ZENVIA Reports Q2 2024 and H1 2024 Results
Zenvia Inc. (NASDAQ: ZENV) reported Q2 2024 results with revenues up 19.8% year-over-year to BRL 231.2 million. Key highlights:
- Normalized EBITDA of BRL 33.7 million in Q2, up 126.1% YoY
- Non-GAAP Adjusted Gross Profit up 20.4% YoY to BRL 100.2 million
- SaaS revenue grew 15.6% YoY to BRL 78.0 million
- CPaaS revenue increased 22.1% YoY to BRL 153.2 million
- Launched Generative AI Chatbot solution in June
- Soft launch of Zenvia Customer Cloud underway
- Reaffirmed FY 2024 guidance of BRL 930-970 million revenue and BRL 120-140 million Normalized EBITDA
Management highlighted strong revenue growth, margin improvement, and progress on new product launches as key drivers for the quarter.
Zenvia Inc. (NASDAQ: ZENV) ha riportato i risultati del secondo trimestre 2024 con ricavi in aumento del 19,8% rispetto all'anno precedente, raggiungendo i 231,2 milioni di BRL. Punti salienti:
- EBITDA normalizzato di 33,7 milioni di BRL nel Q2, in aumento del 126,1% su base annua
- Utile lordo rettificato secondo i principi contabili non GAAP aumentato del 20,4% su base annua, pari a 100,2 milioni di BRL
- I ricavi da SaaS sono cresciuti del 15,6% su base annua, raggiungendo i 78,0 milioni di BRL
- I ricavi da CPaaS sono aumentati del 22,1% su base annua, pari a 153,2 milioni di BRL
- Lanciata la soluzione di chatbot generativo AI a giugno
- In corso il soft launch di Zenvia Customer Cloud
- Confermata la previsione per l'anno fiscale 2024 di ricavi compresi tra 930-970 milioni di BRL e EBITDA normalizzato di 120-140 milioni di BRL
La direzione ha sottolineato la forte crescita dei ricavi, il miglioramento dei margini e i progressi nei nuovi lanci di prodotto come i principali fattori trainanti del trimestre.
Zenvia Inc. (NASDAQ: ZENV) reportó resultados del segundo trimestre de 2024 con ingresos que aumentaron un 19.8% interanualmente, alcanzando 231.2 millones de BRL. Aspectos destacados:
- EBITDA normalizado de 33.7 millones de BRL en Q2, un aumento del 126.1% interanual
- Utilidad bruta ajustada según principios contables no GAAP aumentó un 20.4% interanual a 100.2 millones de BRL
- Los ingresos por SaaS crecieron un 15.6% interanual a 78.0 millones de BRL
- Los ingresos por CPaaS aumentaron un 22.1% interanual a 153.2 millones de BRL
- Lanzamiento de la solución de chatbot generativo de IA en junio
- Lanzamiento suave de Zenvia Customer Cloud en marcha
- Se reafirmó la guía del año fiscal 2024 de ingresos entre 930-970 millones de BRL y EBITDA normalizado de 120-140 millones de BRL
La dirección destacó el fuerte crecimiento de los ingresos, la mejora de los márgenes y los avances en el lanzamiento de nuevos productos como los principales impulsores del trimestre.
젠비아 주식회사 (NASDAQ: ZENV)는 2024년 2분기 결과를 발표하면서 수익이 전년 대비 19.8% 증가한 2억 3,120만 BRL에 도달했다고 보고했습니다. 주요 하이라이트:
- 2분기에 정규화된 EBITDA는 3,370만 BRL로 전년 대비 126.1% 증가
- 비 GAAP 조정 총 이익이 전년 대비 20.4% 증가하여 1억 2백만 BRL에 도달
- SaaS 수익이 전년 대비 15.6% 증가하여 7,800만 BRL
- CPaaS 수익이 전년 대비 22.1% 증가하여 1억 5,320만 BRL
- 6월에 생성적 AI 챗봇 솔루션 출시
- 젠비아 고객 클라우드 소프트 론치 진행 중
- 2024 회계연도 매출 9억 3천만 ~ 9억 7천만 BRL 및 정규화된 EBITDA 1억 2천만 ~ 1억 4천만 BRL에 대한 지침 재확인
경영진은 분기 동안 강력한 수익 성장, 마진 개선 및 새로운 제품 출시의 진행을 주요 요인으로 강조했습니다.
