v3.26.1
Net Operating Revenue
 12 Months Ended
Dec. 31, 2025
Net Operating Revenue [Abstract]  
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, 2025, 2024 and 2023:

 

   2025   2024   2023 
Gross operating revenue   212,135    206,739    181,725 
Revenue deductions:               
Cancellations and returns   (2,658)   (1,777)   (1,353)
Taxes on services   (12,739)   (11,680)   (11,387)
Total revenue deductions   (15,397)   (13,457)   (12,740)
Net operating revenue   196,738    193,282    168,985 

 

Disaggregation of net operating revenue for the years ended December 31, 2025, 2024 and 2023 is as follows:

 

   2025   2024   2023 
Platform subscription service   193,032    187,109    158,678 
Cancellations, returns and taxes on services   (13,683)   (11,989)   (10,692)
Revenue from platform subscription service   179,349    175,120    147,986 
Data analytics service   14,266    10,650    13,422 
Cancellations, returns and taxes on services   (1,450)   (1,062)   (1,478)
Revenue from data analytics service   12,816    9,588    11,944 
Set-up and service   3,649    7,593    8,661 
Cancellations, returns and taxes on services   (196)   (326)   (514)
Revenue from set-up and service   3,453    7,267    8,147 
Other revenue   1,188    1,386    963 
Cancellations, returns and taxes on services   (68)   (79)   (55)
Other revenue   1,120    1,307    908 
Total net operating revenue   196,738    193,282    168,985 

 

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, 2025, and 2024, is as follows:

 

At January 1, 2024   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 
Decrease from transfers to accounts receivable   (4,735)
Increase from changes based on work in progress   1,836 
At December 31, 2025   1,837 

The deferred revenue activity as of December 31, 2025, and 2024, is as follows:

 

At January 1, 2024   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 
Increase in deferred revenue in the current year   9,370 
Revenue recognized during the current year   (9,184)
At December 31, 2025   3,925 

 

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.