Financial Data and Key Metrics Changes - In Q1 2025, the company recorded a strong top line growth of 39%, reaching almost 300 million reais, primarily driven by CPaaS [3] - Consolidated adjusted gross profit declined 21% to 74 million reais from 94 million reais a year ago, with gross margin decreasing 25% [4] - Normalized EBITDA totaled 20 million reais in the quarter, in line with expectations, and is expected to increase progressively over the year [5] - The company ended the quarter with a cash balance of 86 million reais [11] Business Line Data and Key Metrics Changes - CPaaS revenue increased by 58%, making up 73% of total revenues, while SaaS revenue grew by 5% year over year, representing 25% of total revenues [6][7] - Adjusted gross profit from SaaS remained stable at 43 million reais, but adjusted gross margin decreased by 2.7 percentage points to 54% [8] - The CPaaS business was impacted by newly acquired clients with lower margins and increased SMS costs from carriers [10] Market Data and Key Metrics Changes - The company observed strong SMS volume growth year over year, although there was a slight deceleration expected in Q2 compared to Q1 [19][26] - The company anticipates around 50 million reais in revenues from LATAM in 2025, representing over 50% growth compared to 2024 [40] Company Strategy and Development Direction - The company is focused on expanding Xenvia Customer Cloud in Brazil and Latin America, aiming for organic growth while maintaining a commitment to deleveraging [12] - The rollout of the new strategic cycle is expected to impact short-term profitability but aims to boost medium and long-term performance [13] - The company is evaluating opportunities to divest non-core assets to optimize capital structure [13] Management's Comments on Operating Environment and Future Outlook - Management noted that while Q1 was strong, there is a softening expected in Q2, but SMS volumes continue to grow year over year [19][26] - The company is confident in the growth of Xenvia Customer Cloud and SaaS, expecting continued trends from Q1 with some acceleration in Xenvia Customer Cloud [27] - Management emphasized the importance of deleveraging the balance sheet to accelerate growth, especially in a high-interest-rate environment [23] Other Important Information - The company incurred approximately 8 million reais in one-time severance costs during Q1 related to workforce reduction [5] - G&A expenses decreased by 24% year over year, reaching 24 million reais, which is 8% of revenues [10] Q&A Session Summary Question: Reasons behind CPaaS growth in SMS volume - Management indicated that the growth is primarily due to marketing campaigns relying on SMS, rather than AI-related factors [16] Question: More details on Zenvia Customer Cloud growth - The 15% year-over-year growth includes both new clients and those migrating to the platform, with expectations for acceleration as awareness increases [19] Question: Current headwinds for Zenvia Customer Cloud adaptation - Management stated that they are being cautious in migrating customers to ensure a positive experience, rather than customers being hesitant [20] Question: Progress on asset sales and leverage - Management noted that they cannot comment specifically on asset sales but are focused on deleveraging the balance sheet and improving capital structure [22][23] Question: Guidance for the year and trends - Management refrained from providing formal guidance but discussed trends indicating strong growth in SMS and Xenvia Customer Cloud, with expectations for a stronger second half of the year [26] Question: Customer churn and retention strategies - Management acknowledged some churn in legacy solutions but reported healthy retention rates in core software, emphasizing efforts to improve customer experience [42]

