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ZENVIA Reports Q3 2024 and 9M 2024 Results

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Double-digit growth in both top-line and profitability, with strong EBITDA and Cashflow

LTM Normalized EBITDA of BRL 135.2 million, on track to meet 2024 guidance 

Official launch of Zenvia Customer Cloud in October 2024

SÃO PAULO, Nov. 18, 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 third quarter and nine months of 2024.

Cassio Bobsin, Founder & CEO of ZENVIA, said: “The highlight this quarter was the conclusion of the strategic plan we initiated back in 2018, that allowed us to officially launch the Zenvia Customer Cloud, a significant milestone in our commitment to enhancing customer relationships through practical, AI-driven solutions. Early adopters have already seen improvements in lead quality, conversion rates, and customer satisfaction, demonstrating the immediate value of this technology. At the same time, this launch is the foundation stone for Zenvia’s CX SaaS strategy for the next five years. Alongside this milestone, we have made strides in streamlining our operations and becoming more efficient, resulting in a notable YoY reduction in G&A expenses as a percentage of revenue. The rollout of Zenvia Customer Cloud and our increased operational efficiency together reflect our focus on enabling more informed and personalized customer interactions while delivering value both to our clients and shareholders.”

Shay Chor, CFO & IRO of ZENVIA, said: “This quarter, we accelerated our organic expansion with double-digit growth in both revenue and profitability. We were able to capitalize on unique temporary revenue opportunities in our CPaaS segment, while in the SaaS segment we saw significant growth with SMBs. At the same time, the combination of stronger revenues and strict expense control resulted in our highest quarterly EBITDA in three years, putting us on track to meet our full year guidance. Last but not least, we continue to take advantage of working capital opportunities to ensure EBITDA is converted into cash.”

Key Financial Metrics (BRL MM and %)

Q3 2024

Q3 2023

YoY

9M 2024

9M 2023

YTD

Revenues

284.4

218.6

30.1 %

728.2

590.6

23.3 %

Gross Profit

89.8

70.9

26.6 %

258.2

220.3

17.2 %

Gross Margin

31.6 %

32.5 %

-1.1p.p.

35.5 %

37.3 %

-2.1p.p.

Non-GAAP Adjusted Gross Profit(1)

102.5

83.8

22.3 %

296.3

259.5

14.2 %

Non-GAAP Adjusted Gross Margin(2)

36.0 %

38.3 %

-2.3p.p.

40.7 %

43.9 %

-3.2p.p.

Operating Income/Loss (EBIT)

17.9

-6.8

n.m

18.2

-26.1

n.m

Adjusted EBITDA(3)(5)

41.2

15.7

162.7 %

87.8

38.4

128.8 %

Normalized EBITDA(4)(5)

41.2

16.3

153.1 %

98.1

39.0

151.3 %

Income/Loss of the Period

52.4

-11.9

n.m

(19.7)

(43.8)

-54.9 %

Cash Balance

102.7

116.5

-11.9 %

102.7

116.5

-11.9 %

Net Cash Flow from (used in) Operating Activities

56.6

16.1

252.3 %

61.9

148.4

-58.3 %

Total Active Customers(6)

12,152

13,624

-10.8 %

12,152

13,624

-10.8 %

(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. The consolidated number of Total Active Customers doesn’t reflect the sum of SaaS and CPaaS Clients, as there is cross selling between them.

Highlights Q3 2024

Revenues totaled BRL 284.4 million, up 30% when compared to BRL 218.6 million in Q3 2023 as a result of both SaaS (+16%) and CPaaS (+37%) YoY expansion. CPaaS saw abnormally high temporary volumes with certain customers, while SaaS grew mainly from small and medium businesses.Non-GAAP Adjusted Gross Profit of BRL 102.5 million was up 22% YoY, while Non-GAAP Adjusted Gross Margin was down by 2.3 percentage points landing at 36.0%. This decrease is mainly due to:

(i)  Higher CPaaS mix in the period due to the specific one-off volumes, which were opportunistic for revenue. We don’t expect this same volume level in Q4 2024.
(ii)  Lower SaaS margins due to tighter margins from enterprises, which continue to reflect a very competitive environment, more than offsetting the better small and medium business mix.

