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StoneCo nine-month 2026 net income rises to R$2.68B

Available on EDGAR Accepted by SEC EDGAR
Filing Impact
(Moderate)
Filing Sentiment

Sentiment and the balance of points

Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.

How Sentiment worksHow the balance works

Form Type
6-K

Rhea-AI Filing Summary

StoneCo Ltd. reported nine-month 2026 total revenue and income from continuing operations of R$10,851.463 million, compared with R$10,428.510 million in 2025. Net income was R$2,682.920 million, versus R$1,834.976 million. Net revenue from transaction activities and other services was R$1,333.846 million, compared with R$1,944.851 million.

Continuing-operations net income was R$2,760.926 million. Income-tax results included R$1,544.762 million of deferred tax benefit, including R$1,242.596 million from recognition of deferred tax on tax goodwill. Operating activities provided R$2,381.505 million of net cash, versus R$33.585 million used in 2025. StoneCo paid R$3,078.248 million in dividends during the nine months. Cash and cash equivalents were R$4,494.153 million as of September 30, 2026. Ernst & Young's review said nothing came to its attention causing it to believe the statements were not prepared, in all material respects, under IAS 34; the review was not an audit.

2 points · 0 major

How this balance works

Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

How the balance worksHow Sentiment works

0 major · 1 point

How the balance works

Positive

  • Moderate pointNine-month net income rose to R$2,682.920 million from R$1,834.976 million.
  • Moderate pointNine-month operating cash provided R$2,381.505 million, versus R$33.585 million used in 2025.

Negative

  • Moderate pointTransaction-activity net revenue was R$1,333.846 million, versus R$1,944.851 million in 2025.

Filing Explained

André Street's reported share of StoneCo's combined voting power exceeded his reported percentage of outstanding common shares.

StoneCo furnished unaudited interim financial statements as of September 30, 2026 in this Form 6-K. The filing states that the report is incorporated by reference into its Form S-8 registration statement from the filing date, to the extent it is not superseded by later filings.

The notes report that André Street directly and indirectly owned 8.61% of outstanding common shares and held 41.29% of combined voting power as of September 30, 2026; they also report that he held 2.58% of Class A common shares and 100% of Class B common shares.

Total revenue and income from continuing operations R$10,851.463 million; R$10,428.510 million in 2025 Nine months ended September 30, 2026 and 2025
Net revenue from transaction activities and other services R$1,333.846 million; R$1,944.851 million in 2025 Nine months ended September 30, 2026 and 2025
Net income R$2,682.920 million; R$1,834.976 million in 2025 Nine months ended September 30, 2026 and 2025
Net income from continuing operations R$2,760.926 million; R$1,766.990 million in 2025 Nine months ended September 30, 2026 and 2025
Net cash provided by operating activities R$2,381.505 million; R$33.585 million used in 2025 Nine months ended September 30, 2026 and 2025
Dividends paid R$3,078.248 million Nine months ended September 30, 2026
Basic earnings per share from continuing operations R$11.52 per share; R$6.47 per share in 2025 Nine months ended September 30, 2026 and 2025
Cash and cash equivalents R$4,494.153 million; R$4,821.703 million As of September 30, 2026 and December 31, 2025
IAS 34 – Interim Financial Reporting technical
"prepared in accordance with IAS 34 – Interim Financial Reporting"
non-performing loans (NPL) financial
"Non-performing loans ("NPL")"
expected credit loss (ECL) financial
"expected credit loss ("ECL")"
cash flow hedge financial
"Changes in the fair value of cash flow hedge"
A cash flow hedge is an accounting label for a contract or arrangement used to offset expected future swings in a company’s cash payments or receipts — for example from variable-rate interest, foreign currency sales, or forecasted purchases. It matters to investors because it aims to smooth future cash and earnings volatility: gains or losses on the hedge are held out of current profit and reported separately until the underlying transaction affects results, much like buying insurance to steady future bills.
fair value hedge financial
"The Group applies fair value hedge accounting"
A fair value hedge is a risk-management technique where a company uses a financial contract to offset changes in the market value of a specific asset or liability, like locking in a price to protect against losses. Investors care because gains or losses from both the hedge and the hedged item flow through reported earnings together, which can reduce or reveal volatility in profit and the balance sheet value of holdings — much like insurance that smooths out the ups and downs of an owned item.
SPPI Test technical
"significant characteristics in the assessment of sole payments of principal and interest ("SPPI Test")"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How much net income did STNE report for the nine months ended September 30, 2026?
StoneCo reported net income of R$2,682.920 million for the nine months ended September 30, 2026, compared with R$1,834.976 million in the same 2025 period. Net income from continuing operations was R$2,760.926 million in 2026; discontinued operations recorded a R$78.006 million loss.

How much operating cash flow did STNE report for the nine months ended September 30, 2026?
Net cash provided by operating activities was R$2,381.505 million, compared with R$33.585 million used in the nine months ended September 30, 2025. Cash and cash equivalents were R$4,494.153 million as of September 30, 2026.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 6-K: How Foreign Companies Report to the SEC →
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE
SECURITIES EXCHANGE ACT OF 1934
For the month of September 2026
Commission File Number: 001-38714
STONECO LTD.
(Exact name of registrant as specified in its charter)
4th Floor, Harbour Place
103 South Church Street, P.O. Box 10240
Grand Cayman, KY1-1002, Cayman Islands
+55 (11) 3004-9680
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:
Form 20-F ☑            Form 40-F ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐

INCORPORATION BY REFERENCE
This report on Form 6-K shall be deemed to be incorporated by reference into the registration statement on Form S-8 (Registration Number: 333265382) of StoneCo Ltd. and to be a part thereof from the date on which this report is filed, to the extent not superseded by documents or reports subsequently filed or furnished.


EXHIBIT INDEX
Exhibit No.Description
99.1
StoneCo Ltd. – Unaudited Interim Condensed Consolidated Financial Statements as of September 30, 2026.


SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
StoneCo Ltd.
By:/s/ Diego Ventura Salgado
Name:Diego Ventura Salgado
Title:Chief Financial Officer and Investor Relations Officer
Date: November 12, 2026

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September 30, 2026
with report on review of interim condensed consolidated financial information


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Index to Interim Condensed Consolidated Financial Statements
Interim Condensed Consolidated Financial Statements
    Page
Report on review of interim condensed consolidated financial information
3
Unaudited interim condensed consolidated statement of financial position as of September 30, 2026 and December 31, 2025
4
Unaudited interim condensed consolidated statement of profit or loss for the nine and three months ended September 30, 2026 and 2025
6
Unaudited interim condensed consolidated statement of other comprehensive income (loss) for the nine and three months ended September 30, 2026 and 2025
7
Unaudited interim condensed consolidated statement of changes in equity for the nine months ended September 30, 2026 and 2025
8
Unaudited interim condensed consolidated statement of cash flows for the nine months ended September 30, 2026 and 2025
9
Notes to unaudited interim condensed consolidated financial statements as of September 30, 2026
11



Report on review of interim condensed consolidated financial information

To the Shareholders and Management of
StoneCo Ltd.
Introduction
We have reviewed the accompanying interim condensed consolidated financial statements of StoneCo Ltd. (the “Company”) as at September 30, 2026 which comprise the interim consolidated statement of financial position as at September 30, 2026 and the related interim consolidated statements of profit or loss and of other comprehensive income (loss) for the three and nine-months periods then ended, changes in equity and cash flows for the nine months period then ended and explanatory notes.
Management is responsible for the preparation and presentation of this interim condensed consolidated financial information in accordance with IAS 34 – Interim Financial Reporting, issued by the International Accounting Standards Board (IASB). Our responsibility is to express a conclusion on this interim condensed consolidated financial information based on our review.
Scope of review
We conducted our review in accordance with International Standard on Review Engagements 2410 - Review of Interim Financial Information Performed by the Independent Auditor of the Entity.
A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
Conclusion
Based on our review, nothing has come to our attention that causes us to believe that the accompanying interim condensed consolidated financial statements are not prepared, in all material respects, in accordance with IAS 34 – Interim Financial Reporting, issued by the International Accounting Standards Board (IASB).

São Paulo, November 11, 2026.


ERNST & YOUNG
Auditores Independentes S/S Ltda.
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Unaudited interim condensed consolidated statement of financial position
As of September 30, 2026 and December 31, 2025
(In thousands of Brazilian Reais)
Unaudited interim condensed consolidated statement of financial position as of September 30, 2026 and December 31, 2025
Notes September 30, 2026December 31, 2025
Assets
Current assets
Cash and cash equivalents44,494,153 4,821,703 
Short-term investments5.11,284,967 1,119,136 
Financial assets from banking solutions5.5640,848 1,855,796 
Accounts receivable from card issuers5.2.140,494,514 41,275,188 
Trade accounts receivable5.3.1323,377 222,501 
Credit portfolio5.42,566,042 2,008,436 
Recoverable taxes7493,255 690,285 
Derivative financial instruments5.729,171 58,554 
Other assets6504,484 372,634 
50,830,811 52,424,233 
Assets classified as held for sale20.1— 4,022,823 
50,830,811 56,447,056 
Non-current assets
Long-term investments5.122,999 24,586 
Accounts receivable from card issuers5.2.1318,323 146,776 
Trade accounts receivable5.3.112,657 21,874 
Credit portfolio5.4727,110 438,380 
Derivative financial instruments5.77,542 11,464 
Deferred tax assets8.22,801,555 1,256,150 
Investment in associates71,193 71,614 
Property and equipment9.11,654,851 1,725,506 
Intangible assets10.12,035,274 1,986,935 
Other assets6226,837 166,555 
7,878,341 5,849,840 
Total assets 58,709,152 62,296,896 
(continued)

The accompanying notes are an integral part of these unaudited interim condensed consolidated financial statements.

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Unaudited interim condensed consolidated statement of financial position
As of September 30, 2026 and December 31, 2025
(In thousands of Brazilian Reais)
Notes September 30, 2026December 31, 2025
Liabilities and equity
Current liabilities
Retail deposits5.6.111,388,893 11,090,985 
Accounts payable to clients5.2.217,761,692 18,081,964 
Trade accounts payable887,250 848,341 
Institutional deposits and marketable debt securities5.6.26,015,428 5,777,314 
Other debt instruments5.6.24,185,559 2,866,445 
Labor and social security liabilities447,771 536,364 
Taxes payable148,946 899,270 
Derivative financial instruments5.7461,032 94,871 
Other liabilities451,388 215,497 
41,747,959 40,411,051 
Liabilities associated with assets held for sale20.1— 793,006 
41,747,959 41,204,057 
Non-current liabilities
Accounts payable to clients5.2.2125,195 72,383 
Institutional deposits and marketable debt securities5.6.23,948,599 4,578,162 
Other debt instruments5.6.22,779,374 4,360,144 
Derivative financial instruments5.7302,344 176,166 
Deferred tax liabilities8.2314,457 309,136 
Provision for contingencies12.1255,297 214,914 
Labor and social security liabilities44,621 82,869 
Other liabilities39,200 264,294 
7,809,087 10,058,068 
Total liabilities 49,557,046 51,262,125 
Equity
Issued capital13.176 76 
Capital reserve13.26,588,133 14,181,160 
Treasury shares13.3(1,608,442)(4,591,288)
Other comprehensive income (loss)13.5(510,833)(536,073)
Retained earnings4,638,674 1,973,342 
9,107,608 11,027,217 
Other comprehensive income (loss) associated with assets held for sale20.1— (32,201)
Equity attributable to controlling shareholders9,107,608 10,995,016 
Non-controlling interests44,498 39,755 
Total equity9,152,106 11,034,771 
Total liabilities and equity58,709,152 62,296,896 
(concluded)
The accompanying notes are an integral part of these unaudited interim condensed consolidated financial statements.

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Unaudited interim condensed consolidated statement of profit or loss
For the nine and three months ended September 30, 2026 and 2025
(In thousands of Brazilian Reais, unless otherwise stated)
Unaudited interim condensed consolidated statement of profit or loss for the nine and three months ended September 30, 2026 and 2025
Nine months ended September 30,Three months ended September 30,
Notes 2026202520262025
Continuing operations
Net revenue from transaction activities and other services15.11,333,846 1,944,851425,258625,971
Net revenue from subscription services and equipment rental15.1727,329 658,921231,171224,124
Financial income15.18,044,976 7,256,2602,796,8582,544,028
Other financial income15.1745,312 568,478232,769172,667
Total revenue and income from continuing operations10,851,46310,428,5103,686,0563,566,790
Cost of services16(3,187,291)(2,453,936)(1,052,274)(817,754)
Administrative expenses16(635,148)(666,606)(214,661)(233,716)
Selling expenses16(1,657,758)(1,585,523)(570,276)(527,170)
Financial expenses, net17(3,346,193)(3,325,908)(1,160,313)(1,147,095)
Other income (expenses), net16(286,739)(275,013)(67,418)(39,005)
(9,113,129)(8,306,986)(3,064,942)(2,764,740)
Gain (loss) on investment in associates462 (1,329)1,076(1,191)
Profit before income taxes from continuing operations1,738,796 2,120,195 622,190 800,859 
Current income tax and social contribution8.1(522,632)(453,712)(77,357)(155,040)
Deferred income tax and social contribution8.11,544,762 100,507(14,123)22,326
Net income for the period from continuing operations2,760,926 1,766,990 530,710 668,145 
Net income (loss) for the period from discontinued operations20.1(78,006)67,986(9,068)47,105
Net income for the period2,682,920 1,834,976 521,642 715,250 
Net income attributable to:
Controlling shareholders from continuing operations2,743,338 1,754,847 523,282 660,074 
Non-controlling interests from continuing operations17,588 12,143 7,428 8,071 
2,760,926 1,766,990 530,710 668,145 
Controlling shareholders from discontinued operations(78,006)64,894 (9,068)46,700 
Non-controlling interests from discontinued operations— 3,092 — 405 
(78,006)67,986 (9,068)47,105 
Earnings per share of continuing operations
Basic earnings per share for the period attributable to controlling shareholders (in Brazilian reais)14.211.526.472.302.49
Diluted earnings per share for the period attributable to controlling shareholders (in Brazilian reais)14.211.246.322.242.43
Earnings per share of discontinued operations
Basic earnings (loss) per share for the period attributable to controlling shareholders (in Brazilian reais)14.2(0.33)0.24(0.04)0.18
Diluted earnings (loss) per share for the period attributable to controlling shareholders (in Brazilian reais)14.2(0.33)0.23(0.04)0.17
The accompanying notes are an integral part of these unaudited interim condensed consolidated financial statements.

