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10-Q Filing

VIEMED HEALTHCARE, INC. CIK: 1729149 Q1 2022
Filing Information
Form Type 10-Q
Accession Number 0001729149-22-000038
Period End Date 20220331
Filing Date 20220503
Fiscal Year 2022
Fiscal Period Q1
XBRL Instance vmd-20220331_htm.xml
Filing Contents
Balance Sheet 70 line items
Line Item Tag Value Unit Period
Allowance for doubtful accounts AllowanceForDoubtfulAccountsReceivableCurrent $8.00M USD Point-in-time
Allowance for doubtful accounts AllowanceForDoubtfulAccountsReceivableCurrent $8.48M USD Point-in-time
Allowance for doubtful accounts AllowanceForDoubtfulAccountsReceivableCurrent $7.03M USD Point-in-time
Allowance for doubtful accounts AllowanceForDoubtfulAccountsReceivableCurrent $9.01M USD Point-in-time
Inventory reserve InventoryValuationReserves - USD Point-in-time
Inventory reserve InventoryValuationReserves $1.42M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $29.25M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $28.41M USD Point-in-time
Issued (in shares) CommonStockSharesIssued 39.29M shares Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $8,484 and $7,031 at March 31, 2022 and December 31, 2021, respectively AccountsReceivableNetCurrent $12.82M USD Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $8,484 and $7,031 at March 31, 2022 and December 31, 2021, respectively AccountsReceivableNetCurrent $13.60M USD Point-in-time
Outstanding (in shares) CommonStockSharesOutstanding 39.29M shares Point-in-time
Inventory, net of inventory reserve of $0 and $1,418 at March 31, 2022 and December 31, 2021, respectively InventoryNet $2.50M USD Point-in-time
Inventory, net of inventory reserve of $0 and $1,418 at March 31, 2022 and December 31, 2021, respectively InventoryNet $2.46M USD Point-in-time
Income tax receivable IncomeTaxesReceivable $1.89M USD Point-in-time
Income tax receivable IncomeTaxesReceivable $676.00K USD Point-in-time
Prepaid expenses and other assets PrepaidExpenseAndOtherAssetsCurrent $1.78M USD Point-in-time
Prepaid expenses and other assets PrepaidExpenseAndOtherAssetsCurrent $1.73M USD Point-in-time
Total current assets AssetsCurrent $47.31M USD Point-in-time
Total current assets AssetsCurrent $47.80M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $63.98M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $62.85M USD Point-in-time
Equity investments Investments $2.36M USD Point-in-time
Equity investments Investments $2.16M USD Point-in-time
Deferred tax asset DeferredIncomeTaxAssetsNet $4.79M USD Point-in-time
Deferred tax asset DeferredIncomeTaxAssetsNet $3.98M USD Point-in-time
Other long-term assets OtherAssetsNoncurrent $862.00K USD Point-in-time
Other long-term assets OtherAssetsNoncurrent $882.00K USD Point-in-time
Total long-term assets AssetsNoncurrent $70.65M USD Point-in-time
Total long-term assets AssetsNoncurrent $71.20M USD Point-in-time
TOTAL ASSETS Assets $119.01M USD Point-in-time
TOTAL ASSETS Assets $117.96M USD Point-in-time
Trade payables AccountsPayableTradeCurrent $3.24M USD Point-in-time
Trade payables AccountsPayableTradeCurrent $3.70M USD Point-in-time
Deferred revenue ContractWithCustomerLiabilityCurrent $3.89M USD Point-in-time
Deferred revenue ContractWithCustomerLiabilityCurrent $3.75M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $8.88M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $8.74M USD Point-in-time
Current portion of lease liabilities LeaseLiabilityCurrent $464.00K USD Point-in-time
Current portion of lease liabilities LeaseLiabilityCurrent $361.00K USD Point-in-time
Current portion of long-term debt LongTermDebtCurrent $1.48M USD Point-in-time
Current portion of long-term debt LongTermDebtCurrent $1.05M USD Point-in-time
Total current liabilities LiabilitiesCurrent $17.73M USD Point-in-time
Total current liabilities LiabilitiesCurrent $17.81M USD Point-in-time
Accrued liabilities AccountsPayableAndAccruedLiabilitiesNoncurrent $731.00K USD Point-in-time
Accrued liabilities AccountsPayableAndAccruedLiabilitiesNoncurrent $757.00K USD Point-in-time
Long-term lease liabilities LeaseLiabilityNoncurrent $268.00K USD Point-in-time
Long-term lease liabilities LeaseLiabilityNoncurrent $232.00K USD Point-in-time
Long-term debt LongTermDebtNoncurrent $4.27M USD Point-in-time
Long-term debt LongTermDebtNoncurrent $4.31M USD Point-in-time
Total long-term liabilities LiabilitiesNoncurrent $5.33M USD Point-in-time
Total long-term liabilities LiabilitiesNoncurrent $5.23M USD Point-in-time
TOTAL LIABILITIES Liabilities $23.14M USD Point-in-time
TOTAL LIABILITIES Liabilities $22.96M USD Point-in-time
