Vtex (VTEX) Research & Development (2020 - 2026)
Vtex (VTEX) posted quarterly Research & Development of -$17.2 million for Q1 2026, down 16.01% year-over-year from -$20.5 million in Q1 2025, and down 2.17% quarter-over-quarter from -$16.9 million in Q4 2025.
Vtex (VTEX) Research & Development (2020 - 2026) Analysis & Trends
Vtex's Research & Development history runs 7 years deep, the most recent figure standing at -$17.2 million for Q1 2026.
- In Q1 2026, Research & Development fell 16.01% year-over-year to -$17.2 million; the TTM figure through Mar 2026 stood at -$96.6 million (up 14.73% YoY), while the FY2025 annual figure was -$63.9 million, down 15.3% from the prior year.
- Research & Development for Q1 2026 stood at -$17.2 million, down from -$16.9 million in the prior quarter.
- The five-year high for Research & Development was -$13.8 million in Q3 2022, with the low at -$47.0 million in Q3 2025.
- The 5-year median for Research & Development is -$15.4 million (2022), against an average of -$20.1 million.
- The sharpest annual moves came in 2024 and 2025: Research & Development tumbled 191.76% in 2024, then soared 59.82% in 2025.
- Vtex's Research & Development stood at -$14.1 million in 2022, then fell by 2.13% to -$14.4 million in 2023, then sank by 191.76% to -$42.0 million in 2024, then jumped by 59.82% to -$16.9 million in 2025, then decreased by 2.17% to -$17.2 million in 2026.
- Business Quant data shows VTEX's Research & Development at -$17.2 million in Q1 2026, -$16.9 million in Q4 2025, and -$47.0 million in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Sap Se | 255.48 Bn | 234.41 Bn | 16.51 Bn | -4.12 Bn |
| 2 | Shopify | 198.95 Bn | 194.00 Bn | 1.71 Bn | 498.00 Mn |
| 3 | Salesforce | 160.70 Bn | 148.86 Bn | 8.56 Bn | 3.77 Bn |
| 4 | Uber Technologies | 154.94 Bn | 149.73 Bn | 6.38 Bn | 1.52 Bn |
| 5 | ServiceNow | 128.25 Bn | 123.58 Bn | 2.82 Bn | 1.37 Bn |
| 6 | Snowflake | 114.00 Bn | 111.05 Bn | 926.45 Mn | 588.95 Mn |
| 7 | Automatic Data Processing | 108.58 Bn | 104.35 Bn | 2.51 Bn | 265.90 Mn |
| 8 | Adobe | 105.34 Bn | 99.72 Bn | 5.90 Bn | 1.88 Bn |
| 9 | Intuit | 94.55 Bn | 87.77 Bn | 7.24 Bn | 1.79 Bn |
| 10 | Vtex | 644.46 Mn | 450.82 Mn | 48.45 Mn | -17.25 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | -17.25 Mn |
| Dec 31, 2025 | -16.88 Mn |
| Sep 30, 2025 | -47.01 Mn |
| Jun 30, 2025 | -15.42 Mn |
| Mar 31, 2025 | -14.87 Mn |
| Dec 31, 2024 | -42.01 Mn |
| Sep 30, 2024 | -42.01 Mn |
| Jun 30, 2024 | -14.34 Mn |
| Mar 31, 2024 | -14.00 Mn |
| Dec 31, 2023 | -14.40 Mn |
| Sep 30, 2023 | -15.80 Mn |
| Jun 30, 2023 | -16.30 Mn |
| Mar 31, 2023 | -14.78 Mn |
| Dec 31, 2022 | -14.10 Mn |
| Sep 30, 2022 | -13.80 Mn |
| Jun 30, 2022 | -15.40 Mn |
| Mar 31, 2022 | -13.90 Mn |
| Dec 31, 2021 | -11.92 Mn |
| Sep 30, 2021 | -14.18 Mn |
| Jun 30, 2021 | -10.67 Mn |