Zenvia Inc. (NASDAQ: ZENV) a annoncé ses résultats pour le deuxième trimestre de 2024, avec des revenus en hausse de 19,8 % par rapport à l'année précédente, atteignant 231,2 millions de BRL. Points clés :
- EBITDA normalisé de 33,7 millions de BRL au Q2, en hausse de 126,1 % par rapport à l'année précédente
- Bénéfice brut ajusté non conforme aux normes GAAP en hausse de 20,4 % par rapport à l'année précédente, atteignant 100,2 millions de BRL
- Les revenus SaaS ont augmenté de 15,6 % par rapport à l'année précédente, atteignant 78,0 millions de BRL
- Les revenus CPaaS ont augmenté de 22,1 % par rapport à l'année précédente, atteignant 153,2 millions de BRL
- Lancement de la solution de chatbot IA générative en juin
- Lancement en douceur de Zenvia Customer Cloud en cours
- Prévisions pour l'exercice 2024 confirmées : revenus de 930 à 970 millions de BRL et EBITDA normalisé de 120 à 140 millions de BRL
La direction a souligné la forte croissance des revenus, l'amélioration des marges et les avancées dans le lancement de nouveaux produits comme principaux moteurs du trimestre.
Zenvia Inc. (NASDAQ: ZENV) hat die Ergebnisse des zweiten Quartals 2024 veröffentlicht, wobei die Einnahmen im Vergleich zum Vorjahr um 19,8% auf 231,2 Millionen BRL gestiegen sind. Wichtige Highlights:
- Normalisiertes EBITDA von 33,7 Millionen BRL im Q2, ein Anstieg von 126,1% im Jahresvergleich
- Non-GAAP-adjustierter Bruttogewinn um 20,4% im Jahresvergleich auf 100,2 Millionen BRL gestiegen
- SaaS-Einnahmen sind um 15,6% im Jahresvergleich auf 78,0 Millionen BRL gewachsen
- CPaaS-Einnahmen sind im Jahresvergleich um 22,1% auf 153,2 Millionen BRL gestiegen
- Einführung der generativen AI-Chatbot-Lösung im Juni
- Soft Launch von Zenvia Customer Cloud läuft
- Jahresprognose 2024 wurde mit Einnahmen von 930-970 Millionen BRL und einem normalisierten EBITDA von 120-140 Millionen BRL bestätigt
Das Management hob das starke Umsatzwachstum, die Verbesserung der Margen und die Fortschritte bei neuen Produktveröffnungen als die Haupttreiber des Quartals hervor.
- Revenue increased 19.8% year-over-year to BRL 231.2 million in Q2 2024
- Normalized EBITDA grew 126.1% year-over-year to BRL 33.7 million in Q2 2024
- Non-GAAP Adjusted Gross Profit rose 20.4% year-over-year to BRL 100.2 million
- CPaaS revenue increased 22.1% year-over-year to BRL 153.2 million
- SaaS revenue grew 15.6% year-over-year to BRL 78.0 million
- Launched new Generative AI Chatbot solution in June 2024
- Soft launch of Zenvia Customer Cloud underway with positive early results
- Total number of active customers decreased 19.6% year-over-year to 11,849
- SaaS Non-GAAP Gross Margin declined 7.7 percentage points year-over-year to 54.5%
- Net cash flow from operating activities decreased 44.6% year-over-year to BRL 18.1 million
- Cash balance decreased 37.3% year-over-year to BRL 89.4 million
Insights
ZENVIA's Q2 2024 results show positive momentum, with revenue growing 19.8% YoY to
Key positives include the successful soft launch of Zenvia Customer Cloud and the introduction of their Generative AI Chatbot solution. However, the decrease in total active customers to 11,849 warrants attention, even if it's part of a strategic cleanup.
