures presented by other companies. The reconciliations of these non-GAAP measures to the most directly comparable GAAP measures are included in the tables accompanying this release.
This press release contains non-GAAP financial guidance. There is no reliable or reasonably estimable comparable GAAP measure for the Company’s non-GAAP financial guidance because the Company is not able to reliably predict the impact of certain items that typically have one or more of the following characteristics: highly variable, difficult to project, unusual in nature, significant to the results of a particular period or not indicative of future operating results. Similar charges or gains were recognized in prior periods and will likely reoccur in future periods. As a result, reconciliation of the non-GAAP financial guidance to the most directly comparable GAAP measure is not available without unreasonable effort. In addition, the Company believes such a reconciliation would imply a degree of precision and certainty that could be confusing to investors. The variability of the specified items may have a significant and unpredictable impact on the Company’s future GAAP results. The Company’s financial guidance in this press release excludes the impact of potential future strategic acquisitions and any items that have not yet been identified or quantified. This guidance is subject to risks and uncertainties inherent in all forward-looking statements, as outlined above.
VIEMED HEALTHCARE, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(Expressed in thousands of U.S. Dollars, except share amounts)
(Unaudited)
At June 30, 2026
At December 31, 2025
ASSETS
Current assets
Cash and cash equivalents
$
10,680
$
13,501
Accounts receivable, net
32,229
25,586
Inventory
5,268
5,047
Income tax receivable
—
227
Prepaid expenses and other assets
5,788
4,132
Total current assets
$
53,965
$
48,493
Long-term assets
Property and equipment, net
77,159
78,775
Operating lease right-of-use assets
4,531
3,580
Equity investments
3,184
2,794
Deferred tax asset
5,289
5,289
Identifiable intangibles, net
1,158
1,285
Goodwill
58,938
58,938
Total long-term assets
$
150,259
$
150,661
TOTAL ASSETS
$
204,224
$
199,154
LIABILITIES
Current liabilities
Trade payables
$
10,986
$
7,333
Deferred revenue
8,003
7,520
Income taxes payable
1,830
—
Accrued liabilities
24,941
23,910
Operating lease liabilities, current portion
1,416
1,203
Current portion of long-term debt
717
1,090
Total current liabilities
$
47,893
$
41,056
Long-term liabilities
Accrued liabilities
900
922
Operating lease liabilities, less current portion
3,093
2,364
Long-term debt
6,374
11,291
Total long-term liabilities
$
10,367
$
14,577
TOTAL LIABILITIES
$
58,260
$
55,633
Commitments and Contingencies
—
—
SHAREHOLDERS' EQUITY
Common stock - No par value: unlimited authorized; 38,088,228 and 38,019,082 issued and outstanding as of June 30, 2026 and December 31, 2025, respectively
17,981
16,912
Additional paid-in capital
17,810
21,742
Retained earnings
108,237
102,891
TOTAL VIEMED HEALTHCARE, INC.'S SHAREHOLDERS' EQUITY
$
144,028
$
141,545
Noncontrolling interest in subsidiary
1,936
1,976
TOTAL SHAREHOLDERS' EQUITY
145,964
143,521
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY
$
204,224
$
199,154
VIEMED HEALTHCARE, INC.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(Expressed in thousands of U.S. Dollars, except outstanding shares and per share amounts)
(Unaudited)
Three Months Ended June 30,
Six Months Ended June 30,
2026
2025
2026
2025
Revenue
$
78,097
$
63,056
$
153,511
$
122,185
Cost of revenue
33,049
26,325
65,636
52,175
Gross profit
$
45,048
$
36,731
$
87,875
$
70,010
Operating expenses
Selling, general and administrative
37,132
28,803
71,924
57,228
Research and development
504
847
1,083
1,644
Stock-based compensation
2,032
2,341
4,483
4,652
Depreciation and amortization
388
353
776
701
Loss (gain) on disposal of property and equipment
598
(636)
954
(3,004)
Other income, net
(67)
(72)
(102)
(147)
Income from operations
$
4,461
$
5,095
$
8,757
$
8,936
Non-operating income and expenses
Loss from investments
162
—
162
—
Interest expense, net
248
132
553
311
Net income before taxes
4,051
4,963
8,042
8,625
Provision for income taxes
1,151
1,713
2,429
2,665
Net income
$
2,900
$
3,250
$
5,613
$
5,960
Net income attributable to noncontrolling interest
136
93
267
178
Net income attributable to Viemed Healthcare, Inc.
