Zenvia Inc.

OTCPK:ZENV.F 株式レポート

時価総額：US$5.8m

Zenvia 過去の業績

過去 基準チェック /06

Zenviaの収益は年間平均-16.2%の割合で減少していますが、 Software業界の収益は年間 増加しています。収益は年間22.5% 13.4%割合で 増加しています。

主要情報

-16.19%

収益成長率

-8.84%

EPS成長率

Software 業界の成長17.33%
収益成長率13.44%
株主資本利益率-16.27%
ネット・マージン-10.98%
前回の決算情報30 Jun 2025

最近の業績更新

Recent updates

分析記事 • Sep 11

Zenvia Inc.'s (NASDAQ:ZENV) Share Price Is Matching Sentiment Around Its Revenues

You may think that with a price-to-sales (or "P/S") ratio of 0.5x Zenvia Inc. ( NASDAQ:ZENV ) is definitely a stock...
分析記事 • May 24

Is Zenvia (NASDAQ:ZENV) A Risky Investment?

David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...
分析記事 • Mar 01

Lacklustre Performance Is Driving Zenvia Inc.'s (NASDAQ:ZENV) 29% Price Drop

Zenvia Inc. ( NASDAQ:ZENV ) shares have retraced a considerable 29% in the last month, reversing a fair amount of their...
分析記事 • Jan 20

Here's Why Zenvia (NASDAQ:ZENV) Has A Meaningful Debt Burden

Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...
分析記事 • Dec 30

Zenvia Inc. (NASDAQ:ZENV) Surges 30% Yet Its Low P/S Is No Reason For Excitement

Despite an already strong run, Zenvia Inc. ( NASDAQ:ZENV ) shares have been powering on, with a gain of 30% in the last...
分析記事 • Dec 24

Zenvia's (NASDAQ:ZENV) Returns On Capital Not Reflecting Well On The Business

Did you know there are some financial metrics that can provide clues of a potential multi-bagger? Ideally, a business...
分析記事 • Nov 15

Revenues Working Against Zenvia Inc.'s (NASDAQ:ZENV) Share Price Following 26% Dive

The Zenvia Inc. ( NASDAQ:ZENV ) share price has fared very poorly over the last month, falling by a substantial 26...
分析記事 • Aug 02

Zenvia Inc. (NASDAQ:ZENV) Stock's 29% Dive Might Signal An Opportunity But It Requires Some Scrutiny

Zenvia Inc. ( NASDAQ:ZENV ) shares have had a horrible month, losing 29% after a relatively good period beforehand. The...
Seeking Alpha • Sep 16

