InfuSystem Holdings, Inc. (INFU) Bundle
A Brief History of InfuSystem Holdings, Inc.
Company Overview
InfuSystem Holdings, Inc. is a leading provider of infusion therapy services and medical equipment rental solutions. The company primarily operates through two segments: Patient Services and Device Solutions, serving a diverse range of healthcare providers.
Financial Performance
As of September 30, 2024, InfuSystem reported net revenues of $101.0 million for the nine-month period, reflecting an increase of $7.0 million, or 7.4%, compared to $94.0 million for the same period in 2023. This growth was driven by both segments:
- Patient Services achieved net revenues of $59.6 million, a rise of $2.2 million, or 3.9%.
- Device Solutions generated net revenues of $41.4 million, up $4.8 million, or 13.0%.
Gross Profit and Margins
For the nine-month period ended September 30, 2024, InfuSystem reported a gross profit of $52.2 million, which is an increase of $5.8 million, or 12.5%, from $46.4 million in the same period of 2023. The overall gross margin improved to 51.7% from 49.4%.
Segment Performance
| Segment | Net Revenue (2024) | Net Revenue (2023) | Gross Profit (2024) | Gross Profit (2023) |
|---|---|---|---|---|
| Patient Services | $59.6 million | $57.4 million | $39.4 million | $35.2 million |
| Device Solutions | $41.4 million | $36.6 million | $12.8 million | $11.2 million |
Expenses
Selling and marketing expenses for the nine-month period of 2024 totaled $9.2 million, which is a slight increase of 2.6% from the prior year. General and administrative expenses rose to $38.0 million, up 12.1% from $33.9 million in 2023.
Net Income
InfuSystem reported net income of $1.4 million for the nine-month period ended September 30, 2024, compared to $800,000 for the same period in 2023. This translates to a net income per share of $0.07 for basic and diluted shares.
Stock Performance
As of September 30, 2024, the weighted average shares outstanding were 21,271,858 for basic shares and 21,707,835 for diluted shares. The company has also engaged in share repurchase programs, repurchasing approximately $1.0 million worth of stock during the nine-month period.
Cash Flow
| Cash Flow Activity | 2024 (in thousands) | 2023 (in thousands) |
|---|---|---|
| Net cash provided by operating activities | $12,528 | $6,565 |
| Net cash used in investing activities | $(9,970) | $(5,690) |
| Net cash used in financing activities | $(2,409) | $(879) |
Conclusion
InfuSystem Holdings, Inc. continues to demonstrate solid revenue growth and improved profitability metrics as of 2024, positioning itself effectively within the healthcare services market.
A Who Owns InfuSystem Holdings, Inc. (INFU)
Shareholder Composition
As of 2024, the ownership structure of InfuSystem Holdings, Inc. (INFU) is characterized by a mix of institutional and retail investors. The following table summarizes the major shareholders and their respective ownership percentages:
| Shareholder Type | Shareholder Name | Shares Owned | Ownership Percentage |
|---|---|---|---|
| Institutional Investor | BlackRock, Inc. | 2,350,000 | 11.0% |
| Institutional Investor | Vanguard Group, Inc. | 2,100,000 | 9.9% |
| Institutional Investor | Dimensional Fund Advisors LP | 1,800,000 | 8.5% |
| Institutional Investor | State Street Corporation | 1,600,000 | 7.5% |
| Retail Investor | Top 10 Individual Shareholders | 3,000,000 | 14.1% |
| Other Investors | Others | 10,000,000 | 47.0% |
Recent Stock Performance
As of September 30, 2024, InfuSystem Holdings, Inc. reported a stock price of $8.50 per share. The company has seen a stock price increase of approximately 15% year-to-date. The market capitalization is currently estimated at $180 million based on 21 million shares outstanding.
Ownership Changes
Over the past year, the ownership landscape has shifted slightly, with institutional investors increasing their stake by approximately 5%. The following table provides insights into the changes in institutional ownership:
| Institution | Ownership 2023 | Ownership 2024 | Change (%) |
|---|---|---|---|
| BlackRock, Inc. | 10.5% | 11.0% | +0.5% |
| Vanguard Group, Inc. | 9.7% | 9.9% | +0.2% |
| Dimensional Fund Advisors LP | 8.2% | 8.5% | +0.3% |
| State Street Corporation | 7.3% | 7.5% | +0.2% |
Financial Overview
For the nine-month period ending September 30, 2024, InfuSystem Holdings, Inc. reported net revenues of $101 million, a 7.4% increase from $94 million in the same period in 2023. The net income for the same period was reported at $1.4 million, compared to $800,000 in the previous year.
Market Position and Future Outlook
InfuSystem Holdings, Inc. continues to hold a strong position in the medical equipment rental market, particularly in oncology and pain management. The company has implemented a share repurchase program, which was approved on May 16, 2024, allowing for the repurchase of up to $20 million in shares through June 30, 2026. This strategy reflects management's confidence in the company's future growth potential.
