Vtex
- Open
- 4.05
- Day high
- 4.11
- Day low
- 4.02
- Prev close
- 3.95
- Volume
- 735K
- Mkt cap
- $692M
- P/E (TTM)
- 31.0
- EPS (TTM)
- $0.13
- P/B
- 3.0
- P/S
- 2.8
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$390K over the last 3 months (0 open-market buys, 20 sales)
- 🏛Institutions mixed (13F)
Vtex (VTEX) is a Technology company listed on NYSE. The stock is down 38% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 20 sales (SEC Form 4).
Vtex (VTEX) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 2 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
VTEX earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 7, 2026 | $0.03 | $0.02 | -33.3% | $61M | +0.1% |
| Nov 6, 2025 | $0.03 | $0.03 | +0.0% | $60M | -12.3% |
| Aug 7, 2025 | $0.02 | $0.02 | +0.0% | $59M | -5.5% |
| Feb 27, 2024 | $0.01 | $0.02 | +220.0% | $61M | +6.4% |
| Mar 2, 2023 | $0.01 | $0.02 | +83.3% | $45M | +10.2% |
| Nov 10, 2022 | $-0.06 | $-0.06 | -4.8% | $39M | +1.7% |
| Aug 11, 2022 | $-0.06 | $-0.11 | -83.3% | $39M | +2.1% |
| May 12, 2022 | $-0.08 | $-0.10 | -25.0% | $35M | +3.7% |
| Feb 24, 2022 | $-0.08 | $-0.05 | +37.5% | $37M | +1.9% |
| Nov 17, 2021 | $-0.10 | $-0.12 | -20.0% | $32M | +2.0% |
| Aug 17, 2021 | $-0.06 | $-0.09 | -50.0% | $31M | -1.2% |
| Dec 31, 2020 | — | $-0.02 | — | $29M | — |
VTEX insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 8, 2026 | Gomide de Faria Marianoofficer: Chief Executive Officer | Sell | 4,808 | $4.06 |
| Jul 8, 2026 | do Carmo Thomaz Junior Geraldoofficer: Chief Executive Officer | Sell | 4,808 | $4.06 |
| Jun 30, 2026 | do Carmo Thomaz Junior Geraldoofficer: Chief Executive Officer | Sell | 4,808 | $4.04 |
| Jun 30, 2026 | Gomide de Faria Marianoofficer: Chief Executive Officer | Sell | 4,808 | $4.04 |
| Jun 29, 2026 | do Carmo Thomaz Junior Geraldoofficer: Chief Executive Officer | Sell | 4,808 | $4.00 |
| Jun 29, 2026 | Gomide de Faria Marianoofficer: Chief Executive Officer | Sell | 4,808 | $4.00 |
| Jun 17, 2026 | Gomes Andre Spolidoro Ferreiraofficer: Chief Strategy Officer | Sell | 3,000 | $3.60 |
| Jun 3, 2026 | Gomide de Faria Marianoofficer: Chief Executive Officer | Sell | 4,808 | $4.00 |
| Jun 2, 2026 | do Carmo Thomaz Junior Geraldoofficer: Chief Executive Officer | Sell | 4,808 | $4.00 |
| May 27, 2026 | Scannapieco Alejandro Rauldirector | Sell | 15,937 | $3.59 |
| May 19, 2026 | Gomes Andre Spolidoro Ferreiraofficer: Chief Strategy Officer | Sell | 1,500 | $3.51 |
| May 11, 2026 | Gomide de Faria Marianoofficer: Chief Executive Officer | Sell | 4,808 | $4.01 |
| May 11, 2026 | do Carmo Thomaz Junior Geraldoofficer: Chief Executive Officer | Sell | 4,808 | $4.01 |
| Apr 28, 2026 | Gomide de Faria Marianoofficer: Chief Executive Officer | Sell | 4,808 | $4.01 |
| Apr 28, 2026 | do Carmo Thomaz Junior Geraldoofficer: Chief Executive Officer | Sell | 4,808 | $4.01 |
Source: VTEX SEC Form 4 filings, latest Jul 8, 2026. For informational purposes only — not investment advice.
