StoneCo Ltd. to Announce First Quarter 2024 Financial Results on May 13, 2024 and Adopt New Internal Accounting Policy
April 16 2024 - 7:45AM
StoneCo Ltd. (Nasdaq: STNE, B3: STOC31) (“Stone”) announces that it
will release its first quarter 2024 financial results on Monday,
May 13, 2024 after the market closes and will host a conference
call that afternoon at 5:00pm ET (6:00pm BRT) to discuss the
results.
The Company also announces that, beginning in
the first quarter of 2024, it will adopt a new internal accounting
policy for the recognition of membership fee revenues. Membership
fee revenue is generated from a non-refundable set up fee paid
upfront by a merchant client upon the signing of its service
agreement contract for some of our offerings. Previously, the
Company recognized the entire membership fee at the time it was
paid. Under the new policy, the recognition of these revenues will
be deferred through the expected lifetime of the merchant client.
For fiscal year 2023, membership fee revenue accounted for R$316
million in net revenue from transaction revenues.
Impact of Policy Change
This change is expected to:
- Have no impact on our 2024 Guidance given the strong continued
performance of the business.
- Have no impact on the Company's cash
position or its ongoing cash flow generation.
- Reduce transaction revenues by
approximately R$60-70 million in 1Q24 and R$160-200 million in
FY2024 and increase deferred revenue liabilities by the same
amounts in 1Q24 and FY2024.
2024 Guidance Remains Unchanged
GUIDANCE |
2023 |
∆% y/y |
2024 |
∆% y/y |
MSMB
TPV (R$bn) |
350 |
+21% |
>
412 |
>
+18% |
Clients Deposits (R$bn) |
6.1 |
+52% |
>
7.0 |
>
+14% |
Growth
↑ |
|
|
|
|
|
|
|
|
|
Credit Portfolio (R$bn) |
0.3 |
n.a. |
>
0.8 |
>
+2.6x |
MSMB
Take Rate (%) |
2.45% |
+30bps |
>
2.49% |
>
+4bps |
Monetization
↑ |
|
|
|
|
|
|
|
|
|
Adjusted Net Income (R$bn) |
1.6 |
+3.8x |
>
1.9 |
>
+22% |
Adjusted Administrative Expenses (R$bn) |
1.052 |
+6% |
<
1.125 |
<
+7% |
Efficiency
↑ |
|
|
|
|
The conference call can be accessed live over
the Zoom webinar (ID: 819 7276 5380 | Password: 819157). You can
also access the meeting over the phone by dialing +1 646 931 3860
or +1 669 444 9171 from the U.S. Callers from Brazil can dial +55
21 3958 7888. Callers from the UK can dial +44 330 088 5830. The
call will also be webcast live and a replay will be available a few
hours after the call concludes. The live webcast and replay will be
available on Stone’s investor relations website at
https://investors.stone.co/.
The Company will begin its Quiet Period related to first quarter
2024 financial results on April 22, 2024.
About Stone
Stone is a leading provider of financial
technology and software solutions that empower merchants to conduct
commerce seamlessly across multiple channels and help them grow
their businesses.
Contact:
Investor Relations investors@stone.co
StoneCo (NASDAQ:STNE)
Historical Stock Chart
From Jul 2024 to Aug 2024
StoneCo (NASDAQ:STNE)
Historical Stock Chart
From Aug 2023 to Aug 2024