On Wednesday, August 12, 2026, Desktop (DESK3) released its results for the second quarter of 2026 (2Q26), reporting net revenue of R$ 321.6 million, up 8% compared to 2Q25, and Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization, adjusted for non-recurring items) of R$ 172.4 million, an increase of 12% in the same comparison. The adjusted EBITDA margin reached 54%, 2 percentage points above 2Q25.
Adjusted net income totaled R$ 29.2 million in 2Q26, a decline of 17% compared to 2Q25, with an adjusted net margin of 9%, impacted by higher financial expenses and higher depreciation and amortization. Reported net income was R$ 13.4 million, down 23% year over year, while gross profit reached R$ 245.0 million, with a gross margin of 76%.
In terms of cash generation, Adjusted Operating Cash Flow (OCF) was R$ 174 million in 2Q26, an increase of 16% versus the same period of the previous year, and Adjusted CAPEX totaled R$ 77 million, a decline of 35% and equivalent to 24% of net revenue, compared to 40% a year earlier. As a result, Adjusted OCF + CAPEX reached R$ 97 million in the quarter, versus R$ 31 million in 2Q25, an increase of R$ 67 million.
The company ended 2Q26 with cash of R$ 491.9 million and net debt of R$ 1,520.6 million, which represents 2.21 times Annualized Pro Forma EBITDA. Including lease liabilities, broad net debt was R$ 1,612.5 million, equivalent to 2.34 times Annualized Pro Forma EBITDA.
Operationally, Desktop closed June 2026 with 1,200 thousand homes connected, growth of 2% compared to the end of 2Q25, and 4.9 million homes passed, also 2% above the same period of the previous year. The company maintained a presence in 200 cities in the interior of the State of São Paulo and operated about 58 thousand km of fiber optic network, of which 10 thousand km were backbone and 47 thousand km were FTTH access network.
