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ZENVIA Reports Q2 2024 and H1 2024 Results

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4 months ago

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Normalized EBITDA of BRL 33.7 million in Q2 2024 and BRL 56.8 million in H1 2024 

Strict cost control led G&A as % of revenues to 14.5% in H1 2024 from 18.5% in H1 2023

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 Latin America empowering companies to craft personal, engaging and fluid experiences throughout the customer journey, today reported its operational and financial metrics for the second quarter of 2024.

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 Latin America. We are excited about the opportunities these innovations present and remain committed to driving continued growth and strengthening our leadership position in the market. Our team’s dedication and the positive response from our clients underscore our confidence in the transformative potential of these solutions and our ability to exceed expectations as we move forward.”

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 10% YoY in Q2, attesting our continued commitment to rigorous cost control, and positively impacting our EBITDA. Looking ahead, we are focused on maintaining this momentum, rolling out Zenvia Customer Cloud and unlocking profitable value from our operations to keep deleveraging the business.”

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.
(2)  We calculate Non-GAAP Gross Margin as Non-GAAP Gross Profit divided by revenue.
(3)  For a reconciliation of our Adjusted EBITDA to Loss for the Period, see Selected Financial Data section below.
(4)  For a reconciliation of our Normalized EBITDA to Loss for the Period, see Selected Financial Data section below.
(5)  In December 2023, the Company identified that the allowance for expected credit losses and cost with amortization of intangibles was understated. The calculation was reassessed in the annual financial statements and Management has retrospectively revised the first six months of 2023 for comparison purposes.
(6)  We define an Active Customer as an account (based on a corporate taxpayer registration number) at the end of any period that was the source of any amount of revenue for us in the preceding three months. We classify a customer from which we generated no revenue in the preceding three months as an Inactive Customer.

Highlights Q2 2024

Revenues totaled BRL 231.2 million, up 19.8% when compared to BRL 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 up 20.4% YoY while Non-GAAP Adjusted Gross Margin was mainly stable, up by 0.2 percentage points to the expected level of 43.3% 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, up 126.1% 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, up 19.3% when compared to BRL 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 up 10.3% YTD while Non-GAAP Adjusted Gross Margin was down 3.6 percentage points YoY to the expected level of 43.7%.Normalized EBITDA was positive BRL 56.8 million in the quarter, up 150.0% from H1 2023, which is in line with our expectations and in line to deliver the full  year guidance of BRL 120 million to BRL 140 million.

SaaS Business

SaaS Key Operational & Financial Metrics
(BRL MM and %)

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.
(2)  We calculate Non-GAAP Adjusted Gross Margin of our SaaS business segment as Non-GAAP Gross Profit of our SaaS business segment divided by revenue of our SaaS business segment.
(3)  We define an Active Customer as an account (based on a corporate taxpayer registration number) at the end of any period that was the source of any amount of revenue for us in the preceding three months. We classify a customer from which we generated no revenue in the preceding three months as an Inactive Customer.

In Q2 2024, our SaaS business Revenue went up 15.6% YoY to BRL 78.0 million, compared to BRL 67.5 million in Q2 2023, primarily from large enterprise customers, especially in the Consulting business that has a low base of comparison in Q2 2023. In H1 2024, our SaaS business revenue increased 13.8%.

As a result, Q2 2024 Non-GAAP Adjusted Gross Profit was mainly stable, up 1.3% YoY to BRL 42.5 million from BRL 42.0 million. It is worth noting that the soft launch of Zenvia Customer Cloud began at the end of Q1 2024, and the team is focused on rolling out all functionalities by Q4 2024, when we expect to launch the full marketing campaign.

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 54.5%, this margin level is expected, given that the large enterprise business carries lower margins when compared to the pure software business of circa 50%. For the same reason, in H1 2024, our Non-GAAP Adjusted Gross Profit was down 2.9%, which resulted in an expected decrease of 9.5 percentage points in our Non-GAAP Adjusted Gross Margin.

CPaaS Business

CPaaS Key Operational & Financial Metrics
(BRL MM and %)

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.
(2)    We calculate Non-GAAP Adjusted Gross Margin of our CPaaS business segment as Non-GAAP Gross Profit of our CPaaS business segment divided by revenue of our CPaaS business segment.
(3)    We define an active customer as an account (based on a corporate taxpayer registration number) at the end of any period that was the source of any amount of revenue for us in the preceding three months. We classify a customer from which we generated no revenue in the preceding three months as an inactive customer.

