Ânima (ANIM3) Q3 2025 earnings summary

Executive summary

• Q3 2025 net revenue grew 7.2% year-over-year to over BRL 1 billion, with nine-month revenue surpassing BRL 3 billion, reflecting robust growth across all segments.

• Adjusted EBITDA ex-IFRS16 increased 14.4% to BRL 303 million in Q3 2025, with margin above 30%, marking a historical record.

• Net income attributable to controllers rose 87.9% year-over-year in Q3 2025, reaching BRL 36.5 million.

• Cash generation increased 26% in Q3 2025, supporting deleveraging and reducing leverage to 2.40x, the lowest since the Laureate integration.

• Achieved sustainable growth and improved profitability through quality, efficiency, and innovation.

Financial highlights

• Consolidated net revenue reached BRL 1,006 million in Q3 2025 (+7.2% YoY); nine-month revenue was BRL 3.05 billion (+5.0% YoY).

• Adjusted EBITDA ex-IFRS16 was BRL 303 million in Q3 2025 (+14.4% YoY), with margin above 30%.

• Net income attributable to controllers was BRL 36.5 million in Q3 2025 (+87.9% YoY), and BRL 141.8 million in 9M25 (+104.6% YoY).

• Operating cash flow increased 26% to BRL 381.7 million in Q3 2025.

• Net debt reduced by BRL 82 million over 12 months, from BRL 2,888 million to BRL 2,809 million.

Outlook and guidance

• Focus on administrative efficiency, quality, and innovation to drive revenue and margin growth.

• Asset-light expansion through strategic partnerships in hybrid education, targeting growth for the first semester of 2026.

• Regulatory changes in distance learning seen as an opportunity for hybrid and in-person expansion.

• M&A remains a key avenue for growth, with ongoing assessment of opportunities as leverage decreases.