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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.
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.
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