VTEX - Earnings call transcript Q2 2022

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Julia Vater Fernández

Hello everyone, and welcome to the VTEX Earnings Conference Call for the quarter ended June 30, 2022. I’m Julia Vater Fernández Investor Relations Director for VTEX.

Our senior executives presenting today are Geraldo Thomaz, Founder and Co-CEO; and Ricardo Camatta Sodre, Finance Executive Officer.

Additionally, Mariano Gomide de Faria, Founder and Co-CEO; and Andre Spolidoro, Chief Financial Officer, will be available during today’s Q&A session. I would like to remind you that management may make forward-looking statements relating to such matters as continued growth prospects for the company, industry trends and product and technology initiatives. on and available projections based current and are expectations assumptions, about statements our information currently our These future events.

that of information, and uncertainties believe reasonable on these to we our described Certain and reliance expectations While risks statements. projections place in undue view are under the you available are forward-looking currently are cautioned not assumptions, Risk the filings XX, which December other VTEX’s on year with Exchange Factors U.S. available XXXX and and Forward-Looking Statements Relations sections of Investor ended VTEX’s Form XX-F Securities the website. for our and Commission are

like our the nearest reconciliation the would may quarter release press second of conference our I discuss to of we in to measures comparable Finally, XXXX Relations remind earnings GAAP you during call website. on A those available course measures that some can Investor measures. non-GAAP found this be

to Now, Geraldo, let Geraldo. the floor call turn the yours. me over is

Geraldo Thomaz

our call. Thank for thanks you, XXXX joining quarter Welcome conference everyone Julia. second earnings and

We’re commerce quarter excited factors; existing to announce outpaced outperformed customers enterprise two the of focused GMV That the first our driven markets. the base. customer key our resiliency growth this by GMV our demonstrating was market, that once again overall

add the volatile join new platform Second, platform under in macroeconomic even demonstrating our VTEX the to conditions. customers value the trust

As X% just flattish, single GMV our in to Latin a XX ecommerce testament most. growth was digit that, grew USD, and year-over-year in QX, at American while global growth

Latin position leadership We VTEX in America. its continue consolidating seeing

Colombia. of free the hot confidence in of us quarter, Mexico in the Colombia, During delivered tax up such mature in markets consolidation the such solid we day and ramp as more in sales events, results Mexico and special as giving

noticed something experts, forward international expansion, by I address solid in Additionally, will we that making though. steps later industry continue which our was

investment the growth menu roughly couple were and allow tax the years, our that past type triple opportunities. an a of us in future to of phase cycle, important headcount for we Over create

of natural this, growth. only opportunities most the it leverage of down optimal structure strong the doubling as of [Indiscernible]. created We with and work included and employees. our deeply is that of up by part thank currency those and growth plan, impacted for our structure decision and hard privatization With layoff XXX the the opportunities employees prioritize VTEX appreciate us growth that This of opportunities delivering Now, the commitment who were is the setting promising on to continue layoff. to hard came

customers line underlying the and The the the will year in opportunities of form of from continue already of reallocate We're are infrastructure new top we to keeping gross can our self-funded market, improving our the optimize provide XXXX, new We innovating with affected. to XXX to us. to some our VTEX be long will in to Latin growth how outperform expenses growth non-GAAP operations the that the happy gross and as year-over-year XX% to and gain to outperformed while of Latin manner quarter been our dips On power company increase gross our This that shorter inform strong already customers I'm by Pursuing improvements, we be initiatives. channels. multiple taxes outperform we’ve continue our strong at among consistent that we customers of value margin, practically our by is growth And our the the of having margin, to subscription being the a margin pursuing mentioned, in opportunities, the in the helping systems able front is such sales about through approximately on and us. the in migration In that the of remaining consumers found growth margin of channels them customers market. remaining accelerate have and something confident efficient we million our We VTEX. GMV customers helping great fulfillment environments will add demonstrating operational some the welcome our investments. as to expansion excited American all in was the and a demonstration how term key stay aligned born have not to feel market, efficiency. helping need of was basis. of in our we and we driven to and future mostly $XXX translates extremely we second frameworks, our America, ARR actually continue are proud VTEX cloud that the operating On for relevant more of the to trends priorities that into XXXX. term other deliver sector in enormous sustainable technology processes, continue disciplined ecommerce into