Zenvia Grows Revenue But Operating Losses Remain Elevated

Summary Zenvia went public in July 2021, raising approximately $150 million in a U.S. IPO. The firm provides a variety of customer communications and experience software to companies in Latin America. ZENV has grown revenue and gross profit, but operating losses continue to mount. I'm on Hold for ZENV stock until management can make a substantial turn toward operating breakeven. A Quick Take On Zenvia Zenvia (ZENV) went public in July 2021, raising approximately $150 million in gross proceeds from an IPO that priced at $13.00 per share. The firm provides businesses in Latin America with a modern customer experience software and services platform. For the near term, I’m on Hold for ZENV until management can show a meaningful turn toward operating breakeven while continuing to produce 30% or more growth. Zenvia Overview São Paulo, Brazil based Zenvia was founded to develop a customer communications system for companies to digitally interact with their customers and prospective customers across the entire customer journey. Management is headed by founder and Chief Executive Officer Cassio Bobsin, who was previously the founder of WOW Accelerator, a large independent accelerator in Brazil. The company’s primary offerings include: Marketing campaigns Sales communication Customer service Client engagement APIs, chatbots and other tools Customer communication channels The firm pursues a ‘land and expand’ approach to gaining enterprise clients, which is common for enterprise software firms providing a SaaS solution. Zenvia’s Market & Competition According to a 2018 market research report by Research and Markets, the global customer experience management market is projected to grow to $21.3 billion by 2024. This represents a forecast CAGR of 22% from 2018 to 2024. The main drivers for this expected growth are the growing needs of customers for a personalized customer experience throughout their purchase journey. Also, experience management helps enterprises grow their brands, increase customer loyalty, reduce client attrition and improve their operations. Major competitive or other industry participants include: Infobip Sinch (CLCMF) Twilio (TWLO) MessageBird Zendesk (ZEN) Salesforce (CRM) Take Yalo Qualtrics (XM) Others Zenvia’s Recent Financial Performance Total revenue by quarter has risen per the following chart: 9 Quarter Total Revenue (Seeking Alpha) Gross profit by quarter has also grown accordingly: 9 Quarter Gross Profit (Seeking Alpha) Selling, G&A expenses as a percentage of total revenue by quarter have trended upward in recent quarters: 9 Quarter Selling, G&A % Of Revenue (Seeking Alpha) Operating income by quarter has remained negative and generally worsened in recent quarters: 9 Quarter Operating Income (Seeking Alpha) Earnings per share (Diluted) have remained negative over the past 9 quarters, with one exception: 9 Quarter Earnings Per Share (Seeking Alpha) (All data in above charts is GAAP) Since its IPO, ZENV’s stock price has fallen 89.3% vs. the U.S. S&P 500 index’s drop of around 11.9%, as the chart below indicates: 52 Week Stock Price (Seeking Alpha) Valuation And Other Metrics For Zenvia Below is a table of relevant capitalization and valuation figures for the company: Measure [TTM] Amount Enterprise Value / Sales 0.65 Revenue Growth Rate 50.4% Net Income Margin -9.3% GAAP EBITDA % -14.0% Market Capitalization $78,070,000 Enterprise Value $94,020,000 Operating Cash Flow -$11,140,000 Earnings Per Share (Fully Diluted) $0.65 (Source - Seeking Alpha) As a reference, a relevant partial public comparable would be Sprinklr (CXM); shown below is a comparison of their primary valuation metrics: Metric Sprinklr Zenvia Variance Enterprise Value / Sales 4.16 0.65 -84.4% Revenue Growth Rate 29.8% 50.4% 69.1% Net Income Margin -20.4% -9.3% -54.4% Operating Cash Flow -$13,090,000 -$11,140,000 -14.9% (Source - Seeking Alpha) A full comparison of the two companies’ performance metrics may be viewed here. The Rule of 40 is a software industry rule of thumb that says that as long as the combined revenue growth rate and EBITDA percentage rate equal or exceed 40%, the firm is on an acceptable growth/EBITDA trajectory. ZENV’s most recent GAAP Rule of 40 calculation was 36.4% as of Q2 2022, so the firm has performed reasonably well in this regard, per the table below: Rule of 40 - GAAP Calculation Recent Rev. Growth % 50.4% GAAP EBITDA % -14.0% Total 36.4% (Source - Seeking Alpha) Commentary On Zenvia In its last earnings call (Source - Seeking Alpha), covering Q2 2022’s results, management highlighted that the allocation of its IPO resources was toward M&A and R&D efforts. The firm produced strong client base expansion of 37% year-over-year as the firm accelerated its transition to a SaaS company. Management believes this is ‘just a fraction of the total addressable market for SaaS services in Latin America,’ where the company has achieved a 2% market share in the past year, per company leadership. As to its financial results, revenue rose 50% year-over-year, while gross margin was 38%, an increase of 5% year-over-year. Half of the revenue growth came from M&A deals and the other half from organic growth. I could not find a reference to the company’s net dollar retention rate, which is an important metric in gaining visibility into its product/market fit and sales & marketing efficiency.
Seeking Alpha • Aug 16

Zenvia reports Q2 results; reaffirms FY22 guidance

Zenvia press release (NASDAQ:ZENV): Q2 Revenue of BRL 203.9M (+50.3% Y/Y). Adjusted gross profit increased 72.7% in the quarter to BRL 77.0M, reflecting the strong revenue growth and improved mix, while adjusted gross margin expanded 500bps to 37.8%. Numbers are within the full-year guidance range: Revenue of BRL $875M - BRL $925M with 43% - 51% Y/Y growth; Adjusted Gross Margin of 35.0% - 36.0%.
Seeking Alpha • Jul 25

Zenvia reports prelim Q2 net revenue growth of 50.3%

Zenvia (NASDAQ:ZENV) on Monday reported prelim. Q2 net revenue of BRL 203.9M (~$38.1M), up 50.3% Y/Y. Prelim. Q2 adj. gross profit totaled BRL 77M (~$14.4M), up 72.7% Y/Y, with adj. gross margin expanding 500 bps to 37.8%. Total number of active customers grew 36% Y/Y to reach 14.7K. ZENV will report Q2 earnings on Aug. 15 after market close.
Seeking Alpha • Jul 12

