By Brazil Stock Guide – PicPay (PICS) reported record financial results for 2025, marking a milestone in its first full year as a Nasdaq-listed company, according to figures released by the company on Wednesday (18).
The Brazilian fintech posted revenue above R$10 billion for the first time, an 85% increase from 2024. Adjusted net income reached R$502 million, more than doubling year over year. Gross profit totaled R$3.6 billion, up 29%, while net interest income (NII) rose 87% to R$4.9 billion.
Fourth-quarter performance also showed strong acceleration. Net revenue reached R$3 billion, up 69% from a year earlier. Adjusted net income climbed 136% to R$188.2 million. Gross profit for the period stood at R$1 billion, a 38% increase, while NII totaled R$1.4 billion, up 72%.
Return on equity improved, with adjusted annualized ROE reaching 24.4% in the fourth quarter, an increase of 5.4 percentage points year over year. For the full year, ROE stood at 20%, up 3 percentage points.
“The PicPay combines revenue expansion, consistent profit generation and continuous evolution of its business model. We began this new phase as a listed company maintaining the same essence that has defined our trajectory: innovation, disciplined execution and a commitment to simplifying Brazilians’ financial lives,” said Eduardo Chedid.
Operational metrics also strengthened. PicPay ended 2025 with 67 million total accounts, an 11% increase, including 42.7 million active users. Total payment volume (TPV) reached R$550 billion, up 31%, while cash-in volumes rose 29% to R$483.4 billion.
The company’s digital wallet remains its main driver for customer acquisition and engagement, supporting cross-selling of financial services. Average revenue per active customer (ARPAC) reached R$71 in the fourth quarter, a 52% increase, more than three times the cost to serve, which remained at R$20.
“The numbers reflect the strength of our strategy, combining a highly engaged customer base, an increasingly comprehensive portfolio of financial and non-financial products, and operational discipline that allows us to grow profitably,” said André Cazotto, head of strategy, M&A and investor relations at PicPay.