3Q21

SPREADSHEETS AND FUNDAMENTALS

BALANCE SHEET 2017 2018 2019 1Q20
ASSETS
Current Assets
Cash and cash equivalents 1,228 4,310 4,336 11,600
Financial investments 0 0 68 68
Derivative financial instruments 0 0 32 2,195
Accounts receivable 5,339 6,266 7,745 5,034
Inventories 7,023 8,904 8,822 1,528
Recoverable taxes 47 47 47 11,609
Related parts 5,125 0 0 47
Other currents assets 483 999 781 476
Total current assets 19,245 20,526 21,831 32,557

Non-current assets
Judicial deposits 1,382 1,388 1,592 1,624
Recoverable Taxes 0 0 0 0
Deferred income tax and social contribution 0 0 0 0
Right of use - finance lease 0 0 2,866 2,668
Property and equipment 2,119 2,288 2,886 3,397
Intangible assets 205 918 1,505 2,106
Total non-current assets 3,706 4,594 8,849 9,795
TOTAL ASSETS 22,951 25,120 30,680 42,352

LIABILITIES
Current liabilities
Suppliers 15,114 11,755 8,375 10,939
Labor liabilities 2,105 2,926 4,256 4,376
Loans 0 0 5,200 13,090
Lease liabilities 0 0 2,195 3,040
Deferred revenue 11,544 12,254 11,827 15,083
Stock option plan 0 0 0 0
Tax liabilities 1,869 1,370 2,351 260
Income tax and social contribution 451 678 0 1,170
Related parts 0 0 0 0
Total current liabilities 31,083 28,983 34,204 47,958

Non-current liabilities
Loans 0 0 0 1,018
Lease liabilities 0 0 845 0
Provision for tax, civil and labor risks 576 1,978 2,787 3,048
Tax liabilities 1,195 1,230 1,389 1,428
Total non-current liabilities 1,771 3,208 5,021 5,494

Shareholder's Equity
Capital 39,819 39,819 39,819 39,819
(-) IPO costs 0
Capital reserve 0 0 0 0
Accumulated losses -49,722 -46,890 -48,364 -50,917
Total shareholder's equity -9,903 -7,071 -8,545 -11,098
TOTAL LIABILITIES AND SHAREHOLDER'S EQUITY 22,951 25,120 30,680 42,354
 2020 1Q21 2Q21 3Q21

29,931 392,300 352,490 308,615

1,899 1,899 2,401 2,448
369 0 0 0
8,872 29,034 35,006 39,466
20,147 23,265 33,806 41,670
91 91 2,803 4,206
0 0 0 0
1,510 2,541 4,194 8,762
62,819 449,130 430,700 405,167

2,246 6,437 8,655 13,073

0 0 11,328 11,328
18,529 38,917 35,615 39,783
2,133 23,478 27,075 30,063
6,114 7,266 14,318 20,488
4,567 5,771 6,622 7,782
33,589 81,869 103,613 122,517
96,408 530,999 534,313 527,684

39,583 34,347 43,505 49,367

6,497 6,066 9,690 10,722
7,190 5,692 5,357 4,320
1,416 3,467 852 1,481
24,020 27,395 27,862 20,201
0 16,417 2,003 1,489
3,143 3,739 2,319 2,761
0 0 0 0
8 8 8 8
81,857 97,131 91,596 90,349

3,635 1,183 255 0

918 20,378 26,778 29,453
5,010 6,667 8,692 8,019
2,109 2,369 2,669 3,236
11,672 30,597 38,394 40,708

40,224 470,567 470,746 470,852

0 -20,258 -20,258 -19,835
 787 6,302 6,578 7,671
-38,132 -53,340 -52,743 -62,061
2,879 403,271 404,323 396,627
96,408 530,999 534,313 527,684
P&L 2017 2018 2019 2020
Net revenue 114,456 118,878 130,906 245,254
COGS -64,691 -66,303 -70,689 -134,606
Gross Profit 49,765 52,575 60,217 110,648
Gross Margin 43.5% 44.2% 46.0% 45.1%

Operating Expenses -42,977 -45,182 -58,335 -110,586

SG&A -25,188 -38,400
SG&A/Net Sales -19.2% -15.7%
Marketing -3,501 -11,137
Marketing/Net Sales -2.7% -4.5%
Other operation revenues

Adjusted EBITDA 7,617 7,940 4,738 7,487

Financial revenue 544 443 622 4,091

Financial expenses -4,156 -3,304 -3,720 -10,318
Financial result -3,612 -2,861 -3,098 -6,227

Result before income tax and social contribution 3,176 4,532 -1,216 -6,165
Income tax and social contribution -794 -1,700 -258 17,866

Profit (loss) 2,382 2,832 -1,474 11,701

 1Q21 2Q21 3Q21
60,575 79,601 86,120
-32,807 -42,275 -49,458
27,768 37,326 36,662
45.8% 46.9% 42.6%

-52,769 -45,667 -52,639

-14,055 -17,753 -19,667
-23.2% -22.3% -22.8%
-4,557 -5,188 -9,629
-7.5% -6.5% -11.2%
8,445

-4,672 -3,279 -11,771

1,524 5,734 4,293

-1,682 -1,941 -1,801
-158 3,793 2,492

-25,159 3,896 -13,485

8,482 -3,300 4,167

-16,677 596 -9,318

OPERATING DATA 2017 2018 2019 2020 1Q21
Total GMV (R$ thousand) 163,471 177,699 190,090 372,640 95,656
% Private Label 8.8% 15.0% 16.5% 18.5% 19.7%
% Lifestyle 3.2% 5.6% 9.7% 13.1% 15.7%

Club
Average Ticket per order (R$) 367.6 360.1 377.9 339.3 330.2

Now
GMV (R$ thousand) - - - 38,275 20,128
Average Ticket per order (R$) - - - 611.9 651.2

Active Buyers (Club + Now) - thousand 130.0 143.1 155.6 294.2 325.5

Gallery
# stores 1 1 1 1 1
Selling area (m²) 350 350 350 350 350
 2Q21 3Q21
115,764 115,782
18.2% 18.7%
14.3% 17.0%

346.9 338.6

24,310 29,721
676.1 679.0

331.5 331.5

1 1
350 350