Aveanna Healthcare Holdings (NASDAQ:AVAH) announced its financial results for the fourth quarter and full fiscal year ended December 31, 2025, reporting a period of accelerated growth and significant margin expansion.
The company, a leading diversified home care platform, generated fourth-quarter revenue of $662.5 million, a 27.4% increase over the prior-year period.
Full-year revenue reached $2.433 billion, up 20.2% year-over-year, driven by strong volumes in its Private Duty Nursing (PDN) and Medical Solutions segments.
The company’s focus on operational efficiency and optimized payer rates led to an even more pronounced jump in profitability.
Fourth-quarter adjusted EBITDA rose 54% to $85 million, while full-year adjusted EBITDA surged 74.8% to $320.9 million.
Net income for the final quarter reached $178.8 million, reflecting both improved operating leverage and a stable labor environment that has allowed Aveanna to better meet the high demand for home-based clinical care.
Strategic expansion remains a core pillar of Aveanna’s value creation strategy.
During the earnings call, the company announced the $175.5 million acquisition of Family First Homecare, a move expected to close in the second quarter of 2026.
This acquisition is anticipated to deepen Aveanna’s presence in key geographic markets and add high-margin pediatric clinical capabilities to its existing platform.
Despite a total indebtedness of $1.486 billion, the company demonstrated strong liquidity with $131 million in free cash flow, providing the flexibility to fund its growth initiatives while managing its debt profile.
Looking ahead, Aveanna maintained its fiscal 2026 guidance, projecting total revenue in the range of $2.54 billion to $2.56 billion and adjusted EBITDA between $318 million and $322 million.