InfuSystem Holdings, Inc. (INFU) Mission Statement
Company Overview
InfuSystem Holdings, Inc. (INFU) provides infusion therapy services and medical devices for the healthcare industry. The company primarily operates in two segments: Patient Services and Device Solutions.
Mission Statement
As of 2024, InfuSystem Holdings, Inc. aims to deliver high-quality, cost-effective infusion therapy solutions and medical devices, enhancing patient care while ensuring operational excellence. The company focuses on patient-centric services, innovative technology, and improving healthcare outcomes.
Financial Performance
For the nine-month period ended September 30, 2024, InfuSystem reported the following financial metrics:
| Metric | 2024 Amount (in thousands) | 2023 Amount (in thousands) | Change |
|---|---|---|---|
| Net Revenues | $101,013 | $94,014 | +7.4% |
| Gross Profit | $52,187 | $46,398 | +12.5% |
| Net Income | $1,412 | $800 | +76.5% |
| Basic Net Income per Share | $0.07 | $0.04 | +75% |
| Weighted Average Shares Outstanding (Basic) | 21,271,858 | 20,968,711 | +303,147 |
Segment Performance
The company’s operations are divided into two main segments: Patient Services and Device Solutions, each contributing to the overall revenue growth.
Patient Services
For the nine-month period ended September 30, 2024, Patient Services reported:
| Metric | 2024 Amount (in thousands) | 2023 Amount (in thousands) | Change |
|---|---|---|---|
| Net Revenue | $59,617 | $57,382 | +3.9% |
| Gross Profit | $39,428 | $35,223 | +11.9% |
Device Solutions
For the same period, Device Solutions reported:
| Metric | 2024 Amount (in thousands) | 2023 Amount (in thousands) | Change |
|---|---|---|---|
| Net Revenue | $41,396 | $36,632 | +13.0% |
| Gross Profit | $12,759 | $11,175 | +14.2% |
Operational Highlights
InfuSystem’s operational efficiency is reflected in its gross margins, which improved during the reported periods:
- Gross Margin for Patient Services: Increased to 66.1% in 2024 from 61.4% in 2023.
- Gross Margin for Device Solutions: Improved to 30.8% in 2024 from 30.5% in 2023.
General and Administrative Expenses
For the nine-month period ended September 30, 2024, general and administrative expenses were:
| Metric | 2024 Amount (in thousands) | 2023 Amount (in thousands) | Change |
|---|---|---|---|
| General and Administrative Expenses | $38,000 | $33,880 | +12.1% |
Cash Flow Summary
InfuSystem’s cash flow for the nine-month period ended September 30, 2024 was as follows:
| Cash Flow Activity | 2024 Amount (in thousands) | 2023 Amount (in thousands) |
|---|---|---|
| Net Cash Provided by Operating Activities | $12,528 | $6,565 |
| Net Cash Used in Investing Activities | ($9,970) | ($5,690) |
| Net Cash Used in Financing Activities | ($2,409) | ($879) |
Share Repurchase Program
As of September 30, 2024, InfuSystem had repurchased approximately $1.0 million, or 149,670 shares, under its Share Repurchase Program. The company has authorization to repurchase up to $20.0 million of its common stock through June 30, 2026.
How InfuSystem Holdings, Inc. (INFU) Works
Business Overview
InfuSystem Holdings, Inc. operates primarily in the healthcare sector, providing infusion therapy services and medical equipment. The company is structured into two main segments: Patient Services and Device Solutions.
Financial Performance
For the nine-month period ending September 30, 2024, InfuSystem reported net revenues of $101.0 million, reflecting a 7.4% increase compared to $94.0 million in the same period of 2023. This growth was driven by both segments:
| Segment | 2024 Net Revenue (in millions) | 2023 Net Revenue (in millions) | Change (in millions) | Percentage Change |
|---|---|---|---|---|
| Patient Services | $59.6 | $57.4 | $2.2 | 3.9% |
| Device Solutions | $41.4 | $36.6 | $4.8 | 13.0% |
Gross Profit Analysis
Gross profit for the nine-month period of 2024 was $52.2 million, a significant increase of 12.5% from $46.4 million in 2023. The gross margin improved to 51.7% from 49.4% in the prior year.
Segment Performance
Within the segments, the gross profit contributions were:
| Segment | 2024 Gross Profit (in millions) | 2023 Gross Profit (in millions) | Change (in millions) |
|---|---|---|---|
| Patient Services | $39.4 | $35.2 | $4.2 |
| Device Solutions | $12.8 | $11.2 | $1.6 |
Expenses
Selling and marketing expenses for the nine-month period of 2024 totaled $9.2 million, a slight increase of 2.6% from $8.9 million in 2023. General and administrative expenses rose to $38.0 million, up 12.1% from $34.0 million in the previous year.
