VTEX Posts Solid 2024 Growth Despite Currency Headwinds
Mar 2, 2025
VTEX—our Latin American Shopify clone—returned to the Green Screen after this week's update, so let's take a quick look at its fiscal year results. Sales grew 12.5% in 2024, but adjusting for the stronger U.S. dollar, the increase was closer to 18%. Customers generating over $250K in annual recurring revenue rose 23%, while net revenue retention from existing stores held at 104%. These are solid numbers, but the sharp 25%+ appreciation of the U.S. dollar against the Brazilian real (BRL) significantly impacted both results and guidance. In BRL, revenue guidance was +14-17%, but in USD, it translated to just ~6%. Currency fluctuations are inevitable, and they tend to balance out over time. That said, VTEX continues to operate well, and I still like the business as originally reviewed. The stock is worth $6.25 and trades at an appealing price—but not quite attractive enough to buy just yet.
Follow @GreenDotStocks
Information contained on this website represents only the opinions of the author and should not be used as the sole basis for investing decisions. By using this site, you agree to all statements in the Site Policy.
Watch List
| WDAY | -13.18% |
| VEEV | 12.52% |
| PSTG | -7.13% |
| INTU | 14.19% |
| CMG | 31.78% |
| RDDT | 7.17% |
| NTNX | 17.22% |
| CRWD | 76.14% |
| SE | 19.26% |
| SNOW | 5.28% |
| APPF | 6.95% |
vs. Fair Value Estimates
Buy List
| PINS | -37.54% |
| ASML | -25.06% |
| SEMR | -37.55% |
| TSM | -43.44% |
| ZETA | -32.89% |
| GOOG | -51.47% |
| NYAX | -30.39% |
| MSFT | -31.81% |
| ODD | -32.30% |
| ASR | -26.98% |
| FLYW | -44.52% |
| HRMY | -60.41% |
| YOU | -37.20% |
| ABNB | -33.55% |
| MELI | -26.26% |
| ADBE | -45.26% |
vs. Fair Value Estimates
Hold List
| VTEX | -17.92% |
| CELH | 49.08% |
| TOST | 16.30% |
| CPNG | -14.83% |
| HIMS | -23.69% |
| PAYC | -21.14% |
| MNDY | 7.35% |
| GLBE | -24.43% |
| ZS | 23.06% |
| V | -7.38% |
| ADSK | -2.06% |
| NOW | -1.85% |
| FTNT | -4.90% |
| TEAM | -8.65% |
vs. Fair Value Estimates