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What factors drove the changes in StoneCo's revenue and profit?

- **Revenue & Profit Growth**: Adjusted gross profit up 13.5% YoY to BRL 6.319 billion, EPS up 34% to BRL 9.71. Credit revenue surged 33% QoQ to BRL 238 million.
- **Capital Return**: BRL 3 billion in 2025 buybacks, 2026 guidance includes BRL 2 billion buybacks. Linx proceeds to be distributed in 2026.
- **Credit Expansion**: Portfolio BRL 2.8 billion (23% QoQ), with disciplined risk management (coverage ratio 264%).
- **AI & Efficiency**: AI pilots reducing costs, long-term productivity gains expected.
- **Guidance 2026-27**: Gross profit BRL 6.6-7 billion (2026), BRL 7.2-8.3 billion (2027). EPS BRL 10.8-11.4 (2026), BRL 11.8-13.4 (2027).

**【CEO Summary Section】**
- **Strategic Transition**: Former CEO Pedro Zinner highlighted the sale of Linx for BRL 3 billion, emphasizing focus on core payments, banking, and credit. Adjusted EPS grew 34% YoY to BRL 9.71, with ROE expanding to 26% and a robust net cash position. Transition to new CEO Mateus Schwening, who outlined 2025 results: adjusted gross profit of BRL 6.319 billion (13.5% YoY), EPS of BRL 9.71 (34% YoY), and BRL 3 billion in share buybacks. Challenges included macroeconomic pressures, digital-native merchant performance, and churn. Schwening emphasized credit and banking growth, with credit revenue up 33% QoQ and deposits rising 27% YoY.

**【CFO Financial Commentary】**
- **Financial Performance**: CFO Diego Salgado detailed a net cash position of BRL 2.6 billion, with BRL 3 billion from Linx proceeds. 2026 guidance: adjusted gross profit of BRL 6.6-7 billion, EPS of BRL 10.8-11.4. 2027 guidance: BRL 7.2-8.3 billion gross profit, EPS of BRL 11.8-13.4. Capital allocation framework maintained, with excess capital returned via buybacks. Effective tax rate of 10.3% in Q4, down from 13.7% YoY due to Lei do Bem benefits.

**【Q&A Key Highlights】**
- **Credit Portfolio & Risk**: Credit revenue up 33% QoQ to BRL 238 million, provisions BRL 110 million (27% YoY). NPLs at 4.43% (15-90 days) and 5.21% (90+ days), with coverage ratio at 264%. Average credit yield 3.1%, up from 2.9% QoQ. Focus on disciplined scaling and risk-adjusted returns.
- **TPV Growth & Competition**: Mid-single-digit TPV growth expected in 2026, driven by cross-sell and retention. Challenges include macroeconomic headwinds and digital-native merchant dominance. Q1 2026 TPV flat YoY, with improvement expected in H2. Selling expenses to increase for client engagement.
- **AI & Efficiency**: AI pilots in customer service reduced costs, with plans to expand to sales and risk. Long-term productivity gains expected, though short-term impacts unclear.
- **Capital Allocation**: 2026 buybacks of BRL 2 billion embedded in EPS guidance. Linx proceeds to be distributed in 2026, potentially boosting EPS if used for buybacks. 2027 guidance assumes capital retention, with upside if buybacks resume.

StoneCo Ltd. (STNE) Q4 2025 Earnings Call Transcript

- **Revenue & Profit Growth**: 16% YoY revenue growth to BRL 3.6 billion; adjusted EPS up 37% YoY to BRL 6.9.
- **Shareholder Returns**: BRL 2.8 billion returned via buybacks in 12 months, 74% of excess capital distributed.
- **Credit Expansion**: Portfolio +27% QoQ to BRL 2.3 billion, with disciplined risk management (NPLs stable at 3.12% 15-90 days).
- **Profitability Focus**: Pricing adjustments offset interest rates; 2026 earnings growth driven by credit maturation and opex efficiency.
- **Macro Impact**: TPV growth decelerating to high single digits in 2026, reflecting weaker macro environment.

**【CEO Opening Remarks】**
- Adjusted gross profit grew 15.2% year-to-date, driven by pricing adjustments and cost control, despite share buybacks.
- Adjusted EPS reached BRL 6.9 per share (37% YoY), on track for full-year target.
- Returned BRL 2.8 billion to shareholders via buybacks in the last 12 months, with 74% of excess capital distributed by October.

**【CFO Financial Commentary】**
- Adjusted net income up 18% YoY, ROE expanded to 24% (8ppt YoY), with Financial Services ROE at 33%.
- Total revenue and income reached BRL 3.6 billion (16% YoY), driven by core business growth.
- Adjusted gross profit from continuing ops: BRL 1.6 billion (12% YoY), offset by higher financial expenses due to CDI rates.
- Cost of services decreased 90bps as % of revenue, admin expenses down 50bps, selling expenses up 50bps due to even marketing spend.

