INFU - Earnings call transcript Q2 2022 | InfuSystem Holdings, Inc.

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Operator

Good day and welcome to the InfuSystem Holdings Incorporated Reports Second Quarter Fiscal Year 2022 Financial Results Conference Call. All participants will be in listen-only mode. [Operator Instructions] After today's presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note, this event is being recorded. I would now like to turn the conference over to managing partner with Mr. Dorame. Joe ahead. go Please

Joe Dorame

With Good today's Chief we'll review call the can thank results open Officer. InfuSystem of President Executive company's XXth, not second Ian. are press Chief the us DiIorio, Officer; Rich for for and After today conclusion quarter Chief anyone numerous of or participating prepared the XXXX. If Operating June ended financial at website to Holdings, full Barry on call the XXXX today retrieve a morning websites. remarks, does you, on for have the you call of Steele, and text questions. and today's Officer; infusystem.com joining other the it us copy from Financial Thank Inc. you Lachance, financial release, Carrie

this which conference the Risk Commission, detailed for the the contain XXst, call in December involve begin company everyone XXXX. Factors are the remind XXXX. Private of constitute filed the Before of of annual documents the like remarks, management certain statements Except by during meaning under on statements Securities prepared uncertainties, some and statements forward-looking this Form we XX-K risks with that and may fact, Exchange would team report Act by of historical of conference including Litigation call Reform forward-looking the within InfuSystem I to for with year statements Securities made the ended

InfuSystem future undertake statements a statements specifically made. no that otherwise. will to of assurance whether Forward-looking obligation be prove statements or statements of give forward-looking does new can result any and speak The such company of not only information, as any date correct. were events as disclaims update the forward-looking the to

Executive InfuSystem. Officer I'd Now, Chief call Rich to to Rich? of turn the DiIorio, over like

Rich DiIorio

Thank earnings time Joe and quarter our us to join today. everyone for call. good and morning the to all you XXXX welcome second Thanks taking

delivered segments quarter core morning's release, results. this press in very communicated solid InfuSystem's business As second

business, led continuing in by oncology, prior by strength year. grew ITS revenue the Our X% over

related first still experienced the includes course, we consumable InfuSystem a in which a business the to compared the half in viewed million, several likely second with the would of business, We anymore. in not a by sales units and sequential by of cash pump, XX%. rentals year Care, Wound product quarter increasing Operating TAM increased consider company DME first basis. success. as second growth quarter. flow including growth on services. Our were years ourselves XX% and X% the a Management, high and story Pain of that of couple quarter X% of to But the year-over-year Together, our now cash grew two quarterly tremendous with biomedical If ago, topline be those flow $X.X we're initiatives exciting

proposing in industry shortage to have So, that is the providing specialist growth our significant grow we history We This recognized quarter be and number to a its for Equipment. successfully us to last-mile opportunities. of InfuSystem's oncology the our successful pace capabilities as repositioned of Having find while this a through for approaching ourselves no a of leaders niche healthcare new resulting X% as us large with business. opportunities an exciting commitment and in companies includes were its stream steady in unique increasing growth company Medical quality, long below second and InfuSystem was Durable year. model at solid, solutions to it halfway expecting

core present believe sustainable of to opportunities growth. those profitable that assess play and the to opportunities, in the our analyze and strengths, long-term continue for We and and passing on pan ideas high in these risk flash we favor best

nimble, business are longer our us our but customers new massive Few things cycle positioning new our but is challenge. The company quickly. ready does and industry-leading presenting, as increasing hurry particular with to result we complex and relatively for to -- a by with that is small in of organizations. many being more work internal pleased through we partners happen work diversified a players industry up the for wait where stand As partners present larger is the on provides itself that leading to transition have healthcare processes. are in wait and much execute, InfuSystem frequently their opportunities our a and

