Education
About Us
Working with TipRanks
Follow Us
Zenvia (ZENV)
NASDAQ:ZENV
Top Page
Zenvia
(NASDAQ:ZENV)
Rating:61Neutral
Price Target:
$1.50
▼(-5.06% Downside)
Positive Factors
CPaaS Performance
Top-line expansion supported by CPaaS with higher volume.
Revenue Growth
Top-line expansion supported by growth in both CPaaS and SaaS.
Negative Factors
Client Base
Active client base fell with declines in both CPaaS accounts and SaaS accounts.
EBITDA Performance
Normalized EBITDA missed our estimate by 4% on higher costs.
Financial Performance
Net income of -BRL135m includes impact of non-recurring expenses and higher financial costs.
Zenvia (ZENV) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$83.12M
Dividend YieldN/A
Average Volume (3M)34.07K
Price to Earnings (P/E)―
Beta (1Y)1.04
Revenue Growth9.04%
EPS Growth37.96%
CountryUS
Employees1,076
SectorTechnology
Sector Strength87
IndustrySoftware - Infrastructure
Share Statistics
EPS (TTM)N/A
Shares Outstanding28,774,326
10 Day Avg. Volume43,150
30 Day Avg. Volume34,072
Financial Highlights & Ratios
PEG Ratio-0.05
Price to Book (P/B)0.97
Price to Sales (P/S)0.78
P/FCF Ratio15.20
Enterprise Value/Market Cap0.98
Enterprise Value/Revenue0.08
Enterprise Value/Gross Profit0.29
Enterprise Value/Ebitda-4.78
Forecast
1Y Price Target
$1.50Price Target Upside-5.06% Downside
Rating ConsensusHold
Number of Analyst Covering2
Zenvia Business Overview & Revenue Model
Company DescriptionZenvia Inc. develops a cloud-based platform that enables organizations to integrate several communication capabilities in Brazil, Mexico, and Argentina. It offers communication channels for businesses to engage or interact with their customers, such as SMS, Voice, WhatsApp, Facebook Instagram, Webchat, Messenger, rich communication service (RCS), and video; and communication solutions comprising SaaS for communication between businesses and end-consumers, such as marketing campaigns, sales teams' management, customer service and engagement, and customer success. The company also provides Zenvia Chat, a customer service platform that manages different communication channels in a single environment; Zenvia Message, a campaign manager to trigger RCS, SMS, and WhatsApp messages; Sirena, a solution for sales teams to communicate with customers through WhatsApp; and SenseData, a solution that uses advanced techniques to integrate and analyze large volumes of customer data, creating a unique 360º view of the customers and generating insights. In addition, it offers Zenvia Flow, a visual flow builder that allows customers to create communication and/or automation flows; Jornadas solution for enterprise clients to communicate with their customers through various digital channels and generate data-rich documents; and ALTU, the conversational automation solution for larger companies to solve their customer needs with automated yet humanized service through artificial intelligence. The company's platform assists customers in various use cases comprising marketing campaigns, customer acquisition, customer onboarding, warnings, customer services, fraud control, cross-selling and customer retention, ticket resolution, consumer health, and others. Zenvia Inc. was incorporated in 2020 and is based in São Paulo, Brazil.
How the Company Makes MoneyZenvia generates revenue primarily through a software-as-a-service (SaaS) model, offering subscription-based access to its communication platforms. Key revenue streams include fees from the use of its messaging services, voice communication tools, and chatbot solutions. The company also earns income from professional services, such as custom integrations and consulting, which help clients tailor Zenvia's solutions to their specific needs. Significant partnerships with telecom operators and technology providers enhance Zenvia's service offerings and expand its market reach, contributing to its overall earnings.
