Smartfit (SMFT3) Q2 2026 earnings summary

Executive summary

• Achieved 22% year-over-year net revenue growth in Q2 2026, reaching R$2.18 billion, with strong expansion in the club network and robust performance across all business segments, including digital and wellbeing platforms.

• Added 352 clubs in the last 12 months, totaling 2,170 clubs across 16 countries, reinforcing leadership in Latin America.

• Member base reached 5.6 million, up 8% year-over-year, with TotalPass B2B platform members up 70% to 2.2 million.

• Marked five years since IPO, nearly tripling net revenue since 2019, diversifying revenue streams, and distributing R$1.3 billion to shareholders since 2023.

• Maintained consolidated leadership in the high-value, low-price fitness segment across Latin America.

Financial highlights

• Net revenue reached R$2,177 million in Q2 2026, up 22% year-over-year and 4% sequentially.

• EBITDA hit R$712 million (+24% year-over-year), margin 32.7% (+0.5 p.p. YoY).

• Recurring net income was R$204 million (+8% YoY), margin 9.4%.

• Cash gross profit reached R$1,131 million (+24% YoY), with a record margin of 51.9% (+1.1 p.p. YoY).

• Operating cash generation in the last 12 months totaled R$2.4 billion, with a 92% EBITDA-to-cash conversion rate.

Outlook and guidance

• On track to open 330–350 clubs in 2026, with 80% expected to be owned, and expansion concentrated in the second half of the year.

• Continued focus on network expansion, operational integration, and ecosystem evolution, with flexibility to adjust expansion pace based on market conditions.