InfuSystem Holdings, Inc. (NYSE American: INFU) filed a Current Report on Form 8-K dated November 9, 2026, to furnish an Investor Presentation dated the same day. The document details the company’s financial performance for the fiscal year 2025 and outlines its strategic focus on margin expansion and platform scalability.
The presentation highlights that InfuSystem achieved strong financial performance in 2025, characterized by consistent growth and margin expansion. Net revenue increased by 6% year-over-year, while Adjusted EBITDA rose by 25% year-over-year. The company reported an Adjusted EBITDA margin of 21.9% and an operating margin of 8.3% for the most recent completed fiscal year. Operating cash flow also grew by 19% year-over-year to $24.4 million.
Management attributes the margin expansion to the completion of infrastructure investments, including a multi-year ERP and platform investment that rolled off in 2025. The company projects a long-term target for Adjusted EBITDA margin between 22% and 25%.
InfuSystem operates a platform serving nearly 4,500 customer locations across the U.S. and Canada. The company facilitates treatment for more than 100,000 patients annually and manages a device fleet of over 800 units. The business model is divided into two primary revenue engines: Patient Services, which accounts for approximately 60% of revenue, and Device Solutions, which accounts for approximately 40% of revenue.
The company notes that its fastest-growing segments include Wound Care and Patient Services. In 2025, Wound Care treatment revenue grew 103% year-over-year. Additionally, the company has expanded into Pain Management therapies and continues to leverage its 800+ payer contracts covering more than 97% of U.S. insured lives.
The presentation emphasizes the company’s liquidity position, citing $58.2 million in liquidity to support growth and selective acquisitions. It also notes that no single customer represents more than 10% of total revenue and that Medicare exposure is below 10%.
