Cambuci (CAMB3) Q2 2026 earnings summary

Executive summary

• Net revenue fell 5.5% year-over-year in 2Q26 to R$94.1 million, reflecting weaker consumer demand and a temporary reduction in sports goods sales during the FIFA World Cup period.

• Gross margin improved to 49.7% in 2Q26 (up 0.3 p.p.), despite higher input costs and limited ability to pass on price increases.

• EBITDA margin declined to 17.0% in 2Q26 (down 6.8 p.p.), mainly due to lower revenue and increased marketing and personnel expenses.

• Net income dropped 39.3% year-over-year in 2Q26 to R$12.2 million, with a net margin of 13.0%.

• Operational cash generation reached R$17.0 million in 6M26/1H26, with a robust net cash position of R$52.7 million at quarter-end.

Financial highlights

• Net revenue: R$94.1 million in 2Q26 (R$99.6 million in 2Q25); R$193.2 million in 6M26 (R$197.5 million in 6M25).

• Gross profit: R$46.8 million in 2Q26 (R$49.2 million in 2Q25); R$97.5 million in 6M26 (R$97.4 million in 6M25).

• EBITDA: R$16.0 million in 2Q26 (R$23.7 million in 2Q25); R$36.5 million in 6M26 (R$47.1 million in 6M25).

• Net income: R$12.2 million in 2Q26 (R$20.1 million in 2Q25); R$31.9 million in 6M26 (R$39.3 million in 6M25).

• SG&A expenses increased 15.6% in 2Q26 and 17.8% in 6M26, mainly due to higher marketing and personnel costs.

Outlook and guidance

• Management will focus on cash preservation, margin maintenance, cost discipline, operational efficiency, and sales efforts in 2H26.

• Product launches in the second half of 2026 are expected to add dynamism to the business.

• Investments in technology, new products, and management are expected to support medium- and long-term growth.