Afya Limited announced robust financial and operating results for the third quarter and nine-month period ended September 30, 2024. The company reported a net revenue of R$841 million for Q3 2024, marking a 16% increase compared to the same period in 2023. Adjusted EBITDA for the quarter grew by 25% year-over-year, reaching R$348 million, with an Adjusted EBITDA Margin of 41.4%.
For the nine-month period, net revenue totaled R$2,455 million, up 14% year-over-year, primarily driven by higher medical tickets, the maturation of medical seats, and the Unidom acquisition. The company's approved medical seats reached 3,593, including 300 from the Unidom acquisition, 80 additional seats at UNIMA, and 10 reconsidered seats at Unigranrio. Undergraduate medical students surpassed 24,000, representing over 12% growth.
Afya also reported a record cash flow from operating activities for the nine-month period, reaching R$1,168 million, a 25% increase from the prior year, with a cash conversion of 109.7%. The company reaffirmed its full-year 2024 guidance, projecting net revenue between R$3.225 billion and R$3.325 billion, and adjusted EBITDA between R$1.375 billion and R$1.475 billion.
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