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Total Finance Volume (TFV) | Total Payment Volume (TPV) | Total Banking Volume (TBV) | ||||||||||||||||||||||||||||||
R$ 220 Billion | R$ 92.7 Billion | R$ 128 Billion | ||||||||||||||||||||||||||||||
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Total Revenue and Income | Payments | Gross Profit | Financial Services | Gross Profit | ||||||||||||||||||||||||||||||
R$ 3.83 Billion | R$ 1.33 Billion | R$ 111 Million | ||||||||||||||||||||||||||||||
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Net Income | Non-GAAP | Payments | Adj. EBITDA | Financial Services | Adj. EBITDA | ||||||||||||||||||||||||||||||
R$ 415 Million | R$ 850 Million | (R$ 1 Million) | ||||||||||||||||||||||||||||||
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R$ Million | 2Q23 | 2Q22 | Var. y/y | 1Q23 | Var. q/q | ||||||||||||||||||
Total Revenues and Income | 3,826 | 3,911 | -2% | 3,750 | 2% | ||||||||||||||||||
(-) Other Financial Income | (65) | (45) | 45% | (65) | 1% | ||||||||||||||||||
(-) Transactions Costs | (1,414) | (1,414) | 0% | (1,389) | 2% | ||||||||||||||||||
Net Take Rate | 2,347 | 2,452 | 10% | 2,296 | 2% | ||||||||||||||||||
(-) Financial Expenses | (796) | (756) | 5% | (813) | -2% | ||||||||||||||||||
(-) Total Losses | CBK (+) ECL | (122) | (270) | -55% | (126) | -4% | ||||||||||||||||||
(+) FX Expenses | 9 | 9 | -3% | 17 | -51% | ||||||||||||||||||
Gross Profit | 1,438 | 1,434 | 0% | 1,374 | 5% | ||||||||||||||||||
(-) Operating Expenses | (589) | (603) | -25% | (587) | 0% | ||||||||||||||||||
Adjusted EBITDA | 849 | 831 | 2% | 787 | 8% | ||||||||||||||||||
Payments | 850 | 898 | -5% | 719 | 18% | ||||||||||||||||||
Financial Services | (1) | (67) | -99% | 68 | -101% | ||||||||||||||||||
(-) POS Write-off | (65) | (93) | -30% | (62) | 4% | ||||||||||||||||||
(-) D&A | (310) | (276) | 12% | (303) | 2% | ||||||||||||||||||
(+/-) Other Income (Expense), Net | 56 | 36 | 57% | 47 | 20% | ||||||||||||||||||
EBT | 531 | 498 | 7% | 470 | 13% | ||||||||||||||||||
(-) Income Tax and Social Contribution | (116) | (95) | 22% | (78) | 49% | ||||||||||||||||||
Net Income | Non-GAAP | 415 | 403 | 3% | 392 | 6% | ||||||||||||||||||
(-) Non-GAAP Effects | (30) | (36) | -17% | (22) | 36% | ||||||||||||||||||
Net Income | GAAP | 385 | 367 | 5% | 370 | 4% | ||||||||||||||||||
Cash Earnings | Adj. EBITDA (-) CapEx | 319 | 256 | 24% | 379 | -16% | ||||||||||||||||||
EPS | R$ 1.18 | R$ 1.10 | 7% | R$ 1.13 | 5% |
2Q23 | 2Q22 | Var. y/y | 1Q23 | Var. q/q | |||||||||||||||||||
Average Revenue per Active Client (ARPAC) | |||||||||||||||||||||||
Payments | R$ | 2,022 | 1,593 | 27% | 1,977 | 2% | ||||||||||||||||||
Financial Services | R$ | 82 | 94 | -13% | 91 | -10% | ||||||||||||||||||
Efficiency Ratio | 16.2% | 20.8% | (4.6) p.p. | 15.2% | 0.9 p.p. | ||||||||||||||||||
Credit Portfolio | R$ Billion | 2.6 | 2.3 | 15% | 2.7 | 4% | ||||||||||||||||||
Deposits | R$ Billion | 18.3 | 15.5 | 18% | 18.6 | -2% |
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R$ Million | 2Q23 | 2Q22 | Var. y/y | 1Q23 | Var. q/q | ||||||||||||||||||
Total Assets | 42,836 | 39,196 | 9% | 43,192 | -1% | ||||||||||||||||||
Current Assets | 36,898 | 33,955 | 9% | 37,524 | -2% | ||||||||||||||||||
Cash & Financial Investments¹ | 2,846 | 2,239 | 27% | 2,880 | -1% | ||||||||||||||||||
Account Receivables | 33,440 | 31,025 | 8% | 34,002 | -2% | ||||||||||||||||||
Others2 | 611 | 692 | -12% | 642 | -5% | ||||||||||||||||||
Non-Current Assets | 5,939 | 5,241 | 13% | 5,668 | 5% | ||||||||||||||||||
Account Receivables | 918 | 512 | 79% | 803 | 14% | ||||||||||||||||||
PP&E & Intangible Assets3 | 4,833 | 4,546 | 6% | 4,706 | 3% | ||||||||||||||||||
Others4 | 188 | 183 | 2% | 159 | 18% | ||||||||||||||||||
Liabilities and Equity | 42,836 | 39,196 | 9% | 43,192 | -1% | ||||||||||||||||||
Current Liabilities | 25,890 | 24,681 | 5% | 25,703 | 1% | ||||||||||||||||||
Payables to Merchants5 | 8,374 | 8,278 | 1% | 8,723 | -4% | ||||||||||||||||||