**【CFO Credit & Risk Management】**
- Credit portfolio grew 27% QoQ to BRL 2.3 billion, with 28% growth in merchant financing and 18% in credit cards.
- NPLs 15-90 days at 3.12%, stable QoQ; NPLs >90 days at 5.03% (natural maturation).
- Cost of risk declined to 16.8% QoQ, within mid-teens target range.
- Average credit rate 2.9% (up from 2.7% QoQ), reflecting product mix and pricing discipline.

**【Q&A Highlights】**
- **Credit Growth Sustainability**: 2026 earnings growth driven by maturing credit portfolio and opex efficiency; 2025 credit contribution limited by upfront provisions.
- **Competitive Environment**: Focus on profitability over market share; pricing adjustments offset interest rate hikes, but not at all-time highs.
- **Tax Rate Expectations**: 2026 effective tax rate ~15-16%, long-term target mid-high teens (vs. 2027 guidance of 20%).
- **Interest Rate Sensitivity**: 100bps rate cut → BRL 200-250 million EBT benefit; long-term spreads unlikely to remain elevated.
- **TPV Growth**: Deceleration expected in 2026 (high single to low double digits), driven by macro weakness among smaller clients.

StoneCo Ltd. (STNE) Q3 2025 Earnings Call Transcript

- **Strategic Shift**: Software divestitures unlock BRL 4B value, refocusing on 90%+ TAM in financial services. 
- **Financial Strength**: Adjusted net income +27% YoY, ROE 30% in financial services, EPS guidance upgraded to 32% growth. 
- **Credit Growth**: Working capital loans +41% QoQ, deposits +36% YoY, cost of risk stabilized at mid-teens. 
- **Shareholder Returns**: 41% of BRL 3B excess capital returned via buybacks; proceeds from Linx sale to be returned if no growth opportunities. 


**【CEO Summary Section】**
- Announced strategic divestiture of software assets (Linx to TOTVS and SimplesVet to PetLove), unlocking BRL 4 billion in value (25% of market cap) while refocusing on core financial services. 
- Updated guidance: Gross profit to grow 14.5% YoY to BRL 6.3 billion; EPS growth upgraded to 32% YoY (from 18%) due to share buybacks and stronger net income. 
- 41% of BRL 3 billion excess capital returned to shareholders via buybacks in 12 months.

**【CFO Financial Commentary】**
- Adjusted net income +27% YoY to BRL 631M; EPS +45% YoY to BRL 2.33. 
- Revenues from continuing ops +20% YoY to BRL 3.5B, driven by repricing and deposit funding strategy. 
- ROE metrics: Financial Services ROE 30%, consolidated ROE 22% (both +3pts QoQ). 
- Cost of risk at 20% Q2 (vs 10% Q1) due to macro caution, but mid-teens expected forward.

**【Q&A Key Highlights】**
- **TPV Growth**: MSMB TPV +12% YoY ( PIX QR +59%, card TPV +6.4%). Guided for low double-digit growth in H2 despite macro challenges. 
- **Credit Portfolio**: Working capital loans +41% QoQ to BRL 1.6B; credit card portfolio +19% QoQ. NPL stable, provisions +120% YoY to BRL 82M. 
- **Linx Sale**: Closing pending CADE approval; proceeds to be returned to shareholders if no accretive opportunities. 
- **Pricing Strategy**: No further repricings expected; pricing discipline offsetting macro-driven TPV deceleration. 
- **Deposit Mix**: 83% of deposits now time-based, reducing funding costs. 


StoneCo (STNE)-7 Aug 25-2025 Q2 Earnings call transcript

- **Revenue & Profit Growth**: 19% YoY revenue rise, 36% EPS surge highlights strong execution.
- **Share Buybacks**: New R$2 billion program underscores capital return commitment.
- **PIX Momentum**: 95% YoY PIX TPV growth accelerates deposit growth.
- **Credit Expansion**: R$1.4 billion portfolio with stable NPLs reflects disciplined underwriting.
- **Deposit Optimization**: 75% of deposits converted to time deposits to reduce funding costs.

**【CEO Opening Remarks】**
- Q1 2025 revenue grew 19% YoY, driven by repricing initiatives and reduced funding spreads.
- Adjusted EPS rose 36% YoY to R$1.97, supported by gross profit growth and cost efficiency.
- Announced a new R$2 billion share buyback program, reflecting capital allocation discipline.

**【CFO Financial Highlights】**
- Adjusted gross profit increased 19% YoY to R$637 million, with margin stabilization at 20.5%.
- Administrative expenses declined 90bps as a percentage of revenue due to cost control.
- Financial expenses rose 23% YoY, partially offset by cash sweep strategy reducing funding costs.

