Zenvia Inc. (NASDAQ:ZENV) Q3 2023 Earnings Call Transcript
Zenvia Inc. (NASDAQ:ZENV) Q3 2023 Earnings Call Transcript November 17, 2023
Operator: Good morning and thank you for standing by. Welcome to Zenvia’s Q3 2023 Earnings Conference Call. Today's speakers are Mr. Cassio Bobsin, Zenvia's Founder and CEO; and Mr. Shay Chor, CFO and Investor Relations Officer. Please be advised that today's conference is being recorded, and a replay will be available at the company's IR website, where you can also access today's presentation. [Operator Instructions] Now I would like to welcome one of our speakers for today, Mr. Cassio Bobsin, Founder and CEO. Sir, the floor is yours.
Cassio Bobsin: Hello, everyone, and thank you for joining us at Zenvia's third quarter '23 earnings call. Thank you all for being with us today. Our results for the third quarter showed the consistency of Zenvia's strategy as we continue to balance growth and profitability. During this quarter, we were able to accelerate revenue growth, especially in the CPaaS business while maintaining healthy profitability levels. This set of recent results attest to our ability to quickly adapt to various market scenarios while continuing to invest in new technologies, such as generative AI to strengthen Zenvia platform and exceed expectations of our customers. We completed the integration of Movidesk in the second quarter. And recently began the integration of SenseData's team and processes, which we expect to complete throughout 2024.
A CEO and a software engineer discussing a new project on a laptop at a modern office space.
Our strategic acquisitions are allowing us not only to expand our portfolio and market presence but also to bring more value to our customers who are starting to benefit from our end-to-end solutions being deeply integrated and bundled. That led us to our One Zenvia vision, which we briefly shared last quarter. That is to combine all of our solutions and technologies into a unified customer experience platform, enabling all of our customers to provide fluid, personal and engaging experience for its end customers. We'll benefit from our regional leadership on the CPaaS market and its new technological advances with the power of our CX solutions coming both from R&D and M&A initiatives into a unified offering that is expected to be rolled out throughout 2024.
As I mentioned, the CPaaS market continues to advance as demonstrated by our partnership with Google for the launch of Google Messages RCS or Rich Communication Service. We're incredibly excited by the potential of RCS as a natural evolution of SMS, bringing rich interactive content that boosts marketing campaign results as comparing to traditional SMS. By the end of 2023, Google expects to reach 1 billion RCS users, making it an opportunity that we must capitalize on. We are highly motivated by the ongoing evolution of our platform and its potential, as we look forward to sharing more information with you in the coming months. Now I'll hand it over to Shay to cover our performance in the third quarter.
Shay Chor: Thank you, Cassio. Hello, everyone, and thanks for being with us today. Let's start on Slide 5. I'll start by saying that the third quarter results attest to the consistency of our strategy to balance revenue growth and profitability despite the complex macroeconomic climate in Brazil. During this quarter, we delivered double-digit top line growth in both SaaS and CPaaS while maintaining healthy margins. Specifically in CPaaS, we saw an opportunity to gain market share with certain large enterprise customers. We believe this move is instrumental to set the foundation that will allow us to cross-sell our SaaS products in the near future, evolving from bundled packages to one single unified offering. This is what we're calling One Zenvia.
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