Brazil's VTEX Q2 revenue up on global expansion, slightly misses estimates

VTEX targets Q3 subscription revenue growth at approximately flat FX-neutral YoY rate.

Company sees full-year 2026 subscription revenue up low-single digit percentage FX-neutral YoY.

VTEX expects non-GAAP income from operations margin in the low-twenties percentage for Q3 and full year.

• Growth drivers - Co said Global Expansion, B2B, Ads, and AI segments grew 20% FX-neutral, helping offset sluggish overall revenue growth.
• Enterprise shift - Co said customer mix is shifting toward larger enterprise accounts, which influenced near-term growth.
• Weak Brazil consumption - Co cited weaker consumption trends in Brazil as a factor impacting results.

Brazil commerce platform's Q2 revenue grew 9.5% yr/yr, slightly missing analyst expectations.

Non-GAAP income from operations and free cash flow both rose sharply yr/yr.

Company repurchased 6.2 mln shares for $23.2 mln during Q2.