Financial Data and Key Metrics Changes - In Q1 2025, the company recorded a strong top line growth of 39%, reaching almost 300 million reais, primarily driven by CPaaS [3][4] - Consolidated adjusted gross profit declined 21% to 74 million reais from 94 million reais a year ago, with gross margin decreasing 25% [4][9] - Normalized EBITDA totaled 20 million reais in the quarter, in line with expectations, and is expected to increase progressively over the year [5][10] Business Line Data and Key Metrics Changes - CPaaS revenue increased by 58%, making up 73% of total revenues, while SaaS revenue grew by 5% year over year, representing 25% of total revenues [6][7] - Adjusted gross profit for SaaS remained stable at 43 million reais, but adjusted gross margin decreased by 2.7 percentage points to 54% due to the transition to Zenvia customer cloud [8][9] - G&A expenses decreased by 24% year over year, reaching 24 million reais, which is 8% of revenues, down from 14.7% a year ago [9][10] Market Data and Key Metrics Changes - The company expects SMS volumes to continue growing year over year, although at a slightly decelerated pace compared to Q1 [18][24] - The company estimates around 50 million reais in revenues from LATAM in 2025, representing over 50% growth compared to 2024 [38] Company Strategy and Development Direction - The company is focused on expanding Xenvia Customer Cloud in Brazil and Latin America, aiming for organic growth while maintaining a commitment to deleveraging [11][12] - The rollout of the new strategic cycle is impacting short-term profitability but is expected to boost medium and long-term performance [12] - The company is evaluating opportunities to divest non-core assets to optimize capital structure [12] Management's Comments on Operating Environment and Future Outlook - Management noted that while Q1 was strong, there is a slight softening expected in Q2, but SMS volumes are still expected to grow in high double digits [18][24] - The company is optimistic about the growth of Xenvia Customer Cloud and SaaS, with expectations of 25-30% growth for the full year [19][24] - Management expressed satisfaction with the current churn levels, indicating that early churn is primarily from legacy solutions [41] Other Important Information - The company incurred approximately 8 million reais in one-time severance costs during Q1 related to workforce reduction [5][10] - The company ended the quarter with a cash balance of 86 million reais and expects EBITDA to continue growing faster than CapEx [10] Q&A Session Summary Question: Reasons behind CPaaS growth in SMS volume - Management indicated that the growth is primarily due to marketing campaigns rather than AI-related factors [15][18] Question: Clarification on Zenvia Customer Cloud growth calculation - Management explained that the 15% growth includes both new clients and those migrating to the platform, and they remain confident in achieving 25-30% growth for the year [19] Question: Current headwinds for Zenvia Customer Cloud adoption - Management stated that they are being cautious in migrating customers to ensure a positive experience, rather than customers being hesitant [20] Question: Progress on asset sales and leverage - Management noted that they cannot comment specifically on asset sales but are focused on deleveraging the balance sheet and improving capital structure [21][22] Question: Guidance for the year and trends - Management refrained from providing formal guidance but discussed trends indicating strong growth in CPaaS and Xenvia Customer Cloud [24] Question: Customer churn and retention strategies - Management reported that churn is higher in legacy solutions but healthy in core software, and they are working on improving customer retention [41]

