Zenvia Inc.
ZENVF Technology Software Application
Zenvia Inc.’s revenue for fiscal 2024 (year ended December 2024) was $177.9 million, up 9.99% from fiscal 2023. In the quarter to June 2025, revenue grew 13.9%, EPS fell 133.3% and free cash flow fell 2,043.7%, each against the same quarter a year earlier. Revenue growth for five consecutive years.
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Zenvia Inc. (ZENVF) Altman Z-score
Zenvia Inc.'s Altman Z-score for fiscal 2024 is 0.32, in the distress zone (below 1.81).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2024 | 0.32 | 0.20 |
| FY2023 | 0.12 | 0.36 |
| FY2022 | −0.24 | (1.82) |
| FY2021 | 1.58 | — |
How fiscal 2024’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | (0.20) | — | −0.24 | |
| Retained earnings / total assets | (0.27) | — | −0.38 | |
| EBIT / total assets | 0.00 | — | 0.01 | |
| Market value of equity / total liabilities | 0.65 | — | 0.39 | |
| Sales / total assets | 0.55 | — | 0.55 | |
| Altman Z-score | Distress zone | 0.32 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −1.38 | ||
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| BMR Beamr Imaging Ltd. compare | 11.4× |
| VTSI VirTra, Inc. compare | 2.7× |
| INLX Intellinetics, Inc. compare | 2.2× |
| ZENVF Zenvia Inc. | 0.3× |
| CREX Creative Realities, Inc. compare | −0.3× |
| PDC Earlyworks Co., Ltd. Unsponsored ADR compare | −0.6× |
| NXPL NextPlat Corp. compare | −0.7× |
| STIXF Semantix, Inc. compare | −1.0× |
| FTFT Future FinTech Group Inc. compare | −6.6× |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets