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Afya Limited Announces Second-Quarter and First-Half 2026 Financial Results

AFYA
  • Afya Limited reported Q2 2026 revenue of R$972.1 million, up 5.7% year-over-year, with 1H26 revenue reaching R$1,984.8 million, up 7.0% year-over-year.
  • Adjusted EBITDA for Q2 2026 was R$406.5 million, up 1.4% year-over-year, while 1H26 Adjusted EBITDA totaled R$918.0 million, up 2.8% year-over-year.
  • Net income increased 14.0% to R$201.3 million in Q2 2026 and rose 6.8% to R$463.1 million in 1H26, with basic EPS growing 16.7% and 8.6% respectively.
  • The company returned R$448 million to shareholders in 1H26 through dividends and share repurchases, representing 106% of Free Cash Flow to Equity.
  • Undergraduate revenue grew 7.4% in 1H26 to R$1,762.2 million, driven by a 6.5% increase in Medical Schools revenue and an 18.0% growth in Health Sciences student numbers.
  • Continuing Education revenue increased 4.6% to R$143.9 million in 1H26, supported by a 23.6% rise in total students to 56,237.
  • Medical Practice Solutions revenue grew 1.5% to R$85.3 million in 1H26, with Clinical Management active payers rising 20.4% to 50,499.
  • Afya maintained a solid cash position of R$1,006.5 million as of June 30, 2026, with an Operating Cash Conversion ratio of 87.8%.
  • Net Debt excluding IFRS 16 was R$1,394.0 million, showing a modest increase of R$24.5 million from year-end 2025.
  • Moody's reaffirmed Afya's credit rating at AAA.br with a stable outlook in May 2026, citing strong revenue growth and cash generation.
  • Marcelo Ken Suhara was appointed Chair of the Audit, Risks, and Ethics Committee on July 27, 2026, succeeding João Paulo Seibel de Faria.
  • The company reaffirmed its 2026 guidance, projecting revenue between R$3,950 million and R$4,100 million, Adjusted EBITDA between R$1,700 million and R$1,800 million, and CAPEX between R$340 million and R$380 million.
  • Capital expenditure for 1H26 totaled R$120.0 million, representing 6.0% of revenue and aligning with the 2026 investment plan.
  • The company's ecosystem reached approximately 295 thousand users, comprising medical students, continuing education students, and Medical Practice Solutions users.