AdaptHealth reports Q4 net loss $102.8M, FY net loss $70.8M; guides FY2026 rev up to $3.51B, EBITDA $680-730M

AdaptHealth Corp.

2025-FY EPS reported -$0.52 revenue$3,244,857,000

Full-year 2025 net loss $70.8M vs net income $90.4M in 2024; includes $128M goodwill impairment.
Q4 2025 net revenue $846.3M (-1.2% YoY); Adjusted EBITDA $163.1M (-18.7%).
FY 2025 Adjusted EBITDA $616.7M (-10.5%); free cash flow $219.4M.
2026 guidance: Net revenue $3.44B-$3.51B, Adjusted EBITDA $680M-$730M, free cash flow $175M-$225M.
Debt reduced $250M in FY 2025; credit upgrades from S&P and Moody's; patient census records set.

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