Valid ended the second quarter of 2026 with growth in key financial indicators compared to the previous year. Net revenue reached R$ 506 million, up 3%; EBITDA totaled R$ 112 million, a 22% increase; and recurring net income reached R$ 38 million, a comparable growth of 14%.
The performance reflects the complementarity between physical and digital businesses, as well as the continuation of the operational efficiency agenda. Operating cash flow was R$ 32 million in the quarter.
“EBITDA growth exceeding revenue demonstrates the consistency of execution and Valid's ability to combine efficiency in consolidated businesses with the expansion of digital solutions. We continue to invest in technology to make relationships between companies, governments, and citizens more secure,” says Ilson Bressan, CEO of Valid.
Performance by segment
In the Identification sector, revenue reached R$ 253 million, a 2% increase compared to the previous quarter. This result was supported by the accelerated issuance of the National Identity Card (CIN), with the progress of projects in Bahia, São Paulo, and Minas Gerais, and by initiatives such as the Brazilian National Teacher Card (CNDB).
In the Pay vertical, revenue reached R$102 million, a 14% increase, driven by price dynamics and increased volumes in bank cards in Brazil. In Mobile, revenue totaled R$150 million, with a 39% volume expansion, favored by seasonal recovery and higher demand for SIM cards in the EMEAA region, partially offset by exchange rate pressure.
Digital Government, which brings together interoperability solutions, was the main driver of the Company's revenue growth in the period, with an increase of 12% compared to the second quarter of 2025.
Acquisitions strengthen the Integrated Digital Security Platform
Valid also announced the acquisitions of HST Card Technology and Diazero. These moves expand the capabilities of its Integrated Digital Security Platform in payments, identity, fraud prevention, and cybersecurity.
HST, acquired for R$73 million, adds tokenization, transaction authentication, and fraud prevention technologies. The solutions protect sensitive payment data and support processes such as issuing and managing digital credentials, e-commerce purchases, digital wallets, and contactless payments.
Diazero strengthens its cybersecurity offering with services for network protection, vulnerability analysis, monitoring, and incident response. The company uses artificial intelligence and machine learning to identify emerging threats and automate alert triage.
With these acquisitions, Valid is advancing in building a modular offering that integrates digital identity, biometrics, KYC/KYB, fraud prevention, tokenization, and cybersecurity. This strategy is part of the portfolio transition initiated in 2022 and the goal of increasing the share of digital solutions to 50% of revenue by 2030.
