QIPT.V - Earnings call transcript Q4 2022

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Thank you for standing by. This is the conference operator. Welcome to the fiscal fourth quarter and unaudited Full Year 2022 Results Conference Call for Quip Home Medical Corp. We remind you that 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. could from performance statements. actual company's differ these materially The the like to Greg At I'd turn Crawford. call Officer, this point, Executive to over Chief Chairman and

Gregory Crawford

Thank Home and I'm joining Chairman and all call. you, Officer name the thank of Executive on Quipt My Crawford, today the for Greg is Chief operator, and Medical. us you

delivering XXX each I first-rate of ongoing by thanking start Joining is Mehta, Hardik to order their in me care life patient for our more patient want serve. Quipt than to today commitment quality members to Chief and Financial Officer. the we team the enhance every for

like We are and long-term doctors, facilities. entire key the with rehab able across care our successfully providers to sales touch patient-centric include hospitals, ecosystem by which collaborating a centers company points, run care health

ability patients of our distinguishes we greater possible harness in ability past geared has years, with organizational along to Our enhancing respiratory meets their us our technology for overall made way to home the few quality and needs lower the we all for programs established The the clinical numbers, care what service towards monitor in costs. the redundancy health employ high the treat reduce in specialized patients a touch at with that patients is it of best life to over model market. have platforms efficiently Quipt

vision, Quipt, been stability. fiscal margin growth As we which continued revenue has future year-over-year year strategic carried XX% and XXXX and our active plan included and out another growth successful for strong

is range our essential growth full offering and factor markets. solutions in goes to respiratory a For without success us, it that end-to-end significant a saying maintaining key our of

patients are treatment from goal a provide well all, enthusiastic the possible respiratory primary a to Above our best our XXX,XXX very grow provider we about currently continues we as national patient make ecosystem. to to that to up is at-home enter of all progress. over to XXXX, objective our Our underway. And care regional be

renewed As a making growing we towards our sales move post-pandemic meaningful a and this are we team, progress with initiative. have emphasis on placed environment, we

our the our by access the points will future. sales we fuel hospitals in organic We interact of restricted peak are COPD a the can with on restrictions patients prevalence more sales pandemic, concentrated that To activities main our anticipate now the regions settings. care actively, obtaining touch growth During of with health we with rates end, high high which a in key growth on illness readmission to their aim of performance a which focusing were the call, fiscal record-breaking with XXXX the this update year overall strong. in stage, chain the plans. our be our factor be fourth is business, and and on will you regulatory over current in landscape, core to best sooner which With environment to the focus supply and decade quarter I on continues on full which a continues

date. seen run competitive through meaningful peak our extremely XXXX business for for the competitive is calendar bullish percentage us serviced adjustments We on CPI This believe products adjustment regulatory we a significant which X.X% as providers for The increase program has resulting already X.X%. are most in bidding by inflation CPI in items fee XXXX depends in an evidenced or recently areas. schedule extremely bidding operating was DME have in stabilize Medicare former of our to margins to environment, whether and

to providers long-standing patients. certificates by relieving administrative and our in starting to materially for the result, a net for oxygen health the necessities, discontinuing increase care accessibility requirement effect home of As believe restrictions for patients CMS Moreover, on XXXX. we favorable in CPI XXXX, obtain calendar have income burden has will therapy that the better providing a medical eased

home for has emergency either now These setting our company. or coverage who patients conditions excellent access and for are for the been will therapy. Additionally, acute have patients respiratory with open chronic oxygen room diagnosed changes visit all

is to program by future. for anchored cancel and program the margin patient CMS regulatory the competitive Finally, product foreseeable of categories. our bidding made for has us XXXX has with decision the positive XX cancellation our across The stability provided outlook ensured a underlying the clear environment this product mix

been the greater. are for We ongoing these industry has because to medical regulatory improvements home need glad favorable see the never

