Positivo Tecnologia Strategy Gains Traction as IT Services Pivot Drives 31% Jump in Q1 Adjusted EBITDA

Positivo Tecnologia (POSI3), one of Brazil’s largest tech manufacturers, reported a 31% year-over-year (YoY) increase in Adjusted EBITDA for the first quarter of 2026, reaching R$69.7 million, as the company’s strategic pivot toward higher-margin IT Infrastructure, Services, and Solutions (ISS) gains traction. The sharp improvement in operational performance comes as the company seeks to reduce its dependence on the traditionally lower-margin retail segment, shifting its focus to corporate and public sector contracts.

The mechanism behind the growth is a significant change in the company’s revenue mix, which saw the EBITDA margin rise by two percentage points to 9.4% in the quarter. Management attributed the improved profitability directly to the greater participation of the IT Infrastructure segment, which carries better margins than the portfolio average. While net revenue advanced a more modest 3.6% YoY to R$741.4 million, the company demonstrated operational leverage in its higher-value offerings. Despite the strong operational metrics, Positivo still registered a net loss of R$12.3 million for the period, an improvement of 2.4% from the prior year's loss, with a higher financial result deficit partially offsetting the gains from operations.

Fueling the acceleration of this strategic shift is a significant credit line approved by the Banco Nacional de Desenvolvimento Econômico e Social (BNDES). The development bank authorized R$300 million in financing for Positivo's 2026-2028 Innovation Plan, which covers 96% of the total R$311.75 million investment. The funds are earmarked for expanding the company’s core strategy: incorporating artificial intelligence (AI) into products and services, and intensifying its focus on IT infrastructure solutions for the commercial and public sectors.

The new capital will support Positivo’s push into high-value solutions, driving the strategic focus on corporate AI, IT infrastructure, and new business models like Hardware as a Service (HaaS). This emphasis on advanced solutions is what investors are watching for continued margin expansion in the coming quarters. The next concrete indicator of the strategic success will be the company’s second-quarter earnings report, where investors will scrutinize the continued revenue and profitability contribution from the ISS segment and the initial execution of the BNDES-backed projects in the corporate and government space.