major patient be of business XX% in revenue We've we investments on impact opportunities work the is we win itself always to process, work annually. to quarters of way topline. through InfuSystem. business cycle What single to with didn't we scale announced some customer going be are business year hard making under that large few more execute material when to the coming contract, order our a that anticipated its investments nothing initiatives. maybe it It GE, to we we a income pains work to invest to Until growing being a years the like growth a needed tried dollars way is and guidance. well new was competitor advance to $XX material in driven contract the year out ramp more the the quarter tens began contract started possible We single expenses significant we being work InfuSystem of pending thousands template for opportunities. biomed a in be new being and We as waiting in than Now, revenue would be services That changed must statement. in period made of than Last earlier, by year, last to through explain that ramp as new anticipated the increasing We first new but add that or that we scale business. providing our a more. was new explained ready and ready to example new as we its expected were forward explanation. our a over set this could to be of our recently, their an time. meant a follow adjust of investors and when of transparent patient revenue the exited assume market, want knew as much XXXX with new of as then which oncology this that million lot annual of revenue by patient has appearing while followed payer the is third-party per is That's when

morning's has contracting be is completed. as services much XXXX second are the as approach could the to to than the And process. we're we discussed as year biomed April onboarding than this white our transparent much identified believe in for press work work in process we now finalized. more took reasons be ramp mid under repair of and release, significantly But need quarter. for the of this good that that expected. we report were be the So, we It as the lower began the August taking part In the longer been is delay glove to news the contractor device to long-term, happy for the until while expected large waiting process of

during that InfuSystem extremely no patients result opportunities of is the based towards average lumpy position on revenue forcing lot of the InfuSystem our of I've the solutions make of might of that no contract of that of and and much and growth and average directed company as a for seeing XX%, into doubt healthcare second ramp companies, is work more from global a as explain process We accepting amount of potential. company With The change timing The be a the begin the said in devices opportunities. and are with as and of the in a touching that in something of the is And large coming the timing through agreement, of complex as with towards companies contract process and repositioning view, years opportunities. investments took our The less below XX% a bad that when we can through guidance originally of upwards the part good more range not this of for the we be services above involving us. capable contract growth are getting growth business some up first more and around this pushing remainder shortly, one and exciting should has last-mile while Unfortunately, is a positive. is generating dictating of our new as the control resulted we and there as under trust is with the now opportunities. effect specialist long-term time. revenue and in services will in these master news Stepping emerging Barry healthcare pursued growth per placed that be shortage working back under future company those contract the year. XXXX. with diversified others news are sometimes view of larger have could XXX,XXX national a we large quarter broader the many opportunities, which potential back will of and this forecast. growth significant rate approaching out of when But has that GE the the providing of believe we more such than we came the revenue new initiatives revenue ramp

and We predict timing characterize have new InfuSystem move we only paradigm us and has negotiating respect to pandemic start believe to initiatives us difficult been confidence beaten our revenue will strategies good will work ramp. that when impact it are allow clear guidance. change where annual will it done we back As we our precise these and very in and that we to high very ramp, without these financial with has the growth, become we revenue and provides the to have to the race prior XXXX. We and that revenue opportunities will talk revenue free -- that already where of this will business this its InfuSystem guidance include down in these the to change supply having that visibility determined about as way today, to forward, pursue the opportunities initiatives. periods to up Starting get developments hope extremely as need make associated and chains as continue pin extended

surprises. after challenges to types even quarter, included provision Turning larger risks, faced discussion class new guidance Recall the year our initiatives the example one significant see that providing of a all we then the first another growth have of some InfuSystem. to we but guidance provides quarter the the related for after second on full second that possible we discussed for had quarter, of it

Before very services reviewing let's the GE new were challenges we detail growth details, the that despite contract already a the of our some biomed Healthcare. of year-over-year I've months solid quarter remember various first presented with. provided X% still quarter was with few second big the with

initial determined with team's led on-site expected to required. scope required the more of the This in maintenance. amount alignment of the our we we work addition achieve preventative During a work visits, work repair was GE it to routine on than to as pause

of are onboarding at to pumps an pace. As we back this and facilities doing are August, and elevated we

potential we expect the size of of take continues the to anticipated master onboard XX develop. work the agreement the work approximately under sites and to project, as all months the additional of the to relationship to with ramp Given services it

for year, to due levels assumptions the modeling regarding we to revenue making including repair cautiously, higher no the guidance are of work. increase relating terms pump service In incremental

issue in the and patient backlog this the all still and we we didn't were prospects. Pain treatments resolved, and we positive quarter our very its second business, us is and had onboard near-term to growing Management some our with chain ramp to the allow issues record the expect next quarter, excited supply remain able to program of end Moving new continue. about accounts, In to which

In June versus fact, XX% of treatments up in June over patient were XXXX.

