Technology
ZENVIA Reports Q3 2024 and 9M 2024 Results
Published
2 years agoon
By
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
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
How Can Humanity Become Friends with the Ocean?
Published
9 minutes agoon
November 6, 2026By
BEIJING, Nov. 6, 2026 /PRNewswire/ — A news report from China.org.cn on China’s efforts in marine ecological governance:
“Look, white dolphins!” Such excited cries can often be heard along the coast of Xiamen, a city in east China’s Fujian Province.
The Indo-Pacific humpback dolphin, commonly known as the Chinese white dolphin, is considered Class I nationally protected wildlife in China. As apex predators in coastal waters, these dolphins are regarded as a barometer of marine ecosystem health. Back in the 1990s, however, rising shipping activity, coastal reclamation and near‑shore development severely encroached on their habitats.
To minimize disturbances to dolphin habitats, Xiamen established China’s first provincial‑level nature reserve dedicated to Chinese white dolphins in 1997. Since then, the city has continuously refined its coastal governance approaches, restricted activities with significant environmental impacts, and promoted cross‑regional collaboration in conservation. Many other ocean‑friendly initiatives have also been rolled out. These include restoring mangrove wetland ecosystems; implementing an “offshore sanitation” mechanism and organizing public beach‑clean‑up campaigns to regularly remove floating marine debris; and releasing nearly 8 billion aquatic animals across 18 species through stock enhancement programs. As a result, populations of several fish species, such as the wild large yellow croaker and yellowfin seabream, have returned to Xiamen Bay.
Recently, “AI bodyguards” have joined the conservation effort. High‑definition cameras, drones and intelligent recognition systems track dolphin activity round‑the‑clock. Automatic alerts are issued whenever vessels approach the dolphins in violation of regulations. Researchers have also created individual digital profiles for each dolphin, identifying them by their dorsal‑fin shapes and body spot patterns, while recording their movement trajectories.
Xiamen is a microcosm of China’s efforts in marine ecological governance — forging ahead boldly yet never walking alone.
Over the decades, China has taken a series of concrete steps: from founding its first marine nature reserve in 1963, to proposing the goal of “building a strong maritime nation,” and publishing the white paper “Marine Eco‑Environmental Protection in China”; from drawing marine ecological protection red lines, to actively engaging with the UN Decade of Ocean Science for Sustainable Development and signing major international agreements on marine conservation, including the UN Agreement on Biodiversity Beyond National Jurisdiction (UN BBNJ).
For decades, China has been answering a vital question through concrete action: how can humanity coexist harmoniously with the ocean and create mutual benefits?
The answer is becoming increasingly clearer. Today, China’s extensive coastline features clean waters and pristine beaches, with fish swimming freely and seabirds soaring overhead. Not long ago, China’s Blue Bay Restoration Initiative was named a UN World Restoration Flagship. Now, the 21st Xiamen World Ocean Week is officially inaugurated, bringing together experts, scholars and representatives from various countries and international organizations to discuss marine conservation and harmonious coexistence between humanity and the ocean. In marine ecological protection and governance, China is not only a proactive participant and practitioner, but also a contributor to sharing experience and shaping future approaches.
Along Xiamen’s shoreline, the sea breeze blows gently as children run after the waves, echoing the ongoing story of humanity and the ocean.
China Mosaic
http://www.china.org.cn/video/node_7230027.htm
View original content to download multimedia:https://www.prnewswire.com/news-releases/how-can-humanity-become-friends-with-the-ocean-302932059.html
SOURCE China.org.cn
Technology
OneStream Surpasses 600 EMEA Customers and Triples AI Adoption
Published
9 minutes agoon
November 6, 2026By
OneStream triples AI customer base and deepens investment across EMEA as Founder and CEO Tom Shea presents governed Finance AI framework at Web Summit
LISBON, Portugal, Nov. 6, 2026 /PRNewswire/ — OneStream, the AI operating system for modern Finance that unifies core financial and operational processes, embedding the governance, context, and control required to make AI work for Finance, today announced it has surpassed 600 customers in EMEA and more than tripled its Finance AI customers in the region since the end of 2025. The news comes as Founder and CEO Tom Shea takes the stage at Europe’s biggest tech event, Web Summit 2026, to detail a framework for auditable, contextualized AI for Finance.
“CFOs across Europe are realizing the real advantage of AI isn’t the smartest model – it’s AI operating within a strict framework of financial governance,” said Tom Shea, Founder and CEO at OneStream. “AI is the reasoning engine, but enterprise software must be the trust engine. Our acceleration in EMEA proves leaders want a financial control tower that delivers answers they can act on without operational risk. We will continue investing heavily in the local teams and partners helping them build this secure foundation.”
Accelerating EMEA Momentum
Over the past 12 months, OneStream helped more than 100 new EMEA customers modernize their tech stack and passed 600 customers in the region, with customers in more than 35 markets. Customers span industries including manufacturing, retail, banking and financial services, pharmaceuticals, and oil and gas. Notable EMEA customers include Grupo ACS, Delivery Hero, and Swatch.
