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PagBank records its highest recurring net income in Q124, reaching 522 million BRL – an increase of +33% in the annual comparison

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TPV reached 112 billion BRL (+27% YoY), more than twice the industry’s growth and 31 billion BRL in deposits, reinforcing the balance sheet for expansion of receivables anticipation and credit concession.

SÃO PAULO, May 24, 2024 /PRNewswire/ — PagBank (NYSE: PAGS), a complete digital bank in financial services and payments solution and one of the largest digital banks in Brazil, announces its results for the first quarter of 2024 (Q124). The main highlights of the period include a record recurring net profit  of 522 million BRL (+33% YoY), while the net accounting profit reached 483 million BRL (+31 YoY%).

Alexandre Magnani, CEO of PagBank, points out the continuity of the good results presented in the last quarters, highlighting the expressive gain of market share in payments (acquirings), balancing growth with profitability, while the Company establishes itself among the largest financial institutions in Brazil in number of clients:

“We are more than 31 million customers and our execution has been consistent. We have consolidated our value proposition for micro, small, and medium-sized enterprises, facilitating the financial life of individuals and businesses. At the same time, we have captured opportunities for client-consumers who do not have a relationship with payment machines through payroll loans, our broad investment platform, and the offer of a complete bank,” says the CEO of PagBank.

In acquirings, the TPV registered was 112 billion BRL (+27% YoY), growing in all segments (MSMBs and Large Companies, E-commerce, and Cross-border businesses1). In digital banking, PagBank reached 66 billion BRL in Cash-In (+48% YoY), a metric that represents the financial volume received from other financial institutions in PagBank accounts, excluding acquisition, especially Pix, business account products, and salary portability.

The substantial volumes of TPV and Cash-in led deposits to record numbers of nearly 31 billion BRL (+64% YoY and +11%QoQ) despite the less favorable seasonality of the period, given that in the first months of the year, customers have more significant disbursements to honor the payment of taxes, such as IPTU and IPVA, and school yearly supplies, among other expenses.”We stand out for offering instant settlement for our customers and carrying out easy operations via Pix, leveraging our TPV and Cash-In volume in PagBank accounts. This, added to the fact that we have a banking license since 2019, means that we have the agility of a fintech and low funding costs like a traditional bank,” says Magnani. 

According to Artur Schunck, CFO of PagBank, operational growth does not harm the Company’s capital allocation. On the contrary, the acceleration of revenue growth and discipline in costs and expenses were the main levers of the record result. “The financial margins of the consolidated business were high. Our profit grew more than 30% compared to the Q1 2023, even with additional disbursements linked to the new cycle of growth and diversification of the operation, including geographical expansion and marketing actions in the period”, says Schunck.

The credit portfolio resumed growth and reached 2.7 billion (+8% QoQ) at the end of March, focusing on low-risk products such as consigned credit, the anticipation of the year withdrawal of FGTS (Severance Pay Fund), and credit cards with a limit attached to PagBank’s CDBs (a type of fixed-income investment). Schunck believes that despite short-term macroeconomic uncertainties regarding interest and inflation behavior, the worst is in the past, and he is confident in the credit strategy:

“We crossed the pandemic, the significant high-interest rate period, and one of the worst credit cycles in Brazil and still we have built a robust balance sheet and diversified our credit portfolio in terms of customers, products, and risks. Now, we are opening up opportunities to accelerate the concession and gradually expand the offer of credit products from the next few months,” says the CFO of PagBank. 

Other Highlights

Net revenue in the quarter was 4.3 billion BRL (+15% YoY), driven by the strong growth of the acquirings, led by MSMBs (micro, small and medium-sized businesses) and the advance in large accounts, with emphasis on online, cross-border, and automation, as well as the growth of higher margins in financial services. The number of clients reached 31.4 million, reinforcing PagBank’s position as one of the largest digital banks in the country.

In the period, PagBank was recognized as the best bank in Brazil and awarded the RA1000 seal of quality in service, both granted by the Reclame Aqui ranking and as one of the 50 most valuable brands in the country, according to a survey conducted by Kantar BrandZ.

Among the launches of the quarter, main highlights were PagBankPartnerships, a relationship and integration program with software companies and commercial automation; Seguro Empresarial (Business Insurance) offering coverage against fires, electrical damage, theft, burglary, and natural disasters, among others; and Tap to Pay Online, a new and exclusive technology in Latin America that allows the customer to run online transactions by bringing credit or debit card closer to the mobile phone on e-commerce platforms. In addition, PagBank has started to offer 1% cashback on all purchases made with the digital bank credit card and new investment options, such as the CBD, with a 130% CDI rate-variation yield.

“This current moment reminds us very much of our phase between 2018 and 2019, in which we grew in a fast and profitable way, and launched several products. We are very optimistic about the coming months and years of the Company”, says the CEO of PagBank. 

