| Net operating revenue |
Note 20. Net operating revenue
The Group recognizes operating
revenue from its B2B SaaS platform where revenues are disaggregated as SaaS platform subscription services, data analytics service, and
set-up and other services. Revenues are recorded net of applicable municipal service taxes (ISS) and federal vat (PIS and COFINS) taxes,
as well as contract cancellations and returns.
Below is a summary of net
operating revenue for the years ended December 31, 2024, 2023 and 2022:
| | |
2024 | | |
2023 | | |
2022 | |
| Gross operating revenue | |
| 206,739 | | |
| 181,725 | | |
| 135,643 | |
| Revenue deductions: | |
| | | |
| | | |
| | |
| Cancellations and returns | |
| (1,777 | ) | |
| (1,353 | ) | |
| (1,822 | ) |
| Taxes on services | |
| (11,680 | ) | |
| (11,387 | ) | |
| (9,276 | ) |
| Total revenue deductions | |
| (13,457 | ) | |
| (12,740 | ) | |
| (11,098 | ) |
| Net operating revenue | |
| 193,282 | | |
| 168,985 | | |
| 124,545 | |
Disaggregation of net operating
revenue for the years ended December 31, 2024, 2023 and 2022 is as follows:
| | |
2024 | | |
2023 | | |
2022 | |
| Platform subscription service | |
| 187,109 | | |
| 158,678 | | |
| 114,556 | |
| Cancellations, returns and taxes on services | |
| (11,989 | ) | |
| (10,692 | ) | |
| (9,004 | ) |
| Revenue from platform subscription service | |
| 175,120 | | |
| 147,986 | | |
| 105,552 | |
| Data analytics service | |
| 10,650 | | |
| 13,422 | | |
| 15,644 | |
| Cancellations, returns and taxes on services | |
| (1,062 | ) | |
| (1,478 | ) | |
| (1,760 | ) |
| Revenue from data analytics service | |
| 9,588 | | |
| 11,944 | | |
| 13,884 | |
| Set-up and service | |
| 7,593 | | |
| 8,661 | | |
| 4,733 | |
| Cancellations, returns and taxes on services | |
| (326 | ) | |
| (514 | ) | |
| (307 | ) |
| Revenue from set-up and service | |
| 7,267 | | |
| 8,147 | | |
| 4,426 | |
| Other revenue | |
| 1,386 | | |
| 963 | | |
| 710 | |
| Cancellations, returns and taxes on services | |
| (79 | ) | |
| (55 | ) | |
| (27 | ) |
| Other revenue | |
| 1,307 | | |
| 908 | | |
| 683 | |
| Total net operating revenue | |
| 193,282 | | |
| 168,985 | | |
| 124,545 | |
Contract assets and deferred revenue related
to contracts with customers
The Group has recognized
the following contract assets (included within trade accounts receivable) and deferred revenue related to contracts with customers.
The contract asset activity as of December 31, 2024, 2023, and 2022,
is as follows:
| At January 1, 2022 | |
| 3,057 | |
| Decrease from transfers to accounts receivable | |
| (3,057 | ) |
| Increase from changes based on work in progress | |
| 2,272 | |
| At December 31, 2022 | |
| 2,272 | |
| Decrease from transfers to accounts receivable | |
| (2,272 | ) |
| Increase from changes based on work in progress | |
| 4,862 | |
| At December 31, 2023 | |
| 4,862 | |
| Decrease from transfers to accounts receivable | |
| (4,798 | ) |
| Increase from changes based on work in progress | |
| 4,672 | |
| At December 31, 2024 | |
| 4,736 | |
The deferred revenue activity as of December 31, 2024, 2023, and 2022,
is as follows:
| At January 1, 2022 | |
| 4,368 | |
| Increase in deferred revenue in the current year | |
| 9,566 | |
| Revenue recognized during the current year | |
| (10,113 | ) |
| At December 31, 2022 | |
| 3,821 | |
| Increase in deferred revenue in the current year | |
| 9,845 | |
| Revenue recognized during the current year | |
| (10,521 | ) |
| At December 31, 2023 | |
| 3,145 | |
| Increase in deferred revenue in the current year | |
| 24,095 | |
| Revenue recognized during the current year | |
| (23,501 | ) |
| At December 31, 2024 | |
| 3,739 | |
Deferred revenue is allocated
to remaining performance obligations and represents contracted revenue that has not yet been recognized, including unearned revenue and
amounts that have been invoiced and will be recognized as revenue in future periods. The Company expects to recognize all revenue over
the next 12 months and is classified as other current liabilities in the consolidated statement of financial position.
|