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VTEX

VTEX

NYSE•VTEX
CEO: Mr. Geraldo do Carmo Thomaz Jr.
Sector: Technology
Industry: Software - Application
Listing Date: 2021-07-21
VTEX provides software-as-a-service digital commerce platform for enterprise brands and retailers. Its platform enables customers to execute their commerce strategy, including building online stores, integrating, and managing orders across channels, and creating marketplaces to sell products from third-party vendors. It has operations in Brazil, Argentina, Chile, Colombia, France, Italy, Mexico, Peru, Portugal, Romania, Singapore, Spain, the United Kingdom, and the United States. VTEX was founded in 2000 and is headquartered in London, the United Kingdom.
Contact Information
Aviation House, 3rd Floor, room 03-A109 125 Kingsway, London, WC2B 6NH, United Kingdom
N/A
vtex.com
Market Cap
$666.55M
P/E (TTM)
41.7
41.3
Dividend Yield
--
52W High
$6.93
52W Low
$3.52
52W Range
4%
Rank58Top 85.6%
2.3
F-Score
Modified Piotroski Analysis
Based on 6-year fundamentals
Weak • 2.3 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2020-2025

Financial Dashboard

Q3 2025 Data

Revenue

$59.61M+6.45%
4-Quarter Trend

EPS

$0.04+100.00%
4-Quarter Trend

FCF

$7.51M-9.38%
4-Quarter Trend

2024 Annual Earnings Highlights

Key Highlights

Revenue and GMV Growth Total revenue reached US$226.7M, up 12.5% in USD; GMV grew 10.4% to US$18.2B, indicating strong platform adoption.
Return to Profitability Achieved net income of US$12.0M in 2024, successfully reversing the US$13.7M net loss reported in the prior year.
Strong Free Cash Flow Free Cash Flow improved significantly to US$25.2M in 2024, compared to only US$3.8M generated in 2023.
Enterprise Customer Retention Net Revenue Retention (NRR) remained robust at 104.3% (FX Neutral basis) for 2024, demonstrating sustained enterprise customer value.

Risk Factors

Macroeconomic and Currency Volatility Exposure to currency fluctuations and high inflation in key Latin American markets may adversely affect operating results.
Intense Market Competition Faces competition from established players like SAP Hybris and Shopify Plus, requiring substantial, ongoing investment in platform innovation.
Third-Party System Dependency Platform reliability hinges on external service providers; breaches or service interruptions could severely harm reputation and operations.
Customer Acquisition Cost Pressure Increasing costs for digital marketing channels, especially search engine advertising, could negatively impact customer acquisition efficiency.

Outlook

Continued Ecosystem Expansion Plans to continue investing in the third-party ecosystem, including SIs and marketplaces, to further expand customer capabilities and drive growth.
Geographic Expansion Focus Strategy focuses on growing the Latin American customer base while continuing disciplined investment in US and European operations.
Investment in Innovation Will increase R&D spending to launch innovative features like VTEX Ads and enhance the core Composable Commerce platform.
Maintain High Customer Support Commitment to offering high-quality 24/7 support to maintain strong enterprise customer renewal and expansion rates globally.

Peer Comparison

Revenue (TTM)

OppFi Inc.OPFI
$573.52M
+9.6%
Digital Turbine, Inc.APPS
$515.64M
+4.9%
AMTD Digital Inc.HKD
$415.82M
+875.6%

Gross Margin (Latest Quarter)

OppFi Inc.OPFI
84.1%
+2.5pp
Docebo Inc.DCBO
80.9%
+0.3pp
VTEXVTEX
77.3%
+2.8pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
OPFI$880.92M69.413.1%46.2%
BLND$811.90M-125.1-68.6%0.9%
RSKD$735.20M-20.5-10.7%6.1%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
-1.0%
Flat Growth
4Q Net Income CAGR
0.5%
Profitability Slowly Improving
Cash Flow Stability
100%
Strong Cash Flow

Research & Insights

Next earnings:Feb 24, 2026
|
EPS:$0.05
|
Revenue:-
Reports
All Years

  • Form 20-F - FY 2024

    Period End: Dec 31, 2024|Filed: Feb 25, 2025|
    Revenue: $226.71M+12.5%
    |
    EPS: $0.06+188.1%
    Beat

  • Form 20-F - FY 2023

    Period End: Dec 31, 2023|Filed: Feb 27, 2024|
    Revenue: $201.52M+27.9%
    |
    EPS: $-0.07+72.8%
    Miss

  • Form 20-F - FY 2022

    Period End: Dec 31, 2022|Filed: Mar 2, 2023|
    Revenue: $157.62M+25.3%
    |
    EPS: $-0.27+15.6%
    Beat

  • Form 20-F - FY 2021

    Period End: Dec 31, 2021|Filed: Feb 24, 2022|
    Revenue: $125.77M+27.5%
    |
    EPS: $-0.32-7341.9%
    Beat