Normalized EBITDA of BRL 23.5 million
Strict cost control led G&A as % of
revenues to 14.7% in Q1 24 from 17.6% in Q1 23
SÃO PAULO, July 15,
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 first quarter of
2024.
Cassio Bobsin, Founder &
CEO of ZENVIA, said: "The highlight of this first quarter of
2024 was the soft launch of Zenvia Customer Cloud for select
clients. This platform represents the future of our CX SaaS
solutions and fulfills the plan outlined three years ago, in our
IPO. Zenvia Customer Cloud is a unified multichannel solution
that empowers B2C companies to sell more and serve better with full
automation, integration and communication across the customer
journey. With this solution fully deployed, we will be ready to
unlock solid and profitable growth while gaining actionable
insights about our customers with AI-enabled automation, boosting
productivity for the whole journey."
Shay Chor, CFO & IRO of
ZENVIA, said: "Our first quarter 2024 results came in line with
our expectations, with a combination of revenue growth and strict
expense control that resulted in an EBITDA of BRL 23.5 million, allowing us to reaffirm our
BRL 120 million to BRL 140 million guidance for 2024. Following our
recent capital raise and debt refinance, which brought us closer to
achieving an optimal capital structure to support our strategic
objectives while maximizing shareholder value, we are now planning
to finalize integrations, deliver growth and keep deleveraging the
business. We appreciate your continued trust and support as we move
ahead, committed to building a profitable and exciting future for
Zenvia."
|
Key Financial
Metrics (BRL MM and %)
|
Q1
2024
|
Q1
2023
|
YoY
|
|
Total Active
Customers(1)
|
13,257
|
13,292
|
-0.3 %
|
|
Revenues
|
212.6
|
179.0
|
18.8 %
|
|
Gross
Profit
|
80.9
|
78.9
|
2.4 %
|
|
Gross
Margin
|
38.0 %
|
44.1 %
|
-6.1p.p.
|
|
Non-GAAP Adjusted
Gross Profit(2)
|
93.6
|
92.5
|
1.3 %
|
|
Non-GAAP Adjusted
Gross Margin(3)
|
44.0 %
|
51.6 %
|
-7.6p.p.
|
|
Operating Loss
(EBIT)
|
-9.4
|
-12.3
|
-23.9 %
|
|
Adjusted
EBITDA(4)
|
13.4
|
7.8
|
71.6 %
|
|
Normalized
EBITDA(5)
|
23.5
|
7.8
|
200.2 %
|
|
Loss for the
Period
|
(55.9)
|
(16.8)
|
n.m.
|
|
Cash
Balance
|
71.5
|
159.0
|
-55.0 %
|
|
Net cash flow from
(used in) operating activities
|
(12.9)
|
99.6
|
n.m.
|
|
(1)
|
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.
|
|
(2)
|
For a reconciliation of
our Non-GAAP Gross Profit to Gross Profit, see Selected Financial
Data section below.
|
|
(3)
|
We calculate Non-GAAP
Gross Margin as Non-GAAP Gross Profit divided by
revenue.
|
|
(4)
|
For a reconciliation of
our Adjusted EBITDA to Loss for the Period, see Selected Financial
Data section below.
|
|
(5)
|
For a reconciliation of
our Normalized EBITDA to Loss for the Period, see Selected
Financial Data section below.
|
Highlights Q1 2024
- Revenues totaled BRL 212.6
million, up 18.8% when compared to BRL 179.0 million in Q1 2023 as a result of both
SaaS (+12% YoY) and CPaaS (+23%) expansion. CPaaS expanded SMS
volumes mainly with large enterprises, while SaaS saw growth from
both SMBs and large enterprises, with a stronger participation from
the latter.
