Zenvia (ZENV) Q4 2024 earnings summary

Executive summary

• Entered a new strategic cycle in 2025, focusing on the AI-driven Zenvia Customer Cloud as the core business, following acquisitions and platform integration, with 6,000 companies onboarded and 20% international clients by year-end 2024.

• Zenvia Customer Cloud, launched in October 2024, is central to growth, leveraging AI, data analytics, and a usage-based pricing model to drive customer engagement and operational efficiency.

• International expansion, especially in Argentina and Mexico, is contributing positively to platform adoption and revenue.

• Targeting accelerated organic growth, operational streamlining via AI, and Latam expansion.

Financial highlights

• FY 2024 revenues reached BRL 960 million, up 19% year-over-year; Q4 revenues were BRL 231 million, a 7% increase year-over-year.

• Adjusted gross profit for Q4 2024 declined 60% to BRL 49 million, with gross margin dropping to 21% due to a one-time BRL 27.8 million SMS cost adjustment and lower SaaS margins.

• Normalized EBITDA for FY 2024 was BRL 105 million, up 38% year-over-year, but missed guidance due to Q4 margin pressures.

• Ended 2024 with a cash balance of BRL 117 million, up BRL 53 million year-over-year.

• Net loss for FY 2024 was BRL 155 million, compared to BRL 61 million in 2023.

Outlook and guidance

• Zenvia Customer Cloud expected to grow 25%-30% in 2025, with gross margin between 68%-70% and positive EBITDA margin.

• Legacy SaaS and CPaaS businesses projected to grow 5%-8% in 2025, with CPaaS growth expected to normalize after a strong 2024.

• SaaS gross margin anticipated to return to 2023 levels (45%-50%), while CPaaS margin should remain near 2024 levels (around 25%-26%).

• Main financial goals for 2025 are to deleverage the balance sheet and improve EBITDA over 2024.