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INFUSYSTEM HOLDINGS, INC.

NYSE AMERICAN: INFU

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Company: InfuSystem Holdings, Inc.
Ticker: NYSE American: INFU
Sector: Healthcare
Investor Contact: Joe Dorame
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InfuSystem Holdings Inc. Financials

Financials – Current & Historical

CONSOLIDATED BALANCE SHEETS
v3.25.0.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 527 $ 231
Accounts receivable, net 21,155 19,830
Inventories, net 6,528 6,402
Other current assets 3,955 4,157
Total current assets 32,165 30,620
Medical equipment for sale or rental 3,157 3,049
Medical equipment in rental service, net of accumulated depreciation 39,175 34,928
Property & equipment, net of accumulated depreciation 4,030 4,321
Goodwill 3,710 3,710
Intangible assets, net 6,456 7,446
Operating lease right of use assets 5,374 6,703
Deferred income taxes 7,188 9,115
Derivative financial instruments 1,481 1,442
Other assets 878 1,581
Total assets 103,614 102,915
Current liabilities:    
Accounts payable 9,848 8,009
Other current liabilities 7,813 7,704
Total current liabilities 17,661 15,713
Long-term debt, net of current portion 23,864 29,101
Operating lease liabilities, net of current portion 4,560 5,799
Total liabilities 46,085 50,613
Stockholders’ equity:    
Preferred stock, $0.0001 par value: authorized 1,000,000 shares; none issued 0 0
Common stock, $0.0001 par value: authorized 200,000,000 shares; 21,272,351 shares issued and outstanding as of December 31, 2024 and 21,196,851 shares issued and outstanding as of December 31, 2023 2 2
Additional paid-in capital 113,868 109,837
Accumulated other comprehensive income 1,119 1,088
Retained deficit (57,460) (58,625)
Total stockholders’ equity 57,529 52,302
Total liabilities and stockholders’ equity $ 103,614 $ 102,915
CONSOLIDATED BALANCE SHEETS (PARENTHETICAL)
v3.25.0.1
Consolidated Balance Sheets (Parenthetical) - $ / shares
Dec. 31, 2024
Dec. 31, 2023
Statement of Financial Position [Abstract]    
Preferred stock, par value (usd per share) $ 0.0001 $ 0.0001
Preferred stock, authorized (in shares) 1,000,000 1,000,000
Preferred stock, issued (in shares) 0 0
Common stock, par value (usd per share) $ 0.0001 $ 0.0001
Common stock,, authorized (in shares) 200,000,000 200,000,000
Common stock, issued (in shares) 21,272,351 21,196,851
Common stock, outstanding (in shares) 21,272,351 21,196,851
CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
v3.25.0.1
Consolidated Statements of Operations and Comprehensive Income - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Income Statement [Abstract]    
Net revenues $ 134,861 $ 125,785
Cost of revenues 64,458 62,676
Gross profit 70,403 63,109
Selling, general and administrative expenses:    
Amortization of intangibles 991 990
Selling and marketing 11,312 12,654
General and administrative 51,209 45,377
Total selling, general and administrative 63,512 59,021
Operating income 6,891 4,088
Other expense:    
Interest expense (1,777) (2,170)
Other expense (55) (67)
Income before income taxes 5,059 1,851
Provision for income taxes (2,714) (979)
Net income $ 2,345 $ 872
Net income per share    
Basic (in dollars per share) $ 0.11 $ 0.04
Diluted (in dollars per share) $ 0.11 $ 0.04
Weighted average shares outstanding:    
Basic (in shares) 21,271,608 21,024,382
Diluted (in shares) 21,707,151 21,646,079
Comprehensive income:    
Net income $ 2,345 $ 872
Other comprehensive income (loss):    
Unrealized gain (loss) on hedges 40 (523)
(Provision for) benefit from income tax on unrealized hedge gain (loss) (9) 122
Other comprehensive income (loss) 31 (401)
Net comprehensive income $ 2,376 $ 471
CONSOLIDATED STATEMENTS OF CASH FLOWS
v3.25.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
OPERATING ACTIVITIES    
Net income $ 2,345 $ 872
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for doubtful accounts (167) (261)
Depreciation 11,508 11,518
Loss on disposal of and reserve adjustments for medical equipment 942 1,726
Gain on sale of medical equipment (2,268) (2,887)
Amortization of intangible assets 991 990
Amortization of deferred debt issuance costs 78 120
Stock-based compensation 4,460 4,074
Deferred income taxes 1,918 633
Changes in assets - (increase)/decrease:    
Accounts receivable (701) (2,363)
Inventories (126) (1,581)
Other current assets 202 (1,235)
Other assets 1,953 (2,798)
Changes in liabilities - (decrease)/increase:    
Accounts payable and other liabilities (676) 2,415
NET CASH PROVIDED BY OPERATING ACTIVITIES 20,459 11,223
INVESTING ACTIVITIES    
Purchase of medical equipment (16,741) (10,093)
Purchase of property and equipment (1,092) (1,024)
Proceeds from sale of medical equipment, property and equipment 4,594 4,383
NET CASH USED IN INVESTING ACTIVITIES (13,239) (6,734)
FINANCING ACTIVITIES    
Principal payments on long-term debt (56,113) (55,499)
Cash proceeds from long-term debt 50,798 51,552
Debt issuance costs 0 (229)
Common stock repurchased as part of share repurchase program (1,180) (153)
Common stock repurchased to satisfy statutory withholding on employee stock-based compensation plans (816) (1,158)
Cash proceeds from exercise of options and ESPP 387 1,064
NET CASH USED IN FINANCING ACTIVITIES (6,924) (4,423)
Net change in cash and cash equivalents 296 66
Cash and cash equivalents, beginning of period 231 165
Cash and cash equivalents, end of period 527 231
SUPPLEMENTAL DISCLOSURES    
Cash paid for interest 1,749 2,052
Cash paid for income taxes 753 213
NON-CASH TRANSACTIONS    
Additions to medical equipment and property [1] $ 1,383 $ 249
[1] Amounts consist of current liabilities for medical equipment and property that have not been included in investing activities. These amounts have not been paid for as of December 31, 2024 and 2023, respectively, but will be included as a cash outflow from investing activities for purchases of medical equipment and property when paid.

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