PagBank posts record quarter with net income (Non-GAAP) of 542 million BRL (+31% y/y)
PagBank (NYSE: PAGS) reported record results for Q2 2024, with Non-GAAP net income of 542 million BRL (+31% y/y) and GAAP net income of 504 million BRL (+31% y/y). The company achieved a record TPV of 124.4 billion BRL (+34% y/y) in acquiring, outpacing industry growth. Digital banking revenues reached 434 million BRL (+41% y/y), with deposits growing to 34.2 billion BRL (+87% y/y).
PagBank received a AAA.br rating from Moody's, the highest on the local scale. The company raised its 2024 guidance, now expecting TPV growth of 22-28% y/y and Non-GAAP net income growth of 19-25% y/y. Total Revenue and Income for Q2 was 4.6 billion BRL (+19% y/y), with the client base reaching 31.6 million.
PagBank (NYSE: PAGS) ha riportato risultati record per il secondo trimestre del 2024, con un utile netto Non-GAAP di 542 milioni di BRL (+31% su base annua) e un utile netto GAAP di 504 milioni di BRL (+31% su base annua). L'azienda ha raggiunto un TPV record di 124,4 miliardi di BRL (+34% su base annua) nel comparto delle acquisizioni, superando la crescita del settore. I ricavi bancari digitali hanno raggiunto 434 milioni di BRL (+41% su base annua), con depositi che sono cresciuti fino a 34,2 miliardi di BRL (+87% su base annua).
PagBank ha ricevuto un rating AAA.br da Moody's, il più alto nella scala locale. L'azienda ha elevato le sue previsioni per il 2024, aspettandosi ora una crescita del TPV del 22-28% su base annua e una crescita dell'utile netto Non-GAAP del 19-25% su base annua. Il fatturato totale e l'utile per il secondo trimestre è stato di 4,6 miliardi di BRL (+19% su base annua), con la base clienti che ha raggiunto 31,6 milioni.
PagBank (NYSE: PAGS) reportó resultados récord para el segundo trimestre de 2024, con un ingreso neto Non-GAAP de 542 millones de BRL (+31% interanual) y un ingreso neto GAAP de 504 millones de BRL (+31% interanual). La compañía logró un TPV récord de 124,4 mil millones de BRL (+34% interanual) en adquisiciones, superando el crecimiento de la industria. Los ingresos de la banca digital alcanzaron 434 millones de BRL (+41% interanual), con depósitos que crecieron a 34,2 mil millones de BRL (+87% interanual).
PagBank recibió una calificación AAA.br de Moody's, la más alta en la escala local. La compañía elevó su guía para 2024, ahora esperando un crecimiento del TPV del 22-28% interanual y un crecimiento del ingreso neto Non-GAAP del 19-25% interanual. Los ingresos totales y el ingreso para el segundo trimestre fueron de 4,6 mil millones de BRL (+19% interanual), con una base de clientes que alcanzó 31,6 millones.
PagBank (NYSE: PAGS)는 2024년 2분기 기록적인 결과를 보고했습니다. 비 GAAP 순이익 5억 4200만 BRL (+31% 전년대비) 및 GAAP 순이익 5억 400만 BRL (+31% 전년대비)로 집계되었습니다. 이 회사는 TPV 1,244억 BRL (+34% 전년대비)라는 기록을 세워 산업 성장률을 초과했습니다. 디지털 뱅킹 수익은 4억 3400만 BRL (+41% 전년대비)에 도달하였으며, 예금은 342억 BRL (+87% 전년대비)로 증가했습니다.
PagBank는 Moody's로부터 AAA.br 등급을 받았으며, 이는 현지 스케일에서 가장 높은 등급입니다. 이 회사는 2024년 전망을 상향 조정하였으며, 이제 TPV 성장률을 전년 대비 22-28% 및 비 GAAP 순이익 성장률을 전년 대비 19-25%로 예상하고 있습니다. 2분기 전체 수익과 수입은 46억 BRL (+19% 전년대비)였으며, 고객 기반은 3160만 명에 도달했습니다.
