VTEX NYSE Services-Prepackaged Software Financials FY2023βFY2025
Vtex had $241M of revenue in fiscal 2025, up 6.1% on the year before.
Last close Β· Oct 23, 2026
$4.17
0.0%Hi! I read Vtexβs latest annual report (fiscal 2025). Here is what stands out:
Good So-so Weak
Are sales growing?
+6.1%
Yes. Sales grew 6.1% last year.
Does it make a profit?
8.3%
A little. It keeps 8.3% of every sale as profit.
Does profit turn into cash?
13.4%
Yes. 13.4% of sales ends up as free cash.
How healthy are the accounts?
7 / 8
Solid. It passes 7 of 8 health tests.
How is the share priced?
38.6x
One share costs 38.6 times its yearly profit per share.
Rules of thumb on reported numbers. A starting point, not a recommendation.
Is it selling more, and how much does it keep?
KIRA Β· Vtex had $241M of revenue in fiscal 2025, up 6.1% on the year before. Its operating margin was 7.5%, up 4.3Β pts: of every 100 in sales, about 8 is left after running the business.
In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).
Revenue
Margins, % of revenue
KIRA Β· Vtex made $20.0M of net profit in fiscal 2025.
Loss periods are shown in red.
In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.
Net income
Diluted EPS
How much cash comes in, and where does it go?
KIRA Β· Free cash flow was $32.3M in fiscal 2025, 13.4% of revenue.
Cash from operations minus capital spending.
In plain words: Profit on paper is not the same as cash in the bank. Free cash flow is the cash left after paying to run and maintain the business: the money it can hand back to shareholders, save or invest.
Free cash flow
Cash from operations vs capital spending
KIRA Β· Vtex returned $59.1M to shareholders in fiscal 2025, 183% of free cash flow. The diluted share count fell 3.7%.
In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).
Dividends and buybacks
Diluted shares outstanding (annual)
KIRA Β· In the last 12 months, insiders sold $2.8M of shares on the open market and bought none.
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. βPlanβ marks trades under a pre-arranged Rule 10b5-1 plan.
In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$2.8M
4 insiders
Of sales under plans
28%
$0.8M
| Date | Insider | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Oct 19, 2026 | de Faria Mariano GomideChief Executive Officer | Sold plan | 4,808 | $4.10 | $0.0M | Form 4 |
| Oct 19, 2026 | Carmo Thomaz Junior Geraldo doChief Executive Officer | Sold plan | 4,808 | $4.09 | $0.0M | Form 4 |
| Oct 16, 2026 | Andre Spolidoro Ferreira GomesChief Strategy Officer | Sold plan | 3,000 | $4.19 | $0.0M | Form 4 |
| Oct 12, 2026 | de Faria Mariano GomideChief Executive Officer | Sold plan | 4,808 | $4.00 | $0.0M | Form 4 |
| Oct 12, 2026 | Carmo Thomaz Junior Geraldo doChief Executive Officer | Sold plan | 4,808 | $4.00 | $0.0M | Form 4 |
| Sep 16, 2026 | Andre Spolidoro Ferreira GomesChief Strategy Officer | Sold plan | 3,000 | $3.68 | $0.0M | Form 4 |
| Aug 24, 2026 | Alejandro Raul ScannapiecoDirector | Sold | 11,994 | $3.67 | $0.0M | Form 4 |
