Viemed Reports 28% Q1 Revenue Gain to $75.4M, Narrows 2026 Guidance
Viemed reported Q1 net revenues of $75.4 million, up 28% year-over-year, net income of $2.6 million and adjusted EBITDA of $14.3 million, a 12% increase. The company narrowed 2026 revenue guidance to $312 million–$320 million, reaffirmed $65 million–$69 million EBITDA guidance, with net capex trimmed to 9%–10.5% of revenue.
1. Quarter Financial Performance
Viemed generated net revenues of $75.4 million in Q1 2026, a 28% increase over Q1 2025, with net income attributable to the company of $2.6 million, or $0.06 per diluted share. Adjusted EBITDA rose 12% to $14.3 million, while operating cash flow reached $8.1 million for the quarter.
2. Patient Growth Highlights
Ventilator patient count totaled 12,089 as of March 31, 2026, up 2% year-over-year. PAP therapy patients increased 57% to 35,938, and sleep resupply patients rose 47% to 33,661, though sleep resupply saw an 8% sequential decline from Q4 2025.
3. 2026 Guidance Update
The company narrowed its full-year 2026 net revenue outlook to $312 million–$320 million from $310 million–$320 million and reaffirmed adjusted EBITDA guidance of $65 million–$69 million. Net capital expenditures are projected at 9%–10.5% of revenue, reflecting a shift toward less capital-intensive service lines.