PagSeguro Digital Ltd. (NYSE:PAGS) Q2 2020 Earnings Conference Call - Final Transcript

Aug 27, 2020 • 05:30 pm ET


PagSeguro Digital Ltd. (NYSE:PAGS) Q2 2020 Earnings Conference Call - Final Transcript


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Hello, everyone, and thank you for waiting. Welcome to PagSeguro's Second Quarter 2020 Results Conference Call. [Operator Instructions]. 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 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 statements included in the presentation or mentioned on this conference call are based on currently available information and PagSeguro's current 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 20(F) and other filings with the Securities and Exchange Commission, which are available on PagSeguro Investor Relations website.

Finally, I would like to remind you that during this conference call, the Company may discuss 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 will turn the conference over to Mr. Ricardo Dutra, CEO. Mr. Dutra, you may begin your presentation.

Ricardo Dutra da Silva

Good evening, everyone. And thanks for joining our second quarter results conference call. Tonight, I have here with me Eduardo Alcaro, our Chief Financial Officer; and Andre Cazotto, our Head of Investor Relations. We hope you and your families are well and safe. Everybody knows the past few months has been challenging, and we remain focused on supporting our clients, our business partners, the society and our employees.

By the way, I would like to thank you again all PagBank PagSeguro team who have been supporting our businesses from their homes in the last months. Thank you very much, PagBank PagSeguro team. As we will see in the next slides, even with all impacts generated by COVID-19, our results show our business is exceptionally resilient. Certainly, there were numbers that declined in the quarter, however, the most important operational KPIs such as total payment volumes, net adds, PagBank users and so on have been improving each month throughout the quarter and are growing year over year.

Finally, important to mention we have developed features and products and acquired companies to build a complete and unique ecosystem to address the needs of our clients. Regardless of the current moment, we are confident in our strategy and the opportunities ahead of us. We keep investing to grow the Company and, at the same time, keep our profitability levels. That said,