The company struggles with structural profitability, recording a -13.80% operating margin that highlights an inability to achieve necessary economies of scale.
| Sales/Revenue | 0 | 196.74M | 193.28M | 168.99M | 124.55M | 89.86M | 12.14M |
| Revenue Growth % | - | 1.79% | 14.38% | 35.68% | 38.59% | 639.99% | - |
| Cost of Goods Sold | 0 | 68.92M | 70.75M | 66.14M | 52.81M | 39.56M | 2M |
| COGS % of Revenue | - | 35.03% | 36.61% | 39.14% | 42.4% | 44.02% | 16.5% |
| Gross Profit | 0 | 127.82M | 122.53M | 102.85M | 71.73M | 54.03M | 10.14M |
| Gross Margin % | - | 64.97% | 63.39% | 60.86% | 57.6% | 60.13% | 83.5% |
| Gross Profit Growth % | - | 4.32% | 19.14% | 43.38% | 32.76% | 432.85% | - |
| Operating Expenses | 26.99M | 154.98M | 106.05M | 292.04M | 167.43M | 85.42M | 29.12M |
| OpEx % of Revenue | - | 78.77% | 54.87% | 172.82% | 134.43% | 95.05% | 239.77% |
| Selling, General & Admin | 25.93M | 113.47M | 85.82M | 121.98M | 80.72M | 74.95M | 18.98M |
| SG&A % of Revenue | - | 57.68% | 44.4% | 72.19% | 64.81% | 83.4% | 156.27% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - |
| Other Operating Expenses | -528.98K | 41.5M | 20.23M | 170.06M | 86.72M | 10.47M | 10.14M |
| Operating Income | -26.99M | -27.16M | 16.48M | -189.19M | -95.7M | -31.39M | -18.98M |
| Operating Margin % | - | -13.8% | 8.53% | -111.96% | -76.84% | -34.92% | -156.27% |
| Operating Income Growth % | - | -264.8% | 108.71% | -97.69% | -204.92% | -65.38% | - |
| EBITDA | -25.75M | -7.6M | 36.33M | -170.48M | -78.47M | -17.81M | -16.23M |
| EBITDA Margin % | - | -3.86% | 18.8% | -100.88% | -63% | -19.82% | -133.65% |
| EBITDA Growth % | - | -120.91% | 121.31% | -117.26% | -340.65% | -9.72% | - |
| D&A (Non-Cash Add-back) | 1.24M | 19.56M | 19.85M | 18.71M | 17.23M | 13.58M | 2.75M |
| EBIT | 0 | -36.36M | 3.05M | -224.74M | -96.62M | -66.6M | -8.84M |
| Net Interest Income | 26.25M | -59.05M | -70.61M | -18.44M | -14.97M | -6.69M | 48K |
| Interest Income | 26.25M | 989K | 1.15M | 799K | 638K | 211K | 48K |
| Interest Expense | 0 | 60.03M | 71.76M | 19.56M | 15.81M | 7.26M | 0 |
| Other Income/Expense | 35.65M | -69.24M | -85.18M | -55.11M | -16.73M | -42.48M | 10.18M |
| Pretax Income | 8.65M | -96.4M | -68.71M | -244.3M | -112.43M | -73.86M | -8.8M |
| Pretax Margin % | - | -49% | -35.55% | -144.57% | -90.27% | -82.2% | -72.43% |
| Income Tax | 5.1M | 10.49M | 9.5M | 3.56M | 1.78M | 3.83M | 1.64M |
| Effective Tax Rate % | 58.98% | -10.88% | -13.83% | -1.46% | -1.58% | -5.19% | -18.69% |
| Net Income | 5.86M | -112.92M | -86.17M | -254.71M | -114.41M | -77.7M | -10.44M |
| Net Margin % | - | -57.4% | -44.58% | -150.73% | -91.86% | -86.46% | -85.97% |
| Net Income Growth % | - | -31.04% | 66.17% | -122.63% | -47.25% | -644.24% | - |
| Net Income (Continuing) | 959.79K | -106.89M | -78.21M | -247.86M | -114.21M | -77.7M | -10.44M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | -5.62M | 8.87M | 4.33M | 3.85M | 0 | 0 |
| EPS (Diluted) | 4.36 | -37.30 | -37.30 | -110.30 | -50.10 | -28.00 | 0.00 |
| EPS Growth % | - | 0% | 66.18% | -120.16% | -78.93% | - | - |
| EPS (Basic) | - | -37.30 | -37.30 | -110.30 | -50.10 | -28.00 | 0.00 |
| Diluted Shares Outstanding | 1.35M | 3.03M | 3.03M | 2.31M | 2.28M | 2.77M | 0 |
| Basic Shares Outstanding | 1.35M | 3.03M | 3.03M | 2.31M | 2.28M | 2.77M | 0 |
| Dividend Payout Ratio | - | - | - | - | - | - | - |
Limited liquidity and scale
As reported in financial statements, NVNI's top-line performance reflects a concerning 1.79% year-over-year growth rate, which suggests that the company's acquisition-led strategy is currently failing to generate meaningful organic momentum or successfully integrate its diverse portfolio of B2B software assets into a cohesive, scaling engine.
