Brazil · Delayed Price · Currency is BRL B3 S.A. - Brasil, Bolsa, Balcão Earnings Call Transcripts
Fiscal Year 2026
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Record Q1 2026 revenue and profit growth driven by strong market activity, operational leverage, and robust foreign inflows. Margins expanded, recurring revenues remained solid, and new product launches and innovation initiatives advanced.
Fiscal Year 2025
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Q4 2025 delivered strong revenue and profit growth, driven by robust performance across all segments and supported by non-recurring tax and capital events. Operational leverage and recurring revenues underpin a positive outlook for 2026, with new products and data initiatives fueling further expansion.
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Revenue grew 2% year-over-year, led by fixed income, data analytics, and technology, while net income and EPS rose 12% amid disciplined cost control and robust share buybacks. Outlook is positive for volume recovery if interest rates fall, with ongoing innovation and new product launches.
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Q2 2025 saw 1% revenue growth and 13% higher EPS year-over-year, driven by strong fixed income and technology segments, while derivatives softened. New product launches and disciplined expense management support a positive outlook, with tax and regulatory changes being closely monitored.
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Gross revenues rose 8% year-over-year, with net income at BRL 1.1 billion and EPS up 25%. Fixed income and derivatives outperformed, while new product launches and active buybacks supported growth. Expense and volume guidance remain on track.
Fiscal Year 2024
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Revenue grew 7% year-over-year, with recurring EBITDA up 10% and net profit up 14%. Strong performance in derivatives and OTC, disciplined cost control, and a focus on buybacks drove results. New product launches and a major merger are set to unlock further value.
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Q3 2024 saw 9% revenue growth and 6% increases in both EBITDA and net income, driven by strong derivatives and OTC performance, while expenses declined due to lower amortization. Product innovation, including Bitcoin futures and new index contracts, and disciplined cost control support a positive outlook.
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Total revenues grew 10% year-over-year, with strong performance in derivatives, OTC, and financing segments offsetting weaker cash equities. Recurring EBITDA rose 8% to BRL 1.8 billion, and cost discipline is expected to keep expenses at the lower end of guidance.