gross non-GAAP dips We of our to XXX contributes gross basis. which year-over-year a margin also improved service on an improvement overall margin,

to line levels jeopardizing expect We going the service leverage expenses will year in or growth our significant while the our On also show best-in-class term. improvements providing in showing this forward, we operational second the without continue short, customers. of in medium long to half

layoff Day, partners, deliver that one-off QX adjusted the clearly anticipated in that of trajectory to top QX, is P&L As to positioning resulted before, in calibrated I a the start have structure our our that additional Tax on we to to and priorities, expect prospects, of for in our organizational related mentioned expenses QX we among operating existing already our an expenses demonstrate will clean In event key income. the order customers. which company

attracted the brands our quarter, premier in retailers. continue to updates, commercial we and second moving Now,

their Groupe this that and presence countries online ZeBrands quarter didn't have store in in new Some respective went were BRF that SumUp in Seb before Colombia, Elo, in customers live Andeans Chile. Brazil,

in Momentum Spain. existing the On Grainger and of Yamaha that quarter and was in in treasured went Citric continued Mexico, customers. Invitadisima Hering this building with in number Garbarino customers that, other in and the Colombia, new top platforms Additionally, from Brazil, U.S. that relationship migrated live we [Indiscernible] and [Ph] in Argentina, sticking Textiles our

line operation Mexico during the their to us Latin expanded stores were that opening Inbev countries countries new retailers and in in AB added America, nine with addition Sugo and in addition to new brands added other premier America. Republic Latin second quarter four in in Dominican the Some other countries

year, customers be us. by be last the ahead structural demand see while platform. of in platform to for we the succeed long quarter, the mentioned digital May changes The with As VTEX VTEX average, Solutions and is VTEX term opportunity foothold named average in Forrester new months subscriptions. our no number the a encouraged contender was its strong continue the implement to continues gain note, has products VTEX outside that that America, taking first historical of wave, in the of stated a to recently that the to have in BXC markets above mission we to Therefore, we on report On VTEX in are and begun this QX XXXX. Latin

in of do sales new to force a are of work geography. multiplying on to expansion proud We we this and cannot strong all as increasing plan we continue is our we recognition, will product believe according in the see from collaboration. and traction this We alone. hard feed We know, this international our

retailers last in proposition are start to to with powerful an will One online to value world’s continue provide to consistent with why we our our experience confident launched omni channels. the of a partnership is our of that drives platform leading strategy we and Aligning announce shared the for growth enabling partnership global companies. advantages nurture choice our We're companies a Adyen, ecosystem, partners. Both and brings the payment channel quarter, that of key a brands competitive the customer to that are and we business partnership and excited expand operation committed offline many that's enterprise ecosystem. and having payments

generating program related on the boost We by needs with RSV a third focused customers. acceleration and are quarter VTEX innovative this vendors, the expanding that program. ecommerce of seeks the ecommerce The is In in customization app apps in new and party VTEX software ecosystem integrating solutions available included or can innovation second we independent our XXXX, of the to partners on also store. fostering platform. few project offering our global with partnerships the keep layers meet focused

One of in app launched operation. Bizu the of analytics Brazil and was control detailed an called MailUp, ecommerce them have that who helps customers

