Positivo (POSI3) Posts R$ 7.7 Million Profit in 3Q26 and Raises Revenue Guidance

EBITDA (earnings before interest, taxes, depreciation and amortization) reached R$ 88.5 million, up 30.0% from 3Q25, with a margin of 8.9%. Net revenue was R$ 997.2 million (+23.8%) and gross profit was R$ 228.3 million (+6.0%), with a gross margin of 22.9%, compared with 26.7% in 3Q25. The company attributes the margin decline to revenue concentration in one large, lower-margin contract and to higher memory and SSD costs, which have not yet been fully passed through to the public sector. In 9M26, net loss was R$ 2.1 million, compared with a net loss of R$ 9.3 million in 9M25.

Net financial result was negative R$ 63.9 million, compared with R$ 46.7 million in 3Q25, pressured by a 43.9% drop in financial income due to a lower average cash balance. Net debt reached R$ 813.9 million, and leverage (net debt to trailing 12-month EBITDA) was 2.3x, compared with 1.9x in 3Q25. The company attributes the increase to advance purchases of memory and SSDs, which raised inventories to R$ 1,609 million. The long-term portion of loans rose to 81%, from 52%.

By segment, IT Infrastructure, Services and Solutions totaled R$ 675 million (+53%), with servers at R$ 123 million (+260%) and corporate PCs at R$ 157 million (+67%). Payment Solutions had revenue of R$ 196 million (+26%), and Smart Devices – Consumer, R$ 274 million (-6%). The 2026 guidance implies revenue of R$ 1.2 billion to R$ 1.3 billion in 4Q26.

The company also approved the cancellation of 2,000,000 treasury shares and a new buyback program of up to 5,624,862 shares, equivalent to 4.02% of the total issued. The program runs from 2026 to 2028.