Allied Tecnologia S.A. (ALLD3) Q2 2026 earnings summary

Executive summary

• Net revenue reached R$1,458.3 million in 2Q26, up 4.7% year-over-year, marking the highest Q2 since 2023, led by Brazil Distribution (+8.6%) and Physical Retail (+11.7%).

• Gross profit rose 14.0% to R$170.5 million, with margin expanding 1.0 p.p. to 11.7%, reflecting a more profitable channel mix and commercial discipline.

• EBITDA increased 37.0% to R$73.8 million, with margin at 5.1% (+1.2 p.p.), and net income more than doubled to R$36.6 million (+130.8% y/y), supported by operational efficiency and cost control.

• Free cash flow was R$123.6 million in 2Q26, with a strong conversion rate and FCF yield (LTM) of 55.2%; cash position at R$348.8 million and net debt at R$43.5 million (0.2x LTM EBITDA).

• Consistent profitability and positive net income reported every quarter since IPO.

Financial highlights

• Consolidated revenue: R$1,458.3 million in 2Q26 (+4.7% y/y); gross profit: R$170.5 million (+14.0% y/y); margin 11.7% (+1.0 p.p.).

• EBITDA: R$73.8 million in 2Q26 (+37.0% y/y); margin 5.1% (+1.2 p.p.); net income: R$36.6 million (+130.8% y/y); net margin: 2.5% (+1.4 p.p.).

• Free cash flow: R$123.6 million in 2Q26; FCF yield (LTM): 55.2%.

• Net debt: R$43.5 million, 0.2x LTM EBITDA; gross debt: R$392.3 million, 79% long-term.

• ROIC (LTM): 20.4%, up 6.6 p.p. year-over-year, highest since 1Q22.

Outlook and guidance

• Management expects continued expansion, leveraging product launches, partnerships, and growth in refurbished devices, but remains cautious due to market uncertainties and sector challenges.

• Strategic focus on profitability, cash generation, and value creation for stakeholders.