Brisanet Serviços de Telecomunicações (BRST3) Q1 2026 earnings summary

Executive summary

• Net revenue for Q1 2026 reached R$453.9 million, up 16% year-over-year, driven by growth in both fixed broadband and mobile customer bases.

• EBITDA totaled R$191.8 million with a margin of 42%, reflecting increased costs from mobile expansion and higher electricity expenses.

• Net income was R$19.1 million, a decrease from R$20.4 million in Q1 2025, but a recovery from a loss in 4Q25.

• Mobile customer base grew to over 953,000, with 101,000 net additions in the quarter and coverage expanded to 313 cities.

• Commercial 5G service began in late 2023, with further expansion planned and spectrum secured in Northeast and Midwest regions.

Financial highlights

• Net revenue reached R$453.9 million in Q1 2026, up 16% year-over-year, with R$62 million revenue growth over Q1 2025.

• Adjusted EBITDA for Q1 2026 was R$191.8 million, an 11% increase from Q1 2025; EBITDA margin at 42%.

• Net income: R$19.1 million (Q1 2026) vs. R$20.4 million (Q1 2025).

• Cash and cash equivalents at quarter-end: R$77.6 million.

• Broadband revenue grew 8% year-over-year, with B2C up 8% and B2B up 12%.

Outlook and guidance

• 5G implementation in newly acquired spectrum bands scheduled between 2026 and 2030, expected to enhance coverage and efficiency.

• Estimated CAPEX for 2026 is R$700 million, focusing on 5G advancement and broadband expansion.

• Management expects margin expansion as the Midwest mobile operation matures, mirroring the Northeast experience.

• Ongoing investments in 5G infrastructure, including a public-private partnership for rural coverage.

• The company is assessing the impact of upcoming accounting standards effective in 2027.