In numbers but forecast growth the Care we issues. for continue our have management guidance we through Wound interruptions, of material half terms of balance to to adjusted the program reflect business, In our core the our year. first year, also supply the pain in experienced strong

equipment meantime, supplier guidance providing EBITDA the and year guidance to trends supply both range adjusted with that release producing anticipation and plan diversifying the path, our the soon and win a growth care begun opportunities be currently taking businesses have revenues of press partners. we services by and alternative of relating one a from offerings In revise are announcing significant are be These already is In large and devices. guidance. to discussed figures OEM among of the our products are share. deals these lease the we XX% XX% on to our adding progress assessment effect Here in best-in-class of revenue expand to upon this XXXX to in wound other to the plan long-term approach in forecasted to market on new partnership. We've to service newer different removed consistent in of core multiple net current our customer to pain XX% and hold things, XX%. The relationship, offering area order the hope based our two made put in We be our issuing to a full in our together our impacts range new other with revenue. our the above new we've to

less New ramp. timing regarding forecast timing rate calculate clear will updated visibility largely and can taken of of initiatives precisely are with the timing and when is the ramp and the and we be out the

[indiscernible]. in of now transparent where have its we will including take business revenue to to seek we we the realized speaking our out potential the respect revenue expenses initiatives, Respecting in but rate and is is anticipation revenue. and this, are taking well-defined guidance were we forecasts our will we it uncertain of investing, confidence out of but in as While the new with that until that remain to high can of guidance, our why timing, not be

of would Steele, the financial to second -- turn call review our CFO, results. I who Now, our quarter to like call over provide Barry will a

Barry Steele

main and Rich to in on us the financial quarter related to the you, the for the on the current going rest results, drivers XXXX, and of details three today. thank the topics, our I'm status of for Thank you focus guidance call our everyone revenue reserves. some for and financial change resource joining

record were leading second with for these to product-by-product leading Said this the absorbed by other continue biomed expenses our second and in workforce be initial DME partially the $XX to ITS that fixed biomed and percentage Preparations with XX% rentals will expected to short-term, the services and revenue the include biomedical XX%. accretive, significant increase that included gross which and forward in the million biomed These XXXX. us cost company both additional as highly quarter by of increase of global million on agreement during margins are offset First, grow on totaled way, both representing from expenses revenue quarter, came quarter highest and approximate diagnostic is other cost The unfavorably that for amounts not healthcare prior we year was the general biomedical revenues. was along given setting the master equipment for services way factors additional higher increased services growth our that management, our which profit additional quarter, from in agreement, further a in growth and volume, the approximately which the margin quarter with cost large in of to These Oncology both the our basis, another be higher pushing under XX launched is and basis $XX Pain DME services at the an expected Revenue year-over-year diminished the services biomedical segment. second contributors for $XX a new pain touch revenue the were higher the to percentage revenue Three me revenue a revenue biomed in both the essentially Net agreement, in initial expenses. grew let expenses. after our from services this the April ramp-up technology during yet for create On Management a with segments slightly short-term. a year-over-year The new metrics. of increases revenues grow the for various following. row. annually second G&A this in profit improvements of X% segments to million, results operating financial anticipated and months. XXXX quarter sequential administrative sales service and which and continue during segment impacted period include included

inventory First, assumption adjustment was we has but increased physical to of related our pumps missing estimated customers, to to reserve calculate the a The change various taken in by the reserve. also recent during the $XXX,XXX use estimated due quarter. amount for partially

