União Pet Participações (AUAU3), which controls Grupo Petz Cobasi, reported adjusted net income of R$ 70.3 million in the second quarter of 2026 (2Q26), up 8.4% compared to 2Q25, with an adjusted net margin of 4.0%. In the period, total gross revenue reached R$ 2.1 billion, a year-on-year increase of 7.8%, and adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) totaled R$ 186.7 million, an increase of 11.0%.
Gross revenue was composed of R$ 1.1 billion from the Petz banner and R$ 965.6 million from Cobasi, with year-on-year growth of 7.2% and 8.6%, respectively. By channel, sales in physical stores reached R$ 1.2 billion (+7.4% y/y) and digital sales R$ 855.6 million (+9.2% y/y), coming to represent 40.6% of gross revenue. B2C sales totaled R$ 2.03 billion (+7.7% y/y), while the services and other segment came to R$ 47.6 million (+29.0% y/y).
Gross profit was R$ 836.4 million in 2Q26, up 8.1% from the previous year, with a gross margin of 47.3%, 0.1 percentage point higher than in 2Q25. Operating expenses totaled R$ 649.7 million (+7.3% y/y), equivalent to 36.8% of net revenue, with selling expenses of R$ 504.2 million (28.5% of net revenue) and general and administrative expenses of R$ 143.9 million (8.1% of net revenue). Financial result was a positive R$ 1.2 million.
In the quarter, operating cash flow reached R$ 213.4 million, supported by improvements in working capital, and investments (capex) totaled R$ 34.0 million, focused on technology, digital, logistics and store maintenance. The company ended 2Q26 with cash and financial investments of R$ 637.8 million, gross debt of R$ 351.7 million and a net cash position of R$ 286.1 million, equivalent to 0.4 times adjusted EBITDA for the last 12 months.
