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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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Axon Global CEO Israel Martinez Named Security Expert of the Year at HMG Strategy Summit in Dallas

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Israel Martinez, CEO and Global CTO of Axon Global, was named Security Expert of the Year at the HMG Strategy Summit in Dallas, the largest network of CIOs and CISOs in the U.S. with over 300,000 technology executives globally. Martinez was honored for his groundbreaking work in AI-driven cybersecurity and a 20-year track record of zero reportable breaches across high-risk, high-impact environments. He also spoke on a featured panel addressing the escalating threat of geopolitical cyberattacks and the critical need for global cyber resilience.

DALLAS, April 4, 2025 /PRNewswire-PRWeb/ — Israel Martinez, CEO and Global CTO of Axon Global, was honored with the HMG Global Leadership Institute Award for Security Expert of the Year at the HMG Strategy Executive Leadership Summit in Dallas. The event brought together top technology executives from across the country for a day of thought leadership, innovation, and strategic insights.

“Israel is fearlessly committed to innovation and integrity—and when lives are on the line, his team shows up.” — August Pelliccio, Executive Editor, Digital, HMG Strategy,

Martinez also took the stage as a featured speaker during the Executive Panel: Securing the Future Against Geopolitical Cyber Risks, joining Mignona Cote (CISO, Infor Global Solutions) and Art Harvey (CISO, Dovenmuehle) for a dynamic conversation on the rising threat of state-sponsored cyberattacks and the critical importance of international collaboration, proactive threat intelligence, and executive-led cyber resilience.

During the award presentation, HMG Strategy highlighted Martinez’s exceptional track record:

“Israel has helped protect everything from billion-dollar enterprises to space programs, with a track record of zero reportable breaches—by the way—across twenty years and countless high-risk clients.

Right now he’s pioneering an AI agent-driven model, building out a team of two hundred LLM-powered experts that already compete and win against the best in the world.

How’s this for a case study? One of the teams he worked with monetized IT for the Olympics, turning it into a profit engine rather than just a cost center. They increased media revenue by 300% and eliminated redundant global oversight.

Israel is fearlessly committed to innovation and integrity, and when lives are on the line, his team shows up. As one Commander put it, ‘Thank you for pulling so many technology resources together to rescue my daughter.’

There are only so many clips I can share in the brief time we have on stage, but I hope what I’ve shared expresses some of the gravity of the work Israel has done—and how deserving he is of this honor.”

HMG Strategy is recognized as the largest network of CIOs and CISOs in the United States, with over 300,000 IT executives globally. Its Executive Leadership Summits are known for convening top-tier professionals to tackle the most urgent challenges in technology and business.

Media Contact

Kaitlyn Procter, Axon Global, 1 2027055053, kaitlynpr@axoncyber.com, https://axoncyber.com

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Ramki Sankaranarayanan Receives EGA’s Hermes Lifetime Achievement Award for Pioneering Innovation in Global Content Operations

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LOS ANGELES, April 4, 2025 /CNW/ — The Entertainment Globalization Association (EGA) has honored Ramki Sankaranarayanan, Founder and Global CEO of Prime Focus Technologies (PFT), with the 2025 Hermes Lifetime Achievement Award. The accolade recognizes Ramki’s visionary leadership and transformative impact on entertainment localization and media technology worldwide.

Presented at the prestigious Hermes Awards for Entertainment Localization Excellence, the honor celebrates Ramki’s role in reimagining global media supply chains—seamlessly blending AI innovation with human creativity to enable scalable, culturally authentic storytelling across geographies.

A trailblazer in media tech for over two decades, Ramki spearheaded the launch of the industry’s first Media ERP, laying the foundation for cloud-based Supply Chain that subsequently was articulated within the MovieLabs 2030 Vision. Under his leadership, PFT has continuously pushed the boundaries of localization—leveraging AI-assisted subtitling, dubbing, and metadata solutions through its CLEAR® and CLEAR® AI platforms. Early innovations such as automated subtitle retiming and hybrid AI pipelines have redefined scale and speed in global content delivery.

PFT’s localization capabilities span an impressive 150 unique languages globally, including 92 European, 24 African, 18 from the Indian subcontinent, 10 East Asian, and 6 Central Asian languages, showcasing unparalleled depth and reach. Today, PFT supports over 2 million subtitled minutes and 1 million dubbed minutes annually for leading platforms including Star TV, Netflix, Disney+, Amazon Prime Video, Warner Bros. Discovery, Crunchyroll, etc.