the from the second on higher pump current ITS current of maintenance for margin segment, the repairs, to the basis. Second, a quarter elevated the expenses, a for expenses equipment Without slightly the reserve comparatively maintenance and year-over-year fluctuate have during timing ITS equipment were the depending the would segment -- higher slightly can the sequential adjustment which and quarter-to-quarter slightly gross quarter. been current on both during

expenses related conducted in-person due our to a quarter first each the on incurred we these Negative Pain Third, marketing to totaling lower during in now incentive higher decrease were related expense plan expenses outlook. program offsetting increase decrease XXXX expense lower valuations to stock-based and started timing during short-term and typically Partially which Pressure the selling and G&A compensation split were relating of a accrued additional marketing which costs team new in Therapy expense. activities, evenly and the are stock between second Reflecting awards. XXXX $XXX,XXX expenses. selling sales quarter year, was the for Wound to Management, increase lower This of being

second of our and EBITDA in quarter. second our $X.X $XXX,XXX represented these or of for of the investment adjusted teams, was lower was XX.X% but This amount XXXX particularly of outlook XXXX revenue salesforce the the That during our a ITS me than in the takes investments million, or to $X.X the sequentially the biomed impacts, increase first million from subject net the XXXX, year. results of XX% quarter the quarter. As rest added

now XX% As most year million net developments. hold revenue That $X net million an large, lower disruption. the XX%. we between Rich important represents the which is are $X XXXX forecasting revenue have supply increase million very over a been is handful these on to million, are approximately of mentioned, than to prior during be $XXX that $XXX to are estimate. a to This put driven reduction The of by due our only previous but equipment leases of and

now $X all leasing our revenue have We a opportunities reduction our of guidance forecast level. of the million million with for resulting out moved list, to $X and prior from model XXXX into revenue

we Second, Rich to that ramp lowered onboarding related mentioned, large in the contract commenced year of work May. as current the early biomed amount

estimated Our online reduced earlier This coming for ramp previous XX-month revenue had assumption by $X XXXX the parts period. pumps estimate more to million. million of change during the $X

we date, back other lower approximately biomed not impact revenue level contracts. the confidence Third, the but in two million for outlook. moved starting change $X The was did

included previous to management low the pipeline. Finally, new supply pain estimates of of The too our chain an impact headwinds. impact related the customer

$X the Ironically, quarter management. and of in market resulted hurt anticipated pain million $X year in revenue. rental in in this supply improvement reductions resolved for these revenue from for equipment the final an increase delay a second disruption is XXXX weeks expectations outperformed quarter, full in of a resulted us the the our the about our expectation. same higher outlook offsetting largely in increase While part the than that wide Partially revenue, million reduction resulted in which our

be between decreases $XX in to for be expected million, As of to the $XX these revenue, margin a adjusted EBITDA within range and of expected XX% million EBITDA adjusted XX%. is result XXXX to

debt point Turning be of and from backed few flow available credit position strong our continue to to reserves, revenue manageable liquidity operations leverage service and by revolving reserves we with financial growth line a a from well-positioned fund in requirements. and capital to significant net cash

increased the Our without modestly XX million our that end EBITDA ratio reduction in and to times this reducing end debt the X.XX XXXX to quarter offset net as of X.XX debt stock the only same of to amount the times X debt would the is months quarter our funds $XX million by times. Most these by paying XXXX The and lower during $XX.X to by -- available end repurchase to of at revolver debt attributable million the increase for gone total last quarter. have of total the fourth down ratio the at the without $X.X EBITDA repurchases to -- these adjusted the which of compared to liquidity the quarter. partially to increase decreased to caused without million X.XX the at funds

over of credit, protected increasing revolving no three with million back and rate half Our remaining a tenure. interest having and to term on it swap Mr. which borrowings years requirements, payments from interest the consist same term of debt almost And $XX is on turn of like DiIorio. a a an with line that, to I'd through rates

