Afya Surpasses Expectations in Q4 2025 with Record Revenue and Profit Growth
Afya, a leading provider of medical education and healthcare solutions in Brazil, has reported impressive financial results for the fourth quarter of 2025. According to the company's recent conference call transcript, Afya's revenue grew by 12% year-over-year, reaching BRL 3,697,000,000, while adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) jumped by over 50% to BRL 1,680,000,000. This significant increase in profitability was driven by the company's disciplined capital allocation strategy, which included share buybacks, mergers and acquisitions, and an efficient capital structure.
The results were hailed as a testament to Afya's sustainable growth model, strong operational execution, and the commitment of its teams. Virgilio Gibbon, Afya's CEO, noted that the company had achieved its seventh consecutive year of meeting or exceeding guidance since the second half of 2018, further reinforcing the strength of its business model.
Afya's operating cash flow from activities reached BRL 1,548,000,000 in the 12-month period, a 6% increase over last year, with a cash conversion rate of 93.7%. The company's net income also followed the same positive trend, growing by 18% year-over-year to reach BRL 768.4 million, with basic EPS (Earnings Per Share) reaching BRL 8.32, 19% higher than last year.
In terms of operational updates, Afya maintained its leadership position in medical education, supported by 3,755 approved medical seats and over 25,000 students enrolled in undergraduate medical programs, representing a 5% growth compared to the same period last year. The company's continuing education segment also reported solid results, with revenue growing by 11% year-over-year to reach BRL 284 million.
Afya's ecosystem reached an impressive 301,000 active users, reflecting strong engagement and broad adoption among physicians and medical students across Brazil. In the next slide, Afya delivered a record gross margin of 63.9% in its undergraduate segment, reflecting the strength of its academic model and solid operational discipline.
The company also made significant progress on expansion initiatives, concluding the acquisition of 60 medical seats in Afya Contagem and securing authorization for an additional 102 medical seats across various regions. These developments reinforce Afya's organic growth runway and support its ability to expand with predictability.
Afya's continuing education segment saw a notable gross margin expansion of 363 basis points, while B2B revenue grew by 48% during the period, supporting the company's performance in this segment.
These impressive results demonstrate Afya's commitment to delivering high-quality medical education and healthcare solutions in Brazil. The company's continued growth and profitability make it an attractive player in the Brazilian market, with significant opportunities for expansion and innovation.