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Unaudited interim condensed consolidated statement of other comprehensive income (loss)
For the nine and three months ended September 30, 2026 and 2025
(In thousands of Brazilian Reais)
Unaudited interim condensed consolidated statement of other comprehensive income (loss) for the nine and three months ended September 30, 2026 and 2025
Nine months ended September 30,Three months ended September 30,
Notes 2026202520262025
Net income for the period2,682,920 1,834,976 521,642 715,250 
Other comprehensive income ("OCI")
Other comprehensive income (loss) that may be reclassified to profit or loss in subsequent periods:
Changes in the fair value of accounts receivable from card issuers19.1.152,803 (434,003)(134,940)(168,784)
Tax on changes in the fair value of accounts receivable from card issuers8.2(9,325)147,561 50,441 57,387 
Exchange differences on translation of foreign operations7,411 (12,692)1,578 (3,408)
Changes in the fair value of cash flow hedge (12,992)30,535 (2,052)8,769 
Tax on changes in the fair value of cash flow hedge8.24,647 (10,285)480 (1,058)
Changes in the fair value of cash flow loans(1,000)— (1,000)— 
Net monetary position in hyperinflationary economies— 8,224 — 631 
Other comprehensive income (loss) that were reclassified to profit or loss in subsequent periods:
Reclassification to profit or loss of accumulated exchange differences on disposal of foreign operation14,959 — — — 
Other comprehensive income (loss) for the period56,503 (270,660)(85,493)(106,463)
Total comprehensive income for the period2,739,423 1,564,316 436,149 608,787 
Total comprehensive income attributable to:
Controlling shareholders2,722,773 1,549,081 428,725 600,147 
Non-controlling interests16,650 15,235 7,424 8,640 
Total comprehensive income for the period2,739,423 1,564,316 436,149 608,787 
The accompanying notes are an integral part of these unaudited interim condensed consolidated financial statements.

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Unaudited interim condensed consolidated statement of changes in equity
For the nine months ended September 30, 2026 and 2025
(In thousands of Brazilian Reais)
Unaudited interim condensed consolidated statement of changes in equity for the nine months ended September 30, 2026 and 2025
Attributable to owners of the parent
Capital reserve
Notes Issued capitalAdditional paid-in capitalTransactions among shareholdersSpecial reserveOther reservesTotalTreasury sharesOther comprehensive incomeOther comprehensive income associated with assets held for saleRetained
earnings
(accumulated losses)		TotalNon-controlling interestsTotal
Balance as of December 31, 202476 13,825,325 (581,416)61,127 910,176 14,215,212 (1,805,896)(287,048)— (346,360)11,775,984 51,298 11,827,282 
Net income for the period— — — — — — — — — 1,819,741 1,819,741 15,235 1,834,976 
Other comprehensive income (loss) for the period— — — — — — — (237,403)(33,053)— (270,456)(204)(270,660)
Total comprehensive income— — — — — — — (237,403)(33,053)1,819,741 1,549,285 15,031 1,564,316 
Sale of subsidiary— — — — — — — — — — — (8,794)(8,794)
Repurchase of shares— — — — — — (1,706,509)— — — (1,706,509)— (1,706,509)
Share-based payments— — — — 119,570 119,570 — — — — 119,570 — 119,570 
Shares delivered under share-based payment arrangements— — (8,315)— (161,924)(170,239)170,239 — — — — — — 
Equity transaction related to put options over non-controlling interest— — — — (5,835)(5,835)— — — — (5,835)(6,913)(12,748)
Premium received in option transactions— — — — 14,932 14,932 — — — — 14,932 — 14,932 
Equity transaction with non-controlling interests— — — — — — — — — — 1,990 1,990 
Dividends paid— — — — — — — — — — — (9,811)(9,811)
Balance as of September 30, 202576 13,825,325 (589,731)61,127 876,919 14,173,640 (3,342,166)(524,451)(33,053)1,473,381 11,747,427 42,801 11,790,228 
Balance as of December 31, 202576 13,825,325 (783,058)61,127 1,077,766 14,181,160 (4,591,288)(536,073)(32,201)1,973,342 10,995,016 39,755 11,034,771 
Net income for the period— — — — — — — — — 2,665,332 2,665,332 17,588 2,682,920 
Other comprehensive income (loss) for the period— — — — — — — 25,240 32,201 — 57,441 (938)56,503 
Total comprehensive income— — — — — — — 25,240 32,201 2,665,332 2,722,773 16,650 2,739,423 
Repurchase of shares13.3— — — — — — (1,482,781)— — — (1,482,781)— (1,482,781)
Share-based payments— — — — 74,287 74,287 — — — — 74,287 — 74,287 
Premium received in option transactions13.4— — — — 520 520 — — — — 520 — 520 
Cancellation of shares
13.3
— (4,283,325)— — — (4,283,325)4,283,325 — — — — — — 
Shares delivered under share-based payment arrangements— — (20,159)— (162,143)(182,302)182,302 — — — — — — 
Equity transaction related to put options over non controlling interest— — — — (123,959)(123,959)— — — — (123,959)4,640 (119,319)
Dividends paid13.6— (3,078,248)— — — (3,078,248)— — — — (3,078,248)(16,446)(3,094,694)
Others— — — — — — — — — — — (101)(101)
Balance as of September 30, 202676 6,463,752 (803,217)61,127 866,471 6,588,133 (1,608,442)(510,833)— 4,638,674 9,107,608 44,498 9,152,106 
The accompanying notes are an integral part of these unaudited interim condensed consolidated financial statements.

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Unaudited interim condensed consolidated statement of cash flows
For the nine months ended September 30, 2026 and 2025
(In thousands of Brazilian Reais)
Unaudited interim condensed consolidated statement of cash flows for the nine months ended September 30, 2026 and 2025
Nine months ended September 30,
Notes 20262025
Operating activities
Net income for the period2,682,920 1,834,976 
Adjustments to reconcile net income for the period to net cash flows:
Depreciation and amortization9.2690,629 761,307 
Deferred income tax and social contribution
8.2/20.1
(1,530,587)(108,081)
Gain (loss) on investment in associates(462)1,329 
Accrued interest, monetary and exchange variations, net848,666 898,411 
Provision for contingencies122,926 109,132 
Share-based payments expenses171,938 254,117 
Allowance for expected credit losses918,231 243,015 
Loss (gain) on disposal of property, equipment and intangible assets19.2.551,069 (36,201)
Effect of applying hyperinflation accounting(10,196)8,113 
Loss (gain) on sale of subsidiary38,268 (56,588)
Fair value adjustment in financial instruments at FVPL19.2.1(18,713)191,195 
Fair value adjustment in derivatives(52,730)(197,518)
Remeasurement of previously held interest in subsidiary acquired— (1,986)
Working capital adjustments:
Accounts receivable from card issuers1,746,244 (7,997,282)
Receivables from related parties7,530 482 
Recoverable taxes532,540 (102,030)
Prepaid expenses(25,370)(36,556)
Trade accounts receivable, banking solutions and other assets1,093,955 7,623,258 
Credit portfolio(534,111)(700,002)
Accounts payable to clients(7,397,147)(7,486,115)
Taxes payable(864,742)549,798 
Labor and social security liabilities(251,328)(18,080)
Payment of contingencies12.1(89,077)(72,687)
Trade accounts payable and other liabilities(24,894)83,361 
Interest paid
(1,386,483)(746,403)
Interest income received, net of costs19.2.25,831,110 5,262,459 
Income tax paid(168,681)(295,009)
Net cash provided by (used in) operating activities2,381,505 (33,585)
The accompanying notes are an integral part of these unaudited interim condensed consolidated financial statements.

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Unaudited interim condensed consolidated statement of cash flows
For the nine months ended September 30, 2026 and 2025
(In thousands of Brazilian Reais)
Nine months ended September 30,
Notes 20262025
Investing activities
Purchases of property and equipment19.2.3(523,591)(546,125)
Purchases and development of intangible assets19.2.4(274,411)(334,158)
Proceeds from (investment in) short-term investments, net(52,370)176,250 
Sale of subsidiary, net of cash disposed3,081,287 18,523 
Proceeds from the disposal of non-current assets19.2.51,032 4 
Acquisition of subsidiary, net of cash acquired— (1,993)
Receipt from the sale of interest in subsidiaries43,265 — 
Payment of interest in subsidiaries acquired(61,018)(15,870)
Net cash provided by (used in) investing activities2,214,194 (703,369)
Financing activities
Proceeds from institutional deposits and marketable debt securities5.6.25,674,879 4,777,055 
Payment of institutional deposits and marketable debt securities5.6.2(6,266,364)(3,409,029)
Proceeds from other debt instruments, except lease5.6.2580,804 3,943,895 
Payment of other debt instruments, except lease5.6.2(545,146)(2,210,186)
Payment of principal portion of leases liabilities5.6.2(38,932)(63,810)
Repurchase of own shares13.3(1,482,781)(1,706,509)
Premium received in option transactions over own equity instruments13.4520 14,932 
Acquisition of non-controlling interests(80)(76)
Dividend paid 13.6(3,078,248)— 
Dividends paid to non-controlling interests(16,446)(9,811)
Net cash provided by (used in) financing activities(5,171,794)1,336,461 
Effect of foreign exchange on cash and cash equivalents17,902 (29,758)
Change in cash and cash equivalents(558,193)569,749 
Cash and cash equivalents at beginning of period45,052,346 5,227,654 
Cash and cash equivalents at end of period44,494,153 5,797,403 
Change in cash and cash equivalents(558,193)569,749 
The accompanying notes are an integral part of these unaudited interim condensed consolidated financial statements.

10
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Notes to Unaudited interim condensed consolidated financial statements
September 30, 2026
(In thousands of Brazilian Reais)
Notes to unaudited interim condensed consolidated financial statements as of September 30, 2026
1.    Operations
StoneCo Ltd. (the “Company”), is a Cayman Islands exempted company with limited liability, incorporated on March 11, 2014. The registered office of the Company is located at 4th Floor, Harbour Place 103 South Church Street, P.O. Box 10240 Grand Cayman E9 KY1-1002.
André Street, one of the co-founders of the Company, controls directly and indirectly 2.58% of Class A common shares and 100% of Class B common shares as of September 30, 2026. Accordingly, André Street directly and indirectly owns 8.61% of outstanding common shares and 41.29% of the combined voting power of common shares.
The Company’s shares are publicly traded on Nasdaq under the ticker symbol STNE.
The Company and its subsidiaries (collectively, the “Group”), is a leading provider of financial technology solutions that empower merchants to conduct commerce seamlessly across multiple channels and help them grow their businesses with payments, banking and credit.
2.    Basis of preparation and changes to the Group’s accounting policies and estimates
2.1.    Basis of preparation
The interim condensed consolidated financial statements for the nine months ended September 30, 2026 have been prepared in accordance with IAS 34 – Interim Financial Reporting, issued by the International Accounting Standards Board (“IASB”), on the basis that it will continue to operate as a going concern.
The interim condensed consolidated financial statements are presented in Brazilian Reais (“R$”), and all values are rounded to the nearest thousand (R$ 000), except when otherwise indicated.
The interim condensed consolidated financial statements do not include all the information and disclosures required in the annual financial statements and should be read in conjunction with the Group’s annual consolidated financial statements as of December 31, 2025.
The accounting policies adopted in this interim reporting period are consistent with those of the previous financial year.
The interim condensed consolidated financial statements of the Group for the nine months ended September 30, 2026 and 2025 were approved by the Audit Committee on November 11, 2026.
2.2.    Estimates
The preparation of the Group’s interim financial statements requires management to make judgments and estimates and to adopt assumptions that affect the amounts presented of revenues, expenses, assets and liabilities at the financial statement date. Actual results may differ from these estimates.
Judgments, estimates and assumptions are frequently revised, and any effects are recognized in the revision period and in any future affected periods. The objective of these revisions is mitigating the risk of material differences between the estimated and actual results in the future.
In preparing these interim condensed consolidated financial statements, the significant judgments and estimates made by management in applying the Group’s accounting policies and the key sources of estimation uncertainty were the same as those from the consolidated financial statements for the year ended December 31, 2025.
F-11
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Notes to Unaudited interim condensed consolidated financial statements
September 30, 2026
(In thousands of Brazilian Reais)
2.3. New standards and amendments to standards and interpretations adopted
•Annual Improvements to IFRS accounting Standards – Volume 11: In July 2024, IASB issued nine narrow scope amendments as part of its periodic maintenance of IFRS accounting standards. The amendments include clarifications, simplifications, corrections or changes to improve consistency in IFRS 1 First-time Adoption of International Financial Reporting Standards, IFRS 7 Financial instruments: Disclosure and its accompanying Guidance on implementing IFRS 7, IFRS 9 Financial Instruments, IFRS 10 Consolidated Financial Statements and IAS 7 Statements of Cash Flows.
•IFRS 9 - Financial instruments and IFRS 7 - Financial instruments: Disclosures: On 30 May 2024, IASB issued Amendments to the Classification and Measurement of Financial Instruments which amended IFRS 9 Financial Instruments and IFRS 7 Financial Instruments: Disclosures (the “Amendments”). The Amendments provide additional guidance and clarity on the following specific matters: date of recognition and write-off of financial instruments and significant characteristics in the assessment of sole payments of principal and interest (“SPPI Test”) for financial assets, and guidance on the assessment of contractual cash flows for financial assets with environmental, social and corporate governance (ESG) and similar features. In addition, the amendments add disclosures relating to equity instruments designated at fair value through other comprehensive income and financial instruments linked to contingent events.
The application of these accounting standards as of January 1, 2026, had no significant impact on the Group’s consolidated financial statements.
3.    Group information
3.1.    Subsidiaries
In accordance with IFRS 10 - Consolidated Financial Statements, subsidiaries are all entities in which the Company holds control.
The following table shows the main consolidated entities, which correspond to the Group’s most relevant operating vehicles.
% of Group's equity interest
Entity nameMain activitiesSeptember 30, 2026December 31, 2025
Stone Apex Capital LLC ("Stone Apex") (a)
Financial services100.00—
Stone Corporate SPE S.A. ("Stone Corporate")Financial services100.00100.00
Stone Sociedade de Crédito Direto S.A. (“Stone SCD”)Financial services100.00100.00
Stone Sociedade de Crédito, Financiamento e Investimento S.A. ("Stone SCFI")Financial services100.00100.00
Stone Capital AG ("Stone Capital") (a)
Financial services100.00—
Tapso Fundo de Investimento em Direitos Creditórios Responsabilidade Limitada ("FIDC TAPSO")Investment fund100.00100.00
Pagar.me S.A. (“Pagar.me”)Merchant acquiring100.00100.00
Stone Instituição de Pagamento S.A. (“Stone IP”)Merchant acquiring100.00100.00
(a) During the first quarter of 2026, wholly-owned subsidiaries of the Group were incorporated in Switzerland (Stone Capital AG), in Luxembourg (Stone ALP Holding SARL and Stone VETC SARL), and in the United States (Stone Apex Capital LLC). The functional currency of these entities is the Brazilian Real (BRL).
There were no changes in the interest held by the Group in its subsidiaries.
F-12
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Notes to Unaudited interim condensed consolidated financial statements
September 30, 2026
(In thousands of Brazilian Reais)
The Group holds call options to acquire additional interests in some of its subsidiaries (Note 5.7) and issued put options to non-controlling investors (Note 5.10.1(g)).
3.2.    Associates
The following table shows all entities in which the Group has significant influence.
% of Group's equity interest
Entity name
Main activities
September 30, 2026December 31, 2025
Agilize Contabilidade Holding Limited ("Agilize Cayman")Technology services28.7028.70
Alpha-Logo Serviços de Informática S.A. (“Tablet Cloud”)Technology services25.0025.00
Delivery Much Tecnologia S.A. (“Delivery Much”) (a)
Food delivery marketplace28.9529.49
Dental Office S.A. (“Dental Office”) (b)
Technology services—20.00

(a)Dilution of the Company's equity interest resulting from a capital increase.
(b)The equity interest held by the Group in Dental Office was disposed of in April, 2026.

