Brazil's VTEX Q1 revenue slightly misses estimates

Vtex

07/05/2026 21:19

Overview

Brazil commerce platform's Q1 revenue rose 12%, a slight miss versus analyst expectations

Non-GAAP income from operations doubled yr/yr to $10.6 mln

Company repurchased 2.5 mln shares for $9.7 mln in Q1

Outlook

VTEX targets Q2 subscription revenue growth at low-to-mid single digit percentage FX-neutral YoY rate

Company sees Q2 non-GAAP income from operations margin in high-teens to low-twenties percentage

VTEX expects 2026 subscription revenue to grow at mid-single digit percentage FX-neutral YoY rate

Result Drivers

AI-NATIVE PLATFORM - Co said embedding AI across its suite drove operational efficiency and new revenue streams for customers

CUSTOMER EXPANSION - New customer wins and expanded deployments with existing clients, including launches of B2B and marketplace channels, contributed to growth

FX IMPACT - Reported growth rates were higher than FX-neutral rates, indicating currency effects boosted headline results

Company press release: ID:nBw8P130ka

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Slight Miss*
$60.70 mln
$60.79 mln (6 Analysts)
Q1 Adjusted Free Cash Flow
$13.30 mln
Q1 Adjusted Income from Operations
$10.60 mln
Q1 GMV
$5.10 bln


*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the software peer group is "buy"

Wall Street's median 12-month price target for VTEX is $5.00, about 29.9% above its May 6 closing price of $3.85

The stock recently traded at 19 times the next 12-month earnings vs. a P/E of 18 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)