PagBank Accounts Balance | 8,258 | 6,081 | 36% | 7,925 | 4% | ||||||||||||||||||
PagBank CDs and Others6 | 7,813 | 7,689 | 2% | 7,522 | 4% | ||||||||||||||||||
Borrowings | 292 | 1,206 | -76% | 196 | 49% | ||||||||||||||||||
Others7 | 1,153 | 1,426 | -19% | 1,338 | -14% | ||||||||||||||||||
Non-Current Liabilities | 4,421 | 3,326 | 33% | 5,281 | -16% | ||||||||||||||||||
PagBank CDs + Others8 | 2,219 | 1,735 | 28% | 3,157 | -30% | ||||||||||||||||||
Others9 | 2,202 | 1,591 | 38% | 2,125 | 4% | ||||||||||||||||||
Equity10 | 12,526 | 11,189 | 12% | 12,207 | 3% |
Key Operating Indicators in USD | 2Q23 | 2Q22 | Var. y/y | 1Q23 | Var. q/q | ||||||||||||||||||
Market Cap | Billion | 3.1 | 3.4 | -9% | 2.8 | 8% | ||||||||||||||||||
Stock Price | 9.44 | 10.24 | -8% | 8.57 | 10% | ||||||||||||||||||
Book Value per Share | 8.12 | 7.20 | 13% | 7.43 | 9% | ||||||||||||||||||
Key Operating Indicators in BRL | 2Q23 | 2Q22 | Var. y/y | 1Q23 | Var. q/q | ||||||||||||||||||
Market Cap | Billion | 14.7 | 15.9 | -8% | 14.3 | 2% | ||||||||||||||||||
Stock Price | 45.22 | 48.54 | -7% | 43.39 | 4% | ||||||||||||||||||
Book Value per Share | 38.89 | 34.13 | 14% | 37.63 | 3% |
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R$ Billion | 2Q23 | 2Q22 | Var. y/y | 1Q23 | Var. q/q | ||||||||||||||||||
Total Finance Volume (TFV) | 220.4 | 174.7 | 26% | 204.0 | 8% | ||||||||||||||||||
Payments (TPV) | 92.7 | 89.2 | 4% | 88.1 | 5% | ||||||||||||||||||
Financial Services (TBV) | 127.7 | 85.5 | 49% | 115.9 | 10% |
# Million | 2Q23 | 2Q22 | Var. y/y | 1Q23 | Var. q/q | ||||||||||||||||||
Total Clients | 29.5 | 24.8 | 19% | 28.7 | 3% | ||||||||||||||||||
Active Clients | 16.4 | 15.1 | 9% | 16.3 | 1% | ||||||||||||||||||
Consumers | 10.2 | 8.5 | 21% | 10.0 | 3% | ||||||||||||||||||
Merchants | 6.2 | 6.6 | -7% | 6.3 | -2% |
# Million | 2Q23 | 2Q22 | Var. y/y | 1Q23 | Var. q/q | ||||||||||||||||||
Total | 6.8 | 7.5 | -10% | 6.9 | -2% |
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R$ Million | 2Q23 | 2Q22 | Var. y/y | 1Q23 | Var. q/q | ||||||||||||||||||
Credit Portfolio | 2,609 | 2,275 | 15% | 2,718 | -4% | ||||||||||||||||||
Working Capital | 625 | 919 | -32% | 672 | -7% | ||||||||||||||||||
Credit Card | 886 | 919 | -4% | 1,087 | -19% | ||||||||||||||||||
Payroll Loan + Others1 | 1,099 | 473 | 151% | 958 | 15% | ||||||||||||||||||
Provision for Losses | (816) | (754) | 8% | (1,024) | -20% | ||||||||||||||||||
Working Capital | (513) | (427) | 20% | (520) | -1% | ||||||||||||||||||
Credit Card | (288) | (321) | -10% | (495) | -42% | ||||||||||||||||||
Payroll Loan + Others1 | (14) | (7) | 99% | (10) | 40% | ||||||||||||||||||
Credit Portfolio, net | 1,794 | 1,521 | 18% | 1,693 | 6% |
R$ Billion | 2Q23 | 2Q22 | Var. y/y | 1Q23 | Var. q/q | ||||||||||||||||||
Total Deposits | 18.3 | 15.5 | 18% | 18.6 | -2% | ||||||||||||||||||
Average Percentage Yield (APY)1 | 73% | 65% | 8.0 p.p. | 73% | 0.0 p.p. | ||||||||||||||||||
Accounts Balance | 8.3 | 6.1 | 36% | 7.9 | 4% | ||||||||||||||||||
Average Percentage Yield (APY)1 | 73% | 65% | 8.0 p.p. | 73% | 0.0 p.p. | ||||||||||||||||||
Merchant's Payment Account | 0.8 | 0.8 | -3% | 0.7 | 15% | ||||||||||||||||||
Account Balances | 7.5 | 5.3 | 42% | 7.3 | 3% | ||||||||||||||||||
CDs + Others | 10.0 | 9.4 | 7% | 10.7 | -6% | ||||||||||||||||||
Average Percentage Yield (APY)1 | 112% | 118% | (6.3) p.p. | 109% | 2.5 p.p. | ||||||||||||||||||
Certificate of Deposits | 8.3 | 7.0 | 18% | 8.9 | -7% | ||||||||||||||||||
Interbank Deposits | 1.8 | 2.2 | -20% | 1.8 | 0% | ||||||||||||||||||
Corporate Securities | 0.0 | 0.2 | n.a. | 0.0 | n.a. |
Annual % | 2Q23 | 2Q22 | Var. y/y | 1Q23 | Var. q/q | ||||||||||||||||||
SELIC | 13.75% | 13.25% | 0.5 p.p. | 13.75% | 0.0 p.p. | ||||||||||||||||||
SELIC | Average | 13.75% | 12.46% | 1.3 p.p. | 13.75% | 0.0 p.p. | ||||||||||||||||||
CDI (Brazilian Interbank Rate) | 13.65% | 13.15% | 0.5 p.p. | 13.65% | 0.0 p.p. | ||||||||||||||||||
