VTEX (Vtex) Stock Financials & Earnings | Market Cap Arena

VTEX (Vtex) Stock Financials & Earnings | Market Cap Arena

VTEXVtex

Mkt Cap$714M

Technology·Software - Application·🇬🇧 United Kingdom·NYSE

Revenue (TTM)$241M

Net Income (TTM)$20M

EPS (TTM)$0.11

Free Cash Flow (TTM)$32M

Gross Margin77.5%

Op. Margin7.5%

Net Margin8.3%

FCF Margin13.4%

P/S Ratio (TTM)3.0x

P/E Ratio (TTM)35.7x

YoY Rev Growth+6.1%

Employees—

Earnings Reports

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q1 23	$42M	$28M	-$10M
Q2 23	$48M	$32M	-$7M
Q3 23	$51M	$36M	-$3M
Q4 23	$61M	$45M	$6M
Q1 24	$53M	$38M	-$2M
Q2 24	$57M	$42M	$807K
Q3 24	$56M	$42M	$3M
Q4 24	$62M	$46M	$7M
Q1 25	$54M	$41M	-$197K
Q2 25	$59M	$45M	$3M
Q3 25	$60M	$46M	$4M
Q4 25	$68M	$54M	$11M

Revenue Breakdown

Valuation

Quarter	P/S	P/E
Q1 23	4.3x	—
Q2 23	4.1x	—
Q3 23	3.8x	—
Q4 23	3.5x	—
Q1 24	3.4x	—
Q2 24	3.2x	108.8x
Q3 24	3.2x	58.6x
Q4 24	3.1x	46.9x
Q1 25	3.1x	42.2x
Q2 25	3.1x	53.4x
Q3 25	3.1x	43.4x
Q4 25	3.0x	35.7x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	-$5M	-$5M
Q2 23	-$3M	-$3M
Q3 23	$3M	$3M
Q4 23	$10M	$9M
Q1 24	$2M	$2M
Q2 24	$3M	$3M
Q3 24	$9M	$8M
Q4 24	$13M	$12M
Q1 25	$7M	$7M
Q2 25	$7M	$7M
Q3 25	$8M	$8M
Q4 25	$11M	$11M

Capital Expenditures

CapEx

Quarter	CapEx
Q1 23	$146K
Q2 23	$32K
Q3 23	$74K
Q4 23	$220K
Q1 24	$739K
Q2 24	$520K
Q3 24	$432K
Q4 24	$378K
Q1 25	$67K
Q2 25	$133K
Q3 25	$652K
Q4 25	$187K

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	+22.0%	+1.3%
Q2 23	+23.7%	-4.6%
Q3 23	+30.6%	+8.1%
Q4 23	+33.5%	+13.4%
Q1 24	+24.5%	+6.0%
Q2 24	+18.1%	+1.3%
Q3 24	+10.6%	-1.8%
Q4 24	+1.3%	-1.1%
Q1 25	+2.9%	-1.4%
Q2 25	+4.0%	+0.3%
Q3 25	+6.5%	+4.4%
Q4 25	+10.5%	+4.3%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$4M	9.5%
Q2 23	$4M	7.6%
Q3 23	$3M	6.6%
Q4 23	$4M	6.7%
Q1 24	$0	0.0%
Q2 24	$5M	8.0%
Q3 24	$3M	4.6%
Q4 24	$4M	7.2%
Q1 25	$4M	7.7%
Q2 25	$5M	7.8%
Q3 25	$0	0.0%
Q4 25	-$14M	-21.0%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q1 23	$14M	$8M	$15M
Q2 23	$16M	$8M	$14M
Q3 23	$16M	$8M	$15M
Q4 23	$14M	$9M	$15M
Q1 24	$14M	$9M	$17M
Q2 24	$14M	$9M	$17M
Q3 24	$13M	$8M	$16M
Q4 24	$13M	$8M	$17M
Q1 25	$15M	$9M	$17M
Q2 25	$15M	$9M	$17M
Q3 25	$17M	$8M	$17M
Q4 25	$17M	$8M	$18M

Rule of 40

Rule of 40

Quarter	Rev Growth %	EBITDA Margin %	Rule of 40
Q1 23	22.0%	-1.8%	20.1
Q2 23	23.7%	-10.9%	12.8
Q3 23	30.6%	-1.3%	29.3
Q4 23	33.5%	12.2%	45.7
Q1 24	24.5%	-2.6%	21.8
Q2 24	18.1%	2.1%	20.1
Q3 24	10.6%	6.2%	16.8
Q4 24	1.3%	14.6%	16.0
Q1 25	2.9%	1.0%	3.9
Q2 25	4.0%	6.4%	10.4
Q3 25	6.5%	12.1%	18.6
Q4 25	10.5%	17.3%	27.7

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$22M	$209M	$231M
Q2 23	$101M	$122M	$223M
Q3 23	$21M	$192M	$214M
Q4 23	$28M	$181M	$209M
Q1 24	$17M	$192M	$209M
Q2 24	$23M	$192M	$215M
Q3 24	$23M	$195M	$217M
Q4 24	$19M	$196M	$215M
Q1 25	$21M	$184M	$205M
Q2 25	$21M	$189M	$211M
Q3 25	$20M	$182M	$203M
Q4 25	$16M	$176M	$192M

Shares Outstanding

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q1 23	188M	-0.4%
Q2 23	187M	-0.6%
Q3 23	186M	-0.6%
Q4 23	184M	-1.1%
Q1 24	184M	+0.1%
Q2 24	192M	+4.4%
Q3 24	192M	-0.0%
Q4 24	192M	-0.0%
Q1 25	189M	-1.9%
Q2 25	187M	-0.6%
Q3 25	187M	-0.3%
Q4 25	181M	-3.3%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 19	—	—
FY 20	—	—
FY 21	$212K	592
FY 22	$360K	438
FY 23	$483K	417
FY 24	$450K	504
FY 25	$442K	544