Our CPaaS business reported Net Revenues of BRL 153.2 million in Q2 2024, up 22.1% YoY, while Non-GAAP Gross Profit increased 39.8% YoY to BRL 57.7 million from BRL 41.2 million in Q2 2023. Non-GAAP Gross Margin reached 37.6%, compared to 32.9% in Q2 2023, mainly due to opportunities of unusually high margins with certain large enterprises.

In H1 2024, our CPaaS business reported Net Revenues of BRL 289.0 million, up 22.5% YTD, with our Non-GAAP Adjusted Gross Profit increasing at a similar rate, leading to a Non-GAAP Adjusted Gross Margin of 37.4%, up 0.4 p.p. YoY. 

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 22% increase in CPaaS top line and 40% increase in Non-GAAP Adjusted Gross Profit during the quarter.

Consolidated Financial Results

Revenue
Consolidated revenues in Q2 2024 totaled BRL 231.2 million, up 19.8% YoY, reflecting the increases of 22.1% in CPaaS and 15.6% in SaaS. In H1 2024 consolidated revenues totaled BRL 443.8 million, up 19.3% YTD, reflecting the increases of 22.5% in CPaaS and 13.8% in SaaS. The soft launch of Zenvia Customer Cloud began at the end of Q1 2024, and the team is focused on rolling out all functionalities by Q4 2024, when we expect to launch the full marketing campaign.

Profitability
Our Consolidated Non-GAAP Adjusted Gross Profit went up by 20.4% YoY in Q2 2024 to BRL 100.2 million, mainly reflecting the 39.8% increase in CPaaS Non-GAAP Adjusted Gross Profit. Non-GAAP Adjusted Gross Margin was stable YoY, up by 0.2 p.p. to 43.3% in Q2 2024 from 43.1% in Q2 2023. Higher than expected CPaaS margins were able to offset lower SaaS margins, as the latter also expanded more with large enterprise customers. In addition, we had a higher share of CPaaS in the revenue mix, of 66.3% in Q2 2024 compared to 65.0% in Q2 2023.

Adjusted EBITDA in Q2 2024 was positive BRL 33.7 million, compared to BRL 14.9 million in Q2 2023. The 125.5% increase is mainly due to higher revenues and stricter expense control. Normalized EBITDA amounted to BRL 56.8 million in H1 2024, which compares to BRL 22.7 million in the same period of 2023.  Our LTM Normalized EBITDA has reached BRL 110.2 million in June 2024, which puts us on track to delivering on the 2024 guidance.

Reiterating FY 2024 Guidance

FY 2024 Guidance

Revenue

BRL$930 – $970 million

     Y/Y Growth

15% – 20%

Non-GAAP Adjusted Gross Margin

42% – 45%

Normalized EBITDA

BRL$120 – $140 million

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

ir@zenvia.com

Media Relations – FG-IR

Fabiane Goldstein – (954) 625-4793 – fabi@fg-ir.com

 

 

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 Latin America, Zenvia enables businesses of all segments to amplify brand presence, escalate sales, and elevate customer support, generating operational efficiency, productivity and results, all in one place. To learn more and get the latest updates, visit our website and follow our social media profiles on LinkedIn, Instagram, TikTok and YouTube.

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
(audited)

June 30, 2024
(non-audited)

(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
(audited)

June 30, 2024
(non-audited)

(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
(audited)

June 30, 2024
(non-audited)

                                                                                                                                               (in thousands of R$)

Working capital

100% CDI+2.51% to 6.55% and 8.60%

69,667

113,730

Debentures

18.16 %

18,129

15,834

Total

87,796

129,564

 

Cash Flow

Q2

H1

2024
(non-audited)

2023
(restated)

2024
(non-audited)

2023
(restated)

(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
(non-audited)

2023
(non-audited)

2024
(non-audited)

2023
(non-audited)

(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.
(2) We calculate gross margin as gross profit divided by revenue.
(3) We calculate Non-GAAP Adjusted Gross Margin as Non-GAAP Adjusted Gross Profit divided by revenue.