Total active customers were 12.2k, being 6.4k from SaaS and 6.0k from CPaaS. As mentioned last quarter, this YoY decrease reflects a client-base cleanup which took place in Q2 2024.Normalized EBITDA was positive BRL 41.2 million in the quarter, up 153.1% from Q3 2023, benefiting from higher revenues and strict expense control. This was our highest quarterly EBITDA in three years.Cash Balance of BR 102.7 million, a sequential increase of BRL 13.3 million as a direct result of our focus on cash preservation without jeopardizing our sustainable growth, including the continued use of working capital instruments.On October 15, Zenvia announced the official launch of Zenvia Customer Cloud, its comprehensive AI-powered solution designed to transform the customer experience by integrating solutions across all customer journey stages—from marketing and sales to service and relationship management. The Zenvia Customer Cloud allows companies to manage customer interactions across multiple channels, including WhatsApp, email, SMS, and apps, within a single, centralized platform. This unified approach streamlines processes, reducing the need for multiple software solutions, while increasing productivity through intelligent automation. The platform leverages AI-enabled automation to enhance productivity and efficiency, positioning Zenvia for strong, profitable growth while providing deeper insights into customer behavior.

Highlights 9M 2024

Revenues totaled BRL 728.2 million, up 23% when compared to BRL 590.6 million in 9M 2023 as a result of both SaaS (+15%) and CPaaS (+28%) YoY expansion.Non-GAAP Adjusted Gross Profit of BRL 296.3 million was up 14% YoY while Non-GAAP Adjusted Gross Margin was down 3.2 percentage points YoY to 40.7%, due to a higher mix of CPaaS in revenues, combined with lower margins with large enterprises in the SaaS business and an increase in infrastructure costs related to the final phase of the integration of acquired companies.Normalized EBITDA was positive BRL 98.1 million in the period, up 151% from 9M 2023, which is in line with our expectations and on track to deliver the full year guidance of BRL 120 million to BRL 140 million.

SaaS Business

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

Q3 2024

Q3 2023

YoY

9M 2024

9M 2023

YTD

Revenues

87.6

75.3

16.3 %

243.2

211.4

15.0 %

Gross Profit

37.9

33.1

14.5 %

98.1

95.2

3.1 %

Gross Margin

43.3 %

44.0 %

-0.7p.p.

40.3 %

45.0 %

-4.7p.p.

Non-GAAP Adjusted Gross Profit(1)

50.6

46.0

10.0 %

136.2

134.4

1.3 %

Non-GAAP Adjusted Gross Margin(2)

57.7 %

61.0 %

-3.3p.p.

56.0 %

63.6 %

-7.6p.p.

Net Revenue Expansion (NRE)

110 %

102 %

8.0p.p.

110 %

102 %

8.0p.p.

Total Active Customers(3)

6,427

6,780

-5.2 %

6,427

6,780

-5.2 %

(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.

Our SaaS business Revenue went up 16% YoY in Q3 2024 to BRL 87.6 million from BRL 75.3 million in Q3 2023, primarily from small and medium sized customers. Year-to-date, the increase was similar, of 15%.

It is worth noting that new clients are now onboarded directly to the Zenvia Customer Cloud, enhancing value not only on channel options but also by leveraging SaaS solutions.

Q3 2024 Non-GAAP Adjusted Gross Profit was up 10% YoY to BRL 50.6 million from BRL 46.0 million, primarily driven by higher-margin SMBs. Despite this, Non-GAAP Adjusted Gross Margin from SaaS went down 3.3 percentage points to 57.7%, as we saw tighter margins from large enterprises amid continued fierce competitive market dynamics in this segment.

Year-to-date, while our Non-GAAP Adjusted Gross Profit went up 1.3%, our Non-GAAP Adjusted Gross Margin was down 7.6 percentage points, mainly from the same impact of large enterprises with lower margins coupled with the increased infrastructure costs related to the final integration phase of the acquired companies.

