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Arco Platform Limited (Nasdaq: ARCE) has announced that it will report its third quarter 2021 financial results on November 29, 2021, after market close. A conference call will take place at 5 p.m. Eastern Time on the same day, where investors can participate by dialing +1 (412) 717-9627, +1 (844) 204-8942, or +55 (11) 4090-1621. An audio replay of the call will be available until December 5, 2021. Arco continues to empower students through data-driven education solutions.
Arco Platform Limited (NASDAQ: ARCE) has successfully completed its acquisition of COC and Dom Bosco learning systems, receiving final antitrust approval from Brazil's CADE on September 30, 2021. The total acquisition cost reached R$800.4 million, adjusted for cash and working capital. This strategic move enhances Arco's position in the private K-12 education sector, expanding its pricing strategies and geographic reach, while facilitating opportunities for cross-selling and upselling.
Arco Platform Limited (Nasdaq: ARCE) has announced the appointment of Beatriz Amary and Carla Schmitzberger to its Audit Committee, effective immediately. Both members have been independent directors on Arco's Board since February 2021. This move completes the filling of all three seats on the Audit Committee, underlining Arco's commitment to governance and oversight. The company continues to focus on its data-driven learning methodologies to enhance education access for students.
Arco Platform Limited (Nasdaq: ARCE) reported a 9% year-over-year increase in net revenue to R$256.3 million for 2Q21. The company's gross profit was R$188.2 million, while adjusted EBITDA dropped 28% to R$72.3 million, reflecting operational challenges due to COVID-19. Core solutions revenue fell 14% to R$200.2 million, contrasted by a 188% increase in supplemental solutions to R$56.1 million, driven by acquisitions. Arco's free cash flow rose 8% to R$63.7 million. The company's cash position stands at R$866 million, supporting its ongoing operations and future acquisitions.
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Arco Platform Limited (Nasdaq: ARCE) has announced the resignations of board members Pablo Doberti and David Peixoto, effective immediately. These changes are part of a strategic renewal aimed at enhancing business insights. The board will now consist of three family members and five independent directors, focusing on leveraging diverse skills for improved decision-making and achieving high-quality education at scale. The company expresses gratitude for the contributions of Mr. Doberti and Mr. Peixoto during their tenure.
Arco Platform Limited (Nasdaq: ARCE) announced it will release its second quarter 2021 financial results on August 19, 2021, after market closure. A conference call will follow at 5 p.m. Eastern Time, where investors can participate by calling +1 (412) 717-9627 or +1 (844) 204-8942. An audio replay will be available until August 25, 2021. Investors can also access a live and archived webcast on the Company's Investor Relations website. Arco focuses on transforming education through data-driven methodologies and personalized learning experiences.
Arco Platform Limited (Nasdaq: ARCE) reported robust Q1 2021 results with net revenue of R$331.7 million, marking a 27% YoY increase. The Core segment saw 20% organic growth, while Supplemental solutions surged by 64%. Adjusted EBITDA reached R$118.4 million, up 22% YoY, and gross profit increased to R$244.5 million, maintaining a margin of 73.7%. Nonetheless, revenue recognition could be slightly below contracted values due to lower enrollments in pre-K and kindergarten, impacted by the ongoing COVID-19 pandemic.
Arco Platform Limited (Nasdaq: ARCE) has appointed Paula Soares de Sá Cavalcante to its Board of Directors. This strategic move is part of a long-term succession plan following the tenure of Mr. Oto de Sá Cavalcante, ensuring the founding family’s commitment to the company. Ms. Cavalcante, with a robust educational background in Business Administration and Finance, previously worked at Deloitte. The board now includes 3 members from the controlling family and 7 independent directors, aiming to enhance decision-making and accelerate Arco's mission of delivering quality education.
Arco Platform Limited (Nasdaq: ARCE) will announce its Q1 2021 financial results on May 24, 2021, after market close. A conference call will take place at 6 p.m. ET on the same day, providing insights into the company’s performance during the first quarter. This event reflects Arco's commitment to transparency with investors. The call can be accessed via phone or through a live and archived webcast available on their Investor Relations website.