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Afya Limited Announces First-Quarter 2026 Financial Results

AFYA
  • Afya Limited reported Q1 2026 revenue of R$1,012.7 million, an 8.2% year-over-year increase, with revenue excluding acquisitions rising 7.7% to R$1,008.4 million.
  • Adjusted EBITDA increased 4.0% YoY to R$511.4 million, resulting in a margin of 50.5%, a decrease of 200 basis points from the prior year.
  • Net income grew 1.8% YoY to R$261.8 million, while basic earnings per share increased 3.0% to R$2.88.
  • The company generated R$376.0 million in free cash flow with a cash position of R$1,332.9 million as of March 31, 2026.
  • Over 304 thousand users were reached within Afya's ecosystem during the quarter.
  • The Undergraduate segment maintained 100% occupancy in medical schools, with a 4.6% YoY increase in net average ticket price excluding acquisitions.
  • Regulatory approval was granted for 63 additional medical seats at the Afya Abaetetuba campus, bringing the total approved seats in the portfolio to 3,768.
  • The Board approved a cash dividend of R$307.4 million (40% of 2025 net income), paid in US dollars at R$3.446838 per share.
  • Moody's reaffirmed Afya's credit rating at AAA.br with a stable outlook on May 5, 2026.
  • The company reaffirmed its 2026 guidance, projecting revenue between R$3,950 million and R$4,100 million, and Adjusted EBITDA between R$1,700 million and R$1,800 million.
  • Continuing Education and Medical Practice Solutions segments saw increased investments in SG&A and product development, contributing to higher costs but supporting long-term ecosystem growth.
  • The share repurchase program authorized in 2025 has seen over 50% of the total 4,000,000 shares executed, contributing to reduced leverage.
  • Net Debt (excluding IFRS 16) decreased to R$1,151.3 million, reflecting a reduction of R$372.8 million compared to March 31, 2025.
  • Capital expenditure totaled R$44.8 million in Q1 2026, representing 4.4% of net revenue, with a notable acceleration in intangible asset investments.
  • Revenue growth was driven by higher tuition tickets, an increase in non-medical undergraduate students, the acquisition of FUNIC, and expansion in the Continuing Education segment.