Linx Grows 18.5% in Subscription Revenue in 3Q20 Compared To 3Q19
SÃO PAULO--(BUSINESS WIRE)--Nov 9, 2020--
Linx closed 3Q20 with gross revenue of BRL 252.9 million (result of the combination of recurring and consulting services revenues). In 3Q20, total recurring revenue reached BRL 219.8 million, 15.3% higher than the same period in 2019 and equivalent to 87% of gross revenue. Linx’s net revenue was BRL 221.0 million, which represented an increase of 12.2% when compared to 3Q19. Adjusted EBITDA reached BRL 57.4 million in the quarter and the adjusted EBITDA margin in the period was 26.0%. Adjusted net income was BRL 3.0 million.
“In this quarter, despite the various impacts of the pandemic, we followed the continuous resumption of the retail sector, reinforced by the gradual return of the opening hours of malls and stores. Within this context, Linx has been capturing the various market opportunities. The various partnerships with marketplaces and the increased accessibility of our e-commerce platform enabled the growth of Linx Digital, which now represents 15.8% of total recurring revenue in 3Q20. Linx Pay also expanded, accounting for 14.2% of total recurring revenue and is already prepared for the entry of Pix.”, Explains Alberto Menache, CEO of Linx. Linx Digital and Linx Pay Hub offers have been mainly responsible for the constant increase in the company’s results.
As a reminder, we have an EGM scheduled on November 17 to deliberate on the STNE proposal to incorporate all of our shares, or alternatively decide to authorize the continuation of interactions with Totvs.
We reaffirm our commitment to the long term, ensuring the safety of our team, service to customers and suppliers, and consequently, to the business
Linx is a Brazilian company specialized in retail technology. Leader in the management software market, with 45.6% of retail market share, as IDC attests. Publicly traded at B3 since 2013, Linx also became the first Brazilian publicly traded software company at NYSE in 2019. The company has more than 3,500 employees distributed among its headquarters in São Paulo, 15 branches throughout Brazil and 5 countries in America. Visit www.linx.com.br/imprensa
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PUB: 11/09/2020 10:16 PM/DISC: 11/09/2020 10:16 PM