ZENV

MKT CAP:$24M

Zenvia Inc.

Market Cap

$24M

Technology·Software - Infrastructure·🇧🇷 Brazil·NASDAQ

Technology·Software Infra·🇧🇷·NASDAQ

Stock Price

$0.28-$0.73 (-71.84%)

Apr 16, 2026

Company Details

Zenvia 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 custom...

CEO

Cassio Bobsin Machado

IPO Date

Jul 22, 2021

Website

www.zenvia.com

Key Metrics TTM

Revenue

$207M

+36.5% YoY

Net Income

-$46M

EPS (Diluted)

-$0.89

Free Cash Flow

-$2M

Revenue / Share

$3.95

Gross Margin

23.0%

Operating Margin

-3.6%

Net Margin

-22.3%

FCF Margin

-0.9%

P/S

0.1x

P/E

—

Earnings Reports

Q2 2025

Sep 10, 2025

$58MEPS -$0.16

Q1 2025

Jul 2, 2025

$60M+39.2%EPS $0.01

FY 2024

May 15, 2025

$193M+18.8%EPS -$0.60

Q4 2024

May 16, 2025

$47M+6.6%EPS -$0.52

Q1 2024

Jul 15, 2024

$43M+18.8%EPS -$0.22

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q3 20	$23M	$7M	-$2M
Q4 20	$26M	$4M	-$4M
Q1 21	$25M	$6M	-$5M
Q2 21	$27M	$8M	-$759.1K
Q3 21	$33M	$11M	-$11M
Q4 21	$38M	$11M	$7M
Q1 22	$40M	$12M	-$5M
Q2 22	$41M	$13M	-$7M
Q3 22	$36M	$15M	-$4M
Q4 22	$35M	$18M	-$42M
Q1 23	$36M	$16M	-$2M
Q4 23	$44M	$22M	-$426.5K
Q1 24	$43M	$16M	-$2M
Q4 24	$47M	$7M	-$3M
Q1 25	$60M	$12M	-$443.8K
Q2 25	$58M	$11M	-$2M

Valuation

Quarter	P/S	P/E
Q3 20	—	—
Q4 20	5.1x	—
Q1 21	4.7x	—
Q2 21	4.3x	—
Q3 21	5.3x	—
Q4 21	1.8x	—
Q1 22	1.4x	—
Q2 22	0.8x	—
Q3 22	0.4x	—
Q4 22	0.3x	—
Q1 23	0.2x	—
Q4 23	0.4x	—
Q1 24	0.9x	—
Q4 24	0.6x	—
Q1 25	0.5x	—
Q2 25	0.4x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q3 20	$2M	$554.2K
Q4 20	-$76.0K	-$286.1K
Q1 21	-$9M	-$10M
Q2 21	$4M	$3M
Q3 21	-$18M	-$21M
Q4 21	$4M	$4M
Q1 22	-$3M	-$5M
Q2 22	$6M	$4M
Q3 22	$14M	$9M
Q4 22	$5M	$4M
Q1 23	$20M	$18M
Q4 23	$3M	-$104.0K
Q1 24	-$3M	-$5M
Q4 24	$9M	$10M
Q1 25	$1M	-$491.0K
Q2 25	-$5M	-$7M

