Linx Grows 11% in Net Revenue in the First Quarter of 2021 Compared to the Same Period in 2020
SÃO PAULO--(BUSINESS WIRE)--Linx closed the first quarter of 2021 with gross revenue of BRL 264.5 million. In 1Q21, total recurring revenue reached BRL 233 million, 15% higher than 1Q20 and equivalent to 88% of gross revenues. Net operating revenue was BRL 231 million, which represented an increase of 11% over 1Q20. Adjusted EBITDA reached BRL 52 million in the quarter and the adjusted EBITDA margin in the period was 22.4%. The adjusted net loss in the first quarter was BRL 4 million. “The first quarter of 2021 was very hard for Brazil. New variants of the Coronavirus have been detected, the number of infections has skyrocketed across the country, health systems in several cities have collapsed and, unfortunately, the death toll has grown exponentially. In view of this situation, e-commerce continued to be the main alternative for retailers to continue operating safely, enabling the continuity and even the expansion of their businesses. As a result, Linx Digital now represents 14.7% of total recurring revenue in 1Q21, while Linx Pay also grew and started to account for 13.1% of total recurring revenue in the same year. It is important to note that despite the restrictive measures to the retail operation, the recurring revenue of Linx Core grew 14.6% in 1Q21 when compared to 1Q20,” explains Alberto Menache, Linx CEO. We reaffirm our commitment to the long term, ensuring the safety of our team, service to customers and suppliers, and consequently, to the business. About Linx Linx is a Brazilian company specialized in retail technology. Leader in the management software market, with 45.6% of retail market share, as IDC attests. All of Linx's shopping journey expertise is transformed into key insights to achieve what retailers expect most: build customer loyalty and achieve tangible, relevant results. Publicly traded at B3 since 2013, Linx also became the first Brazilian publicly traded software company at NYSE in 2019. The company has more than 3,500 employees distributed among its headquarters in São Paulo, 15 branches throughout Brazil. and 5 countries in America. To learn more, visit www.linx.com.br/imprensa.
May 17, 2021 | www.businesswire.com
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