The Group holds call options to acquire additional interests in some of its associates (Note 5.7).
4.    Cash and cash equivalents
September 30, 2026December 31, 2025
Denominated in R$ (a)
4,408,536 4,772,659 
Denominated in US$ (a)
84,837 49,044 
Denominated in other foreign currencies780 — 
4,494,153 4,821,703 
(a)As of December 31, 2025, the amount of R$ 4,821,703 relates to continuing operations, Cash and cash equivalents from discontinued operations amount to R$ 230,643, resulting in a total of R$ 5,052,346, as presented in the Consolidated statement of cash flows.
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Notes to Unaudited interim condensed consolidated financial statements
September 30, 2026
(In thousands of Brazilian Reais)
5.    Financial instruments
5.1.    Short and Long-term investments
Short-termLong-termSeptember 30, 2026
Bonds
Time deposits653,125 — 653,125 
Structured notes linked to Brazilian sovereign bonds
588,781 — 588,781 
Brazilian sovereign bonds42,416 — 42,416 
Equity securities (a)
— 22,999 22,999 
Investment funds (b)
645 — 645 
1,284,967 22,999 1,307,966 
Short-termLong-termDecember 31, 2025
Bonds
Time deposits720,119 — 720,119 
Structured notes linked to Brazilian sovereign bonds
326,168 — 326,168 
Brazilian sovereign bonds71,399 — 71,399 
Equity securities (a)
— 24,586 24,586 
Investment funds (b)
1,450 — 1,450 
1,119,136 24,586 1,143,722 
(a)Comprised of common shares of unlisted entities that are not traded in an active market. As of September 30, 2026 and December 31, 2025, all assets are recognized at FVPL. The fair value of unlisted equity instruments was estimated based on the price of the most recent observable transactions involving the investees’ shares, adjusted, when applicable, for changes in the investees’ performance and in market conditions through the reporting date. During the three months ended September 30, 2026, there was a transaction, and therefore a fair value adjustment of a loss of R$ 1,587 (loss of R$ 11,790 for the nine months ended September 30, 2025) was recognized in the statement of profit or loss.
(b)Comprised of foreign investment fund shares.
Short and Long-term investments are denominated in Brazilian Reais and U.S. dollars.
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Notes to Unaudited interim condensed consolidated financial statements
September 30, 2026
(In thousands of Brazilian Reais)
5.2.    Accounts receivable from card issuers and accounts payable to clients
5.2.1.    Composition of accounts receivable from card issuers
Accounts receivable are amounts due from card issuers and acquirers for the transactions of clients with card holders, performed in the ordinary course of business.
September 30, 2026December 31, 2025
Accounts receivable from card issuers (a)
41,004,834 41,175,415 
Accounts receivable from other acquirers (b)
99,178 323,461 
Allowance for expected accounts receivable credit losses (c)
(291,175)(76,912)
40,812,837 41,421,964 
Current40,494,514 41,275,188 
Non-current318,323 146,776 
(a)Accounts receivable from card issuers, net of interchange fees, as a result of processing transactions with clients.
(b)Accounts receivable from other acquirers related to PSP (Payment Service Provider) transactions.
(c)The scenarios considered in developing our estimate of the losses depend on a series of variables beyond the control of the Group. Such variables include, among others, the level of collections from cardholders of the card issuers, how those amounts collected are distributed to the relevant parties, any credit enhancement or proceeds that might be provided to the Group by the card schemes. Considering the different variables and considering all information available at the date of these financial statements we take into account reasonable variable scenarios and allocate probabilities to each of them. Due to the nature of the estimates, there is significant judgment beyond them and, as such, changes in circumstances and the information available to us may result in changes in the estimates that might be significant. Ultimate losses may differ from our current estimates.
Part of the Group’s cash requirement is to make prepayments to acquiring customers. The Group finances those requirements through different sources of funding including the true sale of receivables to third parties. When such sales of receivables are carried out to entities in which the Group has subordinated shares or quotas, the receivables sold remain in the statement of financial position, as these entities are consolidated in the financial statements. As of September 30, 2026 a total of R$ 2,634,804 were consolidated through Fundo de Investimento em Direitos Creditórios ACR I (“FIDC ACR I”) (December 31, 2025 R$ 2,670,380 through FIDC ACR I and R$ 441,323 through Fundo de Investimento em Direitos Creditórios ACR Fast), of which the Group has subordinated shares. When the sale of receivables is carried out to non-controlled entities and for transactions where continuous involvement is not present, the amounts transferred are derecognized from the accounts receivable from card issuers. As of September 30, 2026, the sale of receivables that were derecognized from accounts receivable from card issuers in the statement of financial position represents one of the funding sources used for the prepayment transaction.
Accounts receivable held by FIDCs guarantee the obligations to FIDC quota holders.
5.2.2.    Accounts payable to clients
Accounts payable to clients represent amounts due to accredited clients related to credit and debit card transactions, net of interchange fees retained by card issuers and assessment fees paid to payment scheme networks as well as the Group’s net merchant discount rate fees which are collected by the Group as an agent.
F-15
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Notes to Unaudited interim condensed consolidated financial statements
September 30, 2026
(In thousands of Brazilian Reais)
5.3.    Trade accounts receivable
5.3.1.    Composition of trade accounts receivable
Trade accounts receivables are amounts due from clients mainly related to subscription services and equipment rental.
September 30, 2026December 31, 2025
Chargeback196,172 156,718 
Accounts receivable from subscription services135,809 65,968 
Accounts receivable from equipment rental126,444 134,252 
Services rendered31,814 22,914 
Receivables from registry operation9,610 10,815 
Others37,452 24,605 
Allowance for expected trade accounts receivable losses (a)
(201,267)(170,897)
336,034 244,375 
Current323,377 222,501 
Non-current12,657 21,874 
(a)Relates primarily to chargebacks and POS terminal rentals.
5.4.    Credit portfolio
Portfolio balances by product:
September 30, 2026December 31, 2025
Merchant portfolio3,581,160 2,540,670 
Credit card508,892 295,604 
Credit portfolio, gross4,090,052 2,836,274 
Allowance for expected credit losses(793,902)(389,682)
Fair value adjustment - portfolio hedge (a)
(2,998)224 
(796,900)(389,458)
Credit portfolio, net3,293,152 2,446,816 
Current2,566,042 2,008,436 
Non-current727,110 438,380 
(a)The Group holds a portfolio of fixed-rate credit transactions exposed to market risk from fluctuations in the Brazilian interest rates. To mitigate this risk, fixed-for-floating interest rate swaps were entered into to protect the fair value of the portfolio against rates variations. These swaps are designated as fair value hedge accounting and, as a result, the interest rate risk of the credit transactions is marked to market against profit or loss. The portfolio is dynamically managed, with swap positions adjusted to reflect changes, including prepayment risk.
F-16
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Notes to Unaudited interim condensed consolidated financial statements
September 30, 2026
(In thousands of Brazilian Reais)
5.4.1.    Non-performing loans ("NPL")
Total outstanding of the contract whenever the clients default on an installment:
September 30, 2026December 31, 2025
Merchant portfolioCredit cardTotalMerchant portfolioCredit cardTotal
Balances not overdue2,965,183 427,857 3,393,040 2,243,458 262,358 2,505,816 
Balances overdue by
≤ 15 days97,323 10,005 107,328 52,602 4,503 57,105 
15 < 30 days40,018 8,278 48,296 25,599 3,115 28,714 
31 < 60 days54,154 9,148 63,302 57,930 3,768 61,698 
61 < 90 days65,088 7,087 72,175 31,944 3,162 35,106 
91 < 180 days150,874 19,519 170,393 58,143 7,875 66,018 
181 < 360 days208,520 26,998 235,518 70,994 10,823 81,817 
615,977 81,035 697,012 297,212 33,246 330,458 
Credit portfolio, gross3,581,160 508,892 4,090,052 2,540,670 295,604 2,836,274 
5.4.2.    Aging by maturity
September 30, 2026December 31, 2025
Merchant portfolioCredit cardTotalMerchant portfolioCredit cardTotal
Installments not overdue
≤ 15 days120,578 125,118 245,696 65,395 72,865 138,260 
15 < 30 days210,095 71,535 281,630 122,648 53,381 176,029 
31 < 60 days255,506 76,038 331,544 208,168 47,374 255,542 
61 < 90 days282,310 47,841 330,151 246,118 29,560 275,678 
91 < 180 days691,726 73,909 765,635 567,252 42,860 610,112 
181 < 360 days888,813 42,441 931,254 721,953 25,975 747,928 
361 < 720 days612,364 295 612,659 403,906 1,156 405,062 
> 720 days264,506 — 264,506 102,000 — 102,000 
3,325,898 437,177 3,763,075 2,437,440 273,171 2,710,611 
Installments overdue by
≤ 15 days32,692 9,369 42,061 13,714 2,297 16,011 
15 < 30 days15,764 3,463 19,227 10,513 1,705 12,218 
31 < 60 days32,744 7,620 40,364 14,353 2,357 16,710 
61 < 90 days33,415 6,312 39,727 13,716 2,180 15,896 
91 < 180 days76,304 18,389 94,693 30,079 5,831 35,910 
181 < 360 days64,343 26,562 90,905 20,855 8,063 28,918 
255,262 71,715 326,977 103,230 22,433 125,663 
 Credit portfolio, gross3,581,160 508,892 4,090,052 2,540,670 295,604 2,836,274 
F-17
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Notes to Unaudited interim condensed consolidated financial statements
September 30, 2026
(In thousands of Brazilian Reais)
5.4.3.    Gross carrying amount
The Group calculates an expected credit loss allowance for its loans based on statistical models that consider both internal and external historical data, negative credit information and guarantees, including information that addresses the behavior of each debtor. The Group divides its credit portfolio in three stages:
(i)Stage 1: corresponds to loans that do not present significant increase in credit risk since origination, and expected credit loss (“ECL") are determined considering probability of default events within 12 months window;
(ii)Stage 2: corresponds to loans that presented significant increase in credit risk subsequent to origination and ECL are estimated considering probability of default events within the life of the financial instrument;
The Group determines Stage 2 based on the following criteria:
(a)absolute criteria: financial asset overdue more than 30 days, or;
(b)relative criteria: in addition to the absolute criteria, the Group analyzes the evolution of the risk of each financial instrument on a monthly basis, comparing the current behavior score attributed to each client with that attributed at the time of recognition of the financial asset. Behavioral scoring considers credit behavior variables, such as default on other products and market data about the customer. When the credit risk increases significantly since origination, the Stage 1 operation is moved to Stage 2.
For Stage 2, a cure criterion is applied when the financial asset no longer meets the criteria for a significant increase in credit risk, as mentioned above, and the loan is moved to Stage 1.
(iii)Stage 3: corresponds to impaired loans.
The Group determines Stage 3 based on the following criteria:
(a)absolute criteria: financial asset overdue more than 90 days, or;
(b)relative criteria: indicators that the financial asset will not be paid in full without enforcing either a collateral or financial guarantee.
The indication that an obligation will not be paid in full includes the tolerance of financial instruments that imply the granting of advantages to the counterparty following the deterioration of the counterparty's credit quality.
The Group also assumes a cure criterion for Stage 3, with respect to the counterparty's repayment capacity, such as the percentage of total debt paid or the time limit to liquidate current debt obligations.
Management regularly seeks forward-looking perspectives for future market developments including macroeconomic scenarios as well as its portfolio risk profile. Management may adjust the ECL resulting from the models above in order to better reflect these forward-looking perspectives.
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Notes to Unaudited interim condensed consolidated financial statements
September 30, 2026
(In thousands of Brazilian Reais)
Reconciliation of gross portfolio of loans operations, segregated by stages:
Stage 1December 31, 2025Acquisition / (Settlement)Transfer to stage 2Transfer to stage 3Cure from stage 2Cure from stage 3Write-offSeptember 30, 2026
Merchant portfolio2,253,970 1,217,120 (755,577)(96,701)178,406 13,106 — 2,810,324 
Credit card263,610 228,336 (95,034)(14,202)27,683 7,307 — 417,700 
2,517,580 1,445,456 (850,611)(110,903)206,089 20,413 — 3,228,024 
Stage 2December 31, 2025Acquisition / (Settlement)Cure to
stage 1		Transfer to stage 3Transfer from stage 1Cure from stage 3Write-offSeptember 30, 2026
Merchant portfolio102,888 (24,005)(178,406)(422,196)755,577 16,058 — 249,916 
Credit card10,949 4,371 (27,683)(51,754)95,034 1,384 — 32,301 
113,837 (19,634)(206,089)(473,950)850,611 17,442 — 282,217 
Stage 3December 31, 2025Acquisition / (Settlement)Cure to
stage 1		Cure to
 stage 2		Transfer from stage 1Transfer from stage 2Write-offSeptember 30, 2026
Merchant portfolio183,812 (23,139)(13,106)(16,058)96,701 422,196 (129,486)520,920 
Credit card21,045 (1,885)(7,307)(1,384)14,202 51,754 (17,534)58,891 
204,857 (25,024)(20,413)(17,442)110,903 473,950 (147,020)579,811 
Consolidated 3 stagesDecember 31, 2025Acquisition / (Settlement)Write-offSeptember 30, 2026
Merchant portfolio2,540,670 1,169,976 (129,486)3,581,160 
Credit card295,604 230,822 (17,534)508,892 
2,836,274 1,400,798 (147,020)4,090,052 
Stage 1December 31,
2024		Acquisition / (Settlement)Transfer to stage 2Transfer to stage 3Cure from stage 2Cure from stage 3Write-offSeptember 30,
2025
Merchant portfolio993,719 1,034,315 (273,224)(24,160)88,991 8,980 — 1,828,621 
Credit card103,301 111,193 (29,147)(1,269)15,532 863 — 200,473 
1,097,020 1,145,508 (302,371)(25,429)104,523 9,843 — 2,029,094 
Stage 2December 31,
2024		Acquisition / (Settlement)Cure to
stage 1		Transfer to stage 3Transfer from stage 1Cure from stage 3Write-offSeptember 30,
2025
Merchant portfolio42,471 (14,197)(88,991)(109,303)273,224 5,920 — 109,124 
Credit card8,709 2,686 (15,532)(14,111)29,147 417 — 11,316 
51,180 (11,511)(104,523)(123,414)302,371 6,337 — 120,440 
Stage 3December 31,
2024		Acquisition / (Settlement)Cure to
stage 1		Cure to
stage 2		Transfer from stage 1Transfer from stage 2Write-offSeptember 30,
2025
Merchant portfolio57,285 (2,944)(8,980)(5,920)24,160 109,303 (39,770)133,134 
Credit card2,146 94 (863)(417)1,269 14,111 (1,189)15,151 
59,431 (2,850)(9,843)(6,337)25,429 123,414 (40,959)148,285 
Consolidated 3 stagesDecember 31, 2024Acquisition / (Settlement)Write-offSeptember 30, 2025
Merchant portfolio1,093,475 1,017,174 (39,770)2,070,879 
Credit card114,156 113,973 (1,189)226,940 
1,207,631 1,131,147 (40,959)2,297,819 
F-19
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Notes to Unaudited interim condensed consolidated financial statements
September 30, 2026
(In thousands of Brazilian Reais)
5.4.4.    Allowance for expected credit losses of loans operations
Stage 1December 31, 2025(Acquisition) / SettlementTransfer to stage 2Transfer to stage 3Cure from stage 2Cure from stage 3Write-offSeptember 30, 2026
Merchant portfolio(127,370)(412,387)369,345 76,522 (26,945)(2,277)— (123,112)
Credit card(23,577)(73,301)50,171 11,365 (5,534)(1,440)— (42,316)
(150,947)(485,688)419,516 87,887 (32,479)(3,717)— (165,428)
Stage 2December 31, 2025(Acquisition) / SettlementCure to
stage 1		Transfer to stage 3Transfer from stage 1Cure from stage 3Write-offSeptember 30, 2026
Merchant portfolio(52,348)(57,200)26,945 345,020 (369,345)(8,779)— (115,707)
Credit card(5,828)(13,357)5,534 46,454 (50,171)(684)— (18,052)
(58,176)(70,557)32,479 391,474 (419,516)(9,463)— (133,759)
Stage 3December 31, 2025(Acquisition) / SettlementCure to
stage 1		Cure to
stage 2		Transfer from stage 1Transfer from stage 2Write-offSeptember 30, 2026
Merchant portfolio(161,263)(843)2,277 8,779 (76,522)(345,020)129,486 (443,106)
Credit card(19,296)5,848 1,440 684 (11,365)(46,454)17,534 (51,609)
(180,559)5,005 3,717 9,463 (87,887)(391,474)147,020 (494,715)
Consolidated 3 stagesDecember 31, 2025(Acquisition) / SettlementWrite-offSeptember 30, 2026
Merchant portfolio(340,981)(470,430)129,486 (681,925)
Credit card(48,701)(80,810)17,534 (111,977)
(389,682)(551,240)147,020 (793,902)
Stage 1December 31,
2024		(Acquisition) / SettlementTransfer to stage 2Transfer to stage 3Cure from stage 2Cure from stage 3Write-offSeptember 30,
