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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Cogna Educação
Cogna Educação (COGN3) investor relations material
Cogna Educação Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary13 Aug, 2026
Executive summary
Achieved strong double-digit growth in net revenue and net income year-over-year, led by Basic Education and supported by portfolio diversification and operational efficiency amid regulatory changes in higher education.
Free cash flow and operating cash flow saw robust increases, reflecting improved cash generation and disciplined capital allocation.
Strategic acquisition of a majority stake in Educbank strengthens the Basic Education ecosystem and technological capabilities.
Leverage improved to 1.10x, with net debt reduced by R$21.8M year-over-year.
Financial highlights
Net revenue in Q2 2026 reached R$1,960.7M, up 17.8% YoY; H1 2026 net revenue was R$4,106.9M, up 24.7% YoY.
Recurring EBITDA for Q2 2026 was R$589.4M (+6.8% YoY); H1 2026 recurring EBITDA was R$1,269.0M (+14.6% YoY), with margin contraction of 3.0 p.p. and 2.7 p.p., respectively.
Net income in Q2 2026 was R$148.9M (+25.3% YoY); H1 2026 net income was R$290.3M (+35.7% YoY).
Free cash flow for H1 2026 reached R$504.3M, up 77.7% YoY.
Net debt leverage reduced to 1.10x, with net debt down R$21.8M YoY.
Outlook and guidance
Management reaffirms commitment to sustainable growth, capital discipline, and value creation through business diversification and digital transformation.
Continued focus on expanding hybrid and distance learning, leveraging technology for operational efficiency, and resumption of student intake in nursing programs.
Expect continued revenue growth in the third and fourth quarters, with higher average ticket offsetting lower enrollment volumes.
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Latest events from Cogna Educação
- Net revenue up 31.9% and net income up 48.7%, with improved leverage and strong cash flow.COGN3
Q1 2026 - Net revenue rose 9.8% to R$7.0 billion, with EBITDA up 5.8% and leverage at 1.21x.COGN3Q4 2025
- Double-digit revenue and EBITDA growth, net income turnaround, and record-low leverage.COGN3Q3 2025
- Double-digit growth in revenue, EBITDA, and net income, with leverage at a multi-year low.COGN3Q2 2025
- Recurring EBITDA up 25.9%, leverage at 1.58x, and cash generation surged 57%.COGN3Q3 2024
- Recurring EBITDA up 13.1% and leverage at 1.79x, with strong growth in Kroton and Vasta.COGN3Q2 2024
- Net profit rebounded to R$95.1M, with margin and cash flow gains led by Kroton's growth.COGN3Q1 2025
- Net revenue rose 8.9% and net income reached R$879.9 million, with improved leverage and strong cash flow.COGN3Q4 2024
Next Cogna Educação earnings date
Q3 202612 Nov, 2026
Cogna Educação
Next Cogna Educação earnings date
Q3 202612 Nov, 2026
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Frequently asked questions
Cogna Educação S.A. is an educational organization based in Brazil. The company provides a comprehensive range of educational services and products across various learning stages, including primary, secondary, and higher education. Cogna is organized into three main segments: In-Class Higher Education, Distance Learning Higher Education, and Basic Education. These segments encompass a wide array of educational activities such as the management and provision of undergraduate and graduate courses, technical and vocational education, as well as K-12 education. The company also engages in the publishing, distribution, and sale of educational materials and textbooks, and offers educational solutions and services tailored for professional and higher education. The company is headquartered in Belo Horizonte, Minas Gerais, and its shares are listed on the São Paulo Stock Exchange.