See the full VTEX insider & 13F page →Vtex company profile
Overview
VTEX (NYSE:VTEX) is a Brazilian-founded software-as-a-service company that provides digital commerce platforms for enterprise brands and retailers. Founded in 2000 and headquartered in London, United Kingdom, VTEX went public in July 2021. The company has evolved from a single-product e-commerce platform into a comprehensive commerce suite, operating across 43 countries with significant presence in Brazil, Latin America, the United States, and Europe. VTEX serves enterprise customers seeking to build online stores, manage omnichannel operations, and create marketplace ecosystems.
Business
VTEX operates in the digital commerce platform industry, providing software-as-a-service (SaaS) solutions that enable businesses to conduct e-commerce operations. The digital commerce platform industry serves as the technological backbone for online retail, allowing companies to create, manage, and optimize their digital sales channels without building complex infrastructure from scratch. The company's core offering is a comprehensive commerce suite that includes several key components. The primary product is an e-commerce platform that enables businesses to build and operate online stores with features like inventory management, order processing, and customer management. Beyond basic e-commerce functionality, VTEX provides omnichannel capabilities that allow retailers to integrate their online and offline operations, managing orders and inventory across multiple sales channels including websites, mobile apps, physical stores, and social media platforms. VTEX also offers marketplace functionality, which allows businesses to create their own digital marketplaces where third-party vendors can sell products. This is particularly valuable for large retailers looking to expand their product offerings without holding additional inventory. The platform includes B2B commerce solutions designed specifically for business-to-business transactions, which often require different features like bulk ordering, custom pricing, and complex approval workflows. Recent product expansions include VTEX Ads (a retail media advertising platform), VTEX Data Pipeline (data analytics and integration tools), and VTEX Shield (security solutions). The company has also invested heavily in artificial intelligence capabilities to provide automated customer service, personalized shopping experiences, and operational efficiency improvements. The business operates primarily as a subscription-based model, with approximately 96% of revenue coming from recurring subscription fees. The remaining revenue comes from professional services and implementation support, though the company has deliberately reduced its services revenue to focus on higher-margin subscription income.
Revenue model
VTEX generates revenue primarily through subscription-based software licensing, with approximately 96% of total revenue coming from recurring subscription fees paid by enterprise customers. Customers typically pay annual or multi-year contracts based on their gross merchandise value (GMV) processed through the platform, along with fixed fees for platform access and additional features. The company's paying customers are primarily enterprise brands and retailers across various industries including fashion, electronics, automotive, beauty, and consumer goods. Notable customers include Sony, Walmart, Heineken, Colgate, Samsung, Armani, and Manchester City Football Club. VTEX focuses on customers with annual recurring revenue above $250,000, with 126 such high-value customers as of recent reports. Revenue growth is driven by several factors: acquiring new enterprise customers, expanding existing customer relationships through upselling additional products and services, geographic expansion as customers launch in new markets, and organic growth as customers' businesses grow and process more GMV through the platform. The company maintains a net revenue retention rate of 104%, indicating that existing customers are generally expanding their usage over time. Several factors can impact VTEX's profitability margins. Positive margin drivers include the highly scalable nature of SaaS software, improvements in subscription gross margins (currently around 78-79%), operational leverage as the company grows revenue faster than expenses, and the shift toward higher-margin subscription revenue versus lower-margin services. The company has also implemented AI-powered customer support optimization, which reduces operational costs. Margin pressures come from foreign exchange fluctuations, as significant revenue is generated in Brazilian reais and other Latin American currencies while costs are often in US dollars. Competitive pressures in the digital commerce space could limit pricing power, and economic downturns affecting retail customers could reduce platform usage and delay new customer acquisitions. The company's expansion into new geographic markets also requires upfront investments that can temporarily pressure margins.
