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Afya Ltd (NASDAQ:AFYA) reported second-quarter FY23 sales growth of 23.6% year-on-year to $143.88 million (R$712.2 million), beating the analyst consensus of $142.22 million.
Digital services revenue increased 28.2% quarter over quarter, totaling R$54.1 million.
Adjusted EBITDA increased 21.8% Y/Y to R$268.2 million with an adjusted EBITDA margin of 37.7%, a 50 basis points contraction.
Adjusted EPS for the quarter climbed 11.8% to R$1.42.
The company held R$741.2 million in cash and equivalents as of June 30, 2023. On June 30, 2023, Net Debt, excluding the effect of IFRS 16, totaled R$2,003.6 million.
“This quarter was marked by significant increases in Net Revenue within our three segments and we are delighted to see that the most significant growth came from our Continuing Education segment with a robust intake process, and course maturation reflecting a 50% quarter-over-quarter expansion,” said management.
Outlook Reaffirmed: Afysa sees FY23 adjusted net revenue of R$2.75 billion - R$2.85 billion.
It expects adjusted EBITDA of R$1.1 billion - R$1.2 billion.
Price Action: AFYA shares closed higher by 0.83% at $14.66 on Monday.
Posted In: AFYA
