Viemed Healthcare, Inc. · NASDAQ:VMD
Viemed Healthcare — Investor Presentation (March 2026)
32 slides from Viemed Healthcare's investor presentation, Mar 16, 2026
Slide 1: A Rapidly Growing National Leader In Home-Based Clinical Care
A Rapidly Growing National Leader In Home-Based Clinical Care. Investor Presentation: NASDAQ: VMD March 2026 VieMed Healthcare Inc. • Investor Presentation 1
Slide 2: Disclaimers and Other Important Information
Disclaimers VieMed Healthcare Inc. • Investor Presentation Disclaimers and Other Important Information This presentation (the “Presentation”) about VieMed Healthcare, Inc. (“VieMed” or the “Company”) is dated March 2026. It presents information in a summary form and does not purport to be complete.
Slide 3: An innovative, national in-home healthcare leader built on clinical excellence
An innovative, national in-home healthcare leader built on clinical excellence... High-touch and high-tech services care model drives cost reduction, increases patient satisfaction and reduces rehospitalizations. VieMed Healthcare Inc. • Investor Presentation 3 Founded in 2006 • Public since 2017 •
Slide 4: Led by an experienced management team
…led by an experienced management team… VieMed Healthcare Inc. • Investor Presentation 4 Casey Hoyt CEO and original founder 20+ years with VieMed Michael Moore, RRT President and original founder 20+ years with VieMed Todd Zehnder Chief Operating Officer 10+ years with VieMed Randy Dobbs Board of D
Slide 5: With multiple catalysts driving our growth
...with multiple catalysts driving our growth. 5 VieMed Healthcare Inc. • Investor Presentation Massively underserved market with a purpose-built clinical model to close the gap Complex respiratory care and obstructive sleep apnea remain meaningfully underdiagnosed and undertreated. VieMed's high-to
Slide 6: Complex respiratory care is the foundation of our business
Complex respiratory care is the foundation of our business... VieMed Healthcare Inc. • Investor Presentation Vent Patients on Service 6,500 7,500 8,500 9,500 10,500 11,500 12,500 4Q20 2Q21 4Q21 2Q22 4Q22 2Q23 4Q23 2Q24 4Q24 2Q25 4Q25 1 (1) Vent Patients represents the number of active ventilator pat
Slide 7: Serving a population that is massively underserved
...serving a population that is massively underserved... (1) As of 2024 (source: HME Databank) VieMed Healthcare Inc. • Investor Presentation 25 Million (estimated) people in the U.S. have COPD Approximately 70,000 annual Medicare beneficiaries on NIV service Estimate of 6% market penetration 2,500,
Slide 8: Through a tech-enabled, clinical model that sets us apart
... through a tech-enabled, clinical model that sets us apart... Proprietary clinical platform, connecting best-in-class clinical service with best-in-class devices Increase patient and caregiver engagement Increase efficiency of clinicians through improved remote workflow and proactive patient enga
Slide 9: Backed by real-world outcomes
...and backed by real-world outcomes. VieMed Healthcare Inc. • Investor Presentation Non-invasive ventilation at home reduces mortality in COPD with CRF September 15, 2021 December 29, 2020June 29, 2022 Sample size: 500,000 patients Sample size: 36,000 patients Sample size: 45,000 patients 43% Relat
Slide 10: Our unique operating model has opened doors to expand our patient base
Our unique operating model has opened doors to expand our patient base… VieMed Healthcare Inc. • Investor Presentation 10 L E A N O P E R A T I N G M O D E L ✓ No retail storefronts Minimal brick-and-mortar limited to small distribution hubs ✓ Mobile workforce Sales reps and RTs operate from GPS-mon
Slide 11: Diverse and Reliable Revenue Streams: service mix and payor mix
Ventilation 48% Airway Clearance 7% Oxygen 8% Sleep 21% Maternal 6% Staffing 8% Other 2% Ventilation 87% Airway Clearance 5% Oxygen 1% Sleep 6% Other 1% Medicare 35% Medicaid /MCO 8% Medicare Advantage 21% Commercial 24% Other 12% Medicare 50% Medicaid/ MCO 7% Medicare Advantage 21% Commercial 16% O
Slide 12: Sleep is the clearest example of what that looks like
- 5,000 10,000 15,000 20,000 25,000 30,000 35,000 40,000 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 PAP Therapy Patients Sleep Resupply Patients VieMed Healthcare Inc. • Investor Presentation (1) PAP Therapy patients represents the number of distinct patients billed for PAP therapy
Slide 13: And we're still expanding our reach
VieMed Healthcare Inc. • Investor Presentation 13 ...and we’re still expanding our reach. Oxygen Therapy 8% of Revenue 2025 Growth Rate of 8% Tankless portable oxygen concentrators Device rentals with lifetime caps Earlier stages of COPD Growing referral channel from vent relationships Airway Cleara
Slide 14: Growth Strategy
VieMed Healthcare Inc. • Investor Presentation Growth Strategy 14
Slide 15: Three engines driving our next chapter
VieMed Healthcare Inc. • Investor Presentation 15 Three engines driving our next chapter. O R G A N I C G R O W T H Geographic expansion into new target markets Densify existing markets Women’s health national rollout via existing payers Scale sleep through technology- enabled operations I N O R G A
Slide 16: Disciplined M&A has accelerated the platform
