Quipt Home Medical re-elects board, appoints auditors

On Monday, Quipt Home Medical (TASE:BLWV) Corp. (NASDAQ:QIPT) conducted its annual general meeting, where shareholders voted on key company matters, including the election of directors and the appointment of auditors for the upcoming fiscal year.

During the meeting, shareholders re-elected all four nominated directors to the company’s board, with each director receiving a majority of the votes. Gregory Crawford secured the highest approval with 80.62% of the votes for his re-election, followed by Brian Wessel with 75.80%, Kevin Carter with 75.75%, and Mark Greenberg with 64.88%. The votes withheld ranged from 19.38% to 35.12% for the respective directors. Additionally, there were 6,635,101 broker non-votes for Crawford and Greenberg, and 6,635,100 for Carter and Wessel.

The shareholders also approved the re-appointment of BDO USA, P.C. as the company’s auditors for the fiscal year ending September 30, 2025. The decision was made with a significant majority, as 96.35% voted in favor, with only 3.65% of the votes withheld. There were no broker non-votes on this matter.

Quipt Home Medical Corp., listed on both the Nasdaq Capital Market and the Toronto Stock Exchange, is based in Wilder, Kentucky. The company operates within the healthcare services industry, providing home medical equipment and related services. With a market capitalization of $102 million and annual revenue of $245 million, Quipt maintains strong gross margins of 72%. According to InvestingPro analysis, the company currently trades near its 52-week low of $2.30.

This report is based on the recent SEC filing by Quipt Home Medical Corp. and reflects the results of the shareholder votes as recorded in the 8-K filing dated March 21, 2025. While currently not profitable, analysts tracked by InvestingPro expect the company to achieve profitability this year, with a consensus price target range of $4.00 to $8.25, suggesting significant potential upside. For detailed analysis and additional insights, including 5 more exclusive ProTips, explore Quipt’s comprehensive Pro Research Report, available to InvestingPro subscribers.

In other recent news, Quipt Home Medical Corp reported its Q1 2025 earnings, showing a mixed financial performance. The company posted an earnings per share (EPS) of -$0.03, which was better than the anticipated -$0.08, indicating some operational improvements. However, revenue fell slightly short of expectations, coming in at $61.4 million compared to the forecasted $61.7 million, marking a 2% decrease year-over-year. Despite the revenue miss, Quipt continues to focus on expanding its market presence, now operating in 135 locations across 26 states. The company is targeting 8-10% organic growth for 2025 and aims to improve its EBITDA margins. Analysts from Canaccord Genuity noted the impact of a terminated disposable supply contract, which is expected to result in a $2.5 million headwind in 2025. The company is also dealing with potential impacts from the Humana (NYSE:HUM) contract, which will mostly affect the first two quarters of the year. Despite these challenges, Quipt remains committed to its strategic initiatives and operational efficiency improvements.

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