VTEX — an ecommerce software provider to 2,600 B2C and B2B customers, including 3,500 online stores across 43 countries — is launching several new or upgraded features this fall.

The software vendor’s technology platform upgrades come after a positive second-quarter financial report. London-based VTEX said Q2 revenue increased 18.1% year over year to $56.5 million as the gross merchandise value transacted through its ecommerce platform grew 15.6% to $4.4 billion.

Now, the company is expecting its new technology features to generate further growth for its clients.

VTEX reaches further into social commerce

Geraldo Thomaz, CEO, VTEX

CEO Geraldo Thomaz said on a recent earnings call that VTEX’s strategy is to expand the capabilities of its “composable and complete” ecommerce technology platform to help B2B and B2C companies provide better customer and grow sales through unified commerce across channels.

He also called out recent efforts in social commerce and said VTEX.

“We have expanded our partnership with TikTok, which has grown from Brazil to the rest of Latin America, and this quarter, we are thrilled to launch a partnership with Pinterest, further expanding our customer social commerce opportunities,” Thomaz said on the Q2 earnings call, according to a transcript from Seeking Alpha.

Mariano Gomide de Faria, Co-CEO, VTEX

Co-CEO Mariano Gomide de Faria, who co-founded VTEX in 1999 with Thomaz, added that VTEX is “moving R&D to delivery AI products.”

VTEX builds on B2B personalization

VTEX provided additional details on several new platform features:

⦁ B2B FastStore “offers personalized purchasing with unique catalogs, custom pricing, and an efficient ordering process,” VTEX says. “This front-end solution provides a comprehensive B2B experience, featuring quick orders, advanced buyer management, and multi-hierarchy support to scale operations and streamline procurement. It also allows seamless switching between business units to ensure accurate purchase alignment.”

⦁ The VTEX Sales App’s updates allow sales associates to sell products both in-store and online through a single checkout process. “They can also manage multiple carts, offer complementary products, and provide value-added services like warranties and customizations.”

⦁ Google’s Merchant Connector allows sellers on VTEX to feature their products in organic Google search listings and utilize price comparison and tracking tools. Brands can now “map their entire catalog with Google Shopping ads, activate offers for specific payment methods, and implement Google Pay with a single click,” VTEX says. It adds the VTEX platform will soon integrate Google Pay into the VTEX Fast Checkout application.

⦁ The VTEX Ad Network, launched this spring, now “enhances visibility by displaying sponsored products in search auto-complete suggestions and product galleries,” VTEX says. It adds that advertisers can also export campaign data, search terms, and product insights, providing access to comprehensive reports. “The Ad Network leverages AI-driven optimization for higher conversions, precision targeting, and comprehensive ad campaign monitoring,” the company says.

⦁ VTEX Pick and Pack’s “updated admin interface provides a detailed worksheet view for real-time order tracking, with instant notifications for pickers, time alerts, item audits, and transfers,” VTEX says. “The AI-powered ‘Returns Module’ expedites returns and exchanges.”

VTEX expands customer activity

VTEX announced a number of new B2B and B2C clients in Q2, including Australia-based Chooze, a distributor of equipment designed for people with disabilities, and U.S.-based optometry service MyEyeDr.

VTEX also announced expanded engagements with such enterprise customers as Essity, Motorola, Nike and Victoria’s Secret.

The company said it our first European event. VTEX Connect Europe, held in Barcelona, attracted over 3,000 registrants from more than 50 countries, featured over 60 sponsors.

For the second quarter ended June 30, VTEX reported:

• GMV increased 15.6% year over year to $4.4 billion. (VTEX notes that, “Our GMV does not include the value of orders processed by our SMB customers or B2B transactions.”)
• Total revenue increased 18.1% to $56.5 million.
• Subscription revenue increased 20.6% to $54.- million, representing 95.5 % of total revenue.
• Income from operations improved to $1.7 million from a loss of $7.1 million.
• Net income grew to $4.93 million from a net loss of $6.61 million.
• As of June 30, 2024, total headcount increased 2.6% to 1,339.

For the six months ended June 30, VTEX reported:

• Gross merchandise value increased 19.8% year over year to $8.47 million.
• Revenue increased 21.77% to $109.2 million; subscription revenue gained 23.4% to $104.3 million.
• Income from operations increased to $2.8 million from a loss of $7.1 million.

Paul Demery is a Digital Commerce 360 contributing editor covering B2B digital commerce technology and strategy. [email protected].

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