HOWTHEY

MAKEMONEY

EARNINGSVISUALS

6/2025

APPECONOMYINSIGHTS?2025

BroadcomQ2FY25IncomeStatement

Q2FY25

EndingApr.2025

Operatingprofit

Netprofit

$5.0B

33%margin+16ppY/Y

$5.8B

Grossprofit

$10.2B

39%margin+15ppY/Y

$8.4B

+17%Y/Y

68%margin+6ppY/Y

Revenue

$15.0B

Other

Semiconductorsolutions

Networking,ServerStorage,

Broadband,Wireless,

Industrial

($0.7B)

+20%Y/Y

Tax

($0.1B)

R&D($2.7B)

18%ofrevenue

(1pp)Y/Y

$6.6B

SG&A($1.1B)

+25%Y/Y

OperatingExpenses

($4.4B)

7%ofrevenue

Infrastructuresoftware

Mainframe,Distributed,

Cybersecurity,SAN,Cloud

Infrastructure

(3pp)Y/Y

Amortization

($0.5B)

3%ofrevenue

Costof

revenue

($4.8B)

(3pp)Y/Y

Restructuring

($0.1B)

1%ofrevenue(2pp)Y/Y

APPECONOMYINSIGHTS

APPECONOMYINSIGHTS

BroadcomRevenueBreakdown

In$

billion

Q1FY19

Q2FY19

Q3FY19

Q4FY19

Q1FY20

Q2FY20

Q3FY20

Q4FY20

Q1FY21

Q2FY21

Q3FY21

Q4FY21

Q1FY22

Q2FY22

Q3FY22

Q4FY22

Q1FY23

Q2FY23

Q3FY23

Q4FY23

Q1FY24

Q2FY24

Q3FY24

Q4FY24

Q1FY25

Q2FY25

acquisitioncompleted

Infrastructuresoftware

Mainframe,Distributed,

Cybersecurity,SAN,Cloud

Infrastructure

Semiconductorsolutions

Networking,ServerStorage,

Broadband,Wireless,

Industrial

Q2FY25

EndingApr.2025

APPECONOMYINSIGHTS

MicronQ3FY25IncomeStatement

Compute&Networking

Storage

Mobile

Embedded

Operatingprofit

$2.2B

Grossprofit

$3.5B

38%margin+1ppQ/Q

23%margin

$5.1B

+11%Q/Q

+1ppQ/Q

Interest

$12M

Revenue

$9.3B

+15%Q/Q

$1.5B

+4%Q/Q

$1.6B

+45%Q/Q

$1.2B

+20%Q/Q

Costof

revenue

($5.8B)

Operatingexpenses

($1.3B)

Q3FY25

EndingMay2025

Netprofit

$1.9B

20%margin+1ppQ/Q

Tax

($0.2B)

Other

($0.1B)

R&D

($1.0B)

SG&A

($0.3B)

Other

($0.1B)

AdobeQ2FY25IncomeStatement

Operatingprofit

$4.3B

+11%Y/Y

$2.1B

Grossprofit

$5.2B

36%margin+0ppY/Y

Revenue

89%margin+0ppY/Y

$5.9B

+11%Y/Y

DigitalMedia

95%grossmargin

$1.5B

+10%Y/Y

DigitalExperience

72%grossmargin

Publishing$0.1B

&Advertising

Operatingexpenses

($3.1B)

DigitalMediaARR

$18.1B+12%Y/Y

RPO

$19.7B

+10%Y/Y

Costofrevenue

($0.6B)

ARR=AnnualRecurringRevenue

RPO=RemainingPerformanceObligation

Q2FY25

EndingMay2025

Netprofit

$1.7B

29%margin(1pp)Y/Y

Tax

($0.4B)

S&M

($1.6B)

29%ofrevenue+0ppY/Y

R&D

($1.1B)

18%ofrevenue(0pp)Y/Y

G&A

($0.4B)

6%ofrevenue(0pp)Y/Y

Amortization

($41M)

APPECONOMYINSIGHTS

OracleQ4FY25IncomeStatement

Cloudservices

Licensesupport

Q4FY25

EndingMay2025

RPO$138B+41%Y/Y

Operatingprofit

Cloudservices

&licensesupport

$5.1B

$6.7B

+27%Y/Y

Grossprofit

$11.2B

70%margin(2pp)Y/Y

32%margin(1pp)Y/Y

$11.7B

Revenue

+14%Y/Y

$15.9B

+11%Y/Y

$5.0B

+1%Y/Y

Cloudlicense

&on-premise

license

Hardware

Services

$2.0B

+9%Y/Y

$0.9B

+1%Y/Y

$1.3B

(2%)Y/Y

Costof

revenue

($4.7B)

