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10-Q Filing

VIEMED HEALTHCARE, INC. CIK: 1729149 Q1 2023
Filing Information
Form Type 10-Q
Accession Number 0001729149-23-000062
Period End Date 20230331
Filing Date 20230508
Fiscal Year 2023
Fiscal Period Q1
XBRL Instance vmd-20230331_htm.xml
Filing Contents
Balance Sheet 68 line items
Line Item Tag Value Unit Period
Allowance for doubtful accounts AllowanceForDoubtfulAccountsReceivableCurrent $8.48M USD Point-in-time
Allowance for doubtful accounts AllowanceForDoubtfulAccountsReceivableCurrent $8.48M USD Point-in-time
Allowance for doubtful accounts AllowanceForDoubtfulAccountsReceivableCurrent $11.04M USD Point-in-time
Allowance for doubtful accounts AllowanceForDoubtfulAccountsReceivableCurrent $7.03M USD Point-in-time
Issued (in shares) CommonStockSharesIssued 38.28M shares Point-in-time
Issued (in shares) CommonStockSharesIssued 38.05M shares Point-in-time
Outstanding (in shares) CommonStockSharesOutstanding 38.05M shares Point-in-time
Outstanding (in shares) CommonStockSharesOutstanding 38.28M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $23.54M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $16.91M USD Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $11,040 and $8,483 at March 31, 2023 and December 31, 2022, respectively AccountsReceivableNetCurrent $15.38M USD Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $11,040 and $8,483 at March 31, 2023 and December 31, 2022, respectively AccountsReceivableNetCurrent $16.32M USD Point-in-time
Inventory InventoryNet $3.57M USD Point-in-time
Inventory InventoryNet $3.45M USD Point-in-time
Income tax receivable IncomeTaxesReceivable - USD Point-in-time
Income tax receivable IncomeTaxesReceivable $26.00K USD Point-in-time
Prepaid expenses and other assets PrepaidExpenseAndOtherAssetsCurrent $3.85M USD Point-in-time
Prepaid expenses and other assets PrepaidExpenseAndOtherAssetsCurrent $3.39M USD Point-in-time
Total current assets AssetsCurrent $46.70M USD Point-in-time
Total current assets AssetsCurrent $39.74M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $68.44M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $68.44M USD Point-in-time
Equity investments Investments $1.99M USD Point-in-time
Equity investments Investments $2.15M USD Point-in-time
Debt investment DebtSecuritiesNoncurrent $2.00M USD Point-in-time
Debt investment DebtSecuritiesNoncurrent $2.06M USD Point-in-time
Deferred tax asset DeferredIncomeTaxAssetsNet $3.84M USD Point-in-time
Deferred tax asset DeferredIncomeTaxAssetsNet $3.12M USD Point-in-time
Other long-term assets OtherAssetsNoncurrent $1.60M USD Point-in-time
Other long-term assets OtherAssetsNoncurrent $1.59M USD Point-in-time
Total long-term assets AssetsNoncurrent $77.93M USD Point-in-time
Total long-term assets AssetsNoncurrent $77.30M USD Point-in-time
TOTAL ASSETS Assets $117.04M USD Point-in-time
TOTAL ASSETS Assets $124.63M USD Point-in-time
Trade payables AccountsPayableTradeCurrent $2.65M USD Point-in-time
Trade payables AccountsPayableTradeCurrent $4.26M USD Point-in-time
Deferred revenue ContractWithCustomerLiabilityCurrent $4.62M USD Point-in-time
Deferred revenue ContractWithCustomerLiabilityCurrent $4.70M USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent - USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $1.25M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $11.09M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $12.82M USD Point-in-time
Current portion of lease liabilities LeaseLiabilityCurrent $397.00K USD Point-in-time
Current portion of lease liabilities LeaseLiabilityCurrent $495.00K USD Point-in-time
Total current liabilities LiabilitiesCurrent $18.86M USD Point-in-time
Total current liabilities LiabilitiesCurrent $23.42M USD Point-in-time
Accrued liabilities AccountsPayableAndAccruedLiabilitiesNoncurrent $1.01M USD Point-in-time
Accrued liabilities AccountsPayableAndAccruedLiabilitiesNoncurrent $889.00K USD Point-in-time
Long-term lease liabilities LeaseLiabilityNoncurrent $199.00K USD Point-in-time
Long-term lease liabilities LeaseLiabilityNoncurrent $162.00K USD Point-in-time
Total long-term liabilities LiabilitiesNoncurrent $1.09M USD Point-in-time