CPaaS Business

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

Q3 2024

Q3 2023

YoY

9M 2024

9M 2023

YTD

Revenues

196.8

143.3

37.4 %

485.1

379.2

27.9 %

Non-GAAP Adjusted Gross Profit(1)

51.9

37.8

37.2 %

160.1

125.1

28.0 %

Non-GAAP Adjusted Gross Margin(2)

26.4 %

26.4 %

–

33.0 %

33.0 %

–

Total Active Customers(3)

6,053

7,248

-16.5 %

6,053

7,248

-16.5 %

(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.

We recorded abnormally high volumes from large enterprise customers in the CPaaS business in this third quarter, in line with the trend we saw in Q2 2024. While we consider this to be temporary and do not expect it to continue into the fourth quarter, it was an opportunistic move to our top line.

The segment reported Net Revenues of BRL 196.8 million in Q3 2024, up 37% YoY, while Non-GAAP Adjusted Gross Profit increased at a similar rate to BRL 51.9 million from BRL 37.8 million in Q3 2023. Non-GAAP Adjusted Gross Margin was flat at 26.4%, when compared to Q3 2023.

Year-to-date, our CPaaS business reported Net Revenues of BRL 485.1 million, up 28% YTD, with our Non-GAAP Adjusted Gross Profit increasing at a similar rate, leading to a flat Non-GAAP Adjusted Gross Margin of 33.0%, when compared to the same period last year. 

Regarding Total Active Customers, as we mentioned in the last quarter, the YoY decrease was primarily due to the clean-up and removal held in Q2 2024 of smaller CPaaS clients who were not generating revenue. These moves reflect our focus on retaining customers that contribute with revenues and EBITDA generation, as attested by the more than 30% increase in both CPaaS top line and Non-GAAP Adjusted Gross Profit in this quarter. It is also worth noting the sequential increase in total CPaaS active customers  to 6,053 in Q3 2024 from 5,506 in Q2 2024, also leveraged by the primary onboarding of new SMB customers to Zenvia Customer Cloud.

Consolidated Financial Result Analysis

Revenue
In this quarter, consolidated revenues were positively impacted by both segments, but especially by CPaaS which recorded higher-than-expected volumes that were opportunistic for revenue and cash balance. This resulted in a higher share of CPaaS in the revenue mix, of 69.2% in Q3 2024 compared to 65.5% in Q3 2023.

These effects are reflected in the 37% increase in CPaaS Non-GAAP Adjusted Gross Profit, accompanied by a 10% increase in SaaS Non-GAAP Adjusted Gross Profit, which jointly brought the Consolidated Non-GAAP Adjusted Gross Profit up 22%.

Looking at our consolidated Non-GAAP Adjusted Gross Margin, it declined 2.3 percentage points year-over-year to 36.0% in Q3 2024 from 38.3% in Q3 2023. As we always explain, a higher CPaaS mix impacts margins, but this quarter we also saw lower margins from some enterprise customers in SaaS and the impact on cost of services from the increase in infrastructure costs tied to the final phase of acquired companies’ integration.

Nonetheless, Adjusted EBITDA in Q3 2024 was positive BRL 41.2 million, compared to BRL 15.7 million in Q3 2023. The combination of higher revenues, stricter expense control and operating efficiencies allowed our EBITDA to multiply by 2.6 times in the period, reaching the highest quarterly level of the last three years. Year-to-date, our G&A Expenses went down to BRL 95.2 million, or -3.4% YoY, which led the G&A as a percentage of revenues to 13.1%, a 3.6 percentage point decrease from the 16.7% reported in the same period of 2023. When compared to two years ago, right before we started our streamlining efforts, this decrease was of 5.4 percentage points, from 18.5%.

Normalized EBITDA, which excludes the earn-outs and non-recurring events, amounted to BRL 98.1 million in 9M 2024, which compares to BRL 39.0 million in the same period of 2023.  As a result, our LTM Normalized EBITDA reached BRL 135.2 million at the end of September 2024, putting us on track to meet our 2024 guidance.