| Aug 18, 2026 | Carmo Thomaz Junior Geraldo doChief Executive Officer | Sold | 43,203 | $3.52 | $0.2M | Form 4 |
| Aug 18, 2026 | de Faria Mariano GomideChief Executive Officer | Sold | 43,203 | $3.52 | $0.2M | Form 4 |
| Aug 17, 2026 | Andre Spolidoro Ferreira GomesChief Strategy Officer | Sold plan | 3,000 | $3.57 | $0.0M | Form 4 |
| Aug 17, 2026 | de Faria Mariano GomideChief Executive Officer | Sold | 76,797 | $3.58 | $0.3M | Form 4 |
| Aug 17, 2026 | Carmo Thomaz Junior Geraldo doChief Executive Officer | Sold | 76,797 | $3.58 | $0.3M | Form 4 |
| Aug 10, 2026 | Andre Spolidoro Ferreira GomesChief Strategy Officer | Sold | 15,000 | $4.04 | $0.1M | Form 4 |
| Aug 10, 2026 | Carmo Thomaz Junior Geraldo doChief Executive Officer | Sold plan | 4,808 | $4.05 | $0.0M | Form 4 |
| Aug 10, 2026 | de Faria Mariano GomideChief Executive Officer | Sold plan | 4,808 | $4.05 | $0.0M | Form 4 |
| Aug 3, 2026 | de Faria Mariano GomideChief Executive Officer | Sold plan | 4,808 | $4.40 | $0.0M | Form 4 |
| Aug 3, 2026 | Carmo Thomaz Junior Geraldo doChief Executive Officer | Sold plan | 4,808 | $4.40 | $0.0M | Form 4 |
| Jul 27, 2026 | Carmo Thomaz Junior Geraldo doChief Executive Officer | Sold plan | 4,808 | $4.01 | $0.0M | Form 4 |
| Jul 27, 2026 | de Faria Mariano GomideChief Executive Officer | Sold plan | 4,808 | $4.01 | $0.0M | Form 4 |
| Jul 20, 2026 | de Faria Mariano GomideChief Executive Officer | Sold plan | 4,808 | $4.22 | $0.0M | Form 4 |
| Jul 20, 2026 | Carmo Thomaz Junior Geraldo doChief Executive Officer | Sold plan | 4,808 | $4.22 | $0.0M | Form 4 |
| Jul 16, 2026 | Andre Spolidoro Ferreira GomesChief Strategy Officer | Sold plan | 3,000 | $4.04 | $0.0M | Form 4 |
| Jul 13, 2026 | de Faria Mariano GomideChief Executive Officer | Sold plan | 4,808 | $4.09 | $0.0M | Form 4 |
| Jul 13, 2026 | Carmo Thomaz Junior Geraldo doChief Executive Officer | Sold plan | 4,808 | $4.09 | $0.0M | Form 4 |
| Jul 6, 2026 | Carmo Thomaz Junior Geraldo doChief Executive Officer | Sold plan | 4,808 | $4.06 | $0.0M | Form 4 |
| Jul 6, 2026 | de Faria Mariano GomideChief Executive Officer | Sold plan | 4,808 | $4.06 | $0.0M | Form 4 |
| Jun 29, 2026 | Carmo Thomaz Junior Geraldo doChief Executive Officer | Sold plan | 4,808 | $4.04 | $0.0M | Form 4 |
| Jun 29, 2026 | de Faria Mariano GomideChief Executive Officer | Sold plan | 4,808 | $4.04 | $0.0M | Form 4 |
| Jun 26, 2026 | Carmo Thomaz Junior Geraldo doChief Executive Officer | Sold plan | 4,808 | $4.00 | $0.0M | Form 4 |
| Jun 26, 2026 | de Faria Mariano GomideChief Executive Officer | Sold plan | 4,808 | $4.00 | $0.0M | Form 4 |
| Jun 16, 2026 | Andre Spolidoro Ferreira GomesChief Strategy Officer | Sold plan | 3,000 | $3.60 | $0.0M | Form 4 |
| Jun 3, 2026 | Carmo Thomaz Junior Geraldo doChief Executive Officer | Sold | 42,946 | $3.78 | $0.2M | Form 4 |
| Jun 3, 2026 | de Faria Mariano GomideChief Executive Officer | Sold | 42,925 | $3.78 | $0.2M | Form 4 |
| Jun 2, 2026 | Carmo Thomaz Junior Geraldo doChief Executive Officer | Sold | 82,054 | $3.91 | $0.3M | Form 4 |
