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VTEX Business Overview Second Quarter 2026 August 2026
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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 statements are based on currently available information and our current assumptions, expectations and projections about future events. While we believe that our assumptions, expectations and projections are reasonable in view of currently available information, you are cautioned not to place undue reliance on these forward-looking statements. Forward-looking statements regarding VTEX involve known and unknown risks, uncertainties and other factors that may cause VTEXʼs actual results, performance or achievements to be materially different from any future results, performances or achievements expressed or implied by the forward-looking statements. Certain risks and uncertainties are described under “Risk Factors” and “Forward-Looking Statements” sections of VTEXʼs Form 20-F for the year ended December 31st, 2025 and other VTEXʼs filings with the U.S. Securities and Exchange Commission (“SEC”) which are available on our investor relations website. You should read this information together with the sections of VTEXʼs Form 20-F entitled “Selected Financial Data” and “Information on the Company” our audited consolidated financial statements and our unaudited interim condensed consolidated financial statements and their respective notes, which are available on our investor relations website (https://www.investors.vtex.com/). Unless required by law, VTEX undertakes no obligation to publicly update or revise any forward-looking statements to reflect circumstances or events after the date hereof. This presentation also contains estimates and other statistical data made by independent parties and by us relating to market size and other data about our industry. This data involves a number of assumptions and limitations, and you are cautioned not to give undue weight to such data and estimates. In addition, projections, assumptions and estimates of our future performance and the future performance of the markets in which we operate are necessarily subject to a high degree of uncertainty and risk. Neither we nor our affiliates, advisors or representatives makes any representation as to the accuracy or completeness of that data or undertake to update such data after the date of this presentation. In addition to financial information prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) as well as the rules and regulations of the SEC regarding financial reporting, we use certain non-GAAP financial measures to clarify and enhance our understanding, and aid in the period-to-period comparison, of our performance. We believe that these non-GAAP financial measures provide supplemental information that is meaningful when assessing our operating performance because they exclude the impact of certain amounts that our management and board of directors do not consider part of core operating results when assessing our operational performance, allocating resources, preparing annual budgets, and determining compensation. The non-GAAP measures have limitations, including that they may not be directly comparable to other companies, and you should not consider them in isolation or as a substitute for or superior to our GAAP financial information. See the Appendix to this presentation for a reconciliation of non-GAAP financial measures to their nearest GAAP equivalent All of the financial information included in this presentation is updated as of June 30, 2026, unless otherwise indicated. Except as may be required by applicable law, we assume no obligation to publicly update or revise our statements. Numbers have been calculated using whole amounts rather than rounded amounts. This might cause some figures not to total due to rounding. 2
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2Q26 Earnings Highlights. Multi-Product Adoption Existing Customers Expanding into Ads and CX Platforms AI Workspace Demand 100+ Enterprise Customers on Waitlist Growth Drivers +20% FXN Global Expansion, B2B, Ads, and AI Key Strategic Highlights Key Financial Metrics Gross Merchandise Value (GMV) $5.7B ○ +17 .8% USD ○ +7 .0% FXN Subscription Revenue $63.8M ○ +11.4% USD ○ +1.3% FXN Subscription Gross Margin1 81.8% ○ +190 bps YoY Operating Income1 $13.8M ○ +62.4% YoY ○ 21.4% margin Free Cash Flow1 $12.7M ○ +79.1% YoY ○ 19.8% margin 3(1) On a Non-GAAP basis. Please see appendix for reconciliation of non-GAAP metrics. (2) Based on 2Q26 average repurchase price of $3.76/share. $23.2M Share Buyback 10%+ FCF Yield2 on EV Accretive to FCF/Share
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Powering B2B and B2C commerce, Ads, and CX in one unified suite to drive revenue and improve efficiency. VTEX Commerce Platform VTEX CX Platform VTEX Ads Platform VTEX is the AI-native commerce suite for enterprise brands and retailers. 4
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Third-party Marketplaces Conversational Commerce Sales App Personal Shopper Other Channels PIM/ CPQ OMS/ WMS Carriers Payments Search & Personalization Third-party Sellers Marketing & Analytics ERP CRM Digital Commerce (B2C & B2B) User Admin AI Workspace Experience Management Headless CMS Storefront Application Intelligent Search PWA Application User & Account Mgmt Dashboard & Analytics Extensions Hub Developer Tooling AI Developer Toolkit VTEX IO Storefront Platform VTEX IO App Platform Masterdata Mgmt Distributed Order Management Logistics Order Routing Shipping Network Inventory Management Marketplace Management Seller Portal Offer Quality & Mgmt Marketplace Network Seller Management Live Shopping VTEX Data Pipeline VTEX Shield Pick and Pack Catalog Price Checkout Channel Management Request for Quote Punchout Promotions Payment Gateway Buying Organizations Buying Policies VTEX Ads On-Site Off-site In-store Insights & Analytics VTEX CX Platform WhatsApp Store Agentic Multichannel Experience Autonomous Post-Sales Voice Commerce Commerce Platform Ads Platform CX Platform The backbone for connected commerce.