Rio Grande do Sul

PagBank has closely monitored the potential impacts of the ongoing climate tragedy in the state of Rio Grande do Sul and the developments in its operations. The Company’s TPV exposure in the state is similar to the state’s share in national GDP – around 5%. The Company says t is early to share some numbers since consumption in the affected regions have decreased due to the temporary closure of the business, while moving people to neighboring cities and states can increase consumption in unaffected areas.

“At this time, our focus is on supporting flood victims, especially our professionals working in the state of Rio Grande do Sul, through donations from PagBank and its professionals, in cash and goods, as well as offering special support to our affected customer,” says Magnani. 

Check out the financial results of PagBank in Q124 here.

About PagBank
PagBank promotes innovative solutions in financial services and means of payment, automating the purchase, sale, and transfer process to leverage individuals’ and enterprises’ businesses simply and securely. A company of the UOL Group – leader of the Brazilian Internet – PagBank acts as an issuer and acquirer, offering digital accounts and providing complete solutions for online and face-to-face payments (by mobile devices and POS devices). 

PagBank also has a wide variety of means of payment, such as credit and prepaid cards, bank transfers, payments by billet, and balance in the account, among others. PagBank (PagSeguro Internet Payment Institution S.A) is regulated by the Central Bank of Brazil as an electronic money-issuing payment institution, issuer of post-paid instruments and acquirer, having partnerships with the leading credit card issuers. Its parent company, PagSeguro Digital, is listed in the U.S. (NYSE: PAGS) and regulated by the Securities and Exchange Commission (SEC). The distribution of investment funds is carried out by BancoSeguro S.A., authorized by the Central Bank of Brazil, the Securities and Exchange Commission, and affiliated with ANBIMA. 

Visit the PagBank Press Room

1 GCECs: The Brazilian acronym for large companies (annual revenues above 12 million BRL), e-commerce and cross-border businesses.

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SOURCE PagBank

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Bybit Proudly Presents CCCC Bali 2025: Building a Sustainable Crypto Content Ecosystem

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DUBAI, UAE, April 7, 2025 /PRNewswire/ — The Crypto Content Creator Campus (CCCC), supported by Bybit, will launch a special pilot edition in Bali from April 10 to 13, 2025. Set against the lush tropical backdrop, the event will bring together 150 talents for an immersive two-day program featuring keynote speeches, expert-led panels, hands-on workshops, and one-on-one mentoring. Attendees will explore creator growth, audience engagement, monetization strategies, and the evolving landscape of Web3 content.

Asia as the Heartbeat of the Crypto Content Revolution

Asia’s crypto culture is distinct—analytical, data-driven, and deeply rooted in community. Mandarin-speaking content creators, in particular, continue to shape the industry through insightful analysis, compelling narratives, and educational deep dives. Bybit acknowledges the critical role of quality content in educating users and supporting the next generation of crypto adopters. 

“We’re incredibly proud to support CCCC Bali and the exceptional creators who are shaping the future of crypto education,” said Helen Liu, Chief Operating Officer of Bybit. “The Mandarin-speaking community is one of the most vibrant and knowledgeable in the world. Bybit is here to listen, collaborate, and help build a strong foundation for long-term growth.”

Fostering Responsible Content Creation

Bybit’s support of CCCC Bali reflects its broader commitment to responsible and impactful content creation. The initiative aims to empower creators across Asia to grow as educators, storytellers, and thought leaders—bit by bit.

Strengthening the Ecosystem

The theme of CCCC Bali 2025, “Building Crypto Ark, Bit by Bit,” embodies a long-term vision for a robust and sustainable content ecosystem. Much like the precision and strategy favored by Mandarin-speaking traders, this Crypto Ark is being constructed with knowledge, integrity, and collaboration. Bybit’s focus remains on laying a resilient foundation for the future of crypto content.

With a curated, high-touch environment and a program rooted in education, collaboration, and growth, CCCC Bali 2025 marks a significant moment at the crossroads of crypto, content, and culture. And Bybit is honored to be helping build it—bit by bit.

About Bybit

Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open, and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.

For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: media@bybit.com
For updates, please follow: Bybit’s Communities and Social Media

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SOURCE Bybit

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Incuvio Health Launches to Help Payers and Providers Win in Value-Based Care

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LOS ANGELES, April 7, 2025 /PRNewswire/ — After years of navigating the complexities of payer systems, provider networks, and health tech innovation, a group of healthcare operators is launching something different: Incuvio Health, a technology consulting and advisory firm that blends real-world expertise with artificial intelligence (AI) and scalable implementation, to help payers, providers, and sponsors succeed in value-based care (VBC).

Founder and Managing Partner of Incuvio Health Unmesh Srivastava has spent his career leading digital transformation from inside the healthcare system. As a former CTO at Clever Care Health Plan, P3 Health Partners, and Optum, Srivastava saw firsthand how strategy often stalled at execution and how most consulting firms like the Big 4 delivered frameworks, not outcomes.