Commitments and Contingencies CommitmentsAndContingencies - USD Point-in-time
Commitments and Contingencies CommitmentsAndContingencies - USD Point-in-time
Common stock - No par value: unlimited authorized; 39,293,778 and 39,640,388 issued and outstanding as of March 31, 2022 and December 31, 2021, respectively CommonStockValue $14.01M USD Point-in-time
Common stock - No par value: unlimited authorized; 39,293,778 and 39,640,388 issued and outstanding as of March 31, 2022 and December 31, 2021, respectively CommonStockValue $14.35M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $8.72M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $7.75M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-115.00K USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-278.00K USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $73.33M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $73.09M USD Point-in-time
TOTAL SHAREHOLDERS' EQUITY StockholdersEquity $96.04M USD Point-in-time
TOTAL SHAREHOLDERS' EQUITY StockholdersEquity $81.69M USD Point-in-time
TOTAL SHAREHOLDERS' EQUITY StockholdersEquity $83.42M USD Point-in-time
TOTAL SHAREHOLDERS' EQUITY StockholdersEquity $94.82M USD Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY LiabilitiesAndStockholdersEquity $119.01M USD Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY LiabilitiesAndStockholdersEquity $117.96M USD Point-in-time
Income Statement 42 line items
Line Item Tag Value Unit Period
Revenue Revenues $32.26M USD 1 Quarter
Revenue Revenues $28.42M USD 1 Quarter
Cost of revenue CostOfGoodsAndServicesSold $10.67M USD 1 Quarter
Cost of revenue CostOfGoodsAndServicesSold $12.51M USD 1 Quarter
Gross profit GrossProfit $19.74M USD 1 Quarter
Gross profit GrossProfit $17.74M USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $14.51M USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $15.78M USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $632.00K USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $339.00K USD 1 Quarter
Stock-based compensation AllocatedShareBasedCompensationExpense $1.31M USD 1 Quarter
Stock-based compensation AllocatedShareBasedCompensationExpense $1.30M USD 1 Quarter
Depreciation DepreciationNonproduction $237.00K USD 1 Quarter
Depreciation DepreciationNonproduction $200.00K USD 1 Quarter
Other (income) expense OtherNonoperatingIncomeExpense $-55.00K USD 1 Quarter
Other (income) expense OtherNonoperatingIncomeExpense $455.00K USD 1 Quarter
Income from operations OperatingIncomeLoss $1.33M USD 1 Quarter
Income from operations OperatingIncomeLoss $2.25M USD 1 Quarter
Income from equity method investments IncomeLossFromEquityMethodInvestments $220.00K USD 1 Quarter
Income from equity method investments IncomeLossFromEquityMethodInvestments $323.00K USD 1 Quarter
Interest expense, net of interest income InterestIncomeExpenseNonoperatingNet $-91.00K USD 1 Quarter
Interest expense, net of interest income InterestIncomeExpenseNonoperatingNet $-64.00K USD 1 Quarter
Net income before taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $2.51M USD 1 Quarter
Net income before taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $1.46M USD 1 Quarter
Provision (benefit) for income taxes IncomeTaxExpenseBenefit $745.00K USD 1 Quarter
Provision (benefit) for income taxes IncomeTaxExpenseBenefit $-223.00K USD 1 Quarter
Net income NetIncomeLoss $1.76M USD 1 Quarter
Net income NetIncomeLoss $1.68M USD 1 Quarter
Change in unrealized gain/loss on derivative instruments, net of tax OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax $163.00K USD 1 Quarter
Change in unrealized gain/loss on derivative instruments, net of tax OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax $106.00K USD 1 Quarter
Other comprehensive income OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $163.00K USD 1 Quarter
Other comprehensive income OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $106.00K USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $1.93M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $1.79M USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $0.04 USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $0.04 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $0.04 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $0.04 USD 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 39.13M shares 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 39.62M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 40.66M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 40.36M shares 1 Quarter
Cash Flow Statement 74 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $1.76M USD 1 Quarter
