Bemobi Mobile Tech (BMOB3) Q4 2024 earnings summary

Executive summary

• Achieved record revenue and EBITDA growth in 2024, with all four business verticals expanding and Payments and SaaS now representing over 55% of total revenue.

• Digital Subscriptions and Payments led growth, with TPV reaching R$2.3 billion (+26% YoY) and Digital Subscriptions revenue up 34% YoY.

• Operational cash generation was R$41.4 million in 4Q24 (+22% YoY), with a cash conversion rate above 75%.

• New dividend policy approved for 2025, targeting R$200 million in distributions and 100% payout of 2024 net income.

• International expansion, especially in Europe and Mexico, and product innovation drove performance despite margin pressures.

Financial highlights

• Net revenue reached R$607.5 million in 2024 (+12.2% YoY); consolidated net revenue was R$1,498.1 million, up from R$1,307.8 million in 2023.

• Adjusted EBITDA was R$200.4 million (+14% YoY), with a margin of 33.0%.

• Adjusted net income ex-swap was R$135.9 million (+20% YoY); net income attributable to controlling shareholders was R$119.5 million.

• Gross margin was 71.4% in 4Q24 and 71.5% for 2024, down from 73.2% in 2023 due to higher customer acquisition costs.

• Free cash flow generation was R$148.1 million (+16% YoY); cash position at year-end was R$589 million.

Outlook and guidance

• Management expects continued growth in Payments, SaaS, and international operations, supported by new client wins and expansion in education and utilities sectors.

• Dividend policy for 2025 targets up to 100% payout, with R$58 million in complementary dividends for 2024 and R$200 million planned for 2025.

• Ongoing investments in payments platforms, R&D, and selective M&A to drive future growth.