QUIPT HOME MEDICAL REPORTS RECORD FOURTH QUARTER AND FISCAL YEAR 2023 FINANCIAL RESULTS POSTING REVENUE GROWTH OF 59% AND ADJUSTED EBITDA GROWTH OF 73% POSTS VERY STRONG ADJUSTED EBITDA % OF REVENUE OF 23.5% FOR FISCAL Q

QUIPT HOME MEDICAL REPORTS RECORD FOURTH QUARTER

AND FISCAL YEAR 2023 FINANCIAL RESULTS POSTING REVENUE GROWTH OF 59% AND ADJUSTED EBITDA GROWTH OF 73%

POSTS VERY STRONG ADJUSTED EBITDA % OF REVENUE

OF 23.5% FOR FISCAL Q4 AND 22.8% FOR FISCAL YEAR 2023

Cincinnati, Ohio - December 18, 2023

- Quipt Home Medical Corp. (the "Company") (NASDAQ: QIPT; TSX: QIPT), a U.S. based home medical equipment provider,

focused on end-to-end respiratory care, today announced its fourth quarter and fiscal year 2023 financial results and operational highlights.

These results pertain to the three months and year ended September 30, 2023, and are reported in United States dollars ("$",

"dollars" and "US$") and have been rounded to the nearest hundred thousand.

Quipt will host its Earnings Conference Call on

Tuesday, December 19, 2023, at 10:00 a.m. (ET). The dial-in number is 1 (800) 319-4610 or 1 (604) 638-5340. The live audio webcast

can be found on the investor section of the Company's website through the following link: www.quipthomemedical.com.

Financial Highlights:

Operational and Recent Acquisition Highlights:

Management Commentary:

"We exited fiscal 2023 with strong momentum

across the organization, and substantial operating scale achieved, posting record results with revenue increasing by $81.8 million to

$221.7 million. We saw an acceleration of our fiscal 2023 Adjusted EBITDA as a percentage of revenue increase to 22.8%, compared to 20.9%

in fiscal 2022, reduced our bad debt expense significantly and improved net operating cash flow. Our growth strategy continues to yield

consistent financial and operational results, and we are pleased with the team's continuous efforts to expand our patient-centric ecosystem

into strategic areas around the country. To achieve our goals for organic growth, we have been concentrating our efforts on areas where

COPD prevalence is high and extending our sales efforts into continuum markets. In fiscal 2024, we anticipate solid organic growth, with

the goal of achieving 8-10% revenue growth on an annualized basis. In real time during fiscal Q1 2024, we have seen continued strong demand

for our entire diversified respiratory product mix including sleep products and expect this to continue through fiscal 2024," said

CEO and Chairman Greg Crawford.

He added "with 287,500 active patients across

26 states in the United States, Quipt is currently in the strongest market position it has ever been in. Given the favorable regulatory

environment, the ongoing high demand for respiratory products and services, the robust demographic trends, and our consistent operating

success across the board, we expect continued robust growth in fiscal 2024. Furthermore, we have a lot of opportunity to take advantage

of the growing market for at-home clinical respiratory care thanks to our healthy balance sheet, strategic organic growth initiatives

and acquisition pipeline."

"We take great pride in our record-breaking

financial and operational performance in the 2023 fiscal year and are incredibly proud of our ability to post our Adjusted EBITDA at 22.8%

of revenue" said Hardik Mehta, Quipt's Chief Financial Officer. "In fiscal Q4, we saw further margin acceleration with

Adjusted EBITDA as a percentage of revenue reaching 23.5% and we exceeded $256 million in Run-Rate Revenue (defined in Non-IFRS Measures

below). We continue achieving consistent financial results as a result of our ongoing efforts to strategically develop scale with the

infrastructure we already have in place, and with over 83% of our revenue being categorized as recurring. Our seamless integration of

our largest acquisition to date to kick off 2023 has opened lots of growth opportunities for us to push in 2024. We have the resources

needed to carry out our organic and inorganic plan for strategic expansion in an environment with elevated interest rates thanks to our

very strong balance sheet with a very low leverage ratio of 1.4x net debt to Adjusted EBITDA, and more than $58 million between available

credit and cash on hand. Given our flexible capital structure we continue to look at different ways to create shareholder value and believe

that our operational excellence and robust balance sheet provide us with all the resources necessary to execute our growth strategy."