- Non-GAAP Adjusted Gross Profit of BRL
93.6 million was up 1.3% YoY while Non-GAAP Adjusted Gross
Margin was down 7.6 percentage points to the expected level of
44.0% YoY as highlighted in our guidance for 2024. This decrease is
due to:
- (i) Higher mix of CPaaS in the period, mainly from large
enterprises with lower margins; and
- (ii) Lower SaaS margins, which also grew in large enterprises
with lower margins, combined with an increase in infrastructure
costs related to the final phase of integration of acquired
companies.
- Total number of active customers remained unchanged at
13.3k, being 7.1k from SaaS and 6.5k from CPaaS.
- Normalized EBITDA was positive BRL 23.5
million in the quarter, up 200.2% from Q1 2023, benefited by
higher revenues and expense control.
- On March 11, 2024, we soft
launched Zenvia Customer Cloud for select clients. The platform
will be rolled out to the whole client base throughout the year.
Zenvia Customer Cloud is a unified, multichannel solution that
centralizes and stores customer data, facilitating management,
communication, and relationship building with end consumers,
enabling companies to manage and provide personalized, engaging,
and seamless experiences across the customer journey.
Subsequent Events
- By the end of April 2024, Zenvia
raised R$ 40 million in additional
funding with local Brazilian banks, following the liabilities
management announced in February.
- On May 2, 2024, Zenvia announced
the hiring of Mr. Gilsinei (Gil)
Hansen for the newly-created role of Chief Revenue Officer
(CRO), reporting to Cassio Bobsin.
The new role was created to consolidate the current segments into
one single Business area which will be responsible for the entire
customer journey. The new area will be organized by customer
profile/segment instead of by solution/product, with a focus on
strengthening the Company's integrated offering, improving
experiences for all customers, and driving profitable growth. Mr.
Hansen will also oversee two important growth initiatives: the
rollout of Zenvia Customer Cloud and the Company's international
expansion.
- On June 20, 2024, Zenvia launched
its Generative AI Chatbot. A game-changing solution that
revolutionizes 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.
SaaS Business
|
SaaS Key Operational
& Financial Metrics (BRL MM and %)
|
Q1
2024
|
Q1
2023
|
YoY
|
|
Revenues
|
76.8
|
68.6
|
12.0 %
|
|
Gross Profit
|
30.6
|
32.9
|
-7.1 %
|
|
Gross Margin
|
39.8 %
|
48.0 %
|
-8.2p.p.
|
|
Non-GAAP Adjusted Gross
Profit (1)
|
43.4
|
46.4
|
-6.6 %
|
|
Non-GAAP Adjusted Gross
Margin(2)
|
56.4 %
|
67.7 %
|
-11.3p.p.
|
|
Total Active
Customers(3)
|
7,139
|
6,446
|
10.8 %
|
|
(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 Q1 2024, our SaaS business Revenue went up 12.1% YoY to
BRL 76.8 million, compared to
BRL 68.6 million in Q1 2023. The
client base increased by 11%. SaaS saw growth from both SMBs and
large enterprises, with a stronger participation from the
latter.
As a result, Q1 2024 Non-GAAP Adjusted Gross Profit was down
6.6% YoY to BRL 43.4 million from
BRL 46.4 million. The increase in
revenues mainly from large enterprises that carry lower margins,
coupled with an increase in infrastructure costs related to the
final phase of integration of the acquired companies, and our
expansion plans, resulted in lower Non-GAAP Adjusted Gross Margin
from SaaS, down 11.3 percentage points YoY to 56.4%, reaching our
expected target margin for SaaS for the period.
CPaaS Business
|
CPaaS Key
Operational & Financial Metrics (BRL MM and %)
|
Q1
2024
|
Q1
2023
|
YoY
|
|
Revenues
|
135.8
|
110.5
|
23.0 %
|
|
Non-GAAP Adjusted Gross
Profit (1)
|
50.3
|
46.0
|
9.3 %
|
|
Non-GAAP Adjusted Gross
Margin(2)
|
37.0 %
|
41.7 %
|
-4.7p.p.
|
|
Total Active
Customers(3)
|
6,458
|
7,358
|
-12.2 %
|
|
(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 135.8 million in Q1 2024, up 23.0% YoY, while
Non-GAAP Gross Profit increased 9.3% YoY to BRL 50.3 million from BRL
46.0 million. Non-GAAP Gross Margin reached 37.0% to our
expected target margins, compared to 41.7% mainly due to the higher
concentration of large enterprises in the revenue mix. We were able
to maintain the SMS volumes recovered from certain large clients in
H2 2023.
