DTCY3

Dtcom Direct to Company S.A., known as DTCOM, is a publicly traded corporation headquartered in Quatro Barras, in the state of Paraná, and its shares are traded on B3 under the tickers DTCY3 and DTCY4. The company has been operating for about 25 years in the Brazilian market, with a track record linked to knowledge transmission and the development of solutions for distance education and corporate education. Since 2000, its shares have been listed on what was then Bovespa, which reinforces its trajectory as a publicly traded company focused on educational technologies and associated digital communication services.

DTCOM’s business model is centered on offering digital learning solutions that combine educational content, technology, and specialized services. The company defines itself as a learning ecosystem, integrating consulting, products, educational services, and technology to meet large-scale training and communication needs. Its activities involve both content creation and the technological support for distributing this material, with a focus on distance learning environments, learning management systems (LMS), and customized solutions for public and private organizations.

Among its main activities, DTCOM develops and produces digital educational content, multimedia formats, and learning objects, including videos, podcasts, quizzes, infographics, virtual and augmented reality applications, and other interactive resources delivered in HTML5. The company maintains a “content factory” dedicated to creating customized materials for courses and subjects, based on source texts either provided or developed, integrating this content into clients’ learning management systems. In addition to content production, it offers consulting services in communication and corporate education, instructional design, educational project planning, and support for implementing internal training units.

From a formal standpoint, DTCOM’s corporate purpose is broad and covers telecommunications and broadcasting services throughout Brazil, transportation of images, voice, audio, video, data, and high-speed internet, as well as promoting training, updating, and professional development via satellites and support systems. The company also operates in distance continuing education in various fields of knowledge, distribution and commercialization of pay TV channel signals, creation and commercialization of audiovisual programs and products, and the provision of extension courses, managerial and professional training services. Complementing this scope are advertising placement on its own channels, e-learning services and consulting in distance learning, development of automation systems, data processing, marketing of equipment and software, and implementation and operation of videoconferencing systems integrated with satellite platforms.

DTCOM’s client base consists predominantly of large organizations, both public and private, with a geographically dispersed presence throughout Brazil. In the academic segment, the company serves higher education institutions and educational organizations that require content production and digital solutions for distance education. In 2023, Ânima Holding S.A. and Multivix Serra – Ensino Pesquisa e Extensão Ltda. stood out as key clients, both in the academic segment and served by the “factory” content unit, each accounting for more than 10% of net revenue. In addition to these institutions, the company serves a diversified client base, in which no other individual client accounts for more than 10% of revenue.

In the corporate and academic markets, DTCOM positions itself as a provider of communication and distance education solutions for large organizations that need specific content for professional training and network communication. In the public sector, demand is concentrated on training content for civil servants and, in some cases, for surrounding communities, in initiatives related to social programs. In the private sector, solutions often involve large-scale communication aligned with the geographic dispersion of organizational structures, combining training, updating, and internal communication initiatives. The company highlights the consolidation of the corporate education segment in Brazil from the 2000s onward and the significant growth of distance learning as the broader context for its operations.

From a geographical perspective, DTCOM’s revenue is entirely generated in Brazil, with no recorded revenue from abroad in recent reported periods. Its operations focus on serving clients distributed nationwide, with no indication of operations in other countries or dependence on international regulations. The services provided use telecommunications infrastructure, satellites, and support systems, but the company reports that its activities are not subject to specific government authorizations to conduct its core operations, nor to particular environmental licenses, reflecting the predominantly intangible and intellectual-services nature of its business model.

In its value chain, DTCOM’s main inputs are services from content creators, production companies, satellite providers, and educational technicians, among other specialized partners. The company follows a supplier diversification policy and states that it does not have material dependence on a small number of providers. Selection is based on proposals that consider price, delivery times, and service quality, with an expressed concern for compliance with labor, social security, and occupational safety regulations by partners. In terms of risks, the company acknowledges the potential impact of macroeconomic variables such as inflation, interest rates, and exchange rates on its cost structure, which may require pricing policy adjustments to preserve margins.

In environmental, social, and governance (ESG) practices, DTCOM reports that it does not publish a specific sustainability report or its own document with structured ESG information, and therefore does not adopt a materiality matrix, formalized ESG key performance indicators, or international methodologies such as TCFD in its disclosures. The company does state, however, an ethical guideline that prohibits donations or sponsorships aimed at obtaining undue favors, bribes, or preferential treatment, as well as contributions to political parties or candidates that could create conflicts of interest. There is no indication of a greenhouse gas emissions inventory or formal alignment with Sustainable Development Goals, with the company instead stating that it focuses on legal compliance and ethical conduct in its relations with clients, suppliers, and the public sector.

DTCY3 and DTCY4 shares represent shareholders’ ownership in DTCOM’s capital, reflecting a company positioned at the intersection of education and technology, with an emphasis on corporate education, distance learning, and digital content solutions. The combination of instructional material creation, consulting services in educational projects, and the use of technological platforms constitutes the core of the company’s revenue generation, operating in a niche of educational services and corporate communication aimed primarily at the Brazilian market.