With 13+ patents and seven NAB Product of the Year Awards, including a 2023 win for AI-led localization, CLEAR® AI exemplifies contemporary Agentic AI, defined by its autonomous Localization Agents capable of independent decision-making, real-time collaboration, and continuous improvement. CLEAR® AI leverages Multi-Agent Collaboration, orchestrating agents specialized in several tasks across content lifecycle. This market-defining approach dramatically improves accuracy, accelerates time-to-market, and reduces manual intervention, reflecting a strategic shift towards intelligent, collaborative AI in localization.

PFT’s latest breakthrough, CLEAR® AI Content Studio, further exemplifies this momentum by turning dormant archives into dynamic, revenue-generating content libraries.

“This award is deeply meaningful,” said Ramki. “It honors not just my journey, but the passion and relentless innovation of our PFT team & the pivotal role clients have played in embracing the innovation—and the vibrant localization community driving global storytelling forward.”

EGA’s recognition underscores the rising strategic importance of AI-led, human-enhanced localization—and the visionaries who are shaping its future.

About the Entertainment Globalization Association (EGA)
The EGA is the leading professional body for executives driving content globalization. Its Hermes Awards celebrate excellence in localization and the innovators behind cross-cultural storytelling.

About Prime Focus Technologies (PFT)
Prime Focus Technologies (PFT) is the creator of CLEAR®. It offers streaming platforms, studios, and broadcasters AI technology and media services powered by the cloud that help them enable creativity, efficiency, and, most importantly, revenue generation. PFT works with major companies like Channel 4, ITV, Sinclair Broadcast Group, A&E Networks, Warner Bros. Discovery, Paramount, Crunchyroll, Insight TV, JioStar, BCCI, Tegna, Amazon MGM Studios, and more.

For more information, visit: www.primefocustechnologies.com.

Press Contact
T Shobhana
Senior Vice President and Global Head of Marketing
Prime Focus Technologies
Los Angeles, CA
t.shobhana@primefocus.com

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S’moresUp Launches “It’s a Family Thing!” to Help Moms Get Their Pink Back This Mother’s Day

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From the Team Behind Two-Time App of the Day S’moresUp, Comes a Smarter Family Management App

LOS ALTOS, Calif., April 4, 2025 /PRNewswire/ — S’moresUp, the trusted family management platform with over 300,000 users, announces its next evolution: It’s a Family Thing! (IAFT)—just in time for Mother’s Day.

Inspired by the phrase “getting your pink back,” IAFT is designed to help moms reclaim their energy and joy while navigating the invisible labor of parenting. Like flamingos that regain their color with care, moms too can thrive with the right support.

S’moresUp has twice been named Apple’s App of the Day. IAFT builds on that success with AI-powered tools, personalized insights, and family-focused features made specifically for today’s overwhelmed parents.

Developed by a single mom and a generative AI technologist—both former PayPal leaders—IAFT reflects seven years of insights from the S’moresUp community.

Key Features:

AI Family Agent: A virtual assistant for managing chores, schedules, and planning.Parenting Weather (PUP Score): Gauges parenting stress and suggests solutions.Chore & Reward System: Includes Photo Proof, Late Penalties, and gamified tracking.Family Analytics: Tracks skill development and offers personalized support.Mood Management: Encourages emotional check-ins and open family communication.Campfire: A private space for sharing updates, celebrations, and memories.AI-Driven Planning Tools: Features like “How To Do Today” and “Weekly Plan.”

More than a digital organizer, IAFT is a lifeline – helping moms reduce decision fatigue, prioritize self-care, and restore balance at home.

Pricing starts at just $3.49/month, with premium features available up to $49.95/month.

Available now on the Apple App Store and Google Play.

“Working mothers are constantly fighting an uphill battle to balance career and home life,” says Priya Rajendran, CEO and co-founder. “IAFT is here to do the heavy lifting so moms can breathe again.”

“With IAFT, we’re doubling down on innovation and family wellness,” adds Reeves Xavier, CTO and co-founder. “This is a lifeline for the modern family.”

About S’moresUp

S’moresUp and now It’s a Family Thing! are family management solutions created by Priya Rajendran and Reeves Xavier, technologists and parents with a passion for empowering families. With experience at companies like PayPal, Microsoft, and Intuit, they bring heart, humor, and cutting-edge AI to parenting. S’moresUp’s mission is simple: Raise independent, responsible, and joyful kids—while making parenting a little less exhausting.

Visit www.smoresup.com

Contact: Ann Dunning, ann@amurraypr.com 

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SOURCE S’moresUp

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