The minimal revenue expansion indicates that the company may be struggling with churn or a lack of cross-selling synergies across its HRTech and ERP verticals. Investors should monitor whether this stagnation is a temporary consolidation phase or a structural inability to grow the acquired base organically.
Based on reported figures, NVNI maintains a 64.97% gross margin that, while appearing healthy in isolation, remains significantly below the 80% benchmark typical of global SaaS peers, suggesting that localized implementation costs or infrastructure inefficiencies in the Brazilian market are creating a persistent drag on profitability.
The gap between gross margins and the reported -13.80% operating margin highlights a high fixed-cost burden at the holding company level. This suggests that the current revenue scale is insufficient to absorb the administrative overhead required to operate as a public entity.
According to recent SEC filings, NVNI's operating income consistently trails gross profit, with the company recording a -13.80% operating margin that indicates a failure to achieve the necessary economies of scale required to offset the heavy administrative and personnel costs inherent in its decentralized business model.
The lack of operating leverage suggests that each additional dollar of revenue is not yet contributing to a reduction in the relative cost of corporate operations. This warrants further investigation into whether the company can optimize its SG&A expenses without compromising the operational integrity of its acquired subsidiaries.
As evidenced by the significant variance between operating losses and net income figures, NVNI's bottom-line results appear heavily influenced by non-operating items, likely including one-time SPAC merger costs and interest expenses that obscure the underlying cash-generative capacity of the firm's core software assets.
The wide spread between operating and net margins suggests that investors should prioritize cash flow from operations over reported net income to gauge true performance. The reliance on non-operating adjustments may indicate that the company is currently prioritizing financial engineering over sustainable operational profitability.
Based on the company's reported $13.4M cash position and persistent net losses, the firm appears highly vulnerable to macro-economic shocks, as the current cash-to-loss ratio suggests a limited runway that may necessitate dilutive financing or asset divestitures to maintain operations in a high-interest-rate environment.
Short-sellers would likely focus on the company's inability to self-fund its acquisition-heavy strategy, which is a critical risk given the high cost of capital in Brazil. The reliance on external capital markets to bridge the gap between operating losses and growth targets remains a primary concern for long-term viability.
Quick answers to the most common questions about buying NVNI stock.
For fiscal year 2025, Nvni Group Limited Ordinary Shares (NVNI) reported total revenue of $196.7M. This represents a 1520.0% increase compared to $12.1M in 2020.
Nvni Group Limited Ordinary Shares (NVNI) reported a net loss of $112.9M for the fiscal year ending 2025.
Nvni Group Limited Ordinary Shares (NVNI) reported an operating income of $-27.2M, resulting in an operating profit margin of -13.8%. This margin reflects the operational efficiency of the business before interest and taxes.
Nvni Group Limited Ordinary Shares (NVNI) generated $127.8M in gross profit for the year, representing a gross profit margin of 65.0%. This demonstrates the company's core pricing power and production efficiency.