StoneCo Ltd. (STNE): Financial results for Q2 2026
StoneCo Ltd. (STNE) furnished an SEC Form 6-K — earnings release. 2Q26 Earnings Release StoneCo Reports Second Quarter 2026 Results George Town, Grand Cayman, August 13, 2026 – StoneCo Ltd. (Nasdaq: STNE) (“Stone” or the “Company”) today reports its financial results for the second quarter ended June 30, 2026. CONSOLIDATED ADJUSTED FINANCIAL ME
How this was made
The 30-second read
Why it matters
The earnings release provides the first public view of Q2 performance, highlighting growth in active clients and TPV while noting higher loan‑loss provisions.
Market read
Fresh earnings data for a mid‑cap fintech; investors will reassess valuation based on EPS beat versus margin pressure.
What to watch
The large share buyback reducing share count may boost per‑share metrics more than operational performance.
StoneCo Reports Second Quarter 2026 Results
Adjusted revenue, gross profit and EBT improved sequentially, while adjusted net income declined year over year and credit delinquency, provisions and IFRS earnings were adversely affected by credit-loss items.
Key metrics
as reported| Metric | Value | q/q | y/y |
|---|---|---|---|
| Total Revenue and Income from continuing operationsnon-GAAP | R$3,587.4 million | 0.3% | 2.5% |
| Adjusted Gross Profit from continuing operationsnon-GAAP | R$1,563.8 million | 5.1% | 0.1% |
| Adjusted Gross Profit margin from continuing operationsnon-GAAP | 43.6% | 2.0p.p. | (1.0)p.p. |
| Adjusted EBT from continuing operationsnon-GAAP | R$697.2 million | 8.8% | (1.0)% |
| Adjusted EBT margin from continuing operationsnon-GAAP | 19.4% | 1.5p.p. | (0.7)p.p. |
| Adjusted Net Income from continuing operationsnon-GAAP | R$582.7 million | 6.1% | (2.6)% |
| Adjusted net income margin from continuing operationsnon-GAAP | 16.2% | 0.9p.p. | (0.8)p.p. |
| Adjusted Basic EPS from continuing operationsnon-GAAP | R$2.40 per share | 9.8% | 8.6% |
| ROEnon-GAAP | 21.6% | 3.0p.p. | 0.9p.p. |
| IFRS Gross Profit from continuing operationsother | R$1,360.1 million | (8.4)% | (12.7)% |
| IFRS Profit before income taxes from continuing operationsother | R$489.6 million | (21.9)% | (29.2)% |
| IFRS Net income from continuing operationsother | R$449.9 million | (74.7)% | (23.4)% |
| IFRS Net Margin from continuing operationsother | 12.5% | (37.2)p.p. | (4.2)p.p. |
| IFRS Basic EPS for Continuing Operationsother | R$1.86 per share | (74.1)% | (14.4)% |
| Total Active Client Baseother | 4,820.1 ('000) | 2.5% | 6.4% |
| ARPACother | R$251.1 | 1.5% | (6.6)% |
| Total TPVother | R$142.2 billion | 3.6% | 4.3% |
| CTPV (Card TPV)other | R$111.5 billion | 1.5% | (3.1)% |
| PIX QR Codeother | R$30.7 billion | 12.2% | 44.3% |
| Retail Depositsother | R$10,796.6 million | 7.0% | 22.3% |
| Credit Portfolioother | R$3,752.0 million | 16.3% | 107.5% |
| Credit Revenueother | R$348.5 million | 14.1% | 153.0% |
| Average Monthly Credit Rateother | 3.3% | (0.0)p.p. | 0.5p.p. |
| Provisions for lossesother | R$187.6 million | 12.8% | 127.9% |
| Cost of riskother | 21.5% | (0.4)p.p. | 1.3p.p. |
| NPL 15-90 daysother | 6.00% | 1.03p.p. | 3.48p.p. |
| NPL > 90 daysother | 8.60% | 1.63p.p. | 3.94p.p. |
| Coverage ratioother | 203.6% | (25.3)p.p. | (76.3)p.p. |
| Adjusted Net Cashnon-GAAP | R$1,350.0 million | – | – |
| Risk Weighted Assetsother | R$19,829.9 million | 0.9% | 8.3% |
| Managerial Common Equity Tier 1other | R$5,213.0 million | (40.2)% | n.a. |
| Managerial Tier 1 Capital Ratioother | 26.3% | (18.0)p.p. | n.a. |
Segments
| Segment | Revenue | q/q | y/y |
|---|---|---|---|
| Net revenue from transaction activities and other servicesOngoing pricing optimizations between card MDRs and prepayment revenues across bundled offers, plus lower gains from credit card issuer activity sequentially. | R$427.2 million | (11.3)% | (35.1)% |
| Net revenue from subscription services and equipment rentalHigher subscription revenues from the remaining software operation and higher equipment rental revenues; sequentially affected by bundled-offer changes that reduced equipment-rental revenues. | R$244.3 million | (3.0)% | 11.6% |
| Financial incomeHigher credit and prepayment revenues, partly offset by lower floating revenue from deposits. | R$2,665.9 million | 3.2% | 10.7% |
| Other financial incomeYear-over-year growth reflected a larger average cash balance; sequential decline reflected lower monetary adjustments on recoverable taxes. | R$250.0 million | (4.8)% | 16.5% |
Capital returns
- On May 4, 2026, Stone paid an extraordinary cash dividend of US$2.53 per share to shareholders of record as of April 24, 2026, totaling approximately R$3.08 billion distributed.
