Business
StoneCo Reports Fourth Quarter and Fiscal Year 2022 Results
Key 4Q22 metrics exceeded guidance on strength of 2022 execution; Revenue of R$2.7 billion, + 44% y/y (vs R$2.6+ billion guidance); Adj. EBT of R$316 million,
About this update from Stoneco Ltd.
[{"type":"text","content":"Key 4Q22 metrics exceeded guidance on strength of 2022 execution; Revenue of R$2.7 billion, + 44% y/y (vs R$2.6+ billion guidance); Adj. EBT of R$316 million, +50% q/q (vs R$250+ million guidance); MSMB TPV of R$81.9 billion, +23% year over year (vs R$78.0 - R$79.0 billion guidance) GEORGE TOWN, Grand Cayman, March 14, 2023 (GLOBE NEWSWIRE) -- StoneCo Ltd. (Nasdaq: STNE) (“Stone” or the “Company”) today reports its financial results for its fourth quarter and fiscal year ended December 31, 2022. “Dear Shareholders, This quarter, I would like to highlight our evolution along 2022. As I transition to the board role and hand the executive leadership to Pedro, I also want to reflect back on what I think makes your company great and what I believe will be the foundation for its success over the next decades. I think 2022 was a very important year for Stone. We wanted to implement a series of changes after a difficult 2021, and I am proud that we were able to execute well on our plan. I am confident that we finished the year very well positioned for the future. Below I will detail the milestones that I believe are worth your attention: We executed on our strategic priorities while generating increasingly stronger cash flow. Our company is generating cash in a very consistent way and has a strong balance sheet and liquidity to fund its growth ahead.In 2022, we continued to drive business growth while laying out a new approach to how we price our relationship with clients, to reflect the changes in the macroeconomic environment. Starting already at the end of 2021, our team raised the bar in terms of how we allocated capital to growth, with discipline in assuring healthy hurdles of return. Also important was the evolution of our commercial strategy in the MSMB segment, where we learned how to better optimize our two brands, Ton and Stone, across our multiple channels, to provide the right value proposition to each client segment and achieve overall market share gains in MSMBs with healthy unit economics. This evolution was largely what resulted in the incremental margins we achieved on a quarterly basis throughout the year.While we allocated significant focus to price execution, we also drove expansion of our banking solution to SMBs and Micro clients, with a significant increase in overall client deposits and material contributions to ...