Another one win our already was capability to CRM customers. who added WoowUp, us enable the ecosystem, to which

four VTEX cases wrapping Before clothing priorities, appliances which customers. and now app, our mobile But wanted is business avoiding update a from units, website this in series up, revisit I'd and retailer stores continuous focusing headless customization the and in XXX section two our and remember, XXX for more to innovation Ken Brazil sells limitations. for technologies, any like our home VTEX chose They than in implement to approach. with while strategic

shopping a a between experience a internal this months, only Pernambucanas, first wanted able an the we timeline. implement the solution with to them they achieving the online go in clients Last team to that Additionally, our The live from that providing five to true team of impressive consistent to case support the our experience. omni in going event we West. VTEK have channel in keep mentioned complex reformulate quarter, was experience enabled were channels,

for to during for to to at back demonstration. we consider time launches, encouraged but customer campaigns, product from led live increase a which in experience social not and are that sales only conversion our our a events, global product solution Live see penetrate our looking stream viewers customer the also trend, Now and base. media and them is continue rate shot, leveraging results, event,

order single petrol live improving consistent leveraging place increase different more home unify XX%. box them fact, process with our our a of of BXB to one project, of XX with which maintainability example, a sales They engines including app cooled up the the which The growth with operation three quarter physical provides channel units XXX over and with in world's two parts the platform, and the in scale use West different air frictionless multi and for five quarter, multiple decided Embargosalobestia Stratton, to us the appliance a their Briggs capability Omni and our trajectory experiencing represents of of in ecommerce re-launch the for In this chose for in stores to experience, in years. the producer VTEX an to resulting features, orders. with account. sales a us quarter run all been almost outdoor a company help largest motorcar quick forms, has to business last Spain language single platform, we had events, retailer out of channels. equipment ecommerce user high a of choose supporting robust, a it with power shopping order

and also true performance channel are in website. omni physical the checkout focused Times. was robust highest growth the SKUs. improving them, included improving recently usability capabilities. by customers synergies other The performance conversion is for leveraging while stores developer Europe were in-house in by list overall of the and other operations, need of In a the strategy Financial to the VTEX, commerce the growth the given of sales difficulties top scaling they up on fact, key a statistics, building clear between wanted rates omni They channel physical grow were XXXX both channels. companies integrating now metrics, and website and also The generating They the online facing

platform, and than attracting quarter up working the XXXX, commerce, the and our in mission, our update developers Monthly fulfill of platform as more in developers first continue to for more section, choice XX,XXX to developer momentum XXXX Wrapping digital Active proud of development the quarter in as gaining year. the to accessing the customers, of the local thank community portal that our partners increased scaling are we second announce we're our I well to capabilities. XX,XXX VTEX same would operational VTEX like our On to than from investors. that

I turn financial so he quarter. reports Now, will the progress for our the Ricardo call can cover to

Ricardo Camatta Sodre

second the Hi our pleasure a to everyone. of on Geraldo. XXXX. here you, financial you performance Thank be quarter for It's update

to dollars, increase XX% FX our neutral dollars, from quarter and XX% $XX.X $XX.X reached XX% year-over-year million increased the neutral year-over-year of U.S. in the U.S. FX XXXX in revenue of revenue million in year, in on $XX.X our a same basis. million, second quarter, last of and XX% This increase a basis. on quarter Subscription

quarter last subscription in XX% gross revenue. improved our second margin gross year, profit same expansion compared expansion, the which clouds versus non-GAAP Non-GAAP was we million basis quarter, The of in for of by -- XX.X% implementation our profit the quarter non-core overall $XX.X to backlog, second subscription a in reaching gross XXX XXXX. gross margin $XX.X in accounted of an compared Non-GAAP of of and total XXXX margin, services operational migrate of revenue XXX in the hosting increase million, subscription usage. same we revenue margin points gross XX.X% year-over-year hosting to XX% of the improvements leads XXXX. was quarter quarter to services XX% the of in On year-over-year This our non-GAAP the our increases services margin $XX.X which also reflects points. led million, to a optimize top basis codes subscription and as explained representing computing improvement

