05:23 PM EST, 02/10/2025 (MT Newswires) -- Quipt Home Medical ( QIPT ) , after trade Monday reported a narrower fiscal first-quarter loss and lower revenue.

The company said it lost US$1.1 million, or US$0.03 per share, compared with a loss of US$1.5 million, or US$0.04, in the year-prior quarter.

Revenue for the quarter ended Dec. 31 fell 2% to US$61.4 million from US$62.6 million.

The Medicare 75/25 blended rate, which had been helping with rates in some areas, was discontinued on Jan. 1, 2024. While this change is still being reviewed by lawmakers and may return, its immediate end negatively affected the company's revenue and results, it said.

Adjusted earnings before interest, taxes, depreciation, and amortization for the quarter declined 8.7% to US$14 million from US$15.3 million a year prior.

"Our priorities for the fiscal year ending Sept. 30 and beyond are driving organic revenue growth, achieving operational net profit, generating positive cash flow, and expanding adjusted EBITDA," Chief Executive Gregory Crawford said.

The company's shares closed up $0.09 to $4.33 on the Toronto Stock Exchange.