Company Overview - Zenvia Inc. (NASDAQ:ZENV) is a technology company that develops a cloud-based platform for organizations to integrate various communication capabilities internationally, operating in the SaaS and Communications Platform as a Service segments [4]. Leadership Change - On September 15, Zenvia announced the election of Piero Rosatelli as the new Chief Financial Officer (CFO) and Investor Relations Officer (IRO), succeeding Shay Chor, who served for 4 years and will continue to consult Zenvia's Audit Committee during the transition [1][2]. - Prior to his appointment, Rosatelli resigned from his position as a Zenvia Board Member and has a strong background in technology investments, having led over 40 tech deals in his 16-year career [2][3]. Educational Background - Piero Rosatelli holds a bachelor's degree in business administration and an MBA from Insper, and he currently serves on the boards of Tolife and Interplayers Soluções Integradas [3].

Core Insights - Zenvia Inc. has appointed Mr. Piero Rosatelli as the new Chief Financial Officer (CFO) and Investor Relations Officer (IRO), succeeding Mr. Shay Chor [1][3] - Mr. Rosatelli has a strong background in technology investments and has led over forty tech deals, indicating his extensive experience in the sector [2] Company Overview - Zenvia is a leading cloud-based customer experience (CX) solution provider in Latin America, focusing on creating personalized and engaging experiences throughout the customer journey [1][4] - The company has nearly 10,000 customers and operates across Latin America, aiming to enhance brand presence, increase sales, and improve customer support [4]

Core Points - A significant immigration raid occurred at a Hyundai Motor and LG Energy Solution battery plant in Ellabell, Georgia, resulting in the detention of approximately 475 individuals, including over 300 South Koreans [1][4] - A chartered plane carrying the detained South Korean workers departed from Atlanta, marking a diplomatic incident between the U.S. and South Korea [2][4] - The South Korean government is actively working to ensure the safe return of its nationals and is collaborating with affected companies [5][6] Company Impact - The raid has led to a delay of at least two to three months in the construction of the battery plant, as stated by Hyundai CEO Jose Munoz [6] - Munoz expressed surprise at the immigration action, noting that the use of specialized labor is common during the initial phases of plant construction [7] - The plant's construction requires specialized skills and equipment that are not readily available in the U.S., highlighting the reliance on foreign labor for such projects [7]

Financial Data and Key Metrics Changes - In Q2 2025, the company reported a strong top-line growth of 24%, primarily driven by CPaaS and the rollout of Zenvia Customer Cloud [3][4] - Consolidated adjusted gross profit fell to R$69 million, with a gross margin down to 24%, although stable compared to Q1 [4][5] - Normalized EBITDA for the quarter was R$11 million, below expectations, but the company anticipates a progressive recovery throughout the year [5][11] Business Line Data and Key Metrics Changes - SaaS revenues grew 3% year over year in Q2, mainly from SMB customers, while Zenvia Customer Cloud revenues increased by 23% in the first half of the year [5][6] - CPaaS revenues were up by 33%, accounting for 72% of total revenues, but this higher mix with low margins negatively impacted gross profits and margins [7][9] Market Data and Key Metrics Changes - The market remains highly volatile and competitive, particularly affecting profitability in the short term [4][12] - The company expects CPaaS margins to normalize closer to 20% by Q4 of this year [9][21] Company Strategy and Development Direction - Zenvia Customer Cloud is positioned as the new core business, with expectations of 25% to 30% growth in 2025 [6][12] - The company is focusing on streamlining operations and enhancing efficiency, with AI playing a significant role [12][36] - There are ongoing evaluations for divesting non-core assets to optimize the balance sheet [12][28] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the competitive landscape and pricing pressures but believes the current strategy will lead to long-term profitability [20][23] - The company is optimistic about the future, expecting to transition from volatile revenues to a more stable, high-margin business model [35][36] Other Important Information - G&A expenses decreased by R$9 million, or 27%, compared to the same period last year, bringing the G&A to revenues ratio down to 9% [5][10] - The company has implemented strict expense management since the end of 2022, resulting in significant cost savings [10][11] Q&A Session Summary Question: Can you provide more color on forward guidance for Zenvia Customer Cloud? - The company maintains expectations of around R$200 million in revenues for Zenvia Customer Cloud, with growth of approximately 25% and gross margins close to 70% [16] Question: Are tight margins on the CPaaS side the new level? - Management indicated that while margins are under pressure, they expect stabilization at a higher level by year-end as cost increases from carriers are passed through [20][21] Question: How is the enterprise side performing for both Zenvia Customer Cloud and the rest of SaaS? - The company has seen adoption of Zenvia Customer Cloud by enterprise customers, which was not the initial focus, indicating a positive shift in strategy [24][25] Question: Can you provide insights on cash flow and divestitures? - The trailing 12 months EBITDA is close to R$100 million, with approximately R$60 to R$65 million in cash flow available to serve debt, leading to considerations for asset divestment [26][28]

