PagSeguro Digital Ltd. (NYSE:PAGS) Q2 2019 Earnings Conference Call Transcript
Aug 15, 2019 • 05:30 pm ET
Hello, everyone, and thank you for waiting. Welcome to PagSeguro's 2Q19 Results Conference call. This event is being recorded and all participants will be in a listen-only mode during the company's presentation. After PagSeguro's remarks there will be a question-and-answer session. At that time, further instructions will be given. [Operator Instructions] This event is also being broadcast live via webcast and may be accessed through PagSeguro's website at investors.pagseguro.com, where the presentation is also available. Participants may view the slides in any order they wish. The replay will be available shortly after the event is concluded. Those following the presentation via webcast may post their questions on PagSeguro's website.
Before proceeding, let me mention that any forward-looking statements included in the presentation or mentioned on this conference call are based on their currently available information and PagSeguro's current assumptions, expectations and projections about future events. While PagSeguro believes that their assumptions, expectations and projections are reasonable in view of currently available information, you are cautioned not to place undue reliance on these forward-looking statements. Actual results may differ materially from those included in PagSeguro's presentation or discussed on this conference call for a variety of reasons including those described in the Forward-Looking Statements and Risk Factors sections of PagSeguro's registration statement on Form F-1 and other filings with the Securities and Exchange Commission, which are available on PagSeguro's Investor Relations website.
Finally, I would like to remind you that during this conference call, the company may discuss some non-GAAP measures. For more details, the foregoing non-GAAP measures and the reconciliation of these non-GAAP financial measures to the most directly comparable GAAP measures are presented in the last page of this webcast presentation.
Now, I would turn the conference over to Mr. Ricardo Dutra, Chief Executive Officer. Mr Dutra, you may begin your presentation.
Ricardo Dutra da Silva
Hello, everyone, and welcome to our second quarter's results conference call. Tonight, I have here with me Eduardo Alcaro, our Chief Financial Officer; and Andre Cazotto, our Head of Investor Relations.
Before I get started, I would like to say a few words about competition. Although we have been watching aggressive competition constantly pulling trying to replicate our business model, we continue to deliver strong results. We would like to reiterate that we continue to focus on the long tail market, taking advantage of being the first mover with the best and most complete digital banking ecosystem and by having non-replicable strengths such as UOL online distribution.We continue to operate in an untouched market. Still today, 80% [Phonetic] of the new devices are sold for merchants that do not accept cards. We do not play the zero-sum game. Competition does every day in their useless struggle. Our price fits all and is in the platform, and there is no negotiation with the platform.
Therefore we have delivered in this quarter, the same consistent performance, we have been delivering since our IPO, healthy net adds growth and a stable decease. In addition, we are now seeing higher adoption of