InfuSystem Holdings, Inc Q1 FY2026 earnings call

• InfuSystem has a significant milestone with integrated systems after ERP implementation, focusing on capturing benefits like improved productivity, cost analysis, etc. - Barry reviewed first quarter financial results, including net revenue, patient services and device solutions performance, gross margin, SG&A expenses, adjusted EBITDA. - Discussed financial position, operating cash flow, capital expenditures, net debt, stock repurchase, and liquidity. - Emphasized strategic priorities of executing with discipline, delivering profitable growth, and driving long-term value creation.

During the first quarter of 2026, net revenue totaled $33.7 million, down 3% from prior year. Patient services net revenue increased 6.4% ($1.3M), with oncology up 2.4% ($450k) and wound care up ~112% ($1.1M). Device solutions net revenue decreased 17% ($2.3M), ~70% due to GE Healthcare contract restructuring, remaining 30% due to lower rental and equipment sales. Biomedical services revenue saw non-GE related growth. Patient services gross profit increased $1.3M, margin 64.8% (up 1.3%). Device Solutions gross profit declined $623k, but margin 46.3% (up 3.4%) due to trade-off between GE and field services, offset by revenue mix and wage/healthcare expenses.

• On a pro forma basis, anticipate annual revenue growth in 6 - 8% range after adjusting for GE healthcare contract restructuring. - Adjusted EBITDA margin to remain in low to mid 20% range, inclusive of IT systems upgrade costs. - ERP project expenses expected to start tapering down by end of second quarter 2026. - Wound care is an important element for revenue growth in the year, with higher end of revenue range likely driven by PCDs or compression devices.

Q: ERP went live in March, how's conversion going, billing/collections impact, working capital, cost step down timeline?

A: Had glitches, no cash flow/billings disruptions, working out processes, expect to articulate cost savings by end of year, cost step down to start next year.

Q: Oncology RCM migration timeline after ERP live?

A: Still second half of year, staggered due to shared internal resources.

Q: New oncology customer ramp curve, first quarter vs remaining?

A: New oncology account can take months, pretty well on board with newer customer from last year.

Q: Why better in lymphedema this time vs previous?

A: Strong partnership with new partner, receiving appropriate paperwork.

Q: Pain management impact from reimbursement changes, outlook?

A: Haven't seen lift yet, added customer, excited for year.

Q: Chemo mouthpiece coding update?

A: Didn't get approval for 2026 coding, taken out of pipeline, still providing device, working on reimbursement.

Q: Wound care trajectory, how quickly to double digits?

A: Excited for growth, new partnerships in compression beneficial, Lymphedema Patient Treatment Act aiding growth.

Q: CMS prior auth for PCDs impact?

A: Current partnerships receiving appropriate paperwork, no issues for current customers