Financial Performance - Zenvia's net revenues increased from BRL 213 million in Q1 2024 to BRL 296 million in Q1 2025[4] - G&A expenses decreased from BRL 31 million in Q1 2024 to BRL 24 million in Q1 2025[4] - Non-GAAP adjusted gross profit decreased from BRL 93.6 million in Q1 2024 to BRL 74.2 million in Q1 2025[10] - Non-GAAP adjusted gross margin consolidated decreased from 44% in Q1 2024 to 25.1% in Q1 2025[4] - EBITDA decreased from BRL 23 million in Q1 2024 to BRL 20 million in Q1 2025[4] - EBITDA minus CAPEX decreased from BRL 11.2 million in Q1 2024 to BRL 10.1 million in Q1 2025[16] Business Segments - CPaaS revenue increased from BRL 136 million in Q1 2024 to BRL 215 million in Q1 2025[7] - SaaS revenue increased from BRL 77 million in Q1 2024 to BRL 81 million in Q1 2025[7] - Non-GAAP adjusted gross margin for SaaS decreased from 56.4% in Q1 2024 to 53.7% in Q1 2025[4] - Non-GAAP adjusted gross margin for CPaaS decreased from 37% in Q1 2024 to 14.3% in Q1 2025[10]

Core Insights - Zenvia Inc. reported a strong revenue growth of 39.2% year-over-year, reaching BRL 295.9 million in Q1 2025, driven primarily by a 58.5% increase in CPaaS revenues [11][24][13] - The transition to Zenvia Customer Cloud is progressing as planned, with expectations for completion by year-end 2025, which is anticipated to enhance long-term performance [2][6] - General and administrative expenses (G&A) decreased by 24% year-over-year, resulting in G&A as a percentage of revenues improving to 8.0% [17][18] Financial Performance - Normalized EBITDA for Q1 2025 was BRL 20 million, down 15.1% from Q1 2024, attributed to lower gross profit from the CPaaS segment due to increased SMS costs [11][18] - Gross profit decreased by 23.7% year-over-year to BRL 61.7 million, with a gross margin of 20.8%, down 17.2 percentage points from the previous year [11][24] - Non-GAAP Adjusted Gross Profit reached BRL 74.2 million, a decline of 20.8% year-over-year, with a Non-GAAP Adjusted Gross Margin of 25.1% [11][31] Segment Analysis CPaaS Business - CPaaS revenues totaled BRL 215.2 million, reflecting a 58.5% increase year-over-year, although Non-GAAP Adjusted Gross Profit fell by 38.7% to BRL 30.8 million, resulting in a Non-GAAP Adjusted Gross Margin of 14.3% [10][13] - The growth in CPaaS was primarily driven by higher SMS volumes from large clients, which have lower margins [11][15] SaaS Business - SaaS revenues increased by 5.1% year-over-year to BRL 80.7 million, with a slight increase in gross profit to BRL 30.9 million, but the gross margin decreased to 38.2% [7][9] - The transition to Zenvia Customer Cloud is impacting SaaS margins, which are expected to improve as the business scales [9][16] Customer Metrics - Total active customers decreased to 10,462, down 21.1% year-over-year, with a notable decline in both SaaS and CPaaS customer bases [11][24] - Active customers in the SaaS segment were 5,668, down 20.6% year-over-year, while CPaaS active customers were 4,794, down 25.8% [10][11]

Company Overview - Zenvia Inc. is a leading cloud-based customer experience (CX) platform in Latin America, focusing on transforming customer journeys for companies [3] - The company has over 10,000 customers and operates throughout Latin America, providing a unified, multi-channel customer cloud platform [3] Financial Announcement - Zenvia will release its fiscal first quarter 2025 results after the market closes on July 2, 2025 [1] - A webcast to discuss the results and business outlook is scheduled for July 3, 2025, at 10:00 am ET [2]

Zenvia (ZENV) Q4 2024 Earnings Call May 20, 2025 10:00 AM ET Company Participants Cassio Bobsin Machado - Founder, CEO, Chairman & Interim Chief Sales OfficerShay Chor - CFO Operator REPRESENTATIVE:] Today's conference is being recorded and a replay will be available at the company's IR website, where you can also access today's presentation. At this time, all participants are in listen only mode. After the prepared remarks, there will be a question and answer session. And for the Q and A session, we ask yo ...