- Repurchase of own shares was R$739.0 million in 2Q26.
- Stone reported R$3.0 billion in share buybacks over the past twelve months ended in June 30, 2026, reducing the total outstanding share count by 40.3 million STNE shares.
- Basic Number of shares was 239.5 million in 2Q26, compared with 247.8 million in 1Q26 and 269.2 million in 2Q25.
What drove it
- Total Revenue and Income growth was primarily driven by the increasing contribution from credit products.
- Total TPV growth accelerated to 4.3% year over year from 2.7% growth in 1Q26, reflecting early results from initiatives addressing higher churn observed from 4Q25, with benefits more concentrated in the Ton brand.
- PIX QR Code reached R$30.7 billion, growing 44.3% year over year and 12.2% sequentially.
- Credit portfolio growth was driven especially by the merchant portfolio and working capital solution.
- Gross profit improved sequentially as nominal cost of services and financial expenses declined.
- Cost of services excluding loan loss provisions declined due to lower risk management costs and personnel expenses following the workforce reduction carried out in 1Q26, partly offset by investments in AI.
- Financial expenses declined due to improved funding efficiency from client deposits and higher use of own cash, while the sequential decline also reflected a lower average CDI of 14.4% in 2Q26 versus 14.9% in 1Q26.
Concerns
- Adjusted net income from continuing operations declined 2.6% year over year as a slightly lower adjusted EBT combined with a higher effective tax rate of 16.4% versus 15.0% in 2Q25.
- Provision expenses for expected credit losses increased 127.9% year over year to R$187.6 million.
- NPL 15-90 days rose to 6.00% from 4.97% in 1Q26 and 2.51% in 2Q25, while NPL over 90 days rose to 8.60% from 6.98% and 4.67%, respectively.
- Coverage ratio declined to 203.6% from 229.0% in 1Q26 and 279.9% in 2Q25.
- IFRS results included R$200.3 million of allowance for expected losses on selected card issuers in distress, which Stone treated as an unusual non-recurring event and excluded from adjusted results.
- IFRS net income from continuing operations declined 23.4% year over year to R$449.9 million and 74.7% sequentially, with the sequential comparison affected by a R$1,242.6 million deferred tax asset gain in 1Q26.
- ARPAC declined 6.6% year over year to R$251.1 per month per client.
- Adjusted Net Cash declined by R$3,589.1 million sequentially, including the extraordinary dividend payment and share buybacks.
What to watch
- The evolution of delinquency in the dedicated desk and the roll-forward of weaker second-half 2025 and early 2026 vintages in the automated desk.
- Provision expenses, cost of risk and coverage ratio as the credit portfolio expands.
- Whether TPV-growth initiatives extend from Ton to the Stone brand.
- The continuing mix shift between transactional revenue and financial income under bundled-offer pricing optimizations.
- The effect of government-backed loans, of which R$334.2 million was included in the credit portfolio, on portfolio mix and credit-risk metrics.
- The capital ratio following normalization after the May extraordinary dividend payment.
Balance sheet and cash flow
- Net cash provided by operating activity was R$1,697.3 million in 2Q26, compared with R$3,343.3 million in 1Q26.
- Net cash provided by investing activities was R$3,098.5 million in 2Q26, compared with net cash used in investing activities of R$(172.1) million in 1Q26.
- Net cash used in financing activities was R$(3,555.1) million in 2Q26, compared with R$(2,126.6) million in 1Q26.
- Purchases of property and equipment were R$(162.8) million and purchases and development of intangible assets were R$(88.1) million in 2Q26.
