Vtex (VTEX) Gross Margin (2019 - 2026)
Vtex (VTEX) posted Gross Margin of 80.31% for Q2 2026, up 0.52% on a QoQ basis from 79.9% in Q1 2026, and up 330.0% year-over-year from 18.68% in Q2 2025.
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Analysis
Vtex (VTEX) Gross Margin (2019 - 2026) Analysis & Trends
Vtex has reported Gross Margin for 8 years, with the latest figure at 80.31% in Q2 2026.
- On a quarterly basis, Gross Margin rose 330.0% year-over-year to 80.31% in Q2 2026; TTM through Jun 2026 was 78.37%, a 427.0% increase from a year earlier, with the FY2025 full-year figure at 77.47%, up 381.0% from the prior year.
- Gross Margin was 80.31% for Q2 2026 at Vtex, up from 79.9% in the prior quarter.
- The five-year high for Gross Margin was 1099.84% in Q1 2023, with the low at 63.69% in Q1 2022.
- Average Gross Margin over 5 years is 129.88%, with a median of 73.47% recorded in 2024.
- The sharpest annual moves came in 2023 and 2024: Gross Margin jumped 103615 bps in 2023, then plunged 102779 bps in 2024.
- Over 5 years, Gross Margin stood at 67.91% in 2022, then increased by 8 bps to 73.68% in 2023, then slipped by 0 bps to 73.32% in 2024, then grew by 8 bps to 79.41% in 2025, then advanced by 1 bps to 80.31% in 2026.
- The last three Gross Margin figures came in at 80.31% (Q2 2026), 79.9% (Q1 2026), and 79.41% (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Shopify | 187.92 Bn | 182.98 Bn | 1.71 Bn | 47.67% |
| 2 | Global-E Online | 6.49 Bn | 6.13 Bn | 131.87 Mn | 44.10% |
| 3 | Vtex | 624.51 Mn | 438.62 Mn | 51.71 Mn | 80.31% |
| 4 | Rezolve Ai | 359.91 Mn | 248.80 Mn | - | - |
| 5 | Commerce.com | 212.95 Mn | 56.62 Mn | 63.53 Mn | 75.17% |
| 6 | Baozun | 154.04 Mn | -65.26 Mn | 302.56 Mn | 74.84% |
| 7 | BeLive Holdings | 23.36 Mn | 16.74 Mn | - | - |
| 8 | Paid | 20.26 Mn | 19.18 Mn | 1.22 Mn | 20.88% |
| 9 | Caro Holdings | 11.71 Mn | 11.71 Mn | - | - |
| 10 | My Size | 1.36 Mn | 650,132.45 | 973,000.00 | 31.69% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 80.31% |
| Mar 31, 2026 | 79.90% |
| Dec 31, 2025 | 79.41% |
| Sep 30, 2025 | 76.69% |
| Jun 30, 2025 | 77.01% |
| Mar 31, 2025 | 75.65% |
| 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 | 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 | 319.64% |
| Sep 30, 2021 | 59.86% |