Net income NetIncomeLoss $1.68M USD 1 Quarter
Depreciation Depreciation $3.40M USD 1 Quarter
Depreciation Depreciation $2.61M USD 1 Quarter
Change in allowance for doubtful accounts ProvisionForDoubtfulAccounts $1.82M USD 1 Quarter
Change in allowance for doubtful accounts ProvisionForDoubtfulAccounts $3.44M USD 1 Quarter
Change in inventory reserve InventoryLIFOReservePeriodCharge $-1.42M USD 1 Quarter
Change in inventory reserve InventoryLIFOReservePeriodCharge $-4.00K USD 1 Quarter
Share-based compensation ShareBasedCompensation $1.30M USD 1 Quarter
Share-based compensation ShareBasedCompensation $1.31M USD 1 Quarter
Distributions of earnings received from equity method investments EquityMethodInvestmentDividendsOrDistributions - USD 1 Quarter
Distributions of earnings received from equity method investments EquityMethodInvestmentDividendsOrDistributions $221.00K USD 1 Quarter
Income from equity method investments EquitySecuritiesFvNiRealizedGainLoss $220.00K USD 1 Quarter
Income from equity method investments EquitySecuritiesFvNiRealizedGainLoss $323.00K USD 1 Quarter
(Gain) Loss on disposal of property and equipment GainLossOnDispositionOfAssets $-76.00K USD 1 Quarter
(Gain) Loss on disposal of property and equipment GainLossOnDispositionOfAssets $14.00K USD 1 Quarter
Deferred income tax expense (benefit) DeferredIncomeTaxExpenseBenefit $-222.00K USD 1 Quarter
Deferred income tax expense (benefit) DeferredIncomeTaxExpenseBenefit $745.00K USD 1 Quarter
Increase in accounts receivable IncreaseDecreaseInAccountsReceivable $4.22M USD 1 Quarter
Increase in accounts receivable IncreaseDecreaseInAccountsReceivable $2.73M USD 1 Quarter
Decrease in inventory IncreaseDecreaseInInventories $-94.00K USD 1 Quarter
Decrease in inventory IncreaseDecreaseInInventories $-1.37M USD 1 Quarter
Increase in prepaid expenses and other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $161.00K USD 1 Quarter
Increase in prepaid expenses and other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $68.00K USD 1 Quarter
(Decrease) increase in trade payables IncreaseDecreaseInAccountsPayableTrade $-467.00K USD 1 Quarter
(Decrease) increase in trade payables IncreaseDecreaseInAccountsPayableTrade $438.00K USD 1 Quarter
Increase in deferred revenue IncreaseDecreaseInContractWithCustomerLiability $13.00K USD 1 Quarter
Increase in deferred revenue IncreaseDecreaseInContractWithCustomerLiability $135.00K USD 1 Quarter
Increase (decrease) in accrued liabilities IncreaseDecreaseInAccruedLiabilities $-77.00K USD 1 Quarter
Increase (decrease) in accrued liabilities IncreaseDecreaseInAccruedLiabilities $58.00K USD 1 Quarter
Change in income tax payable/receivable IncreaseDecreaseInAccruedIncomeTaxesPayable - USD 1 Quarter
Change in income tax payable/receivable IncreaseDecreaseInAccruedIncomeTaxesPayable $1.22M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $7.15M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $4.63M USD 1 Quarter
Purchase of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $3.96M USD 1 Quarter
Purchase of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $1.80M USD 1 Quarter
Investment in equity investments PaymentsToAcquireOtherProductiveAssets $100.00K USD 1 Quarter
Investment in equity investments PaymentsToAcquireOtherProductiveAssets - USD 1 Quarter
Proceeds from sale of property and equipment ProceedsFromSaleOfPropertyPlantAndEquipment $99.00K USD 1 Quarter
Proceeds from sale of property and equipment ProceedsFromSaleOfPropertyPlantAndEquipment $256.00K USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-1.70M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-3.81M USD 1 Quarter
Proceeds from exercise of options ProceedsFromStockOptionsExercised - USD 1 Quarter
Proceeds from exercise of options ProceedsFromStockOptionsExercised $65.00K USD 1 Quarter
Principal payments on notes payable RepaymentsOfOtherLongTermDebt $37.00K USD 1 Quarter
Principal payments on notes payable RepaymentsOfOtherLongTermDebt $39.00K USD 1 Quarter
Principal payments on term note RepaymentsOfSecuredDebt $414.00K USD 1 Quarter
Principal payments on term note RepaymentsOfSecuredDebt $433.00K USD 1 Quarter
Shares repurchased under the share repurchase program PaymentsForRepurchaseOfCommonStock $1.89M USD 1 Quarter
Shares repurchased under the share repurchase program PaymentsForRepurchaseOfCommonStock - USD 1 Quarter
Shares redeemed to pay income tax PaymentsRelatedToTaxWithholdingForShareBasedCompensation $119.00K USD 1 Quarter
Shares redeemed to pay income tax PaymentsRelatedToTaxWithholdingForShareBasedCompensation $1.43M USD 1 Quarter