 

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
(non-audited)

2023
(non-audited)

2024
(non-audited)

2023
(non-audited)

(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.
(2)    We calculate gross margin for our SaaS business segment as gross profit for our SaaS business segment divided by revenue of our SaaS business segment.
(3)    We calculate Non-GAAP Adjusted Gross Margin for SaaS business segment as Non-GAAP Adjusted Gross Profit for our SaaS business segment divided by revenue for our SaaS business segment.

 

Q2

H1

CPaaS Segment

2024
(non-audited)

2023
(non-audited)

2024
(non-audited)

2023
(non-audited)

(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.
(2)    We calculate gross margin for our CPaaS business segment as gross profit for our CPaaS business segment divided by revenue of our CPaaS business segment.
(3)    We calculate Non-GAAP Adjusted Gross Margin for CPaaS business segment as Non-GAAP Adjusted Gross Profit for our CPaaS business segment divided by revenue for our CPaaS business segment.

 

The following table shows the reconciliation for our Adjusted EBITDA and Normalized EBITDA:

Q2

H1

2024
(non-audited)

2023
(non-audited)

2024
(non-audited)

2023
(non-audited)

(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.
(2)    We calculate Normalized EBITDA as the Adjusted EBITDA adjusted by non-cash impacts from earn-out adjustments.

 

View original content:https://www.prnewswire.com/news-releases/zenvia-reports-q2-2024-and-h1-2024-results-302239975.html

SOURCE Zenvia

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SHEIN Ramps Up Denim Production Using Cool Transfer Denim Printing by 90% in 2024

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January 6, 2025

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Almost 380,000 pieces of denim apparel were produced in 2024 using this process

SINGAPORE, Jan. 6, 2025 /PRNewswire/ — SHEIN is transforming the way its denim is being produced by increasing its adoption of Cool Transfer Denim Printing, a technology that consumes less water and energy compared to traditional denim manufacturing methods, while at the same time creating a more streamlined production process.

Approximately 380,000 pieces of SHEIN’s denim apparel produced in 2024 were made using the Cool Transfer Denim Printing process, saving over 10,000 metric tons of water compared to traditional denim production techniques. This marks a 90% increase from 2023, when 200,000 denim pieces were made using this innovative method. Since introducing Cool Transfer Denim Printing in 2022, SHEIN has saved nearly 19,500 metric tons of water. These milestones illustrate the company’s ability to scale innovation within its supply chain, integrating advanced manufacturing practices, while promoting resource efficiency.

Traditional denim manufacturing is known for being resource-intensive, requiring vast amounts of water and energy for processes such as dyeing, bleaching, and washing. Recognizing these challenges, SHEIN partnered with NTX® in 2021 to introduce Cool Transfer Denim Printing, an innovative process that not only minimizes the use of water and energy but also simplifies the production cycle, ensuring precision and efficiency at every step.

This method of printing involves a digital printer using reactive ink to print denim textures, artwork or patterns onto a transfer film. The designs on the transfer film are then imprinted onto white denim fabric using cold transfer equipment, replicating the effects of washing denim to produce features like faded finishes, whiskering, and retro-worn effects. Verified by Bureau Veritas in October 2023, the process reduces water usage by 70.5% compared to conventional denim washing methods.

In addition to the savings in water and energy, the Cool Transfer Denim Printing process eliminates the need for workers to be in contact with harmful chemicals, such as chlorine and caustic soda, which may be used in traditional denim production. By reducing exposure to these substances, SHEIN aims to foster safer working conditions for workers providing support on denim production.

Innovative On-demand Denim Production Process Aimed at Reducing Water

The integration of Cool Transfer Denim Printing complements SHEIN’s on-demand business model, which leverages a digitalized supply chain to match customer demand with merchandise supply. SHEIN’s process involves launching new products in small initial batches of 100-200 items, assessing customer feedback in real-time, and restocking items based on demand. This approach ensures that suppliers produce what customers want, while helping to reduce overproduction and excess inventory.

Cool Transfer Denim Printing’s streamlined and efficient production process aligns perfectly with this methodology. By simplifying denim manufacturing and enabling precise replication of intricate designs and effects, the technology supports smaller production runs that can be quickly scaled based on customer interest. This synergy allows SHEIN to produce denim pieces to meet demand, while at the same time working towards reducing any additional waste.

Unlocking New Creative Opportunities

Cool Transfer Denim Printing is also a catalyst for creativity and innovation. This technology provides designers with unprecedented flexibility to produce vibrant, intricate, and highly detailed prints that were once challenging to achieve with traditional methods.