Total long-term liabilities LiabilitiesNoncurrent $1.17M USD Point-in-time
TOTAL LIABILITIES Liabilities $24.59M USD Point-in-time
TOTAL LIABILITIES Liabilities $19.95M 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; 38,276,389 and 38,049,739 issued and outstanding as of March 31, 2023 and December 31, 2022, respectively CommonStockValue $17.10M USD Point-in-time
Common stock - No par value: unlimited authorized; 38,276,389 and 38,049,739 issued and outstanding as of March 31, 2023 and December 31, 2022, respectively CommonStockValue $15.12M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $12.09M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $12.12M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $70.86M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $69.85M USD Point-in-time
TOTAL SHAREHOLDERS' EQUITY StockholdersEquity $97.09M USD Point-in-time
TOTAL SHAREHOLDERS' EQUITY StockholdersEquity $94.82M USD Point-in-time
TOTAL SHAREHOLDERS' EQUITY StockholdersEquity $96.04M USD Point-in-time
TOTAL SHAREHOLDERS' EQUITY StockholdersEquity $100.04M USD Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY LiabilitiesAndStockholdersEquity $117.04M USD Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY LiabilitiesAndStockholdersEquity $124.63M USD Point-in-time
Income Statement 44 line items
Line Item Tag Value Unit Period
Revenue Revenues $32.26M USD 1 Quarter
Revenue Revenues $39.56M USD 1 Quarter
Cost of revenue CostOfGoodsAndServicesSold $15.55M USD 1 Quarter
Cost of revenue CostOfGoodsAndServicesSold $12.51M USD 1 Quarter
Gross profit GrossProfit $19.74M USD 1 Quarter
Gross profit GrossProfit $24.00M USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $19.76M USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $15.78M USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $780.00K USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $632.00K USD 1 Quarter
Stock-based compensation AllocatedShareBasedCompensationExpense $1.39M USD 1 Quarter
Stock-based compensation AllocatedShareBasedCompensationExpense $1.30M USD 1 Quarter
Depreciation DepreciationNonproduction $240.00K USD 1 Quarter
Depreciation DepreciationNonproduction $237.00K USD 1 Quarter
Gain on disposal of property and equipment GainLossOnDispositionOfAssets $22.00K USD 1 Quarter
Gain on disposal of property and equipment GainLossOnDispositionOfAssets $14.00K USD 1 Quarter
Other (income) expense, net OtherNonoperatingIncomeExpense $81.00K USD 1 Quarter
Other (income) expense, net OtherNonoperatingIncomeExpense $441.00K USD 1 Quarter
Income from operations OperatingIncomeLoss $1.93M USD 1 Quarter
Income from operations OperatingIncomeLoss $2.25M USD 1 Quarter
Income from equity method investments IncomeLossFromEquityMethodInvestments $323.00K USD 1 Quarter
Income from equity method investments IncomeLossFromEquityMethodInvestments $35.00K USD 1 Quarter
Interest (income) expense, net InterestIncomeExpenseNonoperatingNet $-64.00K USD 1 Quarter
Interest (income) expense, net InterestIncomeExpenseNonoperatingNet $49.00K USD 1 Quarter
Net income before taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $2.51M USD 1 Quarter
Net income before taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $2.02M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $501.00K USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $745.00K USD 1 Quarter
Net income NetIncomeLoss $1.52M USD 1 Quarter
Net income NetIncomeLoss $1.76M 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 - USD 1 Quarter
Other comprehensive income OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $163.00K USD 1 Quarter
Other comprehensive income OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent - USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $1.93M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $1.52M 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 38.16M shares 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 39.62M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 40.36M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 40.02M shares 1 Quarter
Cash Flow Statement 72 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $1.52M USD 1 Quarter
Net income NetIncomeLoss $1.76M USD 1 Quarter
