Vtex (VTEX) Gross Margin (2019 - 2026)
Vtex (VTEX) recorded quarterly Gross Margin of 79.83% in Q1 2026, little changed quarter-over-quarter from 79.46% in Q4 2025, and up 416.0% on a YoY basis from 15.47% in Q1 2025.
Vtex (VTEX) Gross Margin (2019 - 2026) Analysis & Trends
Vtex's Gross Margin history runs 8 years deep, the most recent figure standing at 79.83% for Q1 2026.
- In Q1 2026, Gross Margin rose 416.0% year-over-year to 79.83%; the TTM figure through Mar 2026 stood at 78.45% (up 392.0% YoY), while the FY2025 annual figure was 77.47%, up 381.0% from the prior year.
- Gross Margin was 79.83% for Q1 2026 at Vtex, roughly flat from 79.46% in the prior quarter.
- In the past five years, Gross Margin ranged from a high of 1099.84% in Q1 2023 to a low of 63.69% in Q1 2022.
- Historically, Gross Margin has averaged 190.17% across 5 years, with a median of 74.39% in 2024.
- The sharpest annual moves came in 2023 and 2024: Gross Margin soared 103615 bps in 2023, then sank 102789 bps in 2024.
- A 5-year view of Gross Margin shows it stood at 67.91% in 2022, then gained by 9 bps to 73.89% in 2023, then grew by 1 bps to 74.57% in 2024, then gained by 7 bps to 79.46% in 2025, then climbed by 0 bps to 79.83% in 2026.
- The last three Gross Margin figures came in at 79.83% (Q1 2026), 79.46% (Q4 2025), and 77.31% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Sap Se | 238.14 Bn | 220.17 Bn | 8.16 Bn | 72.98% |
| 2 | Full Truck Alliance | 166.83 Bn | 164.28 Bn | - | - |
| 3 | Uber Technologies | 150.36 Bn | 149.32 Bn | 11.88 Bn | 89.96% |
| 4 | Shopify | 147.75 Bn | 142.01 Bn | 1.55 Bn | 48.77% |
| 5 | Salesforce | 140.39 Bn | 128.55 Bn | 8.56 Bn | 76.92% |
| 6 | Cadence Design Systems | 105.73 Bn | 104.32 Bn | 1.26 Bn | 85.65% |
| 7 | ServiceNow | 105.42 Bn | 100.24 Bn | 2.83 Bn | 75.07% |
| 8 | Automatic Data Processing | 89.57 Bn | 86.34 Bn | 2.87 Bn | 48.28% |
| 9 | Adobe | 85.05 Bn | 78.16 Bn | 5.90 Bn | 89.20% |
| 10 | Vtex | 87.00 | -13.94 Mn | 48.45 Mn | 79.83% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 79.83% |
| Dec 31, 2025 | 79.46% |
| Sep 30, 2025 | 77.31% |
| Jun 30, 2025 | 77.01% |
| Mar 31, 2025 | 75.66% |
| Dec 31, 2024 | 74.57% |
| Sep 30, 2024 | 74.39% |
| Jun 30, 2024 | 73.54% |
| Mar 31, 2024 | 71.95% |
| Dec 31, 2023 | 73.89% |
| Sep 30, 2023 | 70.33% |
| Jun 30, 2023 | 1,039.82% |
| Mar 31, 2023 | 1,099.84% |
| Dec 31, 2022 | 67.91% |
| Sep 30, 2022 | 67.27% |
| Jun 30, 2022 | 66.41% |
| Mar 31, 2022 | 63.69% |
| Dec 31, 2021 | 62.93% |
| Sep 30, 2021 | 59.86% |
| Jun 30, 2021 | 60.42% |