Consolidated Financial Results
Revenue
Consolidated revenues in Q1 2024 totaled
BRL 212.6 million, up 18.8% YoY,
mainly reflecting the 23.0% increase in CPaaS and 12.0% in
SaaS.
Profitability
Our Non-GAAP Adjusted Gross Profit
increased 1.3% YoY in Q1 2024 to BRL 93.6
million, mainly reflecting the 9.3% increase in CPaaS
Non-GAAP Adjusted Gross Profit, which has lower margins than SaaS,
and which was offset by the decrease in SaaS Non-GAAP Adjusted
Gross Profit. Non-GAAP Adjusted Gross Margin went down by 7.6 p.p.
to 44.0% in Q1 2024 from 51.6% in Q1 2023, reflecting the higher
CPaaS participation in the revenue mix, from 61.7% in Q1 2023 to
63.9% in Q1 2024 and the lower margins in SaaS, as it expanded more
with large enterprise customers. The 44.0% margin level is within
our guidance range for 2024.
Adjusted EBITDA in Q1 2024 was positive BRL 13.4 million, compared to BRL 7.8 million in Q1 2023. The 71.6% increase is
mainly due to higher revenues and stricter expense control.
Additionally, our Adjusted EBITDA included earn-out expenses of
R$10.1 million, related to the last
renegotiations of earn-out payments, without cash impact for Q1
2024. Our Normalized EBITDA, which excludes the earn-out expenses
impact, totaled R$23.5 million, up
200.2% YoY.
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
In the following week, the Company
will upload the presentation and pre-recorded remarks to its
investor relations website. The IR team will be available for any
questions.
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 first quarter of
2024.
|
INCOME
STATEMENT
|
|
Q1
|
|
2024
|
2023
|
Variation
|
|
(non-audited)
|
(restated)
|
|
(in thousands of
R$)
|
( %)
|
|
Revenue
|
212,636
|
179,047
|
18.8 %
|
|
Cost of
services
|
(131,779)
|
(100,098)
|
31.6 %
|
|
Gross
profit
|
80,857
|
78,949
|
2.4 %
|
|
Selling and marketing
expenses
|
(27,359)
|
(27,442)
|
-0.3 %
|
|
General and
Administrative expenses
|
(31,270)
|
(31,447)
|
-0.6 %
|
|
Research and
development expenses
|
(14,796)
|
(14,004)
|
5.7 %
|
|
Allowance for expected
credit losses
|
(5,431)
|
(18,269)
|
-70.3 %
|
|
Other income and
expenses, net
|
(11,353)
|
(83)
|
n.m.
