A Bemobi (BMOB3), leader in the specialized payment solutions sector, already serving 10 out of the 15 largest recurring services companies in the country, announced its financial results for the fourth quarter of 2024 to the Brazilian Securities Commission (CVM) on Thursday, 20. The period showed the highest growth in the last 9 quarters, both in Net Revenue and Adjusted EBITDA (earnings before taxes, depreciation, and amortization), with growth across all 4 business verticals. The period also marks traction in payment initiatives, with increased penetration among existing clients and the addition of new clients, including Copel, the sixth energy distributor to become a Bemobi client. As one of the few Brazilian multinational technology companies, the company now has more than 1,475 clients, including 149 large companies (with sales over 500 million reais) and 1,326 medium-sized companies (with sales below 500 million reais), spread across 58 countries.
“This quarter we reported the greatest expansion in recent years, with accelerated growth compared to previous quarters. The year 2024 was a resumption of our sustainable growth, supported by the continuous traction gain in the Payments vertical, as well as the recovery in Digital Subscriptions,” says Pedro Ripper, co-founder and CEO of Bemobi. “The growth and evolution of Pix and Open Finance in Brazil, combined with the expansion of e-wallets and innovations like Click to Pay, create opportunities for recurring services companies to modernize their payment platforms. The digitalization of these journeys allows the transition from traditional boleto to an omnichannel and multimethod approach, offering more flexibility and better payment conditions. This movement has brought significant gains in conversion rates, reduced delinquency, and cost optimization for our clients.”
Bemobi’s end-to-end payment solution is already used in a “white label” model by more than 505 companies, including all major telecom operators in Brazil such as Vivo, TIM, and Claro, some of the largest companies in the utilities sector like Energisa, Equatorial, Enel, NeoEnergia, Light, and Copel, companies in the education sector like Grupo Salta, as well as various internet providers.
In the fourth quarter of 2024, the company achieved a record payment volume (TPV) of over 2.3 billion reais. As a result, Payment revenue expanded by 16.3% compared to the same period the previous year.
On the other hand, Digital Subscription solutions saw a 34.4% increase in quarterly revenue. The number of users with active subscriptions to their application, gaming, and communication services reached 26.2 million, a 10% increase compared to the same period the previous year.
Between October and December last year, Bemobi’s adjusted net revenue grew by 19.8% compared to the same period in 2023, reaching 165.3 million reais. In 2024, net revenue reached 607.5 million reais, a 12.2% growth compared to the previous year. Adjusted EBITDA grew by 19.1% and reached 55 million reais, the highest in the company’s history. Adjusted EBITDA increased by 13.6% and reached 200.4 million reais. The adjusted net profit ex-Swap in 4Q24 was 46.5 million reais. Over the 12-month period, adjusted net profit ex-Swap totaled 135.9 million reais, a 20.1% expansion from 2023. On the other hand, the accounting net profit closed the year at 120.2 million reais, a 38.3% increase from the previous year.
Operating cash generation was a solid 41.4 million reais in the fourth quarter, with cash conversion exceeding 75%. Accordingly, the company ended the quarter with a total cash of 589 million reais.
Bemobi also approved a new dividend distribution policy, valid until the end of 2025, which aims to distribute an estimated 200 million reais. The first phase of distribution will be 58 million reais related to the 2024 exercise, to be ratified at the Assembly to be held on April 24. “Our financial and operational performance in 2024, combined with the outlook for 2025, give us confidence that our cash generation allows us to reconcile a more aggressive dividend payment for these two periods, without compromising our ability to continue growing sustainably, both organically and through new M&As that will continue to play a significant role in our strategy,” says Ripper.