The company's guidance for FY 2024 remains unchanged, targeting revenue of
ZENVIA's strategic focus on innovative solutions is evident in their Q2 2024 results. The soft launch of Zenvia Customer Cloud and the release of their Generative AI Chatbot are significant technological advancements. The AI Chatbot's ability to deliver value in under six minutes and its rapid adoption across eight sectors in Latin America demonstrate ZENVIA's strong product-market fit in the CX space.
The company's transition towards a unified SaaS platform through Zenvia Customer Cloud is a smart move, potentially leading to increased cross-selling opportunities and improved customer retention. However, the full rollout by H1 2025 suggests a cautious approach, which may delay some benefits.
The decrease in active customers, particularly in CPaaS, while concerning, appears to be a strategic decision to focus on higher-value clients. This aligns with the industry trend of prioritizing quality over quantity in B2B SaaS.
ZENVIA's Q2 2024 results reflect broader trends in the Latin American CX market. The company's focus on large enterprises aligns with the increasing demand for comprehensive CX solutions among major corporations in the region. The 15.6% YoY growth in SaaS revenue and 22.1% growth in CPaaS revenue indicate strong market traction.
The launch of the Generative AI Chatbot is particularly noteworthy, as it taps into the growing interest in AI-powered customer service solutions. The rapid adoption across multiple sectors suggests a market-wide shift towards more sophisticated CX tools.
However, the decrease in total active customers, especially in the CPaaS segment (
Normalized EBITDA of
Strict cost control led G&A as % of revenues to
Promising early results of Zenvia Customer Cloud soft launch, with healthy levels of recurring revenue, churn and crossed adoption
SÃO PAULO, Sept. 5, 2024 /PRNewswire/ -- Zenvia Inc. (NASDAQ: ZENV), the leading cloud-based CX solution in
Cassio Bobsin, Founder & CEO of ZENVIA, said: "During the quarter, we kept our focus on rolling out Zenvia Customer Cloud, and we are pleased to report that the launch has been met with enthusiasm from our clients. We also released in June our cutting-edge Generative AI Chatbot solution, which delivers value in just under six minutes and, within two months of its launch, has already resulted in 99 chatbots developed by companies across eight sectors in
Shay Chor, CFO & IRO of ZENVIA, said: "We achieved another quarter of solid revenue growth in Q2 2024, with margins remaining within our guidance range, despite the fact that the revenue increase was mainly driven by large enterprises in both segments, which typically have lower margins. A key highlight of the quarter is the significant reduction in G&A expenses, which was down more than
Key Financial Metrics (BRL MM and %) | Q2 2024 | Q2 2023 | YoY | H1 2024 | H1 2023 | YTD |
Revenues | 231.2 | 192.9 | 19.8 % | 443.8 | 372.0 | 19.3 % |
Gross Profit | 87.5 | 70.4 | 24.4 % | 168.4 | 149.3 | 12.8 % |
Gross Margin | 37.9 % | 36.5 % | 1.4p.p. | 37.9 % | 40.1 % | -2.2p.p. |
Non-GAAP Adjusted Gross Profit(1) | 100.2 | 83.2 | 20.4 % | 193.8 | 175.7 | 10.3 % |
