Technos (TECN3) Q1 2026 earnings summary

Executive summary

• Net revenue reached R$91.2 million in 1Q26, up 5.3% year-over-year, driven by higher sales volume across brands and channels, despite a 1.4% decrease in average price per unit.

• Gross profit increased 5.7% to R$48.9 million, with gross margin improving by 0.2 percentage points to 53.6%, reflecting lower USD costs and freight efficiencies.

• Adjusted EBITDA rose 16.4% to R$14.0 million, marking the 23rd consecutive quarter of growth, with margin expanding to 15.4%.

• Net income surged 44.6% to R$6.5 million, aided by operational gains and a R$1.6 million positive tax effect from a change in IR/CSLL calculation.

• Maintained strong operational efficiency and a positive work environment, earning Great Place to Work certification for the fifth consecutive year.

Financial highlights

• Gross revenue grew 5.5% to R$107.3 million compared to 1Q25.

• Sales volume rose 6.9% to 521,300 units, while average price per unit declined 1.4% to R$206.

• Gross margin improved to 53.6% (+0.2 p.p. YoY); adjusted EBITDA margin increased to 15.4% (+1.5 p.p. YoY); net margin rose to 7.1% (+1.9 p.p. YoY).

• Working capital requirements increased to R$324.8 million, up 16.8% year-over-year, with inventory up R$19.8 million.

• Net financial result improved to R$1.1 million from R$0.2 million, aided by higher Selic rates and increased accounts receivable.

Outlook and guidance

• Management remains focused on sustainable growth, operational efficiency, and disciplined capital allocation amid macroeconomic and geopolitical uncertainties.

• Anticipates continued impact from major events like the World Cup and presidential elections on seasonality and consumer trends.