Operatingexpenses

($6.1B)

Cloud($3.3B)

76%grossmargin

Hardware($0.3B)

70%grossmargin

Services($1.1B)

15%grossmargin

Netprofit

$3.4B

22%margin(0pp)Y/Y

Financial

($1.0B)

Tax

($0.7B)

R&D($2.7B)

S&M($2.3B)

Amortization

($0.5B)

G&A($0.5B)

Other($0.1B)

APPECONOMYINSIGHTS

APPECONOMYINSIGHTS

OracleRevenueBreakdown

Q1FY22

Q2FY22

Q3FY22

Q4FY22

Q1FY23

Q2FY23

Q3FY23

Q4FY23

Q1FY24

Q2FY24

Q3FY24

Q4FY24

Q1FY25

Q2FY25

Q3FY25

Q4FY25

in$billion

CloudServices

LicenseSupport

Cloudlicense&on-premlicenses

Hardware

Services

Q4FY25

EndingMay2025

APPECONOMYINSIGHTS

HPEQ2FY25IncomeStatement

$4.1B

+6%Y/Y

Server

6%operatingmargin

Grossprofit

$2.2B

28%margin(5pp)Y/Y

$1.5B

+13%Y/Y

Revenue

Operatingexpenses

($3.3B)

$7.6B

HybridCloud

+6%Y/Y

5%operatingmargin

$1.2B

+7%Y/Y

IntelligentEdge

24%operatingmargin

Operatingloss

($1.1B)

(15%)margin(20pp)Y/Y

$0.9B

Costofrevenue

($5.5B)

FinancialServices(1%)Y/Y10%operatingmargin

$0.1B

Corporate&Other

Q2FY25

EndingApr.2025

Goodwill($1.4B)

New

SG&A($1.3B)

17%ofrevenue+0ppY/Y

R&D($0.5B)

7%ofrevenue(1pp)Y/Y

Other($0.1B)

1%ofrevenue(1pp)Y/Y

APPECONOMYINSIGHTS

AsanaQ1FY26IncomeStatement

Grossprofit

$168M

$112M

+7%Y/Y

Operatingexpenses

($212M)

90%margin

+0ppY/Y

Revenue

$187M

UnitedStates

+9%Y/Y

$76M

+11%Y/Y

International

DBNR

95%

(5pp)Y/Y

Customers>$5K24,297(+10%Y/Y)Customers>$100K728(+20%Y/Y)

Costof

revenue

($19M)

Operating

loss

($44M)

(23%)margin

+15ppY/Y

DBNR=DollarBasedNetRetention

Q1FY26

EndingApr.2025

S&M

($100M)

53%ofrevenue(7pp)Y/Y

R&D

($75M)

40%ofrevenue(8pp)Y/Y

G&A

($37M)

20%ofrevenue+0ppY/Y

DocuSignQ1FY26IncomeStatement

Operatingprofit

Q1FY26

EndingApr.2025

$60M

Grossprofit

$606M

79%margin+0ppY/Y

8%margin

+5ppY/Y

$746M

+8%Y/Y

Interest

Revenue

$14M

$764M

+8%Y/Y

Subscription

Billings

$740

+4%Y/Y

$17M

Professional(4%)Y/YServices

NRR

101%

FlatQ/Q

Customers1.7M(+10%Y/Y)Enterprise268K(+8%Y/Y)

Operatingexpenses

($546M)

Costofrevenue

($157M)

NRR=NetRetentionRate

Netprofit

$72M

9%margin+5ppY/Y

Tax

($2M)

S&M

($296M)

39%ofrevenue(1pp)Y/Y

R&D

($159M)

21%ofrevenue+2ppY/Y

G&A

($90M)

12%ofrevenue(1pp)Y/Y

APPECONOMYINSIGHTS

CrowdStrikeQ1FY26IncomeStatement

Grossprofit

$814M

74%margin(2pp)Y/Y

$1,051M

+20%Y/Y

Revenue

$1,103M

+20%Y/Y

Operatingexpenses

($939M)

Subscription

$53M

Professional+8%Y/Yservices

Costofrevenue

($289M)