Net Income in Q3 2024 amounted to BRL 52.4 million, an increase of BRL 64.3 million from Q3 2023. This includes a positive non-cash impact of BRL 43.8 million in Financial Income as a result of the mark-to-market of a derivative instrument related to the equity raise made by Cassio Bobsin in Q1 2024. Excluding this impact, we estimate Net Income would be positive at BRL 8.7 million, mostly due to the strong operating results.

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 Tuesday, November 19, 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 quarter and year-to-date 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 third quarter of 2024.

Income Statement

Q3

9M

2024

2023

Variation

2024

2023

Variation

(non-audited)

(restated)

(non-audited)

(restated)

(in thousands of R$)

( %)

(in thousands of R$)

( %)

Revenue

284,449

218,597

30.1 %

728,244

590,563

23.3 %

Cost of services

-194,639

-147,662

31.8 %

-470,042

-370,293

26.9 %

Gross profit

89,810

70,935

26.6 %

258,202

220,270

17.2 %

Selling and marketing expenses

-28,075

-29,252

-4.0 %

-81,435

-81,501

-0.1 %

General and administrative expenses

-30,602

-29,696

3.1 %

-95,165

-98,491

-3.4 %

Research and development expenses

-12,514

-14,898

-16.0 %

-41,381

-40,011

3.4 %

Allowance for expected credit losses

-4,559

-2,654

71.8 %

-11,454

-24,631

-53.5 %

Other income and expenses, net

3,812

-1,237

-408.2 %

-10,594

-1,773

497.5 %

Operating gain (loss)

17,872

-6,802

-362.7 %

18,173

-26,137

-169.5 %

Financial expenses

-32,649

-19,885

64.2 %

-137,782

-55,734

147.2 %

Finance income

62,962

8,520

639.0 %

70,434

15,132

365.5 %

Financial expenses, net

30,313

-11,365

-366.7 %

-67,348

-40,602

65.9 %

Income/Loss before taxes

48,185

-18,167

-365.2 %

-49,175

-66,739

-26.3 %

Deferred income tax and social contribution

7,335

7,323

0.2 %

37,429

26,962

38.8 %

Current income tax and social contribution

-3,071

-1,013

203.2 %

-7,998

-4,019

99.0 %

Income/Loss for the period

52,449

-11,857

-542.3 %

-19,744

-43,796

-54.9 %

Income/Loss attributable to Company Owners

52,621

-11,943

-540.6 %

-19,798

-44,008

-55.0 %

Non-controlling interests

172

-86

-300.0 %

-54

-212

-74.5 %

Balance Sheet

December 31, 2023

(audited)

September 30, 2024

(non-audited)

(in thousands of reais)

Assets

Current assets

250,331

342,601

Cash and cash equivalents

63,742

102,662

Trade and other receivables

148,784

195,882

Recoverable assets

28,058

29,585

Prepayments

5,571

5,755

Other assets

4,176

8,717

Non-current assets

1,461,233

1,503,868

Restricted cash

6,403

6,072

Prepayments

1,109

561

Other assets

10

10

Deferred tax assets

91,971

129,400

Property, plant and equipment

14,413

19,685

Intangible assets

1,347,327

1,323,744

Judicial deposits

–

24,396

Total assets

1,711,564

1,846,469

December 31, 2023

(audited)

September 30, 2024

(non-audited)

Liabilities

Current liabilities

607,374

691,498

Trade and other payables

353,998

437,435

Loans, borrowings and Debentures

36,191

69,855

Liabilities from acquisitions

134,466

100,994

Employee benefits

50,085

49,081

Tax liabilities

18,846

17,969

Lease liabilities

2,056

1,769

Deferred revenue

11,547

14,325

Taxes to be paid in installments

185

70

Non-current liabilities

215,243

269,142

Liabilities from acquisitions

160,237

179,750

Loans, borrowings

51,605

47,072

Provisions for tax, labor and civil risks

1,721

–

Lease liabilities

752

1,484

Employee Benefits

615

1,961

Derivative financial instruments

–

38,599

Taxes to be paid in installments

313

276

Equity

888,947

885,829

Capital

957,525

1,007,522

Reserves

247,464

215,762

Foreign currency translation reserve

3,129

1,446

Other components of equity

283

283

Accumulated losses

(319,591)