Turning environment. to the supply chain

We inventory major exiting powerful devices in continue QX, timely fiscal calendar in to XXXX, see and be sleep expectation QX year. the pre-pandemic through the we contribute setups. improvement calendar saw levels. is with to expect drive to patient real-time allocations QX and tailwind that real our a anticipated and of and be We in significantly steady to supply will growth upcoming time to organic in to back This development fiscal

have results, place million $XX.X XX% total assets over Looking profile. the infrastructure and rate margin been our again, successfully add business, revenue XXXX run and acquisitions at robust period again inflation. scale billing over EBITDA in performance adjusted this exceptional strategic as was fiscal we fiscal margin bad to healthy increase the million, QX, for to us XX.X% very offers particular, this QX, team through XXXX. The ability high for increase maintained freedom our at capabilities operating without in $XXX and have fiscal exemplifies us to XXXX. compromising during debt performance on $XXX.X financial the saw we fiscal a XX% for our revenue locations putting integrate once In to of expense, profile of platform delivered and our Once million currently cash bringing of of operators purchased. margin as consistent We our overall and our a that well flow, saw for strong our fiscal aggressively

continued Our of strong us enables is all and product growth opportunities on to focused categories team across and seize our our markets.

operating year, the streamlining growth effectiveness all of focusing expanding throughout program, reliable robust use continue which and results. on resupply had our comprehensive increase again the procedures once of to produce technology, to effective have We workflow

had XXXX, have operational in geographic summary, increase In regulatory decade. over to We areas financial has million to resilience year active growing well while a all experienced over our operating in appealing thanks best our adjusted nearly during and into we've environment revenue, $XXX impressive in Quipt the opportunities an extraordinary flexibility, patients, several XXX,XXX million our presence XX $XX states EBITDA, in surpassing achieving locations to reaching XX and maintaining margins.

while year that the on to ahead, we increasing over As financial hand shareholder date call to to and be what have for about what results. XXXX all fourth I'd Hardik another achieved like discuss and to year our continue be excited holds, we we the continuing laser-focused future With commentary, to full value. quarter to prepare fiscal

Hardik Mehta

Thanks, Greg.

$XX.X EBITDA per highlights. ended XXXX XXXX representing $XX.X of or income diluted for XXXX, company's XXXX Adjusted $XXX.X for an processes, to year setups Recurring as at compared and XX.X% million setups continued was negative margin and income year year $X.XX key compared strong year some year XXXX, the deliveries September for respiratory of year $XX.X $X.X per year of year-over-year. continues company year increase for for compared XX.X%. fiscal net revenue. or for the XXXX was XXXX $X.XX revenue share of to fiscal or year in XX, million XX.X% million flow million representing $XXX.X margin to loss for strong exceeds September unique fiscal XX% fiscal unique fiscal to be year fiscal million to operations deliveries of of midst year million, completed diluted in representing Adjusted XXXX, to increase fiscal be XXX,XXX million XXXX continues Revenue the compared XX.X%. was environment. the million XXXX, at positive September a in Here ended operating compared and/or increase million deliveries setups to for in compared margin the ended QX from use XXXX representing technology XXX,XXX share. year an XXXX. of XXXX. for XX% XXX,XXX adjusted the EBITDA September was QX fiscal fiscal are fully QX unique Cash to patients centralized XX, XXXX, XX, million XXX,XXX was XXXX Revenue year million, a The increase. XXXX, XXX,XXX of a resupply unique fiscal year increased base patients in the to customer revenue fully EBITDA in for company's total Through for $XX.X $X.X intake year-over-year. served $X.X year of XXXX, Adjusted to year-over-year increased increase and continuing a fiscal XXX,XXX XX% million XX.X% to Net $XX.X from XX% year-over-year. for was Compared a for EBITDA ended XXXX, compared $XX.X QX $X.X XX.X% inflationary for XX, increase revenue XXXX to in

ability XXXX ability For add fiscal Operating add-on million the expense hand ending quarter corresponding the with more was [indiscernible] pride company assets on million of exemplifies of was revenue available net $XX.X our the liabilities. $XX.X XX.X% million total more expense year full performance. September credit capabilities. in Current in $X.X reported the take to $XX year of cash million in X.X%. . and period billing million and XXXX, is bad XX.X% as on and XXXX, This execution without towards $XX.X XXXX. of than fourth of ongoing XXXX in fiscal scale year million acquisitions at through totaled to September for debt $XX.X evident compared XX, compromising that short-term available to compared The line our We our the and credit strength

