$INFU

InfuSystem Holdings, Inc

CIK:0001337013|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Net revenues	$ 36,933	$ 36,002	$ 70,617	$ 70,718
Cost of revenues	15,520	16,128	29,522	31,677
Gross profit	21,413	19,874	41,095	39,041
Selling, general and administrative expenses:
Amortization of intangibles	175	247	384	495
Selling and marketing	2,989	2,704	6,069	5,689
General and administrative	14,097	13,146	28,900	28,462
Total selling, general and administrative	17,261	16,097	35,353	34,646
Operating income	4,152	3,777	5,742	4,395
Other expense:
Interest expense	(255)	(373)	(510)	(709)
Other (expense) income	(26)	42	56	13
Income before income taxes	3,871	3,446	5,288	3,699
Provision for income taxes	(640)	(847)	(1,040)	(1,367)
Net income	$ 3,231	$ 2,599	$ 4,248	$ 2,332
Net income per share:
Basic (in dollars per share)	$ 0.16	$ 0.12	$ 0.21	$ 0.11
Diluted (in dollars per share)	$ 0.15	$ 0.12	$ 0.20	$ 0.11
Weighted average shares outstanding:
Basic (in shares)	20,071,144	20,806,967	20,140,702	20,965,114
Diluted (in shares)	20,919,895	21,056,460	20,927,020	21,288,370
Comprehensive income:
Net income	$ 3,231	$ 2,599	$ 4,248	$ 2,332
Other comprehensive income (loss):
Unrealized gain (loss) on hedges	41	(203)	59	(532)
(Provision for) benefit from income tax on unrealized hedge gain (loss)	(10)	50	(18)	130
Net comprehensive income	$ 3,262	$ 2,446	$ 4,289	$ 1,930

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
OPERATING ACTIVITIES
Net income	$ 4,248	$ 2,332
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for doubtful accounts	212	39
Depreciation	6,045	6,166
Loss on disposal of and reserve adjustments for medical equipment	502	380
Gain on sale of medical equipment	(96)	(1,723)
Amortization of intangible assets	384	495
Amortization of deferred debt issuance costs	42	39
Stock-based compensation	2,475	1,769
Deferred income taxes	1,040	1,363
Changes in assets - (increase)/decrease:
Accounts receivable	(5,689)	(2,089)
Inventories	593	863
Other current assets	(43)	24
Other assets	637	1,106
Changes in liabilities - (decrease)/increase:
Accounts payable and other liabilities	(2,603)	(1,975)
NET CASH PROVIDED BY OPERATING ACTIVITIES	7,747	8,789
INVESTING ACTIVITIES
Acquisition of business	0	(1,412)
Purchase of medical equipment	(6,543)	(4,314)
Purchase of property and equipment	(248)	(348)
Proceeds from sale of medical equipment, property and equipment	1,008	1,728
NET CASH USED IN INVESTING ACTIVITIES	(5,783)	(4,346)
FINANCING ACTIVITIES
Principal payments on long-term debt	(12,890)	(30,261)
Cash proceeds from long-term debt	13,648	32,717
Debt issuance costs	0	(12)
Common stock repurchased as part of share repurchase program	(4,358)	(6,395)
Common stock repurchased to satisfy statutory withholding on employee stock-based compensation plans	(775)	(458)
Cash proceeds from exercise of options and ESPP	189	159
NET CASH USED IN FINANCING ACTIVITIES	(4,186)	(4,250)
Net change in cash and cash equivalents	(2,222)	193
Cash and cash equivalents, beginning of period	3,186	527
Cash and cash equivalents, end of period	$ 964	$ 720

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 964	$ 3,186
Accounts receivable, net	27,205	22,901
Inventories, net	5,519	5,391
Other current assets	4,584	4,858
Total current assets	38,272	36,336
Medical equipment for sale or rental	2,395	4,589
Medical equipment in rental service, net of accumulated depreciation	34,412	34,456
Property & equipment, net of accumulated depreciation	3,003	3,359
Goodwill	3,710	3,710
Intangible assets, net	6,482	6,866
Operating lease right of use assets	3,518	4,178
Deferred income taxes	3,582	4,640
Derivative financial instruments	807	748
Other assets	1,519	1,678
Total assets	97,700	100,560
Current liabilities:
Accounts payable	8,979	10,821
Other current liabilities	6,321	9,361
Total current liabilities	15,300	20,182
Long-term debt	20,424	19,625
Operating lease liabilities, net of current portion	2,830	3,427
Total liabilities	38,554	43,234
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; 19,914,156 shares issued and outstanding as of June 30, 2026 and 20,209,636 shares issued and outstanding as of December 31, 2025	2	2
Additional paid-in capital	119,350	117,461
Accumulated other comprehensive income	606	565
Retained deficit	(60,812)	(60,702)
Total stockholders’ equity	59,146	57,326
Total liabilities and stockholders’ equity	$ 97,700	$ 100,560