Depreciation Depreciation $4.76M USD 1 Quarter
Depreciation Depreciation $3.40M USD 1 Quarter
Provision for uncollectible accounts ProvisionForDoubtfulAccounts $4.13M USD 1 Quarter
Provision for uncollectible accounts ProvisionForDoubtfulAccounts $3.44M USD 1 Quarter
Change in inventory reserve InventoryLIFOReservePeriodCharge - USD 1 Quarter
Change in inventory reserve InventoryLIFOReservePeriodCharge $-1.42M USD 1 Quarter
Stock-based compensation expense ShareBasedCompensation $1.39M USD 1 Quarter
Stock-based compensation expense ShareBasedCompensation $1.30M USD 1 Quarter
Distributions of earnings received from equity method investments EquityMethodInvestmentDividendsOrDistributions $221.00K USD 1 Quarter
Distributions of earnings received from equity method investments EquityMethodInvestmentDividendsOrDistributions $196.00K USD 1 Quarter
Income from equity method investments EquitySecuritiesFvNiRealizedGainLoss $323.00K USD 1 Quarter
Income from equity method investments EquitySecuritiesFvNiRealizedGainLoss $35.00K USD 1 Quarter
Income from debt investment DebtSecuritiesGainLoss $57.00K USD 1 Quarter
Income from debt investment DebtSecuritiesGainLoss - USD 1 Quarter
Gain on disposal of property and equipment GainLossOnDispositionOfAssets $22.00K USD 1 Quarter
Gain on disposal of property and equipment GainLossOnDispositionOfAssets $14.00K USD 1 Quarter
Deferred income tax (benefit) expense DeferredIncomeTaxExpenseBenefit $745.00K USD 1 Quarter
Deferred income tax (benefit) expense DeferredIncomeTaxExpenseBenefit $-725.00K USD 1 Quarter
Increase in accounts receivable IncreaseDecreaseInAccountsReceivable $5.07M USD 1 Quarter
Increase in accounts receivable IncreaseDecreaseInAccountsReceivable $4.22M USD 1 Quarter
Decrease in inventory IncreaseDecreaseInInventories $-127.00K USD 1 Quarter
Decrease in inventory IncreaseDecreaseInInventories $-1.37M USD 1 Quarter
Decrease (increase) in prepaid expenses and other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $68.00K USD 1 Quarter
Decrease (increase) in prepaid expenses and other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $-449.00K USD 1 Quarter
Increase (decrease) in trade payables IncreaseDecreaseInAccountsPayableTrade $641.00K USD 1 Quarter
Increase (decrease) in trade payables IncreaseDecreaseInAccountsPayableTrade $-467.00K USD 1 Quarter
Increase in deferred revenue IncreaseDecreaseInContractWithCustomerLiability $74.00K USD 1 Quarter
Increase in deferred revenue IncreaseDecreaseInContractWithCustomerLiability $135.00K USD 1 Quarter
Increase in accrued liabilities IncreaseDecreaseInAccruedLiabilities $1.85M USD 1 Quarter
Increase in accrued liabilities IncreaseDecreaseInAccruedLiabilities $58.00K USD 1 Quarter
Change in income tax payable/receivable IncreaseDecreaseInAccruedIncomeTaxesPayable $1.27M USD 1 Quarter
Change in income tax payable/receivable IncreaseDecreaseInAccruedIncomeTaxesPayable $1.22M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $10.50M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $7.15M USD 1 Quarter
Purchase of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $4.68M USD 1 Quarter
Purchase of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $3.96M USD 1 Quarter
Investment in equity investments PaymentsToAcquireOtherProductiveAssets - USD 1 Quarter
Investment in equity investments PaymentsToAcquireOtherProductiveAssets $100.00K USD 1 Quarter
Proceeds from sale of property and equipment ProceedsFromSaleOfPropertyPlantAndEquipment $256.00K USD 1 Quarter
Proceeds from sale of property and equipment ProceedsFromSaleOfPropertyPlantAndEquipment $776.00K USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-3.90M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-3.81M USD 1 Quarter
Proceeds from exercise of options ProceedsFromStockOptionsExercised $544.00K USD 1 Quarter
Proceeds from exercise of options ProceedsFromStockOptionsExercised - USD 1 Quarter
Principal payments on notes payable RepaymentsOfOtherLongTermDebt $39.00K USD 1 Quarter
Principal payments on notes payable RepaymentsOfOtherLongTermDebt - USD 1 Quarter
Principal payments on term note RepaymentsOfSecuredDebt - USD 1 Quarter
Principal payments on term note RepaymentsOfSecuredDebt $433.00K USD 1 Quarter