CDI | Average | 13.65% | 12.38% | 1.3 p.p. | 13.65% | 0.0 p.p. |
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Selected Capsule | R$ Million | 2Q23 | 2Q22 | Var. y/y | 1Q23 | Var. q/q | ||||||||||||||||||
Total Revenue and Income1 | 3,826 | 3,911 | -2% | 3,750 | 2% | ||||||||||||||||||
Payments | 3,575 | 3,606 | -1% | 3,449 | 4% | ||||||||||||||||||
Financial Services2 | 243 | 344 | -29% | 331 | -26% | ||||||||||||||||||
Other Financial Income | 65 | 45 | 45% | 65 | 1% |
GAAP | R$ Million | 2Q23 | 2Q22 | Var. y/y | 1Q23 | Var. q/q | ||||||||||||||||||
Total Revenue and Income | 3,826 | 3,911 | -2% | 3,750 | 2% | ||||||||||||||||||
Transaction Activities and Other Services | 2,166 | 2,256 | -4% | 2,151 | 1% | ||||||||||||||||||
Financial Income | 1,595 | 1,610 | -1% | 1,534 | 4% | ||||||||||||||||||
Other Financial Income | 65 | 45 | 45% | 65 | 1% |
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GAAP | R$ Million | 2Q23 | 2Q22 | Var. y/y | 1Q23 | Var. q/q | ||||||||||||||||||
Transaction Costs | (1,414) | (1,414) | 0% | (1,389) | 2% | ||||||||||||||||||
% Total Revenue and Income | 37.0% | 36.2% | 0.8 p.p. | 37.0% | (0.1) p.p. | ||||||||||||||||||
Interchange and Card Scheme Fee | (1,357) | (1,365) | -1% | (1,338) | 1% | ||||||||||||||||||
Others | (57) | (49) | 16% | (51) | 13% |
Non-GAAP | R$ Million | 2Q23 | 2Q22 | Var. y/y | 1Q23 | Var. q/q | ||||||||||||||||||
Net Take Rate | 2,347 | 2,452 | -4% | 2,296 | 2% | ||||||||||||||||||
TPV | R$ Billion | 93 | 89 | 4% | 88 | 5% | ||||||||||||||||||
Net Take Rate | % | 2.53% | 2.75% | (0.22) p.p. | 2.61% | (0.07) p.p. |
GAAP | R$ Million | 2Q23 | 2Q22 | Var. y/y | 1Q23 | Var. q/q | ||||||||||||||||||
Financial Expenses | (796) | (756) | 5% | (813) | -2% | ||||||||||||||||||
% Total Revenue and Income | 20.8% | 19.3% | 1.47 p.p. | 21.7% | (0.89) p.p. | ||||||||||||||||||
Securitization of Receivables | (245) | (349) | -30% | (214) | 15% | ||||||||||||||||||
Certificates of Deposits | Accrued Interest | (550) | (406) | 35% | (599) | -8% |
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GAAP | R$ Million | 2Q23 | 2Q22 | Var. y/y | 1Q23 | Var. q/q | ||||||||||||||||||
Total Losses | (122) | (270) | -55% | (126) | -4% | ||||||||||||||||||
% Total Revenue and Income | 3.18% | 6.92% | (3.7) p.p. | 3.37% | (0.2) p.p. | ||||||||||||||||||
Chargebacks | (121) | (115) | 5% | (85) | 42% | ||||||||||||||||||
% TPV | 0.13% | 0.13% | 0.0 p.p. | 0.10% | 0.0 p.p. | ||||||||||||||||||
Expected Credit Losses (ECL) | (1) | (155) | -100% | (41) | -99% | ||||||||||||||||||
% Outstanding ECL / Credit Portfolio | 0.02% | 6.83% | (6.8) p.p. | 1.51% | (1.5) p.p. |
Non-GAAP | R$ Million | 2Q23 | 2Q22 | Var. y/y | 1Q23 | Var. q/q | ||||||||||||||||||
Gross Profit | 1,438 | 1,434 | 0% | 1,374 | 5% | ||||||||||||||||||
% Total Revenue and Income | 37,6% | 36,7% | 0,9 p,p, | 36,7% | 0,9 p,p, | ||||||||||||||||||
Payments | 1,327 | 1,364 | -3% | 1,196 | 11% | ||||||||||||||||||
Financial Services | 111 | 70 | 57% | 179 | -38% |
Non-GAAP | R$ Million | 2Q23 | 2Q22 | Var. y/y | 1Q23 | Var. q/q | ||||||||||||||||||
Operating Expenses | (589) | (603) | -2% | (587) | 0% | ||||||||||||||||||
% Total Revenue and Income | 15.4% | 15.4% | (0.0) p.p. | 15.7% | (0.26) p.p. | ||||||||||||||||||
Personnel Expenses | (246) | (241) | 2% | (253) | -3% | ||||||||||||||||||
Marketing and Advertising | (129) | (167) | -23% | (118) | 10% | ||||||||||||||||||
Other (Expenses) Income, Net | (214) | (195) | 10% | (216) | -1% |
GAAP | R$ Million | 2Q23 | 2Q22 | Var. y/y | 1Q23 | Var. q/q | ||||||||||||||||||
Operating Expenses | (619) | (654) | -5% | (606) | 2% | ||||||||||||||||||
% Total Revenue and Income | 16.2% | 16.7% | (0.5) p.p. | 16.2% | 0.0 p.p. | ||||||||||||||||||
Personnel Expenses | (276) | (292) | -6% | (272) | 1% | ||||||||||||||||||
Marketing and Advertising | (129) | (167) | -23% | (118) | 10% | ||||||||||||||||||
Other (Expenses) Income, Net | (214) | (195) | 10% | (216) | -1% |
