Addus(US:ADUS)2025-11-03 21:36Financial Performance - Net service revenues increased by 25.0% to $362.3 million in Q3 2025 compared to $289.8 million in Q3 2024[2] - Net income for Q3 2025 was $22.8 million, or $1.24 per diluted share, up from $20.2 million, or $1.10 per diluted share in Q3 2024[2] - Adjusted EBITDA rose by 31.6% to $45.1 million in Q3 2025 from $34.3 million in Q3 2024[2] - Adjusted net income for the first nine months of 2025 was $82.1 million, compared to $65.9 million in the same period of 2024[2] - Net income for the nine months ended September 30, 2025, was $66.1 million, up 22.3% from $54.1 million in the same period of 2024[20] - Operating income for the nine months ended September 30, 2025, was $96.3 million, a 27% increase from $75.8 million in the same period of 2024[20] - Adjusted net income for Q3 2025 was $28,723 million, representing a 20.5% increase from $23,780 million in Q3 2024[28] - Net income per diluted share for Q3 2025 was $1.24, compared to $1.10 in Q3 2024, reflecting a 12.7% increase[28] - Adjusted net income per diluted share for Q3 2025 was $1.56, up 20% from $1.30 in Q3 2024[28] Revenue Growth - Personal care business accounted for 76.1% of total revenues in Q3 2025, with organic revenue growth of 6.6%[5] - Hospice care revenue grew by 19.0% in Q3 2025, driven by increases in admissions and revenue per patient day[6] - Personal Care segment generated $275.8 million in Q3 2025, a 28% increase from $215.4 million in Q3 2024[24] - Hospice segment revenues grew by 20.3% year-over-year in Q3 2025, reaching $68.9 million compared to $57.3 million in Q3 2024[24] - Net service revenues for Q3 2025 reached $362.3 million, a 25% increase from $289.8 million in Q3 2024[20] - Adjusted net service revenues for the nine months ended September 30, 2025, totaled $1,049,439 million, up 22.4% from $857,259 million in the same period of 2024[28] Operational Metrics - Average billable census total increased to 50,480 in Q3 2025, compared to 37,701 in Q3 2024, reflecting a significant growth in service capacity[26] - Gross profit margin improved to 32.2% in Q3 2025 compared to 31.8% in Q3 2024[20] - Cash flow from operations was $51.3 million in Q3 2025, with cash on hand of $101.9 million[9] - Cash at the end of Q3 2025 was $101.9 million, down from $222.9 million at the end of Q3 2024[22] - Total assets increased to $1.42 billion as of September 30, 2025, compared to $1.15 billion in 2024, reflecting strong growth in the company's financial position[22] Strategic Activities - The company completed the acquisition of Del Cielo Home Care Services for $7.4 million on October 1, 2025, which serves approximately 700 clients[7] - The company expects continued growth supported by favorable trends in home-based care and strategic acquisitions[11] - The company served 23 states at the end of Q3 2025, up from 21 states at the end of Q3 2024, indicating market expansion[26] Expenses - Acquisition expenses for Q3 2025 amounted to $2,012 million, consistent with $2,072 million in Q3 2024[28] - Stock-based compensation expense for Q3 2025 was $4,286 million, an increase from $2,833 million in Q3 2024[28] - The company reported restructuring and other non-recurring costs of $1,500 million for Q3 2025, with no such costs reported in Q3 2024[28]