StoneCo Ltd. to Announce First Quarter 2024 Financial Results on May 13, 2024 and Adopt New Internal Accounting Policy
The Company also announces that, beginning in the first quarter of 2024, it will adopt a new internal accounting policy for the recognition of membership fee revenues. Membership fee revenue is generated from a non-refundable set up fee paid upfront by a merchant client upon the signing of its service agreement contract for some of our offerings. Previously, the Company recognized the entire membership fee at the time it was paid. Under the new policy, the recognition of these revenues will be deferred through the expected lifetime of the merchant client. For fiscal year 2023, membership fee revenue accounted for
Impact of Policy Change
This change is expected to:
- Have no impact on our 2024 Guidance given the strong continued performance of the business.
- Have no impact on the Company's cash position or its ongoing cash flow generation.
- Reduce transaction revenues by approximately
R$60-70 million in 1Q24 andR$160-200 million in FY2024 and increase deferred revenue liabilities by the same amounts in 1Q24 and FY2024.
2024 Guidance Remains Unchanged
GUIDANCE | 2023 | ∆% y/y | 2024 | ∆% y/y |
MSMB TPV (R$bn) | 350 | +21% | > 412 | > +18% |
Clients Deposits (R$bn) | 6.1 | +52% | > 7.0 | > +14% |
Growth ↑ | ||||
Credit Portfolio (R$bn) | 0.3 | n.a. | > 0.8 | > +2.6x |
MSMB Take Rate (%) | 2.45% | +30bps | > 2.49% | > +4bps |
Monetization ↑ | ||||
Adjusted Net Income (R$bn) | 1.6 | +3.8x | > 1.9 | > +22% |
Adjusted Administrative Expenses (R$bn) | 1.052 | +6% | < 1.125 | < +7% |
Efficiency ↑ |
The conference call can be accessed live over the Zoom webinar (ID: 819 7276 5380 | Password: 819157). You can also access the meeting over the phone by dialing +1 646 931 3860 or +1 669 444 9171 from the
The Company will begin its Quiet Period related to first quarter 2024 financial results on
About Stone
Stone is a leading provider of financial technology and software solutions that empower merchants to conduct commerce seamlessly across multiple channels and help them grow their businesses.
Contact:
Investor Relations
investors@stone.co
Source: StoneCo Ltd.