Vasta Platform Ltd Stock Price, News & Analysis

Vasta Platform Limited (NASDAQ: VSTA) announced a leadership transition as CEO Mario Ghio steps down on April 30, 2023. Guilherme Mélega, current COO, will succeed him, ensuring continuity due to their close collaboration. Mr. Ghio, who has dedicated nearly 30 years to Vasta, will remain on the Board and assist in the transition while continuing as President of ABRASPE. The transition comes at a time of strong growth for Vasta post-COVID, with Mr. Mélega bringing nearly a decade of experience at the Company and prior roles in education. Vasta provides technology-driven educational solutions for K-12 private schools in Brazil.

Vasta Platform Limited (NASDAQ: VSTA) reported strong financial results for 4Q22, with a subscription revenue growth of 28%, totaling R$443.9 million. The Annual Contract Value (ACV) for 2023 reached R$1,230 million, reflecting a 20% organic growth. The company's accumulated subscription revenue increased by 39.5% to R$1,121 million in 2022. Adjusted EBITDA surged 106% to R$375 million, with a margin improvement to 29.7%. However, adjustments included R$15 million in provisions for doubtful accounts linked to a major retail company's judicial recovery. Free cash flow improved significantly to R$92 million in 2022, marking a turnaround from a prior year loss.