Non-GAAP Adjusted Gross Margin(2) | 43.3 % | 43.1 % | 0.2p.p. | 43.7 % | 47.2 % | -3.6p.p. |
Operating Loss (EBIT) | 10.0 | -7.0 | n.m | 0.3 | -19.3 | n.m |
Adjusted EBITDA(3)(5) | 33.6 | 14.9 | 125.5 % | 46.7 | 22.7 | 105.3 % |
Normalized EBITDA(4)(5) | 33.7 | 14.9 | 126.1 % | 56.8 | 22.7 | 150.0 % |
Loss of the Period | (15.9) | (15.2) | 5.1 % | (72.2) | (31.9) | 126.0 % |
Cash Balance | 89.4 | 142.6 | -37.3 % | 89.4 | 142.6 | -37.3 % |
Net cash flow from (used in) operating activities | 18.1 | 32.8 | -44.6 % | 5.3 | 132.3 | -96.0 % |
Total Active Customers(6) | 11,849 | 14,740 | -19.6 % | 11,849 | 14,740 | -19.6 % |
(1) For a reconciliation of our Non-GAAP Gross Profit to Gross Profit, see Selected Financial Data section below. | ||||||
Highlights Q2 2024
- Revenues totaled
BRL 231.2 million , up19.8% when compared toBRL 192.9 million in Q2 2023 as a result of both SaaS (+15.6% YoY) and CPaaS (+22.1% ) expansion. CPaaS and SaaS saw growth mainly from large enterprise customers. - Non-GAAP Adjusted Gross Profit of
BRL 100.2 million was up20.4% YoY while Non-GAAP Adjusted Gross Margin was mainly stable, up by 0.2 percentage points to the expected level of43.3% YoY as highlighted in our guidance for 2024. This decrease is due to:
(i) Higher mix of CPaaS in the period, principally from large enterprises with lower margins; and
(ii) Lower SaaS margins, which also grew more in large enterprises with lower margins.
- Total number of active customers decreased to 11.8k, being 6.8k from SaaS and 5.5k from CPaaS. This decrease reflects a client-base cleanup, combining the rollout of Zenvia Customer Cloud - that unifies SaaS clients' contracts - with a drop in smaller CPaaS clients which used lower volumes of SMS and were less profitable.
- Normalized EBITDA was positive
BRL 33 .7 million in the quarter, up126.1% from Q2 2023, benefiting from higher revenues and strict expense control. - On June 19, we announced the launch of our Generative AI Chatbot, a game-changing solution to revolutionize chatbot development, making it as simple and intuitive as a personal interaction and accessible to businesses of all sizes looking to improve and automate customer service. Key highlights include easy customization and efficient integration with multiple communication channels, ensuring a superior solution for all customer needs. Within two months of its launch, 99 chatbots were already developed by companies across eight industry sectors in
Latin America . - The migration of the client base to Zenvia Customer Cloud has already started, with a full rollout expected by the H1 2025. To date, we could observe healthy levels of recurring revenue, churn, and cross-adoption.
Highlights H1 2024
- Revenues totaled
BRL 443.8 million , up19.3% when compared toBRL 372.0 million in H1 2023 as a result of both SaaS (+13.8% YTD) and CPaaS (+22.5% ) expansion. - Non-GAAP Adjusted Gross Profit of
BRL 193 .8 million was up10.3% YTD while Non-GAAP Adjusted Gross Margin was down 3.6 percentage points YoY to the expected level of43.7% . - Normalized EBITDA was positive
BRL 56 .8 million in the quarter, up150.0% from H1 2023, which is in line with our expectations and in line to deliver the full year guidance ofBRL 120 million toBRL 140 million .
