The company took the lead in terms of retail software, quadrupled the number of active payment accounts, and set records for new customers, accelerating growth
SÃO PAULO, Nov. 17, 2021 /PRNewswire/ -- StoneCo today presented its third quarter financial statements with indicators that point to success in the strategy defined at the time of its IPO (three years ago) and has increasingly consolidated its purpose of serving Brazilian entrepreneurs, turning their dreams into results.
Adjusted Net income reached R$ 132.7 million, resuming its positive sequence after its off-the-curve negative result in Q2 this year.
The total payments volume (TPV) grew 54% compared to the same quarter last year, reaching R$ 75 billion, and the number of active means of payment clients reached 1.4 million, more than doubling compared to the same period last year, largely due to the record number of 294 thousand clients gained this quarter. As a result of this performance, the company's market share has been evolving consistently in recent quarters, going from 10.6% in Q1 this year to the current 12.7%.
The number of active banking accounts exceeded 423,000, which means more than a four-fold increase over the same period in 2020. Furthermore, with the consolidation of Linx, Stone exceeded 200 thousand software clients and delivered a revenue expansion of 17 times greater than what was obtained in Q320. Thus, Stone is consolidating itself as the leader in retail software.
"With the current set of solutions for different retail sectors, we are offering the best workflow tools for generating efficiency for clients", says Stone President Augusto Lins. "Our goal has always been to help them sell more through multiple channels. We are only at the beginning of our journey in combining software and financial services, which will bring even more relevant results for entrepreneurs, but we are very excited about the opportunities that lie ahead", adds Lins.
Since the beginning, Stone Co has been dedicated to building its business around Brazilian entrepreneurs, always believing that this is the way to positively impact the country's society. This required a very strong local presence to be close to clients, especially in Brazil's hinterland, relying on proprietary technology – which provides cost efficiency and reliability – and an emphasis on quality of service. By fully integrating Linx, Stone, which has just completed its third anniversary as a public traded company at Nasdaq, remains firm in its purpose of serving Brazilian entrepreneurs. With the solutions currently offered by Stone, far beyond POS card terminals, these entrepreneurs are better supported and safer to make their businesses prosper. Stone Co, in line with its aspirations since the IPO, has consolidated itself as a retail software leader, already serving more than 200,000 clients and projecting a huge expansion potential with micro, small and medium entrepreneurs - around 30 million across Brazil.