StoneCo announced Tuesday a change in its accounting policy for recognizing revenue generated from selling services to new customers, but said the decision would lead to no changes in the company’s earnings forecast for the year.
The payments company said the change will be made to the company’s balance sheet for the first quarter and that it affects revenue generated from commissions when a merchant pays a non-refundable fee when signing a contract for certain types of services. Under the new policy, the recognition of such revenues will be deferred over the expected period in which the merchant remains a customer of the company.
StoneCo said that in 2023 these revenues will amount to 316 million reais.
According to the company, the policy change will reduce transaction revenues by approximately 60 to 70 million reais in the first quarter and between 160 and 200 million reais in 2024.
Source: Terra
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