SaaS Business
SaaS Key Operational & Financial Metrics | Q2 2024 | Q2 2023 | YoY | H1 2024 | H1 2023 | YTD |
Revenues | 78.0 | 67.5 | 15.6 % | 154.8 | 136.0 | 13.8 % |
Gross Profit | 29.9 | 29.1 | 2.5 % | 60.4 | 62.1 | -2.6 % |
Gross Margin | 38.3 % | 43.2 % | -4.9p.p. | 39.0 % | 45.6 % | -6.6p.p. |
Non-GAAP Gross Profit(1) | 42.5 | 42.0 | 1.3 % | 85.9 | 88.4 | -2.9 % |
Non-GAAP Gross Margin(2) | 54.5 % | 62.2 % | -7.7p.p. | 55.5 % | 65.0 % | -9.5p.p. |
Net Revenue Expansion (NRE) | 100 % | 116 % | -16p.p. | 100 % | 116 % | -16p.p. |
Total Active Customers(3) | 6,770 | 6,888 | -1.7 % | 6,770 | 6,888 | -1.7 % |
(1) For a reconciliation of the Non-GAAP Adjusted Gross Profit of our SaaS business segment to Gross Profit of our SaaS business segment, see Selected Financial Data section below. | ||||||
In Q2 2024, our SaaS business Revenue went up
As a result, Q2 2024 Non-GAAP Adjusted Gross Profit was mainly stable, up
The revenue increase came mostly from large enterprises that carry lower margins, leading to lower Non-GAAP Adjusted Gross Margin from SaaS. Despite being down by 7.7 percentage points YoY to
CPaaS Business
CPaaS Key Operational & Financial Metrics | Q2 2024 | Q2 2023 | YoY | H1 2024 | H1 2023 | YTD |
Revenues | 153.2 | 125.5 | 22.1 % | 289.0 | 235.9 | 22.5 % |
Non-GAAP Gross Profit(1) | 57.7 | 41.2 | 39.8 % | 108.0 | 87.3 | 23.7 % |
Non-GAAP Gross Margin(2) | 37.6 % | 32.9 % | 4.8p.p. | 37.4 % | 37.0 % | 0.4p.p. |
Total Active Customers(3) | 5,506 | 8,647 | -36.3 % | 5,506 | 8,647 | -36.3 % |
(1) For a reconciliation of the Non-GAAP Adjusted Gross Profit of our CPaaS business segment to Gross Profit of our CPaaS business segment, see Selected Financial Data section below. | ||||||
Our CPaaS business reported Net Revenues of
In H1 2024, our CPaaS business reported Net Revenues of
It is worth noting that the decrease in the active customer base was primarily due to the clean-up and removal of smaller CPaaS clients who were not generating revenue. This move reflects our focus on retaining customers that contribute with revenues and EBITDA generation as attested by the
Consolidated Financial Results
Revenue
Consolidated revenues in Q2 2024 totaled
Profitability
Our Consolidated Non-GAAP Adjusted Gross Profit went up by
Adjusted EBITDA in Q2 2024 was positive
Reiterating FY 2024 Guidance
FY 2024 Guidance | |
Revenue | BRL$930 - |
Y/Y Growth | |
Non-GAAP Adjusted Gross Margin | |
Normalized EBITDA | BRL |
Conference Call
The Company's senior management team will host a webcast to discuss the results and business outlook on Friday, September 6, 2024, at 10:00 am ET. To access the webcast presentation, click here.
Additional information regarding Zenvia can be found at https://investors.zenvia.com.
Contacts
Investor Relations Caio Figueiredo Fernando Schneider | Media Relations – FG-IR Fabiane Goldstein – (954) 625-4793 – fabi@fg-ir.com
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About ZENVIA
Zenvia (NASDAQ: ZENV) is a technology company dedicated to creating a new world of experiences. It focuses on enabling companies to create personalized, engaging and fluid experiences across the entire customer journey, all through its unified, multi-channel customer cloud solution. Boasting two decades of industry expertise, over 13,000 customers and operations throughout
Forward-Looking Statements
The preliminary fourth quarter and full year operating results set forth above are based solely on currently available information, which is subject to change. These preliminary operating results constitute forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made as of the date they were first issued and were based on current expectations, estimates, forecasts, and projections, as well as the beliefs and assumptions of management. Words such as "expect," "anticipate," "should," "believe," "hope," "target," "project," "goals," "estimate," "potential," "predict," "may," "will," "might," "could," "intend," variations of these terms or the negative of these terms and similar expressions are intended to identify these statements. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond Zenvia's control. Zenvia's actual results could differ materially from those stated or implied in forward-looking statements due to several factors, including but not limited to: our ability to innovate and respond to technological advances, changing market needs and customer demands, our ability to successfully acquire new businesses as customers, acquire customers in new industry verticals and appropriately manage international expansion, substantial and increasing competition in our market, compliance with applicable regulatory and legislative developments and regulations, the dependence of our business on our relationship with certain service providers, among other factors.