2025
Merchant portfolio(68,949)(176,874)134,884 15,271 (15,171)(1,061)— (111,900)
Credit card(7,805)(23,267)15,367 977 (2,857)(233)— (17,818)
(76,754)(200,141)150,251 16,248 (18,028)(1,294)— (129,718)
Stage 2December 31,
2024		(Acquisition) / SettlementCure to
 stage 1		Transfer to stage 3Transfer from stage 1Cure from stage 3Write-offSeptember 30,
2025
Merchant portfolio(19,587)7,390 15,171 76,447 (134,884)(2,955)— (58,418)
Credit card(3,870)540 2,857 9,635 (15,367)(218)— (6,423)
(23,457)7,930 18,028 86,082 (150,251)(3,173)— (64,841)
Stage 3December 31,
2024		(Acquisition) / SettlementCure to
stage 1		Cure to
stage 2		Transfer from stage 1Transfer from stage 2Write-offSeptember 30,
2025
Merchant portfolio(42,717)(10,218)1,061 2,955 (15,271)(76,447)39,770 (100,867)
Credit card(1,584)(215)233 218 (977)(9,635)1,189 (10,771)
(44,301)(10,433)1,294 3,173 (16,248)(86,082)40,959 (111,638)
Consolidated 3 stagesDecember 31,
2024		(Acquisition) / SettlementWrite-offSeptember 30,
2025
Merchant portfolio(131,253)(179,702)39,770 (271,185)
Credit card(13,259)(22,942)1,189 (35,012)
(144,512)(202,644)40,959 (306,197)
F-20
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Notes to Unaudited interim condensed consolidated financial statements
September 30, 2026
(In thousands of Brazilian Reais)
5.5.    Financial assets from banking solutions
As required by Brazilian Central Bank (“BACEN”) regulation, client’s proceeds deposited in payment accounts (“Deposits from retail clients” - Note 5.6.1) must be fully collateralized by government securities, and/or deposits at BACEN (Electronic Money Correspondent Account - “CCME”).
Time deposits from retail clients (Note 5.6.1) and Time Deposits (Note 5.6.2) are subject to compulsory deposit at BACEN based on the amount of such time deposits.
As of September 30, 2026 the amount of financial assets from banking solutions was R$ 640,848 (December 31, 2025 - R$ 1,855,796), of which R$ 592,058 was fully collateralized by CCME (December 31, 2025 R$ 1,110,809) and R$ 48,790 (December 31, 2025 - R$ 744,987) by compulsory deposits.
5.6.    Financial liabilities
5.6.1. Retail deposits
September 30, 2026December 31, 2025
Deposits from retail clients1,013,114 1,543,359 
Deposits in payment accounts512,534 994,878 
Deposits in accounts of record (a)
500,580 548,481 
Time deposits from retail clients (b) (c)
10,375,779 9,547,626 
11,388,893 11,090,985 
(a)This includes balances and transaction values in transit (register accounts) relating to sub-acquirer transactions.
(b)Balances held in payment accounts are eligible to be automatically invested daily in Time Deposits issued by Stone SCFI. In addition, Stone SCFI also started to issue time deposits held by multiple counterparties, further detailed in Note 5.6.2 (b).
(c)Deposit interest rates are set as a % of CDI and are applied daily or monthly from the deposit date, following the First In, First Out (“FIFO”) method.
5.6.2. Changes in financial liabilities
The table below presents the movement of financial liabilities other than Retail deposits:
December 31, 2025AdditionsPayment of principalPayment of interestChanges in exchange ratesInterest September 30, 2026
Bonds1,120,767 — (1,271)(24,268)(66,557)40,677 1,069,348 
Debentures, financial bills and commercial papers (a)
5,814,524 2,167,750 (1,358,450)(258,415)— 668,126 7,033,535 
Time deposits (b)
2,985,235 3,507,129 (4,567,002)(235,348)— 171,130 1,861,144 
Obligations to open-end FIDC quota holders (c)
434,950 — (339,641)(111,770)— 16,461 — 
Institutional deposits and marketable debt securities10,355,476 5,674,879 (6,266,364)(629,801)(66,557)896,394 9,964,027 
Current5,777,314 6,015,428 
Non-current4,578,162 3,948,599 
F-21
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Notes to Unaudited interim condensed consolidated financial statements
September 30, 2026
(In thousands of Brazilian Reais)
December 31, 2025AdditionsDisposalsPayment of principalPayment of interestChanges in exchange ratesFair value adjustmentInterestSeptember 30, 2026
Obligations to closed-end FIDC quota holders (d)
2,196,269 — — — (286,494)— (2,989)213,060 2,119,846 
Bank borrowings and working capital facilities4,860,940 580,804 — (545,146)(126,543)(263,352)(17,311)233,615 4,723,007 
Leases169,380 17,134 (24,117)(38,932)(10,182)(1,385)— 10,182 122,080 
Other debt instruments7,226,589 597,938 (24,117)(584,078)(423,219)(264,737)(20,300)456,857 6,964,933 
Current2,866,445 4,185,559 
Non-current4,360,144 2,779,374 
(a)The subsidiary Stone SCFI issues private financial bills. The principal and interest of all issuances are mainly paid at the maturity indexed to CDI rate.
(b)Stone SCFI issues Time deposits indexed to the CDI rate. The certificates are held by multiple counterparties and maturities up to September 2027. The principal and interest of this type of issuance are mainly paid at the maturity date.
(c)The FIDC ACR FAST fund was liquidated and fully wound up during the period.
(d)This note covers the closed-end FIDC ACR I. FIDC ACR I issued quotas in exchange for a contribution of R$ 2,325,984. The contribution was made by a special purpose vehicle (“SPV”) funded by a revolving facility in which United States International Development Finance Corporation (“DFC”) has invested US$ 467.5 million, funding the Group’s prepayment business through this FIDC. The SPV entered into foreign currency derivatives with financial institutions to convert the receivable denominated in R$ it holds from FIDC ACR I into US$. The Company acts as a guarantor for derivative instruments (hedges) entered into by SPV. Under the terms of the ISDA Master Agreements, StoneCo guarantees SPV’s obligations to financial institutions in the event of certain defined default events of the SPV. FIDC ACR I has a final maturity of seven years and pays a semi-annual coupon at a fixed rate of 12.75% in R$.
December 31, 2024AdditionsPayment of principalPayment of interestChanges in exchange ratesInterestSeptember 30, 2025
Bonds1,258,262 — — (26,439)(181,153)43,836 1,094,506 
Debentures, financial bills and commercial papers4,079,266 1,979,045 (718,472)(174,171)— 522,941 5,688,609 
Time deposits2,740,110 2,749,701 (2,612,420)(130,094)— 302,569 3,049,866 
Obligations to open-end FIDC quota holders418,324 48,309 (78,137)(3,219)— 41,620 426,897 
Institutional deposits and marketable debt securities8,495,962 4,777,055 (3,409,029)(333,923)(181,153)910,966 10,259,878 
Current3,065,999 4,573,845 
Non-current5,429,963 5,686,033 
December 31, 2024AdditionsDisposalsPayment of principalPayment of interestChanges in exchange ratesFair value adjustmentInterestLiabilities associated with assets held for saleSeptember 30, 2025
Obligations to closed-end FIDC quota holders1,988,645 18,312 — — (285,352)— 179,597 214,021 — 2,115,223 
Bank borrowings and working capital facilities2,164,330 3,925,583 — (2,210,186)(92,202)(326,946)(192)135,914 — 3,596,301 
Leases247,004 48,083 (22,124)(63,810)(14,681)(4,389)— 14,681 (20,588)184,176 
Other debt instruments4,399,979 3,991,978 (22,124)(2,273,996)(392,235)(331,335)179,405 364,616 (20,588)5,895,700 
Current1,903,840 3,058,179 
Non-current2,496,139 2,837,521 
F-22
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Notes to Unaudited interim condensed consolidated financial statements
September 30, 2026
(In thousands of Brazilian Reais)
5.7.    Derivative financial instruments, net
The Group executes exchange-traded and Over-the-counter (“OTC”) derivative instruments to hedge its foreign currency and interest rate exposure. All counterparties are previously approved for OTC transactions following the Counterparties and Investments Policy and related internal standards, and internal Committees monitor and control the counterparty risk associated with those transactions.
September 30, 2026
Notional amountAsset
(fair value)		Liabilities
(fair value)		Net
Cash flow hedge
Cross-currency interest rate swap2,484,079 — (164,815)(164,815)
Fair value hedge
Interest rate swap7,413,857 16,782 (139,086)(122,304)
Cross-currency interest rate swap4,157,219 — (432,558)(432,558)
Economic hedge
Non-Deliverable Forward ("NDF")82,500 12,110 (15,619)(3,509)
Interest rate swap15,162,056 5,430 (11,298)(5,868)
M&A derivatives
Call options— 2,391 — 2,391 
29,299,711 36,713 (763,376)(726,663)
Current(431,861)
Non-current(294,802)
December 31, 2025
Notional amountAsset
(fair value)		Liabilities
(fair value)		Net
Cash flow hedge
Cross-currency interest rate swap2,772,711 10,524 (73,953)(63,429)
Fair value hedge
Interest rate swap4,539,558 2,083 (139,577)(137,494)
Cross-currency interest rate swap3,868,296 — (6,622)(6,622)
Economic hedge
Non-Deliverable Forward ("NDF")422,085 50,717 (49,954)763 
Interest rate swap14,912,100 4,574 (931)3,643 
M&A derivatives
Call options— 2,120 — 2,120 
26,514,750 70,018 (271,037)(201,019)
Current(36,317)
Non-current(164,702)
F-23
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Notes to Unaudited interim condensed consolidated financial statements
September 30, 2026
(In thousands of Brazilian Reais)
5.7.1. Economic hedge
The Group engages in certain hedging transactions to mitigate specific financial risks, such as fluctuations in foreign currencies and interest rates. Some of these transactions are not formally designated for hedge accounting.
Although these derivatives are used to manage economic risks, changes in their fair value are recognized directly in profit or loss for the period without the application of the specific accounting treatments of hedge accounting. This means that the gains and losses generated by these instruments are fully accounted for in profit or loss as they occur, reflecting changes in the fair value of the derivatives.
The decision not to apply hedge accounting to these transactions is due to considerations such as the administrative cost of the formal documentation required by hedge accounting standards, the nature of the instruments, or the desired operational flexibility. Nevertheless, the Group continues monitoring these instruments to ensure their use aligns with the overall risk management strategy.
5.7.2. Hedge accounting
5.7.2.1. Cash flow hedge
The Group enters into derivative financial instruments to hedge exposures to foreign exchange and interest rate risks.
The Group applies cash flow hedge accounting when the hedging relationship meets the requirements outlined in the applicable accounting standards, including the provision of appropriate documentation at inception and the expectation that the hedge will be highly effective in offsetting changes in cash flows attributable to the hedged risk throughout the life of the hedge.
The Group continuously assesses whether the hedging relationship continues to meet the effectiveness requirements.
Changes in the fair value of the hedging instrument are recognized in other comprehensive income (and deferred in equity), to the extent the hedge is effective. Any ineffectiveness in a hedge is recognized immediately in profit or loss. Amounts deferred in equity are reclassified to profit or loss when the hedged item affects profit or loss (e.g., through the accrual of interest or the remeasurement of the hedged item at spot rate on the reporting date).
5.7.2.2. Fair value hedge
The Group applies fair value hedge accounting to protect against changes in the fair value of assets or liabilities arising from exposure to specific risks, such as changes in foreign exchange rates or interest rates. In accordance with IFRS, changes in the fair value of the hedging instrument and the hedged item attributable to the designated hedged risk are recognized directly in profit or loss for the period. This allows gains or losses on the hedging instrument to offset, in whole or in part, the losses or gains on the hedged item.    
For a fair value hedge to qualify as hedge accounting, the hedging relationship must meet specific criteria, such as formal documentation of the hedging objective and evidence that the hedge is highly effective in offsetting changes in the hedged item's fair value over time.
The Group conducts regular effectiveness tests to ensure the hedging relationship remains effective. Any hedge ineffectiveness is immediately recognized in profit or loss for the period.
F-24
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Notes to Unaudited interim condensed consolidated financial statements
September 30, 2026
(In thousands of Brazilian Reais)
5.7.3. Breakdown by maturity
The table below shows the breakdown by maturity of the notional amounts and fair values:
September 30, 2026
Less than 3 months3 to 12 monthsMore than 12 monthsTotal
Notional
Cross-currency interest rate swap2,204,474 1,952,745 2,484,079 6,641,298 
Interest rate swap9,495,696 8,383,659 4,696,558 22,575,913 
NDF72,171 10,329 — 82,500 
11,772,341 10,346,733 7,180,637 29,299,711 
Asset (fair value)
Interest rate swap4,763 9,907 7,542 22,212 
NDF12,110 — — 12,110 
Liability (fair value)
Cross-currency interest rate swap(291,770)(140,788)(164,815)(597,373)
Interest rate swap(3,650)(9,205)(137,529)(150,384)
NDF(14,807)(812)— (15,619)
(293,354)(140,898)(294,802)(729,054)
December 31, 2025
Less than 3 months3 to 12 monthsMore than 12 monthsTotal
Notional
Cross-currency interest rate swap288,940 2,496,356 3,855,711 6,641,007 
Interest rate swap9,438,800 6,472,000 3,540,858 19,451,658 
NDF422,085 — — 422,085 
10,149,825 8,968,356 7,396,569 26,514,750 
Asset (fair value)
Cross-currency interest rate swap— — 10,524 10,524 
Interest rate swap1,529 4,188 940 6,657 
NDF50,717 — — 50,717 
Liability (fair value)
Cross-currency interest rate swap(38,102)(5,039)(37,434)(80,575)
Interest rate swap(1,186)(590)(138,732)(140,508)
NDF(49,954)— — (49,954)
(36,996)(1,441)(164,702)(203,139)
5.8.    Financial risk management
The Group’s activities expose it to market, liquidity and credit risks.
The Financial risk is managed by the risk area.
F-25
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Notes to Unaudited interim condensed consolidated financial statements
September 30, 2026
(In thousands of Brazilian Reais)
The Board of Directors has approved the policies that establish the Group's financial risk management framework. The approval of exposure limits and of financial transactions is delegated to management, at different levels depending on the nature of the transactions and the type of risk involved, in accordance with the Group's delegation of authority standards. The Group uses financial derivatives only to mitigate market risk exposures, and its policy is not to engage in derivatives for speculative purposes.
5.9.    Financial instruments by category
5.9.1.    Financial assets by category
Amortized costFVPLFVOCITotal
September 30, 2026
Short and Long-term investments— 1,307,966 — 1,307,966 
Financial assets from banking solutions640,848 — — 640,848 
Accounts receivable from card issuers— — 40,812,837 40,812,837 
Trade accounts receivable336,034 — — 336,034 
Credit portfolio(a)
3,293,152 — — 3,293,152 
Derivative financial instruments(b)
— 36,713 — 36,713 
Other assets175,011 — — 175,011 
4,445,045 1,344,679 40,812,837 46,602,561 
December 31, 2025
Short and Long-term investments— 1,143,722 — 1,143,722 
Financial assets from banking solutions1,855,796 — — 1,855,796 
Accounts receivable from card issuers— — 41,421,964 41,421,964 
Trade accounts receivable244,375 — — 244,375 
Credit portfolio(a)
2,446,816 — — 2,446,816 
Derivative financial instruments(b)
— 70,018 — 70,018 
Other assets184,416 — — 184,416 
4,731,403 1,213,740 41,421,964 47,367,107 
(a)Part of the credit portfolio in the amount as of September 30, 2026 R$ 3,187,900 (December 31, 2025 R$ 1,413,600) was designated as the hedged item in a fair value hedge. Therefore, the carrying amount includes the change in fair value of the hedged portfolio attributed to changes in the designated hedged risk.
(b)Derivative financial instruments recognized as assets in the amount of R$ nil as of September 30, 2026 (R$ 10,524 as of December 31, 2025) were designated as cash flow hedges and, therefore, the effective portion of the hedge is recognized in OCI.
F-26
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Notes to Unaudited interim condensed consolidated financial statements
September 30, 2026
(In thousands of Brazilian Reais)
5.9.2.    Financial liabilities by category
Amortized costFVPLTotal
September 30, 2026
Retail deposits11,388,893 — 11,388,893 
Accounts payable to clients17,886,887 — 17,886,887 
Trade accounts payable887,250 — 887,250 
Institutional deposits and marketable debt securities9,964,027 — 9,964,027 
Other debt instruments420,992 6,543,941 6,964,933 
Derivative financial instruments(a)
— 763,376 763,376 
Other liabilities(b)
200,148 290,440 490,588 
40,748,197 7,597,757 48,345,954 
December 31, 2025
Retail deposits11,090,985 — 11,090,985 
Accounts payable to clients18,154,347 — 18,154,347 
Trade accounts payable848,341 — 848,341 
Institutional deposits and marketable debt securities10,355,476 — 10,355,476 
Other debt instruments479,898 6,746,691 7,226,589 
Derivative financial instruments(a)
— 271,037 271,037 
Other liabilities(b)
249,053 230,738 479,791 
