LPS Brasil - Consultoria de Imóveis (LPSB3) Q2 2026 earnings summary

Executive summary

• The second quarter of 2026 saw resilient real estate activity in Brazil, with 31 project launches totaling BRL 5.2 billion in GSV and intermediated volume of BRL 2.6 billion, despite high interest rates and international uncertainties.

• CrediPronto originated BRL 1.6 billion in financing, achieving an 8.1% market share among private banks and driving a 93% year-over-year surge in mortgage volume.

• Net revenue reached BRL 54.6 million in 2Q26, up 7% year-over-year, but net income before IFRS dropped 37% and consolidated net income after IFRS fell 58% due to margin compression and lower transaction volumes.

• Operational expenses rose 25% year-over-year, driven by higher personnel and commission costs, impacting profitability.

• The company remains focused on operational efficiency, disciplined execution, and sustainable value creation amid ongoing macroeconomic and industry risks.

Financial highlights

• Launches reached BRL 5.2 billion in Q2 2026, up 7% year-over-year, and BRL 9.8 billion in 1H26, up 9% year-over-year.

• Intermediations totaled BRL 2.6 billion in Q2 2026, down 20% year-over-year.

• Net revenue was BRL 54.6 million in Q2 2026 (+7% YoY) and BRL 103.8 million in 1H26 (+4% YoY).

• EBITDA for Q2 2026 was BRL 15.1 million (27.6% margin), down 23% year-over-year.

• Cash and cash equivalents at quarter-end were BRL 34.6 million; total liquidity including financial investments was BRL 56.6 million.

Outlook and guidance

• Management highlights growth in launches and CrediPronto origination but notes pressure on margins and profitability due to higher costs and lower intermediated volumes.

• Forward-looking statements are subject to risks including macroeconomic volatility, industry performance, and market changes.

• The company remains focused on operational excellence and disciplined strategy execution to drive sustainable growth.