Shares repurchased under the share repurchase program PaymentsForRepurchaseOfCommonStock - USD 1 Quarter
Shares repurchased under the share repurchase program PaymentsForRepurchaseOfCommonStock $1.89M USD 1 Quarter
Shares redeemed to pay income tax PaymentsRelatedToTaxWithholdingForShareBasedCompensation $505.00K USD 1 Quarter
Shares redeemed to pay income tax PaymentsRelatedToTaxWithholdingForShareBasedCompensation $119.00K USD 1 Quarter
Repayments of lease liabilities LeasePayments - USD 1 Quarter
Repayments of lease liabilities LeasePayments $21.00K USD 1 Quarter
Net cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $39.00K USD 1 Quarter
Net cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $-2.50M USD 1 Quarter
Net increase in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $840.00K USD 1 Quarter
Net increase in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $6.63M USD 1 Quarter
Cash and cash equivalents at beginning of year CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $29.25M USD Point-in-time
Cash and cash equivalents at beginning of year CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $28.41M USD Point-in-time
Cash and cash equivalents at beginning of year CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $16.91M USD Point-in-time
Cash and cash equivalents at beginning of year CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $23.54M USD Point-in-time
Cash and cash equivalents at end of period 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 $16.91M USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $23.54M 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 $42.00K USD 1 Quarter
Cash (received) paid during the period for income taxes, net of refunds IncomeTaxesPaidNet $1.22M USD 1 Quarter
Cash (received) paid during the period for income taxes, net of refunds IncomeTaxesPaidNet $-40.00K USD 1 Quarter
Stockholders Equity 27 line items
Line Item Tag Value Unit Period
Shareholders' equity, beginning balance (in shares) CommonStockSharesOutstanding 38.05M shares Point-in-time
Shareholders' equity, beginning balance (in shares) CommonStockSharesOutstanding 38.28M shares Point-in-time
Shareholders' equity, beginning balance StockholdersEquity $97.09M USD Point-in-time
Shareholders' equity, beginning balance StockholdersEquity $94.82M USD Point-in-time
Shareholders' equity, beginning balance StockholdersEquity $96.04M USD Point-in-time
Shareholders' equity, beginning balance StockholdersEquity $100.04M USD Point-in-time
Stock-based compensation - options AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition $348.00K USD 1 Quarter
Stock-based compensation - options AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition $820.00K USD 1 Quarter
Stock-based compensation - restricted stock AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition $1.04M USD 1 Quarter
Stock-based compensation - restricted stock AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition $485.00K USD 1 Quarter
Exercise of options (in shares) StockIssuedDuringPeriodSharesStockOptionsExercised 108,000.00 shares 1 Quarter
Exercise of options StockIssuedDuringPeriodValueStockOptionsExercised $544.00K 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 AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation $505.00K USD 1 Quarter
Shares redeemed to pay income tax AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation $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 - USD 1 Quarter
Net income NetIncomeLoss $1.52M USD 1 Quarter
Net income NetIncomeLoss $1.76M USD 1 Quarter
Shareholders' equity, ending balance (in shares) CommonStockSharesOutstanding 38.05M shares Point-in-time
Shareholders' equity, ending balance (in shares) CommonStockSharesOutstanding 38.28M shares Point-in-time
Shareholders' equity, ending balance StockholdersEquity $97.09M USD Point-in-time
Shareholders' equity, ending balance StockholdersEquity $94.82M USD Point-in-time
Shareholders' equity, ending balance StockholdersEquity $96.04M USD Point-in-time
Shareholders' equity, ending balance StockholdersEquity $100.04M USD Point-in-time

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

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