Ouro Fino Saúde Animal Participações (OFSA3) Q3 2026 earnings summary

Executive summary

• 9M26 net revenue exceeded R$1.0bn, up 26.5% YoY, with growth across all segments and adjusted EBITDA up 26.6% to R$210.2m.

• Q3 revenue grew 20.4% YoY to R$429.3m; adjusted EBITDA rose 7.4% to R$104.8m, while adjusted EBITDA margin fell 3.0 p.p. to 24.4%.

• 9M26 adjusted net income increased 25.6% to R$101.4m, alongside R$173.5m in operating cash generation and lower net debt.

Financial highlights

• Q3 gross profit rose 17.2% YoY to R$220.8m; gross margin was 51.4%, down 1.4 p.p. YoY, mainly reflecting inventory loss provisions.

• 9M26 gross profit grew 26.5% to R$523.2m; gross margin was 51.4%, in line with 9M25.

• Q3 adjusted net income increased 18.1% to R$64.7m; adjusted net margin was 15.1%, versus 15.4% in Q3 2025.

• 9M26 reported net income was R$104.8m; adjusted net income was R$101.4m, up 25.6% YoY.

Outlook and guidance

• Entered the final phase of 2026 focused on innovation, productivity, operational excellence, brand building and market expansion.

• Strategic priorities include portfolio expansion and international growth, with a newly established Uruguay subsidiary enabling regulatory steps toward future commercial operations.