Financial Data and Key Metrics Changes - Operating free cash flow grew by 16% in the first half of the year, significantly outpacing the top line growth of 6% [10] - Net revenue reached R$98.2 million, a 6.5% increase compared to the first half of 2024 [11] - Adjusted EBITDA for the first half was $21 million, representing a 20% decline compared to the same period last year [11] - Revenue recurrence reached 92.2%, with churn decreasing to 2.4% a year, reflecting improved customer engagement [11] Business Line Data and Key Metrics Changes - Cost savings of R$5.2 million were unlocked through automation and AI initiatives, equating to 50% of all free cash flow generated in 2024 [5] - The company established a foundation for an additional R$12 million in savings over the next 12 months [5] - The implementation of AI has led to a 40% increase in productivity for engineers working with Claude Code [5] Market Data and Key Metrics Changes - The average EBITDA multiple for acquisitions has decreased to around 3.5 times, down from 10 to 13 times two years ago, benefiting the company in capital raising [17] - The Brazilian interest rate is currently at 15%, the highest since 2002, which has positively impacted acquisition multiples [17] Company Strategy and Development Direction - The company is focused on increasing cash flow generation and operational efficiency through AI-driven initiatives and preparing for scaling through new acquisitions [2] - A binding term sheet was signed to acquire MCA Solutions, expected to contribute approximately R$40 million in pro forma annual revenue and R$20 million in pro forma EBITDA [9] - The company aims to complete another two acquisitions by year-end as part of its broader plan to scale its platform and enhance value delivery [10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in generating more cash than ever and expects to continue improving cash generation margins [15] - The company does not foresee any adjustments needed on projections for the business moving forward despite high interest rates [17] - Management highlighted the importance of AI implementation in various operational aspects to enhance digital transformation and free cash flow [22] Other Important Information - The company has doubled its total volume of deal flow and is finding better accretive targets with an average EBITDA of 46% [9] - The Nvni AI Index was created to track AI adoption across portfolio companies and M&A targets, aligning leadership around a clear AI strategy [6] Q&A Session Summary Question: How do you plan to fund future acquisitions? - The company plans to raise straight debt to fund future acquisitions, leveraging improved cash generation margins [15] Question: Do you plan to divest any other companies? - The company does not plan to divest any businesses currently in its portfolio, focusing instead on cash flow generation [16] Question: What impact does the historically high interest rate have on Nvni companies? - The high interest rate has led to lower acquisition multiples, which is beneficial for the company in raising capital [17] Question: Which company did you divest? - The company divested SmartNX [18] Question: Discuss how you are implementing AI and its impact on the company. - AI is being implemented in customer support, sales, software development, and financial workflows to enhance digital transformation and free cash flow [22] Question: When can we expect the new companies to be acquired? - The company is in due diligence with four companies and aims to close all acquisitions within the year [23] Question: Discuss cross-selling synergies between your operating companies. - The company is applying Salesforce across its portfolio to leverage existing customer networks for increased sales [25]

Financial Data and Key Metrics Changes - Operating free cash flow grew by 16% in the first half of 2025, significantly outpacing the top line growth of 6% [11] - Net revenue reached $98.2 million, reflecting a 6.5% increase compared to the first half of 2024 [12] - Adjusted EBITDA for the first half was $21 million, representing a 20% decline compared to the same period last year [12] - Revenue recurrence improved to 92.2%, with churn decreasing to 2.4%, a 14% improvement year-over-year [12] Business Line Data and Key Metrics Changes - Cost savings of R$5.2 million were achieved through automation and AI initiatives, equating to 50% of all free cash flow generated in 2024 [5] - The launch of three new AI-first products is already generating incremental revenue, with expectations for continued revenue contributions over the next 12 months [6] Market Data and Key Metrics Changes - The company signed a binding term sheet to acquire MCA Solutions, expected to contribute approximately R$40 million in pro forma annual revenue and R$20 million in pro forma EBITDA [10] - The average EBITDA of acquisition targets has improved to 46%, indicating a more favorable deal flow [10] Company Strategy and Development Direction - The company is focused on increasing cash flow generation and operational efficiency through AI-driven initiatives and preparing for scaling through new acquisitions [2] - A shift from equity-based financing to debt financing is planned to avoid shareholder dilution while executing the acquisition pipeline [9] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to continue generating cash flow and improving margins, particularly due to AI implementations [15] - The high Brazilian interest rate is seen as beneficial, allowing for lower acquisition multiples and continued growth without adjustments to business projections [17] Other Important Information - The company has implemented Salesforce across all portfolio companies to enhance cross-selling opportunities [7][24] - The Nvni AI Index was created to track AI adoption and evaluate acquisition targets, aligning leadership around a clear AI strategy [6] Q&A Session Summary Question: How do you plan to fund future acquisitions? - The company plans to raise straight debt and expects cash flow from businesses to support future acquisitions [15] Question: Do you plan to divest any other companies? - No further divestments are planned as the current portfolio is performing well [16] Question: What impact does the historically high interest rate have on Nvni companies? - The high interest rate has led to lower acquisition multiples, benefiting the company in capital raising and growth [17] Question: Which company did you divest? - The company divested SmartNX [18] Question: Discuss how you are implementing AI and its impact on the company. - AI is being implemented in customer support, sales, software development, and financial workflows to enhance digital transformation and free cash flow [21] Question: When can we expect the new companies to be acquired? - The company is in due diligence with four companies and aims to close all acquisitions within the year [22] Question: Discuss cross-selling synergies between your operating companies. - The implementation of Salesforce across the portfolio will enable leveraging existing customer networks for increased sales [24]