Ardent Health reported full-year 2025 net income of $230.1 million, down from $299.7 million in 2024, while adjusted EBITDA fell to $447.3 million from $498.5 million.
The company’s interest expense declined to $55.2 million from $65.6 million, and income tax expense eased to $56.2 million from $63.4 million. Depreciation and amortization rose to $155.7 million from $146.3 million.
Noncontrolling interest earnings increased to $94.3 million from $89.4 million, and equity-based compensation more than doubled to $39.3 million from $18.0 million. Epic-related expenses rose to $4.8 million from $3.2 million, while restructuring, exit and acquisition-related costs edged up to $13.3 million from $12.8 million.
Cybersecurity incident recoveries, net, were $22.7 million in 2025, slightly higher than $21.5 million in 2024. Loss on extinguishment and modification of debt increased to $7.3 million from $3.4 million. Other non-operating gains swung to a loss of $1.1 million from a gain of $4.9 million a year earlier.
For the fourth quarter, Ardent posted net income of $74.3 million and adjusted EBITDAR of $175.7 million. Rent expense payable to REITs totaled $41.8 million in the quarter and $164.3 million for the full year.
Adjusted EBITDAR for 2025 reached $611.6 million. Today the company's shares have moved 1.39% to a price of $10.91. For more information, read the company's full 8-K submission here.