41,178,100 7,248,466 48,426,566 
(a)Derivative financial instruments recognized as liabilities in the amount of R$ 164,815 as of September 30, 2026 (R$ 73,953 as of December 31, 2025) were designated as cash flow hedges and, therefore, the effective portion of the hedge is recognized in OCI.
(b)Other liabilities measured at FVPL refer to put options and contingent consideration.
5.10.    Fair value measurement
5.10.1.    Assets and liabilities by fair value hierarchy
The following table shows an analysis of financial instruments measured at fair value by level of the fair value hierarchy:
F-27
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Notes to Unaudited interim condensed consolidated financial statements
September 30, 2026
(In thousands of Brazilian Reais)
September 30, 2026December 31, 2025
Fair valueHierarchy levelFair valueHierarchy level
Assets measured at fair value
Short and Long-term investments(a) (b)
1,307,966 I /II1,143,722 I /II
Accounts receivable from card issuers(c)
40,812,837 II41,421,964 II
Derivative financial instruments(d)
36,713 II70,018 II
42,157,516 42,635,704 
Liabilities measured at fair value
Other debt instruments(e)
6,543,941 II6,746,691 II
Derivative financial instruments(d)
763,376 II271,037 II
Other liabilities(f) (g)
290,440 III230,738 III
7,597,757 7,248,466 
(a)Listed securities are classified as Level I and unlisted securities classified as Level II, determining fair value using valuation techniques, which employ the use of market observable inputs.
(b)Sovereign bonds are priced using quotations from Brazilian Association of Financial and Capital Market Entities (“Anbima”) public pricing method.
(c)For accounts receivable from card issuers measured at FVOCI, fair value is estimated by discounting future cash flows using market rates for similar items.
(d)The Group enters into derivative financial instruments with financial institutions with investment grade credit ratings. Derivative financial instruments are valued using valuation techniques, which employ the use of observable market inputs.
(e)For Other debt instruments, fair value is estimated by discounting future cash flows using contract rates for funding items and using market value of senior quotas liabilities.
(f)These are contingent considerations included in Other liabilities arising on business combinations that are measured at FVPL. Fair values are estimated in accordance with pre-determined formulas explicit in the contracts with selling shareholders. The significant unobservable inputs used in the fair value measurement of contingent consideration categorized as Level III of the fair value hierarchy are based on projections of revenue, net debt, number of clients, net margin and the discount rates used to evaluate the liability.
(g)The Group issued put options for Reclame Aqui’s non-controlling interests, in the 2022 business combination. For the non-controlling shareholder amounts the Group has elected as an accounting policy that the put options derecognized the non-controlling interests at each reporting date as if it was acquired at that date and recognize a financial liability at the present value of the amount payable on exercise of the non-controlling interests put option. The difference between the financial liability and the non-controlling interests derecognized at each period is recognized as an equity transaction. The amount of R$ 289,618 was recorded in the consolidated statement of financial position as of September 30, 2026 as a financial liability under Other liabilities (December 31, 2025 - R$ 170,299).
In the nine months ended September 30, 2026 and 2025, there were no transfers between level I and level II and between level II and level III fair value measurements.
F-28
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Notes to Unaudited interim condensed consolidated financial statements
September 30, 2026
(In thousands of Brazilian Reais)
5.10.2.    Fair value of financial instruments not measured at fair value
The table below presents a comparison by class between book value and fair value of the financial instruments of the Group, other than those with carrying amounts that are reasonable approximations of fair values:
September 30, 2026December 31, 2025
Book valueFair valueBook valueFair value
Financial assets
Credit portfolio
3,293,152 3,252,919 2,446,816 2,439,204 
3,293,152 3,252,919 2,446,816 2,439,204 
Financial liabilities
Accounts payable to clients17,886,887 16,347,358 18,154,347 16,774,075 
Institutional deposits and marketable debt securities9,964,027 9,849,663 10,355,476 10,098,587 
Other debt instruments299,963 288,933 311,916 306,875 
28,150,877 26,485,954 28,821,739 27,179,537 
6.    Other assets
September 30, 2026December 31, 2025
Financial assets
Suppliers advances72,519 49,394 
Receivables from the sale of associates and subsidiaries (a)
39,735 76,398 
Security deposits1,954 3,350 
Convertible loans28,156 28,636 
Judicial deposits23,947 16,652 
Other financial assets8,700 9,986 
175,011 184,416 
Non-financial assets
Prepaid expenses (b)
257,272 132,039 
Customer deferred acquisition costs218,679 200,179 
Salary advances55,986 11,969 
Other non-financial assets24,373 10,586 
556,310 354,773 
731,321 539,189 
Current504,484 372,634 
Non-current226,837 166,555 
(a)Refers to balances receivable from buyers for the sale of the equity interest in Simplesvet and Pinpag.
F-29
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Notes to Unaudited interim condensed consolidated financial statements
September 30, 2026
(In thousands of Brazilian Reais)
(b)Prepaid expenses include, among others, software licenses, marketing expenses, and other services and taxes such as property taxes, insurance, and consulting fees. The amount recognized as an asset on the balance sheet is expensed to the income statement as the prepaid services are consumed by the Group. As of September 30, 2026, the balance was mainly composed of: Software licenses of R$ 122,035 (December 31, 2025 - R$ 113,167), FGC (Credit Guarantee Fund) of R$ 102,379 (December 31, 2025 – R$ nil), media expenses of R$ 753 (December 31, 2025 - R$ 7,490) and other prepaid expenses of R$ 32,105 (December 31, 2025 – R$ 11,382).
7.    Recoverable taxes
September 30, 2026December 31, 2025
Withholding income tax on financial income(a)
421,324 544,298 
Income tax and social contribution60,883 143,472 
Contributions over revenue7,305 — 
Other withholding income tax2,086 1,658 
Other taxes 1,657 857 
493,255 690,285 
(a)Refers to income taxes withheld on financial income, offset against current Income Tax (“IRPJ”) and the Social Contribution on Net Income (“CSLL”) liabilities of the period.
F-30
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Notes to Unaudited interim condensed consolidated financial statements
September 30, 2026
(In thousands of Brazilian Reais)
8.    Income taxes
The Company is headquartered in the Cayman Islands and there is no income tax in that jurisdiction. Some of the income earned by the Company is related to transactions abroad which are subject to a 15% rate of withholding tax.
8.1. Reconciliation of income tax expense
Considering the fact that the Company is an entity located in the Cayman Islands which has no income tax, for the purpose of the following reconciliation of income tax expense to profit (loss) for the periods ended September 30, 2026 and 2025, as Brazil is the jurisdiction in which most of the Group’s transactions takes place, the combined Brazilian statutory income tax rate at 36.00% was applied. The statutory rate has been computed as the average of the statutory rates effective during each month of the period.
In Brazil such combined rate is applied, in general, to all entities and comprises the Corporate IRPJ and CSLL on the taxable income of each Brazilian legal entity (not on a consolidated basis).
F-31
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Notes to Unaudited interim condensed consolidated financial statements
September 30, 2026
(In thousands of Brazilian Reais)
Nine months ended September 30,Three months ended September 30,
2026202520262025
Profit before income taxes from continuing operations1,738,796 2,120,195 622,190 800,859 
Brazilian statutory rate (a)
36.00%34.00%37.00%34.00%
Tax income (expense) at the statutory rate(625,967)(720,866)(230,210)(272,292)
Tax effect of income (expense) that are not taxable (deductible) for tax purposes:
Recognition of deferred tax asset on tax goodwill recognized on acquisition of Linx (Note 8.3)
1,242,596 — — — 
Profit from entities subject to different tax rates280,555 207,021 79,629 86,347 
Research and development tax benefits ("Lei do Bem")55,863 93,787 48,963 35,158 
Changes in deferred taxes as a result of an increase in CSLL rates (a)
48,265 — 3,557 — 
Use of previously unrecognized tax losses4,948 — 1,516 (137)
Unrecognized deferred income tax in the period985 (1,387)492 (942)
Interest payments on net equity— 26,214 — 26,214 
Recognition of deferred income tax unrecognized in previous periods— 34,019 — — 
Equity pickup on associates 171 (452)398 (268)
Other permanent differences 13,372 5,454 3,394 (5,999)
Other tax incentives 1,342 3,005 781 (795)
1,022,130 (353,205)(91,480)(132,714)
Effective tax rate(58.8%)16.7%14.7%16.6%
Current income tax and social contribution(522,632)(453,712)(77,357)(155,040)
Deferred income tax and social contribution1,544,762 100,507 (14,123)22,326 
1,022,130 (353,205)(91,480)(132,714)
(a)Complementary Law No. 224/2025 provided for an increase in the CSLL rates applicable to Stone IP and Stone SCD from 9% to 12% for the period from April 1, 2026 to December 31, 2027, and to 15% effective January 1, 2028. For Stone SCFI, the CSLL rate will increase from 15% to 17.5% for the period from April 1, 2026 to December 31, 2027, and to 20% effective January 1, 2028. This results in a total Brazilian income tax rate for our key businesses of 34% up to March 31, 2026, 37% as from April 1, 2026, and 40% as from January 1, 2028. The Brazilian statutory rate for the nine months ended September 30, 2026 has been computed as the simple average of the statutory rate ruling at each month of the period.
F-32
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Notes to Unaudited interim condensed consolidated financial statements
September 30, 2026
(In thousands of Brazilian Reais)
8.2.    Deferred income taxes by nature
December 31, 2025Recognized in OCIRecognized in profit or lossSeptember 30, 2026
Tax deductible goodwill (Note 8.3)— — 1,149,067 1,149,067 
Losses available for offsetting against future taxable income244,037 — 308,299 552,336 
Financial assets at FVOCI415,468 (9,325)— 406,143 
Share-based compensation185,417 — (19,000)166,417 
Technological innovation benefit(2,805)— 1,096 (1,709)
Intangible assets and property and equipment arising from business combinations(21,041)— (8,130)(29,171)
Temporary differences under FIDC(310,805)— 3,396 (307,409)
Other temporary differences436,743 4,647 110,034 551,424 
Deferred tax, net947,014 (4,678)1,544,762 2,487,098 
December 31, 2024Recognized against other comprehensive incomeRecognized against profit or lossTransfer to
assets held for
sale		September 30, 2025
Assets at FVOCI219,817 147,561 — — 367,378 
Losses available for offsetting against future taxable income302,921 — 42,209 (72,390)272,740 
Share-based compensation160,248 — 16,226 — 176,474 
Tax deductible goodwill5,010 — (5,010)— — 
Contingencies arising from business combinations40,192 — (1,651)(38,541)— 
Technological innovation benefit(4,128)— 435 — (3,693)
Intangible assets and property and equipment arising from business combinations(638,728)— 27,543 590,810 (20,375)
Temporary differences under FIDC(279,305)— (19,604)— (298,909)
Other temporary differences384,941 (10,285)47,933 (44,077)378,512 
Deferred tax, net190,968 137,276 108,081 435,802 872,127 
8.3.    Unrecognized deferred taxes
The Group has accumulated tax loss carryforwards and other temporary differences in some subsidiaries in the amount of R$ 142,411 (December 31, 2025 – R$ 1,431,023) for which a deferred tax asset was not recognized and are available indefinitely for offsetting against future taxable profits to the companies in which the losses arose. Deferred tax assets have not been recognized with respect of these losses as they cannot be used to offset taxable profits between subsidiaries of the Group, and there is no other evidence of recoverability in the near future. In the nine months ended September 30, 2026, R$ 1,242,596 of deferred tax on goodwill were recognized considering the Group’s current ability and expectations to recover them considering their tax amortization period.
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Notes to Unaudited interim condensed consolidated financial statements
September 30, 2026
(In thousands of Brazilian Reais)
9.    Property and equipment
9.1.    Changes in Property and equipment
December 31, 2025AdditionsDisposalsTransfersEffects of changes in foreign exchange ratesSeptember 30, 2026
Cost
Pin Pads & POS2,992,427 473,498 (285,973)— — 3,179,952 
IT equipment219,151 15,853 (98)7,979 (19)242,866 
Facilities37,664 2,043 (70)2,381 558 42,576 
Machinery and equipment16,034 4,127 (108)— (156)19,897 
Furniture and fixtures21,645 295 (466)— — 21,474 
Vehicles and airplane705 — (574)— (1)130 
Construction in progress43,277 9,576 (2,533)(10,379)31 39,972 
Right-of-use assets - equipment4,626 — — — — 4,626 
Right-of-use assets - vehicles39,503 4,381 (15,465)— — 28,419 
Right-of-use assets - offices171,092 12,753 (55,417)(342)265 128,351 
3,546,124 522,526 (360,704)(361)678 3,708,263 
Depreciation
Pin Pads & POS(1,557,854)(432,156)213,806 — — (1,776,204)
IT equipment(155,615)(21,981)26 55 (448)(177,963)
Facilities(7,704)(6,642)25 — (584)(14,905)
Machinery and equipment(15,351)(4,081)5 — 1,351 (18,076)
Furniture and fixtures(6,208)(1,731)37 — (103)(8,005)
Vehicles and airplane(422)(33)376 — (6)(85)
Right-of-use assets - equipment(951)— — — — (951)
Right-of-use assets - vehicles(20,271)(9,978)13,180 — — (17,069)
Right-of-use assets - offices(56,242)(19,919)35,959 306 (258)(40,154)
(1,820,618)(496,521)263,414 361 (48)(2,053,412)
Property and equipment, net1,725,506 26,005 (97,290)— 630 1,654,851 
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Notes to Unaudited interim condensed consolidated financial statements
September 30, 2026
(In thousands of Brazilian Reais)
December 31, 2024AdditionsDisposalsTransfersEffects of hyperinflationEffects of changes in foreign exchange ratesBusiness combinationTransfer to assets held for saleSeptember 30, 2025
Cost
Pin Pads & POS2,933,852 486,465 (112,473)— — — — (3,009)3,304,835 
IT equipment300,786 24,365 (2,677)375 (88)(155)194 (111,219)211,581 
Facilities103,227 6,378 (486)50 — (3)73 (70,641)38,598 
Machinery and equipment23,452 3,642 (697)(168)— (37)— (10,289)15,903 
Furniture and fixtures26,378 1,626 (92)814 — (9)231 (8,238)20,710 
Vehicles and airplane27,479 189 (26,542)— (187)99 — (333)705 
Construction in progress29,687 16,277 — (1,071)— 584 2 — 45,479 
Right-of-use assets - equipment4,683 — (57)— — — — — 4,626 
Right-of-use assets - vehicles21,073 21,260 (2,385)— — 77 — — 40,025 
Right-of-use assets - offices243,423 26,808 (32,659)— — (576)— (59,672)177,324 
3,714,040 587,010 (178,068)— (275)(20)500 (263,401)3,859,786 
Depreciation
Pin Pads & POS(1,510,032)(453,411)89,424 — — — — 3,287 (1,870,732)
IT equipment(199,531)(34,294)1,921 (20)38 (153)(154)85,185 (147,008)
Facilities(43,638)(12,598)325 — 2 2 (37)50,230 (5,714)
Machinery and equipment(20,702)(5,182)341 20 38 1,973 (2)9,092 (14,422)
Furniture and fixtures(9,171)(1,983)53 — 12 125 (102)5,790 (5,276)
Vehicles and airplane(8,540)(1,356)9,185 — — (16)— 467 (260)
Right-of-use assets - equipment(1,006)(2)57 — — — — — (951)
Right-of-use assets - vehicles(9,757)(9,391)2,124 — — — — — (17,024)
Right-of-use assets - offices(77,666)(32,051)15,763 — 88 113 — 39,499 (54,254)
(1,880,043)(550,268)119,193 — 178 2,044 (295)193,550 (2,115,641)
Property and equipment, net1,833,997 36,742 (58,875)— (97)2,024 205 (69,851)1,744,145 
9.2.    Depreciation and amortization charges
Depreciation and amortization expense has been charged in the following line items of the consolidated statement of profit or loss:
Nine months ended September 30,Three months ended September 30,
2026202520262025
Cost of services592,004 564,779 196,008 194,868 
Administrative expenses74,857 78,969 25,843 27,336 
Selling expenses23,768 27,120 5,417 9,514 
Depreciation and amortization from continuing operations690,629 670,868 227,268 231,718 
Depreciation and amortization from discontinued operations— 90,439 — 301 
Depreciation and amortization charges690,629 761,307 227,268 232,019 
Depreciation charge496,521 550,268 163,246 184,146 
Amortization charge194,108 211,039 64,022 47,873 
Depreciation and amortization charges690,629 761,307 227,268 232,019 
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Notes to Unaudited interim condensed consolidated financial statements
September 30, 2026
(In thousands of Brazilian Reais)
10.    Intangible assets
10.1.    Changes in Intangible assets
 
