PicS N.V. outperformed its previous guidance across all profitability metrics in its recently reported second quarter. The company's total account base rose to 70.4 million, a 10% jump from the prior year, while its client base reached 45.4 million active users, up 9% annually and 2% sequentially. Adjusted earnings before tax, excluding stock-based compensation costs, came in at R$291 million, a 2.1% outperformance versus the company's R$285 million guidance, and adjusted net income stood 15.5% higher than the R$245 million projection at R$283 million. The total credit portfolio jumped to R$31.9 billion, exceeding management's guidance by 3%, driven by a higher number of mature credit card cohorts, accelerated origination within secured and partly secured categories, and measured expansion into higher risk areas such as newer platform credit and private payroll lending. Managerial revenue rose to R$3,730 million, topping guidance by 3.6%, net interest income reached R$2,002 million, 5.4% above projections, and total deposits climbed to R$35.8 billion, a 45% yearly jump and 10% quarterly rise. Non-performing loans more than 90 days overdue increased to 9.8% of the credit portfolio, up 93 basis points sequentially, while Stage 3 exposure reached 12.9% of the total credit portfolio and funding costs concluded the quarter at 96% over CDI.
Picpay Holdings Netherlands N.V. Class A Common SharesPicS beat its own Q2 guidance across all profitability metrics, with adjusted net income 15.5% above projection and revenue/NII topping guidance.