Zenvia Earnings Call Summary
Earnings Call Date:Jul 02, 2025
(Q1-2025)
| % Change Since: |
Next Earnings Date:Sep 10, 2025
Earnings Call Sentiment Neutral
The earnings call presented a mixed outlook for Zenvia. While strong revenue growth and successful cost management efforts were notable, the company faced significant margin pressure and transition challenges in its core CPaaS and SaaS businesses. The franchise model and LatAm expansion showed promise, but the decline in adjusted gross profit and one-time severance costs highlighted ongoing challenges.Q1-2025 Updates
Positive Updates
Strong Revenue Growth
In Q1 2025, Zenvia recorded a strong top-line growth of 39%, reaching nearly BRL 300 million, primarily driven by the CPaaS segment.
Decreased G&A Expenses
General and administrative expenses decreased by 24% year-over-year to BRL 24 million, bringing G&A as a percentage of revenues down to 8% from 14.7% a year ago.
Positive EBITDA Minus CapEx
EBITDA minus CapEx recorded a positive BRL 10 million inflow in the quarter, with expectations of continued faster EBITDA growth compared to CapEx.
Franchise Model Success
Zenvia launched a franchise model in Q1 and reached over 30 franchises, achieving their goal for the year within the first half.
Successful LatAm Expansion
Revenues from Latin America are estimated to be BRL 50 million in 2025, indicating more than 50% growth compared to 2024.
Negative Updates
Margin Pressure in CPaaS
The CPaaS business experienced continued margin pressure due to higher mix with lower margins and increased SMS costs from carriers.
Decline in Adjusted Gross Profit
Consolidated adjusted gross profit declined 21% to BRL 74 million from BRL 94 million a year ago, with a gross margin decrease of 25%.
One-time Severance Costs
Zenvia incurred approximately BRL 8 million in one-time severance costs during Q1 related to workforce reduction.
Zenvia Customer Cloud Ramp-up Challenges
The transition to Zenvia Customer Cloud impacted SaaS margins as the business is still in its ramp-up phase.
Company Guidance
During Zenvia's Q1 2025 Earnings Conference Call, CFO Shay Chor highlighted several key financial metrics and trends. The company reported a strong 39% year-over-year growth in total revenues, nearly reaching BRL 300 million, largely driven by a 58% increase in CPaaS revenue, which now constitutes 73% of total revenues. Despite this top-line growth, adjusted gross profit fell by 21% to BRL 74 million, and the gross margin decreased by 25% due to a higher CPaaS mix with lower margins and increased SMS costs. In contrast, SaaS revenue grew by 5%, making up 27% of revenues, driven by SMB customers. The company also managed to reduce G&A expenses by 24%, resulting in normalized EBITDA of BRL 20 million. Zenvia incurred BRL 8 million in one-time severance costs following a workforce reduction, expected to yield annual savings of BRL 30-35 million. Looking ahead, the company anticipates continued growth, particularly in its Zenvia Customer Cloud offering, with plans to expand in Latin America and leverage AI to enhance operations and client services.Zenvia Financial Statement Overview
Summary
Zenvia demonstrates strong revenue growth and improved cash flows, but persistent net losses and declining profitability margins are major concerns. The company has managed to decrease its reliance on debt, improving financial stability. However, operational inefficiencies reflected in negative EBITDA margins and declining equity are risks. Strategic improvements in operational efficiency and profitability are necessary for sustained financial health.Income Statement