Financial Data and Key Metrics Changes - In Q2 2025, the company reported a strong top-line growth of 24%, primarily driven by CPaaS and the rollout of Zenvia Customer Cloud [3][4] - Consolidated adjusted gross profit fell to R$69 million, with a gross margin down to 24%, although stable compared to Q1 [4][5] - Normalized EBITDA for the quarter was R$11 million, below expectations, but the company anticipates a progressive recovery throughout the year [5][11] Business Line Data and Key Metrics Changes - SaaS revenues grew 3% year-over-year in Q2, mainly from SMB customers, while revenues from Zenvia Customer Cloud increased by 23% in the first half of the year [5][6] - CPaaS revenues were up by 33%, accounting for 72% of total revenues, but this higher mix with low margins negatively impacted gross profits and margins [7][9] Market Data and Key Metrics Changes - The market remains highly volatile and competitive, particularly affecting profitability in the short term [4][12] - The company expects CPaaS margins to normalize closer to 20% by Q4 of this year [9][21] Company Strategy and Development Direction - Zenvia Customer Cloud is positioned as the new core business, with expectations of 25%-30% growth in 2025 [6][12] - The company is focusing on streamlining operations and enhancing efficiency, with AI playing a significant role [12][36] - There are ongoing evaluations for divesting non-core assets to optimize the balance sheet [12][26] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the competitive landscape and pricing pressures but remains confident in the long-term strategy [20][23] - The company aims to transition from volatile revenues to a more stable, high-margin business model over the next two to three years [35][36] Other Important Information - G&A expenses decreased by 27% year-over-year, contributing to a lower G&A to revenues ratio of 9% in the quarter [5][10] - The company has implemented a workforce reduction of approximately 15%, expected to yield cost savings of R$30 million to R$35 million for the full year 2024 [10][12] Q&A Session Summary Question: Can you provide more color on forward guidance for Zenvia Customer Cloud? - The company maintains expectations of around R$200 million in revenues for Zenvia Customer Cloud, with growth of approximately 25% and gross margins close to 70% [16][15] Question: Are tight margins in CPaaS the new level, or should we expect recovery? - Management indicated that while margins are under pressure due to competition, they expect stabilization at a higher level by year-end [20][21] Question: How are the dynamics for enterprise customers in both Zenvia Customer Cloud and the rest of SaaS? - The company has seen adoption of Zenvia Customer Cloud by enterprise customers, which was not the initial focus, but is proving successful [24][25] Question: Can you provide insights on cash flow and divestitures? - The trailing 12 months EBITDA is close to R$100 million, with approximately R$60 million-R$65 million in cash flow available to serve debt [26][27]

Financial Data and Key Metrics Changes - In Q2 2025, the company reported a strong top-line growth of 24%, primarily driven by CPaaS and the rollout of Zenvia Customer Cloud [3][4] - Consolidated adjusted gross profit fell to R$69 million, with a gross margin down to 24%, although this margin remained stable compared to Q1 [4][5] - Normalized EBITDA for the quarter was R$11 million, which was below expectations, but a progressive recovery is anticipated throughout the year [5][12] Business Line Data and Key Metrics Changes - SaaS revenues grew by 3% year over year in Q2, mainly from SMB customers, while Zenvia Customer Cloud revenues increased by 23% in the first half of the year [5][6] - CPaaS revenues were up by 33%, accounting for 72% of total revenues, but this higher mix with low margins negatively impacted gross profits and margins [7][10] - Adjusted gross profit for the SaaS business was up 5% year over year to R$45 million, with adjusted gross margin slightly up by 1 percentage point to 55% [8][9] Market Data and Key Metrics Changes - The market remains highly volatile and competitive, particularly affecting profitability in the short term [4][13] - The company expects CPaaS margins to normalize closer to 20% by Q4 of this year [10][22] Company Strategy and Development Direction - Zenvia Customer Cloud is positioned as the new core business, with expectations of 25% to 30% growth in 2025 [6][12] - The company is focusing on streamlining operations and enhancing efficiency, with AI playing a significant role in both client delivery and internal operations [13][36] - There is an ongoing evaluation of options to divest non-core assets to optimize the balance sheet [13][29] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the competitive landscape and pricing pressures but believes that the current strategy will lead to long-term profitability recovery [22][25] - The company is confident in achieving a solid foundation for 2026, with expectations of improved profitability levels by the end of the year [12][36] Other Important Information - G&A expenses decreased by R$9 million, or 27%, compared to the same period last year, bringing the G&A to revenues ratio down to 9% [5][11] - The company has seen a significant reduction in G&A expenses, now at one-third of what it was in the first half of 2022 [11] Q&A Session Summary Question: Can you provide more color on forward guidance for Zenvia Customer Cloud? - The company maintains expectations of around R$200 million in revenues for Zenvia Customer Cloud, with growth around 25% and gross margin close to 70% [18][19] Question: Are tight margins on the CPaaS side the new level? - Management indicated that while margins are under pressure, they expect stabilization at a higher level by year-end as cost increases from carriers are passed through [22][23] Question: How is the enterprise side performing for both Zenvia Customer Cloud and the rest of SaaS? - The company has been able to retain enterprise customers and is seeing adoption of Zenvia Customer Cloud by these clients, which was not the initial focus [26][27] Question: Can you provide insights on cash flow and divestitures? - The trailing 12 months EBITDA is close to R$100 million, with approximately R$60 to R$65 million in cash flow available to serve debt, indicating a near break-even position by year-end [28][29] Question: What will the business look like in two to three years? - The company aims to become a leading AI CX SaaS provider, transitioning from volatile revenues to a more stable, high-margin business model [36][38]

