STNE earnings call for the period ending December 31, 2024.
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StoneCo (STNE -3.14%)
Q4 2024 Earnings Call
Mar 18, 2025, 5:00 p.m. ET
Contents:
- Prepared Remarks
- Questions and Answers
- Call Participants
Prepared Remarks:
Operator
Good evening, everyone. Thank you for standing by. Welcome to StoneCo’s fourth quarter 2024 earnings conference call. By now, everyone should have access to our earnings release.
The company also posted a presentation to go along with its call. All material can be found online at investors.stone.co. Throughout this conference call, the company will be presenting non-IFRS financial information, including adjusted net income, adjusted net cash and adjusted basic EPS. These are important financial measures for the company but are not financial measures as defined by IFRS.
Reconciliations of the company’s non-IFRS financial information to the IFRS financial information appears in today’s press release. Finally, before we begin our formal remarks, I would like to remind everyone that today’s discussion may include forward-looking statements. These forward-looking statements are not guarantees of future performance, and therefore, you should not put undue reliance on them. These statements are subject to numerous risks and uncertainties that could cause actual results to differ materially from the company’s expectations.
Please refer to the forward-looking statements disclosure in the company’s earnings press release. In addition, many of the risks regarding the business are disclosed in the company’s Form 20-F filed with the Securities and Exchange Commission, which is available at www.sec.gov. In hindsight, I would like to highlight that the full conference call will last until 7:15 p.m. BRT time, by which time the company will take no further questions.
Analysts that are still in line after that time will have their questions addressed by the IR team. Joining the call today is Stone’s CEO, Pedro Zinner; the CFO and IRO, Mateus Scherer; the strategy and marketing officer, Lia Matos; and the head of IR, Roberta Noronha. I would now like to turn the conference over to your host, Pedro Zinner. Please proceed.
Pedro Zinner — Chief Executive Officer
Thank you, operator, and good evening. As detailed in our annual shareholder letter, 2024 was a pivotal year of execution, marked by significant progress despite market challenges. We strengthened our position for sustainable growth, successfully executing our strategy, delivering exceptional client service and generating value for shareholders. Our key accomplishments reflect substantial progress across our three strategic priorities: MSMB market leadership, enhanced client engagement and scalable platform growth.
This is clearly demonstrated by the achievements against our 2024 targets, our MSMB Card TPV, deposits, MSMB take rate, credit portfolio, adjusted administrative expenses and adjusted net income. With the exception of MSMB Card TPV, we exceeded expectations across all other key performance indicators, demonstrating successful strategy execution. In 2024, MSMB Card TPV reached BRL 403 billion, representing 15% year-over-year growth. While this fell slightly short of our BRL 412 billion guidance due to the faster-than-expected adoption of PIX, total MSMB TPV exceeded expectations, reaching BRL 454 billion, a 22% year-over-year increase.
Looking ahead to 2025, we are confident in our ability to continue outpacing market growth and expanding our share of the MSMB payments market. Retail deposits closed 2024 at BRL 8.7 billion, exceeding our BRL 7 billion guidance. This success reflects the strong performance of our bundled payments and banking offerings and increasing client engagement with our banking solutions. While this is a significant milestone, we view it as the initial phase of our strategy to establish Stone accounts as the primary financial hub for our clients.
