- Adjusted EBT of R$ 568 million
had a 75% increase compared to the same quarter of 2023
- Total Payment Volume (TPV) of SMEs had an annual growth of
24%, considering also PIX transactions
SÃO PAULO, May 13, 2024
/PRNewswire/ -- StoneCo Ltd. (Nasdaq: STNE, B3: STOC31) reported
adjusted net income of R$ 450 million
in the first quarter, a 90% increase over the same time last year.
The company's total revenue reached R$ 3.1
billion, a 14% year-over-year growth. Adjusted net cash was
R$ 5.1 billion, an increase of
R$ 87 million in the quarter and
R$ 1.2 billion in the year. The
adjusted EBT of R$ 568 million
represents a 75% increase compared to 1Q23, with an adjusted EBT
margin of 18.4%.
Financial services revenue reached R$ 2.7
billion in 1Q24, 16% higher than the previous year, with
Total Processed Volume (TPV) of SME (small and medium-sized
enterprises) clients growing by 24% year over year, including PIX
P2M processed volume. The segment showed a 15 bps increase in take
rate year over year, resulting from significant contributions from
all our financial platform solutions. The SME customer base grew by
33% on an annual basis, reaching 3.7 million active customers.
In the first quarter of the year, the banking platform also
showed growth, with deposits reaching R$ 6
billion, a 53% increase compared to the same time in
2023. In the credit solution, working capital grew by 72% quarter
over quarter, reaching a portfolio of R$ 532
million.
In the software area, the integration strategy continues with a
focus on priority verticals. Software revenue grew by 3% year over
year, and Adjusted EBITDA reached R$ 66
million in 1Q24, with a margin of 17.8%, compared to
Adjusted EBITDA of R$ 40 million and
a margin of 11.1% in 1Q23.
"The first quarter represents a great start to a year in which
we expect significant strategic evolution and solid results.
We experienced healthy growth in TPV combined with a
significant increase in take rate, a result of increasingly
engaging with our customers and our ability to deliver better
bundles that combine our multiple product platforms, such as
payments, banking, credit and software. We are pleased to report
strong profitability growth, reflecting our dedication to the
consistency and solidity of the business," says Pedro Zinner, CEO of Stone.
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SOURCE Stone