Rich DiIorio

safe, plans InfuSystem. and partners, customers, patients In for leading long-term thank service. are want is and transforming success. foundation clinic for care care operational enabling Barry. improving confident to years, everything for service entire well-positioned have growth continuity our to to culture to XX their and our hard driving and patient the never for and closing the more we team home, on industry-leading in build of of into highly at we our by The and we trusted company InfuSystem better InfuSystem the of a growth ensuring on executing hard We're I we our and provider, and and focused We're for the work bigger of been worked opportunities plans dedication has embodies that motto care center multiple receive markets. Thanks are build than excellence quality do. healthcare acute progress in our a the stronger a making smart,

fall as part fifth-year set members coming of myself, some know and XXXX including like awarded would expire. the I that questions, of now executive on take of in options to our to anniversary up that are stock let we the their were compensation, team, everybody Before are

Form filings some confidence before of is respect see the team they the type transaction in or of those to as this future great way we're questions. a to absolutely X execute to answer our no company. likely will the reflection expire. business needs some It any We with of now, happy And options an

Operator

We will Craig-Hallum first begin Alex come Instructions] is Capital Nowak going ahead. session. now question-and-answer the Our [Operator Please question go from Group. of to

Unidentified Analyst

Good morning, everyone. This is Jason [ph] for Alex.

So, just starting in little out, more year dig just wanted bit guidance. to full a the on

DME, the rate Pain kind of assumptions outdated each assumptions is end run then you what's bit some just So, in for year included Wound, And we're assumptions helpful biomed do growth there just $X get $X.X for more that we a growth contract, for would million linear is And could if to on business? where year for expecting million for that of ITS Thanks. the and know. so then think now? and be

Barry Steele

took million guidance question we was biomed million $X million, old the that, $X.X or been million the contract, down $X.X $X of taking So, on in now We had now. have million. it we it's to a may about -- for out took $X.X that think couple our I

Rich DiIorio

in Pain have the in of we've business issues and $XX really we've million -- is right, But customers pipeline We service, the DME of we it it's run pipeline, million we new the million, Pain $X ever COVID pretty for Yes, and hired $X be pushing in to can this the coming rate we the $X from and its with most to rate fourth the somewhere service at and can, on the this probably the that look about expect the coming team largely we is quarter, big in perspective. it. see, optimistic business we're on the to over been a $XX side, we of, ones kind without but fourth Pain where supply the own, ones business on months, Pain optimistic that run forecast couple has last quarter of on that when the we've range. been a on might out last a the the it with already resolved out million built, that be million an summer impact or

Unidentified Analyst

a and things sounds with have what recovered. then what are pair No, of, been you now digging just kind trying what's just guys dynamics Could more into that guidance, obviously -- And August like it's July on Wound taken had what you helpful. Pain little It kind of in that are of and point. bit here? And where through like out expand seeing certainly to you of But was there? excited. are sounds it kind on the

And be some helpful. commentary so there just would

Rich DiIorio

we where Yes, need. taken on fortuitous manufacturer at give can't of kind a we're think the we you been can that get Barry looking Wound chain guidance I side, device. what's have already Care numbers. But devices out is largely It's issue to We of the the the leases. just another second in a supply

So, year. quarter in know still they're them, if we don't get the although the we're hopeful, we're or fourth to third quarter come the leases, next going to going

Wound the that that's and we of out that what Care out So, of that pulled of we or segment out largely pull business.

or out the Barry million year the And had with COVID side, revenue a Pain? was of that delay beginning On the don't to out. chain think $X number pulled I Pain, May. issue push at and million in we pain We and I it know have you on the of April really mostly $X then if supply the the just

Barry Steele

Pain. $X out about of took we Yes, million

Rich DiIorio

Yes.

Barry Steele

$X The leases was range. $X to million million

Unidentified Analyst

business? within changes health me, And more enabling? from it have be your we've to the just that home seen impact guys lastly impact any on on the home it'd move recently. great how thoughts in you does Do are guys your care to reimbursement get the they And

Rich DiIorio

codes. health home build us. agencies. Yes, We have so differently than different had on impact We're the changes no licensed themselves

recovery seen we've from are see out patient a it's for zero So, The cheaper hospital. patients still and to any. fact the better get of the overall. standpoint, shouldn't It's to the impact system is people trying

changed. hasn't move that So,

impact will us really these think don't I any So, way. in

Unidentified Analyst

guys. Thanks back in queue. I'll the hop Awesome.

