Wiz Co Participações e Corretagem de Seguros (WIZC3) Q1 2026 earnings summary

Executive summary

• 1Q26 net revenue excluding commissions was R$237.3 million, down 8.4% YoY; reported consolidated revenue was R$302.606 million, down 10.9%.

• Reported consolidated EBITDA was R$152.0 million, down 15.3%, and net income was R$72.663 million versus R$84.063 million in 1Q25.

• Insurance revenue grew 4.5%, while Credit and Consortiums and Run-Off Caixa contracted; Inter Seguros and Omni1 delivered strong results.

• Adjusted consolidated net income was R$102.8 million, down 5.1% YoY.

Financial highlights

• Gross revenue was R$432.5 million, down 15.4% YoY; net revenue excluding commissions was R$237.3 million, down 8.4%.

• Adjusted EBITDA was R$158.1 million, down 11.9%, including R$6.1 million of senior-management transition severance costs and other adjustments.

• Parent adjusted net income was R$59.3 million, up 0.5%; parent adjusted EBITDA was R$73.3 million, down 11.1%.

• The negative financial result was R$11.1 million, improving R$10.0 million YoY; the effective tax rate was 36.7%.

Outlook and guidance

• Management expects a volatile and challenging 2026, citing macro uncertainty, high interest rates, and pressure on insurance and lending; strategic planning and diversification are intended to support results.

• Senior-management and structure changes are expected to generate R$5.2 million in annualized savings over 12 months; management expects to capture 25% in Q2.

• Management cited private payroll lending and higher-margin loans as potential support for Promotiva, while noting reduced originations and pressure at BMG.

• Lower interest rates could reduce financial expenses and support origination through banking partners; timing of rate cuts remains uncertain.