Operatingloss

Customerswith

6+modules48%+4ppY/Y7+modules32%+4ppY/Y

($124M)

(11%)margin(12pp)Y/Y

Q1FY26

ARR

$4.44B+22%Y/Y

EndingApr.2025

ARR=AnnualRecurringRevenue

S&M

($440M)

40%ofrevenue+2ppY/Y

R&D

($334M)

30%ofrevenue+5ppY/Y

G&A

($165M)

15%ofrevenue+4ppY/Y

APPECONOMYINSIGHTS

ModuleTrends

——6+modules7+modules8+modules

Q1FY22Q2FY22Q3FY22Q4FY22Q1FY23Q2FY23Q3FY23Q4FY23Q1FY24Q2FY24Q3FY24Q4FY24Q1FY25Q2FY25Q3FY25Q4FY25Q1FY26

APPECONOMYINSIGHTS

AnnualRecurringRevenue(in$billion)

CROWSTRIKEARR

Q1FY22

Q2FY22Q3FY22Q4FY22Q1FY23Q2FY23Q3FY23Q4FY24Q1FY24Q2FY24Q3FY24Q4FY24Q1FY25Q2FY25Q3FY25Q4FY25Q1FY26

AnnualRecurringRevenue(in$million)

CROWSTRIKENetNewARR

Q1FY22

Q2FY22Q3FY22Q4FY22Q1FY23Q2FY23Q3FY23Q4FY24Q1FY24Q2FY24Q3FY24Q4FY24Q1FY25Q2FY25Q3FY25Q4FY25Q1FY26

APPECONOMYINSIGHTS

RubrikQ1FY26IncomeStatement

Subscription

80%grossmargin

Maintenance

82%grossmargin

Other

22%grossmargin

SubscriptionARR

$1,181M+38%Y/Y

Grossprofit

$266M

+54%Y/Y

$218M

Operatingexpenses

($311M)

Revenue

78%margin+30ppY/Y

$278M+49%Y/Y

$2M

(59%)Y/Y

$10M

+11%Y/Y

CloudARR

$972M

+60%Y/Y

DBNR

>120%

Unchanged

Customers>$100K

2,381+28%Y/Y

Costof

revenue

($60M)

Operating

loss

($93M)

(33%)margin

+354ppY/Y

Q1FY26

EndingApr.2025

S&M

($170M)

61%ofrevenue(141pp)Y/Y

R&D

($82M)

29%ofrevenue(123pp)Y/Y

G&A

($59M)

21%ofrevenue(60pp)Y/Y

ARR=AnnualRecurringRevenueDBNR=DollarBasedNetRetention

APPECONOMYINSIGHTS

OracleRevenueBreakdown

in$millionOther

Maintenance

Subscription

Q1FY26

EndingApr.2025

Q1FY23Q2FY23Q3FY23Q4FY23Q1FY24Q2FY24Q3FY24Q4FY24Q1FY25Q2FY25Q3FY25Q4FY25Q1FY26

APPECONOMYINSIGHTS

GitLabQ1FY26IncomeStatement

Grossprofit

$189M

88%margin(1pp)Y/Y

Costofrevenue

($25M)

Operatingexpenses

($224M)

Operatingloss

($35M)

(16%)margin+16ppY/Y

$194M

+29%Y/Y

Subscription

Revenue

$215M

+27%Y/Y

$20M

+11%Y/Y

License

cRPO

$585M

+34%Y/Y

Q1FY26

EndingApr.2025

DBNR

122%

(1pp)Q/Q

Customers>$5K10,104(+13%Y/Y)Customers>$100K1,288(+26%Y/Y)

cRPO=CurrentRemainingPerformanceObligations

DBNR=DollarBasedNetRetention

S&M

($107M)

50%ofrevenue(4pp)Y/Y

R&D

($65M)

30%ofrevenue(2pp)Y/Y

G&A

($51M)

24%ofrevenue(10pp)Y/Y

MongoDBQ1FY26IncomeStatement

Q1FY26

EndingApr.2025

$396M

+26%Y/Y

Atlas

72%ofrevenue+2ppY/Y

$136M

+10%Y/Y

Other

subscription

Subscription

$531M

+22%Y/Y

$18M

+28%Y/Y

Services

Customers57,100+16%Y/Y>$100K2,506+17%Y/Y

Revenue

$549M

+22%Y/Y

Grossprofit

$391M

71%margin(2pp)Y/Y

Costofrevenue

($158M)

