VTEX (VTEX)
Runs the online stores of enterprise retailers across Latin America and beyond.
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Provides a multi-tenant software platform that enterprise brands and retailers use to run online stores, order management, and marketplaces, sold as a subscription with a fee that scales alongside each customer's sales volume. Revenue concentrates in Brazil and the rest of Latin America, with a smaller share from operations elsewhere.
Runs a multi-tenant SaaS platform that enterprise brands and retailers use for online stores, order management, and marketplaces, built to let customers integrate outside modules while keeping a single native suite. Origins trace to a 2000 Rio de Janeiro textile-procurement startup redirected by a 2007 Walmart Brazil contract.
Revenue concentrates in Brazil, with the rest of Latin America and a smaller international base filling out the total; roughly 2,400 brands run stores on the platform across dozens of countries, and subscription fees—fixed plus a share of each merchant's sales—make up nearly all revenue.
Recent expansion targets artificial intelligence, retail media, and business commerce, reinforced by a 2024 acquisition of a Brazilian conversational-AI vendor kept as a standalone unit. The two founders have led as co-CEOs since before the 2021 New York Stock Exchange listing.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Aug 27, 2026 | Morgan Stanley | Target | Target: — | Target: $4 |
| Aug 27, 2026 | Jefferies | Reiterate | Rating: —Target: $6.50 | Target: $5.10 |
| Aug 25, 2026 | Itau BBA | Downgrade | ||
| Aug 7, 2026 | Bradesco | Downgrade | Rating: —Target: — | Target: $4.50 |
| May 8, 2026 | UBS | Reiterate | Rating: —Target: $4 | Target: $4.10 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $186.0M · Total debt $7.1M · Total assets $340.5M · Shareholders' equity $223.9M
- Revenue
- $64.4M
- Operating income
- $9.7M
- Net income
- $10.0M
No dividends on record.
| Institutions | 35.92% | 62.14M ADS | |
|---|---|---|---|
| 108 holders · as of Jun 30, 2026 | |||
| Insiders | 21.50% | 37.19M ADS | |
| 8 holders · as of Sep 17, 2026 | |||
| Strategic holders | 39.72% | 68.72M ADS | |
| 3 holders · as of Mar 30, 2022 | |||
| Other | 2.86% | 4.94M ADS | |
| remainder | |||
172.99M ADS as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
This company has 2 share classes; every stake here is a share of the whole company.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
SoftBank Group Corp.Institution | 22.22% | 38.43M A ADS | as of Jun 30, 2026 |
Carmo Thomaz Junior Geraldo doInsiderofficer: Chief Executive Officer | 18.96% | 1.26M A ordinary · 31.54M B ordinary | filed Aug 28, 2026 |
Abrolhos One LimitedStrategic | 18.59% | 32.15M | filed Feb 14, 2022 |
MGF TrustStrategic | 18.59% | 32.15M | filed Mar 30, 2022 |
GIC Private LimitedStrategic | 2.55% | 4.41M | filed Nov 26, 2021 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 16, 2026 | Andre Spolidoro Ferreira Gomes | officer: Chief Strategy Officer | −6,000 | $3.68 |
| Aug 24, 2026 | Alejandro Raul Scannapieco | director | −11,994 | $3.67 |
| Aug 18, 2026 | Carmo Thomaz Junior Geraldo do | officer: Chief Executive Officer | −43,203 | $3.52 |
| Aug 17, 2026 | Carmo Thomaz Junior Geraldo do | officer: Chief Executive Officer | −76,797 | $3.58 |
| Aug 18, 2026 | de Faria Mariano Gomide | officer: Chief Executive Officer | −43,203 | $3.52 |
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Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| VTEX | $3.65 | +1.67% | $635.3M | 21.1 | 16.0 | 2.5 | +9.5% |
| Salesforce | $232.86 | −1.51% | $193.63B | 21.6 | 15.9 | 4.4 | +10.8% |
| Adobe | $238.44 | −4.44% | $99.18B | 13.9 | 8.9 | 3.8 | +12.9% |
| SAP (ADR) | $211.26 | +0.98% | $243.79B | 26.8 | 23.1 | 5.6 | +5.8% |
| Shopify | $148.90 | +7.96% | $178.97B | 92.6 | 71.6 | 13.5 | +32.0% |
| Commerce.com | $3.38 | +1.35% | $274.8M | — | 8.2 | 0.8 | +0.1% |
| MercadoLibre | $1,841.03 | +1.13% | $92.29B | 49.5 | 42.7 | 2.6 | +50.2% |
| Median | 26.8 | 19.5 | 4.1 | +11.9% |