Vtex · NYSE:VTEX
Vtex — Corporate Update (April 2025)
11 slides from Vtex's corporate update, Apr 15, 2025
Slide 1: Financial impacts of conversion from IFRS to US GAAP
Financial impacts of conversion from IFRS to US GAAP April 15th, 2025
Slide 2: Safe Harbor
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. These stateme
Slide 3: Primary P&L impacts from converting from IFRS to GAAP
Under IFRS Under GAAP Primary Impacts of conversion Share-based Compensation (“SBC”) Expenses are recognized under the accelerated method for SBC resulting in greater expenses being recognized in earlier years. Payroll taxes and social charges are recognized progressively throughout the vesting peri
Slide 4: Rationale for transition from IFRS to US GAAP
As part of our ongoing efforts to enhance financial transparency and comparability with industry peers, VTEX intends to transition its financial reporting standards from International Financial Reporting Standards (“IFRS”) to US GAAP (“GAAP”). We believe that adopting GAAP may expand our access to a
Slide 5: Key Financial Metrics: IFRS vs. GAAP
Key Financial Metrics: IFRS vs. GAAP US$ thousands, except percentages (unaudited) FY 2024 FY 2023 IFRS GAAP Delta IFRS GAAP Delta (unaudited) (unaudited) Total Revenue 226,709 226,661 (48) 201,517 200,833 (684) Total Cost (59,418) (59,705) (287) (60,949) (60,986) (37) Gross Profit 167,291 166,956 (
Slide 6: Key Financial Metrics: Non-IFRS vs. Non-GAAP
Key Financial Metrics: Non-IFRS vs. Non-GAAP US$ millions, except percentages (unaudited) FY 2024 FY 2023 Non-IFRS Non-GAAP Delta Non-IFRS Non-GAAP Delta Non-GAAP Subscription Gross Profit 170.3 170.2 (0.1) 145.1 144.4 (0.7) Non-GAAP Subscription Gross Profit Margin 78.2% 78.2% (0.0) p.p. 76.2% 76.1
Slide 7: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures US$ millions (unaudited) General and Administrative Expense GAAP General and Administrative Expense (34.3) (32.4) Share-Based Compensation Expense 8.1 5.9 Amortization Related to Acquisitions 0.0 0.0 Non-GAAP General and Administrative Expense (26.2) (26.5) Resear
Slide 8: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures US$ millions (unaudited) Free Cash Flow Net Cash Provided by (Used in) Operating Activities 26.0 5.4 Acquisitions of Property and Equipment (2.1) (0.5) Free Cash Flow 23.9 4.9 Income (Loss) from Operations GAAP Income (Loss) from Operations 7.4 (14.0) Share-Based
Slide 9: Appendix
Financial impacts of conversion from IFRS to US GAAP Appendix 9
Slide 10: Balance Sheet: IFRS vs. GAAP
FY 2024 FY 2023 IFRS GAAP Delta IFRS GAAP Delta (unaudited) (unaudited) Assets Total Current Assets 284,590 284,590 - 266,253 266,255 2 Non-Current Assets Deferred Tax Assets 19,047 13,968 (5,079) 19,926 13,726 (6,200) A Property, Plant and Equipment 2,999 2,970 (29) 2,697 2,678 (19) Right-of-Use 2,
Slide 11: Cash Flow Statement: IFRS vs. GAAP
A) Under GAAP, interest and dividends received and all lease payments are reclassified to Operating Activities. B) Under GAAP, interest and dividends received are reclassified to Operating Activities. C) Under GAAP, all lease payments are reclassified to operating activities. Under GAAP, 2023 Restri