QIPT Update Following Call w/Management

Is the company still a "serial acquirer"???

Quipt Home Medical (QIPT 0.00%↑) posted solid FY23 earnings results just before Christmas. In short, the company posted impressive revenue growth of 59% and even more impressive adjusted EBITDA growth of 73%. The positive discrepancy between revenue and earnings growth highlights the company’s increased operating leverage as they have gained scale. Perhaps most importantly, however, the company highlighted on the earnings call their expectation to continue to increase their free cash flow margin.

Due to the holiday season (happy New Year to all of you!), I did not have my usual follow-up call with management until today. Below, I will share some of my key takeaways from that call.