Viemed Reports Record Revenue

LAFAYETTE, Louisiana—Viemed Healthcare, Inc., which provides respiratory care and technology-enabled home medical equipment services, reported its financial results for the fourth quarter (Q4) and full year of 2024 on March 11, 2025. 

Viemed CEO Casey Hoyt said the report, which included record revenues and significant growth in the number of people using its ventilators, PAP therapy and sleep resupply, indicates that the company has a track record “of strong organic growth and profitability.” 

“The sequential improvement in our operational metrics throughout 2024 reinforces the momentum we have established with hard-won improvements in our sales force and diversification of the business,” Hoyt said in the earnings release. “Likewise, the continued demand for our high-touch, technology-enabled clinical approach in a regulatory environment that stresses efficiency, home care, transparency, and compliance gives us greater confidence in our value proposition.”

Highlights include: 

• Net revenues for the quarter ended December 31, 2024, reached a new company record of $60.7 million, representing an increase of $10.0 million, or 20%, over net revenues reported for the comparable quarter ended December 31, 2023. Total net revenues for the year ended December 31, 2024 were a record-breaking $224.3 million, an increase of $41.2 million, or 23%, over the year ended December 31, 2023.
• Net income attributable to Viemed for Q4 totaled $4.3 million, or $0.10 per diluted share, an increase of 24% over net income attributable to Viemed reported for the same quarter of 2023. Net income for the year totaled $11.3 million, or $0.28 per diluted share, an increase of 10% over 2023, marking the company’s eighth consecutive year of positive net income.
• Viemed increased its ventilator patient count 14% over the end of 2023 to 11,795. 
• The company increased its PAP therapy patient count 43% over 2023 to 21,338. The Company also increased its sleep resupply patient count 29% over 2023 to 24,478. 
• Adjusted earnings before income, taxes, depreciation and amortization (EBITDA) for the quarter and year totaled $14.2 million and a record $51.1 million, respectively. 

Viemed said it continues to generate substantial excess free cash flow while achieving robust organic growth and replacing a significant portion of its ventilator fleet during 2025, and offered guidance stating that net revenue for the year ending December 31, 2025 is expected to be in the range of $254 million to $265 million.

“We plan to ramp up our sales force at a more aggressive pace to further penetrate a massively underserved market for non-invasive ventilation, sleep, staffing, and other complementary services,” Hoyt said. “We also expect our trusted place in the home and our extensive, national payer relationships to create new opportunities to amplify these partnerships and potentially pursue inorganic growth.”