Brazil · Delayed Price · Currency is BRL Enjoei Earnings Call Transcripts
Fiscal Year 2026
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Platform GMV rose 25.4% YoY to BRL 409.3 million, while continuing-operations adjusted EBITDA turned positive at BRL 1.6 million. Focus shifts to platform growth, cost dilution and stronger profitability after Elo7’s wind-down.
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Enjoei grew GMV 12% and revenue 18.8% YoY, while Elo7’s contraction weighed on consolidated gross profit and adjusted EBITDA. Management is discontinuing Elo7 and focusing investment on Enjoei growth, Free Mode and AI-enabled inventory expansion.
Fiscal Year 2025
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Q4 returned to a positive net result as efficiency gains lifted adjusted EBITDA, while consolidated GMV and revenue declined YoY. 2026 priorities center on sustainable growth, inventory expansion, and cash generation.
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Q3 delivered record net revenue of BRL 70.1 million and adjusted EBITDA of BRL 5.9 million, with BRL 241 million in liquidity. Enjupay, AI tools and franchise expansion support an efficiency-led growth strategy.
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Q2 revenue rose 1.7% YoY as advertising spend fell 25%; adjusted EBITDA stayed positive at BRL 3.6 million. Enjoei grew, while Elo7 remained under pressure and focused on efficient recovery.
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Adjusted EBITDA stayed positive at BRL 1.5 million, while GMV rose 4.4% YoY to BRL 399.1 million. Core marketplace growth and a 57% gross margin offset Elo7’s weaker revenue and GMV.
Fiscal Year 2024
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FY 2024 net revenue rose 36.3% to BRL 265.2 million, while Q4 adjusted EBITDA increased 31.2% YoY. Priorities for 2025 include margin stability, Elo7 growth, and franchise expansion.
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GMV rose 36% YoY and net revenue grew 24%, with recurring EBITDA positive at BRL 4.5 million and cash generation of BRL 982,000. Management targets double-digit EBITDA and continued positive cash flow while advancing franchise expansion.
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Adjusted EBITDA reached BRL 3 million for a third consecutive quarter as Q2 net revenue rose 9.7% QoQ to BRL 67 million. Platform growth and new store and franchise initiatives supported the outlook, while recurring operations consumed BRL 12.6 million in cash.
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Q1 delivered 54.3% gross margin, positive adjusted EBITDA of BRL 2.6 million excluding M&A one-offs, and BRL 2.1 million positive cash flow excluding acquisition disbursement. Online growth, Elo7’s repositioning, and the first physical store advanced.
Fiscal Year 2023
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Q4 revenue rose 86% YoY and adjusted EBITDA reached BRL 3.1m positive as margins improved. Elo7 and Cresci e Perdi expanded the portfolio, while 2024 plans center on pricing, logistics efficiencies and physical-store growth.
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Consolidated GMV grew 31% YoY and revenue 50%, with Elo7 adding scale and stronger margins. Integration synergies supported gross-margin expansion, while weaker consumer activity weighed on core-platform GMV; management is targeting efficient growth and 2024 franchising.
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Q2 revenue and gross profit advanced, gross margin reached 50.6%, and adjusted EBITDA improved to -BRL 2.1 million. GMV rose QoQ but remained lower YoY as gradual marketing investment resumed, with growth returns expected over time.
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Gross margin rose to 44.5% and adjusted EBITDA improved to BRL 5.6 million, while GMV fell 11% YoY. Plans call for gradual, margin-supported growth investment, with fashion and non-transactional revenue among the key levers.