PicS (PICS) Q1 2026 earnings summary

Executive summary

• Delivered results above guidance across all key metrics for Q1 2026, with strong execution and profitability growth.

• Achieved R$169 million adjusted net income in 1Q26, up 92% year-over-year, with robust top-line growth and disciplined cost management.

• Total accounts reached 68.6 million, up 11% year-over-year; active clients at 44.3 million.

• Continued expansion in credit portfolio, deposits, and insurance policies, with robust digital engagement and a strategic shift toward secured lending.

• Launched new products and partnerships, including a strategic alliance with TIM, acquisition of Kovr, and rebranding as a full-service digital bank.

Financial highlights

• Total credit portfolio reached R$28.0 billion, up 116% year-over-year and 5.8% above guidance, with 69% in secured products.

• Total revenue and financial income were R$3.5 billion, up 70% year-over-year and 17% quarter-over-quarter.

• Gross profit reached R$1.1 billion, a 44% year-over-year increase.

• Adjusted net income was R$169 million, up 92% year-over-year; IFRS net income at R$152 million, 8.4% above guidance.

• Net interest income was R$1.7 billion (+76% YoY), with a net interest margin of 20.7%.

Outlook and guidance

• Q2 2026 guidance: credit portfolio to reach R$31.0 billion (+11% QoQ), managerial revenues at R$3.6 billion (+13% QoQ), and adjusted net income at R$245 million (+45% QoQ).

• Cost of risk expected to remain stable at 3.7%-3.9%.

• ROE projected to return above 20% as IPO proceeds are deployed; management confident in meeting 2026 projections.