$
2,764
$
3,157
$
5,346
$
5,782
Net income per share
Basic
$
0.07
$
0.08
$
0.14
$
0.15
Diluted
$
0.07
$
0.08
$
0.13
$
0.14
Weighted average number of common shares outstanding:
Basic
38,245,491
39,515,247
38,336,534
39,471,244
Diluted
41,125,716
41,083,760
40,851,506
41,393,523
VIEMED HEALTHCARE, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Expressed in thousands of U.S. Dollars)
(Unaudited)
Six Months Ended June 30,
2026
2025
Cash flows from operating activities
Net income
$
5,613
$
5,960
Adjustments for:
Depreciation and amortization
15,141
13,504
Stock-based compensation expense
4,483
4,652
Loss (gain) on disposal of property and equipment
954
(3,004)
Amortization of deferred financing costs
132
64
Deferred income tax benefit
—
(1,961)
Loss from other investments
162
—
Changes in working capital:
Accounts receivable, net
(6,643)
(1,638)
Inventory
(221)
(4)
Prepaid expenses and other assets
(1,665)
(150)
Trade payables
2,072
1,598
Deferred revenue
483
499
Accrued liabilities
1,405
(1,979)
Income tax payable/receivable
2,057
(2,433)
Net cash provided by operating activities
$
23,973
$
15,108
Cash flows from investing activities
Purchase of property and equipment
(15,172)
(23,612)
Investment in equity investments
(552)
—
Proceeds from sale of property and equipment
2,401
13,355
Net cash used in investing activities
$
(13,323)
$
(10,257)
Cash flows from financing activities
Proceeds from exercise of options
1,057
1,368
Principal payments on term notes
(5,422)
(220)
Shares redeemed to pay income tax
(2,038)
(1,631)
Payments for share repurchase programs
(6,761)
(1,664)
Repayments of finance lease liabilities
—
(35)
Distributions to non-controlling interest
(307)
(193)
Net cash used in financing activities
$
(13,471)
$
(2,375)
Net increase (decrease) in cash and cash equivalents
(2,821)
2,476
Cash and cash equivalents at beginning of year
13,501
17,540
Cash and cash equivalents at end of period
$
10,680
$
20,016
Supplemental disclosures of cash flow information
Cash paid during the period for interest
$
390
$
212
Cash paid during the period for income taxes, net of refunds
$
373
$
7,059
Supplemental disclosures of non-cash transactions
Equipment and other fixed asset purchases payable at end of period
$
4,802
$
3,955
Equipment sales receivable at end of period
$
—
$
986
Repurchases of shares not yet settled
$
—
$
169
Reconciliation from GAAP Net Income to Non-GAAP Adjusted EBITDA
This press release refers to “Adjusted EBITDA”, which is a financial measure that is not prepared in accordance with generally accepted accounting principles in the United States ("GAAP"). Adjusted EBITDA should be considered in addition to, not as a substitute for, or superior to, financial measures calculated in accordance with GAAP. Management believes Adjusted EBITDA provides helpful information with respect to the Company’s operating performance as viewed by management, including a view of the Company’s business that is not dependent on the impact of the Company’s capitalization structure and items that are not part of the Company’s day-to-day operations. Management uses Adjusted EBITDA (i) to compare the Company’s operating performance on a consistent basis, (ii) to calculate incentive compensation for the Company’s employees, (iii) for planning purposes, including the preparation of the Company’s internal annual operating budget, and (iv) to evaluate the performance and effectiveness of the Company’s operational strategies. Accordingly, management believes that Adjusted EBITDA provides useful information in understanding and evaluating the Company’s operating performance in the same manner as management. Adjusted EBITDA is not a measurement of the Company’s financial performance under GAAP and should not be considered as an alternative to revenue or net income, as applicable, or any other performance measures derived in accordance with GAAP. Adjusted EBITDA has limitations as an analytical tool and you should not consider it in isolation or as a substitute for analysis of the Company’s operating results as reported under GAAP. Adjusted EBITDA does not reflect the impact of certain cash charges resulting from matters the Company considers not to be indicative of ongoing operations; and other companies in the Company’s industry may calculate Adjusted EBITDA differently than we do, limiting its usefulness as a comparative measure. In calculating Adjusted EBITDA, certain items (mostly non-cash) are excluded from net income attributable to Viemed Healthcare, Inc., including depreciation and amortization of capitalized assets, net interest expense, stock based compensation, transaction costs, impairment of assets, and taxes.
The following unaudited table is a reconciliation of net income attributable to Viemed Healthcare, Inc., the most directly comparable GAAP measure, to Adjusted EBITDA, on a historical basis for the periods indicated:
(Expressed in thousands of U.S. Dollars)
For the quarter ended
June 30, 2026
March 31, 2026
December 31, 2025
September 30, 2025
June 30, 2025
March 31, 2025
December 31, 2024
September 30, 2024
Net income attributable to Viemed Healthcare, Inc.
$
2,764
$
2,582
$
5,639
$
3,513
$
3,157
$
2,625
$
4,316
$
3,878
Add back:
Depreciation & amortization
7,520
7,621
7,570
7,539
6,891
6,613
6,366
6,408
Interest expense, net
248
305
364
507
132
179
147
225
Stock-based compensation(a)
2,032
2,451
2,300
2,180
2,341
2,311
1,521
1,712
Transaction costs(b)
—
74
139
847
53
85
11
12
Impairment of assets(c)
—
—
—
—
—
—
—
125
Income tax expense
1,151
1,278
2,191
1,535
1,713
952
1,881
1,594
Adjusted EBITDA
$
13,715
$
14,311
$
18,203
$
16,121
$
14,287
$
12,765
$
14,242
$
13,954
(a) Represents non-cash, equity-based compensation expense associated with option and RSU awards.
(b) Represents transaction costs and expenses related to acquisition and integration efforts associated with recently announced or completed acquisitions.
(c) Represents impairments of the fair value of investment and litigation-related assets.
Reconciliation from GAAP Net Cash Provided by Operating Activities to Non-GAAP Free Cash Flow
This press release refers to “free cash flow” which is a non-GAAP financial measure that does not have a standardized meaning prescribed by GAAP. Free cash flow is defined as net cash provided by operating activities less net capital expenditures (“Net CAPEX”). Net CAPEX is calculated as purchases of property and equipment minus proceeds from the sale of property and equipment. The Company's presentation of this financial measure may not be comparable to similarly titled measures used by other companies.
The Company presents free cash flow for the current quarter and trailing twelve months (TTM) as a supplemental liquidity measure. Management believes free cash flow provides investors with useful insight into the Company’s ability to generate cash, fund growth initiatives, and return capital to shareholders.
The following table is a reconciliation of net cash provided by operating activities, the most directly comparable GAAP measure, to free cash flow, on a historical basis for the periods indicated:
(Expressed in thousands of U.S. Dollars; unaudited)