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Non-GAAP | R$ Million | 2Q23 | 2Q22 | Var. y/y | 1Q23 | Var. q/q | ||||||||||||||||||
Adj. EBITDA | 849 | 831 | 2% | 787 | 8% | ||||||||||||||||||
% Total Revenue and Income | 22,2% | 21,3% | 0,9 p,p, | 21,0% | 1,2 p,p, | ||||||||||||||||||
Payments | 850 | 898 | -5% | 719 | 18% | ||||||||||||||||||
Financial Services | (1) | (67) | -99% | 68 | n.a. | ||||||||||||||||||
Capital Expenditures (CapEx) | 530 | 575 | -8% | 408 | 30% | ||||||||||||||||||
Cash Earnings | Adj. EBITDA (-) CapEx | 319 | 256 | 24% | 379 | -16% |
Non-GAAP | R$ Million | 2Q23 | 2Q22 | Var. y/y | 1Q23 | Var. q/q | ||||||||||||||||||
Depreciation and Amortization | (310) | (276) | 12% | (303) | 2% | ||||||||||||||||||
% Total Revenue and Income | 8.1% | 7.1% | 1.0 p.p. | 8.1% | 0.0 p.p. |
GAAP | R$ Million | 2Q23 | 2Q22 | Var. y/y | 1Q23 | Var. q/q | ||||||||||||||||||
Depreciation and Amortization | (326) | (281) | 16% | (317) | 3% | ||||||||||||||||||
% Total Revenue and Income | 8.5% | 7.2% | 1.3 p.p. | 8.5% | 0.0 p.p. |
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Non-GAAP | R$ Million | 2Q23 | 2Q22 | Var. y/y | 1Q23 | Var. q/q | ||||||||||||||||||
POS Write-off | (65) | (93) | n.a. | (62) | 4% | ||||||||||||||||||
% Total Revenue and Income | 1.7% | 2.4% | (0,7) p.p. | 1.7% | 0.0 p.p. |
Non-GAAP | R$ Million | 2Q23 | 2Q22 | Var. y/y | 1Q23 | Var. q/q | ||||||||||||||||||
Earnings before Tax | 531 | 498 | 7% | 470 | 13% | ||||||||||||||||||
% Total Revenue and Income | 13.9% | 12.7% | 1.1 p.p. | 12.5% | 1.4 p.p. |
GAAP | R$ Million | 2Q23 | 2Q22 | Var. y/y | 1Q23 | Var. q/q | ||||||||||||||||||
Profit for the period before Tax | 485 | 443 | 10% | 436 | 11% | ||||||||||||||||||
Statutory Rate | 34,0% | 34,0% | 0,0 p,p, | 34,0% | 0,0 p,p, | ||||||||||||||||||
Expected Income Tax and Social Contribution | (165) | (151) | 10% | (148) | 11% | ||||||||||||||||||
Income Tax and Social contribution effect on: | |||||||||||||||||||||||
R&D and Tech Innovation Benefit - Law 11,196/05 (i) | 49 | 59 | -17% | 52 | -5% | ||||||||||||||||||
Taxation of Income abroad (ii) | 24 | 29 | -16% | 31 | -22% | ||||||||||||||||||
Other | (8) | (13) | -36% | (0) | 2456% | ||||||||||||||||||
Income Tax and Social Contribution Expenses | (100) | (76) | 32% | (66) | 51% | ||||||||||||||||||
Effective Tax Rate | 20,6% | 17,1% | 3,5 p,p, | 15,2% | 5,5 p,p, | ||||||||||||||||||
Income Tax and Social Contribution – Current | (42) | 1 | n.a. | (18) | 134% | ||||||||||||||||||
Income Tax and Social Contribution – Deferred | (58) | (76) | -24% | (48) | 20% |
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R$ Million | 2Q23 | 2Q22 | Var. y/y | 1Q23 | Var. q/q | ||||||||||||||||||
Net Income | Non-GAAP | 415 | 403 | 3% | 392 | 6% | ||||||||||||||||||
% Total Revenue and Income | 10.9% | 10.3% | 0.5 p.p. | 10.5% | 0.4 p.p. | ||||||||||||||||||
Non-GAAP Effects | (30) | (36) | -17% | (22) | 36% | ||||||||||||||||||
Net Income | GAAP | 385 | 367 | 5% | 370 | 4% | ||||||||||||||||||
% Total Revenue and Income | 10.1% | 9.4% | 0.7 p.p. | 9.9% | 0.2 p.p. |
R$ Million | 2Q22 | 3Q22 | 4Q22 | 1Q23 | 2Q23 | |||||||||||||||
Net Income | GAAP | 367 | 380 | 408 | 370 | 385 | |||||||||||||||
(+) Income Tax and Social Contribution | 76 | 45 | 67 | 66 | 100 | |||||||||||||||
(+) LTIP Expenses2 | 51 | 43 | (42) | 19 | 30 | |||||||||||||||
(+) POS Write-off | 93 | 41 | 66 | 62 | 65 | |||||||||||||||
(+) Depreciation and Amortization | 281 | 294 | 307 | 317 | 326 | |||||||||||||||
(-) Other Financial Income | (45) | (46) | (43) | (65) | (65) | |||||||||||||||
(+) M&A Expenses3 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||
(+) FX Expenses | 9 | 12 | 15 | 17 | 9 | |||||||||||||||
(+) PagPhone net realizable value reversal1 | 0 | (53) | 0 | 0 | 0 | |||||||||||||||
(-) Software's disposals2 | 0 | 29 | 11 | 0 | 0 | |||||||||||||||
(-) Boleto Flex impairment2 | 0 | 13 | 0 | 0 | 0 | |||||||||||||||
(-) Agreement with POS supplier2 | 0 | 10 | 0 | 0 | 0 | |||||||||||||||
