Brisanet (BRST3) posted net income of R$ 43.4 mn in the third quarter of 2026 (3Q26), compared with R$ 38.4 mn in 3Q25 and R$ 26.1 mn in 2Q26. Net revenue grew 14% over 3Q25 to R$ 492.6 mn, up 4% from 2Q26. The company attributes the result mainly to the expansion of its fixed broadband and mobile (4G/5G) customer base.
EBITDA (earnings before interest, taxes, depreciation and amortization) was R$ 214.0 mn, with a 43% margin, versus R$ 225.8 mn and a 52% margin in 3Q25. Adjusted EBITDA totaled R$ 207.3 mn, up 7.5% from 3Q25, with a margin of 42.1%. The R$ 6.8 mn adjustment relates to extraordinary revenues and untimely tax credits. The adjusted margin fell 2.4 percentage points from 3Q25, which the company links to the increase in headcount, especially in the commercial area, and to the costs of rolling out the mobile operation in the Center-West region, which does not yet have equivalent revenues.
In the first nine months of 2026 (9M26), net revenue was R$ 1,422.3 mn, up 15% from 9M25, net income totaled R$ 88.6 mn (R$ 65.0 mn in 9M25) and adjusted EBITDA reached R$ 599.1 mn, up 10%. Operating cash generation was R$ 771.0 mn, equivalent to 127% of EBITDA for the period.
Broadband revenue was R$ 428 mn in 3Q26, up 8%, and mobile revenue totaled R$ 69.6 mn, up 44%, accounting for 14.2% of total revenue. The mobile base reached 1,179,131 customers at the end of 3Q26, with 109,173 additions in the quarter, across 357 cities. The fixed broadband base (HC) totaled 1,589,411 customers. B2C ARPU (average revenue per user) was R$ 93.13, up 6.8% from 3Q25. Net debt stood at R$ 1,687.6 mn, with leverage of 2.20x net debt/EBITDA for the last 12 months, versus 2.17x in June 2026. Gross debt was R$ 2.5 bn, and cash was R$ 819.9 mn.
In 9M26, investments (capex) were R$ 520.6 mn, about three-quarters of the full-year estimate of R$ 700 mn. At the end of October, the company announced new funding of more than R$ 500 mn from Banco do Nordeste (BNB). The earnings call takes place on November 11, 2026, at 9 a.m.