in decision amount. second one-off is XXXX. operational during were half foresee you lines see continue loss majority operations leverage to million VTEX $XX.X not off million quarter million result expenses of hard second had than handled expenses but Leverage second the expenses XXXX, slightly to all due million you same employees, the and million already laying with a in come the increase resulted responsibility. significant last to our when from of more our structure, Day loss This $XX.X the the expect non-GAAP for and Our in XXXX. gross this in and our expenses. as well we operations Both those as operating well transparency, outmost improvements, the from to period previous year. Day of Along invested and VTEX be we The of representing non-GAAP second to also of in the total from $XX.X delivering respect $X expenses increased $XX.X primarily from these quarter quarter only compared the the XXX of margin accounting on comments, will side decision a XXXX in layoff to of in with

many business in top line come. achieving market make ability growth us years end and model to demonstrate confident for Our allocation, capital our attractive to

a income operating XXXX, potential our between has non-GAAP opportunity. growth XXXX seeing while margin stores operating in margin path continue also ranged to clear from us and giving existing Our XX% our XX% executing plans, respectively,

in the three negative second June been June one-off in million improvements of beginning in receivables, compared Since in flow XXXX, diligently which VTEX the These $XX.X expenses XXXX, as is $XX.X well capital, in capital already a flow our prepaid had resulted million the cash ended payables. in cash working result As quarter optimization the to mentioned. procurement an months we've to improvement negative operational working a working XX in of XXXX. expenses flow and despite of our accounts cash free of free improvements our as of collection optimize

FX income we solid customers the year, well quarter the on dollars neutral range. see we XXXX, Regarding also volatility year-over-year a and the we outperform the impacting conditions of half margin time improving operating of uncertainty customers while our XX% remain to U.S. future our market million of the $XX.X are of our will the of in had XX% as the stores for gross third targeting QX, our into performance uncertain. in In outlook, macroeconomic our we third revenue although second XXXX, implement cleaner entering comps million in are to currently to new for continue margins. in on and growth $XX.X a average VTEX platform, middle implying helping as continue the Therefore, generating range the quarter macroeconomic and basis performance. existing We focusing in GMV

revenue $XXX neutral to implying million XX% a well volatility, is rates. growth For on our based VTEX positioned $XXX incremental navigate FX target to of July average environment. of XXXX, maintain we year the range the full million year-over-year to XX%, despite FX the current

visibility path to clear even. of have our break We

opportunities. interesting liquidity in organic capital see part Considering M&A potentially We funding are balance pursue as use our opportunities. allocation this could We our excess to capitalized with capital plans, liquidity over million three $XXX areas after sheets. key of growth the we

could long of gap accelerate this the medium deployment an may term, private expansion. be could part his international also [Ph] between use the interesting they public challenges term Although markets and over be capital to mass opportunity. short and We pose capital our

intermediate of with over the medium clear caution early evidence an in expansion, be we of term, Although long and deployed capital the commercial could allocation. be international traction, stages should see capital as and this interesting

approved of useful repurchases by deployment, as which in dislocations. we Finally, an board directors, our capital be shares of additional tool moments now market for have could as

We evaluate will and requirements. call, best helping options value of Wrapping market. the conditions, are the our clearly evaluation today's applicable always adding term the long to outperform by shareholders of digitally we based of and interest up market them company, allocate these the on in legal capital customers

We continue undergoing strong have backlog to implementation. a

and We margin these expect gross and confidence us. together margin improvements opportunity to the the our we income of have in expanding the long today have of deliver an operating in All half term second in business ahead give us year.

continue on We makes what focusing VTEX unique.

base, resilient and chip and Thank platforms, blue a replicate difficult to Our questions customer and you. technology, now. features, quality up let's it for and open products of ecosystem. strong With the our that,

Operator

line The you Bank Fred is of Mendes first of Instructions] America. Thank from [Operator the with question

You may proceed.

