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Viemed Healthcare Announces 2022 Financial Results $VMD and my thoughts
Net revenues attributable to the Company's core business for the quarter ended December 31, 2022 were $37.5 million.
Total net revenues for the year ended December 31, 2022 were $138.8 million.
Net income for the quarter and year ended December 31, 2022 totaled $2.4 million and $6.2 million.
The Company had a cash balance of $16.9 million at December 31, 2022.
During the year ended December 31, 2022, the Company repurchased and cancelled 1,794,163 common shares under the share repurchase program at a cost of $9.6 million, representing an average buyback price of $5.33 per share ( which is about what my average price is ).
“Our favorable resolution of the OIG matter, debt free balance sheet, and access to $90 million of additional liquidity through new credit facilities have us in an incredibly strong position to capitalize on the positive trends in our industry," said Casey Hoyt, Viemed's CEO.
Overall good quarter and I’m not really sure why the stock was doing range of negative 10-15% except that due to valuation ran up (which also understandable ish)
Most of OIG matters are behind as the company kept saying, no debt BUT ALSO their move into staffing and lack of progress in VA , not favorable .
Company says staffing is a way of getting into VA which may or may not be true but it’s definitely not as steady and “easy” income as ventilators that are billed via insurance.
If you recall from my write up my buy was around 3-5 and sell around 8-10 range unless progress would be made with VA or other ventures ( but not staffing)
I will be monitoring moving forward with potentially selling half around 9-11 range + call options.
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