Arco Platform, an educational software company that offers technology, services and content from kindergarten to high school, has announced a third-quarter 2021 loss of 144.1 million reais (£19.3 million), compared to loss of 27.5 million reais reported for the third quarter of 2020.
Net revenue for the quarter was 183.3 million reais, down from 208.7 million reais reported for Q3 2020.
The São Paulo-based company also reported results for the first nine months of 2021. Its loss for the period was 152.3 million reais, compared to a loss of 7.4 million reais reported for the first nine months of last year. Revenue for the nine-month period was 771.2 million reais, up from 705.2 million reais reported for the first nine months of 2020.
Arco founder and chief executive Ari de Sá Cavalcante Neto said: “Operating results for the third quarter conclude the 2021 commercial cycle and we leave behind a challenging period not only for us, but for our partner schools, teachers, parents and students. As we look ahead, we are excited about the positive results achieved for the 2022 commercial cycle as schools normalise their operations, students go back to school, and we evolve our product for all stakeholders to have the best learning experience. The organic growth for our core solutions for the 2022 commercial cycle returned to pre-pandemic levels, while average retention remained at high levels and average price increase was slightly above expected inflation for 2022.”
Date published: 30 November 2021