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6 89% of our Subscription Revenue comes from enterprise customers(1). Each generating at least $25K ARR, with an average of $145K in ARR(1). Fashion & Sporting Goods Electronics & Appliances Grocery & Convenience Stores Home, Furniture & DIY Pharma (1) As of FY 2025. Per active online store.
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VTEX at a glance. Non-GAAP(1) subscription gross margin (2Q26 LTM) 81.4% GMV B2C (2Q26 LTM in USD) $22.1 B Revenue (2Q26 LTM in USD) $252.6 M Number of active online stores(2) (FY 2025) 3.1k Countries with active online stores(2) (FY 2025) Financial stats Company metrics 44 2.2k Number of customers (FY 2025) 7(1) Please see appendix for reconciliation of non-GAAP metrics. (2) Active online stores means the number of unique domains generating gross merchandise value.
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AI-native commerce suite. AI embedded across Commerce, Ads, and CX in one unified suite designed to drive business impact. Enterprise commerce backbone. Built for complex B2B and B2C operations across channels, fulfillment, marketplaces, and customer experience. Blue-chip customer base. Trusted by leading enterprise brands and retailers across multiple verticals and geographies. Commerce data & domain knowledge. Commerce-specific intelligence built from decades of enterprise use cases, workflows, and signals. Outcome-based business model. We grow as our customers grow, with the majority of our subscription revenue tied to GMV. Strong unit economics & margin upside. Attractive LTV/CAC, high-margin existing stores, and expanding free cash flow generation. Investment Thesis: Why VTEX? 8
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9 A founder-led, future-driven culture of integrity. Employee headcount 1Q25 4Q25 1Q26 1,283 1,102 1,147 Our principles 1. We are informed by the future. 2. We deliver customersʼ needs over their wants. 3. We have exceptional standards. 4. We choose to face bold uncomfortable challenges. 5. We insist on simplicity. 6. We play on the field. 7 . We go as deep as needed. 8. There is no gap between words and actions. 9. We act with extreme ownership. 10. VTEXʼs interest first. Photo: VTEX Day 2026, São Paulo - Brazil 2Q26 1Q26 2Q25
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The market is layering incremental AI features on top of legacy complexity. We took a different path, rebuilding the foundation to deliver an AI-native commerce suite designed to drive measurable impact. Customization Agility & Innovation Speed Low Born SMB. Born on-premise. Transforming AI into Real Commerce Impact. Combines the speed of SaaS with the flexibility needed for large, complex businesses. Leverages a unique, aggregated data asset to build a foundational model for ecommerce, a decisive advantage in the AI era. High Low High On-Premise and Monolithic, Siloed Data. Highly customizable but suffer from long implementations, high costs, and slow evolution. Single-tenant models prevent the aggregation of data, limiting their potential in the AI era. Limited Feature Set. Fast time to market but lacks the deep feature set needed for the demanding needs of large enterprises. 10
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11 Traditional Core Commerce VTEX Out-of-the-box Core Pricing Promotions Product Management VTEX IO Development Platform Marketplace & Seller Management Payment Gateway Distributed Order Management Channel Management Content Management AI-powered Search Online Store Physical Store Mobile App Marketplace POS WMS CRM ERP Login Cart Checkout Ads We deliver unprecedented time to revenue with an extensive set of out-of-the-box commerce capabilities.