Zenvia: Too Cheap To Ignore

Zenvia is now down over 80% since its IPO last year. The Twilio-backed company is operating in the CPaaS industry which has a massive TAM, especially in the LATAM region. It has been very active on the M&A end in order to transform itself into a unified end-to-end CX SaaS platform. It is now trading at a very compressed level while reporting very strong top-line growth with margins and profitability improvement. I rate the company a buy at the current price. Investment Thesis Zenvia (ZENV) is a communication software company that went public last year with the backing of CPaaS (communications platform as a service) leader Twilio (TWLO). The company's share price initially shot up over 80% from $10.2 to $18.5 within two months but started plummeting since then. Shares are now trading at $2.63, down over 80% from the all-time high last year. Zenvia is a Brazil-based CPaaS company founded back in 2004. It provides communication services to LATAM (Latin America) companies through multiple channels such as messaging, SMS, WhatsApp, RCS, and more. CPaaS is a fast-growing industry as companies are seeking more efficient ways to communicate and interact with their customers. Zenvia is also expanding beyond CPaaS into areas like CX (customer experience) through multiple acquisitions. The company is showing strong top-line growth thanks to the industry tailwinds and ongoing digital transformation in LATAM. Its valuation is also very attractive after the significant drop in share price. Chinese tech giant Tencent (OTCPK:TCEHY) is also taking advantage of the compressed share price and acquired 10.3% of Zenvia's Class A common shares in the market earlier this year, which translates to a 4.3% stake of total common shares. I believe this can be seen as a strong vote of confidence from Tencent. Therefore I rate Zenvia as a buy at the current price. Zenvia Market Opportunity CPaaS is currently one of the fastest-growing industries and has a huge TAM (total addressable market). The pandemic accelerated the pace of digital transformation and a lot of services are now moving online. Companies are now spending more on digital channels to interact and communicate with their customers. Gartner predicts that by 2025, 95% of companies will leverage CPaaS platforms to improve operational efficiency and customer experience digitally. According to Juniper Research, CPaaS sales will exceed $10 billion this year and are forecasted to increase to $34 billion by 2026. The industry is growing even quicker in LATAM as more people are now having access to mobile and the internet. This is evident with Neo-banks like Nu Holdings and e-commerce companies like MercadoLibre gaining popularity quickly. I believe the CPaaS industry will continue to grow as we are still in the early days of digital transformation, especially in the LATAM region. This will provide a huge market for the company to grow. Acquisitions Zenvia has been very active on the M&A end. It aims to become a unified end-to-end CX SaaS platform rather than a pure CPaaS company therefore it decided to expand into the CX area too. It acquired three companies last year which are D1, Sensedata, and Movidesk. These acquisitions allows the company to offer a much more comprehensive platform and work with customers throughout the whole communication life cycle. Sensedata is a customer success management platform. It enables businesses to create communication actions and specific customer journeys. By tracking and aggregating data from different providers, its solution enables automated customized actions in different touchpoints of the customer journey, creating more personalized and seamless experiences. Movidesk is one of the best customer service and service desk software in Brazil. It is an end-to-end support platform that defines workflows, provides integration with communication channels, and monitors tickets through dashboards and reports. Besides the improvement in product breadth and capability, these acquisitions will also provide multiple cross-selling opportunities. Cassio Bobsin, CEO, on Movidesk acquisition: "Movidesk's acquisition will be very synergistic and fully aligned with our value offer. It takes us from enabling communications and conversations to now enabling complete journeys for our clients' end-consumers through multiple channels along their relationship cycle. By centralizing customer channels, automating processes, and generating productivity for the team, Movidesk brings support intelligence and metrics to ZENVIA's communication platform and delivers an end-to-end customer journey," Zenvia Financials and Valuation Zenvia announced its first-quarter result in May and it is showing impressive growth rates (the currency shown here is Brazilian Real). The company reported a revenue of $197.6 million, a 61% increase YoY (year over year) from $122.7 million. Excluding acquisitions, the organic growth rate is 36%. Gross profit increased by 100% YoY from $33.4 million to $66.8 million. The increase is driven by the huge expansion in gross profit margin, which is up 650 basis points from 27.3% to 33.8% this quarter. Their land and expand strategy is working very well. Active customers increased 21% YoY from 10,190 to 12,400 and the net revenue expansion rate is 122%, representing a 130 basis points increase from 109%. Profitability remains weak but it is seeing some improvements. Net loss for the quarter was $(21) million compared to $(28.5) million, representing a 26.2% improvement YoY. Operating cash flow was negative $(16.4) million compared to negative $(43.8) million a year ago, representing a 62.5% improvement. The company's balance sheet remains very strong, with $82.2 million in cash and only $42.2 million in debt. This leaves them enough liquidity to get through the cash burn phase.
Seeking Alpha • Apr 01

