Business
StoneCo Reports Fourth Quarter and Fiscal Year 2019 Financial Results
GEORGE TOWN, Grand Cayman, March 02, 2020 (GLOBE NEWSWIRE) -- StoneCo Ltd. (Nasdaq: STNE) (“Stone” or the “Company”), a leading provider of financial
About this update from Stoneco Ltd.
[{"type":"text","content":"GEORGE TOWN, Grand Cayman, March 02, 2020 (GLOBE NEWSWIRE) -- StoneCo Ltd. (Nasdaq: STNE) (“Stone” or the “Company”), a leading provider of financial technology solutions that empower merchants to conduct commerce seamlessly across multiple channels, today reports its financial results for its fourth quarter and fiscal year ended December 31, 2019.\n To our shareholders: We continue to grow fast while maintaining strong profitability and have delivered another quarter of strong results driven by our talented and passionate team of people across Stone and our continued obsession with serving our clients better every day. In the fourth quarter of 2019, we continued to see strong fundamental growth in our business. Our TPV growth accelerated to 51.4% year-over-year (vs 49.8% last quarter) and our net client additions (excluding Stone Mais) accelerated to 67,300 (compared to 64,100 in the third quarter of 2019). We remained aggressive in the market selling new services, but we maintained our take rate at a relatively stable level of 1.80%. As a result, our total revenue and income during the quarter grew 47.9% year-over-year and we were able to achieve an adjusted net margin of 35.1%, which was our highest margin ever. This enabled us to produce R$264 million of net income and R$275 million of adjusted net income, up 107.7% and 76.4% year-over-year, respectively. I believe our fourth quarter results were a strong finish to our full year as a public company. In the full year 2019, we reached R$129 billion of TPV and our client base grew 84% year-over-year, with greater than 60% growth in 26 out of 27 Brazilian states. We focused on selling new software solutions in 2019 because we believe the combination of software solutions with our integrated financial platform will help our clients manage and grow their businesses better. This year we were able to increase the number of clients using software from 30,000 in the first quarter to over 135,000 by the end of the year. As a result of these combined efforts, I am pleased we were able to produce R$2,576 million in total revenue and income and R$857.1 million in Adjusted Net Income in 2019. We believe we had a great year, but we are focused on making 2020 and beyond even more special for our clients and as a consequence for our long term shareholders. Looking ahead to 2020, we will conti...