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Sales Channels Fulfillment Channels Distributed OMS Native Marketplace B2B Self Service & Assisted Sales Marketplaces Web/ Mobile App Social Commerce Physical Store Live Shopping / Conversational Commerce Agentic Commerce and other channels Inventory & Warehouses 3rd Party Sellers Dropship Network 1st Party Fulfillment Store Network 3rd Party Fulfillment Suppliers and Distributors Our Complete Platform enables enterprises to explore multiple ways to sell and fulfill. 12
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API-first services Multi-tenant architecture VTEX IO Development Platform Our Composable Technology is flexible and extensible by design. 13 AI Developer Toolkit
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System Integrators Marketplace Payment Shipping Fraud & Lending POS & Omnichannel Search & Merchandising Marketing Automation Note: Ecosystem data as of FY 2025. 9,000+ VTEX IO extensions created by third parties. 1,200+ SIs and ISVs. 500+ Marketplaces. 200+ Payment solutions. 90+ Logistics companies. 55%+ of GMV from Collaborative Commerce transactions. 90%+ of GMV from customers that use Collaborative Commerce integrations. 26,000+ Monthly active users accessing VTEX developer portal. 700+ Deploys by 3rd parties in VTEX IO on average per day. We have a live and connected global ecosystem of partners that lead to exponential growth.
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Greenfield AI-native Commerce Suite Displacements Collaborative commerce strategy Composable commerce technology Vibrant ecosystem ○ Looking to start quickly ○ Limited experience. Need to evolve as they learn ○ Prioritizing a solution that can scale as they grow ○ Looking for an ecosystem to minimize building solutions on their own ○ Looking to innovate and evolve ○ Facing scalability issues given legacy structuresʼ limitations ○ Searching for new go-to-market strategies to drive sales growth ○ Looking to upgrade to a more robust solution ○ Facing challenges given lack of feature depth on SMB-focused platforms … Attract Customers at Different Stages of Maturity From Enterprise Platforms From SMB Platforms Our Competitive Advantages… 15
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16 Modern commerce software is as valuable as the domain knowledge and data it connects to deliver measurable AI impact on revenue growth and operating efficiency. The age of siloed, feature-based SaaS is gone.
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VTEX CX Platform already resolves 91%+ 17 VTEX Ads Platform leading retailers converting of after-sales interactions without human intervention. of their GMV into high-margin ad revenue. 0.5%+ VTEX Commerce Platform AI Workspace adopted by AI Developer Toolkit gaining traction with customers and global SIs. From AI hype to AI results.
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18 Commerce Ecosystem Ecommerce Software Higher win rateLower win rate Almost all leads from the VTEX sales team Testing the market by getting a first reference customer Build cases and start recruiting talent Create momentum by increasing sales and brand awareness Drive towards leadership, scaling efficiently We have a disciplined go-to-market and scaling strategy. ~ Half of leads from ecosystem or inbound Acceleration Scale Validation Discovery
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New customer additions Grow GMV with existing customers Innovation and platform expansion Geographic expansion Ecosystem development Multiple vectors for ongoing growth
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Financial Overview Second Quarter 2026
