Quarterly ResultMay 7, 2026, 04:08 PM
VTEX Q1 Non-GAAP Operating Income Doubles to $10.6M; FCF Doubles to $13.3M
AI Summary
VTEX reported strong first-quarter 2026 financial results, with non-GAAP income from operations doubling to $10.6 million and free cash flow also doubling to $13.3 million. The company's subscription revenue grew 14.0% to $60.0 million, driven by a 17.1% increase in GMV to $5.1 billion. VTEX emphasized its strategy of embedding AI at the core of its platform, evolving into an AI-native commerce suite, and announced a share buyback of $9.7 million. The company also provided positive guidance for Q2 and full-year 2026.
Key Highlights
- Non-GAAP income from operations doubled to $10.6 million, reaching a 17.4% margin.
- Non-GAAP free cash flow doubled to $13.3 million, reaching a 21.9% margin.
- Subscription revenue increased 14.0% YoY to $60.0 million (+4.2% FXN).
- GMV grew 17.1% YoY to $5.1 billion (+6.8% FXN).
- Non-GAAP subscription gross margin improved to 81.5% from 79.0% in Q1 2025.
- Repurchased 2.5 million Class A common shares for $9.7 million.
- Forecasts full-year 2026 non-GAAP operating income and free cash flow margins in the low-twenties percentage.