pleased we and acquisitions present full stability we the margins XXXX margins million, our strong with to margin short-term further Full year the and as XX.X%, For calendar quarter that fiscal year, and were fiscal $XXX.X revenue $XX.X are fourth at very a fiscal of lag very improve to made also have environments created given adjusted respectively. margin, progresses. expect the inflationary million XXXX and in EBITDA

improved results income announced that we team believe believe we encouraging, have regularly positive across the key XXXX, a a recent we capabilities, our which of on will any growth. and adjustment CPI organizational successfully net impact significantly promotes The meaningful XXXX. in the operating we areas fiscal members fantastic calendar are have Through business. that very strategy includes created have our new ongoing Additionally, and

our recurring it to reporting. of monitored with in on secured In adjusted currently scale with in is aging announced solid XX, and acquisitions over Citizens X in illness of an comprised combined $X stayed another flow, XX% First overall in robust Trust completed, enable to us which consistently $XXX once during has in a at financial the and base. gaining for provided Bank acquisitions additional maintain inflation allowed calendar health an consistency schedule. perspective, U.S. rising of secured active The care fiscal credit term an $XX additional revenue such are us our fourth quarter closing financial successfully added we the added continues and term the credit facilities security a gives senior as produce facility various as of relates with draw Bank, million, amount all the chain in us of division million tailwinds, strategy. base, and and CIT results. the On base delayed a tremendously in are of million credit resilience need facility a and the M&A amount of our of September population senior are in completed Americans in which amount facility revolving Hometown increase has number of senior revenue principal we in our $XX aggregate credit over Medical, and which trend an constraints, state of Our chronic in be operational business principal $X and integration to cash million Company. XX,XXX revenue supply EBITDA and margins XXXX loan in The From calendar to as and facilities revenue the enhanced aggregate we X million an presence home to XXXX, million. our Mississippi. greatly $XX validation sales of attractive our The patients, aggregate The principal loan spite powerful

financial with are to XXXX and growth we ample implement to increase strategy resources, positioned approach continue shareholder our and we acquisition As well value.

over objective strict to to XX% of processes, along provider has long-term which As health catalyst home work of our of been integration continue in our towards the consistent basis. the revenue United we our an national of care a criteria on with adhere States, becoming our we displayed growth annual

organization and care with sector. from well the health a treatment, any on we business our concentration the As economic potential nature of challenges insulated respiratory given feel

the opportunity, and Greg. pipeline XXXX. turn update, with provides that acquisition us balance back current we anticipate to being our significant into you. we as I'll and mentioned, move Greg sheet As call enhanced Thank And active

Gregory Crawford

the with Quipt referring country, Thanks, expanding across deliveries hundreds XX of more is thousands actively to over patients XXX,XXX Hardik. XX,XXX across completing states. active than of physicians

In growth contract of anticipate insurer in care nationwide such acquisitions, future development network UnitedHealthcare, continued scale and into major to is the strategy, country. markets XXXX. and fifth growth the biggest patient the Quipt we our of insurance our to making By estimate supplier the penetrate carrying opportunity our gives find continuing our across was we going the streamline health investing largest momentum in base out organic milestone as terms ways platform. and us health United while grow crucial States. the presently operational revenue, HME elements expanding A attractive attractive in This the achieved the care to from nation,

on patient in high our With regard additional national we advantages strategy, UnitedHealth continue patient-centric confidence, robust degree both securing help we commercial payers aggressive of with and of this greatly patients a XXXX, our we keep to accessibility. insurance for them contracts payers. collaborating growth strategy the sizable arrangement comprehend with and As to increased have has early will

take to referral commercial growth, have land-and-expand physician sizable opportunity to future the contracts robust valued amassed. thanks and we and our base have patient approach a We network to insurance