|
|
Operating
loss
|
(9,352)
|
(12,296)
|
-23.9 %
|
|
Financial
expenses
|
(65,487)
|
(18,724)
|
249.7 %
|
|
Finance
income
|
5,283
|
2,625
|
101.3 %
|
|
Financial expenses,
net
|
(60,204)
|
(16,099)
|
274.0 %
|
|
Loss before
taxes
|
(69,556)
|
(28,395)
|
145.0 %
|
|
Deferred income tax and
social contribution
|
16,083
|
11,846
|
35.8 %
|
|
Current income tax and
social contribution
|
(2,420)
|
(218)
|
1010.1 %
|
|
Loss for the
period
|
(55,893)
|
(16,767)
|
233.4 %
|
|
Loss for the period
attributable to Owners of the Company
|
(56,011)
|
(16,839)
|
232.6 %
|
|
Non-controlling
interests
|
118
|
72
|
63.9 %
|
|
BALANCE
SHEET
|
|
31-Dec-23
|
31-Mar-24
|
|
(audited)
|
(non-audited)
|
|
Assets
|
|
|
|
Current
assets
|
250,331
|
294,438
|
|
Cash and
cash equivalents
|
63,742
|
71,525
|
|
Trade and
other receivables
|
148,784
|
171,905
|
|
Tax
assets
|
28,058
|
34,983
|
|
Prepayments
|
5,571
|
9,063
|
|
Other
assets
|
4,176
|
6,962
|
|
Non-current
assets
|
1,461,233
|
1,469,158
|
|
Restricted
Cash
|
6,403
|
6,578
|
|
Tax
assets
|
-
|
12
|
|
Prepayments
|
1,109
|
865
|
|
Financial
Investment
|
-
|
-
|
|
Property,
plant and equipment
|
14,413
|
14,518
|
|
Intangible
assets and goodwill
|
1,347,327
|
1,339,121
|
|
Deferred
Tax Assets
|
91,971
|
108,054
|
|
Other
Assets
|
10
|
10
|
|
Total
assets
|
1,711,564
|
1,763,596
|
|
|
|
|
31-Dec-23
|
31-Mar-24
|
|
(audited)
|
(non-audited)
|
|
Liabilities
|
|
|
|
Current
liabilities
|
607,374
|
585,153
|
|
Loans, borrowings and
Debentures
|
36,191
|
33,696
|
|
Derivative financial
instruments
|
|
|
|
Trade and other
payables
|
353,998
|
367,851
|
|
Liabilities from
acquisitions
|
134,466
|
96,963
|
|
Tax
liabilities
|
18,846
|
16,779
|
|
Employee
benefits
|
50,085
|
59,257
|
|
Lease
liabilities
|
2,056
|
2,314
|
|
Deferred
revenue
|
11,547
|
8,156
|
|
Taxes to be paid in
installments
|
185
|
137
|
|
Non-current
liabilities
|
215,243
|
340,923
|
|
Liabilities from
acquisitions
|
160,237
|
193,919
|
|
Trade and other
payables
|
-
|
-
|
|
Loans, borrowings and
Debentures
|
51,605
|
59,844
|
|
Lease
liabilities
|
752
|
2,004
|
|
Provisions for tax,
labor and civil risks
|
1,721
|
1,412
|
|
Taxes to be paid in
installments
|
313
|
302
|
|
Employee
Benefits
|
615
|
1,036
|
|
Derivative financial
instruments
|
-
|
82,406
|
|
Equity
|
888,947
|
837,520
|
|
Capital
|
957,525
|
1,007,522
|
|
Reserves
|
247,464
|
199,627
|
|
Translation
reserve
|
3,129
|
5,419
|
|
Accumulated
losses
|
-319,591
|
-375,602
|
|
Other components of
equity
|
283
|
283
|
|
Non-controlling
interests
|
137
|
271
|
|
Total equity and
liabilities
|
1,711,564
|
1,763,596
|
|
Q1
|
|
2024
(non-audited)
|
2023
(restated)
|
|
(in thousands of
R$)
|
|
Net cash from (used in)
operating activities
|
-12,865
|
99,560
|
|
Net cash used in
investing activities
|
-12,429
|
-2,703
|
|
Net cash from (used in)
financing activities
|
33,334
|
-38,366
|
|
Exchange rate change on
cash and cash equivalents
|
-257
|
288
|
|
Net (decrease)
increase in cash and cash equivalents
|
7,783
|
58,779
|
|
Interest
|
December 31,
2023
(audited)
|
March
31, 2024
(non-audited)
|
|
(in thousands of
R$)
|
|
Working
capital
|
100% CDI+2.51% to
6.55%
|
69,667
|
76,161
|
|
Debentures
|
18.16 %
|
18,129
|
17,379
|
|
Total
|
|
87,796
|
93,540
|
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:
|
Q1
|
|
Consolidated
|
2024
(non-audited)
|
2023
(restated)
|
|
(in thousands of
R$)
|
|
Gross
profit
|
80,857
|
78,949
|
|
(+) Amortization of
intangible assets acquired from business combinations
|
12,785
|
13,511
|
|
Non-GAAP Gross
Profit(1)
|
93,642
|
92,460
|
|
Revenue
|
212,636
|
179,047
|
|
Gross
Margin(2)
|
38.0 %
|
44.1 %
|
|
Non-GAAP Gross
Margin(3)
|
44.0 %
|
51.6 %
|
|
(1)
|
We calculate Non-GAAP
Adjusted Gross Profit as gross profit plus amortization of
intangible assets acquired from business combinations.