Operatingexpenses

($445M)

Operatingloss

($54M)

(10%)margin+12ppY/Y

Sales&

marketing

($221M)

40%ofrevenue(8pp)Y/Y

Research&

development

($169M)

31%ofrevenue(2pp)Y/Y

General&admin

($55M)

10%ofrevenue(3pp)Y/Y

SamsaraQ1FY26IncomeStatement

Grossprofit

$284M

77%margin

$360M

Operatingexpenses

($317M)

+2ppY/Y

Revenue

$367M

+31%Y/Y

Subscription

$7M

Other

Costof

revenue

($83M)

($33M)

(9%)margin+14ppY/Y

Operatingloss

ARR$1,535M

+31%Y/Y

Customers>$100K+

2,638+35%Y/Y

ARR=AnnualRecurringRevenue

Q1FY26

EndingApr.2025

Sales&

marketing

($165M)

45%ofrevenue(7pp)Y/Y

Research&

development

($83M)

23%ofrevenue(3pp)Y/Y

General&admin

($68M)

19%ofrevenue(2pp)Y/Y

APPECONOMYINSIGHTS

AccentureQ3FY25IncomeStatement

Q3FY25

EndingMay2025

CommunicationsMedia&Tech

FinancialServices

Health&

PublicServices

Products

Resources

Operatingprofit

$2.9B

+5%Y/Y

$3.0B

Grossprofit

$5.8B

Consulting

$9.0B

+7%Y/Y

17%margin+1ppY/Y

$3.3B

Revenue

$17.7B

+8%Y/Y

Revenue

33%margin(1pp)Y/Y

+13%Y/Y

$17.7B

+8%Y/Y

$3.8B

+7%Y/Y

Operatingexpenses

$5.3B

($2.8B)

+9%Y/Y

$2.4B

+5%Y/Y

Costofservices

($11.9B)

ManagedServices

$8.7B

+9%Y/Y

Netprofit

$2.2B

13%margin+1ppY/Y

Tax&other

($0.7B)

S&M

($1.8B)

10%ofrevenue(1pp)Y/Y

G&A

($1.1B)

6%ofrevenue(0pp)Y/Y

APPECONOMYINSIGHTS

AccentureGenerativeAIBookings

in$billion

Q2FY23

EndingJan.2023

Q3FY23

EndingMay2023

Q4FY23

EndingAug.2023

Q1FY24

EndingNov.2023

Q2FY24

EndingJan.2024

Q3FY24

EndingMay2024

Q4FY24

EndingAug.2024

Q1FY25

EndingNov.2024

Q2FY25

EndingFeb.2025

Q3FY25

EndingMay2025

NikeQ4FY25IncomeStatement

Q4FY25

EndingMay2025

Netprofit

$0.2B

2%margin(10pp)Y/Y

Operatingprofit

$0.3B

$7.2B

(13%)Y/Y

Grossprofit

$4.5B

40%margin(4pp)Y/Y

3%margin

(9pp)Y/YInterest

$22M

Tax

Revenue

($0.1B)

Footwear

$11.1B

Other

(12%)Y/Y

($25M)

$3.0B

(10%)Y/Y

Overhead

($2.9B)

26%ofrevenue+2ppY/Y

Apparel

Operating

expenses

($4.1B)

$0.6B

(2%)Y/Y

Equipment

China(21%)Y/Y

RoW(10%)Y/Y

RoW=RestofWorld

DemandCreation

($1.3B)

$0.3B

(26%)Y/Y

Costofsales

Converse

($6.6B)

11%ofrevenue+3ppY/Y

APPECONOMYINSIGHTS

LululemonQ1FY25IncomeStatement

Q1FY25

EndingApr.2025

$1.2B

+8%Y/Y

Operatingprofit

Netprofit

$0.3B

13%margin(1pp)Y/Y

$0.4B

Grossprofit

19%margin(1pp)Y/Y

Other

$12M

$1.4B

Operatedstores

Revenue

$2.4B

+7%Y/Y

58%margin+1ppY/Y

Tax

($0.1B)

$1.0B

+6%Y/Y

SG&A

($0.9B)

40%ofrevenue+2ppY/Y

Directtoconsumer

Operatingexpenses

($0.9B)

Women+7%Y/Y

Men+8%Y/Y

Other+8%Y/Y

$0.3B

+10%Y/Y

Amortization

($2M)