| Jun 2, 2026 | de Faria Mariano GomideChief Executive Officer | Sold | 82,075 | $3.91 | $0.3M | Form 4 |
| Jun 1, 2026 | Carmo Thomaz Junior Geraldo doChief Executive Officer | Sold plan | 4,808 | $4.00 | $0.0M | Form 4 |
| Jun 1, 2026 | de Faria Mariano GomideChief Executive Officer | Sold plan | 4,808 | $4.00 | $0.0M | Form 4 |
| May 22, 2026 | Alejandro Raul ScannapiecoDirector | Sold | 15,937 | $3.59 | $0.1M | Form 4 |
| May 18, 2026 | Andre Spolidoro Ferreira GomesChief Strategy Officer | Sold plan | 1,500 | $3.51 | $0.0M | Form 4 |
| May 7, 2026 | de Faria Mariano GomideChief Executive Officer | Sold plan | 4,808 | $4.01 | $0.0M | Form 4 |
| May 7, 2026 | Carmo Thomaz Junior Geraldo doChief Executive Officer | Sold plan | 4,808 | $4.01 | $0.0M | Form 4 |
| Apr 27, 2026 | de Faria Mariano GomideChief Executive Officer | Sold plan | 4,808 | $4.01 | $0.0M | Form 4 |
| Apr 27, 2026 | Carmo Thomaz Junior Geraldo doChief Executive Officer | Sold plan | 4,808 | $4.01 | $0.0M | Form 4 |
| Apr 20, 2026 | de Faria Mariano GomideChief Executive Officer | Sold plan | 4,808 | $4.16 | $0.0M | Form 4 |
| Apr 20, 2026 | Carmo Thomaz Junior Geraldo doChief Executive Officer | Sold plan | 4,808 | $4.16 | $0.0M | Form 4 |
| Apr 16, 2026 | Andre Spolidoro Ferreira GomesChief Strategy Officer | Sold plan | 3,000 | $4.12 | $0.0M | Form 4 |
| Apr 13, 2026 | de Faria Mariano GomideChief Executive Officer | Sold plan | 4,808 | $4.03 | $0.0M | Form 4 |
| Apr 13, 2026 | Carmo Thomaz Junior Geraldo doChief Executive Officer | Sold plan | 4,808 | $4.03 | $0.0M | Form 4 |
| Apr 6, 2026 | de Faria Mariano GomideChief Executive Officer | Sold plan | 4,808 | $4.04 | $0.0M | Form 4 |
| Apr 6, 2026 | Carmo Thomaz Junior Geraldo doChief Executive Officer | Sold plan | 4,808 | $4.04 | $0.0M | Form 4 |
| Mar 31, 2026 | de Faria Mariano GomideChief Executive Officer | Sold plan | 4,808 | $4.01 | $0.0M | Form 4 |
| Mar 31, 2026 | Carmo Thomaz Junior Geraldo doChief Executive Officer | Sold plan | 4,808 | $4.01 | $0.0M | Form 4 |
| Mar 25, 2026 | de Faria Mariano GomideChief Executive Officer | Sold plan | 4,808 | $4.01 | $0.0M | Form 4 |
| Mar 25, 2026 | Carmo Thomaz Junior Geraldo doChief Executive Officer | Sold plan | 4,808 | $4.01 | $0.0M | Form 4 |
Can it carry its debts, and how well does it use its money?
Cash, debt and the ratios that show how comfortably Vtex can carry it.
In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.
Cash vs debt (incl. leases)
| Fiscal year end | FY23 | FY24 | FY25 |
|---|---|---|---|
| Cash and short-term investments | β | $215M | $192M |
| Current ratio | β | 3.6x | 3.0x |
| Quick ratio | β | 3.6x | 3.0x |
| Total assets | β | $362M | $347M |
| Total liabilities | β | $108M | $113M |
| Shareholders' equity | $239M | $254M | $233M |
| Net debt (β = net cash) | β | β | β |
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.
Return on capital, equity and assets (annual)
KIRA Β· Vtex passes 7 of 8 financial health tests (Piotroski F-score).
Nine pass/fail tests of profitability, funding and efficiency. 8β9 is strong, 0β2 weak.
