Core Insights - Afya Limited reported strong financial results for Q4 and FY 2025, achieving significant growth in net income, adjusted EBITDA, and revenue, reflecting the robustness of its business model and operational execution [1] Financial Highlights - Q4 2025 net income increased by 13.7% YoY to R$175.4 million, while adjusted net income rose by 6.3% YoY to R$205.7 million, with basic EPS growth of 14.9% [1] - FY 2025 net income reached R$768.4 million, an 18.4% increase YoY, and adjusted net income was R$901.7 million, up 9.9% YoY, with basic EPS growth of 18.7% [1] - Q4 2025 revenue grew by 7.5% YoY to R$913.0 million, and FY 2025 revenue increased by 11.9% YoY to R$3,697.3 million [1] Adjusted EBITDA and Margins - Q4 2025 adjusted EBITDA rose by 6.1% YoY to R$388.5 million, with an adjusted EBITDA margin of 42.6%, a decrease of 50 bps YoY [1] - FY 2025 adjusted EBITDA increased by 15.4% YoY to R$1,680.3 million, with an adjusted EBITDA margin of 45.4%, an increase of 130 bps YoY [1] User Growth and Ecosystem - Afya's ecosystem reached approximately 301,000 users, with a significant increase in the number of continuing education students by 8.9% and a 9.4% growth in B2P revenue for medical practice solutions [1] - The company aims to strengthen its position as a leading medical education provider in Brazil, focusing on expanding its audience and enhancing digital products [1] Capital Allocation and Shareholder Returns - Afya's strong cash generation allowed for a record free cash flow of R$1,056 million and a solid cash position of R$1,125.4 million as of December 31, 2025 [1] - The Board of Directors approved a new share repurchase program for up to 4,000,000 Class A common shares and declared a cash dividend of R$307.4 million, representing 40% of the consolidated net income for 2025 [1] 2026 Guidance - For FY 2026, Afya expects revenue to range between R$3,950 million and R$4,100 million, and adjusted EBITDA to be between R$1,700 million and R$1,800 million, excluding any acquisitions [1]

EXPERIENCE THE BEST IN MEDICINE INSTITUTIONAL PRESENTATION FY25 SAFE HARBOR This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which statements involve substantial risks and uncertainties. All statements other than statements of historical fact, could be deemed forward-looking, including risks and uncertainties related to statements about our competition; our ability to attract, upsell and retain students; our ability to increase ...

Financial Performance - Revenue reached R$2,784.3 million, a 13.4% year-over-year increase for the nine-month period[7] - Adjusted EBITDA was R$1,291.7 million, up 18.5% year-over-year, with an adjusted EBITDA margin of 46.4%, a 200 bps increase[7] - Net income increased by 19.9% year-over-year to R$593.0 million, with earnings per share at R$6.40, a 19.7% increase[7] - Cash flow from operating activities increased by 10.6% year-over-year to R$1,291.5 million, with an operating cash conversion ratio of 101.5%[7] Operational Metrics - Medical school students totaled 25,706 at the end of the period[7] - Approved medical school seats reached 3,653[7] - Continuing education revenue increased by 10.6% year-over-year to R$207.6 million[7] - Medical practice solutions revenue increased by 9.3% year-over-year to R$128.2 million[7] Debt and Liabilities - New debenture issuance of R$1.5 billion to fund repurchase of preferred shares and prepay first debenture issuance[36, 37] - Total gross debt was R$2,339 million[38] ESG Initiatives - Delivered 700,000 free healthcare consultations, including over 500,000 medical consultations[10]

Financial Performance - Revenue reached R$1,855.8 million, a 15.0% year-over-year increase[7] - Adjusted EBITDA was R$892.8 million, up 20.4% year-over-year, with an adjusted EBITDA margin of 48.1%, a 220 bps increase[7] - Net income increased by 17.0% year-over-year to R$433.6 million, with earnings per share at R$4.69, a 16.9% increase[7] - Cash flow from operating activities increased by 14.6% year-over-year to R$783.0 million[7] Operational Highlights - Medical school students increased by 14% to 25,733[9, 7] - Continuing education revenue increased by 7.9% year-over-year to R$137.5 million[7, 19] - Medical Practice Solutions revenue increased by 9.3% year-over-year to R$84.0 million[7, 22] - The number of users in Afya's ecosystem positively impacted reached 302,000[7, 25] Capital Allocation - Afya's board approved a new share repurchase program of up to 4 million Class A shares[12] Regulatory Impact - Brazil adopted OECD Pillar Two rules, potentially increasing the effective tax rate to a 15% global minimum, with an additional income tax expense of R$56.6 million for the six-month period ended in June 2025[42, 45]

Company Overview - Afya is the largest hub of medical education and solutions for medical practice in Brazil[11] - The company's mission is to provide an ecosystem that integrates education and medical practice solutions for the entire medical journey[8] - As of May 2025, Afya has 3,653 medical seats after the last acquisition of Faculdade Única de Contagem[57] - Afya holds a 9% market share of private medical seats in Brazil, with a total of 3,653 seats out of 38,450 approved medical seats[59, 60] Financial Performance (1Q25) - Net revenue reached R$936 million[62] - Adjusted EBITDA was R$492 million, representing a 52.5% adjusted EBITDA margin[62] - Adjusted net income amounted to R$294 million[62] - Medical school net average ticket was R$9,240[63] Operational Metrics (1Q25) - The company has 37 undergraduate campuses and 20 medical graduate campuses[62] - Afya has 3,593 approved medical seats and 25,879 medical students[62, 70] - Continuing education enrolled students numbered 46,909[62] - Medical Practice Solutions has 244,518 monthly active users[62] Growth and Strategy - Undergraduate programs saw a 14.5% increase in net revenue[70] - Continuing Education experienced an 8.7% increase in net revenue[77] - Medical Practice Solutions reported a 13.7% increase in net revenue[83]