Adjusted EBITDA | 831 | 770 | 788 | 787 | 849 |
R$ Million | 2Q22 | 3Q22 | 4Q22 | 1Q23 | 2Q23 | |||||||||||||||
Net Income | GAAP | 367 | 380 | 408 | 370 | 385 | |||||||||||||||
(+) LTIP Expenses2 | 51 | 43 | (42) | 19 | 30 | |||||||||||||||
(+) M&A Expenses3 | 5 | 5 | 5 | 5 | 5 | |||||||||||||||
(+) Income Tax and Social Contribution | (19) | (16) | (2) | (11) | (16) | |||||||||||||||
(+) PagPhone net realizable value reversal1 | 0 | (35) | 0 | 0 | 0 | |||||||||||||||
(-) Software's disposals2 | 0 | 19 | 11 | 0 | 0 | |||||||||||||||
(-) Boleto Flex impairment2 | 0 | 8 | 0 | 0 | 0 | |||||||||||||||
(-) Agreement with POS supplier2 | 0 | 7 | 0 | 0 | 0 | |||||||||||||||
(+) Capitalized Expenses of platforms development | 0 | 0 | 32 | 10 | 11 | |||||||||||||||
Net Income | Non-GAAP | 403 | 411 | 411 | 392 | 415 |
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R$ million | 1Q22 | 2Q22 | 3Q22 | 4Q22 | 1Q23 | 2Q23 | ||||||||||||||||||||
Total Revenue and Income | 3,427.0 | 3,910.6 | 4,035.4 | 3,962.0 | 3,749.7 | 3,825.9 | ||||||||||||||||||||
As previously reported | ||||||||||||||||||||||||||
Payments | 3,125.2 | 3,605.7 | 3,712.4 | 3,654.2 | 3,449.2 | 3,577.0 | ||||||||||||||||||||
Financial Services | 304.6 | 314.5 | 339.4 | 329.0 | 297.8 | 209.7 | ||||||||||||||||||||
Other Financial Income | 41.6 | 44.8 | 46.1 | 43.3 | 64.5 | 64.9 | ||||||||||||||||||||
Float | (44.3) | (54.3) | (62.5) | (64.5) | (61.8) | (25.6) | ||||||||||||||||||||
Current classification | ||||||||||||||||||||||||||
Payments | 3,125.2 | 3,605.7 | 3,712.4 | 3,654.2 | 3,449.2 | 3,575.4 | ||||||||||||||||||||
Financial Services | 332.6 | 343.8 | 375.8 | 361.8 | 330.6 | 243.0 | ||||||||||||||||||||
Other Financial Income | 41.6 | 44.8 | 46.1 | 43.3 | 64.5 | 64.9 | ||||||||||||||||||||
Float | (72.3) | (83.6) | (98.8) | (97.3) | (94.6) | (57.5) | ||||||||||||||||||||
Gross Profit | 1,225.2 | 1,434.3 | 1,384.3 | 1,408.9 | 1,374.4 | 1,438.0 | ||||||||||||||||||||
As previously reported | ||||||||||||||||||||||||||
Payments | 1,205.2 | 1,393.2 | 1,308.1 | 1,278.2 | 1,227.7 | 1,361.2 | ||||||||||||||||||||
Financial Services | 20.0 | 41.2 | 76.2 | 130.8 | 146.6 | 76.8 | ||||||||||||||||||||
Current classification | ||||||||||||||||||||||||||
Payments | 1,177.2 | 1,363.9 | 1,271.7 | 1,245.4 | 1,195.6 | 1,327.2 | ||||||||||||||||||||
Financial Services | 47.9 | 70.5 | 112.5 | 163.6 | 178.7 | 110.7 | ||||||||||||||||||||
Adj. EBITDA | 664.8 | 831.0 | 769.6 | 787.6 | 787.3 | 848.9 | ||||||||||||||||||||
As previously reported | ||||||||||||||||||||||||||
Payments | 769.2 | 926.8 | 868.3 | 808.8 | 751.2 | 883.5 | ||||||||||||||||||||
Financial Services | (104.4) | (95.8) | (98.6) | (21.2) | 36.1 | (34.6) | ||||||||||||||||||||
Current classification | ||||||||||||||||||||||||||
Payments | 741.2 | 897.5 | 831.9 | 776.0 | 719.1 | 849.6 | ||||||||||||||||||||
Financial Services | (76.4) | (66.5) | (62.3) | 11.6 | 68.2 | (0.7) |
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GAAP | R$ Million | 2Q23 | 2Q22 | Var. y/y | 1Q23 | Var. q/q | ||||||||||||||||||
Earnings before Income Taxes | 485 | 443 | 10% | 436 | 11% | ||||||||||||||||||
Expenses (Revenues) not affecting Cash | 602 | 1,032 | -42% | 706 | -15% | ||||||||||||||||||
Net Cash provided by (used in) Operating Activities | 464 | 231 | 101% | 399 | 16% | ||||||||||||||||||
Net Cash provided by (used in) Investing Activities | (553) | (509) | 9% | (562) | -2% | ||||||||||||||||||
Net Cash provided by (used in) Financing Activities | (3) | (13) | n.a. | 150 | n.a. | ||||||||||||||||||
Increase (Decrease) in Cash and Cash Equivalents | (92) | (291) | -68% | (13) | 612% | ||||||||||||||||||
Cash and Cash Equivalents at the beginning of the Period | 1,816 | 1,483 | 22% | 1,829 | -1% | ||||||||||||||||||
Cash and Cash Equivalents at the end of the Period | 1,724 | 1,192 | 45% | 1,816 | -5% |
GAAP | R$ Million | 2Q23 | 2Q22 | Var. y/y | 1Q23 | Var. q/q | ||||||||||||||||||
