Q4 2025 Smartfit Escola de Ginastica e Danca SA Earnings Call (English, Portuguese) Transcript
Key Points
- Smartfit Escola DE Ginastica E Danca SA (BSP:SMFT3) achieved a record number of 341 new unit openings in 2025, marking the highest in the company's history.
- The company ended 2025 with 2,084 clubs in operation across 16 countries, representing a 20% growth compared to the previous year.
- Smartfit's TotalPass platform saw significant growth, with a 52% increase in partner health clubs in Brazil and a 46% increase in Mexico.
- The company reported a 30% increase in net revenue for 2025, surpassing BRL7 billion for the first time.
- Smartfit's international operations now account for 63% of the revenue from company-owned clubs, indicating successful global expansion.
- The gross cash margin slightly decreased by 0.2 percentage points in Q4 2025 due to increased expenses related to new unit openings.
- The company's adjusted net debt increased by BRL993 million in 2025, reflecting significant investments in expansion.
- There was a noted impact on profitability from the opening of new units, which are still undergoing ramp-up and have lower margins.
- The company faces challenges in closing the financial gap in TotalPass, despite its growth in market share.
- Smartfit's operations in Colombia are impacted by a significant increase in the minimum wage, which could affect cost structures.
Good morning, everyone. Welcome to Smart Fit conference call to announce the results of the fourth quarter of 2025. Introducing myself, for those who don't know me yet, I am Matheus Nascimento, Investor Relations Manager. Before we start, a brief message for those who choose to follow the conference in English. Good morning, everyone.
Welcome to Smart Fit's conference call to discuss the results of the fourth quarter of 2025. This call will be translated into English. (Event Instructions) Today with us, we have Mr. Edgard Corona, Founder and Chairman; Diogo Corona, CEO; Jose Luis Rizzardo, CFO and IRO of Smart Fit. (Event Instructions)
As a reminder that the slide deck that will guide the presentation is available at the Investor Relations website of Smart Fit website at CVM and on webinar platform. Before proceeding, I would like to clarify that any statements made during this conference call regarding the company's business prospects operational and financial projections and goals, as well as
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