AHCO
AdaptHealth Corp.10.35
+0.08+0.78%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Legal settled; capitated details clarified.
Q&A confirmed the $14.5M legal settlement as final, settling all North Carolina debt collection claims and derisking legacy issues under matured controls, including a clean SOX opinion. Management detailed 2026 quarterly cadence: Q1 revenue up 2-3% with 16% EBITDA margin, accelerating to low double-digits by Q4 at over 20% margins, as capitated ramp—now 5-6% growth after Q4 expense overrun—offsets early costs. Capitated pipeline hums with payer interest, sans guidance impact; diabetes sales force grows for CGM starts. Sleep faces easier comps. Legal overhang gone. Investors eye contract execution.
Key Stats
Market Cap
1.40BP/E (TTM)
18.82Basic EPS (TTM)
0.55Dividend Yield
0%Recent Filings
8-K
Q4 revenue dips, guidance up
AdaptHealth reported Q4 2025 net revenue of $846.3M, down 1.2%, and full-year $3.24B, off 0.5%, with organic growth at 1.7%. Adjusted EBITDA fell to $163.1M and $616.7M amid $128M goodwill impairment in Diabetes Health, yet debt dropped $250M. Issued 2026 guidance: $3.44B-$3.51B revenue, $680M-$730M Adjusted EBITDA. Balance sheet strengthened.
10-K
FY2025 results
AdaptHealth's FY2025 net revenue dipped 0.5% to $3.24B amid Wellness at Home dispositions cutting $92M, yet organic revenue grew 1.7% with Sleep Health up 2.1% on PAP resupply strength and Respiratory Health accelerating 6.1% via oxygen census gains. Q4 revenue hit $846M, up sequentially from $820M in Q3, as fixed monthly reimbursements swelled to 34% of total while Diabetes softened 3.6% on payor mix shift. Adjusted EBITDA fell to 19.0% margin from 21.1%, pressured by $128M Diabetes goodwill writedown, but free cash flow held at $219M. Debt sits at $1.75B with $315M term loan; $274M revolver headroom. Supply chain disruptions threaten quarterly momentum.
10-Q
Q3 FY2025 results
AdaptHealth posted Q3 revenue of $820.3M, up 1.8% y/y yet down slightly q/q (derived), with organic growth of 5.1% offset by Wellness at Home divestitures closed May/June 2025 for $122.3M gross proceeds, recognizing $32.2M gain. Operating income held steady at $61.7M despite higher patient equipment depreciation; diluted EPS rose to $0.16 from $0.15 on 137.2M shares. Cash fell to $80.4M after $140.1M YTD FCF, bolstered by $418.6M operating cash flow, while term debt dropped to $325M from $550M at year-end and $300M revolver showed $273.7M availability. Sleep and Respiratory segments drove gains via higher CPAP/oxygen census. Securities class actions linger.
8-K
AdaptHealth Q2 revenue dips slightly
AdaptHealth reported Q2 2025 net revenue of $800.4 million, down 0.7% from $806.0 million last year, with net income falling to $14.7 million from $19.4 million. Adjusted EBITDA dipped 5.9% to $155.5 million, yet the company booked a $32.2 million gain from selling incontinence and infusion assets in its Wellness at Home segment. Sales closed this quarter. Momentum builds through a new capitated partnership and debt reduction. Updated 2025 guidance projects net revenue of $3.18 billion to $3.26 billion and Adjusted EBITDA of $642 million to $682 million.
ADUS
Addus HomeCare Corporation
113.49-1.65
AEMD
Aethlon Medical, Inc.
2.94-0.11
AVAH
Aveanna Healthcare Holdings Inc
8.84-0.05
MASI
Masimo Corporation
134.52-2.88
OMI
Owens & Minor, Inc.
3.10+0.09
QIPT
Quipt Home Medical Corp.
3.52+0.02
RMD
ResMed Inc.
247.34-5.73
RMSL
RemSleep Holdings, Inc.
0.00+0.00
VMD
Viemed Healthcare, Inc.
7.26-0.11
VYCO
Vycor Medical, Inc.
0.16+0.00