The process enables precise replication of denim textures and effects. These capabilities open up limitless possibilities for SHEIN’s design teams, allowing them to craft unique and standout denim pieces that resonate with diverse customer preferences and push the boundaries of modern fashion.

This initiative is part of SHEIN’s broader strategy to accelerate change in manufacturing processes, become more resource-efficient and promote innovation in the future of fashion.

View original content to download multimedia:https://www.prnewswire.com/news-releases/shein-ramps-up-denim-production-using-cool-transfer-denim-printing-by-90-in-2024-302342810.html

SOURCE SHEIN

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Technology

CYPFER Collaborates with Hollywood Powerhouse Michael Bay to Fortify Cybersecurity in the Film and Entertainment Industry

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39 seconds ago

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January 6, 2025

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Protecting Intellectual Property and Creative Assets Becomes Paramount in Hollywood

MIAMI, NEW YORK, TORONTO, LONDON, and DUBAI, UAE, Jan. 6, 2025 /PRNewswire/ – CYPFER, a global leader in cybersecurity, is thrilled to announce its work with Michael Bay, the iconic filmmaker behind blockbuster franchises like Transformers, Bad Boys, and 13 Hours. Known for redefining modern action cinema, Bay’s films have achieved unparalleled success, earning critical acclaim for their stunning visuals and groundbreaking sequences.

This initiative aims to strengthen cybersecurity in the film and entertainment industry, focusing on protecting intellectual property, creative assets, and the digital operations of high-profile productions.

“In today’s entertainment landscape, protecting the creative work that powers our films is as critical as the production itself,” says Michael Bay. “Cyber threats targeting the film industry are on the rise, and ensuring that scripts, footage, and digital assets remain secure is a top priority.”

“The entertainment industry is increasingly targeted by cybercriminals, and securing high-value assets like scripts is vital,” says Daniel Tobok, CEO of CYPFER. “We are proud to support a visionary like Michael Bay and bring our cybersecurity expertise to protect his work and the Hollywood ecosystem.”

“The risks in digital filmmaking are greater than ever,” Bay adds. “CYPFER’s cybersecurity expertise gives me confidence that my work is secure, allowing me to focus on delivering unforgettable stories to audiences worldwide.”

“At CYPFER, we’re committed to protecting the creative assets that drive industries like film and entertainment,” concludes Tobok. “This effort sets a new standard for cybersecurity in Hollywood, ensuring that Michael Bay’s groundbreaking work remains secure against evolving threats.”

About CYPFER

CYPFER is on a global mission to help companies create Cyber Certainty™. With an experienced  team of incident responders, threat researchers, seasoned ransom experts, and data restoration experts, CYPFER is the trusted firm for leading law firms, insurance carriers and  global organizations. CYPFER’s cybersecurity professionals are located across the US, Canada,  UK, and Caribbean. The CYPFER team is ready to respond and help clients experiencing cyber attacks 24x7x365. CYPFER’s experts provide white-glove service and aim to restore Cyber Certainty™ for all clients on every engagement.

CYPFER’s core services include:

Ransomware Advisory

Incident Response Services with specialized expertise in ransomware response and recovery

On-site and/or remote post-breach restoration support to augment internal teams

Digital Forensics to uncover malicious activity, insider threats, and protect sensitive data

Global Incident Response Retainer Services guaranteeing priority access to ransomware advisory, incident response, and recovery support for swift resolution

CYPFER has offices in the USA, Canada, the United Kingdom, Mexico, the Cayman Islands, and the UAE. The company currently employs around 200 cybersecurity experts and has supported clients across six continents. CYPFER is executing plans to expand globally and aims to boast a workforce of 300 cybersecurity professionals by the end of 2025.

View original content:https://www.prnewswire.com/news-releases/cypfer-collaborates-with-hollywood-powerhouse-michael-bay-to-fortify-cybersecurity-in-the-film-and-entertainment-industry-302341270.html

SOURCE CYPFER

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Technology

transcosmos bolsters integrated fulfillment services in Japan via business alliance with DMS

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40 seconds ago

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January 6, 2025

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Further expands global e-commerce one-stop services that cover about 40 countries and regions worldwide

TOKYO, Jan. 6, 2025 /PRNewswire-PRWeb/ — transcosmos hereby announces that the company today, December 23, 2024, began a business alliance with DMS Inc. (Headquarters: Tokyo, Japan; Representative Director and President: Katsuhiko Yamamoto), a company offering logistics and sales promotion services for direct mail and online shopping companies.