Otherrevenue

Outlets,temporarylocations,

Costofsales

770stores+8%Y/Y

Comparablesales+1%Y/Y

Americas-2%Y/Y

International+6%Y/Y

wholesaleaccounts,licenseand

supplyarrangement

($1.0B)

Other:Accessories,Footwear

APPECONOMYINSIGHTS

FedExQ4FY25IncomeStatement

Netprofit

$1.6B

7%margin+1ppY/Y

Operatingprofit

$19.0B

+1%Y/Y

$1.8B

Other

$0.4B

8%margin+1ppY/Y

Tax($0.6B)

Revenue

Salaries&benefits

($7.7B)

$22.2B

8%operatingmargin+1ppY/Y

+1%Y/Y

Purchased

transportation

($5.4B)

$2.3B

(4%)Y/Y

Rentals($1.1B)

21%operatingmargin(0pp)Y/Y

Depreciation&

Amortization($1.1B)

$0.9B

Fuel($0.9B)

+2%Y/Y

Other

Operatingexpenses

($20.4B)

Maintenance($0.8B)

Business

realignment($0.1B)

Q4FY25

EndingMay2025

Other($3.4B)

APPECONOMYINSIGHTS

APPECONOMYINSIGHTS

GameStopQ1FY25IncomeStatement

$345M

(32%)Y/Y

Hardware&Accessories

PackagedSoftware

Collectibles

$176M

(27%)Y/Y

$212M

+55%Y/Y

$538M

(13%)Y/Y

Revenue

$732M

(17%)Y/Y

Revenue

$732M

(17%)Y/Y

$38M

(10%)Y/Y

$82M

+3%Y/Y

$75M

(47%)Y/Y

Grossprofit

$253M

35%margin+7ppY/Y

Costofrevenue

($480M)

Q1FY25

EndingApr.2025

Operatingexpenses

($263M)

Including$36Mimpairment

Operatingloss

($11M)

(1%)margin+4ppY/Y

ChewyQ1FY25IncomeStatement

Activecustomers21M(+4%Y/Y)

Autoshipsales82%(+5ppY/Y)

$2.2B

+6%Y/Y

Revenue

$3.1B

Consumables

+8%Y/Y

$0.3B

+12%Y/Y

Hardgoods

$0.6B

+13%Y/Y

Other

Netsalepercustomer

$583(+4%Y/Y)

Grossprofit

$0.9B

30%margin(0pp)Y/Y

Costofrevenue

($2.2B)

Interest

Operatingprofit

$77M

2%margin+0ppY/Y

$1M

Operating

expenses

($0.8B)

Q1FY25

EndingApr.2025

Netprofit

$62M

2%margin(0pp)Y/Y

Tax

($16M)

G&A

($0.7B)

21%ofrevenue+0ppY/Y

Advertising&Marketing

($0.2B)

6%ofrevenue(0pp)Y/Y

GeneralMillsQ4FY25IncomeStatement

NorthAmericaRetail

19%segmentmargin

Pet

21%segmentmargin

NorthAmericaFoodservice

14%segmentmargin

International

5%segmentmargin

Operatingprofit

$0.5B

$2.6B

(10%)Y/Y

Grossprofit

$1.5B

32%margin(4pp)Y/Y

11%margin

Other

(5pp)Y/Y

$7M

Netsales

$4.6B

(3%)Y/Y

$0.7B

+12%Y/Y

SG&A

expenses

$0.6B

($0.9B)

(2%)Y/Y

Restructuring

($0.1B)

$0.8B

+11%Y/Y

Costofsales

($3.1B)Q4FY25

EndingMay2025

Netprofit

$0.3B

7%margin(5pp)Y/Y

Tax

($0.1B)

Interest

($0.1B)

APPECONOMYINSIGHTS

CarnivalQ2FY25IncomeStatement

Q2FY25

EndingMay2025

Commissions&transportation

($0.8B)

Netprofit

$0.6B

9%margin+7ppY/Y

Interest&other

($0.4B)

profit

$0.9B

15%margin

+5ppY/Y

Operating

$4.1B

+9%Y/Y

Revenue

$6.3B

+9%Y/Y

Onboard&other

Passengerticket

($0.7B)

Cruise&tour

($3.9B)

Payroll

&related

amiar

($0.6B)

$2.2B

+10%Y/Y

Fuel

($0.5B)

Onboard&other

Operatingexpenses

($5.4B)

Selling&admin

($0.8B)

Depreciation&amortization

($07B)

Food

($0.4B)

NetyieldsperALBD$200(+7%Y/Y)CruisecostsperALBD(0%)Y/Y

Customerdeposits

$8.1B(+3%Y/Y)

Other

operating

($1.0B)

ALBD=AvailableLowerBerthDay

.

