Viemed Healthcare, Inc. · NASDAQ:VMD
Viemed Healthcare — Q4 2025 Earnings Presentation
10 slides from Viemed Healthcare's earnings presentation, Mar 4, 2026
Slide 1: Financial Supplement Fourth Quarter & Full Year 2025
Financial Supplement NASDAQ: VMD March 4, 2026 1 Fourth Quarter & Full Year 2025
Slide 2: Disclaimers Forward Looking Statements
Disclaimers Forward Looking Statements Certain statements contained in this Financial Supplement may constitute “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 or “forward-looking information” as such term is defined in applicable Canadian
Slide 3: Key Themes for Q4 2025 and FY 2025
Key Themes for Q4 2025 and FY 2025 3 Delivered strong double-digit organic growth complemented by contributions from our 2025 acquisition of Lehan’s Medical Equipment. Generated significantly higher free cash flow, further strengthening our balance sheet and enhancing financial flexibility. Returned
Slide 4: Financial and Operational Highlights
Financial and Operational Highlights 4 (expressed in thousands of U.S. Dollars, except operational information). (1) Refer to “Adjusted EBITDA" in this presentation for the definition of Adjusted EBITDA and a reconciliation to its most comparable GAAP measure. (2) Vent Patients represents the number
Slide 5: Service, Payor and Revenue Mix
Medicare 38% Medicaid/ MCO 8% Medicare Advantage 21% Commercial 21% Other 12% Ventilation 51% Sleep 20% Oxygen 9% Staffing 8% Other 9% Maternal 3% FY 2025 Rental 72% Sales 28% Medicare 41% Medicaid/ MCO 7% Medicare Advantage 21% Commercial 18% Other 13% Ventilation 56% Sleep 16% Oxygen 11% Staffing
Slide 6: Revenue Highlights
Revenue Highlights 6 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 Rental Revenue (expressed in thousands of USD): Ventilators, non-invasive & invasive $35,888 $34,883 $33,819 $32,159 $33,173 $31,772 $30,445 $29,187 Other home medical equipment rentals $16,2
Slide 7: Liquidity Metrics
Liquidity Metrics 7 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 cre
Slide 8: Free Cash Flow
Free Cash Flow 8 VieMed Healthcare Inc. I Supplemental Presentation (expressed in thousands of U.S. Dollars) Reconciliation from GAAP Net Cash Provided by Operating Activities to Non-GAAP Free Cash Flow Management believes free cash flow provides investors with useful insight into the company’s abil
Slide 9: 2026 Guidance – Commentary
2026 Guidance – Commentary 9 Core Metrics • Net revenue of $310 million to $320 million • Adjusted EBITDA of $65 million to $69 million • Net CAPEX of 10% to 11.5% of net revenue Directional Commentary on Quarterly Cadence • Q1 is typically flat to slightly down sequentially when compared with Q4 •
Slide 10: Adjusted EBITDA
Adjusted EBITDA 10 (a) Represents non-cash, equity-based compensation expense associated with option and RSU awards. (b) Represents transaction costs and expenses related to acquisition and integration efforts associated with recently announced or completed acquisitions. (c) Represents impairments o