(339,389)

Non-controlling interests

137

205

Total equity and liabilities

1,711,564

1,846,469

Indebtness

Interest

December 31, 2023

(audited)

September 30, 2024

(non-audited)

(in thousands of R$)

Working capital

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

69,667

103,330

Debentures

18.16 %

18,129

13,597

Total

87,796

116,927

Cash Flow

Q3

9M

2024

(non-audited)

2023

(restated)

2024

(non-audited)

2023

(restated)

(in thousands of R$)

Net cash from (used in) operating activities

56,583

16,063

61,852

148,381

Net cash used in investing activities

-14,886

-15,632

-48,393

-33,070

Net cash from (used in) financing activities

-29,276

-28,283

25,517

-98,197

Exchange rate change on cash and cash equivalents

830

1,780

-56

-850

Net (decrease) increase in cash and cash equivalents

13,251

-26,072

38,920

16,264

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 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:

Q3

9M

Consolidated

2024

(non-audited)

2023

(non-audited)

2024

(non-audited)

2023

(non-audited)

(in thousands of R$)

Gross profit

89,810

70,935

258,202

220,270

(+) Amortization of intangible assets acquired from business combinations

12,653

12,850

38,092

39,211

Non-GAAP Adjusted Gross Profit(1)

102,463

83,785

296,294

259,481

Revenue

284,449

218,597

728,244

590,563

Gross Margin(2)

31.6 %

32.5 %

35.5 %

37.3 %

Non-GAAP Adjusted Gross Margin(3)

36.0 %

38.3 %

40.7 %

43.9 %

(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:

Q3

9M

SaaS Segment

2024

(non-audited)

2023

(non-audited)

2024

(non-audited)

2023

(non-audited)

(in thousands of R$)

Gross profit

37,904

33,105

98,082

95,166

(+) Amortization of intangible assets acquired from business combinations

12,653

12,850

38,092

39,211

Non-GAAP Adjusted Gross Profit(1)

50,557

45,955

136,174

134,377

Revenue

87,632

75,324

243,174

211,373

Gross Margin(2)

43.3 %

44.0 %

40.3 %

45.0 %

Non-GAAP Adjusted Gross Margin(3)

57.7 %

61.0 %

56.0 %

63.6 %

(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.

 

Q3

9M

CPaaS Segment

2024

(non-audited)

2023

(non-audited)

2024

(non-audited)

2023

(non-audited)

(in thousands of R$)

Gross profit

51,906

37,830

160,120

125,104

(+) Amortization of intangible assets acquired from business combinations

0

0

0

0

Non-GAAP Adjusted Gross Profit(1)

51,906

37,830

160,120

125,104

Revenue

196,817

143,273

485,070

379,190

Gross Margin(2)

26.4 %

26.4 %

33.0 %

33.0 %

Non-GAAP Adjusted Gross Margin(3)

26.4 %

26.4 %

33.0 %

33.0 %

(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:

Q3

9M

2024

(non-audited)

2023

(non-audited)

2024

(non-audited)

2023

(non-audited)

(in thousands of R$)

Income/Loss for the period

52,449

-11,857

-19,744

-43,796

Current and Deferred Income Tax

-4,264

-6,310

-29,431

-22,943

Financial expenses, net

-30,313

11,365

67,348

40,602

Depreciation and Amortization

23,288

22,468

69,667

64,536

Adjusted EBITDA(1)

41,160

15,666

87,840

38,399

Earn-outs

-84

-631

– 10,245

– 631

Normalized EBITDA(2)

41,244

16,297

98,085

39,030

(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-recurring events and non-cash impacts from earn-out adjustments.

