| --- | --- | --- | --- | --- | |---------------------------------------|-------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | Business Overview First Quarter 2022 | | | | | | May 2022 | | | | | SAFE HARBOR This presentation has been prepared by VTEX ("we," "us," "our," "VTEX" or the "Company"). This presentation may contain forward-looking statements relating to such matters as continued growth prospects for the Company, industry trends and product and technology initiatives. T ...

VTEX (NYSE:VTEX) Q1 2022 Earnings Conference Call May 12, 2022 4:30 PM ET Company Participants Julia Vater Fernández – Investor Relations Director Geraldo Thomaz Jr. – Founder and Co-Chief Executive Officer Ricardo Camatta Sodre – Finance Executive Officer Mariano Gomide de Faria – Founder and Co-Chief Executive Officer Conference Call Participants Cesar Medina – Morgan Stanley Vitor Tomita – Goldman Sachs Clarke Jeffries – Piper Sandler Will Carlson – KeyBanc Capital Markets Operator And welcome to the VTE ...

Financial Performance - Total revenue for the three months ended March 31, 2022, was $34.67 million, a 34% increase from $25.92 million in the same period of 2021[11] - Subscription revenue increased to $32.58 million, up 32% from $24.66 million year-over-year[11] - Net loss for the period was $19.09 million, compared to a net loss of $12.46 million in the prior year, reflecting a 53% increase in losses[11] - The company reported a gross profit of $22.06 million, representing a gross margin of approximately 63.7%[11] - Basic loss per share for the three months ended March 31, 2022, was $(0.100), compared to $(0.072) for the same period in 2021, indicating a higher loss per share[56] Assets and Liabilities - Total current assets decreased to $330.06 million from $349.52 million, a decline of approximately 5.5%[7] - Total liabilities increased slightly to $88.17 million from $87.78 million, with current liabilities totaling $60.25 million[9] - Cash and cash equivalents at the end of the period were $99.62 million, down from $121.01 million at the beginning of the period[14] - The total shareholders' equity decreased to $314.81 million from $327.19 million, reflecting a decline of about 3.8%[9] - Total trade receivables increased to $41,424,000 as of March 31, 2022, compared to $40,825,000 on December 31, 2021, reflecting a growth of about 1.5%[33] - The total amount of short-term investments was $176,061,000 as of March 31, 2022, slightly down from $177,191,000 on December 31, 2021, a decrease of about 0.6%[31] - The total amount of intangible assets, net, was $34,394,000 as of March 31, 2022, compared to $33,644,000 on December 31, 2021, reflecting a growth of about 2.2%[45] - The total financial assets at amortized cost amounted to $141,858, a decrease from $163,014 as of December 31, 2021, representing a decline of approximately 13%[72] - The total financial liabilities decreased slightly to $22,766 as of March 31, 2022, compared to $23,435 as of December 31, 2021, indicating a reduction of approximately 3%[72] Expenses - Operating expenses rose significantly, with sales and marketing expenses increasing to $17.90 million from $11.04 million, a 62% increase[11] - The total share-based compensation expense for the three months ended March 31, 2022, was $2,413, an increase from $1,317 in the same period of 2021[62] - Current tax expense for the three months ended March 31, 2022, was $427,000, compared to $207,000 for the same period in 2021, indicating an increase of approximately 106.3%[39] Deferred Revenue and Tax Liabilities - Deferred revenue increased to $38.09 million, up from $32.80 million, indicating growth in future revenue recognition[9] - The total current and non-current tax liabilities increased to $2,357,000 as of March 31, 2022, compared to $2,045,000 on December 31, 2021, representing an increase of about 15.3%[37] - The total taxes payable decreased to $4,463 as of March 31, 2022, from $5,195 as of December 31, 2021, a decline of 14.1%[51] Cash Flow and Financing - Cash and cash equivalents decreased to $99,624 as of March 31, 2022, down from $121,006 as of December 31, 2021, reflecting a decline of about 18%[72] - The total loans and financing as of March 31, 2022, amounted to $3,283, slightly up from $3,279 at the end of 2021[47] - The Group's loans and financing amounted to $3,283, with a fair value of $3,356, indicating a slight difference due to interest rate fluctuations[87] Risk Management and Currency Exposure - Approximately 16.8% of the Group's revenues for the three months ended March 31, 2022, were denominated in or linked to U.S. dollars, compared to 17.3% for the year ended December 31, 2021[158] - The Group's assets were represented by 70.6% in U.S. dollars as of March 31, 2022, compared to 69.6% as of December 31, 2021, showing an increase in dollar-denominated assets[158] - The Group's liabilities, excluding total shareholders' equity, were represented by 15.4% in U.S. dollars as of March 31, 2022, down from 16.9% as of December 31, 2021[158] - The Group's risk management is predominantly controlled by a central treasury department, which identifies and hedges financial risks in cooperation with the Group's operating units[89]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 OR The Cayman Islands (Jurisdiction of Incorporation or Organization) ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 125 Kingsway, WC2 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of February 2022. Commission File Number 001-40626 VTEX (Exact name of registrant as specified in its charter) N/A (Translation of registrant's name into English) 125 Kingsway, WC2B 6NH London, United Kingdom (Address of principal executive office) Indicate by check mark whether the registrant files or will ...