December 31, 2025AdditionsDisposalsTransfersEffects of changes in foreign exchange ratesSeptember 30, 2026
Cost
Goodwill - acquisition of subsidiaries671,380 — — — — 671,380 
Customer relationship175,027 — (2,054)— — 172,973 
Trademarks and patents319,807 — — — — 319,807 
Software1,144,694 45,094 (4,464)336,636 — 1,521,960 
Service and operating rights16,418 — — — — 16,418 
Software in progress402,219 226,034 (27,179)(336,636)— 264,438 
Right-of-use assets - software65,400 — (33,553)— — 31,847 
2,794,945 271,128 (67,250)— — 2,998,823 
Amortization
Customer relationships(143,124)(7,269)1,058 — — (149,335)
Trademarks and patents(32,143)(7,050)— — — (39,193)
Software(593,772)(166,735)3,913 — 45 (756,549)
Right-of-use assets - software(38,971)(13,054)33,553 — — (18,472)
(808,010)(194,108)38,524 — 45 (963,549)
Intangible assets, net1,986,935 77,020 (28,726)— 45 2,035,274 
December 31, 2024AdditionsDisposalsTransfersEffects of hyperinflationEffects of changes in foreign exchange ratesBusiness combinationTransfer to assets held for saleSeptember 30, 2025
Cost
Goodwill - acquisition of subsidiaries2,078,115 — (12,633)— — (1,084)8,342 (1,398,106)674,634 
Customer relationships1,795,256 3,927 (6,826)(5,343)— — — (1,613,599)173,415 
Trademarks and patents541,237 3 — — — — — (221,437)319,803 
Software1,419,762 100,992 (19,086)186,878 79 (1,601)2,334 (769,363)919,995 
Non-compete agreement26,024 — — — — — — (26,024)— 
Software in progress505,014 226,830 (1,696)(181,535)— — — (17,171)531,442 
Service and operating rights— 16,418 — — — — — — 16,418 
Right-of-use assets - Software82,829 1 (351)— — — — — 82,479 
6,448,237 348,171 (40,592)— 79 (2,685)10,676 (4,045,700)2,718,186 
Amortization
Customer relationships(403,324)(35,751)4,836 6,539 — (617)— 286,444 (141,873)
Trademarks and patents(26,270)(7,050)— — — 8 — 3,521 (29,791)
Software(510,936)(146,850)12,612 (6,539)— 56 — 107,816 (543,841)
Non-compete agreement(17,706)(2,436)— — — — — 20,142 — 
Right-of-use assets - Software(31,899)(18,952)197 — — 675 — (227)(50,206)
(990,135)(211,039)17,645 — — 122 — 417,696 (765,711)
Intangible assets net5,458,102 137,132 (22,947)— 79 (2,563)10,676 (3,628,004)1,952,475 
11.    Transactions with related parties
Related parties comprise the Group’s parent companies, key management personnel and any businesses which are controlled, directly or indirectly, by the founders, officers and directors or over which they exercise significant management influence. Related party transactions are entered in the normal course of business at prices and terms approved by the Group’s management.
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Notes to Unaudited interim condensed consolidated financial statements
September 30, 2026
(In thousands of Brazilian Reais)
The following transactions were carried out with associates and other related parties:
Nine months ended September 30,Three months ended September 30,
2026202520262025
Sales of services
Associates (legal and administrative services)(a)
3 2 1 2 
3 2 1 2 
Purchases of goods and services
Associates (transaction services)(b)
(1,816)(1,780)(799)(623)
(1,816)(1,780)(799)(623)
(a)Related to services provided to Dental Office, whose equity interest held by the Group was sold on April 30, 2026, Delivery Much in 2026 and 2025, and APP in 2025.
(b)Mainly related to expenses paid to Tablet Cloud, Gyramais and Dental Office in 2026 and 2025, and App, in 2025, for consulting services, marketing expenses, sales commissions, and software licenses associated with new customer acquisition.
Services provided to related parties include servicing the financial assets, legal and administrative services provided under normal trade terms and reimbursement of other expenses incurred in their respect.
The Company undertakes certain regulatory reporting obligations on behalf of its directors and officers, at no cost to them.
12.    Provision for contingencies
The Group’s companies are party to labor, civil and tax litigation in progress mainly in Brazil, which are being addressed at the administrative and judicial levels. For certain contingencies, the Group has made judicial deposits, which are legal reserves the Group is required to make by the Brazilian courts as security for any damages or settlements the Group may be required to pay as a result of litigation.
12.1.    Probable losses, provided for in the statement of financial position
The provisions for probable losses arising from these matters are estimated and periodically adjusted by management, supported by the opinion of its external legal advisors and based on the actual status of the lawsuit. The amount, nature and the movement of the liabilities are summarized as follows:
CivilLaborTaxTotal
Balance as of December 31, 202537,276 108,016 69,622 214,914 
Additions40,995 76,755 7,466 125,216 
Reversals(1,843)(2,592)(2)(4,437)
Interests1,494 794 6,393 8,681 
Payments(33,229)(55,796)(52)(89,077)
Balance as of September 30, 202644,693 127,177 83,427 255,297 
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Notes to Unaudited interim condensed consolidated financial statements
September 30, 2026
(In thousands of Brazilian Reais)
CivilLaborTaxTotal
Balance as of December 31, 202444,462 71,492 121,452 237,406 
Additions46,043 68,377 21,356 135,776 
Reversals(6,878)(19,766)— (26,644)
Interests4,156 5,693 17,148 26,997 
Payments(45,642)(26,998)(47)(72,687)
Transfer to liabilities associated with assets held for sale— — (92,929)(92,929)
Balance as of September 30, 202542,141 98,798 66,980 207,919 
12.1.1.    Civil lawsuits
In general, provisions and contingencies arise from claims related to lawsuits of a similar nature, with individual amounts that are not considered significant. The nature of the civil litigations is categorized according to the primary business fronts of the Company. Substantial provisions are specifically summarized in two of these business domains, namely (i) acquiring, totaling R$ 23,952 as of September 30, 2026 (December 31, 2025 - R$ 21,036) and (ii) banking, totaling R$ 18,307 as of September 30, 2026 (December 31, 2025 - R$ 12,954).
The Group was involved in a securities class action related to its former credit product. The class action concluded with a settlement of R$ 145,294, of which R$ 96,618 was covered by insurers, and the full settlement amount has been paid. Certain investors have filed an opt-out action in the Southern District of New York. The Group has moved to dismiss the opt-out action, among other reasons, on the grounds that it attempts to revive claims that were dismissed in the class action.
12.1.2.    Labor claims
In the context of Labor Courts, the Group encounters recurrent lawsuits, primarily falling in two categories: (i) labor claims by former employees and (ii) labor claims brought forth by former employees of outsourced companies contracted by the Group. These claims commonly center around issues such as the claimant’s placement in a different trade union and payment of overtime. The initial value of these lawsuits is asserted by the former employees at the commencement of the legal proceeding.
12.2.    Possible losses, not provided for in the statement of financial position
The Group is party to the following civil, labor and tax litigation involving risks of loss assessed by management as possible, based on the evaluation of the legal advisors, for which no provision for estimated possible losses was recognized:
September 30, 2026December 31, 2025
Civil66,480 58,457 
Labor14,760 10,139 
Tax337,109 320,678 
418,349 389,274 
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Notes to Unaudited interim condensed consolidated financial statements
September 30, 2026
(In thousands of Brazilian Reais)
12.2.1.    Civil lawsuits
The Group is a party to several legal actions whose subjects are connected to its ordinary operations. Substantial contingencies are specifically summarized as follow: (i) software, amounting to R$ 29,672 as of September 30, 2026 (December 31, 2025 - R$ 35,240), which includes those related to the Linx sale where the Group remains responsible for the defense; and (ii) acquiring, amounting to R$ 10,777 as of September 30, 2026 (December 31, 2025 - R$ 8,801); and (iii) other legal actions related to the sold Linx business, amounting to R$ 8,907 September 30, 2026.
For the software domain, there is a significant indemnity lawsuit filed by an indirect supplier, for the utilization of a specific software provided by the partner, amounting to R$ 28,902 as of September 30, 2026 (December 31, 2025 - R$ 27,956).
12.2.2.    Labor claims
The Group frequently receives lawsuits through the labor courts, primarily for two categories: (i) labor claims by former employees and (ii) labor claims by former employees of outsourced companies contracted by the Group (as a secondary obligor). These claims typically revolve around matters such as the claimant’s placement in a different trade union and payment of overtime. An initial value of these lawsuits is claimed by the former employees at the beginning of the proceeding. The actual amounts of possible contingencies when disbursed correspond to a fraction of the amount initially requested by the claimants – this lower fraction is calculated based on the Group’s track record of losses, considering similar cases. As the lawsuits progress, the reported risk amount may change, particularly following new court decisions.
12.2.3 Tax litigations
Between 2022 and 2026, the Group received tax assessments issued by a municipal tax authority relating to the allegedly insufficient payment of tax on services rendered. As of September 30, 2026, the updated amount is R$ 288,040 (December 31, 2025 - R$ 265,816). The cases are classified as possible loss.
12.3.    Judicial deposits
For certain contingencies, the Group has made judicial escrow deposits, which are legal reserves the Group is required to make by the Brazilian courts as security for any damages or settlements the Group may be required to pay as a result of litigation.
The amount of the judicial deposits as of September 30, 2026 is R$23,947 (December 31, 2025 - R$16,652), which are included in Other assets in non-current assets.
13.    Equity
13.1    Issued capital
On September 30, 2026 and December 31, 2025, the Company’s issued capital totaled R$ 76. The Company has an authorized share capital of US Dollar 50 thousand, corresponding to 630,000,000 authorized shares with a par value of US Dollar 0.000079365 each. The Company is authorized to increase capital up to this limit, subject to approval of the Board of Directors. The liability of each member is limited to the amount from time to time unpaid on such member’s shares.
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Notes to Unaudited interim condensed consolidated financial statements
September 30, 2026
(In thousands of Brazilian Reais)
13.2.    Subscribed and paid-in capital and capital reserve
The Articles of Association provide that at any time when there are Class A common shares issued, Class B common shares may only be issued pursuant to: (a) a share split, subdivision or similar transaction or as contemplated in the Articles of Association; or (b) a business combination involving the issuance of Class B common shares as full or partial consideration. A business combination, as defined in the Articles of Association, would include, amongst other things, a statutory amalgamation, merger, consolidation, arrangement or other reorganization.
The additional paid-in capital refers to the difference between the purchase price that the shareholders pay for the shares and their par value. Under Cayman Islands Law, the balance in this type of account may be applied by the Company to pay distributions or dividends to members, pay up unissued shares to be issued as fully paid, for redemptions and repurchases of own shares, for writing off preliminary expenses, recognized expenses, commissions or for other reasons. All distributions are subject to the Cayman Islands Solvency Test which addresses the Company’s ability to pay debts as they fall due in the natural course of business. Cancellation of shares issued by the Company classified as Treasury shares is recognized as reduction of additional paid-in capital reserve.
There were changes in the number of shares during the nine months ended September 30, 2026:
Number of shares
Class AClass BTotal
As of December 31, 2025298,006,356 16,241,164 314,247,520 
Conversions2,190,000 (2,190,000)— 
Cancellation of shares (a)
(60,832,695)— (60,832,695)
Vested awards (b)
269,816 — 269,816 
As of September 30, 2026239,633,477 14,051,164 253,684,641 
(a)The Board approved the cancellation of shares on February 26, 2026 without change in the amount of Issued capital.
(b)Issued to founder shareholders, as anti-dilutive shares.
13.3.    Treasury shares
Own equity instruments that are reacquired (treasury shares) are recognized at cost and deducted from equity. No gain or loss is recognized in profit or loss on the purchase, sale, issue or cancellation of the Group’s own equity instruments. Any difference between the carrying amount and the consideration, if reissued, is recognized in equity.
During the nine months ended September 30, 2026 repurchases of outstanding Class A common shares were executed upon the programs approved by the Board detailed below:
Date of program approved by the Board of DirectorsMaximum amount of repurchase approvedAmounts actually repurchased under the program (R$)Status of the program as of September 30, 2026
May-252,000,0001,946,049Program terminated by Board decision
December-252,000,0001,482,781Authorized
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Notes to Unaudited interim condensed consolidated financial statements
September 30, 2026
(In thousands of Brazilian Reais)
The table below presents movements of treasury shares:
SharesAmountAverage price
(in R$)
December 31, 2024(28,234,942)(1,805,896)
Repurchase of shares (a)
(40,290,069)(2,987,034)75.98
Shares delivered under share-based payment instruments (b)
3,182,548 201,642 66.93
December 31, 2025(65,342,463)(4,591,288)
Repurchase of shares (a)
(24,693,487)(1,482,781)60.05
Shares delivered under share-based payment instruments (b)
2,658,704 182,302 66.12
