AdaptHealth Q3 revenue rises 1.8% to $820.3 million; full-year guidance maintained
AdaptHealth reported third-quarter 2025 results for the period ended September 30, 2025, with net revenue of $820.3 million, up 1.8% from $805.9 million a year earlier, and adjusted EBITDA of $170.1 million, up 3.5%. The company kept its fiscal 2025 guidance unchanged, including net revenue of $3.18 billion to $3.26 billion and adjusted EBITDA of $642 million to $682 million, and reported that net leverage was 2.68x against a 2.50x target.
Key points
- Q3 net income attributable to AdaptHealth was $24.5 million, compared with $22.9 million a year earlier.
- Q3 organic revenue growth was 5.1%, the highest since the first quarter of 2024, per the company.
- Fiscal 2025 guidance maintained: net revenue $3.18 billion to $3.26 billion; free cash flow $170 million to $190 million.
- Nine-month net income attributable to AdaptHealth was $32.0 million, down from $40.2 million, and nine-month free cash flow was $140.1 million, down from $162.7 million.
The filing
Written by AI on Nov 8, 2026, 6:59 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on November 04, 2025.
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