Integrating transcosmos’s know-how acquired through operating e-commerce business and CX enhancement solutions built on DMS’s services, transcosmos will streamline its operations while helping clients expand their sales, ultimately leading clients to success.

Along with recent trends and changes in the e-commerce market, every e-commerce business is carrying out a variety of initiatives to deliver a greater customer experience while retaining competitiveness, as is already well known. In particular, to increase repeat customers and strengthen brand loyalty, it is a must to offer a greater post-purchase customer experience. To meet the growing e-commerce business demands, transcosmos will expand its logistics business drastically, focusing on the scalability and quality of its CX fulfillment business.

Under this new business alliance, the two companies will enhance their respective logistics centers—transcosmos’s e-commerce one-stop center Kitakashiwa and DMS’s logistics centers for direct mail and online shopping—through the following initiatives:

Reduce delivery lead time by expanding logistic centers and utilizing centers located in both east and west Japan Increase services by utilizing the latest technologies for logistics DX including automation as well as utilizing printing equipment for catalogue and direct mailOptimize delivery costs by the mutual use of the two companies’ competitive delivery fee by package size

With the initiatives above, the two companies will deliver the best possible services by expanding logistics centers that guarantee the same level of service quality for both companies.

transcosmos e-commerce one-stop services

In addition, transcosmos will add DMS’s CRM services centered around the DMS member database and direct mail to transcosmos e-commerce one-stop service lineup. With the new services in place, transcosmos will further strengthen its sales marketing services by diversifying both digital marketing and real promotion.

Integrating transcosmos’s know-how acquired through operating e-commerce business and CX enhancement solutions built on DMS’s services, transcosmos will streamline its operations while helping clients expand their sales, ultimately leading clients to success.

About transcosmos e-commerce one-stop services
transcosmos e-commerce one-stop services help clients in various ways that best match each client’s needs. The options include: 1) use transcosmos’s managed services that ranges from e-commerce website development and operations, fulfillment (receipt of goods, picking, packaging, and shipping), customer care, web marketing, analysis and more, 2) launch your e-commerce business by yourself, and 3) sell your products via transcosmos’s e-commerce sales channels.
Visit transcosmos e-commerce solution website here (no translation available): https://transcosmos-ecx.jp/

transcosmos is a trademark or registered trademark of transcosmos inc. in Japan and other countries.Other company names and product or service names used here are trademarks or registered trademarks of respective companies.

About DMS Inc.
With a history of over 60 years since foundation, DMS has built a solid customer base offering its core direct mail services as well as logistics, sales promotion, event services across a range of areas where companies and public-sector organizations directly communicate with consumers. Today, DMS is providing integrated information solutions that help companies solve challenges, optimize communication, and create a well-being society by fusing digital and real-world services through promoting alliance with digital companies. For more details, please visit DMS’s solution website, +D SOLUTION here: https://www.dmsjp.co.jp/en/

About transcosmos inc.
transcosmos launched its operations in 1966. Since then, we have combined superior “people” with up-to-date “technology” to enhance the competitive strength of our clients by providing them with superior and valuable services. transcosmos currently offers services that support clients’ business processes focusing on both sales expansion and cost optimization through our 182 bases across 35 countries/regions with a focus on Asia, while continuously pursuing Operational Excellence. Furthermore, following the expansion of e-commerce market on the global scale, transcosmos provides a comprehensive One-Stop Global E-Commerce Services to deliver our clients’ excellent products and services to consumers in 46 countries/regions around the globe. transcosmos aims to be the “Global Digital Transformation Partner” of our clients, supporting the clients’ transformation by leveraging digital technology, responding to the ever-changing business environment. Visit us here https://www.trans-cosmos.co.jp/english/

Media Contact

transcosmos inc., transcosmos inc., +81-3-6709-2251, pressroom@trans-cosmos.co.jp, https://www.trans-cosmos.co.jp/english/

View original content to download multimedia:https://www.prweb.com/releases/transcosmos-bolsters-integrated-fulfillment-services-in-japan-via-business-alliance-with-dms-302342734.html

SOURCE transcosmos inc.

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