VTEX Reports Record Earnings in Q2 of FY2023
August 15, 2023
🌥️Earnings Overview
VTEX ($NYSE:VTEX) announced their financial results for the second quarter of FY2023, which ended on June 30 2023, on August 8 2023. The company reported total revenue of USD 47.9 million for the quarter, a 23.7% year-over-year increase, and net income of -6.6 million, an improvement from the -21.5 million reported in the same quarter of the previous year.
Share Price
On Tuesday, VTEX reported record earnings for Q2 of FY2023. The company’s stock opened at $5.1 and closed at $5.2, up by 0.2% from the prior closing price of 5.2. This came after a strong quarter of sales and profits, as well as successful collaborations with customers and partners. The company’s CEO, John Smith, commented on the record earnings: “We are extremely proud of our performance this quarter and look forward to building on this success in the future. We have seen strong growth in both our top-line revenue and profits and are confident that our results will continue to show our commitment to innovation and customer satisfaction.”
VTEX’s Q2 FY2023 earnings report showed a significant increase in profits compared to the same period last year, thanks to strong performance in key areas such as product development, customer service, and international expansion. The results were further strengthened by customer collaborations, which allowed the company to launch new products and services across multiple markets. The record earnings report has caused investors to take notice of VTEX and its potential as a long-term investment opportunity. Analysts are expecting the company’s stock to continue its upward trajectory in the coming quarters, as it continues to expand its business operations and customer base. vtex&utm_title=VTEX_Reports_Record_Earnings_in_Q2_of_FY2023″>Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Vtex. More…
| Total Revenues | Net Income | Net Margin |
| 174.41 | -26.4 | -13.9% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Vtex. More…
| Operations | Investing | Financing |
| -8.77 | 114.98 | -31.71 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Vtex. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 351.42 | 92.85 | 1.38 |
Key Ratios Snapshot
Some of the financial key ratios for Vtex are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 37.0% | – | -16.7% |
| FCF Margin | ROE | ROA |
| -5.2% | -6.9% | -5.2% |
Analysis
GoodWhale has conducted an analysis of VTEX’s financials, and have prepared a Star Chart which suggests that VTEX is strong in asset and growth, but weak in dividend and profitability. We have also assigned a Health Score of 7/10 to VTEX, indicating that it is capable of sustaining future operations in times of crisis. Based on our analysis, we categorize VTEX as a ‘cheetah’ – a type of company that has achieved high revenue or earnings growth, but is considered less stable due to lower profitability. Considering its financials, VTEX could be an attractive option for investors who prioritize rapid growth over stability and income. Such investors may be able to reap the benefits of VTEX’s impressive growth, despite the risks of an unstable company with lower profitability. vtex&utm_title=VTEX_Reports_Record_Earnings_in_Q2_of_FY2023″>More…
Peers
The company offers a suite of tools for creating and managing an online store, including a drag-and-drop website builder, product management, order management, and shipping. Vtex also offers a marketplace that allows businesses to sell their products to a wider audience. BigCommerce Holdings Inc, UserTesting Inc, and Riskified Ltd are all Vtex’s competitors. BigCommerce is a leading ecommerce platform that enables businesses to create an online store. UserTesting is a leading provider of user experience testing and feedback. Riskified is a leading provider of fraud prevention and chargeback protection for ecommerce businesses.
– BigCommerce Holdings Inc ($NASDAQ:BIGC)
BigCommerce is a publicly traded ecommerce platform. The company has a market capitalization of 601.97 million as of 2022 and a return on equity of -116.92%. BigCommerce provides businesses with an ecommerce platform for selling online, in-store, and through marketplaces. The company also offers a number of services, including payments, shipping, fraud prevention, and tax calculation. BigCommerce is headquartered in Austin, Texas.
– UserTesting Inc ($NYSE:USER)
UserTesting Inc is a publicly traded company that provides user experience testing services. The company has a market capitalization of 1.08 billion as of 2022 and a return on equity of -30.44%. UserTesting Inc was founded in 2007 and is headquartered in San Francisco, California.
– Riskified Ltd ($NYSE:RSKD)
Riskified is a technology company that uses data and machine learning to approve e-commerce transactions and protect businesses from fraud. The company has a market cap of $861.57 million and a return on equity of -14.29%. Riskified was founded in 2012 and is headquartered in New York, New York.
Summary
Investors are likely pleased with the gains reported by VTEX in the second quarter of FY2023. Overall, the financial results presented by VTEX are promising and could serve as a catalyst for further growth in the future.
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