Viemed Healthcare, Inc. · NASDAQ:VMD
Viemed Healthcare — Investor Presentation (November 2026)
34 slides from Viemed Healthcare's investor presentation, November 2026
Slide 1: A Rapidly Growing National Leader In Home-Based Clinical Care
A Rapidly Growing Investor Presentation: NASDAQ: VMD National Leader In Home-Based Clinical Care. November 2026 VieMed Healthcare Inc. • Investor Presentation 1
Slide 2: Disclaimers
Disclaimers Disclaimers and Other Important Information This presentation (the “Presentation”) about VieMed Healthcare, Inc. (“VieMed” or the “Company”) is dated November 2026. It presents information in a summary form and does not purport to be complete. The data contained herein is derived from va
Slide 3: An innovative, national in-home healthcare leader built on clinical excellence
An innovative, national in-home healthcare leader built on clinical excellence... Built a Platform Around Extensive Nationwide Innovative At-Home Robust Growth and Complex Respiratory Reach Healthcare Financial Performance Services Home-based care platform built on Serving over 223,000 patients with
Slide 4: Led by an experienced management team
…led by an experienced management team… Casey Hoyt Randy Dobbs CEO and original founder >20% Board of Directors, Chairman 20+ years with VieMed Insider 10+ years with VieMed Beneficial Ownership Michael Moore, RRT William Frazier, MD President and original founder Chief Medical Officer 20+ years wit
Slide 5: With multiple catalysts driving our growth
...with multiple catalysts driving our growth. Massively underserved market with a purpose-built clinical model to close the gap Complex respiratory care and obstructive sleep apnea remain meaningfully underdiagnosed and undertreated. VieMed's high-touch, technology-enabled approach is designed to r
Slide 6: Complex respiratory care is the foundation of our business
Complex respiratory care is the foundation of our business... Vent Patients on Service 1 Attractive Unit Economics 12,500 Monthly Reimbursement ~$1,050 11,500 10,500 Avg. Length of Stay ~17 months 9,500 Rental Structure Uncapped 8,500 Service Model 24/7 RT included 7,500 Coverage Medicare + most pla
Slide 7: Serving a population that is massively underserved
...serving a population that is massively underserved... 25 Million (estimated) people in the U.S. have COPD VIEMED IS SECOND 2,500,000 or 10% have stage 4 COPD 15% LARGEST 1 PROVIDER 1,250,000 or 50% of those with stage 4 COPD develop chronic respiratory failure becoming candidates for our therapy
Slide 8: Tech-enabled clinical model that sets us apart
... through a tech-enabled, clinical model that sets us apart... Proprietary clinical Increase patient and platform, connecting best-in-class clinical 24/7 caregiver engagement service with Respiratory best-in-class devices Therapist included in service Increase efficiency Capture value-based data o
Slide 9: Backed by real-world outcomes
...and backed by real-world outcomes. June 29, 2022 September 15, 2021 December 29, 2020 Early initiation of non-invasive ventilation at Non-invasive ventilation at home Non-invasive ventilation at home reduces Non-invasive ventilation at home improves home reduces mortality, hospitalizations, and r
Slide 10: Our unique operating model has opened doors to expand our patient base
Our unique operating model has opened doors to expand our patient base… LEAN OPERATING MODEL PRODUCT OFFERINGS No retail storefronts What fits our current national model ✓ Minimal brick-and-mortar limited to small distribution hubs Clinician-delivered, remotely monitored services: Mobile workforce •
Slide 11: Six years later, the numbers tell the story
