Vtex (VTEX) Gross Margin (2020 - 2026)
Vtex's (VTEX) quarterly Gross Margin came in at 79.83% in Q1 2026, up 416.0% year-on-year from 15.47% in Q1 2025, and up 0.52% quarter-over-quarter from 79.41% in Q4 2025.
Vtex (VTEX) Gross Margin (2020 - 2026) Analysis & Trends
Vtex's Gross Margin history runs 7 years deep, the most recent figure standing at 79.83% for Q1 2026.
- On a quarterly basis, Gross Margin rose 416.0% year-over-year to 79.83% in Q1 2026; TTM through Mar 2026 was 77.79%, a 414.0% increase from a year earlier, with the FY2025 full-year figure at 77.47%, up 381.0% from the prior year.
- Gross Margin advanced to 79.83% in Q1 2026 per VTEX's latest filing, from 79.41% in the prior quarter.
- Across five years, Gross Margin topped out at 79.83% in Q1 2026 and bottomed at 63.69% in Q1 2022.
- The 5-year median for Gross Margin is 73.32% (2024), against an average of 71.96%.
- Across the five-year window, Gross Margin surged 741 bps in 2022 and tumbled 35 bps in 2024, its largest moves.
- Year by year, Gross Margin stood at 67.91% in 2022, then grew by 8 bps to 73.68% in 2023, then decreased by 0 bps to 73.32% in 2024, then climbed by 8 bps to 79.41% in 2025, then increased by 1 bps to 79.83% in 2026.
- Per Business Quant, the three latest VTEX Gross Margin figures stand at 79.83% (Q1 2026), 79.41% (Q4 2025), and 76.69% (Q3 2025).
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Sap Se | 208.91 Bn | 189.27 Bn | 8.16 Bn | 72.98% |
| 2 | Full Truck Alliance | 188.77 Bn | 186.13 Bn | - | - |
| 3 | Shopify | 145.98 Bn | 140.23 Bn | 1.55 Bn | 48.77% |
| 4 | Uber Technologies | 141.48 Bn | 140.44 Bn | 5.95 Bn | 45.03% |
| 5 | Salesforce | 128.51 Bn | 116.67 Bn | 8.56 Bn | 76.92% |
| 6 | ServiceNow | 98.38 Bn | 93.20 Bn | 2.82 Bn | 70.68% |
| 7 | Automatic Data Processing | 97.56 Bn | 94.34 Bn | 2.87 Bn | 48.28% |
| 8 | Snowflake | 91.55 Bn | 88.59 Bn | 926.45 Mn | 66.61% |
| 9 | Cadence Design Systems | 89.91 Bn | 88.50 Bn | 1.41 Bn | 95.85% |
| 10 | Vtex | 668.59 Mn | 668.66 Mn | 48.45 Mn | 79.83% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 79.83% |
| Dec 31, 2025 | 79.41% |
| Sep 30, 2025 | 76.69% |
| Jun 30, 2025 | 77.04% |
| Mar 31, 2025 | 75.66% |
| Dec 31, 2024 | 73.32% |
| Sep 30, 2024 | 73.32% |
| Jun 30, 2024 | 73.63% |
| Mar 31, 2024 | 72.05% |
| Dec 31, 2023 | 73.68% |
| Sep 30, 2023 | 70.16% |
| Jun 30, 2023 | 67.65% |
| Mar 31, 2023 | 65.55% |
| 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% |