The company bet all quarterly guidance lines; Adjusted
net income of R$ 76 million was 48%
higher vs. previous quarter on a comparable basis
SÃO PAULO, Aug. 18,
2022 /PRNewswire/ -- Today, August 18, StoneCo Ltd. (Nasdaq: STNE) reported
its financial results for the second quarter of 2022. The
highlights are net revenues of R$ 2.3
billion, 5% above the guidance, and pre-tax earnings of
R$ 107 million, 19% above the
guidance. Revenue growth was driven by a 101.5% year on year rise
in revenues from the Financial Services segment, which reached
R$ 1.9 billion, combined with a 23%
increase in revenues from the Software segment, which reached
R$ 351 million. The company expects
to continue consistently growing revenue and expanding margins
throughout 2022.
Consolidated adjusted EBT (earnings before taxes) was
R$ 107 million, up 29.4% vs. the
first quarter of the year, and 19% above the guidance of
R$ 90 million. The EBT improvement is
related to continuous efforts to adjust the company's pricing
policy to the new interest rates reality, combined with efficiency
gains in terms of costs and expenses. Adjusted net income was
R$ 76.5 million, while net margin
improved to 3.3% in 2Q22. This compares to 1Q22 adjusted net income
of R$ 51.7 million. Stone focus
remains on balancing growth and profitability, mainly in micro,
small and medium-sized businesses (MSMB) operations.
Total payment volume (TPV) grew 50% year on year, reaching
R$ 91 billion in 2Q22. For MSMBs, the
TPV was R$ 69.9 billion, a 78%
increase YoY. Performance was driven by continued growth of the
active payment solution's customer base, which grew 94% year on
year and surpassed the 2 million-customer milestone. The take rate
for MSMBs continues to expand, reaching 2.09% in 2Q22, against
2.06% in 1Q22 and 1.71% in 4Q21, as the company continued to adjust
prices following recent interest rate increases in Brazil.
At its banking platform, Stone grew the client base by 55%
year on year and reached 526,100 active customers. "Our average
monthly revenue per active client (ARPAC) has tripled in one year.
We recorded R$ 2.3 billion in
deposits, a 170% increase year on year. Our clients use our
ecosystem to pay bills, make transactions, accept Pix, make card
payments, purchase insurance, or look for other solutions for their
businesses", says Stone's CEO, Thiago
Piau.
Scenario for 3Q22
For the third quarter, Stone expects to continue expand
revenue and profitability:
- Total revenue should exceed R$ 2.4
billion, with a growth of over 63% year over
year;
- MSMB TPV should continue to grow and remain between
R$ 73 and R$
74 billion;
- Adjusted EBT (earnings before taxes) is expected to
exceed R$ 125 million, against
R$ 107 million in the second
quarter.
About Stone
Stone is a technology company that provides financial and
software solutions, whose purpose is to improve the life of
Brazilian entrepreneurs, helping them to sell through multiple
channels, better manage their businesses, and grow.
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SOURCE StoneCo.