Financial Data and Key Metrics Changes - In Q4 2024, revenues reached BRL 231 million, up 7% year over year, primarily driven by strong volume growth in CPaaS, offsetting declines in SaaS revenues [16][20] - Adjusted gross profit declined 60% to BRL 49 million, with gross margin decreasing to 21% due to a higher mix of lower-margin CPaaS growth and a one-time SMS cost adjustment of BRL 27.8 million recognized in Q4 [16][17] - EBITDA, excluding certain expenses, closed the quarter at BRL 35 million, a 6% decline from BRL 37 million in Q4 2023 [19] Business Line Data and Key Metrics Changes - The Customer Cloud segment generated revenues of approximately BRL 180 million in 2024, with an expected growth of 25% to 30% in 2025 [14][15] - CPaaS market grew 25% year over year between 2023 and 2024, while SaaS grew at high single digits, indicating a more dynamic CPaaS market [20] - SaaS margins declined due to tighter profitability from enterprise clients and higher costs related to the launch of the Customer Cloud [19] Market Data and Key Metrics Changes - The market for Customer Cloud solutions is expected to continue growing at a strong double-digit pace in the coming years, supported by advanced automation and AI [15] - International expansion, particularly in Argentina and Mexico, is performing well and contributing positively to the Customer Cloud segment [11][12] Company Strategy and Development Direction - The company has entered its fourth strategic cycle focused on accelerating growth in its newly defined core business, the Zenvia Customer Cloud [7][12] - A shift to a volume-based pricing model is being implemented, allowing clients to pay based on interactions rather than a per-seat model, enhancing operational efficiency [11][12] - The company is committed to streamlining operations further with AI and automation, while also evaluating opportunities for divestments to optimize capital structure [28][54] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the early improvements seen in Q1 2025, with expectations of revenue growth picking up and SaaS margin recovery [30][60] - The company is focused on leveraging its unified platform and market opportunities to drive organic growth and profitability while reducing leverage [12][28] Other Important Information - The company ended 2024 with a cash balance of BRL 117 million and expects EBITDA to continue growing at a faster pace than CapEx [26] - G&A expenses were reduced by 11% year over year, contributing to improved operational efficiency [24][23] Q&A Session Summary Question: Can you provide clarity on Zenvia's full year 2025 revenue outlook? - The Customer Cloud segment is projected to grow 25% to 30%, while traditional SaaS and CPaaS business lines are expected to see flat to modest growth [34][35] Question: What is the current status of your divestment plans? - Specific details on divestments cannot be shared, but the focus is on improving capital structure and deleveraging the balance sheet [37][38] Question: What new trends are emerging with AI integration? - The company is seeing a shift towards more interconnected use cases that leverage customer data for personalized experiences [40] Question: How is the pricing model evolving? - The company is moving towards a usage-based pricing model, charging per interaction rather than per seat, which is expected to enhance efficiency and revenue [41][43] Question: What are the main goals for 2025? - The primary goals include improving EBITDA and aligning it better with the capital structure, while also focusing on organic growth and customer engagement [53][55]

ZENVIA New Strategic Cycle 4Q & FY 2024 Earnings Presentation Opening Remarks Cassio Bobsin Founder & CEO AI is no longer a promise. It has become a fundamental pillar in how companies engage with their customers. 3 2003 | Startup 2011 | SMS Consolidation 2018 | Portfolio expansion with a focus on CX SaaS 2025 | Zenvia Customer Cloud BUSINESS CYCLES STRATEGIC CYCLES | STARTING THE 4TH CYCLE 4 Innovative Model Flexibility of adoption Use of AI Scalable Revenue 5 Key Financial Highlights Shay Chor CFO Used by ...