… and six years later, the numbers tell the story. Diverse and Reliable Revenue Streams Ventilation revenue has doubled since 2019, while sales and service revenue grew from 7% to 32% of the revenue mix. SERVICE MIX PAYOR MIX FY 2019 Q3 2026 FY 2019 Q3 2026 Other Airway 6% Other Sleep Oxygen Clearan
Slide 12: Sleep is the clearest example
Sleep is the clearest example of what that looks like… PAP Therapy Patients 1 Sleep Resupply Patients 2 Growth Metrics 50,000 45,000 38% 22% 23% 40,000 3Q26 YoY 3Q26 YoY of 3Q26 Net Revenue 35,000 PAP Patient Growth Resupply Growth (and Growing) 30,000 25,000 Multiple Tailwinds 20,000 Sleep business
Slide 13: We're still expanding our reach
...and we’re still expanding our reach. Oxygen Therapy Airway Clearance Women's Health Healthcare Staffing 7% of Revenue 1 7% of Revenue 1 8% of Revenue 1 7% of Revenue1 2 FY 2025 Growth Rate of 8% FY 2025 Growth Rate of 18% FY 2025 Growth Rate of 100% FY 2025 Growth Rate of 12% Tankless portable ox
Slide 14: Growth Strategy
Growth Strategy VieMed Healthcare Inc. • Investor Presentation 14
Slide 15: Three engines driving our next chapter
Three engines driving our next chapter. ORGANIC GROWTH INORGANIC GROWTH OPERATIONAL LEVERAGE Geographic expansion into new target Active M&A pipeline: complementary AI & technology driving efficiency markets services across lines Densify existing markets Proven playbook: HMP, EAMC, Lehan Declining c
Slide 16: Disciplined M&A has accelerated the platform
Disciplined M&A has accelerated the platform… Complementary acquisitions leveraging our platform: successfully integrated and accretive June 2023 April 2024 (JV) July 2025 Complex respiratory synergies Referral source and patient base synergies Chicago market platform with brand equity Accelerated s
Slide 17: The runway of opportunities is long
… and the runway of opportunities is long. Our infrastructure, clinical expertise, and payor relationships position us to expand into additional complex home- based services as healthcare continues its shift toward home-based care delivery. SECULAR TAILW INDS Stable Regulatory CMS Push to Home Aging
Slide 18: Regulatory Stability
Regulatory Stability: Stable reimbursement environment and a new coverage standard that strengthens our position A Rate and Coverage Environment Working in New Coverage Determination: Near-Term Our Favor. Friction, Long-Term Tailwind. Medicare Reimbursement NEAR-TERM CPI-driven rate increase took ef
Slide 19: Financial Performance
Financial Performance VieMed Healthcare Inc. • Investor Presentation 19
Slide 20: 2025: Record results across the business
2025: Record results across the business… $270M $61M $28M • Net revenues grew 21% Y-o-Y, reaching a new Company record 1 1 Net Revenue Adjusted EBITDA Free Cash Flow 1 • Adjusted EBITDA grew 20% Y-o-Y, reaching a new Company record • Diluted EPS grew 32% Y-o-Y, the 9th consecutive year of positive n
Slide 21: Continued momentum through 3Q 2026
…and continued momentum through 3Q 2026... • 3Q 2026 Revenue increased 12% Y-o-Y, including Lehan in both periods $80.7M $17.1M $26M 1, 3 1 Net Revenue 3 Adjusted EBITDA TTM Free Cash Flow 1 • Ventilator rental revenue increased 7.4% Y-o-Y and 2.9% sequentially to $37.5M • 3Q 2026 Adjusted 1 totaled
Slide 22: Consistent full-year financial performance
...reflected in consistent full-year financial performance... FY FY FY 2026 12/31/23 12/31/24 12/31/25 Guidance 1 Net Revenue $ 183.0M $ 224.3M $ 270.3M $ 318.0M Gross Margin % 61.6% 59.4% 57.5% Net Income Attr. to VMD $ 10.2M $ 11.3M $ 14.9M 2 Adjusted EBITDA $ 43.1M $ 51.1M $ 61.4M $ 65.0M Adjuste
Slide 23: A long track record of consistent growth