APPECONOMYINSIGHTS

VailResortsQ3FY25IncomeStatement

$770M

+3%Y/Y

Operatingprofit

心vail.

Mountain

$1,213M

+1%Y/Y

$581M

Netprofit

$414M

32%margin+2ppY/Y

畫Lift

Revenue

45%margin+2ppY/Y

$1,296M

+1%Y/Y

$160M

(1%)Y/Y

Tax

($131M)

Skischool

Financial

$111M

($36M)

+1%Y/Y

Dining

Lodging

$83M

$114M

Mountain&Lodging

(8%)Y/Y

$57M

+2%Y/Y

($483M)

Retail/rental

(5%)Y/Y

G&A

Operatingexpenses

($714M)

RealEstate

$0M

(32%)Y/Y

($106M)

D&A

Other

Other

$9M

($75M)

Retail&Dining

($59M)

Q3FY25

EndingApr.2025

APPECONOMYINSIGHTS

APPECONOMYINSIGHTS

DardenQ4FY25IncomeStatement

$1.4B

+8%Y/Y

24%segmentmargin

$0.8B

+9%Y/Y

20%segmentmargin

$0.3B

+2%Y/Y

FineDining

19%segmentmargin

$0.7B

+22%Y/Y

OtherBusiness

17%segmentmargin

Operatingprofit

$0.4B

12%margin(2pp)Y/Y

Revenue

$3.3B

+11%Y/Y

Operating

expenses

Q4FY25

EndingMay2025

($2.9B)

Netprofit

$0.3B

9%margin(1pp)Y/Y

Interest($46M)

Tax($33M)

RestaurantLabor

($1.0B)

Food&Beverage

($1.0B)

Restaurant

expenses

($0.5B)

G&A($0.1B)

D&A($0.1B)

Other($0.1B)

APPECONOMYINSIGHTS

NIOQ1FY25IncomeStatement

Grossprofit

$0.1B

8%margin+3ppY/Y

Costofrevenue

($1.5B)

Operatingexpenses

($1.0B)

Operatingloss

($0.9B)

(53%)margin+1ppY/Y

$1.4B

+19%Y/Y

Revenue

$1.7B

+21%Y/Y

Vehiclesales

10%grossmargin

$0.3B

+37%Y/Y

Othersales

(4%)grossmargin

Deliveries

42,094

+40%Y/Y

SG&A

($0.6B)

37%ofrevenue+6ppY/Y

R&D

($0.4B)

26%ofrevenue(2pp)Y/Y

HealthEquityQ1FY26IncomeStatement

Service

27%grossmargin

Custodial

93%grossmargin

Interchange

86%grossmargin

$120M

+1%Y/Y

$156M

+29%Y/Y

$55M

+14%Y/Y

HSAAssets

$31.3B

+15%Y/Y

HealthEquity-

Revenue

$331M

+15%Y/Y

Grossprofit

$224M

68%margin+3ppY/Y

Costofrevenue

($107M)

Operatingprofit

$83M

25%margin+11ppY/Y

Operatingexpenses

($141M)

Q1FY26

EndingApr.2026

HSAs

9.9M

+9%Y/Y

TotalAccounts

17.1M+7%Y/Y

Netprofit

$54M

16%margin+6ppY/Y

Tax

(17M)

Interest&Other

($13M)

Technology&development

($61M)

Amortization

($27M)

General&admin

($26M)

Sales&marketing

($26M)

Mergercosts

($1M)

0%ofrevenue

(0pp)Y/Y

APPECONOMYINSIGHTS

inBrazilianReal

R$3.3B

Pretaxincome

R$0.7B

19%margin+3ppY/Y

+20%Y/Y

Revenue

FinancialServices

53%adj.EBTmargin(0pp)Y/Y

R$3.7B

+19%Y/Y

Software

18%adj.EBTmargin+0ppY/Y

R$0.4B

+11%Y/Y

Costsand

expenses

(R$3.0B)

MSMBActiveClients

3.2M+36%Y/Y

MSMBCardTPV

R$103B+10%Y/Y

MSMB=MicroandSMBClient

Netincome

R$0.6B

15%margin+3ppY/Y

Tax

(R