[Financial & Operational Performance Overview](index=2&type=section&id=Financial%20%26%20Operational%20Performance%20Overview) [Management Commentary](index=2&type=section&id=Management%20Commentary) Management highlighted the strategic shift to the Zenvia Customer Cloud and acknowledged that while EBITDA grew, it missed guidance due to Q4 challenges - CEO Cassio Bobsin emphasized the launch of Zenvia Customer Cloud, an integrated, AI-driven platform, as the new core business, with **nearly 6,000 clients** adopting it by year-end[6](index=6&type=chunk) - CFO Shay Chor noted that **2024 Normalized EBITDA grew 38% YoY but missed guidance**, impacted by Q4 cost adjustments and increased SMS costs, with profitability expected to normalize in 2025[6](index=6&type=chunk) [Key Financial & Operational Highlights](index=2&type=section&id=Key%20Financial%20%26%20Operational%20Highlights) Full-year 2024 revenue grew 18.8%, but gross margin declined, guidance was missed, and the active customer base shrank by 17.8% **Full Year 2024 vs. 2023 Financial Metrics** | Key Financial Metrics (BRL MM) | FY 2024 | FY 2023 | YoY Change | | :--- | :--- | :--- | :--- | | Revenues | 959.7 | 807.6 | 18.8% | | Gross Profit | 294.8 | 330.5 | -10.8% | | Normalized EBITDA | 105.1 | 76.1 | 38.1% | | Income/Loss of the Period | (154.7) | (60.8) | 154.5% | | Total Active Customers | 10,622 | 12,929 | -17.8% | **Q4 2024 vs. Q4 2023 Financial Metrics** | Key Financial Metrics (BRL MM) | Q4 2024 | Q4 2023 | YoY Change | | :--- | :--- | :--- | :--- | | Revenues | 231.4 | 217.0 | 6.6% | | Gross Profit | 36.6 | 110.3 | -66.8% | | Normalized EBITDA | 34.8 | 37.1 | -6.2% | - G&A expenses as a percentage of revenue improved significantly, **decreasing by 4.1 percentage points to 11.9%** in FY 2024 from 16.0% in FY 2023[5](index=5&type=chunk)[12](index=12&type=chunk) - The company's cash balance **increased by 83.4% YoY to BRL 116.9 million** at the end of 2024, reflecting a focus on cash preservation[6](index=6&type=chunk)[19](index=19&type=chunk) [Subsequent Events & Strategic Outlook](index=4&type=section&id=Subsequent%20Events%20%26%20Strategic%20Outlook) Post-year-end, Zenvia launched a new strategic cycle focused on its Zenvia Customer Cloud solution for future growth - On January 13, 2025, Zenvia announced a **new strategic cycle centered on its newly launched Zenvia Customer Cloud solution**[13](index=13&type=chunk) - The Zenvia Customer Cloud platform has been adopted by **approximately 6,000 companies**, with 20% being international clients[13](index=13&type=chunk) - The platform is estimated to have generated **close to R$180 million in revenue** for the year ended December 31, 2024[13](index=13&type=chunk) [Business Segment Performance](index=4&type=section&id=Business%20Segment%20Performance) [SaaS Business](index=4&type=section&id=SaaS%20Business) SaaS revenue grew 8.0% annually but declined in Q4, with full-year gross margin falling due to competition and platform launch costs **SaaS Business Performance (FY 2024 vs. FY 2023)** | Metric (BRL MM) | FY 2024 | FY 2023 | YoY Change | | :--- | :--- | :--- | :--- | | Revenues | 318.7 | 295.0 | 8.0% | | Non-GAAP Adj. Gross Profit | 179.1 | 188.3 | -4.9% | | Non-GAAP Adj. Gross Margin | 56.2% | 63.8% | -7.6 p.p. | | Total Active Customers | 5,936 | 7,127 | -16.7% | - Q4 2024 revenue **declined 9.7% YoY**, primarily due to a decrease in revenues from Enterprise customers facing a very competitive environment[14](index=14&type=chunk)[16](index=16&type=chunk) - The full-year Non-GAAP Adjusted Gross Margin decline was attributed to **tighter margins from large enterprises** and higher infrastructure costs for the Zenvia Customer Cloud launch[17](index=17&type=chunk)[18](index=18&type=chunk) [CPaaS Business](index=5&type=section&id=CPaaS%20Business) CPaaS revenue grew 