Addus HomeCare Corporation reported significant financial growth in its latest quarterly filing, with net service revenues reaching $349.4 million for the three months ended June 30, 2025, a 21.8% increase from $286.9 million in the same period last year. For the six months ended June 30, 2025, revenues totaled $687.2 million, up 21.0% from $567.7 million in 2024. The company's net income also rose, reaching $22.1 million for the second quarter, compared to $18.1 million in the prior year, and $43.3 million for the first half of 2025, up from $33.9 million in 2024.
The growth in revenue was primarily driven by the personal care segment, which saw an increase of $56.4 million, largely attributed to the Gentiva Acquisition completed in December 2024. The hospice segment also contributed with a revenue increase of $6.2 million, while the home health segment remained stable at approximately $18.1 million. The gross profit margin improved slightly to 32.6% for the second quarter, up from 32.5% in the previous year, reflecting a favorable shift in service mix and the impact of the New York Asset Sale.
In terms of operational metrics, Addus HomeCare served approximately 78,000 individuals during the first half of 2025, an increase from 70,000 in the same period of 2024. The company operates in 23 states through 260 offices, with a notable presence in Illinois, New Mexico, Ohio, Tennessee, and Texas. The Illinois Department on Aging remains a significant payor, accounting for 18.6% of net service revenues in the second quarter of 2025.
Strategically, Addus HomeCare has been active in expanding its footprint through acquisitions, including the recent Jacksonville and Great Lakes acquisitions, which added to its personal care segment. The company also divested its New York operations, which allowed it to streamline its focus on more profitable areas. Looking ahead, Addus HomeCare anticipates continued growth driven by its strategic acquisitions and an increasing demand for home care services, although it remains cautious about potential impacts from macroeconomic conditions and changes in reimbursement rates from government programs.
About Addus HomeCare Corp
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