On Tuesday, August 11, 2026, MPM Corpóreos S.A., owner of the Espaçolaser brand (ESPA3), released its results for the second quarter of 2026 (2Q26). The company reported an adjusted net loss of R$ 134 thousand, with an adjusted net margin of (0.1%), on adjusted net revenue of R$ 257.5 million for the period.
Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) reached R$ 49.4 million in 2Q26, with an adjusted EBITDA margin of 19.2%. In the same quarter of 2025, adjusted EBITDA had been R$ 64.6 million, representing a 23.5% decline. In the first half of 2026, adjusted EBITDA totaled R$ 125.5 million, with a 22.9% margin, compared to R$ 144.8 million in 1H25.
Adjusted net revenue of R$ 257.5 million in 2Q26 represents a 3.5% decline compared to 2Q25. Gross revenue came to R$ 349.8 million in the quarter, virtually flat versus the R$ 349.3 million reported a year earlier. In 1H26, adjusted net revenue reached R$ 547.7 million, down 1.6% versus 1H25, while gross revenue totaled R$ 725.1 million, an increase of 0.4%.
Adjusted gross profit came to R$ 88.2 million in 2Q26, with an adjusted gross margin of 34.3%, versus R$ 100.7 million and a 37.7% margin in 2Q25. In the half-year, adjusted gross profit was R$ 205.6 million, with a 37.5% margin. Adjusted operating cash flow was R$ 60.7 million in the quarter, with 122.8% conversion of adjusted EBITDA, and R$ 128.5 million in 1H26, up 17.2% versus the same period in 2025.
Net debt ended 2Q26 at R$ 526.0 million, a reduction of R$ 21.1 million compared to 2Q25, with a leverage ratio of 1.88x net debt to EBITDA for the last 12 months, versus 1.97x a year earlier. During the period, rating agency Moody's Local reaffirmed Espaçolaser's A.br rating, with a stable outlook.
