VTEX (VTEX) financial statements
VTEX reported revenue of $241M in fiscal 2025, up 25.6% a year over 6 years.
Net income was $20M and the operating margin 7.5%, against -2.9% in 2019.
Free cash flow was $32M, and the company returned $59M in net buybacks.
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from VTEX's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenue | $61M | $99M | $126M | $158M | $201M | $227M | $241M |
| Cost of revenue | $20M | $35M | $50M | $53M | $61M | $60M | $54M |
| Gross profit | $41M | $64M | $76M | $105M | $140M | $167M | $186M |
| Research and development | $13M | $19M | $45M | $57M | $60M | $55M | $64M |
| Selling, general and admin | $11M | $14M | $32M | $28M | $92M | $103M | $103M |
| Operating income | -$2M | $7M | -$66M | -$50M | -$14M | $7M | $18M |
| Interest expense | $3M | $208,000 | $94,000 | $62,000 | $4,000 | $0 | — |
| Pre-tax income | -$4M | $3M | -$70M | -$56M | -$12M | $13M | $22M |
| Income tax | $883,000 | $4M | -$9M | -$4M | $3M | -$3M | $2M |
| Net income | -$5M | -$914,000 | -$61M | -$52M | -$16M | $16M | $20M |
| EPS (diluted) | — | -$0.01 | -$0.33 | -$0.28 | -$0.09 | $0.08 | $0.11 |
| Diluted shares | — | — | 182M | 191M | 186M | 192M | 185M |
| Gross margin | 67.0% | 64.7% | 60.6% | 66.5% | 69.6% | 73.7% | 77.5% |
| Operating margin | -2.9% | 6.6% | -52.4% | -31.7% | -7.0% | 3.3% | 7.5% |
| Net margin | -7.5% | -0.9% | -48.1% | -33.3% | -7.9% | 7.0% | 8.3% |
Balance sheet
Fiscal years, from VTEX's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $30M | $76M | $298M | $239M | $209M | $215M | $192M |
| Receivables | — | $24M | $35M | $37M | $44M | $53M | $62M |
| Total current assets | — | $109M | $350M | $287M | $266M | $285M | $268M |
| Property, plant and equipment | $5M | $5M | $5M | $4M | $3M | $3M | $3M |
| Goodwill | — | — | — | — | $22M | $22M | $26M |
| Total assets | — | $140M | $415M | $358M | $341M | $362M | $347M |
| Total current liabilities | — | $47M | $59M | $62M | $77M | $80M | $88M |
| Long-term debt | — | $5M | $1M | $0 | — | — | — |
| Total liabilities | — | $64M | $88M | $83M | $101M | $108M | $113M |
| Shareholders' equity | $47M | $76M | $327M | $275M | $239M | $254M | $233M |
| Net debt | -$30M | -$52M | -$118M | -$23M | -$28M | -$19M | -$16M |
Cash flow
Fiscal years, from VTEX's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | $2M | $11M | -$53M | -$29M | $5M | $26M | $33M |
| Capital spending | $2M | $2M | $2M | $340,000 | $477,000 | $2M | $1M |
| Free cash flow | $239,000 | $10M | -$55M | -$30M | $5M | $24M | $32M |
| Stock-based compensation | $744,000 | $3M | $9M | $12M | $16M | $17M | $17M |
| Dividends paid | $1M | $0 | $0 | — | — | — | — |
| Share buybacks (net) | — | — | — | — | -$35M | -$11M | -$59M |
| Net borrowing | $6M | -$3M | -$11M | -$3M | -$1M | -$71,000 | — |
| Free cash flow margin | 0.4% | 9.6% | -43.5% | -18.8% | 2.5% | 10.5% | 13.4% |
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Open VTEX in InvestinglyQuestions
What was VTEX's revenue in 2025?
$241M in fiscal 2025, from its 10-K filing.
How much free cash flow does VTEX generate?
$32M in fiscal 2025 (operating cash flow minus capital spending).
From VTEX's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.