Bemobi Mobile Tech (BMOB3) Q4 2024 earnings summary

Executive summary

• Achieved highest revenue and EBITDA growth in nine quarters, with all business lines expanding and record adjusted EBITDA of R$55M in 4Q24 and R$200M for 2024.

• Revenue grew 20% YoY in 4Q24, led by Digital Subscriptions (+34% YoY) and Payments (+16% YoY); Payments and SaaS now represent 57% of revenue.

• Operational cash generation increased 22% YoY to R$41M in 4Q24, with a cash conversion rate above 75%.

• New dividend policy for 2025 targets R$200M distribution, with R$58M allocated for 2024, pending AGM approval.

• Expanded into seven new countries, mainly in Europe, and onboarded 481 new businesses in 2024.

Financial highlights

• Net revenues reached R$165.3M in 4Q24 (+19.8% YoY); full-year 2024 revenues were R$607.5M (+12.2% YoY).

• Adjusted EBITDA for 4Q24 was R$55M (+19% YoY); full-year Adjusted EBITDA was R$200M (+13.6% YoY).

• Adjusted net income ex-swap increased 4% YoY in 4Q24 and 20% YoY in 2024.

• Gross margin was 71.4% in 4Q24 (down 2.1p.p. YoY), impacted by higher acquisition costs; margin expanded 0.4p.p. for the year.

• Free cash flow in 4Q24 was ~R$20M; year-end cash position was R$589M.

Outlook and guidance

• Management expects continued growth in 2025, focusing on Payments, onboarding new clients, and leveraging PIX and Open Finance.

• Dividend policy for 2025 targets up to 100% profit distribution, supporting shareholder returns and M&A.

• Ongoing investments in payments platforms and potential CapEx acceleration.