Vtex (VTEX) Cost of Revenue (2020 - 2026)
Vtex's Cost of Revenue came in at $1.03 million for Q2 2026, down 46.5% from $1.92 million a year earlier and down 6.8% from the prior quarter.
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Analysis
Vtex (VTEX) Cost of Revenue (2020 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, Vtex reported Cost of Revenue of $9.91 million, down 39.2% year-over-year; for FY2025, it was $7.79 million, down 36.3% from FY2024.
- Cost of Revenue has declined in each of the last three years, with a five-year compound annual growth rate of -25.9% (FY2020 to FY2025).
- Going back by year, Cost of Revenue was $12.23 million in FY2024 (-21.2%), $15.52 million in FY2023 (-70.6%), $52.83 million in FY2022 (+6.5%) and $49.59 million in FY2021 (+42.3%).
- The Q2 2026 figure represents the lowest quarterly Cost of Revenue since Q3 2019.
- Year-over-year, Cost of Revenue has declined for seven consecutive quarters, with an average decline of 13.3% over the last eight quarters.
- The fastest year-over-year change in Cost of Revenue over five years came in Q3 2024 (growth of 142.3%), and the weakest in Q4 2022 (a decline of 93.7%).
- Business Quant data shows VTEX's Cost of Revenue at $1.1 million (Q1 2026), $1.8 million (Q4 2025) and $5.98 million (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 4,248.48 Bn | 4,006.00 Bn | 73.85 Bn | 45.94 Bn |
| 2 | Meta Platforms | 1,873.50 Bn | 1,576.02 Bn | 49.47 Bn | 11.33 Bn |
| 3 | Netflix | 304.25 Bn | 264.45 Bn | 6.52 Bn | 6.04 Bn |
| 4 | Alibaba Group Holding | 257.83 Bn | 71.60 Bn | 15.11 Bn | 24.48 Bn |
| 5 | Shopify | 230.63 Bn | 207.82 Bn | 1.71 Bn | 1.88 Bn |
| 6 | Uber Technologies | 145.10 Bn | 116.90 Bn | 6.38 Bn | 7.82 Bn |
| 7 | Booking Holdings | 127.39 Bn | 60.44 Bn | - | - |
| 8 | PDD Holdings | 115.26 Bn | -128.52 Bn | 9.45 Bn | 7.08 Bn |
| 9 | Spotify Technology | 109.42 Bn | 66.92 Bn | 1.86 Bn | 3.70 Bn |
| 10 | Vtex | 760.70 Mn | -13.61 Mn | 51.71 Mn | 12.68 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 | 13.50 Mn |
| Jun 30, 2025 | 13.51 Mn |
| Mar 31, 2025 | 13.20 Mn |
| Dec 31, 2024 | 15.60 Mn |
| Sep 30, 2024 | 14.30 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 | 14.59 Mn |
| Sep 30, 2022 | 12.63 Mn |
| Jun 30, 2022 | 13.01 Mn |
| Mar 31, 2022 | 12.60 Mn |
| Dec 31, 2021 | 13.76 Mn |
| Sep 30, 2021 | 12.79 Mn |
API Access
Vtex Cost of Revenue API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=VTEX&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "cost-of-revenue", "ticker": "VTEX", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=VTEX&period=max&api_key=YOUR_API_KEY");
const data = await res.json();