StoneCo Ltd (NASDAQ:STNE) stock rose 8.59% (As on June 3, 11:44:22 AM UTC-4, Source: Google Finance) after the company in the first quarter of FY 22 has reported the revenue growth of 138.6% year-over-year to R$2.07 billion. This increase was mainly a result of (i) 107.8% growth in the financial services platform revenues, that reached R$1,721.3 million and (ii) 11x growth in the software platform revenues, that reached R$326.6 million. Non-Allocated revenue represented the remaining R$22.4 million in revenue. Financial services revenue growth was mostly a result of the performance in the MSMB segment, with strong TPV growth combined with increasing take rates, as the company had successfully adjusted the pricing policy amid a higher interest rate environment in Brazil. The year-over-year software revenue growth was driven mostly by the consolidation of Linx into the results beginning in 3Q21. Software revenue pro-forma for Linx grew 26.9% year over year, mainly driven by the Core POS/ERP revenue growth. Adjusted Net Income in 1Q22 was R$132.2 million, with a 6.4% net margin, representing a sequential increase from adjusted net income of R$33.7 million and a 1.8% margin in 4Q21. This improvement was mostly related to the successful implementation of our new pricing policy and efficiency gains in costs and expenses.
Moreover, Adjusted EBITDA in 1Q22 was R$817.3 million, up 116.8% year over year and 19.4% quarter over quarter. EBITDA Margin increased 2.9 percentage points sequentially to 39.5%, mainly due to efficiency gains in Cost of Services and Administrative Expenses. Adjusted EBT in 1Q22 was R$163.1 million, 16.5% above our guidance of R$140.0 million and significantly above 4Q21 Adjusted Pre-tax Income of R$17.2 million.
Furthermore, total Revenue and Income for Financial Services segment in 1Q22 was R$1,721.3 million, a 107.8% increase year over year. This growth was mostly a result of the performance in the MSMB segment, with strong year over year TPV and client base growth. Adjusted Net Income for Financial Services segment was R$125.9 million, 34.2% lower year over year and 136.7% higher quarter over quarter. MSMB active payment clients reached 1,870,900, representing a net addition of clients of 167,500 in the quarter. Legacy credit portfolio reached R$722.2 million in 1Q22, decreasing R$479.4 million from 4Q21. The decrease is mainly a result of a net positive cash flow of R$253.5 million in the quarter.
StoneCo expects total revenue and income of R$2.15 billion and R$2.2 billion. Adjusted EBT is expected to be above R$185 million in 2Q22.
It expects MSMB TPV of R$67.0 billion and R$68.0 billion (up 70.7% to 73.2% year over year).