On Thursday, August 13, 2026, Dasa (DASA3) released its results for the second quarter of 2026 (2Q26). Consolidated EBITDA (earnings before interest, taxes, depreciation and amortization) totaled R$ 446 million, an increase of 52.6% compared to 2Q25 considering the current scope of operations, with a margin of 20.1%. In the same period, net income remained negative, with a net loss of R$ 35 million, well below the R$ 454 million loss recorded in 2Q25 on a comparable scope.
Consolidated gross revenue reached R$ 2.414 billion in 2Q26, up 8% versus 2Q25 on a current scope basis, driven mainly by the National Diagnostics vertical, whose gross revenue was R$ 2.207 billion, an increase of 9.2%. The Hospitals and Oncology Northeast division, in turn, recorded gross revenue of R$ 208 million, a decrease of 4% on the same comparison basis. The consolidated gross margin was 27.9% in the quarter and 30.7% for the first six months of 2026.
In the six months ended June 2026 (6M26), consolidated EBITDA reached R$ 1.019 billion, an increase of 38.1% compared to 6M25 on a current scope basis, with a margin of 22.9%. Excluding the effect of equity income from Rede Américas, 2Q26 EBITDA was R$ 465 million, up 29.5% over 2Q25 on a current scope basis, and EBITDA ex-equity income in 6M26 also totaled R$ 1.019 billion, growth of 26.5% versus 6M25 on a current scope basis.
Operating cash generation in 2Q26 was R$ 347 million, compared to R$ 44 million in 2Q25, while free cash flow came to R$ 292 million, reversing the negative result of R$ 18 million in 2Q25. Year to date in 2026, operating cash generation totaled R$ 368 million and free cash flow reached R$ 297 million, compared to a negative result of R$ 114 million in the first six months of 2025.
Regarding the capital structure, gross financial debt ended 2Q26 at R$ 6.441 billion, down 21.2% versus 2Q25. Net financial debt was R$ 5.483 billion, a reduction of 19% in 12 months, and net financial debt after payables for acquisitions and receivables securitization ended the quarter at R$ 5.623 billion, a decrease of 23.4% compared to R$ 7.342 billion in 2Q25. The leverage ratio for covenant purposes stood at 3.39x Net Debt/EBITDA at the end of 2Q26, below the contractual limit of 4.0x, while the indicator calculated according to the specific covenants mentioned in the earnings release was 3.4x in the quarter.
