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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.
TOTVS
TOTVS (TOTS3) investor relations material
TOTVS Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary5 Nov, 2026
Executive summary
3Q26 pro forma net revenue was R$1,977.8mn, up 13.2% YoY; recurring revenue grew 15.1% to R$1,837.2mn, or 92.9% of revenue.
Adjusted EBITDA reached R$500.9mn, up 16.9% YoY; adjusted EBITDA margin was 25.3%, up 80 bps on a pro forma basis.
Q3 marked the 31st consecutive quarter of double-digit organic revenue growth; AI Enablers drove 37% of organic ARR additions.
Low customer concentration, sector diversification, SMB focus and pricing power were cited as resilience factors amid market volatility.
Financial highlights
Net revenue was R$1,977.8mn; recurring revenue was R$1,837.2mn, while non-recurring revenue declined 7.0% to R$140.7mn.
Adjusted gross profit was R$1,453.2mn, up 12.7% YoY, with a 73.5% margin, down 30 bps.
Adjusted net income was R$237.2mn, down 8.8% YoY, with a 12.0% margin; higher financing expenses and lower invested cash after share repurchases weighed on results.
9M26 pro forma revenue totaled R$5,786.6mn, up 13.1%; adjusted EBITDA was R$1,484.9mn, up 20.5%.
Cash and equivalents were R$1,508.8mn at September 30, 2026; reported consolidated net debt was R$3,878.1mn.
Outlook and guidance
Management cited sustained recurring growth, rising cloud consumption and AI offerings as growth drivers; no numerical forward guidance was stated.
TaaS and LYNN were in sales-team training and pilot preparation; 2027 should build the foundation, with some contribution but no material impact expected that year.
Management expects higher-than-historical credit-loss provisioning to support a more favorable comparison if credit conditions normalize; projections remain subject to economic and operating risks.
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Latest events from TOTVS
- AI monetization, bundled software and embedded finance shape the next growth phase.TOTS3
Investor day 2026 presentation - Double-digit recurring revenue and EBITDA growth, with AI and acquisitions fueling performance.TOTS3Q2 2026
- Revenue up 17%, EBITDA up 22%, and net income up 26% in 2025, with strong AI and M&A activity.TOTS3Q4 2025
- Double-digit growth in revenue, EBITDA, and free cash flow across all business units.TOTS3Q3 2025
- Adjusted net income surged 51% year-over-year, driven by recurring revenue and margin gains.TOTS3Q2 2025
- Double-digit recurring revenue and EBITDA growth, margin gains, and strong cash flow in 3Q24.TOTS3Q3 2024
- Q2 2024 net revenue rose 20% YoY, with SaaS and Techfin driving robust recurring growth.TOTS3Q2 2024
- Recurring SaaS revenue and margin gains drove 19% net revenue growth and 44% higher net income.TOTS3Q1 2025
- Double-digit revenue and margin growth, driven by recurring revenue and acquisitions.TOTS3Q4 2024
Next TOTVS earnings date
Q4 202611 Feb, 2027
TOTVS
Next TOTVS earnings date
Q4 202611 Feb, 2027
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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.