25.1% annually, but profitability was severely impacted by higher SMS costs and a strategic shift to lower-margin clients **CPaaS Business Performance (FY 2024 vs. FY 2023)** | Metric (BRL MM) | FY 2024 | FY 2023 | YoY Change | | :--- | :--- | :--- | :--- | | Revenues | 641.0 | 512.6 | 25.1% | | Non-GAAP Adj. Gross Profit | 166.4 | 194.3 | -14.3% | | Non-GAAP Adj. Gross Margin | 26.0% | 37.9% | -11.9 p.p. | | Total Active Customers | 4,963 | 6,263 | -20.8% | - Q4 2024 Non-GAAP Adjusted Gross Margin was exceptionally low at **4.0% due to a BRL 27.8 million SMS cost adjustment** related to the full year; excluding this, the margin would have been 21.8%[22](index=22&type=chunk) - The full-year margin decline was attributed to **higher SMS costs and a deliberate strategy to acquire new clients with tighter margins**, which is expected to pay off in the long term[23](index=23&type=chunk)[25](index=25&type=chunk) [Consolidated Financial Result Analysis](index=5&type=section&id=Consolidated%20Financial%20Result%20Analysis) Strong revenue growth was offset by significant margin pressure from higher costs and strategic pricing, leading to a miss on annual EBITDA guidance - Q4 performance was negatively impacted by a combination of factors: **higher SMS costs and lower margins from new CPaaS clients**, alongside fierce competition and increased infrastructure costs in the SaaS segment[25](index=25&type=chunk)[26](index=26&type=chunk) - Despite a **37% YoY reduction in Q4 G&A expenses**, the drop was not enough to offset the lower gross margins from both business segments[27](index=27&type=chunk) - The company **missed its annual guidance for 2024**, with Normalized EBITDA of BRL 105.1 million falling below the BRL 120-140 million range, due to the aforementioned margin pressures[19](index=19&type=chunk)[30](index=30&type=chunk)[31](index=31&type=chunk) [Detailed Financial Statements](index=7&type=section&id=SELECTED%20FINANCIAL%20DATA) [Income Statement](index=7&type=section&id=Income%20Statement) FY 2024 saw 18.8% revenue growth but a 10.8% gross profit decline, with a surge in net financial expenses driving a 154.5% larger net loss **Key Income Statement Items (FY 2024 vs. FY 2023)** | Metric (in thousands of BRL) | FY 2024 (audited) | FY 2023 (audited) | YoY Change | | :--- | :--- | :--- | :--- | | Revenue | 959,680 | 807,577 | 18.8% | | Gross profit | 294,773 | 330,542 | -10.8% | | Operating gain (loss) | 3,275 | (10,711) | n.m. | | Financial expenses, net | (131,309) | (44,052) | 198.1% | | Income/Loss for the period | (154,658) | (60,771) | 154.5% | [Balance Sheet](index=8&type=section&id=Balance%20Sheet) The balance sheet shows a significant cash increase and higher total liabilities, while equity decreased due to accumulated losses **Key Balance Sheet Items (as of Dec 31)** | Metric (in thousands of BRL) | 2024 (audited) | 2023 (audited) | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | 116,884 | 63,742 | | Total current assets | 318,990 | 250,331 | | Intangible assets | 1,318,099 | 1,347,327 | | **Total assets** | **1,743,554** | **1,711,564** | | **Liabilities & Equity** | | | | Total current liabilities | 674,759 | 607,374 | | Total non-current liabilities | 297,380 | 215,243 | | **Total liabilities** | **972,139** | **822,617** | | **Total equity** | **771,415** | **888,947** | [Cash Flow Statement](index=9&type=section&id=Cash%20Flow) Operating cash flow decreased, while a reversal in financing activities led to a net BRL 53.1 million increase in cash for the year **Cash Flow Summary (FY 2024 vs. FY 2023)** | Metric (in thousands of BRL) | FY 2024 (audited) | FY 2023 (audited) | | :--- | :--- | :--- | | Net cash from operating activities | 107,771 | 162,547 | | Net cash used in investing activities | (62,618) | (53,903) | | Net cash from (used in) financing activities | 9,105 | (143,766) | | **Net increase (decrease) in cash** | **53,142** | **(36,501)** | [Indebtedness](index=9&type=section&id=Indebtedness) Total