Zenvia Inc.: Brazilian 'SaaS' Platform Looks Interesting On The Selloff

Zenvia has emerged as a leading cloud communications platform in Brazil with operations across Latin America. The company reported its Q4 results highlighted by strong growth and firming financials. The stock has been under pressure since its 2021 IPO but could be primed for a rebound supported by a positive outlook.
Seeking Alpha • Nov 23

Under-The-Radar Zenvia Could Be The Next LATAM Gem

Zenvia has the right combination of high forward growth rates, expanding margins, strong underlying unit economics, and a bargain valuation to drive upside. The company is seeing revenue acceleration amid platform expansion with accretive acquisitions. Management remains confident in achieving mid-term targets and in the belief that shares are undervalued and underfollowed. ZENV does have risks relating to FX rates and fluctuations, as well as expansion into other LATAM countries potentially being costly. Overall, ZENV could see substantial triple-digit upside in a bull case scenario.
Seeking Alpha • Aug 01

Backed By Twilio, Zenvia Has Some Potential After An Underwhelming IPO

ZENV has slumped after its IPO, but has a very attractive valuation against a group of CPaaS peers. ZENV is seeing re-acceleration of revenues, with Q2 preliminary results at R$154-159 million (US$29.5-30.5 million), for 65% y/y growth for Q2 and ~43% projected for FY21. Customer growth and net revenue expansion in a land and expand model support that growth. Some risks include weak gross margin, FX in reported figures, and potential issues in international expansion.

収支内訳

Zenvia の稼ぎ方とお金の使い方。LTMベースの直近の報告された収益に基づく。

収益と収入の歴史

OTCPK:ZENV.F 収益、費用、利益 ( )BRL Millions
日付収益収益G+A経費研究開発費
30 Jun 251,098-12121138
31 Mar 251,043-9522043
31 Dec 24960-15523247
30 Sep 24945-3727154
30 Jun 24879-10127057
31 Mar 24841-10027554
31 Dec 23808-6128853
30 Sep 23765-20627657
30 Jun 23727-22228360
31 Mar 23738-23929065
31 Dec 22757-24327564
30 Sep 22772-3825377
30 Jun 22755-7028864
31 Mar 22687-3725455
31 Dec 21612-4524246
30 Sep 21552-9721521
30 Jun 21502-5114920
31 Mar 21459-5313219
31 Dec 20430-2110916
31 Dec 19354147110
31 Dec 1827620564

質の高い収益: ZENV.Fは現在利益が出ていません。

利益率の向上: ZENV.Fは現在利益が出ていません。

フリー・キャッシュフローと収益の比較

過去の収益成長分析

収益動向: ZENV.Fは利益が出ておらず、過去 5 年間で損失は年間16.2%の割合で増加しています。

成長の加速: ZENV.Fの過去 1 年間の収益成長を 5 年間の平均と比較することはできません。現在は利益が出ていないためです。

収益対業界: ZENV.Fは利益が出ていないため、過去 1 年間の収益成長をSoftware業界 ( 14.2% ) と比較することは困難です。

株主資本利益率

高いROE: ZENV.Fは現在利益が出ていないため、自己資本利益率 ( -16.27% ) はマイナスです。

総資産利益率

使用総資本利益率

過去の好業績企業の発掘

7D

1Y

7D

1Y

7D

1Y

企業分析と財務データの現状

データ最終更新日（UTC時間）
企業分析2026/06/21 19:05
終値2026/06/18 00:00
収益2025/06/30
年間収益2024/12/31

データソース

企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。

パッケージデータタイムフレーム米国ソース例
会社財務10年
  • 損益計算書
  • キャッシュ・フロー計算書
  • 貸借対照表
アナリストのコンセンサス予想+プラス3年
  • 予想財務
  • アナリストの目標株価
市場価格30年
  • 株価
  • 配当、分割、措置
所有権10年
  • トップ株主
  • インサイダー取引
マネジメント10年
  • リーダーシップ・チーム
  • 取締役会
主な進展10年
  • 会社からのお知らせ

* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。

特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。

分析モデルとスノーフレーク

このレポートを生成するために使用した分析モデルの詳細は、当社の Github ページ でご覧いただけます。また、レポートの使い方に関する ガイド や YouTube の チュートリアル もご用意しています。

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業界およびセクターの指標

私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。

アナリスト筋

Zenvia Inc. 0 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。2

アナリスト機関
Diego AragãoGoldman Sachs
Cesar MedinaMorgan Stanley