Net Cash provided by (used in) Operating Activities | 464 | 231 | 101% | 399 | 16% | ||||||||||||||||||
Earnings before Income Taxes | 485 | 443 | 10% | 436 | 11% | ||||||||||||||||||
Expenses (Revenues) not affecting Cash | 602 | 1,032 | -42% | 706 | -15% | ||||||||||||||||||
Changes in Operating Assets and Liabilities | (1,088) | (2,089) | -48% | (1,280) | -15% | ||||||||||||||||||
Income Tax and Social Contribution paid | (47) | (40) | 18% | (12) | 283% | ||||||||||||||||||
Interest Income received | 511 | 885 | -42% | 549 | -7% |
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GAAP | R$ Million | 2Q23 | 2Q22 | Var. y/y | 1Q23 | Var. q/q | ||||||||||||||||||
Net Cash provided by (used in) Investing Activities | (553) | (509) | 9% | (562) | -2% | ||||||||||||||||||
Amount paid on Acquisitions, Net of Cash Acquired | 0 | 0 | n.a. | 0 | n.a. | ||||||||||||||||||
Capital Expenditures | (530) | (575) | -8% | (408) | 30% | ||||||||||||||||||
% Total Revenue and Income | -13,9% | -14,7% | (0,1) p.p. | -10,9% | (3,0) p.p. | ||||||||||||||||||
Purchases of Property and Equipment | (277) | (341) | -19% | (149) | 87% | ||||||||||||||||||
Purchases and Development of Intangible Assets | (253) | (234) | 8% | (260) | -3% | ||||||||||||||||||
Acquisition of Financial Investments | (22) | 66 | n.a. | (154) | -85% | ||||||||||||||||||
Redemption of Financial Investments | 0 | 0 | n.a. | 0 | n.a. |
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GAAP | R$ Million | 2Q23 | 2Q22 | Var. y/y | 1Q23 | Var. q/q | ||||||||||||||||||
Net Cash provided by (used in) Financing Activities | (3) | (13) | -76% | 150 | n.a. | ||||||||||||||||||
Payment of Borrowings | 0 | 0 | n.a. | 0 | n.a. | ||||||||||||||||||
Proceeds from Borrowings | 100 | 0 | n.a. | 200 | -50% | ||||||||||||||||||
Payment of Borrowings Interest | 0 | (7) | n.a. | 0 | n.a. | ||||||||||||||||||
Payment of Leases | (5) | (6) | -16% | (4) | 12% | ||||||||||||||||||
Acquisition of Treasury Shares | (98) | 0 | n.a. | (45) | 117% | ||||||||||||||||||
Capital Increase by non-controlling Shareholders | 0 | 0 | n.a. | 0 | n.a. |
![]() |
R$ Million | 2Q23 | 2Q22 | Var. y/y | 1Q23 | Var. q/q | ||||||||||||||||||
Assets | 42,836 | 39,196 | 9% | 43,192 | -1% | ||||||||||||||||||
Current Assets | 36,898 | 33,955 | 9% | 37,524 | -2% | ||||||||||||||||||
Cash and Cash Equivalents | 1,724 | 1,192 | 45% | 1,816 | -5% | ||||||||||||||||||
Financial Investments | 1,122 | 1,047 | 7% | 1,064 | 6% | ||||||||||||||||||
Accounts Receivable | 33,440 | 31,025 | 8% | 34,002 | -2% | ||||||||||||||||||
Derivative Financial Instruments | 0 | 4 | n.a. | 0 | n.a. | ||||||||||||||||||
Receivables from Related Parties | 2 | 0 | n.a. | 0 | n.a. | ||||||||||||||||||
Inventories | 33 | 48 | -32% | 22 | 52% | ||||||||||||||||||
Taxes Recoverable | 421 | 440 | -4% | 448 | -6% | ||||||||||||||||||
Other Receivables | 155 | 199 | -22% | 172 | -10% | ||||||||||||||||||
Non-Current Assets | 5,939 | 5,241 | 13% | 5,668 | 5% | ||||||||||||||||||
Judicial Deposits | 50 | 41 | 21% | 44 | 12% | ||||||||||||||||||
Accounts Receivable | 918 | 512 | 79% | 803 | 14% | ||||||||||||||||||
Receivables from related parties | 13 | 0 | n.a. | 0 | n.a. | ||||||||||||||||||
Other receivables | 25 | 24 | 3% | 11 | 129% | ||||||||||||||||||
Deferred Income Tax and Social Contribution | 98 | 103 | -5% | 102 | -4% | ||||||||||||||||||
Investment | 2 | 15 | -88% | 2 | 3% | ||||||||||||||||||
Property and Equipment | 2,474 | 2,647 | -7% | 2,438 | 1% | ||||||||||||||||||
Intangible Assets | 2,359 | 1,899 | 24% | 2,268 | 4% | ||||||||||||||||||
Liabilities and Equity | 42,836 | 39,196 | 9% | 43,192 | -1% | ||||||||||||||||||
Current Liabilities | 25,890 | 24,681 | 5% | 25,703 | 1% | ||||||||||||||||||
Payables to Third Parties | 16,632 | 14,359 | 16% | 16,648 | 0% | ||||||||||||||||||
Trade Payables | 465 | 507 | -8% | 437 | 6% | ||||||||||||||||||
Payables to Related Parties | 74 | 270 | -73% | 360 | -79% | ||||||||||||||||||
Borrowings | 292 | 1,206 | -76% | 196 | 49% | ||||||||||||||||||
