Vtex (VTEX) Gross Margin (2020 - 2026)
Vtex (VTEX) posted quarterly Gross Margin of 79.83% for Q1 2026, up 416.0% year-over-year from 15.47% in Q1 2025, and little changed quarter-over-quarter from 79.46% 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.
- In Q1 2026, Gross Margin rose 416.0% year-over-year to 79.83%; the TTM figure through Mar 2026 stood at 77.79% (up 416.0% YoY), while the FY2025 annual figure was 77.47%, up 381.0% from the prior year.
- Gross Margin for Q1 2026 stood at 79.83%, roughly flat from 79.46% in the prior quarter.
- The five-year high for Gross Margin was 79.83% in Q1 2026, with the low at 63.69% in Q1 2022.
- The 5-year median for Gross Margin is 73.32% (2024), against an average of 71.95%.
- The sharpest annual moves came in 2022 and 2024: Gross Margin surged 741 bps in 2022, then slumped 35 bps in 2024.
- Vtex's Gross Margin stood at 67.91% in 2022, then climbed by 8 bps to 73.68% in 2023, then retreated by 0 bps to 73.32% in 2024, then advanced by 8 bps to 79.46% in 2025, then advanced by 0 bps to 79.83% in 2026.
- Business Quant data shows VTEX's Gross Margin at 79.83% in Q1 2026, 79.46% in Q4 2025, and 76.69% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Sap Se | 255.48 Bn | 234.41 Bn | 16.51 Bn | 73.08% |
| 2 | Shopify | 198.95 Bn | 194.00 Bn | 1.71 Bn | 47.67% |
| 3 | Salesforce | 160.70 Bn | 148.86 Bn | 8.56 Bn | 76.92% |
| 4 | Uber Technologies | 154.94 Bn | 149.73 Bn | 6.38 Bn | 44.93% |
| 5 | ServiceNow | 128.25 Bn | 123.58 Bn | 2.82 Bn | 70.68% |
| 6 | Snowflake | 114.00 Bn | 111.05 Bn | 926.45 Mn | 66.61% |
| 7 | Automatic Data Processing | 108.58 Bn | 104.35 Bn | 2.51 Bn | 45.88% |
| 8 | Adobe | 105.34 Bn | 99.72 Bn | 5.90 Bn | 89.20% |
| 9 | Intuit | 94.55 Bn | 87.77 Bn | 7.24 Bn | 84.61% |
| 10 | Vtex | 644.46 Mn | 450.82 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 | 76.69% |
| Jun 30, 2025 | 77.01% |
| Mar 31, 2025 | 75.66% |
| Dec 31, 2024 | 73.32% |
| Sep 30, 2024 | 73.32% |
| Jun 30, 2024 | 73.54% |
| 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% |