Capital Expenditures

Quarter	CapEx
Q3 20	$1M
Q4 20	$210.1K
Q1 21	$947.1K
Q2 21	$793.8K
Q3 21	$2M
Q4 21	$499.6K
Q1 22	$2M
Q2 22	$2M
Q3 22	$4M
Q4 22	$2M
Q1 23	$2M
Q4 23	$3M
Q1 24	$2M
Q4 24	$1M
Q1 25	$2M
Q2 25	$2M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 21	+31.3%	+65.7%
Q2 21	+46.9%	+49.0%
Q3 21	+43.7%	+78.0%
Q4 21	+46.3%	+5.2%
Q1 22	+61.0%	+50.9%
Q2 22	+50.3%	+70.6%
Q3 22	+10.2%	-7.3%
Q4 22	-8.1%	+147.9%
Q1 23	-9.4%	-13.7%
Q4 23	+6.4%	-7.9%
Q1 24	+17.9%	+10.3%
Q4 24	+32.3%	-36.0%
Q1 25	+65.3%	+55.8%
Q2 25	+31.7%	+35.1%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q3 20	$0	0.0%
Q4 20	$0	0.0%
Q1 21	$0	0.0%
Q2 21	$123.7K	0.5%
Q3 21	-$128.5K	-0.4%
Q4 21	$220.2K	0.6%
Q1 22	$129.1K	0.3%
Q2 22	$281.0K	0.7%
Q3 22	$167.2K	0.5%
Q4 22	$16.3K	0.0%
Q1 23	$280.2K	0.8%
Q4 23	$10.9K	0.0%
Q1 24	$266.3K	0.6%
Q4 24	$243.8K	0.5%
Q1 25	$547.2K	0.9%
Q2 25	$651.3K	1.1%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q3 20	$929.8K	$5M	$2M
Q4 20	$910.0K	$4M	$2M
Q1 21	$1M	$7M	$3M
Q2 21	$1M	$3M	$5M
Q3 21	$1M	$16M	$4M
Q4 21	$6M	$6M	$4M
Q1 22	$3M	$7M	$5M
Q2 22	$3M	$8M	$6M
Q3 22	$4M	$9M	$3M
Q4 22	$4M	$8M	$6M
Q1 23	$3M	$8M	$2M
Q4 23	$3M	$8M	$2M
Q1 24	$3M	$8M	$2M
Q4 24	$1M	$12M	—
Q1 25	$2M	$7M	$2M
Q2 25	$2M	$8M	$2M

Rule of 40

Quarter	Rev Growth %	EBITDA Margin %	Rule of 40
Q3 20	—	-8.8%	—
Q4 20	—	-1.4%	—
Q1 21	31.3%	-23.4%	8.0
Q2 21	46.9%	10.4%	57.3
Q3 21	43.7%	-27.0%	16.7
Q4 21	46.3%	28.1%	74.4
Q1 22	61.0%	-1.8%	59.2
Q2 22	50.3%	-7.8%	42.5
Q3 22	10.2%	-5.3%	4.9
Q4 22	-8.1%	-113.6%	-121.7
Q1 23	-9.4%	3.6%	-5.8
Q4 23	6.4%	18.4%	24.8
Q1 24	17.9%	-12.9%	5.0
Q4 24	32.3%	-64.7%	-32.4
Q1 25	65.3%	13.8%	79.1
Q2 25	31.7%	-4.7%	27.0

Rule of 40

War Chest

Quarter	Cash	Short-term Investments	Total
Q3 21	$123M	$0	$123M
Q4 21	$117M	$0	$117M
Q1 22	$79M	$0	$79M
Q2 22	$24M	$0	$24M
Q3 22	$24M	$0	$24M
Q4 22	$20M	$2M	$22M
Q1 23	$32M	$0	$32M
Q2 23	$29M	$0	$29M
Q3 23	$23M	$0	$23M
Q4 23	$13M	$0	$13M
Q1 24	$14M	$0	$14M
Q2 24	$18M	$0	$18M
Q3 24	$21M	$0	$21M
Q4 24	$24M	$0	$24M
Q1 25	$17M	$0	$17M
Q2 25	$7M	$0	$7M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q3 20	39M	0.0%	—
Q4 20	39M	0.0%	—
Q1 21	37M	-6.3%	-6.3%
Q2 21	39M	+6.0%	-0.7%
Q3 21	41M	+5.9%	+5.1%
Q4 21	41M	+0.0%	+5.2%
Q1 22	33M	-21.1%	-11.4%
Q2 22	50M	+54.5%	+29.2%
Q3 22	42M	-17.4%	+0.8%
Q4 22	42M	+0.2%	+1.0%
Q1 23	42M	+0.1%	+28.1%
Q4 23	42M	+0.3%	-16.9%
Q1 24	51M	+21.2%	+21.9%
Q4 24	52M	+2.2%	+24.3%
Q1 25	52M	+0.8%	+25.1%
Q2 25	52M	+0.2%	+25.0%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q3 20	—	—
Q4 20	—	—
Q1 21	—	—
Q2 21	—	—
Q3 21	—	—
Q4 21	$35.3K	1K
Q1 22	$36.7K	1K
Q2 22	$37.9K	1K
Q3 22	$33.5K	1K
Q4 22	$29.6K	1K
Q1 23	$30.3K	1K
Q4 23	$40.6K	1K
Q1 24	$39.8K	1K
Q4 24	$48.8K	956
Q1 25	$62.4K	956
Q2 25	$60.2K	956

Revenue / Employee