Afya Reports Q3 2026 Growth Driven by Undergraduate Segment and Medical Seat Expansion
Afya Limited (AFYA) reported strong third-quarter 2026 financial results, highlighted by a 6% increase in revenue to BRL 985 million. This growth was primarily driven by the undergraduate segment, which helped expand adjusted EBITDA margins to 44%. The company also saw significant operational expansion, with medical seats increasing by 5% and total ecosystem users reaching 300,000 active users. Despite the positive top-line performance, management noted some headwinds, including margin compression in Continuing Education and Medical Practice Solutions due to ongoing investment cycles. Additionally, a 64% increase in FIES funding balances has impacted trade receivables and working capital. However, Afya maintains a strong liquidity position with an operating cash conversion rate of 99.5% and a healthy net debt-to-EBITDA leverage ratio of 0.7x.
Tickers: $AFYA
Topics: EBITDA Margin Medical Education Net Income Revenue Growth Undergraduate Segment