Méliuz (CASH3) Q4 2024 earnings summary

Executive summary

• Completed the 2022–24 turnaround, shifting to an asset-light model and prioritizing profitable growth, product contribution margins and cost discipline.

• FY24 consolidated adjusted EBITDA reached R$54.1M, up from negative R$1.1M in 2023; consolidated revenue grew 12% YoY.

Financial highlights

• FY24 consolidated revenue reached a record R$365.0M, up 12% from R$326.6M in FY23.

• FY24 adjusted consolidated EBITDA was R$54.1M versus negative R$1.1M in 2023; parent-company adjusted EBITDA was R$64.1M.

• 4Q24 revenue was R$104.7M, up 4% YoY; adjusted EBITDA was R$21.0M, up 29%, with a 20.1% margin, up 3.9pp.

• FY24 adjusted consolidated net income was R$56.9M versus R$39.9M in 2023; reported net loss narrowed to R$11.3M from R$20.8M.

• Adjusted costs and expenses fell 4% to R$322.0M in FY24 despite 12% revenue growth.

Outlook and guidance

• 2025 priorities include accelerating sustainable growth led by Shopping Brazil, acquiring and retaining users, improving shopping, expanding Nota Fiscal partners and features, and monetizing financial services.

• Plans include evolving accounts and cards, scaling Cofrinho and launching financial products while maintaining healthy margins and disciplined investment allocation.