Business
Addus HomeCare Announces First Quarter 2025 Financial Results
FRISCO, Texas--(BUSINESS WIRE)-- Addus HomeCare Corporation (NASDAQ: ADUS), a provider of home care services, today announced its financial results for the
About this update from Addus Homecare Corporation
[{"type":"text","content":" FRISCO, Texas--(BUSINESS WIRE)--\nAddus HomeCare Corporation (NASDAQ: ADUS), a provider of home care services, today announced its financial results for the first quarter ended March 31, 2025.\n\nFirst Quarter 2025 Highlights:\n\n\nNet Service Revenues Grow 20.3% to $337.7 Million\n\n\nNet Income of $21.2 Million, or $1.16 per Diluted Share\n\n\nAdjusted Net Income per Diluted Share Increases 17.4% year-over-year to $1.42\n\n\nAdjusted EBITDA Increases 25.1% year-over-year to $40.6 Million\n\n\nCash Flow from Operations of $18.9 Million\n\n\nOverview\n\nNet service revenues were $337.7 million for the first quarter of 2025, a 20.3% increase compared with $280.7 million for the first quarter of 2024. Net income was $21.2 million for the first quarter of 2025 compared with $15.8 million for the first quarter of 2024, while net income per diluted share was $1.16 compared with $0.97 for the same period a year ago. Adjusted EBITDA increased 25.1% to $40.6 million for the first quarter of 2025 from $32.4 million for the first quarter of 2024. Adjusted net income was $26.0 million for the first quarter of 2025 compared with $19.8 million for the prior-year period, while adjusted net income per diluted share was $1.42 compared with $1.21 for the first quarter of 2024. Adjusted net income per diluted share for the first quarter of 2025 excludes acquisition expenses of $0.13 and stock-based compensation expense of $0.13 (See the end of press release for a reconciliation of all non-GAAP and GAAP financial measures.)\n\nCommenting on the results, Dirk Allison, Chairman and Chief Executive Officer, said, “Addus had a strong start to 2025, delivering a solid financial and operating performance as we continue to see solid demand for our home-based care services across the continuum. Revenue for the first quarter of 2025 was up 20.3% and adjusted EBITDA increased 25.1% over the same period last year. These results reflect solid organic growth and include the first full quarter of the personal care operations of Gentiva, which we acquired on December 2, 2024.\n\n“Our personal care segment, which accounted for 76.5% of our business, was the key driver of our growth with a 7.4% organic revenue increase over the first quarter last year. We benefited from higher volumes as well as additional rate support, including a 5.5% increase effective January...