can the is ensure substantial we a is As treated that a see possible. existing care in home wherever landscape, being a effort to setting made from patient

resupply focus continue referral we which develop through invest or ways automated organization. productivity our to fuel create targeted to engagement. continuous sales keep results the our ordering the subscription-based will platform the help Whether organic to it on result, sources, in helps best to with us continue technology to in investments scalable cycle As usage growth. connection increase our accretive additionally, a And our is through program, healthcare revenue levels. long-term benefit efficiencies. cash enhances of will patient value, raising continue our promote ascertaining systems, compliance Furthermore, operating we These our management enable and margin business expansion, increases connected to this acquisitions generation, and efforts automated

treatments, plans, to the effectiveness move hospital all strategy growth would our may XXXX. advantageous treatment as track stays which we Additionally, early to core encourage with I and X you of of we now into the payers. of review lower like are components

profitable our hospitals, market completely which initiatives share are First, way that for This economically through sound. patient we our signing organic and Quipt considering population, numerous offices our expanding to and growth, the payers growing in Extending opportunities synergistic important in contracts into across a focused points sales on includes both supplement is all and rehabilitation like current reaches by increasing the doctors significant categories, facilities. our accessibility U.S., additional providing brand-new in insurance team, is how touch with existing patient opening cross-selling product infrastructure locations future markets. national of

to enhance in forefront across front. continue respiratory which platform, look acquisition the business technology revenue the terms offers keeps element the resupply excellent third and we us operating implementation us of includes technology our robust on acquisitions growth our a Second, Strategic plan. results. market synergies the make of on to deploy up will of to This

We that searching turnkey platform. be can incorporated are into for our businesses easily scalable respiratory

our geographic diversifying scale with reach growing payer and new states. base and are economically building both concentrating the of strategic our We existing objective on into

reach, been XXXX. execute investors Thanks has provide overall conferences, This pipeline, to be which we the to first to U.S. ample XXXX. of the capital the for active and EBITDA, flexibility and revenue, since financial in We investor patient interact person acquisition markets in-person XXXX. have of base grow to to opportunity continue has our expect in the in the with on road opportunities active us in NASDAQ been should our front in the reintroduction to company shows listing geographic May

and to Our the broaden to be amazing many opportunities geographic told, our only has of story just shareholder diversity base. see caliber and we begun

We base ownership have increase our throughout shareholder overall as as already U.S. institutional our well XXXX. seen

economic from organization any well of given treatment, a and As on our business feel the we potential respiratory care with insulated challenges health sector. concentration a nature

continue conferences road shows. into we participating move important investor taking will we As part and in XXXX, in

I for the updating perseverance am investors we incredibly entire As the rate beyond. revenue $XXX on and very has and $XX I set confident our we million developed, above over business QX, to those of we outcomes direct When successful in adjusted in in consider rate at team of efforts. how their results commitment fiscal and our and The trajectory XXXX as million aggressive run to over are are going into of our EBITDA, proud run look forward growth move progress.

company are We seizing to are the continuous possibilities position the landscape, currently the continuing to must numerous in industry's And given for available to continue proactive bullish be strategically strong we growth. that us.

the operational expansion aggressive all includes credit to have tools We out sheet, million which senior facilities. our excellence $XXX or our in pristine necessary to balance and strategy, carry thanks our

are optimistic in again, for care team our the of Quipt for like the XXX,XXX Once entire take more would stakeholders for. future its efforts extremely I about its to the for moment we all We to and what continued support. their Quipt holds tireless patients than thank

Operator

[Operator Instructions].

from Securities. Beacon Cooper question from Doug first Our comes

Doug Cooper

various Or and the look for Greg growth and oxygen, where CPAP When bit between into the on than say, like other? of color the across out by just growth us you uptick, more category, of very outlook Thanks products? each the events one products, give is Hardik. see your a I comprehensive more of you a can XXXX sort

