Ânima (ANIM3) Q2 2025 earnings summary

Executive summary

• Consolidated net revenue reached R$1,005.3 million in 2Q25 (+2.9% YoY) and R$2,045.5 million in 1H25 (+4.0% YoY), with all business segments contributing positively.

• Adjusted EBITDA ex-IFRS16 increased 4.6% in 2Q25 and 7.7% in 1H25, supporting net income growth.

• Adjusted net income attributable to controlling shareholders grew 18.9% in 2Q25 and 11.8% in 1H25 year-over-year.

• Operating cash flow reached R$352.0 million in 2Q25 (+10.6% YoY) and R$778.1 million in 1H25 (+7.0% YoY), reflecting strong cash generation and deleveraging.

• Strategic investments focused on academic quality, student experience, digital transformation, and innovation, including the launch of the Community Creators Academy.

Financial highlights

• Net revenue: R$1,005.3 million in 2Q25 (+2.9% YoY); R$2,045.5 million in 1H25 (+4.0% YoY).

• Adjusted EBITDA ex-IFRS16: R$281.3 million in 2Q25 (+4.6% YoY); R$641.9 million in 1H25 (+7.7% YoY).

• Adjusted net income: R$29.2 million in 2Q25 (+18.9% YoY); R$144.5 million in 1H25 (+11.8% YoY).

• Operating cash flow: R$352.0 million in 2Q25 (+10.6% YoY); R$778.1 million in 1H25 (+7.0% YoY).

• All segments posted higher net revenues and operating results year-over-year.

Outlook and guidance

• Focus on sustainable, quality-driven revenue growth, efficiency, and organic deleveraging.

• Management optimistic about regulatory changes in Distance Learning and ready to capture new opportunities.

• Investments in academic quality and student experience expected to sustain high operating margins.

• Seasonality in cash generation expected, with robust performance in odd-numbered quarters.