The quarterly income represents 75% of the company's gross income. With results superior to the same period of the previous year, the company has maintained its consistency in growth and profitability, registering an increase of 41.8% in net profit
Senior Sistemas, a reference in technological solutions for business management in the country and in Latin America, recorded in the first quarter of the year a consolidated result higher than that presented in the same period of 2022.
Net Revenue grew by 18.3% totaling R$ 198 million. Recurring Revenue adds up to R$167.7 million with growth of 27.9%, which represents 75% of the Company's gross revenue. This growth was boosted mainly by revenue from Cloud, which grew by R$ 22.5 million or 38.7% compared to 1Q22 and represents 48.1% of the quarter's gross recurring revenue.
In addition to these financial results, we maintained consistent growth in profitability indicators with an increase of 26.2% in EBITDA, with an EBITDA Margin of 29.1% and growth of 41.8% in net income ending the quarter at R$ 38 million.
“We started 2023 maintaining our growth through operations in different strategic segments, investing in innovation and technology to strengthen our Management, Fintech and Platform capabilities, thus boosting our customers and partners in the transformation of their business management”, highlighted Carlênio Castelo Branco, CEO of Senior.
In the Management capacity, we released the integration of our CRM product with WhatsApp and as of this quarter, with the incorporation of artificial intelligence to the solution, our customers will be able to identify the best market opportunities for their products, making their commercial journey even more fluid, intelligent and assertive. For logistics solutions, we launched Senior AI Logistics, functionality that produces insights into opportunities for optimizing operational costs through artificial intelligence for the entire supply chain of companies. And in HCM we create product verticals Payroll, Talent and Talent Acquisition to serve our customers in a more specialized way, reinforcing our position of reference in this line of solutions.
At our Fintech Wiipo, we grew our client and user base and expanded our portfolio with B2C products. We already have 1.8 million users connected to our app in almost 2 thousand active customers, we transacted R$ 29 million in flexible benefits, which represents an eightfold growth compared to 1Q22, and we offered R$ 8.2 million in credits to individual in the quarter.
In Platform, we worked on consolidating the new business unit with the objective of scaling our X ecosystem. XPlatform solutions achieved 62% of revenue growth, compared to 1Q22, and already have more than 900 customers.
“We believe that our strategy based on an ecosystem of solutions focused on strategic segments, the capillarity of operations in Latin America and the resilience of the business model has contributed to the Company's growth and profitability over the last two decades and enables us to expand opportunities for new addressable markets says the CEO of Senior.
To view the full report, visit https://bit.ly/Senior-1T23
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