Net Income
Net income for the nine-month period ending September 30, 2024, was reported at $1.4 million, compared to $800,000 in the same period of 2023. This translates to a net income per share of $0.07 for basic and diluted shares.
| Metric | 2024 | 2023 |
|---|---|---|
| Net Income (in millions) | $1.4 | $0.8 |
| Net Income per Share (basic) | $0.07 | $0.04 |
Cash Flow
Operating cash flows for the nine-month period of 2024 were $12.5 million, compared to $6.6 million in 2023. The cash used in investing activities was $9.9 million, while financing activities used $2.4 million.
| Cash Flow Activity | 2024 (in millions) | 2023 (in millions) |
|---|---|---|
| Net Cash Provided by Operating Activities | $12.5 | $6.6 |
| Net Cash Used in Investing Activities | ($9.9) | ($5.7) |
| Net Cash Used in Financing Activities | ($2.4) | ($0.9) |
Assets and Liabilities
As of September 30, 2024, total assets amounted to $105.3 million, while total liabilities were $49.8 million. The current ratio stands at approximately 1.98.
| Item | Amount (in millions) |
|---|---|
| Total Assets | $105.3 |
| Total Liabilities | $49.8 |
Shareholder Equity
Stockholders' equity was reported at $55.5 million as of September 30, 2024, reflecting a stable capital structure.
How InfuSystem Holdings, Inc. (INFU) Makes Money
Revenue Segments
InfuSystem Holdings, Inc. generates revenue from two primary segments: Patient Services and Device Solutions.
Patient Services
The Patient Services segment reported net revenues of $59.6 million for the nine-month period ended September 30, 2024, which represents an increase of $2.2 million, or 3.9%, compared to the same period in 2023. The net revenue for the third quarter of 2024 was $20.8 million, up $1.5 million, or 7.7%, compared to the prior year.
| Revenue Source | Q3 2024 Revenue | Q3 2023 Revenue | Change | Percentage Change |
|---|---|---|---|---|
| Direct Products | $685,000 | $570,000 | $115,000 | 20.2% |
| Third-Party Payer Products | $3,917,000 | $3,425,000 | $492,000 | 14.4% |
| Direct Rental Services | $1,923,000 | $1,840,000 | $83,000 | 4.5% |
| Third-Party Payer Rental Services | $12,277,000 | $11,003,000 | $1,274,000 | 11.6% |
| Total Patient Services | $20,780,000 | $19,289,000 | $1,491,000 | 7.7% |
Device Solutions
The Device Solutions segment recorded net revenues of $41.4 million for the nine-month period ended September 30, 2024, a 13.0% increase compared to the same prior year period. The third quarter of 2024 saw net revenues of $14.5 million, reflecting a 15.2% increase year-over-year.
| Revenue Source | Q3 2024 Revenue | Q3 2023 Revenue | Change | Percentage Change |
|---|---|---|---|---|
| Medical Equipment Sales | $4,731,000 | $3,593,000 | $1,138,000 | 31.7% |
| Biomedical Services | $2,575,000 | $2,573,000 | $2,000 | 0.1% |
| Rental Revenue | $7,442,000 | $6,408,000 | $1,034,000 | 16.1% |
| Total Device Solutions | $14,540,000 | $12,620,000 | $1,920,000 | 15.2% |
Gross Profit Analysis
For the nine-month period ending September 30, 2024, the gross profit was $52.2 million, an increase of 12.5% from $46.4 million in the same period of 2023. The gross margin improved to 51.7% from 49.4%.
| Segment | Q3 2024 Gross Profit | Q3 2023 Gross Profit | Change | Gross Margin |
|---|---|---|---|---|
| Patient Services | $39,428,000 | $35,223,000 | $4,205,000 | 66.1% |
| Device Solutions | $12,759,000 | $11,175,000 | $1,584,000 | 30.8% |
| Total Gross Profit | $52,187,000 | $46,398,000 | $5,789,000 | 51.7% |
Operating Expenses
Selling, general, and administrative expenses for the nine-month period of 2024 totaled $47.9 million, an increase of $4.4 million, or 10.1%, from $43.6 million in 2023. The operating income for the same period was $4.3 million, compared to $2.8 million in the prior year.
Net Income
Net income for the nine-month period ended September 30, 2024, was $1.4 million, reflecting an increase from $800,000 in the same period of 2023. The net income per share was $0.07 for basic and diluted shares.
| Period | Net Income | Net Income Per Share (Basic) | Net Income Per Share (Diluted) |
|---|---|---|---|
| Q3 2024 | $1,807,000 | $0.08 | $0.08 |
| Q3 2023 | $689,000 | $0.03 | $0.03 |
Cash Flow from Operations
Cash provided by operating activities for the nine-month period of 2024 was $12.5 million, compared to $6.6 million in the prior year. The increase in cash flow was attributed to higher revenue and improved working capital management.
Conclusion
InfuSystem Holdings, Inc. continues to enhance its revenue streams through strategic growth in both its Patient Services and Device Solutions segments, while maintaining a focus on improving gross margins and operational efficiency.
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Resources:
- InfuSystem Holdings, Inc. (INFU) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of InfuSystem Holdings, Inc. (INFU)' financial performance, including balance sheets, income statements, and cash flow statements.
- SEC Filings – View InfuSystem Holdings, Inc. (INFU)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.