Afya Limited (AFYA) Earnings
Afya Limited is expected to report next earnings on August 12, 2026 (in NaN days), with a consensus EPS estimate of $0.42. AFYA has beaten EPS estimates in 8 of its last 12 reported quarters (average surprise +11.9% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 7, 2026 | $0.53 | $0.56 | +5.7% | $193M | -4.5% |
| Mar 12, 2026 | $0.33 | $0.41 | +23.4% | $169M | -11.8% |
| Nov 12, 2025 | $0.32 | $0.38 | +18.8% | $174M | -0.3% |
| Aug 13, 2025 | $0.40 | $0.40 | +0.0% | $169M | -2.2% |
| May 8, 2025 | $0.46 | $0.55 | +19.6% | $160M | -3.1% |
| Mar 13, 2025 | $0.34 | $0.36 | +5.9% | $137M | -14.7% |
| Aug 15, 2024 | $0.37 | $0.44 | +18.9% | $145M | +1.2% |
| May 9, 2024 | $0.47 | $0.55 | +17.0% | $159M | +1.1% |
| Mar 14, 2024 | $0.34 | $0.36 | +5.9% | $148M | -0.4% |
| Nov 13, 2023 | $0.31 | $0.28 | -9.7% | $143M | -6.7% |
| Aug 28, 2023 | $0.33 | $0.29 | -12.1% | $147M | -4.0% |
| May 24, 2023 | $0.39 | $0.34 | -12.8% | $139M | -4.2% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · May 7, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
• Revenue increased 8% to R$ 1,013,000,000, adjusted EBITDA grew 4% to R$ 511 million with 50.5% margin, free cash flow R$ 376 million (3% increase), net income R$ 262 million (2% growth), EPS R$ 2.88 (3% increase). • Operating medical school seats at 3,768 (+6% YoY), undergrad medical students over 26,000 (+2% QoQ), medical school net average ticket up almost 5% to 9,634 reais. • Continual education revenue up 11% to R$ 79 million, medical practice solutions revenue up 4% to over R$ 43 million. • Ecosystem has 304,000 active users.
Guidance
• Revenues increased 8% in Q1 2026. • Adjusted EBITDA grew 4% year-over-year. • Free cash flow had 3% increase. • Net income had 2% growth. • Guidance already considers impacts on second semester related to ANAMED which are minimum and not material.
Segment performance
Undergrad segment: Revenue soared 8% to 892 million reais, 86% related to medicine and 94% from health-related courses; medical student base grew 2% to 26,000 students; operating medical school seats increased over 6% to 3,768; medical school net average ticket increased 5% to 9,634 reais. Continual education segment: B2B revenue reached 74 million reais in Q1 2026, record student base of 57,000 students, revenue rose 11% to 79 million reais. Medical practice solution segment: B2B revenue grew 17%, 4% growth in revenue to over 43 million reais, 38 million reais from D2P with 3% increase, 5 million reais from another part with 70% increase over same quarter last year; total active payers declined 1%, most active users reduced 10%. Ecosystem: 304,000 active users among physicians and medical students.
Analyst Q&A
Q: The release mentions intake cycle was successful with 4.6 price increase, comment on competitive environment and whether it got worse compared to previous years; also on drivers for net revenue growth from non - medical undergraduate students and strategy change.
A: Virgilio mentioned first half intake was strong, same level of candidates proceed, recognition of brand and centralized intake process helped, second half intake also has better leads than same period last year; on non - medical undergrad, AFA's brand is connected to health sector, opening health programs in campuses for low additional capex and strong intake.
Q: Update on ENA - MED talks and impacts, and M&A environment in medical schools.
A: Regarding ENA - MED, doing strong initiative to increase student engagement, 30 mock - up tests, adapting curriculum, expectation of better results; on M&A, focus on medicine - generating good return on capital, targets with >60% revenue from medicine programs, IRR above 20% on leverage, keep 200 seats per year growth and disciplined on capital allocation.
Q: On medical practice solutions investments, number of payers decline, timing for recovery and initiatives on white book.
A: Investing more on NPS, integrating products, AI - based features, building AFIA One platform; capex concentrated on intangible assets this quarter; focused on audience in Whitebook this year, impact on active payers and revenues not big this year but from 2027 ahead.
Q: On sales and marketing expenses increase this quarter, reason and future color.
A: Two main reasons, anticipation of intakes for first half due to ANAMED, more market effort on SPM and Educom for strengthening position, increase is under program and embedded in guidance for the year