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InfuSystem Holdings (INFU) earnings and revenue breakdown
Latest: Q3 2026 · 8-K filed Nov 5, 2026
Q3 2026 Revenue up 3% year over year to $37.6M · 8¢ of every $1 of revenue kept as net profit · operating margin 12.6%
InfuSystem Holdings made $37.6M in Q3 2026 (+3% Y/Y): Patient Services $25.8M, Device Solutions $11.8M. Operating margin 12.6%, net earnings $3.2M. See where every dollar goes — costs, profit and cash — as a Sankey from the 8-K filed Nov 5, 2026 (preliminary, from the earnings release).
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What changed this quarter
Revenue was $37.6M in Q3 2026, up 3% year over year and up 2% from the previous quarter. Patient Services was the largest line at 69% of revenue. Patient Services added $3.4M year over year (up 15%), 313% of the total change. Device Solutions declined 17%.
Gross margin was 57.8%, up 0.7 points from Q3 2025. Operating profit was $4.7M, a 12.6% margin (up 2.2 points year over year). Of the extra revenue versus Q3 2025, 85% reached operating profit, above the 10% margin then. Operating expenses fell 0% while revenue rose 3%. The fastest-growing cost line was Sales & marketing (+14%). Net earnings were $3.2M, up 40% year over year. The effective tax rate was 30.5%.
Operating cash flow was $10.3M (up 22% year over year), 328% of net earnings. Non-cash charges added back $3.0M of depreciation and $1.2M of share-based compensation. Working capital and other items added $3.0M. Capital expenditures of $73K left free cash flow of $10.3M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 8-K | Nov 5, 2026 | $37.6M | +3% | 12.6% | $3.2M | $10.3M |
| Q2 2026 | 10-Q | Aug 4, 2026 | $36.9M | +3% | 11.2% | $3.2M | $6.8M |
| Q1 2026 | 10-Q | May 8, 2026 | $33.7M | -3% | 4.7% | $1.0M | $970K |
| Q4 2025 | 10-K | Feb 27, 2026 | $36.2M | +7% | 10.3% | $2.0M | $7.1M |
| Q3 2025 | 10-Q | Nov 4, 2025 | $36.5M | +3% | 10.4% | $2.3M | $8.5M |
| Q2 2025 | 10-Q | Aug 5, 2025 | $36.0M | +7% | 10.5% | $2.6M | $7.0M |
| Q1 2025 | 10-Q | May 8, 2025 | $34.7M | +8% | 1.8% | −$267K | $1.8M |
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About InfuSystem Holdings
InfuSystem Holdings, Inc. ("we," "us," "our" or the "Company") is a Delaware corporation. Formed in 2005, the Company operates through its subsidiary InfuSystem, Inc., a Delaware corporation ("InfuSystem" or "ISI"). We are a leading national healthcare service provider, facilitating outpatient care for Durable Medical Equipment (DME) manufacturers and healthcare providers. We provide our products and services to hospitals, oncology practices, ambulatory surgery centers, and other alternate site healthcare providers. Our headquarters is in Rochester Hills, Michigan, and we operate our business from a total of seven locations in the United States ("U.S.") and Canada.
In its own words, from its 10-K, filed Feb 27, 2026.
InfuSystem Holdings against its Surgical & Medical Instruments & Apparatus peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +3% against the peers' median +5%. Operating margin: 12.6% against the peers' median 13.3%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| INFU InfuSystem Holdings | Q3 2026 | $37.6M | +3% | 12.6% |
| MDLN Medline | Q3 2026 | $7.9B | +10% | 6.4% |
| MMM 3M | Q3 2026 | $6.6B | +1% | 23.7% |
| SYK Stryker | Q3 2026 | $6.5B | +8% | 15.9% |
| BSX Boston Scientific | Q3 2026 | $5.1B | +1% | 16.1% |
| BDX Becton Dickinson | Q3 FY26 | $5.0B | +5% | 13.3% |
| BAX Baxter International | Q3 2026 | $3.0B | +5% | 7.6% |
| SOLV Solventum | Q3 2026 | $1.9B | -7% | 3.5% |
| RMD ResMed | Q1 FY27 | $1.4B | +6% | 32.0% |
Source: InfuSystem Holdings 8-K on SEC EDGAR · CIK 1337013 · Surgical & Medical Instruments & Apparatus
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History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results