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VTEX

Vtex

VTEX

Vtex • NYSE
$4.24 ▲ 3.41% (+0.14)
Market Cap $774.30 M
52w High $6.93
52w Low $3.65
Dividend Yield 0%
P/E 60.57
Volume 752.52K
Outstanding Shares 182.62M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $59.608M ▲ $41.911M ▼ $6.351M ▲ 10.655% ▲ $0.035 ▲ $7.229M ▲
Q2-2025 $58.79M ▲ $42.364M ▲ $2.994M ▲ 5.093% ▲ $0.017 ▲ $3.737M ▲
Q1-2025 $54.165M ▼ $41.179M ▲ $858K ▼ 1.584% ▼ $0.005 ▼ $526K ▼
Q4-2024 $61.524M ▲ $38.94M ▲ $6.264M ▲ 10.181% ▲ $0.034 ▲ $9.006M ▲
Q3-2024 $55.996M $38.846M $3.245M 5.795% $0.018 $3.457M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $202.535M ▼ $354.392M ▼ $112.434M ▼ $241.908M ▼
Q2-2025 $210.787M ▲ $365.573M ▲ $115.31M ▲ $250.224M ▲
Q1-2025 $205.28M ▼ $355.705M ▼ $109.817M ▼ $245.844M ▼
Q4-2024 $214.808M ▼ $366.778M ▼ $110.977M ▲ $255.745M ▼
Q3-2024 $217.039M $373.159M $110.946M $262.168M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $6.351M ▲ $8.165M ▲ $10.407M ▲ $-19.372M ▼ $-946K ▼ $7.513M ▲
Q2-2025 $2.986M ▲ $7.25M ▲ $-3.044M ▼ $-4.573M ▲ $256K ▼ $7.117M ▲
Q1-2025 $861K ▼ $6.702M ▼ $11.12M ▲ $-15.753M ▼ $2.412M ▲ $6.635M ▼
Q4-2024 $6.264M ▲ $12.759M ▲ $-2.037M ▲ $-13.349M ▼ $-3.852M ▼ $12.381M ▲
Q3-2024 $30K $8.723M $-8.597M $-479K $-385K $8.291M

Five-Year Company Overview

Income Statement

Income Statement VTEX shows a classic SaaS “scale-up then tune profits” pattern. Revenue has grown steadily every year, with no visible step-backs, which suggests solid demand and decent customer retention. Earlier years show meaningful operating and net losses as the company invested heavily in growth, but more recently it has moved to roughly breakeven and then to a modest profit. That shift from loss-making to slightly profitable is important: it indicates better cost control and improving unit economics, but margins still look thin, so results could be sensitive to slower growth or higher spending if competition intensifies.

Balance Sheet

Balance Sheet The balance sheet looks conservative and relatively clean. VTEX carries essentially no financial debt, relying mostly on equity to fund its operations, which reduces financial risk. Total assets and equity have grown over time, reflecting the scale-up of the business post-IPO. The cash balance was highest shortly after going public and has since normalized to a more modest level, but still appears adequate for an asset-light software model. The key watchpoint is that with limited cash growth and no debt, the company’s ability to self-fund expansion depends heavily on continuing to generate profits and positive cash flow.

Cash Flow

Cash Flow Cash flow has improved meaningfully. A few years ago, VTEX was burning cash from operations, which is typical for a growing SaaS platform investing ahead of revenue. That gradually narrowed, then moved to around breakeven, and is now modestly positive. Free cash flow follows the same pattern because capital spending is minimal, highlighting an asset-light model. This trend suggests the business has become more disciplined and is closer to “funding itself,” but the cushion is not large, so any reversal in operating performance would quickly show up in cash generation.

Competitive Edge

Competitive Edge VTEX competes in a tough global commerce software market but has carved out clear strengths. Its main edge is a unified, cloud-native platform that handles both consumer and business commerce, plus marketplace operations, on a single system. That reduces complexity for large brands compared with stitching together many different tools. Its deep roots and leadership reputation in Latin America add a regional moat, where local knowledge and long-term relationships matter. Built-in marketplace capabilities, strong order management, and a rich integration ecosystem further differentiate it. The flip side is that it faces powerful global rivals and fast-moving technology standards, so it must keep innovating to maintain this advantage.

Innovation and R&D

Innovation and R&D Innovation is a core part of the VTEX story. The company emphasizes a composable, low-code platform (VTEX IO) that lets customers customize and extend their storefronts quickly, which is especially valuable for complex enterprise needs. It is investing heavily in AI across operations, from intelligent automation and problem detection to ad optimization via its VTEX Ad Network. Security and data tools like VTEX Shield and the Data Pipeline show a focus on enterprise-grade reliability and analytics. The strategic roadmap centers on AI, B2B capabilities, and marketplaces, all high-value areas in commerce tech. The opportunity is significant, but it also requires sustained R&D spending and flawless execution to stand out in a crowded field.

Summary

VTEX is evolving from a high-growth, loss-making SaaS platform into a more balanced business that combines growth with emerging profitability and positive cash flow. Its technology and product positioning—unified commerce, strong marketplace tools, and AI-driven features—give it a differentiated role, particularly in Latin America and in complex B2B and omnichannel setups. The balance sheet is conservative with very low debt, but the cash buffer is not excessive, so continued operational improvement matters. Key strengths are recurring revenue, an asset-light model, and a clear innovation agenda; key risks are thin margins, intense global competition, and the need to keep investing in R&D to sustain its moat. Overall, VTEX looks like a still-maturing platform business that has recently crossed an important inflection point toward financial sustainability.

NEWS

November 6, 2025 · 4:01 PM UTC

VTEX Reports Third Quarter 2025 Financial Results

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November 6, 2025 · 3:56 PM UTC

VTEX Named a Challenger in the 2025 Gartner® Magic Quadrant™ for Digital Commerce

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October 22, 2025 · 4:01 PM UTC

VTEX to Announce Third Quarter 2025 Financial Results on November 6th, 2025

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October 15, 2025 · 9:00 AM UTC

73% of U.S. Consumers Plan to Shop at Discount Retailers This Holiday Season: VTEX Commerce

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