Gregory Crawford

are product of don't look several like to other past expect XXXX. revenue think at other That that we that years supplies as actually, complement have. other different that side product DME in there'll we of that and any for stayed that of I respiratory total XX% in patients a steady do that that pretty categories -- and those and the on can things XX% stay in that in Doug. revenue, we of percentage in the to kind in those in But and that and percentage help other continue that being big kind to with respiratory that, although supplies starting invert Thanks, -- mix as over a would that be swing us

Doug Cooper

I -- got contribution, you say, a July now? savings there closed, Medical to all maybe line? almost do acquisitions, you quarter. all the are guess, them Or I any from you Hometown access integrated Okay. Is quarter fully the in guess, from are full that -- more along could early cost any the NORCAL, anticipate of

Gregory Crawford

that good very say that the winding the integration especially that towards be a question that those integration acquired and business were that. should we same believe on complete with that's came have is the that, likely looking kind ones of we're that, Yes, margin out we'll 'XX in in front especially in the that of run I'll peak frame. kind June, out. we businesses, full of inflation that time then CPI and we some as there in that those also down the through And of the July that increases stay complete likely pickup could the say, into

Doug Cooper

me. for one last And Okay.

you quantify -- sales maybe Or to growth that on Can Just what sales the that? talked give X-pronged your of just by strategy, team, grow to -- thing? the add increasing you sales looking more team kind more are the team. the to you that? color XX% And about growth

Gregory Crawford

they've just access something the for of Yes, in seen through really that to that able frankly, face-to-face a and to little everything the that been more -- be But where have we'll up that. been meetings and able sure. in make call that anything, those has a pandemic been us consistently points to points. presentations bit open and and struggle than That's we've has

and low we of XX%, -- be would increase that. year kind on our part in that We've so. that. expect in them X get It of bar consistently We're bar that adding So where done some would to been that ramped to to the take or they're reps. this the way up that well month really on that in that the time to plus contributing does and and additional get

So excited we're 'XX. about pretty

Doug Cooper

can Okay. to SEDAR Hardik, expect just filings on we done? the sort when And of be

Hardik Mehta

do is Pretty sooner it soon. we XX, to than but Obviously, deadline the the that. expect

Doug Cooper

won't Okay. But out today, be not -- think? you

Hardik Mehta

today. Not

Operator

from Our James. Raymond next question comes from Rahul Sarugaser

Rahul Sarugaser

the year. Congrats this rep on growth

partial in of how $XXX So the I the end wanted is given line that that July, million seen the tracking on company guidance? of by to How we've just contribution. check calendar top towards guidance year, much in

Gregory Crawford

Yes, sure.

on here calendar the was in So guidance number 'XX fiscal in that. our given that that, that some in was exiting that which QX is

So a have I'll say to go. we ways do little,

for some and timing give able that that acquisitions to that to have confidence that of haven't that's of that reported February. It's in us when these hard but outlook. be will do those the to out meet We going in kind yet, numbers in we exactly high in to in of order predict happen, level being in very a

Rahul Sarugaser

further. Okay. And little drill don't bit Great. a I mind if you just if

to order about $XX less need that in [indiscernible] QX calendar of adding probably So in just than towards million to the year. end the be over outlook, you meet

if sort even we that's so acquisitions, smaller around X-ish. of And estimate

unpredictable, order general to about sort the a hit give sort we acquisitions So acquisitions in is thinking of though that hit target of target? those a of should the how even that could be to you number sense, size maybe of that -- little us timing less and get

Gregory Crawford

of our acquisition strategy in on Yes. X Well, prongs we all to that in that. continue focused remain

additional in acquisitions. with also key that kind X under larger would be So $X and respiratory -- to $XX and also then companies, million million smaller turnkey those proving continue that, that the in say, then sized in through are million of that

it's the or acquisitions, and to line to it timing to finish make X to what's give it's us get on of those X kind whether with that of it's kind going that particular that So hard really and there.

Rahul Sarugaser

do of given forward are into multiples generally there, the more rising given as pick Okay. given out XXXX, of seeing slightly you at look Are or they That's static? environment, your the find And you how Or deals in sort compression environment? assets is XXXX, -- helpful. you're current to rate pricing sort then there up the that of able we on pipeline? cheaper calendar prices

Gregory Crawford

Yes.

that the believe, that I that, pause was about Hardik, question, of having Sorry but silence in -- in answering

Hardik Mehta

I'm Sorry. sorry.

