AGI (AGBK) Q3 2026 earnings summary

Executive summary

• 3Q26 net income reached R$276.0 million, up 37.8% QoQ and 31.1% YoY; credit origination hit a quarterly record of R$10.2 billion.

• Active clients reached 8.3 million, up 29.4% YoY, while INSS payroll-credit market share rose to 10.0%.

• Growth in customers, lending and fee revenues supported an AI-enabled platform strategy; first-half regulatory transition costs weighed on year-to-date results.

Financial highlights

• Total revenue was R$3,216.3 million, up 14.9% YoY; net interest income was R$1,318.5 million, up 10.1% YoY.

• Fee revenue reached R$244.1 million, up 80.1% QoQ and 29.8% YoY; gross credit origination was R$10.2 billion, up 42.5% QoQ and 76.5% YoY.

• Net income was R$276.0 million, up 37.8% QoQ and 31.1% YoY; EBT was R$187.2 million, up 62.8% QoQ and down 14.6% YoY.

• 9M26 revenue rose 21.3% YoY to R$9,383.8 million, while net income fell 20.3% to R$662.8 million and EBT fell 52.8% to R$518.2 million.

Outlook and guidance

• Priorities include executing the business plan through customer and portfolio growth, technology investment and long-term value creation.

• AI across business units is intended to lower unit costs and improve acquisition, service, funding and credit-risk decisions as volumes scale.

• New loan vintages are expected to contribute as they mature; management sees potential for further efficiency gains and fee growth from insurance brokerage and Agi+ subscriptions.

• Margin recovery is possible as newer vintages mature, subject to market and interest-rate conditions; assumptions include Selic rates, originations, payroll-lending regulation and Brazil’s macroeconomy.