| --- | --- | --- | --- | --- | |---------------------|-------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | Business Overview | | | | | | | | | | | | Third Quarter 2021 | | | | | | November 2021 | | | | | SAFE HARBOR This presentation has been prepared by VTEX ("we," "us," "our," "VTEX" or the "Company"). This presentation may contain forward-looking statements relating to such matters as continued growth prospects for the Company, industry trends and product and technology ini ...

Financial Data and Key Metrics Changes - Revenue for Q3 2021 increased to $31.9 million, representing a year-over-year increase of 15.2% and 12.3% on an FX neutral basis, exceeding guidance of $31 million to $31.5 million [36][37] - Subscription revenues accounted for 93% of total revenues, with subscription revenue rising to $29.6 million, a year-over-year increase of 12.6% in U.S. dollars and 9.7% on an FX neutral basis [41][42] - Non-GAAP loss from operations was $13.3 million, compared to a loss of $10.4 million in the previous quarter, reflecting increased investments in cybersecurity and compliance [44] Business Line Data and Key Metrics Changes - The backlog of new online stores under implementation doubled year-over-year, indicating strong sales momentum and future growth confidence [14][41] - Subscription gross margin was 68.2%, slightly down from 68.8% in the previous quarter, attributed to investments in cybersecurity and compliance [43] Market Data and Key Metrics Changes - Latin America is identified as the fastest-growing region globally, with e-commerce growth nearly 10 percentage points higher than the worldwide average [11] - The company is experiencing strong momentum in Brazil, where it holds a significant market share, and is expanding its presence in other Latin American countries [61] Company Strategy and Development Direction - The company aims to be the operating system for the commerce ecosystem, focusing on zero friction onboarding and collaboration, and enhancing its development platform [8][25] - Strategic partnerships with AWS, Facebook, Stripe, and Mercado Libre are expected to enhance the company's global digital commerce presence and improve customer conversion rates [19][20][22] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term growth of e-commerce in Latin America, despite short-term supply chain challenges impacting some verticals [44][48] - The company anticipates revenue growth to accelerate in Q4 2021, targeting a range of $35.3 million to $37.3 million, implying a 27% year-over-year FX neutral growth rate [49] Other Important Information - The company was recognized as a Visionary in the Gartner Magic Quadrant for Digital Commerce 2021, highlighting its strong market position and capabilities [17] - Monthly active developers accessing the VTEX development portal increased from over 9,500 in Q2 to over 14,000 in Q3, indicating growing interest in the platform [32] Q&A Session Summary Question: Will Q3 be the bottom for GMV growth? - Management indicated that GMV growth is expected to recover, with a strong pickup already observed in October [55] Question: What drove the strength in subscription revenue despite GMV being below expectations? - The strength in subscription revenue was attributed to a higher implied take rate from new customers who are not yet generating significant GMV [57] Question: What verticals or geographies are driving backlog strength? - Backlog strength is observed across various industries, with significant growth in Brazil and increased investments in Latin America outside Brazil contributing to this momentum [61][62] Question: How are supply chain issues impacting net revenue retention? - Supply chain issues primarily affected electronics and home appliances, but management noted stronger GMV growth in Q4, indicating potential recovery [70][71] Question: How is the macroeconomic environment in Brazil affecting the business? - Management acknowledged short-term impacts from currency devaluation and inflation but emphasized the long-term resilience of the business model against these factors [76][80]