Vtex (VTEX) Research & Development (2019 - 2026)
Vtex (VTEX) recorded quarterly Research & Development of -$17.2 million in Q1 2026, down 2.17% quarter-over-quarter from -$16.9 million in Q4 2025, and down 16.01% on a YoY basis from -$20.5 million in Q1 2025.
Vtex (VTEX) Research & Development (2019 - 2026) Analysis & Trends
Vtex's Research & Development history runs 8 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 -$66.3 million (down 17.66% YoY), while the FY2025 annual figure was -$63.9 million, down 15.3% from the prior year.
- Research & Development was -$17.2 million for Q1 2026 at Vtex, down from -$16.9 million in the prior quarter.
- In the past five years, Research & Development ranged from a high of -$13.4 million in Q4 2024 to a low of -$60.2 million in Q4 2023.
- Historically, Research & Development has averaged -$17.6 million across 5 years, with a median of -$14.9 million in 2025.
- The sharpest annual moves came in 2023 and 2024: Research & Development plunged 326.99% in 2023, then jumped 77.75% in 2024.
- A 5-year view of Research & Development shows it stood at -$14.1 million in 2022, then tumbled by 326.99% to -$60.2 million in 2023, then surged by 77.75% to -$13.4 million in 2024, then decreased by 26.0% to -$16.9 million in 2025, then slipped by 2.17% to -$17.2 million in 2026.
- The last three Research & Development figures came in at -$17.2 million (Q1 2026), -$16.9 million (Q4 2025), and -$16.7 million (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Sap Se | 238.14 Bn | 220.17 Bn | 8.16 Bn | -1.99 Bn |
| 2 | Full Truck Alliance | 166.83 Bn | 164.28 Bn | - | -37.02 Mn |
| 3 | Uber Technologies | 150.36 Bn | 149.32 Bn | 11.88 Bn | 951.00 Mn |
| 4 | Shopify | 147.75 Bn | 142.01 Bn | 1.55 Bn | 437.00 Mn |
| 5 | Salesforce | 140.39 Bn | 128.55 Bn | 8.56 Bn | 1.63 Bn |
| 6 | Cadence Design Systems | 105.73 Bn | 104.32 Bn | 1.26 Bn | 508.44 Mn |
| 7 | ServiceNow | 105.42 Bn | 100.24 Bn | 2.83 Bn | 823.00 Mn |
| 8 | Automatic Data Processing | 89.57 Bn | 86.34 Bn | 2.87 Bn | 253.90 Mn |
| 9 | Adobe | 85.05 Bn | 78.16 Bn | 5.90 Bn | 1.20 Bn |
| 10 | Vtex | 87.00 | -13.94 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 | -16.73 Mn |
| Jun 30, 2025 | -15.42 Mn |
| Mar 31, 2025 | -14.87 Mn |
| Dec 31, 2024 | -13.40 Mn |
| Sep 30, 2024 | -13.72 Mn |
| Jun 30, 2024 | -14.34 Mn |
| Mar 31, 2024 | -13.96 Mn |
| Dec 31, 2023 | -60.21 Mn |
| Sep 30, 2023 | -15.51 Mn |
| Jun 30, 2023 | -16.31 Mn |
| Mar 31, 2023 | -13.96 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 |