VIEMED HEALTHCARE INC
For the period ended Sep 30, 2024. Filed Nov 6, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 6, 2024
VMD$8.98+0.3%Stored close · as of Nov 10, 2026
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Condensed Consolidated Statements of Cash Flows
VIEMED HEALTHCARE, INC.CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Expressed in thousands of U.S. Dollars)(Unaudited)
| Nine Months Ended September 30, | |||
|---|---|---|---|
| Note | 2024 | 2023 | |
| Cash flows from operating activities | |||
| Net income | $6,985 | $6,766 | |
| Adjustments for: | |||
| Depreciation and amortization | 19,002 | 15,943 | |
| Stock-based compensation expense | 8 | 4,764 | 4,315 |
| Distributions of earnings received from equity method investments | 147 | 833 | |
| Income from equity method investments | (261) | (442) | |
| Loss (income) from debt investment | 1,344 | (164) | |
| Loss (gain) on disposal of property and equipment | (801) | 373 | |
| Amortization of deferred financing costs | 135 | — | |
| Deferred income tax benefit | (3,507) | (791) | |
| Changes in working capital: | |||
| Accounts receivable, net | (8,213) | (533) | |
| Inventory | 583 | (514) | |
| Prepaid expenses and other assets | 340 | 1,193 | |
| Trade payables | 747 | (255) | |
| Deferred revenue | 489 | 859 | |
| Accrued liabilities | 2,424 | 4,086 | |
| Income tax payable/receivable | (76) | 259 | |
| Net cash provided by operating activities | $24,102 | $31,928 | |
| Cash flows from investing activities | |||
| Purchase of property and equipment | (25,942) | (18,161) | |
| Investment in equity investments | — | (7) | |
| Cash paid for acquisitions, net of cash acquired | 3 | (2,999) | (28,580) |
| Proceeds from sale of property and equipment | 4 | 7,440 | 2,128 |
| Net cash used in investing activities | $(21,501) | $(44,620) | |
| Cash flows from financing activities | |||
| Proceeds from exercise of options | 8 | 416 | 1,234 |
| Proceeds from term notes | 6 | — | 5,000 |
| Principal payments on term notes | 6 | (954) | (2,746) |
| Proceeds from revolving credit facilities | 6 | 3,000 | 8,000 |
| Payments on revolving credit facilities | (5,000) | (5,005) | |
| Payments for debt issuance costs | (171) | — | |
| Shares redeemed to pay income tax | 8 | (1,065) | (595) |
| Repayments of finance lease liabilities | (319) | (32) | |
| Net cash provided by (used in) financing activities | $(4,093) | $5,856 | |
| Net decrease in cash and cash equivalents | (1,492) | (6,836) | |
| Cash and cash equivalents at beginning of year | 12,839 | 16,914 | |
| Cash and cash equivalents at end of period | $11,347 | $10,078 | |
| Supplemental disclosures of cash flow information | |||
| Cash paid during the period for interest | $745 | $497 | |
| Cash paid during the period for income taxes, net of refunds | $6,416 | $3,218 | |
| Supplemental disclosures of non-cash transactions | |||
| Equipment and other fixed asset purchases payable at end of period | $2,854 | $2,598 | |
| Equipment sales receivable at end of period | $1,683 | $— | |
See accompanying notes to the condensed consolidated financial statements
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