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Vasta Platform (VSTA) investor relations material
Vasta Platform Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Net revenue for the 2025 sales cycle rose 13.6% year-over-year to BRL 1.737 billion, driven by strong ACV bookings and growth in both subscription and complementary solutions.
Subscription revenue grew 14.3% year-over-year to BRL 1.552 billion, with ACV bookings of BRL 1.552 billion.
Complementary solutions expanded 25.3% year-over-year, reinforcing ecosystem strength and diversified offerings.
Adjusted EBITDA increased 10% to BRL 494 million, with margin slightly down to 28.4% due to lower gross margin and higher expenses.
Free cash flow surged 117% to BRL 316 million, with FCF/EBITDA conversion improving to 64%.
Financial highlights
Adjusted net profit reached BRL 88 million, a 32.2% increase from the previous year.
Net debt decreased by BRL 177 million, with leverage ratio reduced to 1.75x EBITDA.
Gross margin declined by 1.4 percentage points to 62.8%, mainly due to sales mix and higher royalties.
Adjusted EBITDA for 3Q25 was BRL 31 million (12.6% margin), a 47.6% increase over 3Q24.
Finance income benefited from a BRL 207 million gain on tax contingency reversals; finance costs fell 8.9% year-over-year.
Outlook and guidance
Expecting mid double-digit revenue growth for 2026, with continued market share gains in premium learning systems.
Complementary products projected to maintain growth above 20% for 2026.
Eight new bilingual education units planned for launch in the upcoming year.
Early collections in 2025 contributed to higher free cash flow, expected to normalize next quarter.
Strong pipeline in B2G and Start-Anglo segments, with new contracts and school launches planned.
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