Derivative Financial Instruments | 33 | 143 | -77% | 26 | 24% | ||||||||||||||||||
Deposits | 7,813 | 7,689 | 2% | 7,522 | 4% | ||||||||||||||||||
Salaries and Social Charges | 276 | 251 | 10% | 205 | 35% | ||||||||||||||||||
Taxes and Contributions | 83 | 53 | 57% | 100 | -17% | ||||||||||||||||||
Provision for Contingencies | 62 | 33 | 87% | 55 | 13% | ||||||||||||||||||
Deferred Revenue | 125 | 138 | -9% | 125 | 0% | ||||||||||||||||||
Other Liabilities | 34 | 30 | 15% | 29 | 18% | ||||||||||||||||||
Non-Current Liabilities | 4,421 | 3,326 | 33% | 5,281 | -16% | ||||||||||||||||||
Payables to Third Parties | 127 | 0 | n.a. | 94 | 36% | ||||||||||||||||||
Deferred Income Tax and Social Contribution | 1,666 | 1,483 | 12% | 1,614 | 3% | ||||||||||||||||||
Provision for Contingencies | 7 | 14 | -51% | 15 | -54% | ||||||||||||||||||
Deposits | 2,219 | 1,735 | 28% | 3,157 | -30% | ||||||||||||||||||
Deferred Revenue | 18 | 20 | -10% | 18 | 0% | ||||||||||||||||||
Payables to related parties | 155 | 0 | n.a. | 161 | -4% | ||||||||||||||||||
Other Liabilities | 229 | 74 | 208% | 224 | 2% | ||||||||||||||||||
Equity | 12,526 | 11,189 | 12% | 12,207 | 3% | ||||||||||||||||||
Share Capital | 0.03 | 0.03 | 0% | 0.03 | 0% | ||||||||||||||||||
Capital Reserve | 6,062 | 6,054 | 0% | 6,029 | 1% | ||||||||||||||||||
Retained earnings | 6,992 | 5,449 | 28% | 6,607 | 6% | ||||||||||||||||||
Treasury Shares | (506) | (280) | 80% | (407) | 24% | ||||||||||||||||||
Other Comprehensive Income | (1) | (12) | -91% | 0 | n.a. | ||||||||||||||||||
Equity Valuation Adjustments | (22) | (22) | 0% | (22) | 0% |
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Non-GAAP | R$ Million | 2Q23 | 2Q22 | Var. y/y | 1Q23 | Var. q/q | ||||||||||||||||||
Total Revenues and Income | 3,826 | 3,911 | -2% | 3,750 | 2% | ||||||||||||||||||
Transaction Activities and Other Services | 2,166 | 2,256 | -4% | 2,151 | 1% | ||||||||||||||||||
Financial Income | 1,595 | 1,610 | -1% | 1,534 | 4% | ||||||||||||||||||
Other Financial Income | 65 | 45 | 45% | 65 | 1% | ||||||||||||||||||
Total Costs and Expenses | (3,295) | (3,413) | -3% | (3,280) | 0% | ||||||||||||||||||
Cost of Sales and Services | (1,923) | (1,896) | 1% | (1,923) | 0% | ||||||||||||||||||
Selling Expenses | (320) | (499) | -36% | (316) | 1% | ||||||||||||||||||
Administrative Expenses | (162) | (153) | 6% | (145) | 11% | ||||||||||||||||||
Financial Expenses | (796) | (756) | 5% | (813) | -2% | ||||||||||||||||||
Other Expenses, Net | (94) | (109) | -14% | (82) | 15% | ||||||||||||||||||
Income Tax and Social Contribution | (116) | (95) | 22% | (78) | 49% | ||||||||||||||||||
Current income tax and social contribution | (42) | 1 | n.a. | (18) | 134% | ||||||||||||||||||
Deferred income tax and social contribution | (73) | (95) | -23% | (60) | 23% | ||||||||||||||||||
Net Income | Non-GAAP | 415 | 403 | 3% | 392 | 6% | ||||||||||||||||||
Non-GAAP effects | (30) | (36) | -17% | (22) | 36% | ||||||||||||||||||
Net Income | GAAP | 385 | 367 | 5% | 370 | 4% |
![]() |
Earnings Per Share Reconciliation | 2Q23 | 2Q22 | Var. y/y | 1Q23 | Var. q/q | ||||||||||||||||||
Net Income attributable to: | |||||||||||||||||||||||
Owners of the Company | R$ Million | 385 | 367 | 5% | 370 | 4% | ||||||||||||||||||
Non-controlling interests | R$ Million | - | - | - | - | - | ||||||||||||||||||
Weighted avg number of Outstanding Common Shares | # Million | 324 | 332 | -2% | 325 | 0% | ||||||||||||||||||
Weighted avg number of common shares diluted | # Million | 325 | 333 | -2% | 328 | -1% | ||||||||||||||||||
Basic Earnings per common share | R$ | 1.1904 | 1.1059 | 8% | 1.1388 | 5% | ||||||||||||||||||
Diluted Earnings per common share | R$ | 1.1832 | 1.1012 | 7% | 1.1290 | 5% |
GAAP | R$ Million | 2Q23 | 2Q22 | Var. y/y | 1Q23 | Var. q/q | ||||||||||||||||||
Earnings before Income Taxes | 485 | 443 | 10% | 436 | 11% | ||||||||||||||||||
Expenses (Revenues) not affecting Cash | 602 | 1,032 | -42% | 706 | -15% | ||||||||||||||||||
