By all indications, the founder and CEO of GetNinjas, Eduardo L'Hotellier, managed to do what he had promised to do in the first quarter this year: reduce the company's growth with the sole purpose of preserving resources, putting the "foot on the brake" with regard to the marketing. As a result, the company's cash burn was around 3.1 million reais in January to March, making a comparison with the 14.5 million that were found in the last quarter of 2021.
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However, there is another side to this coin: net revenue grew slightly. In fact, the company's net income was around 15.8 million reais, which represents an increase of around 3.5%, both in terms of annual and quarterly comparisons. As a result, with these expenses under control, losses in Ebitda lines decreased, from 10.4 million reais to 6.3 million reais, comparing with the previous quarter.
Thus, at the apex of acceleration, relative to the second quarter of 2021, Ebitda became negative by approximately 19 million reais. However, with completely high cash and identical income (which ended up generating financial income) the GetNinjas net loss reached 3.7 million reais, compared to 7 million in October and November 2021. Finally, Eduardo L’Hotellier was able to demonstrate that the old maxim “cash is king” is not exclusive to the old economy, saying: “I have cash for 25 years at the company, at the current pace”.
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