Quipt Home Medical Corp. (NASDAQ:QIPT) Q1 2023 Earnings Conference Call February 14, 2023 10:01 AM ET
Company Participants
Greg Crawford – Chairman and Chief Executive Officer
Hardik Mehta – Chief Financial Officer
Conference Call Participants
Doug Cooper – Beacon Securities
Rahul Sarugaser – Raymond James
Tania Armstrong-Whitworth – Canaccord Genuity
Justin Keywood – Stifel
Stefan Quenneville – Echelon Capital Markets
Operator
Thank you for standing by. This is the conference operator. Welcome to the Fiscal First Quarter 2023 Results Conference Call for Quipt Home Medical Corp. [Operator Instructions] And the conference is being recorded. [Operator Instructions]
We remind you that the remarks today will include forward-looking statements that are subject to important risks and uncertainties. For more information on these risks and uncertainties, please see the reader advisory at the bottom of the company's results news release. The company's actual performance could differ materially from these statements.
At this point, I'd like to turn the call over to Chairman and Chief Executive Officer, Greg Crawford.
Greg Crawford
Thank you, operator. And thank you all for joining us today on the call. My name is Greg Crawford, and I'm the Chairman and Chief Executive Officer of Quipt Home Medical. Joining me today is Hardik Mehta, our Chief Financial Officer.
With the closure of our largest acquisition today, Quipt is off to a historically strong start in calendar 2023. We believe solidifying ourselves as the fifth largest provider of home medical equipment focused on end-to-end respiratory care in the United States from a revenue standpoint.
As of fiscal Q2, Quipt currently has a $220 million run rate revenue and a $49 million run rate adjusted EBITDA, giving us a significant growth platform to continue driving economies of scale. The driving force behind our continued success is the more than 1000 Quipt team members who dedicate their daily work to providing superior patient care in order to improve the quality of life for each and every patient we serve.
Our team is the real reason why the momentum continues to be robust throughout the business and we are able to successfully operate a patient-centric ecosystem. We are devoted to offering equipment solutions geared towards cardio and pulmonary disease states, all of which are minimizing the load that is being placed on the conventional healthcare system.
In 2022, we improved the quality of life of over 200,000 patients, and in 2023 we will start with over 270,000 patient lives. Our primary goal is to make patient lives outside of the hospitals better by making it easier for them to breathe and sleep, which is ultimately result in higher life satisfaction.