Stone's growth accelerates; company delivered its best first quarter ever, with adjusted net income of BRL237 million

SÃO PAULO, May 17, 2023 /PRNewswire/ -- StoneCo Ltd. (Nasdaq:STNE) reported its best first quarter ever, with adjusted profit of BRL 237 million, up 456% over 1Q22. Revenue reached BRL 2.7 billion in 1Q23, up 31% year-on-year, exceeding the guidance by 4%. Cash generation was also a record, with BRL 4 billion in adjusted net cash, a BRL 499.2 million increase vs. previous quarter. Of the factors that contributed to the company's growth with profitability, we highlight the increase in the acquiring client's customer base, reaching 2.8 million, the increase of customer's engagement with the company's banking account, which reached 1.3 million active customers, strong MSME customers monetization, with a Take Rate of 2.39%, and increased operational efficiency, with costs and expenses growing less than revenues.