View original content:https://www.prnewswire.com/news-releases/zenvia-reports-q3-2024-and-9m-2024-results-302309184.html

SOURCE Zenvia

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Technology

Dream11 Launches ‘Guru Home’ to Empower 50,000 Creators by 2028; Boosts India’s Online Sports Engagement

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November 19, 2024

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The first-of-its-kind feature connects users to experts for team formulation insights and strategy

MUMBAI, India, Nov. 19, 2024 /PRNewswire/ — Dream11, the world’s largest fantasy sports platform with over 220 million users, today announced the launch of Guru Home, the first-of-its-kind feature focussed on providing users with insights on team formulation strategies from seasoned ‘Gurus’ across a range of sports. In support of India’s creator economy, particularly in Tier III and IV cities, Dream11 aims to on-board over 50,000 creators by 2028, with a focus on building communities with deep sports expertise and fueling fan engagement.

This feature not only provides authentic content and insights to improve team formulation strategies but also offers Gurus a valuable platform to showcase their expertise and build a sustainable source of income. At the same time, it will give sports fans unprecedented access to verified experts thereby reinforcing user trust, safety, and transparency.

Rahul Mirchandani, Chief Product Officer at Dream Sports, commented, “At Dream11, our user-first approach drives innovation and we’re excited to launch Guru Home in response to the growing demand for formalizing the creator economy in sports to enhance fan engagement. With India rapidly emerging as a global leader in the creator economy, this initiative not only enriches the fantasy sports experience but also empowers creators, providing them with economic opportunities. Guided by our vision to Make Sports Better, we’re committed to fostering a culture of passion and learning in sports.”

Leveraging best-in-class technology, Dream11 has designed Guru Home as a seamless, personalised, and dynamic hub for sports experts to share their knowledge. The feature is now live and available to all users on the Dream11 app.

About Dream11:

Dream11 is the world’s largest fantasy sports platform with over 220 million users playing fantasy cricket, football, kabaddi, basketball, hockey, volleyball, handball, rugby, futsal, American football & baseball, on it. Dream11 is the flagship brand of Dream Sports, India’s leading Sports Technology company and has partnerships with several national & international sports bodies and cricketers. For more information: www.dream11.com

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Global Times: Interdisciplinary technologies bring more cultural relics to life

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1 hour ago

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November 19, 2024

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BEIJING, Nov. 18, 2024 /PRNewswire/ — In a fully equipped laboratory in Beijing, a dragon-head architectural component from the Tang Dynasty (618-907) discovered at the Guzhou ruins in Xiong’an New Area, North China’s Hebei Province is prepped for a CT scan.

Thanks to the use of CT scans, 3D modeling, and other high-tech facilities in this laboratory, the restoration and research of the dragon head is progressing smoothly. The Key Laboratory of Archaeological Sciences and Cultural Heritage at the Chinese Academy of Social Sciences (CASS) is promoting the revitalization of more cultural relics with the help of technology, and has become a new example of cutting-edge technology used in archaeological work.

In recent years, China has intensified efforts to integrate technology into archaeology. Remote sensing satellites have been used to accurately document the shapes of excavation sites, 3D imaging can reconstruct collapsed underground spaces, and 3D digital modeling is now used to ­reverse-engineer and replicate decayed wooden boxes. Advances in deep-sea technology have expanded China’s underwater archaeology from depths of 50 meters to 2,000 meters.

These interdisciplinary collaborations are uncovering the limitless potential of archaeological science and continually enhancing China’s ability to protect cultural heritage.

“Technology and archaeology have always been areas of interdisciplinary integration and collaboration. Over the last century, the development of archaeology, from its traditional roots to the present, has been closely intertwined with technological advancements,” Chen Jiachang from the China Academy of Cultural Heritage told the Global Times.

“From the early integration of geology and archaeology to the modern-day application of advanced technologies, these innovations have increasingly aided archaeologists in analyzing remnants of ancient societies, reconstructing their structures, and understanding their social forms,” Chen said.

Technological power

The new laboratory consists of 13 sub-laboratories for archaeological sciences, five for cultural heritage conservation, and five joint archaeological laboratories. It integrates advanced technologies from disciplines including molecular biology, chemistry, geosciences and physics to facilitate interdisciplinary and inter-institutional research in archaeological science and heritage conservation.