SELECTED FINANCIAL DATA
The following selected financial information are preliminary, unaudited and are based on management's initial review of operations for the second quarter of 2024.
Income Statement
Q2 | H1 | |||||
2024 | 2023 | Variation | 2024 | 2023 | Variation | |
(non-audited) | (restated) | (non-audited) | (restated) | |||
(in thousands of R$) | ( %) | (in thousands of R$) | ( %) | |||
Revenue | 231,159 | 192,919 | 19.8 % | 443,795 | 371,966 | 19.3 % |
Cost of services | -143,624 | -122,533 | 17.2 % | -275,403 | -222,631 | 23.7 % |
Gross profit | 87,535 | 70,386 | 24.4 % | 168,392 | 149,335 | 12.8 % |
Selling and marketing expenses | -26,001 | -24,807 | 4.8 % | -53,360 | -52,249 | 2.1 % |
General and administrative expenses | -33,293 | -37,348 | -10.9 % | -64,563 | -68,795 | -6.2 % |
Research and development expenses | -14,071 | -11,109 | 26.7 % | -28,867 | -25,113 | 14.9 % |
Allowance for expected credit losses | -1,464 | -3,708 | -60.5 % | -6,895 | -21,977 | -68.6 % |
Other income and expenses, net | -2,690 | -451 | 496.5 % | -14,406 | -536 | 2587.7 % |
Operating gain (loss) | 10,016 | -7,037 | -242.3 % | 301 | -19,335 | -101.6 % |
Financial expenses | -37,895 | -17,125 | 121.3 % | -105,133 | -35,849 | 193.3 % |
Finance income | 438 | 3,987 | -89.0 % | 7,472 | 6,612 | 13.0 % |
Financial expenses, net | -37,457 | -13,138 | 185.1 % | -97,661 | -29,237 | 234.0 % |
Loss before taxes | -27,441 | -20,175 | 36.0 % | -97,360 | -48,572 | 100.4 % |
Deferred income tax and social contribution | 14,011 | 7,793 | 79.8 % | 30,094 | 19,639 | 53.2 % |
Current income tax and social contribution | -2,507 | -2,788 | -10.1 % | -4,927 | -3,006 | 63.9 % |
Loss for the period | -15,937 | -15,170 | 5.1 % | -72,193 | -31,939 | 126.0 % |
Loss attributable to Owners of the Company | -16,045 | -15,226 | 5.4 % | -72,419 | -32,065 | 125.9 % |
Non-controlling interests | 108 | 56 | 92.9 % | 226 | 126 | 79.4 % |
Balance Sheet
December 31, 2023 | June 30, 2024 | ||
(in thousands of R$) | |||
Assets | |||
Current assets | 250,331 | 304,179 | |
Cash and cash equivalents | 63,742 | 89,411 | |
Trade and other receivables | 148,784 | 170,326 | |
Recoverable assets | 28,058 | 27,555 | |
Prepayments | 5,571 | 9,871 | |
Other assets | 4,176 | 7,016 | |
Advances to Acquisition | |||
Non-current assets | 1,461,233 | 1,480,788 | |
Restricted Cash | 6,403 | 6,749 | |
Prepayments | 1,109 | 713 | |
Other Assets | 10 | 10 | |
Deferred Tax Assets | 91,971 | 122,065 | |
Property, plant and equipment | 14,413 | 20,855 | |
Intangible assets | 1,347,327 | 1,330,396 | |
Total assets | 1,711,564 | 1,784,967 | |
December 31, 2023 | June 30, 2024 | ||
(in thousands of R$) | |||
Liabilities | |||
Current liabilities | 607,374 | 622,848 | |
Trade and other payables | 353,998 | 374,933 | |
Loans, borrowings and Debentures | 36,191 | 73,527 | |
Liabilities from acquisitions | 134,466 | 99,936 | |
Employee benefits | 50,085 | 47,811 | |
Tax liabilities | 18,846 | 16,991 | |
Lease liabilities | 2,056 | 1,962 | |
Deferred revenue | 11,547 | 7,591 | |
Taxes to be paid in installments | 185 | 97 | |
Derivative and Financial Instruments | - | ||
Non-current liabilities | 215,243 | 341,236 | |