Gregory Crawford

There you go.

Hardik Mehta

lower seeing expect what are used of do they a X working markets it that to a Hardik. somewhere. ones the but been reasons Sorry my are slightly from bad, I contribute response Generally, I again, I you months be to ago. some the mute having we than in multiples My in of in [indiscernible] had yet. that just on, to the some guess skilled of speak probably of we buyer, newer was kind into just of actively is we is it the kind into GBD. to magnitude adjustments would that can't of are be favor of hold. X, going that pipeline, XXXX, X, favor mostly This the explained ones, believe of a the buyer. But magnitude The kind it

Rahul Sarugaser

Okay. Wishing you the That's helpful. the of luck year. for next best

Operator

next comes Tania Canaccord from Armstrong-Whitworth question Our Genuity. from

Tania Armstrong-Whitworth

-- backlog, device in where able remarks prepared are that mentioned you the Are backlog pre-pandemic your levels you On sits think approaching supply to quantify today? levels. sleep that I the your

Gregory Crawford

Yes.

we're fiscal in it As items in it improved of were drastically even we're that, that we backlog quite if off some and order supply expect not because able chain that our into has in far in QX as to real that become the time before the for even like really us -- in in -- to we're not, allocation continue and we that. in 'XX, here, that, as that that monitoring

at we've laser-focused towards that in towards year-end as the been rather that is. just backlog than setups looking and here we've calendar So gotten what

Tania Armstrong-Whitworth

Understood.

Okay.

could has So of that as see fiscal still kind that backlog of volume increased alleviated we in bubble been QX?

Gregory Crawford

this an amount availability that seeing of of increase -- to the during in setups inventory. quarter due in are We

Tania Armstrong-Whitworth

then I growth somewhere, you but missed quarter? Excellent. organic disclose Okay. this the And did next for I think

Hardik Mehta

Yes.

versus the organic Just the growth correctly, the quarter heard to was make question, I for this QX? what what's sure

Tania Armstrong-Whitworth

Yes, correct.

Hardik Mehta

Yes.

was So you in, to frankly, organic from pretty that of think organic growth the the QX with growth QX pretty flat if was specifically hometown, addition factor flat. I

Tania Armstrong-Whitworth

of the of lastly, few you're qualified it Okay. what have comes in your members little bit. you a labor your last wage mentioned to things, side other you starting the on when But inflation grow months? of know seen And in that then sales to I labor terms even the base, team

Gregory Crawford

And We've labor it and gauge in has of pretty a that. Yes. organization way think that stay a revenue that us became good and at really in the I steady that seen how at percentage for is as to efficient talent look we're same the has. better. is we time, our that. stayed which in in range salaries. in in the really relatively seeing no it question that, that There's -- about But truly at are got that increases pools significant same But much look

labor expense. have So helped with of overall we've been able that really to and create a lot of the organization efficiencies throughout kind the

Operator

next Capital Pu from IA Markets. from Christopher question comes Our

Christopher Pu

in calling Just Chelsea. for

device? like this current sleep ones about -- clears? me. once just about Is for of to couple from eventually like of question implementation follow-up just a of regards the I'm like status Just updates sleep a devices In devices. What's any quick of wondering sleep new the any kind there backlog Tanya's that. the

Hardik Mehta

are some influx mentioned seeing Greg fresh right, in. earlier, of As how inventory we coming

getting are by the restriction of should the which We those restrictions the some our as quarters, have lifted QX. allocations also place, be they indications QX that but into have even or whatever in were in minimum calendar QX, we over from reduced that or suppliers XXXX go of fully in last end couple even restrictions calendar place they place, have still of

QX, end market devices communications we shortage and by are So believe that having intelligence based of on we as the any don't vendors, as that -- far concerned. are with be shouldn't we said, there our really QX, our calendar

Christopher Pu

rate my calendar All last a question is run for year company guidance to your right. provide And XXXX? is, going like

