Provided by Business Wire
Arco Reports First Quarter 2021 Results
Arco delivers healthy operating results in 1Q21, with net revenue 27% higher YoY, and adjusted EBITDA margin of 35.7%
Arco Platform Limited, or Arco or Company (Nasdaq: ARCE), today reported financial and operating results for the first quarter ended March 31, 2021.
“We delivered solid operating results in the first quarter of 2021 and we are encouraged by the early results from our sales cycle for the 2022 school year, as we once again benefit from industry-leading results from our partner schools at the national exam (ENEM) and continue to improve our platform and innovate. We are also excited with the initial results from our redesigned cross-sell initiative, which will help further accelerate the sale of supplemental products and leverage the scale of our Core segment. We note, however, that the COVID-19 pandemic is not yet fully behind us. We see risk of revenue recognition in 2021 to be
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Arco Platform Limited, or Arco (Nasdaq: ARCE), today announced that it has acquired Me Salva!, an online educational solution that prepares students to be admitted to the best universities in Brazil.
“We are excited to add Me Salva! to our portfolio and with the opportunities ahead on test prep and tutoring. This acquisition enables Arco to start providing a high quality solution at affordable prices to students that attend public schools, a segment that historically faces a large opportunity gap to the private sector in Brazil. Additionally, we are thrilled that such an inspiring founder has decided to be part of our company. Together with a highly talented, entrepreneurial team, Miguel has created from scratch a disruptive solution that offers engaging content, empowers students and improves their chances of being admitted to the best universities in the country,” said Ari de Sá Neto, CEO and foun