Brazil Revenue Recognition Disclosures API: Track CPC 47 and IFRS 15 from CVM Filings

The problem

Revenue-quality surveillance splits into three stacks that English search results often merge:

1. Market data terminals — rebased segment revenue and consensus estimates. They rarely store the issuer’s regulatory PDF with CPC 47 policy text, deferred revenue roll-forwards, and contract modification footnotes.
2. Periodic packages — DFP, ITR, and FRE with revenue notes, critical accounting judgments, and long-cycle contract narrative. Essential for construction, SaaS-like models, and industrial backlog stories, but you still need ticker-first access and stable file IDs.
3. Event disclosures — fatos relevantes when a material change in revenue recognition, a large contract win/loss, or a restatement of prior-period revenue is disclosed outside the normal filing calendar.

Scraping the CVM portal works for one ticker and breaks on a diversified watchlist. Bulk open-data ZIPs are dataset-oriented, not ticker-first. You want GET /v1/documents with stable document.id, then GET /v1/documents/:id/file for the original PDF — scoped to revenue recognition workflows.

For segment mix (not timing), see Brazil segment reporting disclosures API. This guide focuses on the API list-and-download pattern for CPC 47 / IFRS 15 disclosure layers.

Which filing type carries revenue recognition detail?

Brazilian issuers do not expose a dedicated type=REVENUE_RECOGNITION in the apicvm document list. Detail usually appears under:

Practical rule: list latest ITR/DFP for each ticker during 3Q ITR season, narrow annex rows with name filters for notes (notas, notes, explicativas), poll FATO_RELEVANTE for revenue-restatement keywords, and pull FRE once per year for structural context. After download, search PDF text for receita, reconhecimento, CPC 47, IFRS 15, receita diferida, deferred revenue, contrato, performance obligation, variable consideration, mudança de estimativa, or policy change.

Issuer titles vary: long-cycle builders and equipment vendors file dense note PDFs; pure retailers may discuss revenue mainly in MD&A annexes without event-layer keywords. Zero rows in a given year does not prove immaterial deferred revenue — see limitations below.

How apicvm helps

1. Resolve the issuer — GET /v1/companies/resolve
2. List periodic packages — GET /v1/documents with type=ITR or type=DFP and year
3. Narrow to explanatory notes — name=Notas or related annex tokens
4. List event filings — GET /v1/documents with type=FATO_RELEVANTE
5. Scope with dateRef; sort with field=dateRef&order=desc
6. Download the PDF — GET /v1/documents/:id/file (no extraction credits)
7. Optional (Pro): page-level markdown — POST /v1/document-text-extractions with async callback

Auth: Authorization: Bearer or X-API-Key. Try VALE3 without a key via the demo API.

Setup

export APICVM_KEY='apicvm_...'
export APICVM_URL='https://apicvm.dev'

Step 1: List quarterly filings for one ticker

curl -H "Authorization: Bearer $APICVM_KEY" \
  "$APICVM_URL/v1/documents?ticker=WEGE3&type=ITR&year=2025&perPage=10&field=dateRef&order=desc"

Response rows include stable id, dateRef, name, and nested company metadata. Use id as your cache key — not name, which can be long and encoding-sensitive.

Paginate with page= when meta.lastPage > 1. perPage maxes at 50.

Step 2: Narrow to explanatory notes (CPC 47 tables live here)

curl -s -H "Authorization: Bearer $APICVM_KEY" \
  "$APICVM_URL/v1/documents?ticker=WEGE3&type=ITR&year=2025&perPage=50&name=Notas" \
  | jq '.data[] | {id, type, dateRef, name}'

Combine with filter CVM filings by section name when your catalog uses English or abbreviated tokens.

Step 3: List revenue-related material facts

curl -s -H "Authorization: Bearer $APICVM_KEY" \
  "$APICVM_URL/v1/documents?ticker=MGLU3&types=FATO_RELEVANTE,COMUNICADO_AO_MERCADO&year=2025&perPage=50" \
  | jq '.data[] | select(.name | test("receita|revenue|reconhecimento|restatement|reclassific|contrato|backlog|guidance"; "i")) | {id, type, dateRef, name}'

On the public demo (VALE3 only), swap the host path to /v1/demo/documents with the same query parameters for smoke tests.