**【Segment Performance】**
- **Financial Services**: MSMB TPV grew 17% YoY, with PIX TPV surging 95% YoY, driven by debit volume cannibalization.
- **Banking**: Retail deposits reached R$8.3 billion (38% YoY), with 75% converted to time deposits via cash sweep.
- **Credit**: Portfolio expanded to R$1.4 billion, NPLs stable at 2.61% (15-90 days), provisions at 12% of portfolio.

**【Q&A Key Takeaways】**
- **TPV Growth**: Expect deceleration in MSMB TPV due to repricing, but aligned with 14% CAGR guidance.
- **Market Share**: Maintained stability in MSMB segment, gaining 0.08% YoY share.
- **Deposit Strategy**: Migration to time deposits to reduce funding costs, with full P&L impact from Q2.
- **Credit Expansion**: Focus on SMB working capital loans and micro-merchant credit cards, targeting 2027 portfolio goals.

StoneCo Ltd. (STNE) Q1 2025 Earnings Call Transcript

- **Revenue Growth**: 15% YoY driven by MSMB card TPV of BRL 403 billion and deposits exceeding BRL 8.7 billion.
- **Profitability**: Adjusted net income up 18% to BRL 700 million, software EBITDA margin 21.6%.
- **Capital Return**: BRL 1.6 billion buybacks in 2024, BRL 3 billion excess capital for future returns.
- **Repricing**: Q1 2025 repricing offsets 15% yield curve rise, full impact in Q2.
- **Banking Dominance**: Deposits grow 28% QoQ, outpacing TPV growth.

**【CEO Opening Remarks】**
- StoneCo achieved 15% YoY revenue growth in 2024, driven by MSMB card TPV of BRL 403 billion and retail deposits exceeding BRL 8.7 billion.
- Exceeded 2024 targets across key metrics, including MSMB take rate of 2.55% and credit portfolio growth to BRL 1.2 billion.
- Adjusted net income reached BRL 2.2 billion, outpacing guidance despite macroeconomic challenges.

**【CFO Financial Highlights】**
- Q4 2024 adjusted EBIT grew 22% YoY, with adjusted net income up 18% to BRL 700 million.
- Software segment revenue rose 15% YoY, driven by cross-selling financial services to 4 priority verticals.
- Adjusted EBITDA margin for software reached 21.6%, up from 19.5% in Q3.

**【Capital Allocation & Buybacks】**
- Executed BRL 1.6 billion in share buybacks in 2024, with BRL 900 million remaining under current program.
- Excess capital of BRL 3 billion available for return to shareholders via buybacks or dividends.
- 2025 guidance: adjusted gross profit >BRL 7.05 billion, adjusted EPS >BRL 8.6.

**【Q&A Key Takeaways】**
- Banking deposits grew 28% QoQ to BRL 8.7 billion, outpacing TPV growth.
- Repricing actions in Q1 2025 offset 15% yield curve increase, with full impact visible in Q2.
- Software division impairment charge of BRL 3.6 billion reflects strategic focus on cross-selling.
- No immediate plans to sell software assets, but open to offers meeting intrinsic value.

Actual							0.1118	0.0983	0.1756	0.2233	0.1063	-0.0937	0.0843	0.0233	0.0906	0.0475	0.0959	0.1356	0.1439	0.1958	0.2616	0.362	0.2826	0.2871	0.3607	0.3645	0.315	0.4285	0.4824	0.524
Forecast							0.1515	0.0837	0.1476	0.2286	0.1604	0.1873	0.1371	0.03	0.0674	0.046	0.0598	0.116	0.1321	0.1785	0.2221	0.2955	0.2856	0.2741	0.3236	0.3162	0.3149	0.3702	0.4824	0.4778
Surprise	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-26.20%	+17.44%	+18.97%	-2.32%	-33.73%	-150.03%	-38.51%	-22.33%	+34.42%	+3.26%	+60.37%	+16.90%	+8.93%	+9.69%	+17.78%	+22.50%	-1.05%	+4.74%	+11.46%	+15.28%	+0.03%	+15.75%	0.00%	+9.67%

STNE

STNE fundamentals

STNE Q4 2025 Earnings

Earnings Call

You can ask Aime

STNE

STNE fundamentals

STNE Q4 2025 Earnings

Earnings Call

STNE Earnings Call Summary for Q4/20255:00 PM on Mar 2, 2026

STNE Earnings Call Summary for Q3/20255:00 PM on Nov 6, 2025

STNE Earnings Call Summary for Q2/20255:00 PM on Aug 7, 2025

STNE Earnings Call Summary for Q1/20255:00 PM on May 8, 2025

STNE Earnings Call Summary for Q4/20245:00 PM on Mar 18, 2025

You can ask Aime