Vtex (VTEX) Operating Expenses (2019 - 2026)
Vtex (VTEX) posted Operating Expenses of -$26.7 million for Q2 2026, down 5.11% on a QoQ basis from -$25.4 million in Q1 2026, and down 9.24% year-over-year from -$29.4 million in Q2 2025.
Analysis
Vtex (VTEX) Operating Expenses (2019 - 2026) Analysis & Trends
Vtex has reported Operating Expenses for 8 years, with the latest figure at -$26.7 million in Q2 2026.
- On a quarterly basis, Operating Expenses fell 9.24% year-over-year to -$26.7 million in Q2 2026; TTM through Jun 2026 was -$150.0 million, a 19.13% increase from a year earlier, with the FY2025 full-year figure at -$96.2 million, down 8.79% from the prior year.
- Operating Expenses was -$26.7 million for Q2 2026 at Vtex, down from -$25.4 million in the prior quarter.
- The five-year high for Operating Expenses was -$20.7 million in Q3 2022, with the low at -$73.2 million in Q3 2025.
- Average Operating Expenses over 5 years is -$31.2 million, with a median of -$23.8 million recorded in 2023.
- The sharpest annual moves came in 2022 and 2024: Operating Expenses jumped 77.78% in 2022, then sank 202.1% in 2024.
- Over 5 years, Operating Expenses stood at -$21.2 million in 2022, then fell by 7.08% to -$22.7 million in 2023, then tumbled by 202.1% to -$68.6 million in 2024, then soared by 63.98% to -$24.7 million in 2025, then retreated by 8.09% to -$26.7 million in 2026.
- The last three Operating Expenses figures came in at -$26.7 million (Q2 2026), -$25.4 million (Q1 2026), and -$24.7 million (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Shopify | 187.92 Bn | 182.98 Bn | 1.71 Bn | 1.22 Bn |
| 2 | Global-E Online | 6.49 Bn | 6.13 Bn | 131.87 Mn | 87.19 Mn |
| 3 | Vtex | 624.51 Mn | 438.62 Mn | 51.71 Mn | -26.70 Mn |
| 4 | Rezolve Ai | 359.91 Mn | 248.80 Mn | - | - |
| 5 | Commerce.com | 212.95 Mn | 56.62 Mn | 63.53 Mn | 60.83 Mn |
| 6 | Baozun | 154.04 Mn | -65.26 Mn | 302.56 Mn | -394.92 Mn |
| 7 | BeLive Holdings | 23.36 Mn | 16.74 Mn | - | - |
| 8 | Paid | 20.26 Mn | 19.18 Mn | 1.22 Mn | 1.25 Mn |
| 9 | Caro Holdings | 11.71 Mn | 11.71 Mn | - | 161,540.00 |
| 10 | My Size | 1.36 Mn | 650,132.45 | 973,000.00 | 2.70 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -26.70 Mn |
| Mar 31, 2026 | -25.40 Mn |
| Dec 31, 2025 | -24.70 Mn |
| Sep 30, 2025 | -73.21 Mn |
| Jun 30, 2025 | -24.44 Mn |
| Mar 31, 2025 | -23.90 Mn |
| Dec 31, 2024 | -68.58 Mn |
| Sep 30, 2024 | -68.58 Mn |
| Jun 30, 2024 | -23.70 Mn |
| Mar 31, 2024 | -22.80 Mn |
| Dec 31, 2023 | -22.70 Mn |
| Sep 30, 2023 | -23.80 Mn |
| Jun 30, 2023 | -24.80 Mn |
| Mar 31, 2023 | -22.71 Mn |
| Dec 31, 2022 | -21.20 Mn |
| Sep 30, 2022 | -20.70 Mn |
| Jun 30, 2022 | -22.80 Mn |
| Mar 31, 2022 | -20.80 Mn |
| Dec 31, 2021 | -95.41 Mn |
| Sep 30, 2021 | -43.40 Mn |