Cambuci (CAMB3) Q2 2025 earnings summary

Executive summary

• Net revenue in 2Q25 was R$99.6 million, down 11.8% year-over-year; 1H25 revenue reached R$197.5 million, a decrease of 11.4% from 1H24.

• Gross margin in 2Q25 was 49.4%, slightly below 49.8% in 2Q24; EBITDA margin fell to 23.8% from 27.1%.

• Net income for 2Q25 was R$20.1 million, a 20.9% decrease year-over-year; 1H25 net income was R$39.3 million, down 14.8%.

• Operational cash generation in 1H25 was R$36.6 million; net cash increased by 42.8% and inventories were reduced by 13.7% compared to year-end 2024.

• Maintained high profitability and liquidity despite a volatile environment, focusing on cash preservation, low inventory, and operational margin protection.

Financial highlights

• 2Q25 net revenue: R$99.6M (-11.8% YoY); 1H25: R$197.5M (-11.4% YoY).

• 2Q25 gross profit: R$49.2M (-12.5% YoY); gross margin: 49.4% (-0.4 p.p.).

• 2Q25 EBITDA: R$23.7M (-22.5% YoY); EBITDA margin: 23.8% (-3.3 p.p.).

• Net income per share in 2Q25 was R$0.4814; net margin: 20.2% (-2.3 p.p.).

• Financial result improved 60% in 2Q25 year-over-year, driven by higher cash balances.

Outlook and guidance

• Management expects a challenging 3Q25 due to ongoing global economic and political uncertainties.

• Focus remains on cash preservation, operational efficiency, profitability, and sustainable growth.

• New marketing initiatives and a new advertising agency aim to strengthen brand connection with younger audiences.