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Zenvia, Inc. Class A (ZENV)
:ZENV
US Market
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Zenvia (ZENV) AI Stock Analysis

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ZENV

Zenvia

(NASDAQ:ZENV)

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Neutral 55 (OpenAI - 4o)
Rating:55Neutral
Price Target:
$1.50
▲(12.78% Upside)
Zenvia's overall stock score is driven by strong revenue growth and improved cash flows, but offset by persistent net losses and declining profitability margins. Technical indicators suggest bearish momentum, and valuation metrics are unattractive due to negative earnings. The earnings call provides some optimism for future growth, but current profitability pressures remain a concern.
Positive Factors
Revenue Growth
Consistent revenue growth, particularly in CPaaS, indicates strong market demand and effective product offerings, supporting long-term business expansion.
Cash Flow Improvement
Improved cash flow generation enhances financial flexibility, allowing Zenvia to invest in growth opportunities and manage debt more effectively.
Leadership Change
New CFO with strategic planning expertise could strengthen financial operations and align with growth goals, positively impacting long-term market positioning.
Negative Factors
Profitability Pressures
Declining gross profit and margins indicate operational inefficiencies and competitive pressures, potentially impacting long-term profitability.
Net Losses
Persistent net losses can erode shareholder value and limit reinvestment capabilities, posing challenges to sustainable growth.
Operational Inefficiencies
Negative EBITDA margins highlight operational inefficiencies, which could hinder profitability and competitiveness in the long term.

Zenvia (ZENV) vs. SPDR S&P 500 ETF (SPY)

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:Sep 10, 2025
(Q2-2025)
|
% Change Since: |
Next Earnings Date:Nov 12, 2025
Earnings Call Sentiment Neutral
The earnings call highlighted strong top line and Zenvia Customer Cloud growth, as well as a significant reduction in G&A expenses. However, there is pressure on profitability due to a competitive environment, leading to a drop in consolidated adjusted gross profit and EBITDA below expectations. Despite these challenges, there is optimism about future growth and profitability improvements.
Q2-2025 Updates
Positive Updates
Strong Top Line Growth
Zenvia reported a strong top line growth of 24%, mainly driven by CPaaS and the rollout of the Zenvia Customer Cloud.
Zenvia Customer Cloud Growth
Revenues from Zenvia Customer Cloud increased by 23% in the first half of the year compared to the same period last year, with an expectation to deliver growth of 25% to 30% in 2025.
Decrease in G&A Expenses
G&A expenses decreased by BRL 9 million or 27% compared to the same period last year, bringing the G&A to revenues ratio down to 9%.
CPaaS Revenue Growth
CPaaS revenues were up by 33%, with CPaaS accounting for 72% of total revenues.
Strong SaaS Gross Profit Growth
SaaS gross profit increased for the first time since Q2 of '24, with a 5% year-over-year rise to BRL 45 million.
Negative Updates
Pressure on Profitability
The market remains highly volatile and competitive, putting pressure on profitability, especially in the CPaaS segment.
Drop in Consolidated Adjusted Gross Profit
Consolidated adjusted gross profit fell to BRL 69 million with gross margin down to 24%.
Normalized EBITDA Below Expectations
Normalized EBITDA came in at BRL 11 million, below expectations.
Competitive SaaS Environment
The enterprise segment in Brazil for SaaS legacy solutions remains tough and competitive.
Company Guidance
In the Q2 2025 earnings call, Zenvia's CFO, Shay Chor, highlighted several key metrics that reflect the company's performance and future guidance. The company reported a 24% increase in top-line growth, primarily driven by the CPaaS segment. However, the competitive market resulted in a sharp drop in CPaaS gross profit and margin, leading to a consolidated adjusted gross profit of BRL 69 million and a gross margin of 24%, which remained stable compared to Q1. Despite these challenges, Zenvia is optimistic about a gradual profitability recovery by year-end. SaaS revenues grew 3% year-over-year, with Zenvia Customer Cloud revenues up 23% in the first half, supporting the target of 25-30% growth in 2025. The company also reduced G&A expenses by 27% year-over-year, bringing the G&A to revenues ratio down to 9%. Normalized EBITDA for the quarter was BRL 11 million, with expectations for progressive recovery. Looking ahead, Zenvia aims to achieve BRL 200 million in revenues from Zenvia Consumer Cloud with a 65-70% gross margin for the full year. The company is also exploring divesting non-core assets to optimize the balance sheet, with the focus on growing faster, scaling smarter, and deleveraging.