Financial Performance - Zenvia's net revenues increased from BRL 231 million in Q2 2024 to BRL 286 million in Q2 2025[4] - Non-GAAP adjusted gross profit increased from BRL 100.2 million in Q2 2024 to BRL 101 million in Q2 2025[11] - EBITDA decreased from BRL 34 million in Q2 2024 to BRL 11 million in Q2 2025[6] - General & Administrative (G&A) expenses decreased by 25% from H1 2024 to H1 2025, from BRL 64.6 million to BRL 48.2 million[14] Segment Performance - Zenvia Customer Cloud (SaaS) revenues increased 23% year-over-year[7] - CPaaS revenue mix increased, impacting gross profit[7] - SaaS revenue mix increased from 66% to 72%, while CPaaS decreased from 34% to 28%[8] - Non-GAAP adjusted gross margin for SaaS increased slightly from 54.5% to 55.4%[11] - Non-GAAP adjusted gross margin for CPaaS decreased from 43.3% to 24.1%[11] Strategic Initiatives - The company is on track to deliver expected savings of BRL 30-35 million from workforce reduction[13] - Zenvia Customer Cloud is on track for 25-30% growth in FY 2025[7]

Financial Performance - Revenue for Q2 2025 reached R$285.7 million, a 23.6% increase from R$231.2 million in Q2 2024[10] - Gross profit for Q2 2025 was R$56.4 million, down 35.6% from R$87.5 million in Q2 2024[10] - Operating loss for Q2 2025 was R$10.2 million, compared to an operating gain of R$10.0 million in Q2 2024[10] - Loss for the period in Q2 2025 was R$41.98 million, compared to a loss of R$15.94 million in Q2 2024[10] - For the six months ended June 30, 2025, Zenvia reported a loss of R$38,321, a significant improvement from a loss of R$72,193 in the same period of 2024, indicating a reduction in losses by approximately 47%[12] - The company reported a net loss of R$38,321 thousand for the six months ended June 30, 2025, compared to a net loss of R$72,419 thousand in the same period of 2024, indicating a 47% improvement in loss[113] - Basic and diluted loss per share for the six months ended June 30, 2025, was R$0.732, compared to R$1.477 for the same period in 2024, reflecting a 50% reduction in loss per share[113] Assets and Liabilities - Total assets decreased to R$1,672.3 million as of June 30, 2025, down from R$1,743.6 million at the end of 2024[7] - Current liabilities increased to R$715.4 million as of June 30, 2025, compared to R$674.8 million at the end of 2024[8] - Total equity decreased to R$742.2 million as of June 30, 2025, down from R$771.4 million at the end of 2024[8] - Zenvia's consolidated working capital as of June 30, 2025, was negative R$444,234, with current assets of R$271,140 and current liabilities of R$715,374[14] - As of June 30, 2025, total liabilities were R$821,742, down from R$868,993 on December 31, 2024[114] - The net debt increased to R$60,001 as of June 30, 2025, from R$9,971 at the end of 2024, resulting in a net debt/equity ratio of 0.08[128] Cash Flow and Financing - The company's cash flow from operating activities was negative R$17,643 for the first half of 2025, compared to a positive cash flow of R$5,269 in the same period of 2024[12] - Zenvia has initiated a strategic focus on its SaaS business, particularly the recently launched Zenvia Customer Cloud, and is evaluating divestment opportunities for non-core assets[15] - The company expects a cash outlay of R$114,786 for the next 12 months to meet short-term financial obligations, including interest and payments due from acquisitions[15] - The company has a total of R$457,911 in trade and other payables as of June 30, 2025, slightly down from R$461,332 at December 31, 2024[114] - The company is committed to obtaining funding to ensure regular operations over the next twelve months, including raising new credit lines[124] Expenses and Costs - Research and development expenses for Q2 2025 were R$9.5 million, a decrease from R$14.1 million in Q2 2024[10] - Key management personnel compensation totaled R$6,173,000 for the six months ended June 30, 2025, down from R$8,804,000 in 2024, a reduction of 30%[97] - The cost of services for the six months ended June 30, 2025, was R$463,626,000, an increase from R$275,403,000 in 2024, reflecting a rise of 68.2%[101] - Total expenses amounted to R$594,098 thousand for the six months ended June 30, 2025, an increase from R$443,494 thousand in the same period of 2024, representing a 34% increase[106] Shareholder and Equity Information - The company issued 504,617 Class A common shares in the first half of 2025, generating gross proceeds of R$7,908,000[98] - Zenvia's controlling shareholder injected R$50,000 as new equity in February 2024, and the company secured R$80,000 in new credit lines from local banks[15] - As of June 30, 2025, the company has 7,221,751 outstanding shares, an increase from 4,683,913 outstanding RSUs on December 31, 2024, reflecting a growth of 54.5%[96] Tax and Regulatory Matters - The company recognized a corporate tax surcharge in Brazil starting January 1, 2025, as part of the new Pillar 2 regulations[42] - The effective tax rate for the six months ended June 30, 2025, was 1.78%, significantly lower than 25.85% in the same period of 2024[109] Strategic Initiatives - The company plans to focus on market expansion and new product development in the upcoming quarters[10] - Management has implemented a 25% workforce reduction since 2022 to enhance profitability, contributing to improved cash generation in FY 2024 and early 2025[15]

