Q2 2024 Ci&T Inc Earnings Call Transcript
Key Points
- CI&T Inc (CINT) reported a net revenue of BRL565.7 million for Q2 2024, an 80.1% increase compared to Q1 2024, exceeding guidance and market expectations.
- The company achieved an adjusted EBITDA margin of 19.2%, demonstrating strong profitability metrics.
- CI&T Inc (CINT) onboarded over 100 clients and achieved almost 70% adoption of its AI-powered platform, CI&T Flow, across its teams.
- The company reported a healthy voluntary attrition rate of 10.4%, indicating strong employee satisfaction and engagement.
- CI&T Inc (CINT) generated BRL131 million in cash from operating activities in the first half of 2024, an 11.6% increase compared to the same period last year.
- Net revenue for Q2 2024 showed a 1.1% decline compared to the same period last year.
- Adjusted EBITDA for Q2 2024 saw a year-over-year decline of 4.8%, reflecting strategic investments in sales efforts.
- The company is still in the early stages of AI adoption, requiring a structured, method-based approach for both enterprises and teams.
- Despite strong growth in North America, the growth in LATAM was significantly lower, indicating regional disparities.
- The company faces a dynamic market environment with uncertain macroeconomic conditions, impacting budget stability and client spending.
(video playing)
Good morning. Welcome to Ci&T Earnings Call for the Second Quarter of 2024. I am Eduardo Galvao, Head of Investor Relations at Ci&T. Joining me on today's call are Cesar Gon, Founder and CEO; Bruno Guicardi, Founder and President for North America and Europe; and Stanley Rodrigues, our CFO.
This event is being recorded and all participants will be in a listen-only mode during the company's presentation. After that, there will be a Q&A session. If you'd like to submit a question, please send it via e-mail to [email protected]. The presentation is available on the company's Investor Relations website, and the replay will be available shortly after the event is concluded.
Some of the matters we'll discuss on this call, including our expected business outlook, are forward-looking statements. They are subject to known and unknown risks and uncertainties, which could cause actual results to differ materially from those expressed on this call.
We caution you not to place undue reliance
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