Cassio Bobsin: Yeah, sure. We love SaaS metrics and these are the ones that we apply internally to check the healthiness of the business. And looking at specifically this concept of combining growth rate and profit margin. As we’re walking towards a path of interesting profitability, these exact number is going to have a very interesting balance in the next couple of quarters as we are forecasting around 10% of the margin. And from 2024 we are seeing I mean from the beginning of the year to the end of the year, we expect it to be a rising of this margin. We’re seeing a very interesting balance of how we’re able to manage this growth rate with EBITDA margins. We do have two different businesses, which means CPaaS has different logic and comparing to SaaS, which makes a bit more difficult and tricky for us to disclose just for the portion of the business.
So that’s why we and the auditing team prefer not to explicitly declare these kind of combined metric because it would become a bit more I mean tricky to report both CPaaS and SaaS, but we do use that for SaaS and it’s doing pretty well in that sense.
Shay Chor: Thanks, Cassio. Next here, two questions on balance sheet. And first one, what contributes to the BRL120 million increase on trade payable year-over-year? Caio, can you take that?
Caio Figueiredo: Yes, of course. So in trade payable, we have mainly the carriers, the carriers that we have. They use our — that we use for CPaaS for all the metrics that we use in the CPaaS mainly in the CPaaS business. And also the increase comes from the Twilio agreement that we have because the volume of Twilio, they use our infrastructure in Brazil, it’s increasing. And so that makes us our total payable to the carriers higher. So that’s the main reason why this tradable payment is higher from when compared to the last year.
Shay Chor: And just to add here for clarification, our agreement with Twilio is for revenue anticipation, right. So Twilio pays us three months in advance. So there is a positive working capital from this perspective because we get revenue from Twilio ahead of our payment to the carriers. So it has been one of the tools we’ve been using to improve our working capital metrics. The second question on balance sheet is, can you explain how the liabilities from acquisition increases from 280 million to 350 million sequentially? Shouldn’t the payment negotiation with D1, SenseData and Movidesk reduce their liabilities instead of increasing it? Back to you, Caio.
Caio Figueiredo: Yes. No, so the payment, the total amount should not reduce because we renegotiated the method of payment not in one instalment, in several instalments until 2026, but the overall payment amount of payment kept the same. Actually, when we renegotiated, especially Movidesk, we needed to recognize on our balance sheet. There is no amount that was not recognized in the past year. So that’s why the increase. But the overall amount that we should pay did not change. So as expected. So that’s why they increased. The only change that we had here was on how we pay those earn outs.
Shay Chor: Can you provide some color on your recent ChatGPT integration? Is there a strong demand from clients in general? What you’re most excited about AI integration at Zenvia. That’s for you, Cassio.