indebtedness increased to BRL 126.9 million at year-end, driven primarily by a rise in working capital financing **Indebtedness (as of Dec 31)** | Category (in thousands of BRL) | 2024 (audited) | 2023 (audited) | | :--- | :--- | :--- | | Working capital | 114,762 | 69,667 | | Debentures | 12,093 | 18,129 | | **Total** | **126,855** | **87,796** | [Non-GAAP Financial Measures Reconciliation](index=10&type=section&id=Special%20Note%20Regarding%20Non-GAAP%20Financial%20Measures) [Reconciliation of Gross Profit](index=10&type=section&id=Reconciliation%20of%20Gross%20Profit) Non-GAAP Adjusted Gross Profit fell 9.7% to BRL 345.5 million after adding back BRL 50.7 million in amortization from the SaaS segment **Consolidated Gross Profit Reconciliation (FY 2024)** | Metric (in thousands of BRL) | Amount | | :--- | :--- | | Gross profit (IFRS) | 294,773 | | (+) Amortization of intangibles | 50,746 | | **Non-GAAP Adjusted Gross Profit** | **345,519** | | Non-GAAP Adjusted Gross Margin | 36.0% | - The amortization of intangible assets from business combinations, which is the sole adjustment to gross profit, is **entirely allocated to the SaaS segment**[45](index=45&type=chunk)[47](index=47&type=chunk) [Reconciliation of EBITDA](index=12&type=section&id=Reconciliation%20of%20EBITDA) Normalized EBITDA rose 38.1% to BRL 105.1 million, primarily adjusted for non-recurring items like a significant Q4 SMS cost accrual **EBITDA Reconciliation (FY 2024)** | Metric (in thousands of BRL) | Amount | | :--- | :--- | | Income/Loss for the period | (154,658) | | (+) Taxes, Net Financial Exp, D&A | 250,000 | | **Adjusted EBITDA** | **95,294** | | (+) Earn-outs | 9,822 | | **Normalized EBITDA** | **105,116** | - A significant non-recurring event of **BRL 27.8 million, related to an SMS cost adjustment**, was excluded from Q4 2024 results to arrive at Normalized EBITDA[50](index=50&type=chunk)

Core Insights - Zenvia Inc. reported strong revenue growth driven by its CPaaS segment, with total revenues for FY 2024 reaching BRL 960 million, an 18.8% increase from BRL 808 million in FY 2023 [6][26] - The company launched Zenvia Customer Cloud in October 2024, which integrates AI into customer experience solutions, and has already attracted nearly 6,000 clients [2][11] - Despite revenue growth, profitability metrics fell short of expectations due to increased costs, particularly in the SMS segment, and competitive pressures in the SaaS market [2][26] Financial Performance - Q4 2024 revenues were BRL 231.4 million, a 6.6% increase from BRL 217 million in Q4 2023, with CPaaS revenues growing by 17% year-over-year [6][19] - Full-year Normalized EBITDA reached BRL 105.1 million, up 38.1% from BRL 76.1 million in 2023, but below the guidance range of BRL 120 million to BRL 140 million [27][26] - The company's G&A expenses decreased by 37% year-over-year in Q4 to BRL 19 million, improving the G&A as a percentage of revenues to 8.3% [10][24] Segment Analysis - The SaaS segment experienced a revenue decline of 9.7% in Q4 2024, primarily due to lower revenues from Enterprise customers, while full-year SaaS revenues increased by 8% [12][14] - The CPaaS segment reported revenues of BRL 155.9 million in Q4 2024, a 16.9% increase year-over-year, but faced a significant drop in Non-GAAP Adjusted Gross Profit, down 90.9% [17][19] - Total active customers at the end of FY 2024 were 10,622, with a notable decrease in active customers in both SaaS and CPaaS segments [10][12] Strategic Initiatives - The launch of Zenvia Customer Cloud is positioned as a key strategic initiative, aimed at enhancing customer engagement through AI-driven solutions [2][11] - The company plans to focus on organic growth, expanding its partner ecosystem, and streamlining operations as part of its new strategic cycle announced in January 2025 [2][26] - Zenvia aims to normalize profitability in 2025, with expectations of recovering margins impacted by SMS cost adjustments and competitive pressures [2][19]