Ânima (ANIM3) Q2 2025 earnings summary

Executive summary

• Consolidated net revenue grew 2.9% in 2Q25 and 4.0% in 1H25 year-over-year, with all business segments contributing positively.

• Adjusted EBITDA ex-IFRS16 increased 4.6% in 2Q25 and 7.7% in 1H25, supporting net income growth and margin expansion.

• Adjusted net income attributable to controlling shareholders rose 18.9% in 2Q25 and 11.8% in 1H25 year-over-year.

• Operating cash flow reached R$352.0 million in 2Q25 (+10.6% YoY) and R$778.1 million in 1H25 (+7.0% YoY), with leverage reduced to 2.66x net debt/EBITDA ex-IFRS16 LTM.

• Strategic investments included the launch of the Community Creators Academy, acquisitions in medical education, and increased CAPEX focused on innovation and growth.

Financial highlights

• Net revenue: R$1,005.3 million in 2Q25 (+2.9% YoY); R$2,045.5 million in 1H25 (+4.0% YoY).

• Adjusted EBITDA ex-IFRS16: R$281.3 million in 2Q25 (+4.6% YoY); R$641.9 million in 1H25 (+7.7% YoY).

• Adjusted net income: R$29.2 million in 2Q25 (+18.9% YoY); R$144.5 million in 1H25 (+11.8% YoY).

• Operating cash flow: R$352.0 million in 2Q25 (+10.6% YoY); R$778.1 million in 1H25 (+7.0% YoY).

• Adjusted EBITDA margin ex-IFRS16: 28.0% in 2Q25 (+0.5pp YoY); 31.4% in 1H25 (+1.1pp YoY).

Outlook and guidance

• Management remains focused on sustainable revenue growth, operational efficiency, and quality, with optimism regarding regulatory changes in Distance Learning.

• Strategic positioning in hybrid and face-to-face education expected to benefit from new regulations, especially in Health and Engineering.

• Ongoing investments in innovation, including the launch of Community Creators Academy.