Customers across the region are using OneStream to modernize core Finance processes, replacing fragmented legacy systems with a unified platform for financial close, consolidation, reporting, and planning. This unified foundation helps teams keep pace with complex regulatory requirements across EMEA, while providing the governed data necessary to leverage AI for accelerated insights and real business value.
OneStream’s Finance AI adoption is growing alongside its broader platform growth. The number of EMEA customers using OneStream’s Finance AI has more than tripled since the end of 2025.
To support this sustained regional acceleration, OneStream continues to scale its operations and partner ecosystem, building on its established regional presence across London, Manchester, Paris, Amsterdam, and Madrid.
“Finance leaders across EMEA are modernizing their core Finance platforms to keep pace with complex regulation and move faster,” said Matt Rodgers, EVP, EMEA at OneStream. “That modernization is what enables them to take AI from pilots to enterprise-wide deployment, because it gives them a data foundation they can actually trust. Our momentum in the region underscores a fundamental shift toward governed, unified enterprise platforms that deliver real business value.”
Building Trust in AI Agents
Shea will appear in a featured fireside chat titled “Why AI and SaaS Need Each Other” on Thursday, Nov. 12, at 1:25 PM on Stage 7. Moderated by Hope King, Founder of Macro Talk, and featuring Luminance CEO Eleanor Lightbody, the session will examine the evolving role of enterprise software as AI agents take on increasingly complex workflows. Shea will detail how governed data, strict access controls, and transparent audit trails determine how safely organizations can let autonomous agents act on their own.
To learn more about Shea’s session at Web Summit, click here.
About OneStream
OneStream is the AI operating system for modern Finance that unifies core financial close, planning, and operational processes and data, in one intelligent platform, all embedded with the governance, context, and control required to make AI work for Finance.
With over 1,900 customers, including 16% of the Fortune 500, a strong ecosystem of go-to-market, implementation, and development partners and 1,600 employees, we empower the Office of the CFO to become a critical driver of business strategy and execution. To learn more, visit onestream.com.
Media Contact
Jaclyn Proctor
Media Relations Contact
OneStream
media@onestreamsoftware.com
View original content to download multimedia:https://www.prnewswire.com/news-releases/onestream-surpasses-600-emea-customers-and-triples-ai-adoption-302931403.html
SOURCE OneStream, Inc.
Technology
Insilico Open-Sources 24/7 Personal Longevity Superintelligence to Turn Quantified-Self Data into Predictive Health States and Aging Research
Published
9 minutes agoon
November 6, 2026By
CAMBRIDGE, Mass., Nov. 6, 2026 /PRNewswire/ — Insilico Medicine, a clinical-stage generative AI drug discovery company, today announced the open-source release of Longevity Grok, the Personal Longevity Superintelligence (PLSI) and launched the website longevitygrok.si, in collaboration with leading geroscience researcher David Sinclair from Harvard Medical School. Developed for the Grok Bot platform, PLSI is an open-source, multi-agent AI system designed to unify fragmented personal health records, track biological analysis, formulate personalized lifestyle interventions, predict and score post-intervention biomarker changes, as well as drive communal AI-powered geroscience research.
For decades, health management and longevity medicine have been hampered by severe data fragmentation. Laboratory blood panels, continuous glucose monitoring, wearable streams, epigenetic assays, and clinical records sit across disconnected portals, leaving patients unable to follow their biological trajectory and clinicians working from incomplete histories. Modern healthcare turns to LLMs to close that gap, however, without persistent, auditable memory or follow-up on if advice actually improves outcomes, they rarely outperform traditional methods.
Personal Longevity Superintelligence (PLSI) addresses this gap with a continuous, 24/7 automated research loop. It converts fragmented medical data into a standardized longitudinal health trajectory and generates accountable, predictive guidance through a multi-agent architecture. The system continuously forecasts health risks, proposes interventions, and scores outcomes through closed-loop feedback.
Running within Grok Bot’s secure environment, it coordinates a team of up to 30 specialized AI agents, standardizes heterogeneous records with clinical coding systems such as LOINC, RxNorm, and UCUM, and uses always-on routines to monitor longevity science updates, organize incoming data, and keep the personal health state current without constant re-prompting. The same system is framed for three complementary roles:
As a personal longevity assistant, PLSI turns scattered labs, wearables, epigenetic assays, and clinical files into a unified, audit-ready health trajectory on the user’s device. It proposes lifestyle, nutritional, or longevity interventions with an auditable “prediction card” (target biomarker, confidence interval, time horizon, and evidence grade), evaluates each plan through an agent-driven adversarial review. When follow-up results arrive, PLSI scores whether outcomes fall within the predicted interval, confirms direction, and tracks calibration over time, turning each choice into a checkable N-of-1 experiment. Users can also voluntarily allocate unused daily token quota to Idle Research in the background to find new ways to increase their lifespan.