Fred Mendes

questions for everyone and call. afternoon, two have thanks the I Good here. good. Hello,

Textiles it The again first looks wrapping up Kleiner operation. US at one you mentioned like [ph], Momentum this it’s

can So any meeting, market roadmap for of question. in for would if share That'd first market the my anyways, terms think great. share, be profile gaining be information I of U.S. whatever the these clients, the on the U.S. of of for the you the kind

you in range third for what Q, consider deliver deliver, XXXX, quarter-over-quarter, is in the like top than guidance $XX million third already I million year. question. the to is what When need the Q acceleration fourth something happened I $XX Q the Second you'd XX% like the look higher which the for of in if and last

of are that here need this the confident how in terms numbers strong for guidance in one consider XQ the a you. just be So Thank year. order to reaching you to deliver

Mariano Gomide de Faria

going Okay, to to Sodre. for U.S. to for the I’m pass will through answer going in I Mariano I'm here. ask expansion then the and

So seeing pipeline. strong we on U.S. the keep

own profile a generate ability the organic This be more pipeline a We recognition is the the of coming. on are the of increasing In change bit year. seeing we those in good. stronger leads our our visibility, beginning And our is are little announcing our planet is view, as this deals. to the are to

So that to clients all we're are the momentum focus as the is in Briggs plan. in The the Stratton, you saw implementing we U.S., going we put confident to to it pretty of that the it to that following as client platforms. are midsize BXB in in are deliver continue legacy will the And & we to continue able is we momentum the we focus live plan U.S. going old we that them, much a migration be to

Ricardo Camatta Sodre

And second Thanks the Mariano to just for Sodre Hi Perfect. Fred, compliment question. here. it’s question. the on Ricardo

implicit right Regarding QX. guidance for the

may weaker be for will than guidance So was acceleration fourth bit mainly driven QX seasonality, more in previous years seasonality than aligned the usual. that XXXX QX little QX quarter we our with some quarter a believe show versus which by XXXX fourth

and GMB the performance recently up our As existing ramp well implemented new customer. the our as of of customers,

some fourth So in those drivers the are quarter. key acceleration the for

Fred Mendes

you, Thank Mariano. you Thank clear super Perfect, Ricardo.

Operator

Clarke the line of Sandler. question is Piper Jeffries from next with The

proceed. may You

Clarke Jeffries

Hello, taking the thank you for question.

what going bookings? neutral of are especially, to to appetite the guess the guided You changed is adjusting the you're growth, full GMV on? you pipeline and XX% the XXXX that, you beyond I hit as year. sort neutral a Ricardo, FX growth, is level I of XX% comparing how FX trends, terms high mean, know, from And maintaining in you QX, seeing for

Ricardo Camatta Sodre

start to to thanks Yes, others compliment. happy and

the maintaining XX% guidance we guidance in So we yes, for XX% the for the second have And are year. quarter the for delivered as FX well. for middle the And we the of the guidance. neutral are growth QX guiding we and

integrating we term out the remarks, the to have channel the the VTEX and we for attractive almost brands there, channels, a very sales As on both retailers omni side Ecommerce that. long opportunity, helps to and continue different the mentioned strong the platform. prepared fulfillment on tax It's continue see in on and lot side. strategy important demand for

guidance the VTEX we volatility our account So we strong the and demand years impact driver And three of most for that's in the taking now. it for does GMV Macroeconomics some as term to the Right? company. that's uncertainties right for see into continue existing important software. customers. in see our long But of the in

Clarke Jeffries

the then fair that anyway, half think help expenses of the think through to how expansion could think All year the year. operating to for through insight second levels, back expansion an to right, be rest there margin might any possible for us QX and the to go through And Is say perfect. it then, it stay base. kind the help what's there or of on us to

Ricardo Camatta Sodre

that Yes, we And you from additional we forward. a great, details so after to related optimizing are headcount opportunity at the other share expect impacts appreciate is VTEX at XX%. expenses way expenses layoffs level. not layoff similar going roughly XX% topic. headcount excluding savings our QX great this could on a our our Therefore, it to by to some Yes, reduced question. We the look good believe also

will forward. million per savings other into that translate words, So than in month slightly $X more going

Clarke Jeffries

much. very Thank Perfect. you

Ricardo Camatta Sodre

Thank you.