Competitive moat
VTEX's competitive moat appears moderate but strengthening through several defensive characteristics. The company benefits from high switching costs once enterprise customers implement the platform, as migrating e-commerce operations involves significant technical complexity, time, and risk. The comprehensive nature of VTEX's commerce suite creates additional stickiness, as customers become dependent on integrated features across multiple business functions. The company's network effects are developing through its marketplace functionality and retail media platform, where more buyers attract more sellers and vice versa. VTEX's ecosystem of system integrators and technology partners also creates barriers to switching, as customers invest in relationships and integrations that work specifically with the VTEX platform. Geographic advantages provide some protection, particularly VTEX's strong position in Latin American markets where it has deep local knowledge, Portuguese and Spanish language capabilities, and established relationships. The company's composable commerce architecture and API-first approach also differentiate it from more rigid, monolithic competitors. However, the moat faces significant challenges from well-funded competitors including Shopify, Salesforce Commerce Cloud, Adobe Commerce, and SAP Commerce. These competitors have substantially larger resources, broader product portfolios, and stronger brand recognition in key markets like the United States and Europe. The rapid evolution of e-commerce technology also creates risks that new entrants or existing players could develop superior solutions. The competitive landscape is particularly intense in the mid-market and enterprise segments where VTEX operates. While the company's focus on composable commerce and international expansion provides differentiation, sustaining competitive advantages will require continued innovation and successful execution in new markets.
Risks & safety
VTEX demonstrates a strong financial safety profile with minimal solvency risk and reasonable valuation metrics for a growing SaaS company. **Liquidity and Solvency:** - Cash and short-term investments: $21.1 million (Q1 2025) - Current ratio: 3.39x indicating strong short-term liquidity - Debt-to-equity ratio: 1.3% showing minimal leverage - Positive free cash flow: $6.6 million in Q1 2025, $25.2 million for full year 2024 - No significant debt burden or near-term refinancing risks **Valuation Metrics:** - EV/EBITDA: 432x (Q1 2025) due to very low EBITDA, though improving - Price-to-book ratio: 3.77x reasonable for a technology company - Revenue multiple appears reasonable given 14-17% projected growth rates - Graham number and net-net metrics suggest potential undervaluation **Other Considerations:** - Subscription-based revenue model provides predictable cash flows - Operating leverage improving with gross margins expanding to 76% - Share repurchase program demonstrates management confidence - Geographic diversification reduces single-market dependency risk
Recent development
Over the past few years, VTEX has undergone a significant strategic transformation from a single-product e-commerce platform to a comprehensive commerce suite. This evolution reflects the company's response to changing market demands and competitive pressures in the digital commerce space. The most notable strategic pivot has been the expansion into retail media and advertising. VTEX launched VTEX Ads and acquired Newtail to strengthen its retail media capabilities, building a network that connects publishers and advertisers. The platform now serves over 400 advertisers, representing a new revenue stream that leverages the company's existing merchant relationships. Artificial intelligence integration has become a central focus, with VTEX investing heavily in AI-powered features across its platform. The company has developed AI-driven customer service optimization that can potentially reduce customer service costs by 50%, intelligent agents for autonomous workflow management, and personalized shopping experiences. The acquisition of Weni, an AI-powered customer service solutions company, further strengthened these capabilities. Product portfolio expansion has been aggressive, with launches including VTEX Data Pipeline for analytics and data integration, VTEX Shield for security solutions, and enhanced B2B commerce capabilities. The company has also expanded its partnership ecosystem, forming strategic relationships with Pinterest, TikTok, Accenture Prologic, and AWS to enhance its go-to-market capabilities. Geographic expansion continues to be a priority, with VTEX now operating in 43 countries compared to 38 in 2022. The company has achieved notable success in signing enterprise customers across the United States, Europe, and Latin America, with particular momentum in landing high-value contracts above $250,000 annually. The focus has shifted toward technical sales strategies and leveraging successful implementations to build market reputation in new regions.
VTEX company profile · for informational purposes only — not investment advice.
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