Espaçolaser (ESPA3) posts adjusted net income of R$ 1.6 million in 3Q26

Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) totaled R$ 46.9 million, up 2.1%, with a margin of 18.5%, an increase of 1.0 percentage point. The company attributes the result to a 17.6% reduction in adjusted operating expenses, which totaled R$ 36.0 million, and to stable costs. In the first nine months of 2026, adjusted EBITDA was R$ 172.4 million, down 9.6%, with a margin of 21.5%.

Adjusted net revenue was R$ 253.4 million in the quarter, down 3.4%. Adjusted gross profit totaled R$ 82.9 million, with a margin of 32.7%. Gross revenue was flat at R$ 338.7 million, and cancellations reached R$ 43.4 million, or 12.8% of gross revenue. Total network sales (System-Wide Sales) were R$ 412.6 million, down 1.9%. The company cites a subdued consumer environment and tighter credit restrictions.

Adjusted operating cash flow was R$ 106.9 million, up 29.9%, with 228.0% of adjusted EBITDA converted into cash. Year to date, it totaled R$ 240.0 million, up 25.1%. Net debt ended the quarter at R$ 490.1 million, a reduction of R$ 35.8 million versus 3Q25, and gross debt stood at R$ 708.5 million. Leverage (net debt to EBITDA) was 1.75x, the lowest level since 2021. Cash and financial investments totaled R$ 218.4 million.

As a subsequent event after quarter-end, the company refranchised three company-owned stores in Ribeirão Preto and Barretos, at a multiple of 7.5x the units' EBITDA. At the end of 3Q26, the network in Brazil had 811 stores, of which 248 were franchises and 563 were company-owned. The earnings conference call takes place on November 12, at 11 a.m. (Brasília time).