- The Company beat all lines of its 1Q23 guidance.
- Net revenue reached BRL 2.7
billion, 31% higher compared to 1Q22
- TPV for Micro, Small, and Medium Enterprises (MSME) reached
BRL 78.9 billion, 25% higher compared
to 1Q22
- Adjusted EBT (earnings before taxes) of BRL 324 million, 371% higher compared to 1Q22,
and 22% above guidance
SÃO PAULO, May 17, 2023
/PRNewswire/ -- StoneCo Ltd. (Nasdaq: STNE) reported its best first
quarter ever, with adjusted profit of BRL
237 million, up 456% over 1Q22. Revenue reached BRL 2.7 billion in 1Q23, up 31% year-on-year,
exceeding the guidance by 4%. Cash generation was also a record,
with BRL 4 billion in adjusted net
cash, a BRL 499.2 million increase
vs. previous quarter. Of the factors that contributed to the
company's growth with profitability, we highlight the increase in
the acquiring client's customer base, reaching 2.8 million, the
increase of customer's engagement with the company's banking
account, which reached 1.3 million active customers, strong MSME
customers monetization, with a Take Rate of 2.39%, and increased
operational efficiency, with costs and expenses growing less than
revenues.
"These results consolidate our execution capacity. We are
building a financial services platform with integrated solutions
for our customers, which goes far beyond acquiring", says Stone
CEO, Pedro Zinner. "The five
priorities that the company set as a guide for 2023 - growth with
profitability, cash generation, expanding financial services,
evolving the software area, and optimizing costs and expenses -
advanced in 1Q23, and we will maintain our focus throughout the
year", he adds.
The active customer base in the MSME segment grew by 47.4% in
the annual comparison and 9.2% compared to 4Q22, with the addition
of 231.9 thousand customers, reaching 2.758 million. The result was
driven by Stone's offers for small and medium-sized businesses, and
Ton, a solution for micro and small businesses. The total payments
volume (TPV) for the segment was BRL 78.9
million in 1Q23, a 25% increase year on year, growing 2
times above the industry, according to data from ABECS (Brazilian
Association of Companies of Credit Cards and Services).
On the banking platform, the highlight was the launch of "Super
Conta Ton", with multiple benefits aimed at entrepreneurs and the
self-employed, including money transferring via Pix, bill payments,
acquisition of mobile phone credits, prepaid cards, and more, which
improved customer's experience and enable Stone to be the primary
banking provider for its customers.
Outlook for 2Q23:
- Total Revenue above BRL 2.875
billion in 2Q23, annual growth above 24.8%
- MSME TPV between BRL 83 and
BRL 84 billion in 2Q23, annual growth
between 18.8% and 20.2%
- Adjusted EBT above BRL 375
million in 2Q23, growth of over 15.7% compared to 1Q23, and
over 394% compared to 2Q22
About Stone
Stone is a financial technology company
with a platform of complete solutions, whose purpose is to improve
the life of Brazilian entrepreneurs, helping them to sell more,
manage their business better, and always grow. Through technology
and innovation, it contributes to strengthening and evolving the
market. With customers spread across Brazil, it develops a close and personalized
relationship with each of the shopkeepers it serves.
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SOURCE Stone