Strong Hospice Segment Growth
The hospice segment experienced strong momentum with revenue growth of 19.4% year-over-year and adjusted EBITDA growth of 54%. Total admissions grew 8.7% year-over-year with same-store up 5.7%. Census grew 12.3% with 10.7% same-store growth.
Successful Payer Contract Negotiation
A renegotiated national payer contract resulted in a low double-digit increase in the per visit rate, effective August 15, 2025. This contract will now be considered a payer innovation contract, which is expected to encourage more referrals.
Debt Reduction and Improved Liquidity
The company continued to deleverage its balance sheet with $50 million in debt prepayments through Q3 2025, reducing annual cash interest expense by $10 million. Available liquidity improved to $113.5 million.
Improved Financial Performance
Consolidated net service revenue increased by 2.1% year-over-year to $266.1 million, and adjusted EBITDA grew by 6.7% to $26.9 million. The company also reported a 2.6% sequential increase in home health revenue.