In plain words: Nine yes/no tests of financial health, one point each. A green tick is a pass: 7 to 9 points is solid, 0 to 3 is weak.
| Test | FY23 | FY24 | FY25 |
|---|---|---|---|
| Net income is positive | β | β | β |
| Cash from operations is positive | β | β | β |
| Return on assets rose | β | β | β |
| Cash from operations exceeds net income | β | β | β |
| Debt fell relative to assets | β | β | β |
| Current ratio rose | β | β | β |
| Share count didn't rise | β | β | β |
| Gross margin rose | β | β | β |
| Revenue rose relative to assets | β | β | β |
| F-score | β / 3 | β / 5 | 7 / 8 |
| Accruals ratio | β | β2.8% | β3.8% |
| Altman Z'' | β | 5.33 | 5.07 |
Every number, year by year.
Amounts in USD. Hover a ratioβs name for its definition.
In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.
| Fiscal year | FY23 | FY24 | FY25 |
|---|---|---|---|
| Income statement | |||
| Revenue | $201M | $227M | $241M |
| Gross profit | $140M | $167M | $186M |
| Research and development | $60.2M | $55.4M | $63.9M |
| Operating income | β$14.0M | $7.4M | $18.1M |
| Pretax income | β$12.5M | $13.3M | $22.5M |
| Income tax | $3.4M | β$2.5M | $2.5M |
| Net income | β$15.8M | $15.8M | $20.0M |
| Diluted EPS | β$0.09 | $0.08 | $0.11 |
| Diluted shares | 0.00B | 0.00B | 0.00B |
| Cash flow | |||
| Cash from operations | $5.4M | $26.0M | $33.4M |
| Capital expenditure | $0.5M | $2.1M | $1.0M |
| Free cash flow | $4.9M | $23.9M | $32.3M |
| Depreciation and amortization | $4.0M | $3.2M | $3.3M |
| Stock-based compensation | $15.6M | $16.9M | $17.2M |
| Acquisitions | $0.0M | $2.9M | $3.7M |
| Share buybacks | $35.2M | $11.2M | $59.1M |
| Dividends and buybacks | $35.2M | $11.2M | $59.1M |
| Balance sheet | |||
| Cash and short-term investments | β | $215M | $192M |
| Current assets | β | $285M | $268M |
| Current liabilities | β | $80.0M | $88.0M |
| Property and equipment, net | β | $3.0M | $3.2M |
| Goodwill | $21.8M | $22.2M | $26.3M |
| Intangible assets | β | $6.8M | $7.9M |
| Total assets | β | $362M | $347M |
| Total liabilities | β | $108M | $113M |
| Shareholders' equity | $239M | $254M | $233M |
| Margins | |||
| Gross margin | 69.6% | 73.7% | 77.5% |
| Operating margin | β7.0% | 3.3% | 7.5% |
| EBITDA margin | β5.0% | 4.7% | 8.9% |
| Net margin | β7.9% | 7.0% | 8.3% |
| FCF margin | 2.5% | 10.5% | 13.4% |
| Returns | |||
| Return on capital employed | β | 2.6% | 7.0% |
| Return on equity | β6.6% | 6.4% | 8.2% |
| Return on assets | β | 4.4% | 5.6% |
| Return on tangible equity | β7.3% | 7.0% | 10.0% |
| Growth | |||
| Revenue growth | β | 12.9% | 6.1% |
| Net income growth | β | β | 26.5% |
| EPS growth | β | β | 31.7% |
| FCF growth | β | 384.6% | 35.3% |
| Share count change | β | 3.2% | β3.7% |
| Financial health | |||
| Current ratio | β | 3.6x | 3.0x |
| Quick ratio | β | 3.6x | 3.0x |
| Capital allocation | |||
| Capex / revenue | 0.2% | 0.9% | 0.4% |
| Stock comp / revenue | 7.8% | 7.4% | 7.2% |
| Payouts / FCF | 714.7% | 46.9% | 182.8% |
| Quality scores | |||
| Piotroski F-score | β | β | 7.0 |
| Altman Z'' | β | 5.3 | 5.1 |
| Accruals ratio | β | β2.8% | β3.8% |
Source: SEC EDGAR XBRL filings (CIK 0001793663). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only β not investment advice. Check the original filings before relying on any figure.