PagBank (NYSE: PAGS) a annoncé des résultats records pour le deuxième trimestre de 2024, avec un revenu net Non-GAAP de 542 millions de BRL (+31% en glissement annuel) et un revenu net GAAP de 504 millions de BRL (+31% en glissement annuel). L'entreprise a atteint un TPV record de 124,4 milliards de BRL (+34% en glissement annuel) dans l'acquisition, surpassant la croissance du secteur. Les revenus de la banque numérique ont atteint 434 millions de BRL (+41% en glissement annuel), avec des dépôts grimpant à 34,2 milliards de BRL (+87% en glissement annuel).
PagBank a reçu une note AAA.br de Moody's, la plus élevée sur l'échelle locale. L'entreprise a relevé ses prévisions pour 2024, s'attendant désormais à une croissance du TPV de 22-28% en glissement annuel et à une croissance du revenu net Non-GAAP de 19-25% en glissement annuel. Le chiffre d'affaires total et le revenu pour le 2ème trimestre étaient de 4,6 milliards de BRL (+19% en glissement annuel), avec une base de clients atteignant 31,6 millions.
PagBank (NYSE: PAGS) hat für das 2. Quartal 2024 Rekordzahlen gemeldet, mit einem Non-GAAP Nettoergebnis von 542 Millionen BRL (+31% im Vergleich zum Vorjahr) und einem GAAP Nettoergebnis von 504 Millionen BRL (+31% im Vergleich zum Vorjahr). Das Unternehmen erzielte einen Rekord-TPV von 124,4 Milliarden BRL (+34% im Vergleich zum Vorjahr) im Bereich Akquisitionen, wodurch es das Marktwachstum übertraf. Die Einnahmen aus dem digitalen Banking erreichten 434 Millionen BRL (+41% im Vergleich zum Vorjahr), während die Einlagen auf 34,2 Milliarden BRL (+87% im Vergleich zum Vorjahr) stiegen.
PagBank erhielt eine AAA.br-Bewertung von Moody's, die höchste Bewertung auf der lokalen Skala. Das Unternehmen hat seine Prognose für 2024 angehoben und erwartet nun ein TPV-Wachstum von 22-28% im Vergleich zum Vorjahr sowie ein Wachstum des Non-GAAP Nettoergebnisses von 19-25% im Vergleich zum Vorjahr. Der Gesamtumsatz und das Einkommen für das 2. Quartal betrugen 4,6 Milliarden BRL (+19% im Vergleich zum Vorjahr), und die Kundenbasis erreichte 31,6 Millionen.
- Record Non-GAAP net income of 542 million BRL, up 31% year-over-year
- Record TPV of 124.4 billion BRL, growing 34% year-over-year
- Digital banking revenues increased 41% year-over-year to 434 million BRL
- Deposits grew 87% year-over-year to 34.2 billion BRL
- Received AAA.br rating from Moody's, the highest on the local scale
- Raised 2024 guidance for TPV growth to 22-28% and Non-GAAP net income growth to 19-25%
- Total Revenue and Income reached 4.6 billion BRL, up 19% year-over-year
- Client base expanded to 31.6 million
- None.
Insights
PagBank's Q2 2024 results demonstrate robust growth and profitability. The record Non-GAAP net income of
The company's focus on Micro and Small Enterprises (MSMEs) and new verticals is paying off, contributing to diversified revenue streams. The digital banking segment's cash-in growth of
The raised guidance for TPV and Non-GAAP net income growth indicates management's confidence in sustaining this momentum. Investors should note the company's ability to balance growth and profitability, a important factor for long-term success in the fintech sector.
PagBank's Q2 results reveal a strategic positioning that's yielding significant dividends. The company's focus on MSMEs, which account for
The launch of new services like anticipating receivables from other POS and multiple boleto payments demonstrates PagBank's commitment to innovation and customer-centric solutions. These offerings address pain points for merchants and individual users, potentially driving higher engagement and loyalty.
The company's ability to attract deposits and grow its user base (31.6 million clients) in a competitive landscape suggests strong brand recognition and customer satisfaction. The focus on encouraging customers to use PagBank as their main bank could lead to higher customer lifetime value and reduced churn, important for sustainable growth in the fintech sector.