Zenvia shows strong revenue growth, with a consistent increase from $429.7M in 2020 to $1.042B in TTM (Trailing-Twelve-Months) 2025, demonstrating resilience. However, net income losses are concerning, with a negative trend from a $21.4M loss in 2020 to a $94.68M loss in TTM 2025. The gross profit margin has decreased from 24.16% in 2020 to 26.42% in TTM 2025, indicating profitability challenges. The EBIT margin is slightly positive at 1.03% in TTM 2025, a recovery from previous losses. EBITDA margin turned negative to -1.63% in TTM 2025, highlighting operational inefficiencies.67
Positive
Balance Sheet
Zenvia's equity ratio decreased from 25.48% in 2020 to 44.85% in TTM 2025, indicating improved equity financing. However, the debt-to-equity ratio improved from 0.88 in 2020 to 0.14 in TTM 2025, suggesting reduced reliance on debt. However, net losses impact return on equity, which is negative. The decrease in stockholders' equity from $1.20B in 2021 to $783M in TTM 2025 is a concern.55
Neutral
Cash Flow
Zenvia has shown positive free cash flow growth, rising from $28.83M in 2020 to $114.89M in TTM 2025, indicating strong cash generation. The operating cash flow to net income ratio is strong, reflecting efficient cash conversion despite net losses. However, cash flow from operations could be more robust, with fluctuations noted over the years.72
Positive
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.04B | 959.68M | 807.58M | 756.72M | 612.32M | 429.70M |
| Gross Profit | 275.57M | 294.77M | 330.54M | 288.91M | 180.91M | 103.83M |
| EBITDA | -16.96M | 30.89M | 72.24M | -131.48M | -6.89M | 3.37M |
| Net Income | -94.68M | -154.66M | -61.00M | -243.03M | -44.65M | -21.43M |
Balance Sheet | ||||||
| Total Assets | 1.75B | 1.74B | 1.71B | 1.80B | 1.84B | 452.85M |
| Cash, Cash Equivalents and Short-Term Investments | 86.13M | 116.88M | 63.74M | 108.40M | 582.23M | 59.98M |
| Total Debt | 108.74M | 129.68M | 90.60M | 171.65M | 212.40M | 101.73M |
| Total Liabilities | 963.47M | 972.14M | 822.62M | 850.88M | 640.65M | 337.51M |
| Stockholders Equity | 783.01M | 771.41M | 888.81M | 953.34M | 1.20B | 115.35M |
Cash Flow | ||||||
| Free Cash Flow | 114.89M | 49.28M | 106.89M | 58.76M | -116.67M | 28.83M |
| Operating Cash Flow | 128.03M | 107.77M | 162.55M | 108.45M | -97.26M | 46.14M |
| Investing Cash Flow | -60.34M | -62.62M | -53.90M | -349.78M | -351.05M | -61.59M |
| Financing Cash Flow | -53.60M | 9.11M | -143.77M | -215.84M | 935.03M | 62.05M |
Zenvia Technical Analysis
Positive
1.58
Price Trends
1.53
Positive
1.49
Positive
1.70
Negative
Market Momentum
0.01
Positive
53.16
Neutral
66.67
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ZENV, the sentiment is Positive. The current price of 1.58 is above the 20-day moving average (MA) of 1.57, above the 50-day MA of 1.53, and below the 200-day MA of 1.70, indicating a neutral trend. The MACD of 0.01 indicates Positive momentum. The RSI at 53.16 is Neutral, neither overbought nor oversold. The STOCH value of 66.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ZENV.
Zenvia Risk Analysis
Zenvia disclosed 74 risk factors in its most recent earnings report. Zenvia reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Zenvia Peers Comparison
Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | $282.06M | 42.74 | 19.65% | ― | 27.84% | -13.78% | |
61 Neutral | $35.42B | 7.71 | -10.08% | 1.88% | 8.71% | -9.18% | |
61 Neutral | $83.12M | ― | -10.57% | ― | 9.04% | 37.96% | |
61 Neutral | $62.38M | ― | -9.11% | ― | 18.99% | 77.96% | |
54 Neutral | $126.47M | ― | -6139.13% | ― | -56.74% | 96.59% | |
44 Neutral | $59.96M | ― | -106.55% | ― | 295.86% | -2.95% | |
42 Neutral | $141.49M | ― | -128.83% | ― | 7.05% | 19.75% |
* Technology Sector Average
Performance Comparison
ZENV
Zenvia
1.58
-0.13
-7.60%
JG
Aurora Mobile
10.39
6.17
146.21%
PAYS
PaySign
5.18
0.55
11.88%
REKR
Rekor Systems
1.12
-0.06
-5.08%
AUID
Ipsidy
4.46
-3.54
-44.25%
STEM
Stem Inc
15.13
5.40
55.50%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.