NVNIFOTCServices-Prepackaged SoftwareFiscal year ends December 31Also trades as NVNI, NVNIW, NVNWF
Nvni Group Ltd
Financials through fiscal 2025, year ended Dec 31, 2025Last filing: 20-F on Apr 30, 2026
$0.04+0.00 (+2.24%)
Close on Oct 19, 2026
Margins
Share of revenue, fiscal years 2020 to 2025
Gross margin
65.0%
Operating margin
-21.2%
Net margin
57.4%
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +1.8% | +16.5% | – | – | |
| Gross profit | +4.3% | +21.2% | – | – | |
| Net income | +31.0% | -0.4% | – | – | |
| Free cash flow | -81.0% | -18.4% | – | – |
Returns and balance sheet
6 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2020 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | – | -83.0% | |
| Return on assets | – | – | 30.0% | |
| Current ratio | – | – | 0.15 | |
| Interest coverage | – | – | – | |
| Capex to revenue | – | – | 0.5% | |
| Diluted shares | – | – | 9M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Nvni generated 70.36M BRL from operations and spent 8.87M BRL on capital expenditure, dividends and share buybacks. 100% of that went back into the business.
Generated
70.36M BRL
Used
8.87M BRL
Capital expenditure8.87M BRL100%Dividends0 BRL0%Share buybacks0 BRL0%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin57.4%
×Asset turnover0.52×
×Equity multiplier-2.77×
=Return on equity, FY2025-83.0%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 57.4% | 0.52× | -2.77× | -83.0% |
| FY2024 | 44.6% | 0.47× | -4.62× | -96.6% |
| FY2023 | 150.7% | 0.43× | -5.02× | -324.9% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
5of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero112.92M BRL
- Cash generatingOperating cash flow above zero8.05M BRL
- Return on assets improvedROA up on the prior year20.5% → 27.9%
- Earnings backed by cashOperating cash flow above net income8.05M BRL vs 112.92M BRL
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose0.16 → 0.15
- No dilutionShare count did not rise3M → 9M
- Gross margin improvedGross margin up on the prior year63.39% → 64.97%
- More efficientAsset turnover rose0.46 → 0.49