The Company's full financial statements and management's

discussion and analysis for the three months and year ended September 30, 2023 will be available under the Company's profile on SEDAR

(www.sedarplus.ca) and at www.sec.gov and will be posted on the Company's web site at www.quipthomemedical.com, on or before the filing

deadline of December 29, 2023.

ABOUT QUIPT HOME MEDICAL CORP.

The Company provides in-home monitoring and disease

management services including end-to-end respiratory solutions for patients in the United States healthcare market. It seeks to continue

to expand its offerings to include the management of several chronic disease states focusing on patients with heart or pulmonary disease,

sleep disorders, reduced mobility, and other chronic health conditions. The primary business objective of the Company is to create shareholder

value by offering a broader range of services to patients in need of in-home monitoring and chronic disease management. The Company's

organic growth strategy is to increase annual revenue per patient by offering multiple services to the same patient, consolidating the

patient's services, and making life easier for the patient.

There can be no assurance that any of the potential

acquisitions in the Company's pipeline or in negotiations will be completed as proposed or at all and no definitive

agreements have been executed. Completion of any transaction will be subject to applicable director, shareholder, and regulatory

Forward-Looking Statements

Certain statements contained in this press

release constitute "forward-looking information" as such term is defined in applicable Canadian securities

legislation. The words "may", "would", "could", "should", "potential", "will",

"seek", "intend", "plan", "anticipate", "believe", "estimate", "expect",

"outlook", and similar expressions as they relate to the Company, including: the Company anticipating

solid and robust organic growth, with the goal of achieving 8-10% revenue growth on an annualized basis; are intended to identify

forward-looking information. All statements other than statements of historical fact may be forward- looking information.

Such statements reflect the Company's current views and intentions with respect to future events, and current

information available to the Company, and are subject to certain risks, uncertainties and assumptions, including:

the Company successfully identified, negotiating and completing additional acquisitions; and operating and other financial

metrics maintaining their current trajectories. Many factors could cause the actual results, performance or achievements

that may be expressed or implied by such forward-looking information to vary from those described herein should

one or more of these risks or uncertainties materialize. Examples of such risk factors include, without limitation:

risks related to credit, market (including equity, commodity, foreign exchange and interest rate), liquidity,

operational (including technology and infrastructure), reputational, insurance, strategic, regulatory, legal,

environmental, and capital adequacy; the general business and economic conditions in the regions in which the

Company operates; the ability of the Company to execute on key priorities, including the successful completion

of acquisitions, business retention, and strategic plans and to attract, develop and retain key executives; difficulty

integrating newly acquired businesses; the ability to implement business strategies and pursue business opportunities;

low profit market segments; disruptions in or attacks (including cyber-attacks) on the Company's information

technology, internet, network access or other voice or data communications systems or services; the evolution

of various types of fraud or other criminal behavior to which the Company is exposed; the failure of third parties

to comply with their obligations to the Company or its affiliates; the impact of new and changes to, or application

of, current laws and regulations; decline of reimbursement rates; dependence on few payors; possible new drug

discoveries; a novel business model; dependence on key suppliers; granting of permits and licenses in a highly

regulated business; the overall difficult litigation environment, including in the U.S.; increased competition;

changes in foreign currency rates; increased funding costs and market volatility due to market illiquidity and

competition for funding; the availability of funds and resources to pursue operations; critical accounting estimates

and changes to accounting standards, policies, and methods used by the Company; the occurrence of natural and

unnatural catastrophic events and claims resulting from such events; and risks related to COVID-19 including

various recommendations, orders and measures of governmental authorities to try to limit the pandemic, including

travel restrictions, border closures, non-essential business closures, quarantines, self-isolations, shelters-in-place

and social distancing, disruptions to markets, economic activity, financing, supply chains and sales channels,

and a deterioration of general economic conditions including a possible national or global recession; as well

as those risk factors discussed or referred to in the Company's disclosure documents filed with United

States Securities and Exchange Commission and available at www.sec.gov, and with the securities regulatory authorities

in certain provinces of Canada and available at www.sedar.com. Should any factor affect the Company in an unexpected

manner, or should assumptions underlying the forward-looking information prove incorrect, the actual results

or events may differ materially from the results or events predicted. Any such forward- looking information is

expressly qualified in its entirety by this cautionary statement. Moreover, the Company does not assume responsibility

for the accuracy or completeness of such forward-looking information. The forward-looking information included

in this press release is made as of the date of this press release and the Company undertakes no obligation to