Vasta Platform (US:VSTA)2025-05-08 21:21Financial Performance - Subscription Revenue increased by 17% to R$420 million[8] - Net Revenue increased by 11% compared to 2024[12] - Free Cash Flow increased significantly, reaching R$144 million, which is 176% higher than the R$52 million in 2024[10] - Adjusted EBITDA increased by 5% to R$18 million, reaching R$420 million compared to R$402 million in 2024[8] - Adjusted Net Profit decreased by 48.6% to R$26 million in 1Q25 compared to R$50 million in 1Q24[27] Margins - Adjusted EBITDA Margin decreased to 37.2% compared to 39.6% in 2024[8] - LTM FCF / LTM Adjusted EBITDA conversion improved to 50.8%, an 8.3 percentage point increase from 42.5% in 2024[11] - Gross Margin decreased, impacted by lower revenue in the period[21] Revenue Breakdown - Subscription revenue increased by 16.9% cycle to date[13] - Non-subscription revenue decreased by 27% in 1Q25 and 6.4% cycle to date[13] - B2G revenue decreased by 6.6% in 1Q25 and 40.5% cycle to date[13] Debt and Receivables - Net Debt decreased by R$77 million cycle to date[44] - Provision for Doubtful Accounts (PDA) as a percentage of net revenue decreased to 3.0% cycle to date, compared to 4.2% in 2024[35] - Average Days of Accounts Receivable increased by 8 days year-over-year[38]