Liabilities from acquisitions | 160,237 | 187,096 | |
Loans, borrowings | 51,605 | 56,037 | |
Provisions for tax, labor and civil risks | 1,721 | 1,744 | |
Lease liabilities | 752 | 1,834 | |
Employee Benefits | 615 | 1,478 | |
Derivative financial instruments | - | 92,757 | |
Taxes to be paid in installments | 313 | 290 | |
Equity | 888,947 | 820,883 | |
Capital | 957,525 | 1,007,522 | |
Reserves | 247,464 | 206,887 | |
Foreign currency translation reserve | 3,129 | (2,188) | |
Other components of equity | 283 | 283 | |
Accumulated losses | (319,591) | (392,010) | |
Non-controlling interests | 137 | 389 | |
Total equity and liabilities | 1,711,564 | 1,784,967 | |
Indebtness
Interest | December 31, 2023 | June 30, 2024 | |
(in thousands of R$) | |||
Working capital | 69,667 | 113,730 | |
Debentures | 18.16 % | 18,129 | 15,834 |
Total | 87,796 | 129,564 | |
Cash Flow
Q2 | H1 | |||
2024 | 2023 | 2024 | 2023 | |
(in thousands of R$) | ||||
Net cash from (used in) operating activities | 18,134 | 32,758 | 5,269 | 132,318 |
Net cash used in investing activities | -21,078 | -14,735 | -33,507 | -17,438 |
Net cash from (used in) financing activities | 21,459 | -31,548 | 54,793 | -69,914 |
Exchange rate change on cash and cash equivalents | -629 | -2,918 | -886 | -2,630 |
Net (decrease) increase in cash and cash equivalents | 17,886 | -16,443 | 25,669 | 42,336 |
Special Note Regarding Non-GAAP Financial Measures
This press release presents certain Non-GAAP financial measures, which are not recognized under IFRS, specifically Non-GAAP Adjusted Gross Profit, Non-GAAP Adjusted Gross Margin, Non-GAAP Adjusted Gross Profit for our SaaS business segment, Non-GAAP Adjusted Gross Profit for our CPaaS business segment, Non-GAAP Adjusted Gross Margin for our SaaS business segment, Non-GAAP Adjusted Gross Margin for our CPaaS business segment, Adjusted EBITDA and Normalized EBITDA. A Non-GAAP financial measure is generally defined as one that purports to measure financial performance but excludes or includes amounts that would not be so adjusted in the most comparable GAAP measure. Non-GAAP financial measures do not have standardized meanings and may not be directly comparable to similarly titled measures adopted by other companies. These Non-GAAP financial measures are used by our management for decision-making purposes and to assess our financial and operating performance, generate future operating plans and make strategic decisions regarding the allocation of capital. We also believe that the disclosure of our Non-GAAP Adjusted Gross Profit, Non-GAAP Adjusted Gross Margin, Non-GAAP Adjusted Gross Profit for our SaaS business segment, Non-GAAP Adjusted Gross Profit for our CPaaS business segment, Non-GAAP Adjusted Gross Margin for our SaaS business segment, Non-GAAP Adjusted Gross Margin for our CPaaS business segment, Adjusted EBITDA and Normalized EBITDA. Flow provides useful supplemental information to investors and financial analysts and other interested parties in their review of our operating performance. Potential investors should not rely on information not recognized under IFRS as a substitute for the IFRS measures of earnings, cash flows or profit (loss) in making an investment decision.
