Full Year results out. Good results, with great operating leverage, and opportunities to continue high growth through the new “ton”, financial platform, and software.
Key Takeaways:
- Active clients, 495100 - up 84% yoy
- TPV - R$40.2 billion - up 51.4% yoy
- 2019 net margin - 33.3%, up 11.6 % yoy
- Adj net income $857.1 M, up 150% yoy
- revenue up 63% yoy.
- Take rate 1.8% - down 8 bps yoy
PAYMENTS - Increased market share to estimated 8%, up 2% over the year.
FINANCIAL PLATFORM AND SOFTWARE
Financial platform in pilot mode with 10 000 clients.
Digital banking platform has 79 000 accounts.
135 000 software clients, up 35 000 in 3 months.
ton - NEW MICRO MERCHANT BUSINESS
- Launched March 1, 2020.
- Strong focus on CAC efficiency, as Stone Co has a good handle on micro customer LTV.
- Offering complete ecosystem of financial products.
- Offering Stone Co. business model to micro-merchants.
ACHIEVEMENTS
- 100 new hubs opened to 345 hubs nationally.
- recruitment - 109 k applications through Recruta recruitment program.
- Develop banking and credit business
LEADERSHIP LESSONS LEARNED FROM 2019
- Should of accelerated investments earlier in 2019.
- Software solutions still at small scale. Need to focus on growing rapidly.
- Could of cross sold products (software) more actively.
- Could of invested in social and sustainability projects.
- Delay in launching ton.