Business
AdaptHealth Corp. Announces Third Quarter 2025 Results
CONSHOHOCKEN, Pa.--(BUSINESS WIRE)-- AdaptHealth Corp. (NASDAQ: AHCO) (“AdaptHealth” or the “Company”), a national leader in providing patient-centered,
About this update from Adapthealth Corp.
[{"type":"text","content":" CONSHOHOCKEN, Pa.--(BUSINESS WIRE)--\nAdaptHealth Corp. (NASDAQ: AHCO) (“AdaptHealth” or the “Company”), a national leader in providing patient-centered, healthcare-at-home solutions including home medical equipment, medical supplies, and related services, announced today financial results for the third quarter ended September 30, 2025.\n\nThird Quarter Business Highlights\n\n\nSigned another new capitated agreement to be the exclusive HME provider for a payor serving approximately 170,000 members, and added infrastructure to support our previously announced capitated partnership with a major national healthcare system.\n\n\nAdvanced digital patient engagement and expanded self-service capabilities, growing registered myApp users to 271,000, up from 118,000 in the third quarter of 2024.\n\n\nReduced debt by $50.0 million, bringing year-to-date debt reduction to $225.0 million, resulting in a net leverage ratio of 2.68x at quarter end versus the Company’s stated net leverage target of 2.50x.\n\n\nThird Quarter Results\n\nAll comparisons are to the quarter ended September 30, 2024 unless otherwise stated.\n\n\nNet revenue was $820.3 million compared to $805.9 million, an increase of 1.8%.\n\n\nOrganic revenue growth of 5.1% was the highest since the first quarter of 2024, driven by solid underlying volume trends across the four reportable segments.\n\n\nNet income attributable to AdaptHealth Corp. was $24.5 million compared to net income of $22.9 million.\n\n\nAdjusted EBITDA was $170.1 million compared to $164.3 million, an increase of 3.5%.\n\n\nCash flow from operations was $418.6 million year-to-date 2025, an increase from $391.4 million during the comparable period in 2024, and free cash flow was $140.1 million year-to-date 2025, compared to $162.7 million during the comparable period in 2024.\n\n\nManagement Commentary\n\n“Q3 was a milestone quarter for AdaptHealth,” said Suzanne Foster, CEO of AdaptHealth. “We delivered strong financial results that exceeded our expectations, made substantial operational improvements across the organization, and continued building foundational capabilities to drive sustainable growth. The quarter demonstrated both the progress we've made and the significant opportunity ahead.”\n\nFinancial Outlook\n\nThe Company is maintaining financial guidance for fiscal year 2025, as follows:\n\n\nNet r...