Vtex - Class A

VTEX is a software-as-a-service digital commerce platform provider serving enterprise brands and retailers. The company operates a composable and complete platform that integrates commerce, marketplace, fulfillment channels, and order management solutions into a unified framework. VTEX has repositioned as an 'AI-native commerce suite' built around three core platforms: the VTEX Commerce Platform (B2C, B2B, marketplace, and OMS capabilities), the VTEX Ads Platform (retail media monetization and campaign management), and the VTEX CX Platform (AI agent-driven customer lifecycle management including WhatsApp Store and autonomous post-sales support). The platform is cloud-based and modular, enabling customers to adopt specific functionalities based on operational requirements. VTEX generates revenue primarily through a subscription model combining fixed fees and transaction-based fees tied to gross merchandise value (GMV), with subscription revenue accounting for 99.1% of total revenue. Transaction-based fees include commission fees charged to customers based on a percentage of GMV or a per-order fee, as well as fees from marketplace partners, payment providers, and app store services. Fixed subscription fees include yearly or multi-year upfront fees to reduce future variable fees and fixed monthly platform usage fees. The company serves more than 2,200 customers with over 3,100 active online stores across 44 countries, with approximately 88.9% of GMV coming from large enterprise customers generating more than $10 million in GMV per year. VTEX is listed on the NYSE and has significant operations across Latin America with expanding global presence. Approximately 77% of revenue is denominated in non-USD currencies, primarily Latin American currencies including the Brazilian real, Argentine peso, Colombian peso, Chilean peso, and Mexican peso. The company uses foreign exchange derivative products to hedge currency devaluation and hyperinflation risks. Updated Aug 6, 2026