Technos (TECN3) Q2 2025 earnings summary

Executive summary

• Net revenue reached R$121.9M in 2Q25, up 22.5% year-over-year, driven by higher sales volume and average price.

• Gross profit increased 24.1% to R$67.9M, with gross margin improving by 0.7 percentage points to 55.7%.

• Adjusted EBITDA rose 25.5% to R$32.1M, marking 19 consecutive quarters of growth and record profitability.

• Net income declined 4.9% year-over-year to R$19.1M, mainly due to temporary, non-cash FX hedging effects.

• Net debt improved to R$-30.6M, indicating a stronger cash position.

Financial highlights

• Gross revenue for the quarter was R$143.0M, up 23.9% from 2Q24; year-to-date gross revenue reached R$244.7M, up 25.7%.

• Sales volume grew 5.1% to 609,000 units, and average price increased 17.9% to R$235 per unit in 2Q25.

• Selling expenses rose 13.4% to R$29.3M, while administrative expenses decreased 3.7% to R$10.2M.

• Adjusted EBITDA margin improved to 26.3% in 2Q25 from 21.1% in 2Q24.

• Working capital increased 32.7% year-over-year to R$305.7M, mainly from higher accounts receivable and inventory.

Key financial ratios and metrics

• Gross margin for 2Q25 was 55.7%, up from 55.0% in 2Q24.

• Adjusted EBITDA margin reached 26.3% in 2Q25, compared to 21.1% in 2Q24.

• Net margin declined to 15.7% from 20.2% in 2Q24.

• Net debt position improved from R$8.3M in 2Q24 to R$-30.6M in 2Q25.

• Cash position at quarter-end was R$66.6M, down from R$94.3M in 2Q24.