VTEX posts $63.8 million in subscription revenue
VTEX reported second-quarter results with modest subscription revenue growth. Gross merchandise value reached $5.7 billion, up 18% year over year.
The company’s profitability and free cash flow increased sharply, driven by investments in artificial intelligence and international expansion. Subscription revenue was $63.8 million, increasing 11% in U.S. dollars.
High interest rates and softer consumer demand in Argentina weighed on near-term growth. The company’s established B2C commerce business in Brazil and Latin America declined modestly on an FX-neutral basis.