Core Insights - Zenvia Inc. reported a 23% year-over-year increase in revenues from its Zenvia Customer Cloud services, indicating a successful transition strategy [2][3] - The company anticipates a full-year growth of 25% to 30% for Zenvia Customer Cloud in 2025, driven by strong adoption among new customers [2] - Despite revenue growth, Zenvia faced profitability challenges due to intense competition in the CPaaS market, leading to a significant decline in gross profit margins [2][12] Financial Performance - Q2 2025 revenues reached BRL 285.7 million, up 23.6% from BRL 231.2 million in Q2 2024, with CPaaS revenues growing by 33% [3][23] - Gross profit for Q2 2025 was BRL 56.4 million, a decrease of 35.6% compared to BRL 87.5 million in Q2 2024, resulting in a gross margin of 19.7% [3][23] - Non-GAAP Adjusted Gross Profit for Q2 2025 was BRL 68.8 million, down 31.3% year-over-year, with a Non-GAAP Adjusted Gross Margin of 24.1% [3][29] SaaS Business Highlights - SaaS revenues increased by 3% year-over-year in Q2 2025, totaling BRL 80.6 million, primarily driven by Zenvia Customer Cloud [8][10] - Non-GAAP Adjusted Gross Profit from the SaaS segment was BRL 44.7 million, reflecting a 5% increase year-over-year, with a Non-GAAP Adjusted Gross Margin of 55.4% [9][29] - The total active customer base for the SaaS segment was 5,783, indicating ongoing customer engagement despite competitive pressures [6][8] CPaaS Business Highlights - CPaaS revenues reached BRL 205.1 million in Q2 2025, a 33.3% increase from BRL 153.9 million in Q2 2024, driven by higher SMS volumes [11][12] - However, Non-GAAP Adjusted Gross Profit for the CPaaS segment fell by 58% to BRL 24.1 million, resulting in a Non-GAAP Adjusted Gross Margin of 11.8% [11][12] - The total active customers in the CPaaS segment decreased by 28.1% year-over-year, totaling 3,958, reflecting challenges in maintaining customer relationships [11][12] Cost Management and Future Outlook - General and administrative expenses decreased by 25% year-over-year in H1 2025, contributing to a G&A as a percentage of revenues of 8.3% [10][17] - Normalized EBITDA for H1 2025 was positive at BRL 31 million, although below expectations, indicating a need for continued focus on profitability [18][10] - The company aims to return to normalized profitability levels by year-end 2025, establishing a solid foundation for growth in 2026 [2][18]

Core Insights - Zenvia Inc. is set to release its fiscal second quarter 2025 results on September 10, 2025, after market close [1] - A webcast to discuss the results and business outlook will be held on September 11, 2025, at 10:00 am ET [1] Company Overview - Zenvia is a leading cloud-based customer experience (CX) platform in Latin America, focusing on transforming customer journeys [3] - The company has over 10,000 customers and operates throughout Latin America, providing a unified, multi-channel customer cloud platform [3] - Zenvia aims to enhance brand presence, increase sales, and improve customer support, thereby generating operational efficiency and productivity [3]