Bemobi Mobile Tech (BMOB3) Q1 2025 earnings summary

Executive summary

• Net revenue grew 18% year-over-year, led by Digital Subscriptions (+26% YoY) and Payments (+23% YoY), with expansion into the Czech Republic, UAE, and new large partners in education and utilities.

• Client base expanded to 1,514 active clients across 60 countries, including major enterprises and medium-sized companies.

• Payments and SaaS now account for about 60% of revenue, with payments gaining momentum and international operations growing.

• Payment Solutions TPV rose 26% YoY to R$2.4 billion, with strong operational cash generation of R$43.3 million (+28% YoY) and a cash position at R$520 million.

• Adjusted EBITDA rose 22% YoY to R$56.6 million, with margin up 110bps to 33.9%.

Financial highlights

• Net revenues increased 17.9% YoY to R$167.0M, with international revenue share rising to 41%.

• Gross margin reached R$121.1 million, up 18% YoY, with a margin of 72.5%.

• Adjusted EBITDA grew 22% YoY to R$56.6M, with margin expanding to 33.9%.

• Net income was R$28 million (adjusted ex-swap, +20% YoY), with net margin of 16.8%; reported net income reached R$34.8 million (+59% YoY), net margin 20.9%.

• Free cash flow was negative at -R$68M, impacted by R$83M in non-recurring outflows (dividends, buybacks).

Outlook and guidance

• Payments expected to continue outpacing other segments in growth, with digital subscriptions remaining resilient but slowing.

• International payment expansion focused on Chile, Colombia, Mexico, and Latam, with material impact expected from 2026.

• Management targets minimum net income of R$100 million for 2025 and R$200 million in dividends, with R$58.5 million already approved.

• Capex expected to grow slower than operational performance, supporting enhanced cash generation.