Vtex projects a 9.3%-10.7% increase in subscription revenue for FY25.
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 06 2025
0mins
Fourth Quarter 2025 Revenue Growth Target: The company aims for FX-neutral year-over-year subscription revenue growth of 5.0% to 10.0%, translating to US$65.8 million to US$68.8 million.
Operational Margins for Q4 2025: The target for non-GAAP income from operations margin is in the mid-twenties, with a free cash flow margin expected in the high-teens range.
Full Year 2025 Revenue Growth Target: For the entire year of 2025, the company is targeting FX-neutral year-over-year subscription revenue growth of 9.3% to 10.7%, equating to US$234 million to US$237 million.
Basis for Revenue Projections: The revenue projections are based on average foreign exchange rates from October.
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Analyst Views on VTEX
Wall Street analysts forecast VTEX stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for VTEX is 4.75 USD with a low forecast of 4.49 USD and a high forecast of 5.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
4 Analyst Rating
2 Buy
2 Hold
0 Sell
Moderate Buy
Current: 3.410
Low
4.49
Averages
4.75
High
5.00
Current: 3.410
Low
4.49
Averages
4.75
High
5.00
About VTEX
VTEX provides a software-as-a-service (SaaS) digital commerce platform for enterprise brands and retailers. The Company’s platform enables its customers to execute their commerce strategy, including building online stores, integrating and managing orders across channels, and creating marketplaces to sell products from third-party vendors. The platform is also designed to be the operating system for the commerce ecosystem, enabling enterprise brands and retailers to orchestrate their network of consumers, business partners, suppliers, and fulfillment providers in one place with a complete Commerce, Marketplace, and OMS solution. The Company offers solutions, which are focused on the omnichannel experience for retailers, such as the VTEX Sales App, VTEX Pick and Pack, VTEX Personal Shopper, and the Extensions Hub, among others. It has over 3,400 active online stores across 43 countries. The Company's subsidiaries include VTEX Argentina S.A., VTEX Day Eventos LTDA and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
VTEX Achieves $1 Billion GMV During Black Friday-Cyber Monday with 10.2% Order Growth
- Significant Sales Growth: VTEX achieved a GMV of $1 billion during the Black Friday-Cyber Monday week, reflecting an 8.1% increase in USD compared to 2024, showcasing the company's robust sales momentum in a competitive market environment.
- Strong Sector Performance: Among the 43 countries where VTEX operates, the Apparel & Accessories, Beauty & Health, and Home, Furniture & Decoration verticals achieved GMV growth of 24.2%, 23.5%, and 19.7% respectively, indicating sustained consumer demand in these sectors.
- Robust Infrastructure Capacity: During the Black Friday-Cyber Monday week, VTEX's infrastructure processed 273 billion edge requests, peaking at 53 million requests per minute, ensuring security and reliability for customers during peak periods and reinforcing its leadership in e-commerce infrastructure.
- Ongoing Strategic Investments: VTEX continues to invest in global expansion, product capability enhancements, and high-impact initiatives like B2B and AI, aiming to drive the future of enterprise commerce and maintain a competitive edge in a rapidly changing market landscape.
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VTEX Reports 10.2% Order Growth and $1 Billion GMV During Black Friday-Cyber Monday
- Significant Order Growth: VTEX experienced a 10.2% year-over-year increase in orders during Black Friday-Cyber Monday, indicating robust market demand across 43 countries and reinforcing its position as the backbone of connected commerce.
- GMV Achievement: VTEX customers achieved a GMV of $1 billion during the Black Friday-Cyber Monday week, reflecting an 18.2% increase from 2024, showcasing the positive impact of foreign exchange dynamics and enhancing the company's competitive edge in the e-commerce market.
- Peak Performance: Sales peaked on November 28, reaching $600,000 in GMV per minute, demonstrating VTEX's capability to handle high-traffic transactions effectively, thereby increasing customer trust and satisfaction.
- Robust Infrastructure: During the Black Friday-Cyber Monday week, VTEX processed 273 billion edge requests with a peak performance of 53 million requests per minute, ensuring scalability and security during peak periods, further solidifying its leadership in e-commerce infrastructure.
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