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VTEX (NYSE: VTEX) is a leading global provider of e-commerce and omnichannel solutions, leveraging its software-as-a-service (SaaS) platform to empower enterprise brands and retailers. Founded in 2000, VTEX offers a comprehensive suite of tools that enable customers to execute their commerce strategies effectively. This includes building online stores, integrating and managing orders across various channels, and creating marketplaces to support third-party vendor sales.
Recognized globally by analysts from Gartner and Forrester, VTEX is considered a vanguard in digital commerce technology. The company prides itself on its single-code, multi-tenant, scalable, and extensible platform, which facilitates high innovation capacity and quick time-to-market for CIOs and business users alike.
VTEX serves over 2,600 customers across 43 countries, including notable brands like Whirlpool, Electrolux, C&A, Disney, Sony, and Lego. These clients rely on VTEX to streamline their online sales and enhance customer experiences. VTEX's recent efforts have focused on global expansion and technological innovation, as evidenced by their semi-annual product showcase, 'VTEX Vision'. This event highlights new features and updates designed to help businesses navigate economic challenges and improve their digital commerce capabilities.
The company’s platform generates the majority of its revenue from Brazil, followed by other regions in Latin America and around the world. VTEX continues to innovate with new products like the VTEX Ad Network, which offers AI-driven ad optimization, and integrations with popular messaging platforms like WhatsApp for personalized sales conversion.
Additionally, VTEX recently announced a partnership with Pinterest to enhance its social commerce capabilities, allowing brands to connect with a wider audience and integrate their product catalogs seamlessly. VTEX's commitment to security is evident in features like VTEX Shield, which provides advanced threat detection and proactive monitoring to safeguard online stores.
Overall, VTEX's emphasis on practical composability, customer-centric innovations, and robust security measures make it a valuable partner for enterprises looking to modernize their e-commerce operations and achieve sustainable growth.
VTEX (NYSE: VTEX) reported strong Q2 2024 financial results, showcasing profitable growth and global expansion. Key highlights include:
- Total revenue increased 18.1% YoY to $56.5 million
- Subscription revenue grew 20.6% YoY to $54.0 million
- Non-GAAP operating income reached $6.4 million, up from a $1.5 million loss in Q2 2023
- Non-GAAP free cash flow was positive at $3.2 million
- GMV reached $4.4 billion, up 15.6% YoY
VTEX expanded its customer base globally, adding new clients in Australia, Brazil, Mexico, Portugal, and the US. The company also saw existing customers expand their operations across multiple countries. VTEX's focus on innovation and operational efficiency has led to eight consecutive quarters of double-digit YoY operating margin expansion.
VTEX (NYSE: VTEX), a leading composable and complete commerce platform for premier brands and retailers, has announced that it will release its second quarter 2024 financial results on August 6th, 2024, at 4:30 pm Eastern Time. The company will host a conference call and audio webcast to discuss the results.
Investors and interested parties can access the conference call by dialing +1-646-968-2525 (Conference ID: 1918046) and requesting inclusion in the call for VTEX. Additionally, a live audio webcast will be available on the investor relations section of the VTEX website. An archived replay of the webcast will be accessible following the conclusion of the call.
VTEX (NYSE: VTEX), a leading digital commerce platform, has partnered with H Mart, the largest Asian-American supermarket chain in the U.S., to modernize its ecommerce operations. Collaborating with VML, a global creative agency, VTEX completed the migration from H Mart's legacy system to a new SaaS platform in just seven months. The platform now supports consolidated shopping for both shelf-stable and fresh goods, improving real-time inventory visibility and efficient order fulfillment. This partnership signifies a major step in H Mart's digital transformation, aiming to enhance the online shopping experience for its customers.
VTEX (NYSE: VTEX) announces a partnership with Pinterest to expand social commerce capabilities for its 2,600 global customers. This collaboration enables VTEX's customers to seamlessly integrate product catalogs, create Pins, and run shopping campaigns on Pinterest. Pinterest, with over half a billion monthly active users, offers a vast audience actively seeking inspiration and shopping online. Early adopters of this partnership include brands like Whirlpool, Blaisten, and Easy, enhancing their customer engagement through Pinterest's platform. The partnership aims to foster meaningful consumer connections, driving organic growth and creating vibrant shopping experiences.
VTEX (NYSE: VTEX), a top commerce platform for brands and retailers, announced the outcomes of its 2024 Annual General Meeting (AGM) held on May 24, 2024. Shareholders ratified the appointment of Silvia Mazzucchelli to the Board of Directors and approved the financial statements and auditor’s report for the fiscal year ending December 31, 2023. A total of 113,089,223 shares, representing 76.71% of the voting power, participated in the AGM.
VTEX reported strong financial results for the first quarter of 2024 with significant year-over-year growth in GMV, total revenue, gross profit, and non-GAAP operating income. The company's focus on product launches, revenue streams, and operational leverage contributed to margin expansion and customer success. VTEX also highlighted key operational and commercial highlights, showcasing partnerships with global brands and market expansion initiatives. The company remains optimistic about its future growth prospects despite economic uncertainties.
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