to Melius (cash 3) recorded a net loss of R$6.5 million in the first quarter of 2022 (Q1 of 22), reflecting a profit of R$3 million for the same quarter of 2021.
Millius’ total trading volume (GMV) (CASH3) reached R$1.6 billion between January and March of this year, an increase of 66% compared to the same quarter last year.
“This meaningful increase in GMV underscores our strategy to strengthen and engage our user base throughout 2021, and deliver tangible volume results as early as the start of 2022,” the company wrote in the management report accompanying the balance sheet.
Melius’ earnings before interest, tax, depreciation and amortization (Ebitda) (CASH3) was negative R$17.1 million in the first quarter of ’22, an improvement of 67% over the fourth quarter of ’21.
Ebitda’s adjusted margin was 1% in the first three months of the year, up 4 percentage points compared to the margin reported in the first quarter of ’21.
Revenues
Melius (CASH3) has net revenue of R$90 million between January and March of this year, up 74% over the same period in 2021.
The company explains: “Historically, our net revenue in the first quarter of each year has been higher than in the previous quarter, i.e. in the fourth quarter of the prior year.”
According to Méliuz (CASH3), “This is due to a relevant portion of sales realized in the fourth quarter, a stronger seasonal period due to Black Friday and year-end events, being factored into the first quarter result.”
He added, “This dynamic had a smaller impact in the first quarter of ’22, due to increased revenue recognition referring to the Black Friday period in the fourth quarter of ’21 itself, causing a smaller proportion of sales pointing to the fourth quarter of ’21 having an impact on the result. first quarter of the year 22″.
More About Melius (Cash 3) Balance
Melius’ gross profit (CASH3) was R$ 6.7 million in the first quarter of 2022, an increase of 31.3% at the same stage in 2021. Gross margin was 30% in the first quarter of 22, a decrease of 5 points compared to the same stage in 2021.
Total operating expenses were R$108.9 million in the first quarter of 22, a decrease of 28% compared to the fourth quarter of 2021.
The company ended the quarter with a total of 23.6 million accounts open at Melius, a growth of 44% compared to the same period a year earlier, when it reached 16.4 million.
At the end of March 2022, the number of active users of the company reached 8.6 million.
take rate
Melius’s (CASH3) take rate was 6.3% in the first quarter of 22, an increase of 0.5 percentage points compared to the same period the previous year, when it was recorded at 5.7%, and the growth is mainly due to better negotiations with partners throughout the quarter, the company explains in the report.
“We are increasingly supporting ourselves to partners as an essential tool to increase sales and the movement of qualified customers.”
There were 46 million visits through the Melius app, an increase of 44% compared to the first quarter of ’21. In addition to 19 million visits to the site and 900,000 visits to the active browser plug-in, an increase of 27% compared to the first quarter of ’21, there were 66 One million visits to the environment of Melius.
Buying opportunity? XP Strategist reveals 6 cheap stocks to buy today. Watch here.