In acquiring, record TPV of
SÃO PAULO, Aug. 21, 2024 /PRNewswire/ -- PagBank (NYSE: PAGS), a complete digital bank in financial services and payments solution, announces its results for the second quarter of 2024 (2Q24). Among the key highlights of the period, the company recorded a record net income (Non-GAAP) of 542 million BRL (+
After almost two years as CEO of PagBank, Alexandre Magnani celebrates the record numbers, the result of the strategy implemented and executed since the beginning of 2023: "We have nearly 32 million clients. These figures consolidate PagBank as a solid and complete bank, reinforcing our purpose of facilitating the financial life of people and businesses in a simple, integrated, secure and accessible way," says the CEO.
In acquiring, the TPV registered was a record, reaching
In digital banking, PagBank reached
"This month, we received the AAA.br rating from Moody's, with a stable outlook, the highest level on the local scale. In less than a year, both S&P Global and Moody's have given us the highest rating on their local scale: triple-A. At PagBank, our customers have the same solidity as the country's largest financial institutions but with better returns and terms. This is only possible because we have a lean cost structure and the agility of a fintech," says Magnani.
In 2Q24, the credit portfolio grew +
According to Artur Schunck, CFO of PagBank, the acceleration in volumes and revenues, combined with cost and expense discipline, were the main drivers of the record results. "We have managed to balance growth and profitability. Revenue growth has accelerated in recent quarters and our investments in expanding commercial teams, marketing activities and improving customer service have not impacted profit growth, giving us the impetus to raise our TPV and Non-GAAP net income guidance," said Schunck.
As the first half of 2024 draws to a close, the company has raised its TPV and Non-GAAP net income guidance for the year. For TPV, the company now expects growth of between +
Other Highlights
Total Revenue and Income in 2Q24 was
PagBank has been working on launching new products and services that will expand its increasingly complete portfolio of solutions to make it easier for its customers to do business. The digital bank has just launched the service of anticipating receivables from other POS, with same-day deposit to the account for customers with a PagBank domicile. This August, eligible customers can count on this service in their bank account.
"This will be a new way for merchants to access their receivables centrally. It will allow them to view and forecast all sales from any acquirer in the PagBank application, without having to access multiple applications," Magnani explains. According to the CEO, in this first phase of the product, the company offers features such as self-service contracting, same-day disbursement for PagBank customers, and customized negotiations by acquirer and amount.
Another feature that has just been made available is the multiple payment of boletos. This allows several payments to be made simultaneously in a single transaction, reducing the time needed to process each boleto individually. The solution mainly benefits PF (individual) or PJ (business) account users who want to pay several bills at once. In addition to these launches, there are many more to come.
"For our 6.4 million merchant and business customers, these and other competitive advantages, such as zero fees for new merchants, on-the-spot prepayments to PagBank accounts, express POS delivery and Pix acceptance, are key differentiators. We are focused on attracting and retaining customers and encouraging them to use PagBank as their main bank, thereby generating more value for the company and contributing to our sustainable growth," added Alexandre Magnani, CEO of PagBank.
To access PagBank's full balance sheet for 2Q24, click here.
Important Note Regarding Forward-Looking Statements
This document contains certain forward-looking statements. Forward-looking statements are not historical facts or related to future events and are subject to risks and uncertainties. There can be no assurance that the forward-looking statements contained in this press release will be realized or achieved. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether due to new information, future events or otherwise.
About PagBank
PagBank promotes innovative solutions in financial services and means of payment, automating the purchase, sale, and transfer process to leverage individuals' and enterprises' businesses simply and securely. A company of the UOL Group – leader of the Brazilian Internet – PagBank acts as an issuer and acquirer, offering digital accounts and providing complete solutions for online and face-to-face payments (by mobile devices and POS devices).
PagBank also has a wide variety of means of payment, such as credit and prepaid cards, bank transfers, payments by billet, and balance in the account, among others. PagBank (PagSeguro Internet Payment Institution S.A) is regulated by the Central Bank of
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SOURCE PagBank
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