Cassio Bobsin: Thank you. You nailed it, Shay. We’re seeing the mark that is getting strong base in terms of demand for CPaaS, although at some times, it becomes more competitive. We should all be able to achieve what we are focusing on, which is profitability, and that’s doing pretty well and looking forward to see a nice way to move into the whole year in terms of profitability from CPaaS.
Gabriela Moraes: That’s super clear guys. Thank you very much.
Operator: Well, the next question comes from Leonardo Olmos, sell side analyst from UBS. We are now opening the audio, so that you can ask your question live or I can read it here. I will read it. Hi. Good morning. Leonardo Olmos from UBS here. One question from my end. Please discuss the expected evolution for the shift in revenue mix. When do you expect the revenue to grow back again? And what is the new normalized growth rate we should expect from Zenvia? Thank you and have a good day.
Cassio Bobsin: Shay, I’ll take this from the — the shift in revenue mix and like what we expect and then you can complement on the expected numbers. So looking for the big strategy, the big picture of the strategy that we’re doing here. We’re seeing the SaaS business that’s going onto a healthy growth over the couple — this couple of quarters and we expect 2023 to keep the same pace of healthy growth, which means sustainable, not focusing on growth that would be very costly to achieve, but growth that can be sustained over time with a healthy rates that flows to gross profit and then flows to EBITDA. As we understand that the whole market is expecting us and the whole tech industry to generate at some point, but how we’re going to get into that direction and balance with CPaaS is the one that we look for.
How much are we able to achieve in terms of growth from CPaaS while we’re considering gross profit as Shay already mentioned. So we’re seeing both businesses doing pretty well and we’re seeing very high demand. We’re seeing them getting back to growth and especially when we look at gross profit growth. So that’s what the way we’re driving both businesses, both parts of the business into the numbers that we pick to drive in terms of what we expect looking 2023 and forward so Shay or Caio would complement on the numbers the normalized growth.
Shay Chor: So thanks, Cassio. So, as we’ve been saying in our guidance is detailed in this and there’s a reason for that, right? So we, as we said, our CPaaS business, we expect it to be flat. And again, the reason is that for that specific business, we are not concerned with how our top line grows as much as we are concerned with our gross profit and EBITDA and cash generation evolves. So we are looking more on the CPaaS business on a gross profit and EBITDA basis than revenue growth, but you should expect it to be flat, if any, if it goes well and as we’ve seen improved, you can assume that low single-digits could be done. But again, at this point, we prefer to be on the safe side and wait for to see if the competitive dynamics improve.
And as for the SaaS business, we continue to see the SaaS business growing at around 30% a year. Q4, it grew 40%, 44% on a pro forma basis. We continue to see a combination of net revenue expansion with clients being added and that’s the normalized level you should expect for the different businesses. I don’t know if Caio wants to add anything to that.