“I’ve lived the challenges that payers and providers face,” said Srivastava. “Technology infrastructure that doesn’t communicate properly, outdated data, strategy decks that sit untouched. We’re flipping the model by using our deep subject-matter expertise to guide decisions and AI to move faster, smarter, and more precisely.”

Incuvio believes people designing the future of healthcare should be those who have built it. The company comprises former executives from payers, provider networks, and private equity-backed healthcare organizations, including Co-Founder and CTO Christopher Pempsell, COO Alexis Pezzullo, SVP of Strategy and Transformation Kaliegh Taylor, VP of Data Engineering Ken Tennison, and VP of Program Delivery Wendy Masloski.

Incuvio taps into its industry expert network of CEOs and ex-leaders who have driven large-scale transformation, including Senior Clinical Advisor Dr. Mona Bambha, and VBC Strategic Advisor Leigh Hutchins.

Incuvio’s experts use proprietary tools and machine learning to uncover hidden inefficiencies, data silos, and broken workflows. From discovery, the firm builds predictive impact models and forecasting outcomes before investment. Where most firms stop, Incuvio goes further: driving scaled implementation to ensure measurable value. 

Since its soft launch, Incuvio has been tapped by leading payers, multi-specialty provider groups, and health tech companies to lead transformations in VBC enablement, population health modernization, contract optimization, and AI-powered risk and cost analytics.

About Incuvio Health

Incuvio Health is a healthcare technology consulting and advisory firm built by operators, not consultants. The company empowers payers, providers, and sponsors to succeed in VBC through intelligent strategy, deep domain expertise, AI-powered insights, and scalable execution. Incuvio closes the gap between what healthcare needs and what it gets, with outcomes that speak for themselves. To learn more, visit https://incuvio.com/.

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SOURCE Incuvio Health

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SoapBox Labs Earns Digital Promise’s Responsibly Designed AI Product Certification, Recognized for Innovative Integration of Their AI Voice Technology

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NORTH BILLERICA, Mass.  , April 7, 2025 /PRNewswire/ — SoapBox Labs, a Curriculum Associates company, has been awarded Digital Promise’s prestigious Responsibly Designed AI product certification for its groundbreaking use of speech recognition technology in education. This certification recognizes SoapBox Labs’ commitment to developing AI-driven solutions that support secure and effective learning experiences for students and educators and is the second Digital Promise certification earned by the company for its development of responsible AI.  

Curriculum Associates is currently working at integrating SoapBox’s voice engine with its award-winning assessment and instruction platform, i-Ready. This integration will allow children to read aloud while the technology listens, analyzes, and provides timely feedback on pronunciation, fluency, and accuracy. For teachers, this will mean more actionable insights into individual student needs and more time for personalized instruction. Designed for young voices and noisy classrooms, the SoapBox voice engine has been built to understand children’s wide-ranging speech patterns and accents. 

Curriculum Associates is engaged in an intentional co-design approach to AI, working hand in hand with educators and students so that solutions are tailored to support their daily work and are underpinned by evidence-based, research-driven practices.  

“This recognition for SoapBox’s voice engine is more than an accolade—it’s validation that AI in education must be designed with responsibility as its foundation,” said Kelly Sia, CEO of Curriculum Associates. “AI tailored specifically for the classroom will further accelerate learning for all readers and provide multilingual students new pathways for expression, all while giving teachers back precious instructional time.” 

Digital Promise’s certification process was co-designed with 39 district leaders across states, instructional technologists and other school staff, AI researchers, and edtech product teams. The designers prioritized fairness, security, and student-centered outcomes when evaluating AI tools. By earning this certification, SoapBox Labs strengthens Curriculum Associates’ position as a trusted partner, delivering ethical, transparent, and effective AI-powered educational solutions to the schools and districts we serve across the country. 

“This certification celebrates our passion for building AI that illuminates new learning pathways for every student—tools that recognize individual learning styles, safeguard privacy, and transform rigorous research into classroom applications that teachers can trust with confidence,” said Amelia Kelly, CTO of SoapBox Labs. 

Digital Promise’s rigorous evaluation criteria include data privacy, algorithmic fairness, transparency, and proven educational effectiveness. These criteria ensure that only AI solutions meeting the highest ethical standards receive this distinction. Educators and district leaders will now have a benchmark when selecting ethical AI products to use in their classrooms.   

For more information about Curriculum Associates and its AI-powered educational solutions, visit CurriculumAssociates.com 

About Curriculum Associates 

Founded in 1969, Curriculum Associates is a mission-driven education company dedicated to helping every child achieve grade-level success in literacy and math. Our flagship program, i-Ready®, serves more than 13 million students in the US—one-third of all Grades K–8 learners. Curriculum Associates offers data and research-driven curriculum and assessment programs alongside world-class implementation support and services. Our goal is to embed and extend the great work of teachers and to partner with educators in improving learning outcomes for all students. 

Contact:
Zsofia McMullin 
(207) 294-1896 
press@cainc.com

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SOURCE Curriculum Associates, LLC

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