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
67
Positive
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.
Balance Sheet
55
Neutral
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.
Cash Flow
72
Positive
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.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue1.04B959.68M807.58M756.72M612.32M429.70M
Gross Profit275.57M294.77M330.54M288.91M180.91M103.83M
EBITDA-16.96M30.89M72.24M-131.48M-6.89M3.37M
Net Income-94.68M-154.66M-61.00M-243.03M-44.65M-21.43M
Balance Sheet
Total Assets1.75B1.74B1.71B1.80B1.84B452.85M
Cash, Cash Equivalents and Short-Term Investments86.13M116.88M63.74M108.40M582.23M59.98M
Total Debt108.74M129.68M90.60M171.65M212.40M101.73M
Total Liabilities963.47M972.14M822.62M850.88M640.65M337.51M
Stockholders Equity783.01M771.41M888.81M953.34M1.20B115.35M
Cash Flow
Free Cash Flow114.89M49.28M106.89M58.76M-116.67M28.83M
Operating Cash Flow128.03M107.77M162.55M108.45M-97.26M46.14M
Investing Cash Flow-60.34M-62.62M-53.90M-349.78M-351.05M-61.59M
Financing Cash Flow-53.60M9.11M-143.77M-215.84M935.03M62.05M

Zenvia Technical Analysis

Technical Analysis Sentiment
Negative
Last Price1.33
Price Trends
50DMA
1.49
Negative
100DMA
1.48
Negative
200DMA
1.70
Negative
Market Momentum
MACD
-0.05
Negative
RSI
45.29
Neutral
STOCH
83.33
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ZENV, the sentiment is Negative. The current price of 1.33 is below the 20-day moving average (MA) of 1.41, below the 50-day MA of 1.49, and below the 200-day MA of 1.70, indicating a bearish trend. The MACD of -0.05 indicates Negative momentum. The RSI at 45.29 is Neutral, neither overbought nor oversold. The STOCH value of 83.33 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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
315.82M47.8512.54%27.84%-13.78%
59
Neutral
48.81M-56.62-10.37%18.99%77.96%
55
Neutral
$69.74M-14.38%9.16%20.13%
54
Neutral
149.80M-0.6110.26%-56.74%96.59%
46
Neutral
42.62M-2.08-123.99%295.86%-2.95%
41
Neutral
221.08M-3.25-148.40%7.05%19.75%
61
Neutral
$37.18B12.37-10.20%1.83%8.50%-7.62%
* Technology Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
ZENV
Zenvia
1.33
-0.17
-11.33%
JG
Aurora Mobile
8.13
1.20
17.32%
PAYS
PaySign
5.80
2.13
58.04%
REKR
Rekor Systems
1.75
0.57
48.31%
AUID
Ipsidy
3.17
-3.12
-49.60%
STEM
Stem Inc
17.86
10.90
156.61%

Zenvia Corporate Events

Zenvia Reports Q2 2025 Growth in Customer Cloud Revenues
Sep 11, 2025

On September 10, 2025, Zenvia Inc. reported its financial results for Q2 2025, highlighting a 23% year-over-year increase in revenues from its Zenvia Customer Cloud services. Despite facing a volatile market environment and intense competition in the CPaaS sector, Zenvia remains optimistic about achieving a 25-30% growth for the full year 2025. The company is also implementing streamlining initiatives to improve profitability and expects a gradual recovery by year-end, setting a solid foundation for 2026.

Zenvia Inc. Reports Financial Losses for Mid-2025
Sep 11, 2025

Zenvia Inc. released its unaudited interim condensed consolidated financial statements for the period ending June 30, 2025. The company reported a decrease in total assets from December 2024 to June 2025, with a notable reduction in cash and cash equivalents. Despite an increase in revenue compared to the previous year, Zenvia faced a loss for the period, attributed to higher costs of services and financial expenses. The financial results highlight challenges in maintaining profitability, impacting the company’s market positioning and stakeholder confidence.

Zenvia Inc. Submits SEC Report for September 2025
Sep 11, 2025

On September 10, 2025, Zenvia Inc. submitted a report to the U.S. Securities and Exchange Commission, complying with the requirements of the Securities Exchange Act of 1934. This submission reflects Zenvia’s ongoing commitment to regulatory compliance, which is crucial for maintaining investor confidence and supporting its strategic objectives in the competitive technology sector.

Zenvia’s Q1 2025 Results Show Strong Revenue Growth Amid Strategic Transition
Jul 2, 2025

Zenvia Inc. reported its Q1 2025 financial results, highlighting a 39% increase in revenues compared to Q1 2024, driven by strong CPaaS growth and moderate SaaS expansion. The company is undergoing a strategic transition to the Zenvia Customer Cloud, impacting short-term margins but expected to enhance long-term performance. Despite a decrease in gross profit due to higher SMS costs, Zenvia maintained a positive normalized EBITDA of BRL 20 million, aligning with expectations. The company’s focus remains on completing the transition by year-end and strengthening its partner ecosystem, which is anticipated to yield significant results from past investments.

Zenvia Reports Positive Financial Turnaround in Q1 2025
Jul 2, 2025

Zenvia Inc. released its unaudited interim condensed consolidated financial statements for the period ending March 31, 2025. The company reported a revenue increase to 295,946 thousand Reais from 212,636 thousand Reais in the same period of 2024, reflecting a significant growth in its operations. Despite an operating loss of 2,203 thousand Reais, Zenvia achieved a net gain of 3,662 thousand Reais, marking a turnaround from the previous year’s loss. This financial performance indicates a positive shift in Zenvia’s market positioning and could have favorable implications for its stakeholders.

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.Date of analysis: Sep 27, 2025