AdaptHealth Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	3,287	3,245	3,261	3,200	2,971	2,455
Revenue Growth (YoY)	1.24%	-0.49%	1.90%	7.73%	21.02%	132.35%
Cost of Revenue	2,687	2,636	2,580	2,576	2,390	2,009
Gross Profit	600.26	609.2	681.09	624.07	580.12	445.61
Selling, General & Admin	391.35	382.29	359.24	334.59	324.81	167.51
Depreciation & Amortization Expenses	40.33	40.64	45.05	57.09	64.89	63.1
Other Operating Expenses	128	128	13.08	830.79	-	-
Total Operating Expenses	559.67	550.93	417.36	1,222	389.7	230.6
Operating Income	73.19	90.87	263.73	-598.4	190.41	225.61
Interest Expense	-102.95	-105.75	-126.67	-130.3	-109.41	-95.2
Other Non-Operating Income (Expense)	32.88	32.88	-3.5	-4.92	-16.91	-100.93
Total Non-Operating Income (Expense)	-70.07	-72.88	-130.17	-135.22	-126.32	-196.12
Pretax Income	-30.03	-15.15	136.02	-723.78	97.9	190.96
Provision for Income Taxes	-1.69	50.88	41.24	-49	24.77	32.81
Net Income	-79.63	-70.79	90.42	-678.9	69.32	156.18
Minority Interest in Earnings	4.8	4.76	4.36	4.12	3.82	1.98
Net Income to Common	-79.63	-70.79	90.42	-678.9	69.32	156.18
Net Income Growth	-	-	-	-	-55.62%	-
Shares Outstanding (Basic)	135	135	134	134	147	126
Shares Outstanding (Diluted)	136	135	136	134	210	133
Shares Change (YoY)	0.30%	-0.28%	0.83%	-36.01%	57.89%	153.46%
EPS (Basic)	-0.61	-0.52	0.62	-5.06	0.47	1.12
EPS (Diluted)	-0.62	-0.52	0.61	-5.31	0.33	0.67
EPS Growth	-	-	-	-	-50.75%	-
Shares Outstanding	136.01	132.52	131.67	132.64	134.44	133.84
Free Cash Flow	191.95	219.38	235.78	143.2	-17.56	72.37
Free Cash Flow Growth	-12.50%	-6.96%	64.65%	-	-	-53.57%
Free Cash Flow Per Share	1.41	1.62	1.74	1.07	-0.08	0.54
Gross Margin	18.26%	18.77%	20.89%	19.50%	19.53%	18.15%
Operating Margin	2.23%	2.80%	8.09%	-18.70%	6.41%	9.19%
Profit Margin	-2.28%	-2.04%	2.91%	-21.09%	2.46%	6.44%
FCF Margin	5.84%	6.76%	7.23%	4.47%	-0.59%	2.95%
EBITDA	467.24	472.8	629.07	-215.62	541.59	483.66
EBITDA Margin	14.22%	14.57%	19.29%	-6.74%	18.23%	19.70%
EBIT	73.19	90.87	263.73	-598.4	190.41	225.61
EBIT Margin	2.23%	2.80%	8.09%	-18.70%	6.41%	9.19%
Effective Tax Rate	5.62%	-335.78%	30.32%	6.77%	25.30%	17.18%

Updated May 5, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q