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Raia Drogasil (RADL3) investor relations material
Raia Drogasil Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary5 Nov, 2025
Executive summary
Achieved consolidated gross revenue of R$12.1 billion in 3Q25, up 12.7% year-over-year, with retail revenue up 15.5% and digital revenue up 62%.
Expanded to 3,453 pharmacies, adding 88 new stores and closing 6, reaching 51 million active customers and presence in 653 cities.
Market share increased to 16.8% nationally, with gains in all regions and 30.3% in São Paulo.
Digital sales surged 62% to R$3.0 billion, representing 26.7% of retail revenue, with 97% of orders delivered or collected in under 60 minutes and 81% via app.
Adjusted EBITDA grew 12.2% to R$909 million, with a stable margin of 7.5%, and adjusted net income rose 19.3% to R$402 million.
Financial highlights
Gross profit reached R$3,314 million, with a gross margin of 27.4%, slightly down 0.2 pp year-over-year due to one-off ICMS gains in 3Q24.
Free cash flow was R$648 million, with total cash generation of R$558 million.
Selling expenses were R$2,095 million (17.3% of gross revenue), up 0.2 pp, while G&A expenses fell to 2.6%, a 0.4 pp improvement.
Adjusted EBITDA margin stable at 7.5%; retail margin at 7.9%, 4Bio margin at 2.2%.
Net income was R$476 million, up from R$362 million in 3Q24.
Outlook and guidance
Reiterated guidance of 330-350 gross pharmacy openings for 2025, with continued market share gains and focus on omnichannel integration and operational efficiency.
Plans to recover 4Bio sales growth with a new distribution center in Espírito Santo in 2026.
Management is optimistic for Q4 and 2026, expecting continued double-digit digital growth and further market share gains.
Black Friday campaign expected to outperform last year, with better preparation and industry partnerships.
GLP-one drug category expected to reach double-digit sales penetration as supply increases and generics enter the market.
What GLP-1 economics post-patent expiry
SG&A efficiency drivers and sustainability
4Bio revenue recovery timeline post-DC opening
GLP-1 market expansion & economics?
4Bio revenue recovery timeline?
Sustaining G&A efficiency gains?
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Next Raia Drogasil earnings date
Q4 20255 Mar, 2026
Next Raia Drogasil earnings date
Q4 20255 Mar, 2026
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Frequently asked questions
Raia Drogasil S.A. is a Brazilian retail pharmacy chain engaged in the sale of pharmaceutical products, health and wellness items, and personal care products. The company operates an extensive network of pharmacies under the Drogasil and Droga Raia brands, providing customers with a range of medications, beauty products, and healthcare services. Raia Drogasil emphasizes customer convenience, with both physical stores and an e-commerce platform to serve consumers throughout Brazil. The company is headquartered in São Paulo, Brazil, and its shares are listed on the B3 Stock Exchange.
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