Depreciation and Amortization | 326 | 281 | 16% | 317 | 3% | ||||||||||||||||||
Chargebacks | 122 | 270 | -55% | 126 | -4% | ||||||||||||||||||
Accrual of Provision for Contingencies | 4 | 5 | -20% | 10 | -62% | ||||||||||||||||||
Reversal of Taxes and Contributions | 0 | 0 | n.a. | 0 | n.a. | ||||||||||||||||||
Share based Long Term Incentive Plan (LTIP) | 33 | 40 | -18% | 40 | -18% | ||||||||||||||||||
Loss on Disposal of Property, Equipment and Intangible Assets | 68 | 103 | -34% | 63 | 7% | ||||||||||||||||||
Financial Instruments | (9) | 0 | n.a. | (2) | 482% | ||||||||||||||||||
Interest accrued | 59 | 336 | n.a. | 150 | -61% | ||||||||||||||||||
Other Financial Cost, Net | 0 | (3) | n.a. | 1 | -43% | ||||||||||||||||||
Changes in Operating Assets and Liabilities | (1,088) | (2,089) | -48% | (1,280) | -15% | ||||||||||||||||||
Account Receivables | (668) | (6,775) | -90% | 1,110 | n.a. | ||||||||||||||||||
Financial Investments (Mandatory Guarantee) | (10) | 48 | n.a. | 223 | n.a. | ||||||||||||||||||
Inventories | (11) | 1 | n.a. | (8) | 34% | ||||||||||||||||||
Taxes Recoverable | 61 | 38 | 62% | (14) | n.a. | ||||||||||||||||||
Other Receivables | (6) | 30 | n.a. | 21 | n.a. | ||||||||||||||||||
Deferred Revenue | (0) | (7) | -95% | (0) | -9% | ||||||||||||||||||
Other Payables | 9 | (0) | n.a. | (2) | n.a. | ||||||||||||||||||
Payables to Third Parties | 22 | 989 | -98% | (1,336) | n.a. | ||||||||||||||||||
Trade Payables | 27 | (52) | n.a. | (13) | n.a. | ||||||||||||||||||
Receivables from (Payables to) Related Parties | (332) | (19) | 1668% | (75) | 343% | ||||||||||||||||||
Deposits | (220) | 3,580 | n.a. | (1,095) | -80% | ||||||||||||||||||
Salaries and Social Charges | 71 | 68 | 4% | (88) | n.a. | ||||||||||||||||||
Taxes and Contributions | (25) | 11 | n.a. | 1 | n.a. | ||||||||||||||||||
Provision for Contingencies | (6) | (2) | 203% | (4) | 61% | ||||||||||||||||||
Income Tax and Social Contribution paid | (47) | (40) | 18% | (12) | 283% | ||||||||||||||||||
Interest Income received | 511 | 885 | -42% | 549 | -7% | ||||||||||||||||||
Net Cash provided by (used in) Operating Activities | 464 | 231 | 101% | 399 | 16% | ||||||||||||||||||
Amount paid on Acquisitions, Net of Cash Acquired | 0 | 0 | n.a. | 0 | n.a. | ||||||||||||||||||
Purchases of Property and Equipment | (277) | (341) | -19% | (149) | 87% | ||||||||||||||||||
Purchases and Development of Intangible Assets | (253) | (234) | 8% | (260) | -3% | ||||||||||||||||||
Acquisition of Financial Investments | (22) | 66 | n.a. | (154) | -85% | ||||||||||||||||||
Redemption of Financial Investments | 0 | 0 | n.a. | 0 | n.a. | ||||||||||||||||||
Net Cash provided by (used in) Investing Activities | (553) | (509) | 9% | (562) | -2% | ||||||||||||||||||
Payment of Borrowings | 0 | 0 | n.a. | 0 | n.a. | ||||||||||||||||||
Proceeds from Borrowings | 100 | 0 | n.a. | 200 | -50% | ||||||||||||||||||
Payment of Borrowings Interest | 0 | (7) | n.a. | 0 | n.a. | ||||||||||||||||||
Payment of Leases | (5) | (6) | -16% | (4) | 12% | ||||||||||||||||||
Acquisition of Treasury Shares | (98) | 0 | n.a. | (45) | 117% | ||||||||||||||||||
Capital Increase by non-controlling Shareholders | 0 | 0 | n.a. | 0 | n.a. | ||||||||||||||||||
Net Cash provided by (used in) Financing Activities | (3) | (13) | n.a. | 150 | n.a. | ||||||||||||||||||
Increase (Decrease) in Cash and Cash Equivalents | (92) | (291) | -68% | (13) | 612% | ||||||||||||||||||
Cash and Cash Equivalents at the beginning of the Period | 1,816 | 1,483 | 22% | 1,829 | -1% | ||||||||||||||||||
Cash and Cash Equivalents at the end of the Period | 1,724 | 1,192 | 45% | 1,816 | -5% |
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PagSeguro Digital Ltd. | ||||||||
By: | /s/ Artur Schunck | |||||||
Name: | Artur Schunck | |||||||
Title: | Chief Financial Officer, Chief Accounting Officer and Investor Relations Officer |
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