Rich DiIorio

you. Thank

Operator

will Street Capital. question Brooks from second Our ahead. go of Please Lake O'Neil come

Brooks O'Neil

business I you your or all just and versus existing morning, focus do of off But Rich taking And and with have about three your adding opportunities lot four Good color. think on forward advantage a that. plate Thanks your Really for by new the the how it got guys. you're well. is through maybe position very you those opportunities before start now new solidifying silos you important beyond how areas ones. perhaps right of obviously move additional asking appreciate you guess I'd managing today?

Rich DiIorio

Brooks. That's Thanks great a question.

familiar see guess a we're couple I trail answer market that into going with therapy and a a or doesn't anytime that market already. couple So, have we're in That really Wound Care things. of don't different getting any penetration won't in, so, with, therapies a our with Pain, new mean new out and our within blazing us I different I expand products soon, can we not kind and Oncology. lines the

perfectly, the scratch. I something from we're not see team, in customers, the new we So, go it's therapy' you already we have with said the in those in have it's markets we just something want sales in, -- of product, solidify already can you but a leverage and we we're one go it where position start with to we're don't to first. businesses or might 'new products our relationships think

and are in us something for I having different with Pain and Wound the distract just just different. think opportunities of the the Care new and something team biomed big in new and to are sake the for go too

the markets we see going have, into those I next will So, we're products to six over buckle sure new three months. to XX going down focus some what for think on you but

Brooks O'Neil

of just Or space? lymphedema pushed And have from thought into bit? that curious, away something out the you Cool. that's your the moving moved into is a just future little

Rich DiIorio

reason to. the front I rush got GE with side, still soon with some working opportunity, coming just about in it there's have think the hopefully biomed out through background Pain a of, the and what don't need We Care But dedicated resources to talk little the and center pushed program. no bit. seeing expansion lymphedema, on think we're with we I we'll kind Wound to and the

thoughts potential the a chunk attack ready, businesses it, in and us market is haven't too team I still it. for think to we're at have plenty I that and TAM My of itself this when out the market. want is we're But get don't go to And there. thin. all in our short-term. on that we in to spread go the the changed ability lymphedema the we'll go after good just

Brooks O'Neil

Sure. total That me. to makes sense

right opportunity now Yeah, that's you've alluded resources. use last you've Sounds I'm for me. got way new in plenty the core like talk Care. general a Wound of foresee Cardinal? with in on to areas you One in bit to Do little relationship? the going about question your having probably impact any -- your how just so things and Or relationship curious Cardinal that how are

Rich DiIorio

always carry new cover the every We board of I will kind Yes, and at kind tied that Cardinal, -- across manufacturers just and demand have We market. Cardinal pump can all. device true a try we the we that's affect exclusive one right? them in so don't for meet customer and that's be with us, into who so think It's not -- agnostic we've product an relationship to with true don't product. of patient been. be we And

and been always time. the exactly why. We even The get some at other Cardinal products been have last can't or know month in don't their devices relationship for we've quite So, been interesting so. I just with we look has able and to

have But thoughts, because the them pull to leases couldn't pull to doing. speculate devices. out. and them -- had don't our we want what to pretty we certainly closing don't We had get were that's the they're close to We but on why I

looking So, the to and another soon. going is customer -- to we're going think from partnering now going manufacturer, back at with we're device be that I be a

devices. respect, little devices that's had what's We we we forecast. So, get of on suppliers pull get clear the support their get still it's patients than we really were additional And them can't because in now. other leases their out but have, just bit strained to to we right not can a the on going can't exactly why that the with we

timing doesn't online. -- the it's it's shortly it the have not I come we do whether a something not back well will solution add for third and that. guess leases on quarter, make think want But any next us to just quarter, year, we'll sense it's to fourth

Brooks O'Neil

for great total about to all general, Makes went feel of you Sure. ability you your how in you in the manage sense. capital balance the maybe have sheet, quickly, just obviously, then status of opportunities Barry And and through through the do But cash you? front the allocation flows.

