Nvni Group (NVNI) investor relations material

Executive summary

• Net operating revenue for 2025 was R$196.7 million, up 1.8% from 2024, driven by SaaS platform growth and new client acquisitions.

• The company reported a net loss of R$106.9 million in 2025, with a working capital deficit of R$348.5 million and shareholders' deficit of R$154.8 million as of year-end.

• Adjusted EBITDA for 2025 was R$40.0 million, down from R$57.4 million in 2024, reflecting higher operating expenses and the deconsolidation of Smart NX.

• The company completed seven SaaS acquisitions and announced a pending acquisition of Beyondsoft, a global IT consulting firm, to diversify revenue and expand internationally.

Financial highlights

• SaaS platform subscription revenue grew 2% year-over-year to R$179.3 million in 2025.

• Data analytics service revenue increased 33% to R$12.8 million, while set-up and service revenue declined 52% due to the deconsolidation of Smart NX.

• Cost of services provided decreased 3% to R$68.9 million, while general and administrative expenses rose 44% to R$82.8 million, mainly due to higher USD-denominated costs.

• Impairment of goodwill was R$14.6 million, primarily related to Leadlovers, Munddi, and OnClick.

• Financial expenses decreased 36% to R$54.7 million, mainly due to lower interest on debentures and earn-out obligations.

• Adjusted Free Cash Flow was negative R$0.8 million in 2025, compared to positive R$22.5 million in 2024.

Outlook and guidance

• Management remains committed to long-term value creation through organic growth, operational improvements, and further acquisitions.

• The company is actively seeking additional capital through loans, equity sales, and strategic investments to support growth and meet acquisition-related obligations.

• The pending Beyondsoft acquisition, if completed, will diversify revenue streams and expand the company’s geographic footprint to 15 countries.