Repayments of lease liabilities LeasePayments $21.00K USD 1 Quarter
Repayments of lease liabilities LeasePayments $994.00K USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-2.50M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-2.81M USD 1 Quarter
Net (decrease) increase in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $116.00K USD 1 Quarter
Net (decrease) increase in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $840.00K USD 1 Quarter
Cash and cash equivalents at beginning of year CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $28.41M USD Point-in-time
Cash and cash equivalents at beginning of year CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $31.10M USD Point-in-time
Cash and cash equivalents at beginning of year CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $30.98M USD Point-in-time
Cash and cash equivalents at beginning of year CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $29.25M USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $28.41M USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $31.10M USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $30.98M USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $29.25M USD Point-in-time
Cash paid during the period for interest InterestPaidNet $66.00K USD 1 Quarter
Cash paid during the period for interest InterestPaidNet $117.00K USD 1 Quarter
Refunds received during the period for income taxes IncomeTaxesPaidNet $1.22M USD 1 Quarter
Refunds received during the period for income taxes IncomeTaxesPaidNet - USD 1 Quarter
Net non-cash changes to finance leases NetNonCashChangesToFinanceLeaseBalances $12.00K USD 1 Quarter
Net non-cash changes to finance leases NetNonCashChangesToFinanceLeaseBalances - USD 1 Quarter
Net non-cash changes to operating leases NetNonCashChangesToOperatingLeaseBalances - USD 1 Quarter
Net non-cash changes to operating leases NetNonCashChangesToOperatingLeaseBalances $85.00K USD 1 Quarter
Stockholders Equity 25 line items
Line Item Tag Value Unit Period
Shareholders' equity, beginning balance (in shares) CommonStockSharesOutstanding 39.29M shares Point-in-time
Shareholders' equity, beginning balance StockholdersEquity $96.04M USD Point-in-time
Shareholders' equity, beginning balance StockholdersEquity $81.69M USD Point-in-time
Shareholders' equity, beginning balance StockholdersEquity $83.42M USD Point-in-time
Shareholders' equity, beginning balance StockholdersEquity $94.82M USD Point-in-time
Stock-based compensation - options AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition $820.00K USD 1 Quarter
Stock-based compensation - options AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition $1.08M USD 1 Quarter
Stock-based compensation - restricted stock AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition $485.00K USD 1 Quarter
Stock-based compensation - restricted stock AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition $229.00K USD 1 Quarter
Exercise of options (in shares) StockIssuedDuringPeriodSharesStockOptionsExercised 0.00 shares 1 Quarter
Exercise of options StockIssuedDuringPeriodValueStockOptionsExercised $65.00K USD 1 Quarter
Shares issued for vesting of restricted stock units StockIssuedDuringPeriodValueRestrictedStockAwardGross - USD 1 Quarter
Shares issued for vesting of restricted stock units StockIssuedDuringPeriodValueRestrictedStockAwardGross - USD 1 Quarter
Shares redeemed to pay income tax StockRepurchasedAndRetiredDuringPeriodValue $1.43M USD 1 Quarter
Shares redeemed to pay income tax StockRepurchasedAndRetiredDuringPeriodValue $119.00K USD 1 Quarter
Shares repurchased under the share repurchase program StockRepurchasedDuringPeriodValue $1.89M USD 1 Quarter
Change in accumulated other comprehensive loss, net of tax OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $163.00K USD 1 Quarter
Change in accumulated other comprehensive loss, net of tax OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $106.00K USD 1 Quarter
Net income NetIncomeLoss $1.76M USD 1 Quarter
Net income NetIncomeLoss $1.68M USD 1 Quarter
Shareholders' equity, ending balance (in shares) CommonStockSharesOutstanding 39.29M shares Point-in-time
Shareholders' equity, ending balance StockholdersEquity $96.04M USD Point-in-time
Shareholders' equity, ending balance StockholdersEquity $81.69M USD Point-in-time
Shareholders' equity, ending balance StockholdersEquity $83.42M USD Point-in-time
Shareholders' equity, ending balance StockholdersEquity $94.82M USD Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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