Following laboratory analysis and preliminary cleaning of the dragon head’s eyes and nose, large areas of paint were found on the gray ceramic surface. The dragon’s pupils are black, while the eyeliner around them is green.

Liu Yong, head of the Key Laboratory of Archaeological Sciences and Cultural Heritage, recalled to the Global Times that “the top part of the dragon head is missing, and cracks can be seen in its nose and eyebrows, preventing any movement of the artifact.”

So further discovery of the dragon’s pupil and eyeliner colors can’t bear any more movement on the artifact.

One key reason has influenced the team’s decision to use curved-surface fluorescence technology to create a 3D model of the painted artifact. Fluorescence, with its penetrating properties, interacts with different elements to reveal colors hidden beneath layers of soil. “Normally, the green color shines from malachite, while the white ears are calcium carbonate, but we can only figure it out after the fluorescence test.”

“Because it couldn’t be moved, we used soil packing to stabilize it and employed CT scanning to examine whether the dragon head was solid or hollow,” Liu explained. “CT technology is primarily used on artifacts for pre-detection. It helps assess the preservation status and internal structure and provides information for protective cleaning.”

The development of portable CT technology has also transitioned such equipment from fixed to mobile, allowing for better balancing of artifact protection and research. “The goal is to maximize archaeological information while protecting the artifact,” Liu said.

Increasingly, not just field archaeologists but also physicists, geologists, and experts from various other fields are becoming involved in this emerging field of archaeological science.

Wider applications

From aerial and drone remote sensing to satellite remote sensing, these increasingly advanced technologies provide a broader distribution of data about archaeological sites, enabling more comprehensive hypotheses about historical scenarios.

“In the past, we used radar. Satellite remote sensing offers higher density points, forming more detailed surface information,” Chen said. “Now the application of technology helps archaeologists clarify ancient societal remains.”

Chen explained that technologies such as residue DNA analysis and isotope analysis, combined with archaeological interpretations of historical records and research, create a chain of factual evidence for the reconstruction of ancient societies. “It’s a collaboration across disciplines – unifying science and archaeology.”

However, even with advancements in technology and conservation, challenges remain. Natural weathering continues to pose problems for artifacts like the Yungang Grottoes and the Leshan Giant Buddha.

The conservation of stone grotto artifacts faces three main challenges: structural reinforcement, water infiltration prevention, and weathering resistance. While grouting and other techniques can address the first two problems through innovative approaches tailored to the artifact, combating weathering – considered a global challenge – requires breakthroughs in material research.

“Just as chip manufacturing needs new material development, creating advanced infiltration reinforcement materials is key to preserving grottoes,” Chen said.

There are more advanced technologies playing necessary roles in China’s significant archeological projects beyond the conservation of stone grottoes. For instance, in the conservation of Sanxingdui artifacts, the application of ivory analysis revealed similarities in structure and materials to those of stone grottoes. This fusion of technology and archaeology has allowed Sanxingdui artifacts to gain renewed life.

Ultimately, the goal of technology in archaeology is to reconstruct the framework of ancient societies, revealing the structures and dynamics of human life within their historical contexts. “Archaeology and technology complement each other, creating a synergistic effect,” Chen concluded.

View original content:https://www.prnewswire.com/news-releases/global-times-interdisciplinary-technologies-bring-more-cultural-relics-to-life-302309382.html

SOURCE Global Times

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Technology

Grand Opening of The 2nd China Marine Equipment Expo on November 15th

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1 hour ago

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November 19, 2024

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FUZHOU, China, Nov. 18, 2024 /PRNewswire/ — On November 15th, the highly anticipated exhibition of the marine equipment industry, the 2nd China Marine Equipment Expo (CMEE) began its opening ceremony in the city of Fuzhou, Fujian, at the Fuzhou Strait International Conference and Exhibition Center.