Operator

question the Thank you. is The line Sachs. of Aragão Goldman with next Diego from

proceed. may You

Diego Aragão

thanks for Hi, taking I question. Two my Yes. questions, may. if

for the but the change of the want the to level only impact be could regarding level, this previous next end one to the the the understand related views maybe not is guess, started I'm and the efficiency And initiative if can one eventually let's your that at share up not programming structurally how potential for I us on say, regarding what place? And a with breakeven passcode Ricardo, any should first just quarters, business impact expected EBITDA be XXXX. also during the at follow you about thinking was how we like right? EBITDA The for your quarter? mistaken,

the is question. So Thank you. first this

Ricardo Camatta Sodre

Thanks question. for Diego Great. the

on previous operating right, to quarter that commitment. break aiming [Indiscernible] first layoff the maybe That The be recent fourth call, starting So clear adjustment from of the we mentioned, are mentioned even, a continues the as to our by is in XXXX. earnings we income the this of the demonstration reach commitment. non-GAAP

to breakeven there sooner, our if growth reach we definitely impacting while opportunity not an plans, pursue will it. is Now,

I impact, So slightly On timing in previous going EBITDA a forward. think mentioned that's we question organization the create than in level Jeff, optimization on as our did month structure I should there. from that the the per roughly dollars more savings million of

if roughly expenses QX million, remove So for $XX.X. you our total was $XX

if please expenses month, it's million, move more can there'll clear, Diego. So something slightly going EBITDA expenses, I that the than not we and than $X per that a up you'd you But the $X a that, slightly impact. answered day from And $XX had, question these, forward. if please, more the neighborhood. then And be tax kind around remove sense million get Hopefully, million then your layoff expected of we of question. do you with have a the follow or

Diego Aragão

the is very question, you of which I versus jump helpful Thank into this that. Ricardo. No, very, profitability customers. new is customers, we guess the was second no, And existing can this for regarding

those I was margin the mature, just can which margin margin term around about, new if understand, for compares you that stores wondering say, year. XXXX, But I for As long like was in existing XXX%, clients, of to for XXX%, negative XX%, let's the stores right. a opening the as business your operating comment existing same

want I particularly those your been in understand Latin, we using customers if are That's or how in VTEX Fred, thinking Europe. question in So in margins be guess? Thank these the if the adding, these follow question. adding to profile platform term? portfolio, I you brands maybe regarding should a if adding and up the regions. long to just on I the are have that of And brands you new can are U.S. you you. in about

Ricardo Camatta Sodre

Great, Diego.

do very evolving P&L breaking how existing as on P&L, yearly term, the to new are P&L the margins business. But it's long margin and with of our for we P&L the long operating margins. down starting and the understand customers you XXXX, customers, providing so XX% basis, existing that mentioned the non-GAAP as they're customers we customers on between we term So helpful business. not our a the had And doing margins existing potential in are believe roughly

in was look actually XXXX, this you If XX%. back

So margin ahead of to turn from their not this after margins customers we over they existing have shows that we And the right. opportunity us. tend change into time, customers, customers new

Now showing quarters. over past few as been we have the

which are the of gross existing our is driver continue subscription improving we opportunity the gross We the there's margin an margin improving for to the and customers believe margins. gross

the question think so on more in related So I customers you take Mariano, was to the second U.S., if want to that one?

Mariano Gomide de Faria

Yes, yes.

for are with launch in VTEX. at both expanding continue We example, we're So on us. India seeing mention can we expansion of brands with brands the

global contract very every others. added. a it we're and that VTEX and Motorola, and It support So is proud added is global Whirlpool, country AbInbev, for single value clients like it Whirpool been new is with has to

on own go, kind their So moving forward they're transformation. of digital organic they as as

the it. for are backbone We

on and On the profile U.S. clients the the of Europe. in

midsize, companies, midsize CAE already that focusing BXB a disclaim. are for Briggs is & that's two like in online We Stratton, versions, enterprise one profiles, one companies we it like

the enterprise midsize United a platforms the side. in on second on side in, Europe. in we U.S. on seeing of So BXC migration And are legacy BXB BXB of is a the in one momentum these and

that those of profile in can as in you clients expect be U.S. to in the be will those the we're adding the going So next Europe. year one

