R$ 211 million adjusted EBT up
+97% over 2Q22, exceeding guidance by 69%
With net addition of 248,000 MSMB clients in 3Q22, company
accelerates its growth and reaches 2.4 million clients, with market
share gains in payments
SÃO PAULO, Nov. 17,
2022 /PRNewswire/ -- On Thursday (17), StoneCo Ltd.
(Nasdaq: STNE) released its 3Q22 financial results showing a strong
increase in revenue, acceleration in net addition of clients,
market share gains in payments, adjusted profit more than doubling
compared to previous quarter, and strong liquidity with a better
adjusted net cash.
Net revenue grew 71% year-over-year to R$
2.5 billion, with an 84.1% growth in Financial Services
(R$ 2.1 billion) and 21.6% in
Software (R$ 366.2 million). Total
client base in payments achieved 2.4 million clients.
"We achieved strong growth with market share gains, accelerated
client addition, and had solid evolution in the banking strategy.
We continue to evolve consistently, balancing growth and
profitability, improving our take rates sequentially", says Stone
CEO, Thiago Piau. "Our growth
strategy linked to greater discipline in cost and expense
efficiencies reflected in consistent improvement in our
profitability: we doubled our adjusted profit compared to the last
quarter", he adds.
Adjusted EBT (Earnings Before Taxes) totaled R$ 211 million (97% compared to 2Q22), with an
EBT margin of 8.4%, a 3.8 percentage points sequential improvement.
The result exceeded the R$ 125
million guidance by 69%, especially due to adjustments in
pricing policy and efficiency gains. Adjusted net income was
R$ 162.5 million with an Adjusted Net
Margin of 6.5% in 3Q22, compared to R$ 76.5
million in 2Q22.
Consolidated TPV grew by 24.5% year-on-year to R$ 93.3 billion. In MSMBs, TPV grew by 44.7% year
over year to R$ 74.7 billion and the
take rate (revenue/TPV) reached 2.21%, mainly as a result of
continuous pricing efforts to offset the higher level of funding
costs. The Banking business reached 561 thousand active clients
(32.8% higher year-on-year), with average revenue per customer
increasing to R$ 44 from R$ 39 in 2Q22.
Stone recently announced transition in the company's leadership
from Thiago Piau to Pedro Zinner. "Soon, Pedro will start working
with the team and me on this transition. I have a deep trust in
Pedro and I am certain that, under his leadership, StoneCo will be
prepared to deliver even more robust results in this new phase of
the company, which is well positioned for its future growth path.
As a partner and on the Board, I will remain 100% committed and I
am excited to support Pedro and the team in this new phase", says
Piau.
Q422 revenue growth and profitability outlook
- Total revenue higher than R$ 2.6
billion in Q421 (growing at least 38.8% YoY);
- MSMB TPV between R$ 78 billion to
R$ 79 billion against R$ 74.7 billion in 3Q22;
- Adjusted EBT above R$ 250 million
over R$ 211 million in 3Q22.
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SOURCE StoneCo. Ltd