As a physician’s assistant, PLSI supplies structured longitudinal context instead of fragmented PDFs and portal exports. Standardized representations and a coherent biological trajectory help clinicians better organize their workflow Prediction cards and evidence grades aid in decision-making, while closed-loop scoring after follow-up supports auditable discussion of response and adherence. PLSI also features safeguards that overrule AI discretion to keep formal diagnosis and prescriptions solely with licensed physicians.
As a partner for aging research, PLSI extends individual tracking into communal discovery. Users may opt in to contribute consented, deidentified trajectories to Longevity Mothership via an anonymous relay with an irrevocable kill switch to purge records on demand. Idle Research is a modern take on volunteer computing platforms , such as Folding@home, which let autonomous researcher agents scan literature, formulate hypotheses, and design analyses based on public databases to accelerate target discovery and other anti-aging discovery activities.
Across all three roles, privacy is the default: a zero-trust architecture keeps raw medical files and identifiable clinical records in the user’s environment , unless the user explicitly opts into communal research. Both the PLSI Client and the Longevity Mothership backends are fully open-source and freely available on GitHub for review and contribution. Both setups feature data controller agents, which scrub the data at egress and intake points to prevent entry re-identification.
PLSI is available to all Grok Bot users and can be installed by instructing your bot with the following one-liner:
Set yourself up using https://github.com/Insilico-org/plsi
The agentic skills and code are provided as an open-source package which can be inspected and modified by all, according to their needs.
“Longevity Grok turns Grok Bot into an open platform where individuals, physicians, and scientists can use AI to better understand their health, predict the effects of interventions, and find ways to live longer, healthier lives,” said David A. Sinclair, Ph.D., Professor of Genetics and Co-Director of the Paul F. Glenn Center for Biology of Aging Research at Harvard Medical School. “What makes this exciting is that people can contribute to scientific discovery while improving their own health, helping us understand why we age and how we might slow or even reverse it.”
“Currently, there are zero tools that are clinically proven to give a healthy person an additional year of life if they are already dieting, exercising, sleeping, and getting regular diagnostics,” said Alex Zhavoronkov, Ph.D., founder and CEO of Insilico Medicine. “Longevity Grok is a distributed system designed around a personal research space where you can work with your own data to optimize your health, longevity, and peak-span trajectories. As this system diffuses into the community, we expect to achieve longevity superintelligence, enabling a vast network of individuals to conduct autonomous research on their own biology while utilizing shared computation resources to pursue advanced longevity experiments. Aging is the only inescapable constraint on human freedom, and pushing this frontier is about giving people the optionality to remain young, healthy, and productive for as long as possible.”
Longevity has been central to Insilico’s mission since its inception. The company’s path drew industry attention in 2015 at the NVIDIA GTC conference, where Alex Zhavoronkov, Ph.D., founder and CEO of Insilico, challenged the tech world with a provocative question: “Can NVIDIA cure aging?” In 2014, Insilico established the annual Aging Research and Drug Discovery (ARDD) meeting, now widely regarded as a leading academic gathering for geroscience and biogerontology. The 13th ARDD, held at Harvard University in 2026, brought together leading academic investigators, pharmaceutical executives, and clinical pioneers to translate longevity discoveries into actionable medicine.
In 2026, Insilico accelerated the translation of AI-driven longevity research from experimental theory to transformative biological interventions. In April, the company announced the industry’s first longevity board of high-profile scientists, chaired by Andrew Adams, Ph.D., Group Vice President of Molecular Discovery at Eli Lilly and Company, to advance AI-driven aging research for drug discovery. In September, Insilico open-sourced an AI longevity toolkit, including LongevityBench, Longevity-LLMs, and LongevityClaw, with collaborators in a Cell cover study, accelerating research and therapeutic development. That publication follows Insilico’s contemporaneous Nature Biotechnology paper, in which Rentosertib, the company’s most advanced AI-driven pipeline candidate, showed biological age reversal according to Phase IIa clinical data across six independent proteomic aging clocks.
Since 2014, Insilico has published more than 50 research papers on aging and longevity, aging biomarkers, therapeutic targets, and therapeutics implicated in aging, longevity, and disease.
About Insilico Medicine
Insilico Medicine is a pioneering global biotechnology company dedicated to integrating artificial intelligence and automation technologies to accelerate drug discovery, drive innovation in the life sciences, and extend healthy longevity to people on the planet. The company was listed on the Main Board of the Hong Kong Stock Exchange on December 30, 2025, under the stock code 03696.HK.
By integrating AI and automation technologies and deep in-house drug discovery capabilities, Insilico is delivering innovative drug solutions for unmet needs including fibrosis, oncology, immunology, pain, and obesity and metabolic disorders. Additionally, Insilico extends the reach of Pharma. AI across diverse industries, such as advanced materials, agriculture, nutritional products and veterinary medicine.
For more information, please visit www.insilico.com
View original content:https://www.prnewswire.com/news-releases/insilico-open-sources-247-personal-longevity-superintelligence-to-turn-quantified-self-data-into-predictive-health-states-and-aging-research-302931941.html
SOURCE Insilico Medicine
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