This year’s CMEE spans 100,000 square meters. The indoor exhibition area, covering 80,000 square meters, is located in Halls 1-8 of the Fuzhou Strait International Conference and Exhibition Center, featuring 15 major exhibition sections. The yacht exhibition, covering 20,000 square meters, is located at the Guancheng Datong Marina, adjacent to the exhibition center. Focusing on “Green Intelligence, New Quality Future,” the exhibition invited Norway as the first Honourable Guest Country, and attracted nearly 800 renowned marine-related enterprises, universities, and research institutions. Alongside numerous long-standing partners, including China State Shipbuilding Corporation (CSSC), China Three Gorges Corporation, DongFang Electric Corporation, Nanjing Iron and Steel, Beijing New Building Materials, Hudong-Zhonghua Shipbuilding, Fujian Shipbuilding, Ningde Future, Shenhao Technology, China Classification Society, American Bureau of Shipping, Registro Italiano Navale, Harbin Engineering University, Northwestern Polytechnical University, Shanghai Jiao Tong University, and the Chinese Academy of Sciences, new partners, including Shell, Wärtsilä, Accelleron, Kongsberg, Burckhardt, PetroChina, China National Nuclear Corporation, China General Nuclear Power Group, CRRC, Huadian Heavy Industries, CATL, BYD, Xuzhou Construction Machinery Group, Yuchai Cynland Hyentech, ChinaLCO, and Boya Gongdao Robot Technology, also joined, offering a multi-level, multi-dimensional, and multi-sectoral view of the marine equipment industry’s robust growth.

Over 7,000 products are on display, including notable innovations such as CSSC’s first domestically-built large cruise ship, the “Aida Modu”, Burckhardt’s LNG-BOG compressor 2KM90MG, China Classification Society’s Ship Clean Energy Comprehensive Assessment System, Ningde Future’s 7.5-meter polyethylene methanol ship, Supcon’s integrated solution for “Automatic Control + Autonomous Ships + Ship-Shore IT Integration + Maritime Cybersecurity,” Shell’s Alexia 40XC high-performance cylinder lubricant, and BYD’s marine power supply. These state-of-the-art marine technologies and equipment represent the latest advancements in the marine equipment industry worldwide.

Over 30 professional forums, meetings, and science outreach activities will be held, including 16 forums, 10 procurement matchmaking meetings, promotion and unveiling ceremonies, 5 interactive science outreach activities, and 7 livestreams. Over 200 industry leaders and professionals in marine economy, and officials from leading companies gave key speeches exploring cutting-edge technology in the marine field, creating a platform for professionals to discuss challenges and opportunities.

The 2024 China Shipbuilding Industry Annual Conference, jointly organized by the China Association of the National Shipbuilding Industry and 714th Research Institute of CSSC, will be held from November 15-18, featuring a main forum, the Shipbuilding Industry 50 Forum, and 12 specialized forums. Topics include sustainable development in the shipbuilding industry (ESG), maritime cybersecurity, smart ocean industry development, marine green materials, energy management in shipbuilding, and new technologies and materials for ship coating and welding. The conference will cover policy interpretation, industry development, and technology trends, providing fresh insights, experiences, and ideas to drive development in the shipbuilding and marine engineering equipment sectors. The release of the “Blue Book of the Development of the Shipbuilding Industry” and the “China Shipbuilding Industry Intellectual Property Development Report” will also be featured during the conference.

This year, CMEE has received the full support of the 714th Research Institute, further emphasizing international exchanges and cooperation, deepening “Blue Partnerships,” focusing on highlighting advanced technologies in the marine equipment sector, facilitating the commercialization of achievements and industrial penetration, placing greater importance on marine culture, fostering a cohesive drive for building a central marine city.

Setting CMEE apart from other marine exhibitions, is the establishment of a 20,000-square-meter outdoor exhibition area that includes an immersive yacht experience combining science outreach activities, interactions, and hands-on activities, the standout feature of CMEE.

View original content:https://www.prnewswire.com/apac/news-releases/grand-opening-of-the-2nd-china-marine-equipment-expo-on-november-15th-302309392.html

SOURCE China Marine Equipment Expo

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