Vtex (VTEX) Cost of Revenue (2019 - 2026)
Vtex (VTEX) posted Cost of Revenue of $12.7 million for Q2 2026, up 3.89% on a QoQ basis from $12.2 million in Q1 2026, and down 6.2% year-over-year from $13.5 million in Q2 2025.
Analysis
Vtex (VTEX) Cost of Revenue (2019 - 2026) Analysis & Trends
Vtex has reported Cost of Revenue for 8 years, with the latest figure at $12.7 million in Q2 2026.
- On a quarterly basis, Cost of Revenue fell 6.2% year-over-year to $12.7 million in Q2 2026; TTM through Jun 2026 was $79.1 million, a 31.12% decrease from a year earlier, with the FY2025 full-year figure at $54.2 million, down 9.25% from the prior year.
- Cost of Revenue was $12.7 million for Q2 2026 at Vtex, up from $12.2 million in the prior quarter.
- The five-year high for Cost of Revenue was $44.1 million in Q3 2024, with the low at $12.2 million in Q1 2026.
- Average Cost of Revenue over 5 years is $18.7 million, with a median of $14.6 million recorded in 2022.
- The sharpest annual moves came in 2022 and 2024: Cost of Revenue plunged 70.56% in 2022, then soared 193.75% in 2024.
- Over 5 years, Cost of Revenue stood at $14.6 million in 2022, then gained by 8.9% to $15.9 million in 2023, then surged by 177.13% to $44.1 million in 2024, then tumbled by 68.23% to $14.0 million in 2025, then fell by 9.46% to $12.7 million in 2026.
- The last three Cost of Revenue figures came in at $12.7 million (Q2 2026), $12.2 million (Q1 2026), and $14.0 million (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Shopify | 187.92 Bn | 182.98 Bn | 1.71 Bn | 1.88 Bn |
| 2 | Global-E Online | 6.49 Bn | 6.13 Bn | 131.87 Mn | 167.13 Mn |
| 3 | Vtex | 624.51 Mn | 438.62 Mn | 51.71 Mn | 12.68 Mn |
| 4 | Rezolve Ai | 359.91 Mn | 248.80 Mn | - | - |
| 5 | Commerce.com | 212.95 Mn | 56.62 Mn | 63.53 Mn | 20.98 Mn |
| 6 | Baozun | 154.04 Mn | -65.26 Mn | 302.56 Mn | 100.63 Mn |
| 7 | BeLive Holdings | 23.36 Mn | 16.74 Mn | - | - |
| 8 | Paid | 20.26 Mn | 19.18 Mn | 1.22 Mn | 4.64 Mn |
| 9 | Caro Holdings | 11.71 Mn | 11.71 Mn | - | - |
| 10 | My Size | 1.36 Mn | 650,132.45 | 973,000.00 | 2.10 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 12.68 Mn |
| Mar 31, 2026 | 12.20 Mn |
| Dec 31, 2025 | 14.00 Mn |
| Sep 30, 2025 | 40.22 Mn |
| Jun 30, 2025 | 13.51 Mn |
| Mar 31, 2025 | 13.20 Mn |
| Dec 31, 2024 | 44.06 Mn |
| Sep 30, 2024 | 44.06 Mn |
| Jun 30, 2024 | 15.00 Mn |
| Mar 31, 2024 | 14.80 Mn |
| Dec 31, 2023 | 15.90 Mn |
| Sep 30, 2023 | 15.00 Mn |
| Jun 30, 2023 | 15.40 Mn |
| Mar 31, 2023 | 14.57 Mn |
| Dec 31, 2022 | 14.60 Mn |
| Sep 30, 2022 | 12.60 Mn |
| Jun 30, 2022 | 13.00 Mn |
| Mar 31, 2022 | 12.60 Mn |
| Dec 31, 2021 | 49.59 Mn |
| Sep 30, 2021 | 12.79 Mn |