- Change in cash and cash equivalents was R$1,263.9 million in 2Q26, compared with R$1,039.9 million in 1Q26.
- Cash and cash equivalents at end of period were R$7,356.2 million, compared with R$6,092.3 million in 1Q26.
- Short-term investments were R$840.5 million, compared with R$4,117.7 million in 1Q26.
- Retail deposits were R$10,796.6 million, institutional deposits and marketable debt securities were R$9,005.8 million, and other debt instruments were R$7,131.5 million in Adjusted Net Cash.
- Adjusted Cash was R$46,686.2 million and Adjusted Debt was R$(45,336.1) million in 2Q26.
- Total assets were R$57,873.5 million, total liabilities were R$48,835.8 million, and total equity was R$9,037.7 million in 2Q26.
Analysis
StoneCo reported R$3,587.4 million of adjusted total revenue and income from continuing operations in 2Q26, up 2.5% year over year and 0.3% sequentially. Growth reflected increasing credit-product contribution. Revenue mix continued to move away from transaction activities, where revenue declined 35.1% year over year to R$427.2 million, and toward financial income, which grew 10.7% to R$2,665.9 million. Stone attributed this mix movement in part to pricing optimization between card MDRs and prepayment revenues in bundled offers.
Underlying payment activity improved modestly. Total TPV grew 4.3% year over year to R$142.2 billion, accelerating from 2.7% growth in 1Q26, while PIX QR Code volume increased 44.3% year over year to R$30.7 billion. Total active clients reached 4,820.1 ('000), up 6.4% year over year and 2.5% sequentially, with the sequential increase linked to revised bundled offers mostly in Ton. ARPAC increased 1.5% sequentially but declined 6.6% year over year to R$251.1.
Profitability improved sequentially but remained below the prior-year margin profile. Adjusted gross profit was broadly stable year over year at R$1,563.8 million, while gross margin was 43.6%, down from 44.6% in 2Q25 but up from 41.6% in 1Q26. Lower financial expenses and lower costs to sustain operations helped gross profit, but the benefit was offset by sharply higher provisions for expected credit losses. Adjusted EBT increased 8.8% sequentially to R$697.2 million, but was 1.0% below 2Q25. Adjusted net income declined 2.6% year over year to R$582.7 million as the effective tax rate rose to 16.4% from 15.0%.
Credit expansion remained rapid, with the portfolio growing 107.5% year over year to R$3,752.0 million and credit revenue increasing 153.0% to R$348.5 million. Credit quality was the principal pressure point: provisions rose 127.9% year over year to R$187.6 million, NPL 15-90 days reached 6.00%, and NPL over 90 days reached 8.60%. Stone cited additional dedicated-desk delinquencies and continued pressure from weaker second-half 2025 and early 2026 vintages. The company also reported a R$200.3 million IFRS allowance for selected card issuers in distress, excluded from adjusted results as unusual and non-recurring.
Capital allocation materially reduced the cash position and equity base. Stone paid an extraordinary dividend of approximately R$3.08 billion following the Linx sale and repurchased R$739.0 million of shares during 2Q26. Adjusted Net Cash was R$1,350.0 million, versus R$4,939.1 million in 1Q26, and the Managerial Tier 1 Capital Ratio was 26.3%, versus 44.3% in 1Q26. No forward guidance was provided in the release.
Not in the filing
stated, not guessed- Forward revenue guidance
- Forward gross margin guidance
- Forward operating expense guidance
- Forward tax rate guidance
- Other forward guidance figures
- Prior-release outlook for comparison
- Adjusted diluted EPS
- IFRS diluted EPS
- Free cash flow
AlphaAI analysis generated from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure was cross-checked against the filing text; consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.
Background
StoneCo is a Brazil‑based fintech offering acquiring, banking and credit services to merchants.
Ticker impact
StoneCo Ltd. filed its Q2 2026 earnings release on Form 6‑K, providing fresh revenue, profit and EPS numbers.
Potential short‑term upside if investors focus on EPS beat, but margin compression may limit rally.
First‑report earnings data with new guidance; market can price the incremental EPS beat versus margin decline.
Market effects
Results may influence other Brazilian fintechs and payment processors as they gauge credit‑product growth.
Adds to the earnings flow from Brazil’s financial services sector, modestly affecting regional indices.
Limited global impact; primarily relevant to investors in emerging‑market fintechs.
Counterpoint
Margin compression could signal underlying credit‑loss risk, suggesting a pull‑back despite EPS beat.
Key entities
- companyStoneCo Ltd.
Brazilian fintech listed on Nasdaq (STNE).
