LPS Brasil - Consultoria de Imóveis (LPSB3) Q1 2026 earnings summary

Executive summary

• The first quarter of 2026 was marked by high but slowly declining interest rates, ongoing geopolitical uncertainties, and credit constraints, impacting consumer decisions, especially among the middle class.

• Affordable and high-end segments drove market activity, with strong growth in São Paulo launches totaling R$2.9 billion, up 53% year-over-year.

• The company expanded to 159 stores, opening two new corporate-owned locations in Rio de Janeiro.

• CrediPronto mortgage origination reached R$1.4 billion, a 12% increase year-over-year, achieving an 8.5% market share among private banks.

• Consolidated net income before IFRS adjustments was R$8.1 million, up 16% year-over-year; after IFRS, net income was R$1.7 million, down 64%.

Financial highlights

• Net revenue reached R$49.2 million, up 2% year-over-year.

• EBITDA for the quarter was R$13.7 million, a 6% increase from 1Q25, with a margin of 27.9%.

• Intermediation GSV was R$2.5 billion, down 10% year-over-year.

• CrediPronto gross revenue grew 14% to R$23.7 million.

• Operating cash flow was R$10.3 million, up 86% year-over-year.

Outlook and guidance

• Management expects continued growth in mortgage origination and highlights strong launches and financing origination as supporting a positive outlook.

• Operational efficiency and value creation for stakeholders remain key focuses amid market uncertainties.