Arco Platform ^{Priced, Nasdaq: ARCE}

We provide a complete pedagogical system with technology-enabled features to deliver educational content to private schools in Brazil. Our turnkey curriculum solutions provide educational content in both printed and digital formats delivered through our platform to improve the learning process. Our network as of March 31, 2018 consisted of 1,140 partner schools, compared to 835 schools as of March 31, 2017, representing an annual growth rate of 36.5%. We had 405,814 enrolled students across all Brazilian states as of March 31, 2018, compared to 322,031 enrolled students as of March 31, 2017, representing an annual growth rate of 26.0%. We have an asset-light, highly-scalable business model that emphasizes operational efficiency and profitability. We operate through long-term service contracts with private schools. Our revenue is driven by the number of enrolled students at each customer using the solutions and the agreed price per student per year, all in accordance with the terms and conditions set forth in each contract. As a result, we benefit from high visibility in our net revenue and operating margin. Our annual retention rate in 2016 and 2017 was 95.0%, which makes our recurring revenue base highly stable.