The following table shows the reconciliation for our consolidated Non-GAAP Gross Profit and consolidated Non-GAAP Gross Margin:
Q2 | H1 | |||
Consolidated | 2024 | 2023 | 2024 | 2023 |
(in thousands of R$) | ||||
Gross profit | 87,535 | 70,386 | 168,392 | 149,335 |
(+) Amortization of intangible assets acquired from business combinations | 12,654 | 12,850 | 25,439 | 26,361 |
Non-GAAP Gross Profit(1) | 100,189 | 83,236 | 193,831 | 175,696 |
Revenue | 231,159 | 192,919 | 443,795 | 371,966 |
Gross margin(2) | 37.9 % | 36.5 % | 37.9 % | 40.1 % |
Non-GAAP Gross Margin(3) | 43.3 % | 43.1 % | 43.7 % | 47.2 % |
(1) We calculate Non-GAAP Adjusted Gross Profit as gross profit plus amortization of intangible assets acquired from business combinations. | ||||
The following tables shows the reconciliation for the Non-GAAP Gross Profit and Non-GAAP Gross Margin for our
SaaS and CPaaS business segments:
Q2 | H1 | |||
SaaS Segment | 2024 | 2023 | 2024 | 2023 |
(in thousands of R$) | ||||
Gross profit | 29,871 | 29,144 | 60,440 | 62,060 |
(+) Amortization of intangible assets acquired from business combinations | 12,654 | 12,850 | 25,439 | 26,361 |
Non-GAAP Gross Profit(1) | 42,525 | 41,994 | 85,879 | 88,421 |
Revenue | 77,977 | 67,467 | 154,797 | 136,049 |
Gross margin(2) | 38.3 % | 43.2 % | 39.0 % | 45.6 % |
Non-GAAP Gross Margin(3) | 54.5 % | 62.2 % | 55.5 % | 65.0 % |
(1) We calculate Non-GAAP Adjusted Gross Profit for our SaaS business segment as gross profit for our SaaS business segment plus amortization of intangible assets acquired from business combinations for our SaaS business segment. | ||||
Q2 | H1 | |||
CPaaS Segment | 2024 | 2023 | 2024 | 2023 |
(in thousands of R$) | ||||
Gross profit | 57,652 | 41,241 | 107,952 | 87,275 |
(+) Amortization of intangible assets acquired from business combinations | 0 | 0 | 0 | 0 |
Non-GAAP Gross Profit(1) | 57,652 | 41,241 | 107,952 | 87,275 |
Revenue | 153,182 | 125,455 | 288,998 | 235,917 |
Gross margin(2) | 37.6 % | 32.9 % | 37.4 % | 37.0 % |
Non-GAAP Gross Margin(3) | 37.6 % | 32.9 % | 37.4 % | 37.0 % |
(1) We calculate Non-GAAP Adjusted Gross Profit for our CPaaS business segment as gross profit for our CPaaS business segment plus amortization of intangible assets acquired from business combinations for our CPaaS business segment. | ||||
The following table shows the reconciliation for our Adjusted EBITDA and Normalized EBITDA:
Q2 | H1 | |||
2024 | 2023 | 2024 | 2023 | |
(in thousands of R$) | ||||
Loss for the period | -15,937 | -15,170 | -72,193 | -31,939 |
Current and Deferred Income Tax | -11,504 | -5,005 | -25,167 | -16,633 |
Financial expenses, net | 37,457 | 13,138 | 97,661 | 29,237 |
Depreciation and Amortization | 23,582 | 21,935 | 46,379 | 42,068 |
Adjusted EBITDA(1) | 33,598 | 14,898 | 46,680 | 22,733 |
Earn-outs | -80 | - | - 10,161 | |
Normalized EBITDA(2) | 33,678 | 14,898 | 56,841 | 22,733 |
(1) We calculate Adjusted EBITDA as loss for the period adjusted by income tax and social contribution (current and deferred), financial expenses, net, depreciation and the goodwill impairment. | ||||
View original content:https://www.prnewswire.com/news-releases/zenvia-reports-q2-2024-and-h1-2024-results-302239975.html
SOURCE Zenvia
FAQ
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