Cancellation of shares (c)
60,832,695 4,283,325 70.41
September 30, 2026(26,544,551)(1,608,442)
(a)On September 30, 2026, the amount related to brokerage fees is R$ 1,518 (December 31, 2025 - R$ 9,836).
(b)Including share-based compensation and contingent consideration.
(c)Measured by average cost of treasury shares on cancellation date.
13.4. Premium received on options over own shares entered into as part of the repurchase program
The Company entered into prepaid put and call option agreements, which entitled it to receive a certain number of own shares from the counterparty in case of option exercise. The options were not exercised, and the Company received back the amount paid in advance at the inception of the agreement. Premium received in the transaction as of September 30, 2026 was R$ 520 (September 30, 2025 - R$ 14,832).
13.5. Other comprehensive income (loss)
Other comprehensive income (loss) ("OCI") represents the profit or loss not reported in the statement of profit and loss being separately presented in the financial statements. This includes Company transactions and operations that are not considered realized gains or losses. The table presents the accumulated balance of each category of OCI as of September 30, 2026 and December 31, 2025:
September 30, 2026December 31, 2025
Other comprehensive income (loss) that may be reclassified to profit or loss in subsequent periods (net of tax):
Accounts receivable from card issuers at fair value(689,127)(732,605)
Exchange differences on translation of foreign operations(7,774)(51,603)
Unrealized loss on cash flow hedge(105,555)(96,210)
Other comprehensive income (loss) that will not be reclassified to profit or loss in subsequent periods (net of tax):
Changes in fair value of equity instruments designated at fair value291,623 291,623 
Effects of hyperinflationary accounting— 20,521 
(510,833)(568,274)
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Notes to Unaudited interim condensed consolidated financial statements
September 30, 2026
(In thousands of Brazilian Reais)
13.6. Dividend
On April 14, 2026 StoneCo announced that its Board of Directors has approved the payment of an extraordinary cash dividend of US$ 2.53 per share of the Company (both Class A and Class B shareholders) which was paid on May 4, 2026 to shareholders of record as of April 24, 2026. The total amount paid was R$ 3,078,248, calculated based on the number of shares outstanding on the record date.
14.    Earnings per share
Basic earnings per share is calculated by dividing net income for the period attributed to the controlling shareholders by the weighted average number of common shares outstanding during the period.
Diluted earnings per share considers the number of shares outstanding for the purposes of basic earnings plus (when dilutive) the number of potentially issuable shares.
All numbers of shares for the purpose of earnings per share are the weighted average during each period presented.
14.1.    Numerator of earnings per share
In determining the numerator of basic and diluted EPS, earnings attributable to the Group is allocated as follows:
Nine months ended September 30,Three months ended September 30,
2026202520262025
Net income attributable to controlling shareholders from continuing operations2,743,338 1,754,847 523,282 660,074 
Numerator of basic and diluted EPS from continuing operations2,743,338 1,754,847 523,282 660,074 
Nine months ended September 30,Three months ended September 30,
2026202520262025
Net income attributable to controlling shareholders from discontinued operations(78,006)64,894 (9,068)46,700 
Numerator of basic EPS and diluted from discontinued operations (a)
(78,006)64,894 (9,068)46,700 
(a)There were no adjustments to the numerator for discontinued operations for the purpose of calculating diluted earnings per share.
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Notes to Unaudited interim condensed consolidated financial statements
September 30, 2026
(In thousands of Brazilian Reais)
14.2.    Basic and Diluted earnings per share
The following table contains the EPS of the Group for the three and nine months ended September 30, 2026 and 2025 (in thousands except share and per share amounts):
Nine months ended September 30,Three months ended September 30,
2026202520262025
Numerator of basic EPS from continuing operations2,743,338 1,754,847 523,282 660,074 
Numerator of basic EPS from discontinued operations(78,006)64,894 (9,068)46,700 
Weighted average number of outstanding shares238,119,897 270,889,188 227,735,505 264,563,197 
Weighted average number of contingently issuable shares with conditions satisfied118,450 213,365 118,450 221,931 
Denominator of basic EPS from continuing and discontinued operations238,238,347 271,102,553 227,853,955 264,785,128 
Basic earnings per share from continuing operations - R$11.52 6.47 2.30 2.49 
Basic earnings per share from discontinued operations - R$ (0.33)0.24 (0.04)0.18 
Numerator of diluted EPS from continuing operations2,743,338 1,754,847 523,282 660,074 
Denominator of basic EPS from continuing operations238,238,347 271,102,553 227,853,955 264,785,128 
Share-based instruments (a)
5,770,373 6,458,171 6,139,877 7,215,279 
Denominator of diluted EPS from continuing244,008,720 277,560,724 233,993,832 272,000,407 
Diluted earnings per share from continuing operations - R$11.24 6.32 2.24 2.43 
Numerator of diluted EPS from discontinued operations(78,006)64,894 (9,068)46,700 
 Denominator of diluted EPS from discontinued operations238,238,347 271,102,553 227,853,955 264,785,128 
Share-based instruments (b)
— 6,458,171 — 7,215,279 
Denominator of diluted EPS from discontinued operations238,238,347 277,560,724 227,853,955 272,000,407 
Diluted earnings per share from discontinued operations - R$ (c)
(0.33)0.23 (0.04)0.17 
(a)Diluted earnings per share are calculated by adjusting the weighted average number of shares outstanding, considering potentially convertible instruments.
(b)For the nine months and three months ended September 30, 2026, share-based instruments are antidilutive shares in the calculation of diluted EPS from discontinued operations, as their inclusion would reduce the diluted loss per share.
(c)For discontinued operations, the denominator of diluted EPS is consistent with that of continuing operations, as dilution is assessed based on the denominator from continuing operations.
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Notes to Unaudited interim condensed consolidated financial statements
September 30, 2026
(In thousands of Brazilian Reais)
14.3.    Detail of potentially issuable common shares for purposes of Diluted EPS
The potentially issuable common shares consider the difference between the issuable shares under share-based instruments and the number of shares that potentially be purchased at the weighted average market price of the shares during the period with the amount of future compensation expense of those share-based instruments, as presented as follows:
Nine months ended September 30,Three months ended September 30,
2026202520262025
Total weighted average shares issuable under share-based payment plans for which performance conditions have already been met12,729,572 13,539,560 13,570,329 12,990,030 
Total weighted average shares that could have been purchased: compensation expense to be recognized in future periods divided by the weighted average market price of Company’s shares(6,959,199)(7,213,994)(7,430,452)(5,907,356)
Other total weighted average shares potentially issuable for no additional consideration— 132,605 — 132,605 
Share-based instruments5,770,373 6,458,171 6,139,877 7,215,279 
15.    Revenue and income
15.1.    Timing of revenue recognition
Net revenue from transaction activities and other services and discount fees charged for the prepayment of accounts payable to clients are recognized at a point in time, except for membership fees which are recognized over time. All other revenue and income are recognized over time.
The Group has recognized revenue to membership fee in the amount of R$ 117,962 in the nine months ended September 30, 2026 (R$ 177,905 nine months ended September 30, 2025).
Net revenue from transaction activities and other services includes membership fee mentioned above and R$ 35,246 of registry business fee in the nine months ended September 30, 2026 (R$ 37,862 in nine months ended September 30, 2025).
15.2. Seasonality of operations
The Group’s revenues are subject to seasonal fluctuations as a result of consumer spending patterns. Historically, revenues have been strongest during the last quarter of the year as a result of higher sales during the Brazilian holiday season. This is due to the increase in the number and amount of electronic payment transactions related to seasonal retail events. Adverse events that occur during these months could have a disproportionate effect on the results of operations for the entire fiscal year. As a result of seasonal fluctuations caused by these and other factors, results for an interim period may not be indicative of those expected for the full fiscal year.
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Notes to Unaudited interim condensed consolidated financial statements
September 30, 2026
(In thousands of Brazilian Reais)
16.    Expenses by nature
Nine months ended September 30,Three months ended September 30,
2026202520262025
Personnel expenses
1,863,703 1,995,557 571,601 649,298 
Transaction and client services costs (a)
1,387,169 1,015,048 451,598 313,595 
Provision for expected credit losses of loans operations 551,240 202,644 197,427 86,369 
Marketing expenses and sales commissions (b)
806,447 766,857 281,889 258,365 
Depreciation and amortization (Note 9.2)
690,629 670,868 227,268 231,718 
Third party services
186,682 181,985 66,777 66,811 
Other
281,066 148,119 108,069 11,489 
5,766,936 4,981,078 1,904,629 1,617,645 
(a)Includes transaction and client services costs, card transaction capturing services, card transaction and settlement processing services, logistics costs, software operational costs, payment scheme fees, cloud services as well as allowance for expected losses on trade receivables and receivables from issuers in the amount of R$ 366,991 for nine months ended September 30, 2026 and R$ 60,550 for three months ended September 30, 2026 ( R$ 109,448 for nine months ended September 30, 2025 and R$ 35,816 for three months ended September 30, 2025).
(b)Marketing expenses and sales commissions relate to marketing and advertising expenses, and commissions paid to sales related partnerships.
17. Financial expenses, net
Nine months ended September 30,Three months ended September 30,
2026202520262025
Finance cost of sale of receivables1,298,577 1,590,349 417,860 445,029 
Cost of debts and deposits2,030,634 1,642,689 724,710 679,580 
Other16,982 92,870 17,743 22,486 
3,346,193 3,325,908 1,160,313 1,147,095 
18.    Employee benefits
18.1.    Share-based payment plans
The Group has equity settled share-based payment instruments, under which management grants shares to employees and non-employees depending on the strategy of the Group. The following table outlines the key share-based awards movements - in number of shares - as of September 30, 2026 and December 31, 2025.
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Notes to Unaudited interim condensed consolidated financial statements
September 30, 2026
(In thousands of Brazilian Reais)
Equity
RSUPSUOptionTotal
Number of shares
As of December 31, 202412,703,778 5,891,383 43,773 18,638,934 
Granted3,543,553 604,146 — 4,147,699 
Cancelled(932,292)(278,628)— (1,210,920)
Delivered(3,408,271)— — (3,408,271)
As of September 30, 202511,906,768 6,216,901 43,773 18,167,442 
As of December 31, 202511,306,955 6,239,923 43,773 17,590,651 
Granted (a) (b)
6,404,587 1,231,056 — 7,635,643 
Cancelled(1,120,881)(708,715)— (1,829,596)
Delivered (c)
(3,345,057)(572,616)— (3,917,673)
As of September 30, 202613,245,604 6,189,648 43,773 19,479,025 
(a)RSU’s granted with an average grant-date fair value of R$ 72.68. (includes 2,636,281 granted in accordance with the terms of the awards to holders as dividend equivalents upon the distribution of dividends in the period).
(b)PSU’s granted with an average grant-date fair value of R$ 12.94. (includes 1,167,695 granted in accordance with the terms of the awards to holders as dividend equivalents upon the distribution of dividends in the period).
(c)The delivery of the period net of withholding taxes represents 2,658,704 treasury shares.
18.1.1 Share-based payment expenses
The total expense related to share-based plans, including taxes and social charges, recognized as Other income (expenses), net for the programs was R$ 118,214 for nine months ended September 30, 2026 and R$ 1,393 for three months ended September 30, 2026 (R$ 235,608 for nine months ended September 30, 2025 and R$ 63,840 for three months ended September 30, 2025).
19.    Other disclosures on cash flows
19.1. Non-cash transactions
19.1.1.    Operating activities
Nine months ended September 30,
20262025
Changes in the fair value of accounts receivable from card issuers at FVOCI(52,803)434,003 
19.1.2.    Investing activities
Nine months ended September 30,
20262025
Property and equipment and intangible assets acquired through lease (Note 9.1 and 10.1)
17,134 48,069 
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Notes to Unaudited interim condensed consolidated financial statements
September 30, 2026
(In thousands of Brazilian Reais)
19.1.3.    Financing activities
Nine months ended September 30,
20262025
Unpaid consideration for acquisition of non-controlling shares344 503 
19.2. Items breakdown
19.2.1.    Fair value adjustment in financial instruments designated at FVPL
Nine months ended September 30,
20262025
Adjustment on FIDC and bank borrowings designated for fair value hedge (Note 5.6.2)20,300 (179,405)
Fair value adjustment on equity securities designated at FVPL (1,587)(11,790)
Fair value adjustment in financial instruments designated at FVPL18,713 (191,195)
19.2.2.    Interest income received, net of costs
Nine months ended September 30,
20262025
Interest income received on prepayment of accounts payable to clients7,129,687 6,852,808 
