VTEX posted non-GAAP operating income of USD 13.8 million in Q2 2026, up 62.4% year over year, for a 21.4% margin.
Free cash flow climbed 79.1% to USD 12.7 million, lifting the margin to 19.8%.
Subscription revenue increased 11.4% to USD 63.8 million, while subscription gross margin widened 1.9 percentage points to 81.8%.
GMV rose 17.8% to USD 5.7 billion; the company cited growth drivers across global expansion, B2B, ads, and AI.
Business updates included AI Workspace demand with 100+ enterprise customers on a waitlist, multi-product adoption, and a USD 23.2 million share buyback.
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