AdaptHealth smashes records with $3.25B revenue and bold 2026 growth plans

AdaptHealth Corp. has reported strong financial results for 2025, with record revenue and patient numbers. The company's latest earnings show growth in key areas, driven by a major contract and new technology improvements. Management has also raised expectations for 2026 after securing a key news deal.

The company achieved total net revenue of $3.25 billion in 2025, up 22% from the previous year. A major factor was a nationwide capitation contract signed in 2024 with a leading Medicare Advantage payer—the largest of its kind. This agreement helped expand patient volumes and lifted AdaptHealth's market share from 12% to 18% by the end of 2025.

Adjusted EBITDA reached $616.7 million, while free cash flow came in at $219.4 million. The company also saw a record patient census in sleep and respiratory health services. However, revenue in the diabetes segment declined due to changes in payer mix.

In addition to financial gains, AdaptHealth received a $14.5 million legal settlement in 2025. The company also expanded its reach through the acquisition of a Hawaii-based provider, adding new state coverage and supporting future contract transitions on the West Coast.

AI technology pilots reduced order processing and patient call times, improving efficiency. Looking ahead, management now expects 2026 revenue growth of 6%-8%, up from earlier forecasts. Plans include regional expansions into underserved Midwest and Southwest markets by 2027, along with partnerships with telehealth providers like Teladoc for better integrated care.

AdaptHealth Corp. has strengthened its position in the US home health sector through contracts, acquisitions, and technology. The company's 2026 outlook reflects confidence in continued growth, supported by higher revenue projections and strategic expansions. New partnerships and regional moves are set to further broaden its market presence.