…and a long track record of consistent growth. $350,000,000 $300,000,000 $250,000,000 $200,000,000 $150,000,000 $100,000,000 $50,000,000 $- 2017 2018 2019 2020 1 20211 2022 1 2023 2024 2025 2026E3 2 Revenue Adj. EBITDA (1) 2020, 2021 and 2022 includes $34.3 million, $8.6 million and $2.3 million of
Slide 24: 2026 Guidance & Commentary
2026 Guidance & Commentary Net Revenue Adjusted EBITDA Net CAPEX $316M – $320M $64M – $66M 8% – 9% Full-Year 2026 Guidance Full-Year 2026 Guidance of Net Revenue Revenue Cadence Share Repurchase Program NEW Down ~1% sequentially vs. Q4 2025; consistent with Q1 seasonal guidance 5% of Shares Outstand
Slide 25: Capital Allocation Strategy
Capital Allocation Strategy Our cash flow generation supports all three priorities simultaneously I N V E S T I N O R G AN I C G R O W T H 1 Fully funded by operating cash flow. Sleep tech scaling, women’s health national rollout, continued geographic expansion. EXECUTE M&A PIPELINE 2 Complementary
Slide 26: Why Own VMD
Why Own VMD NASDAQ: VMD Proven National Platform with Multiple High-Growth Opportunities 1 Infrastructure serving 223,000+ patients across all 50 states, built over a decade of disciplined clinical execution. Ventilation anchor and complementary lines; all leveraging shared infrastructure and payor
Slide 27: Appendix
Appendix VieMed Healthcare Inc. • Investor Presentation 27
Slide 28: Net CAPEX
Net CAPEX (expressed in thousands of U.S. Dollars) For the quarter ended 9/30/26 6/30/26 3/31/26 12/31/25 9/30/25 6/30/25 3/31/25 12/31/24 Purchase of property and equipment 8,616 8,460 6,712 8,737 7,636 8,129 15,483 11,829 Proceeds from sale of property and (1,154) (1,174) (1,227) (1,125) (1,671) (
Slide 29: Liquidity Metrics
Liquidity Metrics (expressed in thousands of U.S. Dollars) For the period ended 9/30/26 12/31/25 12/31/24 Cash on hand $ 9,676 $ 13,501 $ 17,540 Working Capital $ 11,966 $ 7,437 $ 15,554 Long Term Debt $ 4,510 $ 11,291 $ 3,589 Positioned for growth • The Company maintains a healthy balance sheet wit
Slide 30: Free Cash Flow – Annual
Free Cash Flow – Annual Management believes free cash flow provides investors with useful insight into the company’s ability to generate cash, fund growth initiatives, and return capital to shareholders. Free cash flow does not represent residual cash flow available for discretionary expenditures. F
Slide 31: Free Cash Flow – Trailing Twelve Months
Free Cash Flow – Trailing Twelve Months The Company also presents non-GAAP free cash flow for the current quarter and trailing twelve months (TTM) as a supplemental liquidity measure. Free cash flow does not represent residual cash flow available for discretionary expenditures. Trailing twelve month
Slide 32: Reconciliation of Adjusted EBITDA
Reconciliation of Adjusted EBITDA Adjusted EBITDA is a non-GAAP financial measure that does not have a standardized meaning prescribed by U.S. GAAP. VieMed's presentation of this financial measure may not be comparable to similarly titled measures used by other companies. Management believes Adjuste
Slide 33: Reconciliation of Adjusted EBITDA
Reconciliation of Adjusted EBITDA1 (Expressed in thousands of U.S. Dollars) For the quarter ended: 9/30/26 6/30/26 3/31/26 12/31/25 9/30/25 6/30/25 3/31/25 12/31/24 Net Income attributable to $ 4,638 $ 2,764 $ 2,582 $ 5,639 $ 3,513 $ 3,157 $ 2,625 $ 4,316 VieMed Healthcare, Inc. Add back: Depreciati
Slide 34: Financial and Operational Highlights
Financial and Operational Highlights (expressed in thousands of U.S. Dollars, except operational information). For the quarter ended: 9/30/26 6/30/26 3/31/26 12/31/25 9/30/25 6/30/25 3/31/25 12/31/24 Financial Information: Revenue $80,673 $78,097 $75,414 $76,181 $71,914 $63,056 $59,129 $60,695 Gross
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