Addus HomeCare Corporation reported significant financial growth in its latest quarterly results, with net service revenues reaching $362.3 million for the three months ended September 30, 2025, a 25% increase from $289.8 million in the same period last year. For the nine months ending September 30, 2025, revenues totaled $1.05 billion, up 22.4% from $857.5 million in 2024. The company's net income also rose, reaching $22.8 million for the third quarter, compared to $20.2 million in the prior year, and $66.1 million for the nine-month period, up from $54.1 million.
The growth in revenue was primarily driven by the company's personal care segment, which saw an increase of $60.3 million, attributed to the Gentiva Acquisition completed in December 2024 and the Helping Hands Acquisition in August 2025. The hospice segment also contributed to the revenue growth, with an increase of $11.6 million due to organic growth. The gross profit margin improved slightly to 32.2% for the third quarter, up from 31.8% in the previous year, reflecting a favorable shift in the revenue mix towards higher-margin services.
In terms of operational developments, Addus HomeCare expanded its geographic footprint and service offerings through several acquisitions. The company completed the Helping Hands Acquisition for approximately $21.4 million, enhancing its presence in the personal care, hospice, and home health markets in Pennsylvania. Additionally, the company divested its New York operations, which allowed it to streamline its focus on more profitable segments. As of September 30, 2025, Addus operated in 23 states with 265 offices, serving approximately 96,000 individuals, an increase from 80,000 in the prior year.
The company reported a total employee headcount of 18,483 as of September 30, 2025, up from 18,148 at the end of 2024. This increase reflects the company's ongoing efforts to recruit and retain qualified personnel amid a competitive labor market. The company also noted that it utilized $5.5 million of American Rescue Plan Act (ARPA) funding during the nine months ended September 30, 2025, primarily for caregiver support and recruitment efforts.
Looking ahead, Addus HomeCare remains optimistic about its growth trajectory, driven by strategic acquisitions and an expanding service portfolio. However, the company acknowledged potential risks related to macroeconomic conditions, including inflation and labor market challenges, which could impact its operational performance and reimbursement rates. The company is committed to maintaining compliance with its financial covenants and managing its liquidity effectively as it navigates these challenges.
About Addus HomeCare Corp
Addus HomeCare Corporation provides in-home personal care, hospice, and home health services primarily to elderly, chronically ill, and disabled individuals, focusing on those eligible for Medicare and Medicaid. Operating across multiple U.S. states, it partners with government agencies, managed care organizations, and private payors to deliver cost-effective, coordinated care that supports consumer independence, improves health outcomes, and reduces institutionalization through a technology-enabled, outcomes-driven model.
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