AdaptHealth Corp. (AHCO) shares surged 5.61% in pre-market trading on Tuesday following the release of its third-quarter 2025 financial results. The company reported better-than-expected revenue and maintained its full-year guidance, despite missing earnings estimates.

The home medical equipment provider announced Q3 net revenue of $820.3 million, up 1.8% year-over-year and surpassing analyst expectations of $799.3 million. Notably, organic revenue growth reached 5.1%, indicating strong underlying business performance. However, earnings per share came in at $0.16, falling short of the $0.23 consensus estimate.

Investors appear to be focusing on several positive developments outlined in the report. AdaptHealth maintained its 2025 financial guidance, signaling confidence in its future performance. The company also announced a new exclusive capitated agreement with a payor, expanding its reach to approximately 170,000 members. Additionally, AdaptHealth reported significant progress in its digital patient engagement initiatives, with registered myApp users increasing to 271,000 from 118,000 in the third quarter of 2024.

Further bolstering investor confidence, AdaptHealth continued its deleveraging efforts, reducing debt by $50 million in the quarter. This brings the total year-to-date debt reduction to $225 million, resulting in a net leverage ratio of 2.68x. The company's focus on strengthening its balance sheet while maintaining growth appears to be resonating with the market, contributing to the pre-market stock surge.