LPS Brasil - Consultoria de Imóveis (LPSB3) Q3 2025 earnings summary

Executive summary

• Net revenue reached R$51.6 million in 3Q25, down 2% year-over-year, but up 11% for the nine-month period to R$151.0 million.

• EBITDA for 3Q25 was R$22.9 million, up 11% year-over-year, with a margin of 44.4%, the highest since 2011.

• Net income attributable to controlling shareholders (ex-IFRS) rose 43% year-over-year to R$15.6 million in 3Q25 and 54% to R$32.6 million in 9M25.

• Cash and cash equivalents at period end were R$63.5 million, up 46% year-over-year.

• Maintained profitability and cash position despite funding constraints and high interest rates, focusing on operational efficiency and cash preservation.

Financial highlights

• CrediPronto portfolio balance reached R$17.9 billion in 3Q25, up 13% year-over-year; profit sharing was R$12.7 million in 3Q25 (+58% YoY).

• CrediPronto mortgage volume was R$1 billion in 3Q25, down 16% year-over-year, but nine-month volume up 25% to R$3.16 billion.

• Intermediation transactions totaled R$3.5 billion in 3Q25, down 4% year-over-year, mainly due to a one-off land sale in 3Q24.

• Gross margin for 3Q25 was 80.9%; consolidated EBITDA margin at 44.4%.

• Cash from operations nearly doubled year-over-year to R$23.5 million in 3Q25.

Outlook and guidance

• Management highlights continued investment in digital transformation and franchise expansion.

• Remains attentive to market conditions to adjust strategies and capture sustainable opportunities.

• Real estate developers are delaying new launches due to economic uncertainties and high interest rates.

• Expect Tier 4 of MCMV program to gain traction in 2026.

• The real estate financing market is resuming origination pace, with CrediPronto mortgage volume up 25% in 9M25.