)
Edge28 Nov 2025
Keeping the Streak Alive: The Story of Duolingo
How Duolingo made language learning addictive, scaled to millions of users, and built a powerful subscription business around everyday practice.
Hapvida Participacoes e Investimentos (HAPV3) investor relations material
Hapvida Participacoes e Investimentos Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary13 Nov, 2025
Executive summary
Net revenue reached R$7.8 billion in Q3 2025, up 6.0% year-over-year and 1.3% sequentially, driven by health plan price adjustments and beneficiary growth.
Adjusted EBITDA was R$746.4 million (9.6% margin), down 2.1% year-over-year; excluding one-offs, adjusted EBITDA was R$613 million.
Adjusted net income reached R$338 million, up 4.1% year-over-year; excluding one-offs, adjusted net income was R$249.8 million.
Health beneficiaries increased by 12.6k sequentially, totaling 8,868.9k, with robust corporate growth but net reductions in São Paulo and Rio de Janeiro due to competition.
Customer satisfaction and quality of care metrics improved, including ANS ranking, IGR, and lower complaint rates.
Financial highlights
Net revenue was R$7,775 million, with a 6.0% year-over-year increase.
Cash MLR was 75.2%, up 130–144 bps year-over-year and quarter-over-quarter, reflecting higher utilization and seasonality.
Adjusted EBITDA margin was 9.6% (reported) and 7.9% (excluding one-offs).
Net debt increased to R$4.25 billion, with leverage at 1.00x EBITDA LTM.
CapEx was R$225 million, up 14.1% sequentially and 24.6% year-over-year.
Outlook and guidance
Margin recovery and cost dilution are expected as new units mature, occupancy increases, and pricing adjustments averaging 10% take effect.
Management expects MLR pressure to be transitory, with benefits from network expansion and operational improvements anticipated throughout 2026.
Financials are based on IFRS 4 for comparability; future results may differ under IFRS 17.
What MLR impact is permanent from service quality?
When will new unit costs dilute into MLR?
How will growth initiatives counter competition?
Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.
Next Hapvida Participacoes e Investimentos earnings date
Q4 202520 Mar, 2026
Next Hapvida Participacoes e Investimentos earnings date
Q4 202520 Mar, 2026
The essential earnings season companion
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
)
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
)
)
Frequently asked questions
Hapvida Participações e Investimentos S.A. is a healthcare services company specializing in managed care and health insurance. The company operates a network of hospitals, clinics, and diagnostic centers, providing medical and dental care to insured members. The company is headquartered in Fortaleza, Brazil, and its shares are listed on the B3.
Quartr provides global coverage of all investor relation material from public companies.
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Yes, the Quartr mobile app is free on both iOS and Android.
Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.
Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.
Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.
Explore our global coverage