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21 We are driven by a scalable and global future. With attractive unit economics: LTV/CAC(1) of approximately 4x. # of customers with ARR above US$250k 27 .5% 14.5% Cohort Revenue Growth (FX Neutral) 2024 2025 Global Expansion % of Revenue Brazil Global Markets3LatAm ex-BRA 2% 12% 2024 2025 Land-and-Expand NRR FX Neutral(2) 10.3% 6.8% Same Store Sales (FX Neutral) 2024 2025 (1) Means lifetime value to customer acquisition costs. LTV is calculated as gross profit from new sales divided by the subscription churn rate of the last twelve months, and CAC as total sales and marketing expenses incurred during the four quarters preceding the quarter in which the calculation is made. (2) Calculated by using the avg. monthly FX for the applicable months during previous year, adjusted by inflation in countries with hyperinflation, and applying them to the corresponding months in current year, so as to calculate what our results would have been had FX remained stable. (3) Formerly reported as “Rest of the World”. 19% Subs. Revenue FX Neutral YoY
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22 183 226 282 429 480 605 791 889 451 523 623 953 1,041 1,347 1,756 1,983 SSS Top 100 18% 19% 21% 22% 13% 13% 98% 103% 35% 35%SSS Top 25 Top 25 Customers Top 100 Customers CAGR 17-25: 24% CAGR 17-25: 23% 2019 2020 2021 2022 2023 23% 25% 2018 Number of customers with ARR above US$250k Stores / Customer Stores 692 5.5 557 5.9 424 5.6 313 5.4 190 5.3 2019 2020 2021 2022 2023 139 5.3 2018 Note: Same Store Sales (SSS) for Top 100 and Top 25 Customers calculated in FX Neutral. 29% 30% 2017 46 2.6 2017 2025 723 4.6 9% 11% 2025 Average Revenue by Customer: Top 100 vs. Top 25 USD Thousands We are proud of our customers' journeys. As we continue expanding upmarket, growing our base of larger customers, VTEXʼs long-term growth and resilience strengthen. 11% 8% 2024 2,287 1,013 2024 732 4.7
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Top 100 Customers are growing, opening new stores in the same country and expanding to new countries. Circle sizes in proportion to the yearsʼ Avg. ARR / Top 100 Customers 2017 2025 37 countries 5.4 stores / customer ARR 117 .7 M 27% FXN CAGR 17-25 # Countries # Stores Note: “ARR” means annual recurring revenue, calculated as subscription revenue in the most recent quarter multiplied by four. ARR 23.9 M 13 countries 2.2 stores / customer 23 600150 200 250 300 350 400 450 500 550 0 5 10 15 20 25 30 35 40
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24 Diversified revenue mix. We are diversified across verticals. Our software works well for many different industries. We are also diversified across customer tenure. We create long-term relationships between VTEX and our customers. We have a fragmented and diversified customer base. Customer verticals % of 2025 VTEX platform revenue Customer tenure % of 2025 VTEX platform revenue Customer concentration % of 2025 VTEX revenue Others Toys & Hobbies Department stores Home, Furn. & Decor. Electronics Home appliances Grocery Beauty & Health Apparel & Accessories 2025 19% 17% 16% 10% 8% 8% 7% <1 year 1-3 years 3+ years 2025 72% 21% 7% Largest customer Top 2-10 customers Other customers 2025 84% 13% <3% 3% 12%
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Competitors sell software & services, VTEX sells growth & efficiency. 25 VTEX offers a comprehensive subscription solution that provides access to our homogeneous multi-tenant SaaS platform. We grow with our customers and make ourselves responsible for their success, by charging most of our revenues from transaction-based fees. Business model: Subscription Revenue VTEX Platform clients are charged: Fixed Fee Variable Monthly Take Rate PK
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Strong land and expand model driving results. 2017 20242018 2019 2020 2021 2022 2023 2025 2024 2023 2022 2021 2020 2019 2018 Revenue cohort, FX neutral (US$ millions) Cohort analysis on a FX neutral basis. Cohort means a group of customers that received the first invoice of our VTEX platform in the preceding 18 months, to account for average implementation and ramp-up times. 26 Pre-2018 2025
