VIEMED HEALTHCARE INC

For the period ended Dec 31, 2024. Filed Mar 10, 2025.

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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2024 · Filed Mar 10, 2025

VMD$8.98+0.3%Stored close · as of Nov 10, 2026

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Contents

Item 8. Consolidated Statements of Cash Flows

VIEMED HEALTHCARE, INC.CONSOLIDATED STATEMENTS OF CASH FLOWS

(Expressed in thousands of U.S. Dollars)

	Year Ended December 31,
	Note	2024	2023	2022
Cash flows from operating activities
Net income		$11,409	$10,243	$6,222
Adjustments for:
Depreciation and amortization		25,368	21,862	15,630
Change in inventory reserve		—	—	(1,418)
Stock-based compensation expense	8	6,285	5,849	5,202
Distributions of earnings received from equity method investments		147	980	1,079
Income from equity method investments		(261)	(485)	(935)
Loss (income) from debt investment		1,344	(219)	—
Loss (gain) on disposal of property and equipment		(1,905)	645	346
Amortization of deferred financing costs		187	—	—
Deferred income tax expense (benefit)		(3,840)	(1,439)	1,746
Changes in working capital:
Accounts receivable, net		(6,073)	(1,058)	(2,556)
Inventory		574	(472)	301
Prepaid expenses and other assets		544	2,176	(2,838)
Trade payables		359	(859)	(318)
Deferred revenue		364	851	871
Accrued liabilities		2,857	4,959	2,549
Income tax payable/receivable		1,730	2,179	1,867
Net cash provided by operating activities		$39,089	$45,212	$27,748
Cash flows from investing activities
Purchase of property and equipment	4	(37,771)	(26,093)	(22,898)
Investment in equity investments	2	(1,000)	(20)	(141)
Cash paid for acquisitions, net of cash acquired	3	(2,999)	(28,588)	—
Investment in debt security	2	—	—	(2,000)
Proceeds from sale of debt security	2	750	—	—
Proceeds from sale of property and equipment	4	10,321	2,588	1,063
Net cash used in investing activities		$(30,699)	$(52,113)	$(23,976)
Cash flows from financing activities
Proceeds from exercise of options	8	1,017	1,303	283
Proceeds from term notes	6	—	5,000	—
Principal payments on term notes	6	(1,071)	(3,721)	(5,796)
Proceeds from revolving credit facilities	6	3,000	8,000	—
Principal payments on revolving credit facilities		(5,000)	(7,005)	—
Payments for debt issuance costs		(192)	—	—
Shares redeemed to pay income tax	8	(1,069)	(594)	(143)
Shares repurchased under the share repurchase program		—	—	(9,568)
Repayments of finance lease liabilities		(338)	(157)	(42)
Distributions to non-controlling interest		(36)	—	—
Net cash provided by (used in) financing activities		$(3,689)	$2,826	$(15,266)
Net increase (decrease) in cash and cash equivalents		4,701	(4,075)	(11,494)
Cash and cash equivalents at beginning of year		12,839	16,914	28,408
Cash and cash equivalents at end of period		$17,540	$12,839	$16,914
Supplemental disclosures of cash flow information
Cash paid during the period for interest		$950	$851	$231
Cash paid (received) during the period for income taxes, net of refunds		$6,827	$3,566	$(846)
Supplemental disclosures of non-cash transactions
Non-cash change in debt from the reclassification of debt issuance costs	6	$—	$(594)	$—
Net non-cash changes to operating lease		$—	$(41)	$530
Equipment and other fixed asset purchases payable at end of period		$2,179	$1,396	$739
Equipment sales receivable at end of period		$2,844	$—	$—
Non-cash consideration received for sale of debt security		$125	$—	$—

See accompanying notes to the consolidated financial statements
Page	F-7

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