For annual revenue-risk narrative, list the latest FRE:

curl -s -H "Authorization: Bearer $APICVM_KEY" \
  "$APICVM_URL/v1/documents?ticker=CYRE3&type=FRE&year=2025&perPage=5&field=dateRef&order=desc" \
  | jq '.data[] | {id, dateRef, name}'

Step 4: Download the filing PDF

DOC_ID=123456
curl -H "Authorization: Bearer $APICVM_KEY" \
  "$APICVM_URL/v1/documents/$DOC_ID/file" -o revenue-recognition-notes.pdf

Store document.id in your warehouse. Re-download when the issuer replaces a filing; do not assume name alone is a stable key.

Step 5: Watchlist poll (Python sketch)

import os, re, requests

BASE = os.environ["APICVM_URL"]
KEY = os.environ["APICVM_KEY"]
HEADERS = {"Authorization": f"Bearer {KEY}"}
WATCH = ["WEGE3", "MGLU3", "CYRE3", "RADL3"]
REV_RE = re.compile(
    r"receita|revenue|reconhecimento|diferida|deferred|CPC.?47|IFRS.?15|"
    r"restatement|reclassific|contrato|backlog|estimativa",
    re.I,
)
seen = set()

def list_events(ticker):
    r = requests.get(
        f"{BASE}/v1/documents",
        headers=HEADERS,
        params={
            "ticker": ticker,
            "types": "FATO_RELEVANTE,COMUNICADO_AO_MERCADO",
            "year": 2025,
            "perPage": 50,
            "field": "dateRef",
            "order": "desc",
        },
        timeout=60,
    )
    r.raise_for_status()
    return r.json().get("data") or []

for ticker in WATCH:
    for doc in list_events(ticker):
        if doc["id"] in seen:
            continue
        if not REV_RE.search(doc.get("name") or ""):
            continue
        seen.add(doc["id"])
        print(f"REV {ticker} {doc['dateRef']} {doc['name'][:70]}")

Wire this into GitHub Actions CVM filings monitor or extend the diff pattern from Brazil material facts monitoring API. For NLP over downloaded PDFs, see extract text from CVM PDFs for AI agents.

Where revenue recognition sits in the filings stack

Brazil regulatory filings API explains the full layer map. Pair periodic note pulls with quarterly ITR monitoring during 3Q ITR season (typically Oct–Nov). When revenue quality ties to receivables timing, cross-check Brazil working capital disclosures API. When mix shifts across segments drive recognized revenue, see Brazil segment reporting disclosures API. When forward statements move before notes update, see Brazil guidance and outlook disclosures API. For the broader Brazil financial data API pillar, treat revenue recognition as one note cluster inside periodic filings.

Current limitations

• Documents, not parsed revenue engines — apicvm does not return recognized revenue, backlog, or deferred revenue balances parsed from tables.
• Keyword filters are heuristic — name tokens help on the event layer; many CPC 47 tables appear only inside periodic PDF notes without matching keywords.
• Polling, not push — no webhook when CVM publishes a new fact. Schedule polls and diff document.id.
• Ingestion lag — sync is not real-time. A notice may appear on the portal before it is in the corpus.
• Corpus coverage — not every issuer or period is present. Validate against the portal for production compliance use cases.
• Demo scope — /v1/demo/* is limited to VALE3. Other tickers need a production key.
• ITR disambiguation — Informações Trimestrais (CVM quarterly financials), not US income tax return software.

Next steps

• Read the API docs
• Get an API key
• Extract CVM financial footnotes from DFP — broader note workflow

Related guides

• Brazil segment reporting disclosures API — revenue mix by operating segment
• Brazil working capital disclosures API — receivables tied to recognized revenue
• Brazil guidance and outlook disclosures API — forward revenue statements on the event layer
• Access DFP and ITR notes by section name — annex filters before download
• Track Brazil earnings season with the CVM filings API — seasonal ITR workflow
• Extract text from CVM PDFs for AI agents — async markdown extraction