B3 - Brasil, Bolsa, Balcão (B3SA3) Q1 2026 earnings summary

Executive summary

• Achieved record quarterly revenue of R$3.2 billion in 1Q26, up 20.5% year-over-year, driven by higher market activity, strong foreign capital inflows, and recurring revenue expansion.

• Recurring net income rose 33.1% to R$1.5 billion, with recurring EPS up 38.6% to R$0.30, reflecting operational leverage and share buybacks.

• Significant growth in derivatives and equities volumes, with derivatives ADV up 16.4% and equities ADTV up 46% year-over-year, supported by foreign inflows and volatility.

• Launched new digital options (Ibovespa, Bitcoin, USD) and extended trading hours for crypto and gold futures.

• Innovation initiatives advanced, including ESG Workspace platform, co-location infrastructure, and minority investment in alternative assets.

Financial highlights

• Net revenue reached R$2.87 billion (+20.3% YoY); recurring EBITDA was R$2.1 billion (+23.9% YoY) with a margin of 71.6%.

• Net income attributable to shareholders was R$1.48 billion (+33.5% YoY); recurring EPS: R$0.30 (+38.6% YoY).

• Cash generation from operations was R$1.76 billion, with R$1.18 billion generated after investments and financing.

• Expenses increased 10.9% YoY; adjusted expenses up 6.3%, mainly due to personnel and IT costs.

• Financial result positive at R$112 million, mainly due to higher CDI rates.

Outlook and guidance

• Management expects continued growth in recurring revenues and further expansion in market activity, supported by favorable macroeconomic conditions and ongoing product innovation.

• Ongoing investments in technology, infrastructure, and new product development to sustain growth.

• Several companies are ready for IPOs, with supply not a constraint; future activity depends on market demand and interest rate environment.