PicPay Announces Second Quarter 2026 Results
Rhea-AI Summary
PicPay (NASDAQ: PICS) reported strong second quarter 2026 results, with net revenue of R$4.1 billion, up 67% YoY, and adjusted net income of R$283 million, up 135% YoY, according to the company. Gross profit reached R$1.2 billion, while net interest income grew 65% YoY to R$2.0 billion.
PicPay’s total credit portfolio rose to R$31.9 billion, exceeding guidance and nearly doubling YoY, with secured and partially secured loans now 55% of the book and cost of risk at 3.9%. ARPAC increased 52% YoY to R$92, more than four times the R$21.3 cost to serve, supporting a 20.2% ROE.
The company surpassed 70 million accounts, completed the Kovr acquisition, expanded SMB and supply chain finance, and launched Brazil’s first banking plugins on ChatGPT and Claude. For Q3 2026, PicPay guides for further portfolio, revenue, and earnings growth.
Positive
- Net revenue R$4.1B, up 67% YoY in Q2 2026
- Adjusted net income R$283M, up 135% YoY
- Net interest income R$2.0B, up 65% YoY and 18% QoQ
- Total credit portfolio R$31.9B, up 99% YoY and above guidance
- ARPAC R$92, up 52% YoY and over 4x cost to serve
- ROE 20.2% in the second quarter of 2026
- Non-credit revenue R$1.9B, up 57% YoY
- Secured/partially secured credit revenue R$1.0B, up 158% YoY
- TPV R$167.6B, up 27% YoY
- SMB new accounts 85k/month vs 27k in 1H25 (3.2x)
- Private payroll loans R$7.2B, 5.6x YoY and 44% QoQ growth
- Kovr acquisition completed, expected to expand ecosystem economics
- Q3 2026 adjusted net income guidance ~R$265M
- Q3 2026 IFRS net income guidance ~R$255M
- Q3 2026 total credit portfolio guidance ~R$34.7B (≈11% QoQ)
Negative
- None.
Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Jun 02 | 1Q26 earnings results | Positive | -19.2% | Strong revenue, income and portfolio growth was followed by a -19.16% reaction. |
| Mar 18 | 4Q25/full-year results | Positive | -22.5% | Fourth-quarter and full-year results were followed by a -22.49% 24-hour reaction. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Both tag-matched earnings events reported positive operating results but were followed by negative 24-hour reactions, averaging -20.82%.
Key Terms
roe financial
cost of risk financial
ifrs ebt financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
Company exceeded guidance across key metrics, driven by continued growth and resiliency of its lending portfolio and greater operating efficiency
PicPay surpassed 70 million accounts in the quarter, while ARPAC increased to R
Continued to deliver customer-centric innovation, with introduction of plug-ins across OpenAI and Claude ecosystems
SÃO PAULO, Aug. 24, 2026 (GLOBE NEWSWIRE) -- PicPay (NASDAQ: PICS) (the "Company"), one of Brazil’s largest digital banks, today announced its financial results for the second quarter ended June 30, 2026, delivering performance that exceeded guidance and reinforced the compounding power of its two-sided digital ecosystem.
"Our strong performance in the second quarter is a testament to the consistent execution of our strategy and the compelling unit economics of our platform at scale," said Eduardo Chedid, PicPay Chief Executive Officer. "We continue to add and deepen customer relationships, growing both total accounts and active clients, while increasing our efficiency as ARPAC exceeds four-times our cost to serve. The completion of the Kovr acquisition and the launch of Brazil's first integrated banking plugin on both Claude and ChatGPT mark important milestones in our platform expansion, and we enter the second half of the year with strong momentum and a clear path to continued profitable growth."
Second Quarter 2026 Financial Highlights
- Net revenue reached R
$4.1 billion , a67% increase year over year, reflecting the continued expansion and diversification of the Company's revenue streams. - Adjusted net income totaled R
$283 million , up135% compared to the second quarter of 2025, as operating leverage across the platform continues to convert revenue growth into profit growth. - Gross profit totaled R
$1.2 billion , a48% increase YoY and14% sequential increase. Net interest income (NII) reached R$2.0 billion , a65% increase YoY and18% sequential increase, driven by strong portfolio expansion, improving funding mix, and the growing contribution of secured credit products. - Average revenue per active customer (ARPAC) reached R
$92.0 , up52% YoY — more than four times the cost to serve of R$21.3 per active client, which grew only13% over the same period, as PicPay drives greater monetization and operational efficiency. - Return on equity (ROE) in the second quarter was
20.2% .
Operational, Revenue Expansion & Innovation Highlights
Revenue diversification and base monetization. Revenue continued to shift toward lower-risk sources in the quarter, with no-risk and lower-risk products representing
Continued growth and resilience across the credit portfolio. The total credit portfolio reached R
Innovation and Platform Highlights. PicPay became the first bank in Brazil to launch plugins across both ChatGPT and Claude, enabling a fully personalized, AI-powered conversational experience for balance, statement, and investment queries. The Company launched a full investment platform to offer an expanded equities portfolio. PicPay also continued to expand its Tap on Phone solution for individual consumers, enabling its 70 million users to accept debit and credit card payments directly on their smartphones.
Completed Acquisition of Kovr. The acquisition of Kovr is a meaningful strategic step for PicPay’s ecosystems, presenting greater opportunity to expand product penetration, capture additional economics and unlock a new contribution to earnings growth.
"PicPay’s second quarter results highlight the durability and scalability of our financial model," said André Cazotto, Chief Financial Officer and Investor Relations Officer at PicPay. "Our credit portfolio continues to grow as we thoughtfully manage risk, while PicPay continues to expand non-lending revenues across the business. Our third quarter guidance reflects our continued confidence in PicPay’s ability to drive top- and bottom-line growth as we deliver innovative solutions that help our customers improve their financial lives.”
Q3 2026 Outlook
In the third quarter of 2026, PicPay expects its total credit portfolio to reach approximately R
Conference Call Details
Additional details, including a letter to shareholders, can be found on the Company's Investor Relations website at investor.picpay.com. PicPay will host a conference call and earnings webcast at 5:00 p.m. Eastern Time / 6:00 p.m. Brasilia time today to discuss these results.
To participate in the conference call, please visit the Events & Presentations section of PicPay's Investor Relations website.
About PicPay
PicPay is one of the largest digital banks in Brazil by number of customers. The company operates a two-sided ecosystem, creating a bridge between consumers and businesses. PicPay offers a wide range of financial products and services—including digital wallet, credit cards, loans, investments, and insurance—for both individuals and businesses.
For more information, visit: https://investor.picpay.com/
Contacts
Investors
IR@PicPay.com
Media
Buchanan-PicPay@bursonbuchanan.com
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements regarding the Company’s future financial and operating performance, business strategy, growth initiatives, market opportunities, product development, customer adoption, and management’s expectations and beliefs.
These statements are based on current assumptions and expectations and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Factors that may cause actual results to differ include, among others, economic and market conditions, competitive developments, regulatory changes, credit performance, technology and cybersecurity risks, and other factors described in the Company’s filings with the U.S. Securities and Exchange Commission (“SEC”).
Forward-looking statements speak only as of the date of this release, and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.