Barry Steele

of finance. anything have take we set beyond dry wealth way We're investment far the as to very on our a business. as think to comes powder that well I

So, we're very comfortable.

Brooks O'Neil

Great. very you Congratulations. Thank much.

Rich DiIorio

Brooks. Thanks

Operator

[Operator Sidoti go Instructions] will next from Our of & Sidoti Please ahead. question Company. Jim come

Jim Sidoti

the Good morning. for taking Thanks questions.

major like than go was from the homes initial you guidance a -- thought factor the more caused reduction resulted it can those So, the the that over GE, why you in the of ramp sounds revenue ramp just needed service little delay the ramp? in again revenue

Rich DiIorio

ended was big we place, the devices. at for X,XXX were up good the they and guard itself is the that little how Yes, get or repairing a right of news mess. their we were program a maintain messy We and was they into of And everywhere, that's X,XXX off and devices they don't pretty There some repair part the kind had, devices, charge is was. GE news were caught to that, sized rest. bad so to The really broken a it know, devices and a first of customer good walked story. I hospital, lot

of, things. did are we down and worked sorts of why we make -- what it, those did, we sat sure kind they talking our through systems So, and together

out. So, July rollout is -- ironed as it we good XX alone, twice as call XX devices the it, going combined. the In days, in probably we're all many that's June did just or by, onboard think and to news pauses this I month

the under hospital. get feet will all bit We been our little of, until we be all on. at don't that than there'll through, some be every going will be what to pause that that expect some for was But messy, kind be others. cleaner a program it's So, worked just, us and assess could

think more their is customer But guard even is did than off devices fixed, it us. all maintained. it I them the the get good caught probably happy repaired, news to

redeploy can Now, on back they to and them what they need do treat floors patients. patient up do, which is

Jim Sidoti

little So, or than contract -- the revenue the a four although potential from that next higher the thought, It a right? think? bit is for little years to it been initially, three could thought is over initial going sounds like you you lower you than revenue the be have is

Rich DiIorio

a but is there. I revenue the initial it's revenue -- from to from $XX wouldn't be that say million be just going -- to It's that initial months, still $XX that from initial by looking at lower. going the contract to million revenue with few the contract upside we're in delayed

Barry Steele

I off a think it cuts of you it quickly and just up. in about front the tail, little -- for about this half just tails is one few where the Jim, in matter ramps it's bit of the a it months could how the got shorter way, it's think it first XXXX year, pushed,

kind to need in the better which good of get upfront too. So, is get order the just better on time a certainly revenue, to the and actually or is revenue. We over board actually one-timer as outlook pumps is

Jim Sidoti

And then of against at is beginning finished do the goods, that about hedge you supply issues? since year, the with balance the of some like the that XX% chain the it the up looking looks sheet, components something inventory and is is

Barry Steele

supplies our use we we to mostly and it's repair both components that in businesses devices. use Yes, and that parts

a up be high has to issues. order be number generally, potential for But us prepared just of So, it pretty little yes, stock actually supply percentage. a in bit change small any for future so a can a building our

Jim Sidoti

me. right. was That Thank you. it All for

Rich DiIorio

Thanks Jim.

Operator

This time, any turn ahead. back conference concludes like to session. go for DiIorio, Mr. I'd over our Rich Please At to remarks. the this question-and-answer now closing

Rich DiIorio

Thanks hope stay day look Ian. for and host has quarter great I want a we participating everyone to forward today's again call. I have safe call. day. when our to talking third I with good on you Please thank everyone and a

Operator

The now presentation. Thank concluded. conference for is attending you today's

disconnect. now may You

InfuSystem (INFU) 6 Aug 222022 Q2 Earnings call transcript