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2025 New stores (~13% of VTEX rev., excl. SMB) ~61% ~(173)% ~(24)% ~(10)% ~(153)% % of Revenue, non-GAAP 2025A (VTEX platform + SMB + others + services) Gross margin(1) 78% Sales & Marketing (26)% Research & Development (24)% General & Administrative (10)% Operating margin 16% 2025 Existing stores (~87% of VTEX rev., excl. SMB) ~82% ~(4)% ~(24)% ~(10)% ~44% Directional P&L breakdown by existing vs. new stores. High margin existing storesʼ P&L, growing at VTEXʼs net revenue retention. Investment in new stores P&L, while impacting margin in short-term, yields returns aligned with our LTV/CAC. Our global expansion, mainly US and Europe, drives direct investments representing ∼40% of our total S&M expenses. (1) Services revenue and services cost are included only in the “New Stores” P&L, as our services are mostly related to white glove PMO service to guide new stores implementations by 3rd party SIs. 27
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28 Resilient growth and SaaS metrics with an attractive business model: we grow by enabling our customers to grow. Note: we calculate FX Neutral measures by using the average monthly FX for each month during the previous year and applying them to the corresponding months in the current year, so as to calculate what our results would have been had FX remained stable from one financial year to the next. GMV US$ billions 18.2 20.5 4.8 5.7 2024 2025 2Q25 2Q26 YoY growth FX neutral (%) 16.2% 12.9% 13.6% 7 .0% +17 .8% Subscription Revenue US$ millions 2024 2025 2Q25 2Q26 217 .7 234.9 57 .2 63.8 YoY growth FX neutral (%) 20.5% 9.5% 11.2% 1.3% +11.4% Subscription Gross Profit (Non-GAAP) US$ millions 2024 2025 2Q25 2Q26 YoY growth FX neutral (%) 24.9% 12.8% 14.7% 2.0% 170.2 188.7 45.7 52.2 +14.1%
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29(1) See appendix for reconciliation. (2) The total percentage of total expenses over net revenue presented in the chart includes other revenues (expenses). Non-GAAP subscription gross profit(1) As % of subscription revenue Non-GAAP operating expenses(1) As % of revenue(2) Non-GAAP subscription gross profit ($mm) R&D G&A Non-GAAP operating expenses ($mm) VTEX keeps growing and unlocking efficiency with steady costs and an optimized, agile organizational structure. $170.2 $188.7 $45.7 $52.2 78.2% 80.3% 2024 2025 2Q25 2Q26 81.8% 79.9% $138.9 $147 .6 $37 .0 61.3% 61.4% $38.0 2024 2025 2Q25 2Q26 11.5% 21.7% 27 .5% 10.4% 24.2% 26.0% 59.0% 10.8% 26.1% 22.3% 63.0% 11.3% 23.7% 27 .2% S&M
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Non-GAAP income from operations YoY margin expansion driven by revenue growth, and gross margin, S&M and G&A efficiencies. 14.4% 2Q25 Non-GAAP Income from operations margin Δ Gross profit 3.0% Δ S&M 4.9% Δ R&D (2.4)% Δ G&A 0.5% Δ Others 1.0% 2Q26 Non-GAAP Income from operations margin 21.4% 30
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Continued growth and efficiency gains keep boosting cash generation. 2Q26 Free Cash Flow grew +79.1% Y o Y, reaching 19.8% margin. 31 Free Cash Flow As % of revenue Free Cash Flow ($mm) 4.9 10.5% 13.4% Low- Twenties 19.8% 2023 2024 2025 2026 Guidance 2Q25 2Q26 23.9 32.3 — 7 .1 12.7 12.1% 2.5%
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Executing across our four growth drivers as an AI-native commerce suite while expanding margins and free cash flow. 32 3Q26 & FY2026 Guidance Summary 3Q26 Guidance FY2026 Guidance Subscription Revenue Percentage rate on an FX-neutral YoY basis Approximately flat Low-single digit Gross Profit Percentage rate on an FX-neutral YoY basis Low-single digit Mid-single digit Income from Operations (Non-GAAP) Percentage margin Low-twenties Low-twenties Free cash flow Percentage margin Low-twenties Low-twenties FX impact is expected to add approximately 7 .0 p.p. in Q3 and 8.1 p.p. for the full year to reported USD subscription revenue growth(1) (1) Assuming FX rates remain broadly consistent with Julyʼs average rates.
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2Q26 reinforces VTEXʼs long-term investment thesis AI-native commerce suite. Commerce, Ads, and CX in one unified suite. Enterprise customers. Trusted by global blue-chip brands and retailers. Resilient financial model. 81.8% subscription gross margin, 21.4% non-GAAP operating margin, and 19.8% FCF margin in 2Q26. Outcome-based model. Revenue aligned with customer GMV growth. Multiple growth levers. Enterprise expansion, Global Markets, B2B, Ads, CX, and AI. Disciplined execution. Operating leverage and free cash flow generation continue to scale. 33