VieMed Healthcare Inc. • Investor Presentation 16 Disciplined M&A has accelerated the platform… Complementary acquisitions leveraging our platform: successfully integrated and accretive June 2023 Complex respiratory synergies Accelerated sleep growth with mature resupply Geographic, product, and pay
Slide 17: And the runway of opportunities is long
VieMed Healthcare Inc. • Investor Presentation 17 … and the runway of opportunities is long. Our infrastructure, clinical expertise, and payor relationships position us to expand into additional complex home- based services as healthcare continues its shift toward home-based care delivery. S E C U L
Slide 18: Regulatory Stability: stable reimbursement environment
Regulatory Stability: Stable reimbursement environment and a new coverage standard that strengthens our position 18 VieMed Healthcare Inc. • Investor Presentation A Rate and Coverage Environment Working in Our Favor. Medicare Reimbursement + 2.0% - 2.8% CPI-driven rate increase took effect in Januar
Slide 19: Financial Performance
VieMed Healthcare Inc. • Investor Presentation Financial Performance 19
Slide 20: 2025: Record results across the business
• Net revenues grew 21% Y-o-Y, reaching a new Company record • Adjusted EBITDA grew 20% Y-o-Y, reaching a new Company record • Diluted EPS grew 32% Y-o-Y, the 9th consecutive year of positive net income • Sleep therapy patients increased 62% Y-o-Y and sleep resupply patient count increased 49% Y-o-Y
Slide 21: With sustained financial performance
VieMed Healthcare Inc. • Investor Presentation 21 …with sustained financial performance… FY 12/31/23 FY 12/31/24 FY 12/31/25 2026 Guidance Net Revenue $ 183.0M $ 224.3M $ 270.3M $ 315.0M Gross Margin % 61.6% 59.4% 57.5% Net Income Attr. to VMD $ 10.2M $ 11.3M $ 14.9M Adjusted EBITDA $ 43.1M $ 51.1M
Slide 22: And a long track record of consistent growth
VieMed Healthcare Inc. • Investor Presentation $- $50,000,000 $100,000,000 $150,000,000 $200,000,000 $250,000,000 $300,000,000 $350,000,000 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026E Revenue Adj. EBITDA (1) 2020, 2021 and 2022 includes $34.3 million, $8.6 million and $2.3 million of COVID-19
Slide 23: 2026 Guidance & Commentary
2026 Guidance & Commentary 23VieMed Healthcare Inc. • Investor Presentation Net Revenue $310M – $320M Full-Year 2026 Guidance Adjusted EBITDA $65M – $69M Full-Year 2026 Guidance Net CAPEX 10% – 11.5% of Net Revenue Revenue Cadence Q1 Flat to slightly down sequentially vs. Q4 2025; consistent with se
Slide 24: Capital Allocation Strategy
Capital Allocation Strategy 24VieMed Healthcare Inc. • Investor Presentation Our cash flow generation supports all three priorities simultaneously 1 INVEST IN ORGANIC GROWTH Fully funded by operating cash flow. Sleep tech scaling, women’s health national rollout, continued geographic expansion. 2 EX
Slide 25: Why Own VMD
Why Own VMD 25VieMed Healthcare Inc. • Investor Presentation 1 Proven National Platform with Multiple High-Growth Opportunities Infrastructure serving 172,000+ patients across all 50 states, built over a decade of disciplined clinical execution. Ventilation anchor and complementary lines; all levera
Slide 26: Appendix
VieMed Healthcare Inc. • Investor Presentation Appendix 26
Slide 27: Net CAPEX
Net CAPEX For the quarter ended 12/31/25 9/30/25 6/30/25 3/31/25 12/31/24 9/30/24 6/30/24 3/31/24 Purchase of property and equipment 8,737 7,636 8,129 15,483 11,829 11,002 8,934 6,006 Proceeds from sale of property and equipment (1,125) (1,671) (6,402) (6,953) (2,881) (6,033) (766) (641) Net CAPEX 7
Slide 28: Liquidity Metrics
Liquidity Metrics Positioned for growth • The Company maintains a healthy balance sheet with effectively no net debt as of December 31, 2025, providing significant financial flexibility. • As of December 31, 2025, the Company had $46 million in unfunded commitments available under its existing credi
Slide 29: Free Cash Flow reconciliation
For the year ended 12/31/25 12/31/24 12/31/23 Net cash provided by operating activities $ 51,916 $ 39,089 $ 45,212 Less: Purchase of property and equipment (39,985) (37,771) (26,093) Proceeds from sale of property and equipment 16,151 10,321 2,588 Net CAPEX (23,834) (27,450) (23,505) Free Cash Flow
Slide 30: Reconciliation of Adjusted EBITDA
Reconciliation of Adjusted EBITDA (1) Represents non-cash, equity-based compensation expense associated with option and RSU awards. (2) Represents transaction costs and expenses related to acquisition and integration efforts associated with recently announced or completed acquisitions. (3) Represent
Slide 31: Quarterly Adjusted EBITDA reconciliation
(1) Refer to the previous slide for discussion of Adjusted EBITDA. (2) Represents non-cash, equity-based compensation expense associated with option and RSU awards. (3) Represents transaction costs and expenses related to acquisition and integration efforts associated with recently announced or comp
Slide 32: Financial and Operational Highlights
VieMed Healthcare Inc. • Investor Presentation Financial and Operational Highlights (expressed in thousands of U.S. Dollars, except operational information). (1) Refer to slides 30-31 in this presentation for the definition of Adjusted EBITDA and a reconciliation to its most comparable GAAP measure.
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