Diego Aragão

you you. Thank again. Ricardo and Mariano good, Thank Sounds

Operator

KeyBanc. Josh [Operator with of is Instructions] you. The next Beck the Thank question line from

proceed. may You

Maddie Schrage

Thanks. just of internationally make you what do on point or about. what any this to that the of guys, GL Hey, allocation we seeing? on you're of And M&A this in looking click a terms perspective you helpful? you any double think is Maddie perspective would need could capital other with achieved your momentum bit just or in product And Josh, investments color to from be that a be a that M&A. were through for talking Are priorities, through kind

Mariano Gomide de Faria

Sodre please and capital invite The Geraldo here, Mariano to will open be and So complement. M&A. always for we I location,

we be, As are we and right this seeing market we curated the location. them in what this very will opportunities that the in be way now is always we in analyze

to of companies want with the right right values. we right see prices kind for the the So the

M&A. for in So we right market. is seeing are will be heavy always case opportunities that not the now looking we this like But the

growth. plan. has continue always were will investments. U.S. Europe our to and organic we continue allocation conscious very And way, other our organic been in invest That's of our in in is growth invest We we blend to kind of our The will this our

We in acting playbook are to plan to each every VTEX be very of unit economics are be that shown how in region market on and these we we have on us should that And we countries. those our give our go numbers. in these responsible track of in

Ricardo Camatta Sodre

complement. to Mariano And just

compliment gaps are leveraging opportunities, Sorry and data public we continue just private have going in I On a Europe many to in forward. U.S. on that and the that. see to we between we markets. invested some believe well looking structure mask

allocation, as allocation, was of capital mindful now also the repurchase the as capital share option So to also that's have in we to right, are additional question we short that And do term. something for an right. related

expansion, and we product So as company, opportunities. growth will prioritize growth a development plans, M&A organic our high international

as have liquidity having as during a in location could repurchase well current very as to be excess term shareholders the capital our do market to well. long the share sheets, considering Now, the dislocations market balance attractive that volatility, ability we

Maddie Schrage

of the color me. your defensive are GMV for your going where And any verticals total perspective one feel Awesome. Thanks. in just Do up you forward? have follow on most you

Geraldo Thomaz

I ideal customer to the and Hello, this is can hello, say sells They They several of to that in right talk in they you. now be have physical Geraldo. future would be Nice stores. be BXB and brands. the can profile can fashion customers channels retailers, grocery VTEX are multiple that companies.

We're us. they are platform a that's to omni channels As multiple long customer profile they for as the truth. source single through of want channel, ideal the serve that's

Maddie Schrage

the Thanks. color. I appreciate

Operator

like pass remarks. I'd back to questions the no are over There call Geraldo you. queue. in to Thank for remaining closing

Geraldo Thomaz

results results second are quarter the the excited We our about come. about and to encouraged in

control seeing tried opportunities be line pace. product for But in order macro. growth. tools market with customers at higher to environment with than the in we and this coming right business our engineering we bold and actions from the help of As navigate our the accelerate are sure can sales already strong the to coming We the set can top

we have extraordinary discipline continue of growth mission is Ecommerce backbone still capital into penetration to has become a Our huge. us to America commitment globally. company the The to with Latin in will ahead allocation road high commerce for ahead. in opportunity an its translate long

VTEX earnings While on companies and next the None order as in progress you such channel stay with do of the Thank starting. us journey proper joining to our changed. come. top brands about today. you partner of fundamentals of looking that need Enterprise is just They strategy in outside to to the to for a that, is build region everyone our update retailers to relevant. call. forward omni I'm best yet

Operator

the of That joining call. Thank rest enjoy day. concludes and your you conference today's for

VTEX (VTEX) 12 Aug 222022 Q2 Earnings call transcript