VTEX/$VTEX

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About VTEX

Vtex provides a software-as-a-service digital commerce platform for enterprise brands and retailers. Its platform enables customers to execute their commerce plan, including building online stores, integrating and managing orders across channels, and creating marketplaces to sell products from third-party vendors. The VTEX platform is designed to be composable and complete, enabling its customers to seamlessly implement, optimize, test, and expand both B2C and B2B digital experiences. It generates maximum revenues from Brazil followed by Latin America and the rest of the world.
Ticker
$VTEX
Sector
Business services
Primary listing
NYSE
Employees
1,139
Headquarters
Grand Cayman, Cayman Islands
Website
vtex.com

VTEX Metrics

BasicAdvanced
$602M
21.51
$0.17
1.01
-

Bulls say / Bears say

VTEX’s newer growth engines—global expansion, B2B, Ads and AI—grew 20% on an FX-neutral basis in Q2 and now account for 18% of subscription revenue. If they keep outgrowing the core business, they could improve the company’s growth mix. (Yahoo Finance, StockAnalysis)
Profitability and cash generation improved sharply in Q2: non-GAAP operating income rose 62% year on year and free cash flow increased 79%, while total gross margin expanded by 300 basis points. This gives VTEX more scope to fund AI and expansion while maintaining financial discipline. (StockAnalysis, Quartr)
VTEX has put AI at the centre of its platform, adding autonomous commerce, customer-experience and advertising capabilities alongside a Google Universal Commerce Protocol integration. This broader product suite could deepen enterprise relationships and create new monetisation opportunities beyond its core commerce software. (VTEX Press, BusinessWire)
Underlying subscription growth is weak: Q2 increased only 1.3% on an FX-neutral basis, while management expects roughly flat FX-neutral growth in Q3 and low-single-digit growth for 2026. The guidance shows that a clear revenue reacceleration has yet to arrive. (Quartr, Yahoo Finance)
High interest rates and weaker consumer demand in Brazil and Argentina are pressuring customers, while enterprise buyers are taking longer to make decisions. These conditions can delay new contracts and reduce near-term usage even if VTEX’s win rates and churn remain stable. (StockAnalysis, Transcript Daily)
VTEX’s stronger margins have not yet been matched by clear evidence that AI, B2B and retail media are material revenue drivers, while the shares still trade on a trailing P/E of 23.6. If growth remains subdued, investors may not continue to pay a premium multiple for the transformation story. (Simply Wall St)
Data summarised monthly by Lightyear AI. Last updated on 19 Sept 2026.

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VTEX Q2 Earnings Call Highlights

MarketBeat1 month ago
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