|
|
(2)
|
We calculate gross
margin as gross profit divided by revenue.
|
|
(3)
|
We calculate Non-GAAP
Adjusted Gross Margin as Non-GAAP Adjusted Gross Profit divided by
revenue.
|
The following tables shows the reconciliation for the Non-GAAP
Gross Profit and Non-GAAP Gross Margin for our SaaS and CPaaS
business segments:
|
Q1
|
|
SaaS
Segment
|
2024
(non-audited)
|
2023
(restated)
|
|
(in thousands of
R$)
|
|
Gross
profit
|
30,569
|
32,916
|
|
(+) Amortization of
intangible assets acquired from business combinations
|
12,785
|
13,511
|
|
Non-GAAP Gross
Profit(1)
|
43,354
|
46,427
|
|
Revenue
|
76,820
|
68,582
|
|
Gross
Margin(2)
|
39.8 %
|
48.0 %
|
|
Non-GAAP Gross
Margin(3)
|
56.4 %
|
67.7 %
|
|
(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.
|
|
Q1
|
|
CPaaS
Segment
|
2024
(non-audited)
|
2023
(restated)
|
|
(in thousands of
R$)
|
|
Gross
profit
|
50,300
|
46,033
|
|
(+) Amortization of
intangible assets acquired from business combinations
|
0
|
0
|
|
Non-GAAP Gross
Profit(1)
|
50,300
|
46,033
|
|
Revenue
|
135,816
|
110,462
|
|
Gross
Margin(2)
|
37.0 %
|
41.7 %
|
|
Non-GAAP Gross
Margin(3)
|
37.0 %
|
41.7 %
|
|
(1)
|
We calculate Non-GAAP
Adjusted Gross Profit for our CPaaS business segment as gross
profit for our CPaaS business segment plus amortization of
intangible assets acquired from business combinations for our CPaaS
business segment.
|
|
(2)
|
We calculate gross
margin for our CPaaS business segment as gross profit for our CPaaS
business segment divided by revenue of our CPaaS business
segment.
|
|
(3)
|
We calculate Non-GAAP
Adjusted Gross Margin for CPaaS business segment as Non-GAAP
Adjusted Gross Profit for our CPaaS business segment divided by
revenue for our CPaaS business segment.
|
The following table shows the reconciliation for our Adjusted
EBITDA and Normalized EBITDA:
|
Q1
|
|
2024
(non-audited)
|
2023
(restated)
|
|
(in thousands of
R$)
|
|
Loss for the
period
|
-55,893
|
-16,767
|
|
Current and Deferred
Income Tax
|
-13,663
|
-11,628
|
|
Financial expenses,
net
|
60,204
|
16,099
|
|
Depreciation and
Amortization
|
22,797
|
20,133
|
|
Adjusted
EBITDA(1)
|
13,445
|
7,837
|
|
Earn-outs
|
10,081
|
-
|
|
Non-Recurring
Events
|
-
|
-
|
|
Normalized
EBITDA(2)
|
23,526
|
7,837
|
|
(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-q1-2024-results-302196864.html
SOURCE Zenvia