Vtex (VTEX) Operating Expenses (2020 - 2026)
Vtex (VTEX) posted quarterly Operating Expenses of -$25.8 million for Q1 2026, down 6.18% year-over-year from -$27.5 million in Q1 2025, and down 2.85% quarter-over-quarter from -$25.1 million in Q4 2025.
Vtex (VTEX) Operating Expenses (2020 - 2026) Analysis & Trends
Vtex's Operating Expenses history runs 7 years deep, the most recent figure standing at -$25.8 million for Q1 2026.
- In Q1 2026, Operating Expenses fell 6.18% year-over-year to -$25.8 million; the TTM figure through Mar 2026 stood at -$202.3 million (up 17.41% YoY), while the FY2025 annual figure was -$99.6 million, down 9.47% from the prior year.
- Operating Expenses for Q1 2026 stood at -$25.8 million, down from -$25.1 million in the prior quarter.
- The five-year high for Operating Expenses was -$23.5 million in Q1 2023, with the low at -$113.4 million in Q3 2025.
- The 5-year median for Operating Expenses is -$37.6 million (2024), against an average of -$45.0 million.
- The sharpest annual moves came in 2024 and 2025: Operating Expenses sank 190.31% in 2024, then jumped 63.75% in 2025.
- Vtex's Operating Expenses stood at -$35.8 million in 2022, then declined by 7.82% to -$38.6 million in 2023, then tumbled by 79.53% to -$69.3 million in 2024, then surged by 63.75% to -$25.1 million in 2025, then slipped by 2.85% to -$25.8 million in 2026.
- Business Quant data shows VTEX's Operating Expenses at -$25.8 million in Q1 2026, -$25.1 million in Q4 2025, and -$113.4 million in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Sap Se | 255.48 Bn | 234.41 Bn | 16.51 Bn | -16.33 Bn |
| 2 | Shopify | 198.95 Bn | 194.00 Bn | 1.71 Bn | 1.22 Bn |
| 3 | Salesforce | 160.70 Bn | 148.86 Bn | 8.56 Bn | 6.22 Bn |
| 4 | Uber Technologies | 154.94 Bn | 149.73 Bn | 6.38 Bn | 12.30 Bn |
| 5 | ServiceNow | 128.25 Bn | 123.58 Bn | 2.82 Bn | 2.66 Bn |
| 6 | Snowflake | 114.00 Bn | 111.05 Bn | 926.45 Mn | 1.25 Bn |
| 7 | Automatic Data Processing | 108.58 Bn | 104.35 Bn | 2.51 Bn | 4.34 Bn |
| 8 | Adobe | 105.34 Bn | 99.72 Bn | 5.90 Bn | 3.67 Bn |
| 9 | Intuit | 94.55 Bn | 87.77 Bn | 7.24 Bn | 4.54 Bn |
| 10 | Vtex | 644.46 Mn | 450.82 Mn | 48.45 Mn | -25.84 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | -25.84 Mn |
| Dec 31, 2025 | -25.12 Mn |
| Sep 30, 2025 | -113.43 Mn |
| Jun 30, 2025 | -37.95 Mn |
| Mar 31, 2025 | -24.33 Mn |
| Dec 31, 2024 | -69.30 Mn |
| Sep 30, 2024 | -112.64 Mn |
| Jun 30, 2024 | -38.73 Mn |
| Mar 31, 2024 | -37.60 Mn |
| Dec 31, 2023 | -38.60 Mn |
| Sep 30, 2023 | -38.80 Mn |
| Jun 30, 2023 | -40.20 Mn |
| Mar 31, 2023 | -23.46 Mn |
| Dec 31, 2022 | -35.80 Mn |
| Sep 30, 2022 | -33.30 Mn |
| Jun 30, 2022 | -35.80 Mn |
| Mar 31, 2022 | -33.40 Mn |
| Dec 31, 2021 | -19.04 Mn |
| Sep 30, 2021 | -43.40 Mn |
| Jun 30, 2021 | -19.34 Mn |