Finance cost of sale of receivables (Note 17)(1,298,577)(1,590,349)
Interest income received, net of costs5,831,110 5,262,459 
19.2.3.    Purchases of property and equipment
Nine months ended September 30,
20262025
Additions of property and equipment (Note 9.1)
(522,526)(587,010)
Additions of right of use (Note 9.1)
17,134 48,068 
Payments from previous period(50,332)(57,413)
Purchases not paid at period end32,133 50,230 
Purchases of property and equipment(523,591)(546,125)
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Notes to Unaudited interim condensed consolidated financial statements
September 30, 2026
(In thousands of Brazilian Reais)
19.2.4.    Purchases and development of intangible assets
Nine months ended September 30,
20262025
Additions of intangible assets (Note 10.1)
(271,128)(348,171)
Additions of right of use (Note 10.1)
— 1 
Payments from previous period(3,739)(5,015)
Purchases not paid at period end456 2,609 
Service and operating rights— 16,418 
Purchases and development of intangible assets(274,411)(334,158)
19.2.5.    Proceeds from the disposal of non-current assets
Nine months ended September 30,
20262025
Net book value of disposed assets
3,683,895 81,822 
Net book value of disposed leases
(25,521)(22,124)
Gain (loss) on disposal of property and equipment and intangible assets(51,069)36,201 
Disposal of Software business property, equipment and intangible assets
(3,568,065)— 
Disposal of Simplesvet property, equipment and intangible assets
— (20,585)
Disposal of corporate assets
— (41,865)
Outstanding balance(38,208)(33,445)
Proceeds from disposal of non-current assets1,032 4 
20. Disposal group classified as held for sale and discontinued operations
In the second quarter of 2025, the Group entered into two separate agreements to sell Linx Sistemas e Consultoria Ltda (“Linx Sistemas”) and certain other software assets (“Software Businesses"), and SimplesVet Tecnologia S.A. (“Simplesvet”), resulting in the classification of both businesses as held for sale. The transactions have also been classified as discontinued operations. Therefore, the statement of profit or loss presents the net results of continuing and discontinued operations separately for each period presented, with prior periods reclassified accordingly.
The entities comprised in the Software Businesses are listed below:
•Linx Software Participações em Tecnologia S.A.
•Linx Sistemas e Consultoria Ltda
•Linx Telecomunicações Ltda
•Linx Automotivo Ltda
•Linx Commerce Ltda
•Linx People Ltda
•Linx Saúde Ltda
•Sponte Educação Ltda
•Napse S.R.L.
•Napse Uruguay SAS
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Notes to Unaudited interim condensed consolidated financial statements
September 30, 2026
(In thousands of Brazilian Reais)
•Sociedad Ingeniería de Sistemas Napse I.T. de Chile Limitada
•Synthesis Holding LLC
•Synthesis US LLC
•Retail Americas Sociedad de Responsabilidad Limitada de Capital Variable
•Synthesis IT de México Sociedad de Responsabilidad Limitada de Capital Variable
20.1. Software Businesses and Simplesvet
In the second quarter of 2025, the Board of Directors approved the plan to sell Software Businesses and Simplesvet. Both sales were expected to be completed within a year from the reporting date so were classified as a disposal group held for sale. These businesses together represent a major part of our Software operating segment and as a result met the requirements to be classified as discontinued operations. The Software segment continues to be one of the segments disclosed in the financial statements comprised of other businesses that do not meet the criteria for either assets held for sale or discontinued operations.
Immediately before the classification of the businesses as discontinued operation and at each reporting date, the recoverable amount was estimated for assets included in the disposal group. An impairment loss of R$ 157,991 was identified as of December 31, 2025 and was recognized as part of discontinued operations.
Estimating the fair value implies assumptions and estimates that require judgment. In estimating such fair value we have considered the terms of the agreements we entered into as well as estimates about expected timing of the disposals which impact the estimated proceeds of the sale and as well as its discount to present value as of the date of the impairment test. While actual date of the disposal may differ from this estimate of fair value we expect any difference will not result in significant effect in the impairment test performed.
In the third quarter of 2025, the agreement to sell Simplesvet was concluded and the sale resulted in a gain of R$ 56,588.
The Software Businesses transaction was approved without restrictions by the Brazilian Administrative Council for Economic Defense (CADE) on January 30, 2026, and closed on February 27, 2026. The total amount received was R$ 3,272,193, and the final accounting effects of the disposal resulted in a loss of R$ 28,717.
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Notes to Unaudited interim condensed consolidated financial statements
September 30, 2026
(In thousands of Brazilian Reais)
The major classes of assets included in the disposal group classified as held for sale as well as the liabilities directly associated with those assets are presented below.
December 31, 2025
Assets
Cash and cash equivalents230,643 
Trade accounts receivable171,652 
Recoverable taxes9,173 
Other assets49,177 
Deferred tax assets3,704 
Property and equipment67,009 
Intangible assets3,491,465 
Total assets classified as held for sale4,022,823 
Liabilities
Trade accounts payable54,954 
Other debt instruments21,369 
Deferred tax liabilities434,903 
Labor and social security liabilities115,923 
Taxes payable38,957 
Provision for contingencies96,267 
Other liabilities30,633 
Total liabilities associated with assets held for sale793,006 
The accumulated balances of other comprehensive income recognized within equity associated with assets held for sale are presented below:
December 31, 2025
Amounts included in accumulated OCI to be recognized in income upon disposal of the businesses
Net monetary position in hyperinflationary economies20,578 
Exchange differences on translation of foreign operations(52,779)
Total other comprehensive loss associated with assets held for sale(32,201)
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Notes to Unaudited interim condensed consolidated financial statements
September 30, 2026
(In thousands of Brazilian Reais)
The effects of discontinued operations on the statement of profit or loss of the periods are presented below:
Nine months ended September 30,Three months ended September 30,
 2026 2025
2026 (a)
2025
Net revenue from transaction activities and other services9,637 68,070—23,625
Net revenue from subscription services and equipment rental183,564 824,240—269,268
Other financial income1,251 18,057—1,537
Total revenue and income from discontinued operations194,452910,367—294,430
Cost of services(94,957)(415,996)—(129,354)
Administrative expenses(38,761)(151,234)—(23,034)
Selling expenses(52,921)(203,848)—(66,940)
Financial expenses, net(4,909)(28,940)—(10,620)
Other income (expenses), net(94,854)(16,180)(13,740)(5,222)
(286,402)(816,198)(13,740)(235,170)
Profit before income taxes from discontinued operations(91,950)94,169 (13,740)59,260 
Current income tax and social contribution28,119 (33,757)4,672(13,724)
Deferred income tax and social contribution(14,175)7,574—1,569
Net income (loss) for the period from discontinued operations(78,006)67,986 (9,068)47,105 
(a)The Share Purchase Agreement (the "SPA") entered into on July 21, 2025, related to the sale of Linx and certain related software assets to TOTVS S.A., provides for an adjustment based on the net cash and working capital of the divested business. An amount of R$ 13,740 has already been paid to TOTVS, with the corresponding reduction in the consideration attributable to the divested software business recognized within the Discontinued Operations line. Certain amounts related to the adjustment are still under discussion between the parties, in accordance with the procedures set forth in the SPA
Discontinued operations on the statement of cash flows of the periods are presented below:
Nine months ended September 30,
20262025
Net cash provided by (used in) operating activities(49,733)222,295 
Net cash provided by (used in) investing activities46,166 (173,304)
Net cash used in financing activities(764)(42,431)
Effect of foreign exchange on cash and cash equivalents9,856 (11,433)
Change in cash and cash equivalents5,525(4,873)
21. Operating segments
The Company evaluates the operational performance of its businesses considering its long-term strategy and the correlation between the operational nature of the services provided. This approach aims to achieve the Group's strategy, which, in addition to financial services, focuses on empowering its clients (entrepreneurs) with the capability to monitor, manage, and scale their own businesses.
In March 2026, management reassessed the internal reporting structure used to monitor the Group's operational performance. As a result, the operations were segregated into (i) the results of the financial services businesses and (ii) the results of other businesses considered adjacent to the core financial services.
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Notes to Unaudited interim condensed consolidated financial statements
September 30, 2026
(In thousands of Brazilian Reais)
Accordingly, the Group's operating and reportable segments are now "Financial services" and "Other solutions", comprised as follows:
•Financial services: financial services solutions serving Micro, Small and Medium Businesses (MSMBs) and Large Accounts, consisting mainly of payments solutions, digital banking, credit, insurance, and registry of receivables (TAG).
•Other solutions: solutions that include ERP software, CRM, engagement tools, Ads solutions, and hubs.
The Group uses Adjusted net income (loss) as the measure reported to the Chief Operating Decision Maker (“CODM”), which comprises the Chief Executive Officer ("CEO”) and the Board of Directors, about the performance of each segment.
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Notes to Unaudited interim condensed consolidated financial statements
September 30, 2026
(In thousands of Brazilian Reais)
21.1. Statement of profit or loss by segment
Nine months ended September 30, 2026Three months ended September 30, 2026
Financial servicesOther solutionsFinancial servicesOther solutions
Total revenue and income10,508,134 343,329 3,565,125 120,931 
Cost of services(2,860,546)(126,427)(1,007,925)(44,349)
Administrative expenses(537,025)(70,623)(182,898)(23,537)
Selling expenses(1,580,704)(77,054)(543,938)(26,338)
Financial expenses, net(3,332,257)(4,678)(1,156,263)(1,592)
Other income (expenses), net(290,318)1,197 (65,441)480 
Total adjusted expenses(8,600,850)(277,585)(2,956,465)(95,336)
Gain on investment in associates— 462 — 1,076 
Adjusted profit before income taxes1,907,284 66,206 608,660 26,671 
Income taxes and social contributions(293,426)(6,103)(91,052)(2,189)
Adjusted net income for the period1,613,858 60,103 517,608 24,482 
Nine months ended September 30, 2025Three months ended September 30, 2025
Financial servicesOther solutionsFinancial servicesOther solutions
Total revenue and income10,128,261 300,249 3,448,931 117,859 
Cost of services(2,369,651)(84,285)(789,881)(27,873)
Administrative expenses(546,747)(89,220)(191,197)(32,279)
Selling expenses(1,518,634)(66,889)(502,968)(24,202)
Financial expenses, net(3,311,323)(6,189)(1,141,927)(2,217)
Other income (expenses), net(318,355)(1,127)(95,018)(622)
Total adjusted expenses(8,064,710)(247,710)(2,720,991)(87,193)
Loss on investment in associates— (1,329)— (1,191)
Adjusted profit before income taxes2,063,551 51,210 727,940 29,475 
Income taxes and social contributions(374,640)30,194 (113,346)(2,575)
Adjusted net income for the period1,688,911 81,404 614,594 26,900 
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Notes to Unaudited interim condensed consolidated financial statements
September 30, 2026
(In thousands of Brazilian Reais)
21.2. Reconciliation of segment adjusted net income for the period with net income in the consolidated financial statements
Nine months ended September 30,Three months ended September 30,
2026202520262025
Adjusted net income – Financial services1,613,858 1,688,911 517,608 614,594 
Adjusted net income – Other solutions60,103 81,404 24,482 26,900 
1,673,961 1,770,315 542,090 641,494 
Adjustments from adjusted net income to consolidated net income (loss)
Amortization of fair value adjustment related to acquisitions (a)
(31,534)(34,114)(9,633)(11,563)
Deferred tax asset on tax goodwill recognized on acquisition of Linx (b) (Note 8.1 and 8.3)
1,242,596 — — — 
Allowance for expected losses on selected card issuers (c)
(200,318)— — — 
Other income (loss) (d)
(2,842)39,548 (3,508)55,006 
Tax effect on adjustments79,063 (8,759)1,761 (16,792)
Consolidated net income2,760,926 1,766,990 530,710 668,145 
(a)Related to acquisitions. Consists of expenses resulting from the changes of the fair value adjustments as a result of the application of the acquisition method.
(b)The Company excludes this amount to determine adjusted net income since it considers the effect related to the original acquisition of Linx in order to be consistent with the exclusion of effects in income related to acquisitions and disposal of businesses. Future deferred tax expense resulting from the derecognition of the deferred tax asset will also be eliminated in determining adjusted net income.
(c)The Company excludes this amount in determining adjusted net income as we consider this particular loss as unusual, non-recurring event considering regulatory changes about responsibility of cards schemes in the events of non-compliance by card issuers.
(d)Consists of the fair value adjustment related to associates call option, earn-out interests related to acquisitions, gains or losses on the divestment of assets and remeasurement of previously held equity in associates.
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