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TOTVS (TOTS3) investor relations material
TOTVS Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2025 earnings summary7 Aug, 2025
Executive summary
Net revenue reached R$1.5 billion in Q2, up 17% year-over-year, driven by strong recurring and SaaS revenue growth.
Adjusted net income surged 51% year-over-year, with EBITDA up 23% and margin expansion supported by operational efficiency and tax benefits.
Announced acquisition of Linx/Lynx, expected to enhance ecosystem, competitive differentiation, and support a new growth cycle.
Management remains focused on scaling recurring revenue, leveraging digitalization, and increasing customer relevance amid tax reform.
Management expects continued operational leverage and margin expansion if current inflation and pricing dynamics persist.
Financial highlights
Recurring revenue grew 20% year-over-year to R$1,357 million, with SaaS/cloud revenue up 25%.
Adjusted EBITDA reached R$363 million (+23% y/y), with margin expanding by 120 basis points to 24.4%.
Adjusted net income in Q2 was R$218 million, 2.8x higher year-over-year, and 4.5x higher YTD.
Free cash flow reached R$196 million (+25% y/y, +51% q/q).
ROIC increased by 350 basis points year-over-year to 20.1%.
Outlook and guidance
Management anticipates continued growth in recurring revenue, leveraging digitalization and tax reform opportunities.
Techfin to further optimize funding structure in Q3, supporting future growth.
No major changes anticipated in management post-Linx/Lynx acquisition, but significant synergy opportunities expected.
Focus on maintaining strong performance in H2 2025 and setting the stage for a successful 2026.
Simplicity and customer relevance remain ongoing strategic drivers.
Explain Techfin's funding structure change.
Assess RD Station's multi-product strategy impact.
How did tax reform affect TOTVS' strategy?
How will Linx acquisition affect retail payments?
What's driving RD Station's renewal rate recovery?
What's the outlook for Dimensa's profitability?
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Q3 20256 Nov, 2025
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Frequently asked questions
TOTVS S.A., provides business management systems and platforms, and related services in Brazil and internationally. It offers TOTVS Business Management System software solutions, including DANFE Viewer for mobile phones; e-Social that manages social security information for employers’ employees; Fagga MX, a cloud-based business management solution; TOTVS Protheus/Fiori, an on-premises cloud solution; and TOTVS TMS Solution Web that enables companies to control their means of transportation. The company also provides Microsiga Protheus, which provides integrated solutions ranging from financial management to production, materials management, and sales; education technology solutions; ERP solutions; omnichannel retail solutions; human resource solutions comprising time recording systems and human resources administration systems. In addition, it offers corporate performance management software solutions to planning, budgeting and consolidation processes. Further, the company provides support and training services through telephone assistance system or internet portal; implementation services; cloud platform services and technical support service plan; content authorization services; desktop outsourcing services and technical support services for implementation of PROtheus platform.
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