Filing Flows › AdaptHealth (AHCO) › Q1 2025
AdaptHealth (AHCO) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 6, 2025
AdaptHealth (AHCO) reported revenue of $778M for the first quarter 2025 (Q1 2025), -2% from a year earlier and -9% from the quarter before. Operating margin was 3.0%, net loss $6.1M (0.8% of revenue).
AdaptHealth, Q1 2025: revenue $778M (-2% year over year), operating margin 3.0%, net loss $6.1M, operating cash flow $95.5M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $778M | -9% | -2% |
| Operating profit | $23.2M | — | — |
| Net earnings | −$6.1M | — | — |
| Operating cash flow | $95.5M | -36% | +95% |
What changed
Revenue was $777.9M in Q1 2025, down 2% year over year and down 9% from the previous quarter. Sleep Health was the largest line at 41% of revenue. Diabetes Health lost $12.0M year over year (down 8%), 82% of the total change.
Operating profit was $23.2M, a 3.0% margin (down 3.4 points year over year). Total costs grew 2% against a revenue fall of 2%. The quarter ended with a net loss of $6.1M, after a profit of $51.4M the previous quarter. Net interest and other expense of $28.4M was the main reason.
Operating cash flow was $95.5M (up 95% year over year). Non-cash charges added back $94.3M of depreciation and amortization and $5.3M of share-based compensation. Capital expenditures of $95.6M exceeded it, leaving free cash flow of −$58K.
Questions
What was AdaptHealth's revenue in the first quarter 2025?
AdaptHealth (AHCO) reported revenue of $778M for the first quarter 2025 (Q1 2025), -2% from a year earlier and -9% from the quarter before.
Was AdaptHealth profitable in the first quarter 2025?
Operating profit was $23.2M (3.0% of revenue) and net loss $6.1M.
Source: AdaptHealth 10-Q on SEC EDGAR.