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Appendix Second Quarter 2026
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Subscription gross profit 2023 2024 2025 Q2 2025 Q1 2026 Q2 2026 Subscription revenue 189.6 217 .7 234.9 57 .2 60.0 63.8 Subscription gross profit 144.2 170.2 188.5 45.7 48.8 52.1 Share-based compensation 0.2 (0.0) 0.2 0.1 0.0 0.0 Non-GAAP subscription gross profit 144.4 170.2 188.7 45.7 48.9 52.2 Non-GAAP subscription gross margin 76.1% 78.2% 80.3% 79.9% 81.5% 81.8% Subscription gross profit reconciliation (US$ millions) 35
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Operating Income 2023 2024 2025 Q2 2025 Q1 2026 Q2 2026 Income (loss) from operation (14.0) 7 .4 18.1 2.9 5.8 9.7 Share-based compensation expense 18.0 19.2 18.7 5.0 4.1 3.5 Amortization related to acquisitions 2.6 1.8 2.2 0.6 0.6 0.6 Earn out expenses related to acquisitions — 0.6 0.5 — — — Non-GAAP income from operations 6.6 29.0 39.4 8.5 10.6 13.8 Non-GAAP income from operations margin 3.3% 12.8% 16.4% 14.4% 17 .4% 21.4% 36 Income (loss) from operations reconciliation (US$ millions)
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Sales & Marketing 2023 2024 2025 Q2 2025 Q1 2026 Q2 2026 Sales & Marketing expense (59.4) (68.6) (68.6) (17 .4) (16.8) (15.5) Share-based compensation expense 4.3 4.6 4.2 1.1 0.8 0.7 Amortization related to acquisitions 1.2 1.2 1.6 0.4 0.4 0.4 Earn out expenses related to acquisitions — 0.4 0.3 — — — Non-GAAP S&M expense (53.9) (62.4) (62.6) (16.0) (15.6) (14.3) Non-GAAP S&M expense, as % of revenue (26.8)% (27 .5)% (26.0)% (27 .2)% (25.6)% (22.3)% Research & Development 2023 2024 2025 Q2 2025 Q1 2026 Q2 2026 Research & Development expense (60.2) (55.4) (63.9) (15.4) (17 .2) (17 .9) Share-based compensation expense 7 .3 5.5 4.9 1.3 1.2 0.9 Amortization related to acquisitions 1.2 0.5 0.6 0.2 0.2 0.2 Earn out expenses related to acquisitions — 0.3 0.2 — — — Non-GAAP R&D expense (51.8) (49.1) (58.2) (13.9) (15.9) (16.8) Non-GAAP R&D expense, as % of revenue (25.8)% (21.7)% (24.2)% (23.7)% (26.2)% (26.1)% General & Administrative 2023 2024 2025 Q2 2025 Q1 2026 Q2 2026 General & Administrative expense (32.4) (34.3) (34.0) (9.0) (8.2) (8.8) Share-based compensation expense 5.9 8.1 8.9 2.4 2.1 1.8 Amortization related to acquisitions 0.0 0.0 0.0 0.0 0.0 0.0 Non-GAAP G&A expense (26.5) (26.2) (25.1) (6.7) (6.1) (7 .0) Non-GAAP G&A expense, as % of revenue (13.2)% (11.5)% (10.4)% (11.3)% (10.1)% (10.8)% Operating expenses reconciliation (US$ millions) 37
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Net income (loss) reconciliation (US$ millions) Net income 2023 2024 2025 Q2 2025 Q1 2026 Q2 2026 Net income (loss) (15.9) 15.8 20.0 3.0 4.1 10.0 Share-based compensation expense 18.0 19.2 18.7 5.0 4.1 3.5 Amortization related to acquisitions 2.6 1.8 2.2 0.6 0.6 0.6 Earn out expenses related to acquisitions — 0.6 0.5 — — — Net (gain) loss on equity investments (1.0) (1.6) — — — — Income taxes related to non-GAAP Adjustments (3.8) (3.8) (3.7) (0.7) (0.7) (0.6) Non-GAAP net income 0.0 32.0 37 .6 7 .9 8.1 13.6 Non-GAAP net income margin 0.0% 14.1% 15.6% 13.4% 13.3% 21.1% 38
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Free Cash Flow reconciliation (US$ millions) Free Cash Flow 2023 2024 2025 Q2 2025 Q1 2026 Q2 2026 Net cash provided by operating activities 5.4 26.0 33.4 7 .3 13.4 12.9 Acquisitions of property and equipment (0.5) (2.1) (1.0) (0.1) (0.1) (0.2) Free Cash Flow 4.9 23.9 32.3 7 .1 13.3 12.7 Free Cash Flow margin 2.5% 10.5% 13.4% 12.1% 21.9% 19.8% 39
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FX neutral measures reconciliation (US$ millions) 40 As Reported FXN As Reported FXN 2Q26 2Q25 % Change 2Q26 2Q25 % Change Subscription revenue 63.8 57 .2 11.4% 58.0 57 .2 1.3% Services revenue 0.6 1.5 (61.7%) 0.6 1.5 (63.4%) Total revenue 64.4 58.8 9.5% 58.5 58.8 (0.4%) Gross profit 51.7 45.3 14.2% 46.3 45.3 2.2% Income from operations 9.7 2.9 231.7% 7 .7 2.9 165.5%
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Thank you investors@vtex.com www.investors.vtex.com