Hardik Mehta

we one this year this line but materialized liberty or have the point. not would No, are discuss the that maybe in we time way in the But of not, point, are we guidance. think point other, discuss maybe to later all maybe at sometimes some at I there and a we where pipeline that once at be few or things would would those finish got to good the a

Operator

question Sutherland next from comes Company. the Benchmark Bill from Our

Bill Sutherland

I wanted year. see to to just then XQ bit little that a the could with more. then wanted in will mentioned in and minute. current if And for us in you on fiscal just organic that the trend components growth you the add I to understand growth organic help various a

way, of I'm help could frame not if great. the various possible would think talk but is you level about kind that some of growth with in If to that be sure these you factors, want [indiscernible]

Hardik Mehta

Sure.

[indiscernible] So some to maybe response but do from thought to I'll the things, I asked of my didn't question justice glad it that because Tania's you question. I probably I'm refrain

from go And in -- business, grow full impact supply you you is those here quarters, device last that we are QX you only the X setups new now with and got of not of you and we started of effect months. you to the XXXX go X and increase of terms that at that continues what I effect increasing, QX you shortages in see recurring now recall effect. quarters at that 'XX reversal And from think start max setups as X, casketing last fiscal setups affecting, to least the setups look but us well, right, seeing I starting last QX, are device in of over as in are again, of increased hitting X the in of is X where and which how time what we recurring of recovery impact resupplies the put from time setting will of of good this looking eventually right, frame into the going quarters then next we out see do forward, place that bottom is of few think that are that you out, into quarters, the the kind casketing additional every the would the X QX things, going XXXX or about you when that it going into the going there terms see casketing specifically kind quarter. in back of is the casketing review tax a a took and effect If place to from

So a organic or our that expected I compared in standards. where kind thing of QX, the QX not to think why include historical growth and explains

I glad for asking included because question again, question. that Tanya's So have should think as a I to response that

into should increase top well. there what there of certainly, On be tailwinds explained. XXXX, CPI I as a that, I is as of going some increased just a result think

average, almost Medicare You our revenue, average. XX% XX% between the guys would revenue. the weighted X.X% a CPI our down you in the And of of somewhere where a has all is so percentage, XX% from if can to decent do X%, to been put weighted math. increases at look we

between is rate minimum, we see back a X% hit we in rate, look that. to, us about at X%. what still XX% all least actually past a market at devices to would of can substantially do growth availability the higher which in growth like at minimum, that XXXX, those, that the be, we somewhere recurring to of factor kind we So again would plus from in hope and suddenly was used growth this we our go organic CPI expect increase nature where of than additional hit the which just we from like X% But to the to growth to historical of to

Bill Sutherland

Great. That's great detail.

product of okay, that expansion. including line to easy locations, I I feel suppose very the mean of XX% like plans [indiscernible] force the pieces bar And to a so over? get make -- I sales kind X% lot there's here on you're expansion,

Hardik Mehta

You to easy is X% bar? XX% said pretty

Bill Sutherland

what Is you that It said? like. feels

Hardik Mehta

we not to frankly feel given can but we you too, minimally story, further but would obviously We're that certainly tailwinds. basis certainly I we should can forecasting starts, the our the speaking, we the very obviously what if given you we think followed think, would do, -- [indiscernible]. but don't to achieve want we to think what like try we Yes, obviously commit

Bill Sutherland

Great. Hardik. Okay. Thanks, I That's all have.

Hardik Mehta

Thanks. Sure.

Operator

over This remarks. conference question-and-answer to to I Greg the Crawford the any closing for session. would concludes back turn like

Gregory Crawford

Thank you today. thank you, for operator, and all participation your

discussed we also you of this can some this the always, on can the be web at everyone. on where call. will of call you, As quipthomemedical.com, us Thank developments the holidays site, and view to transcript find happy products exciting posting the you on and

Operator

call. today's concludes This conference

you for your lines. Thank disconnect have day. participating, and pleasant may You a

Quipt Home Medical (QIPT) 22 Dec 222022 Q4 Earnings call transcript