Cloud-based ecommerce platform provider VTEX reported double-digit year-over-year growth in both revenue and gross merchandise volume (GMV) in its fiscal Q1 2026, which ended March 31.
Co-founder and co-CEO Geraldo Thomaz Jr. said VTEX has placed an emphasis on growing its artificial intelligence (AI) suite. It has extended its AI product suite across its commerce, customer experience and advertising segments.
“We have embedded AI at the core of VTEX,” Thomaz Jr. said in a statement announcing the company’s Q1 earnings results.
Co-founder and co-CEO Mariano Gomide de Faria said VTEX’s AI helped its clients “unlock new revenue streams” and operate more efficiently in Q1.
More than 20 retailers in the Top 2000 Database used VTEX as their ecommerce platform in 2025. Those retailers combined for more than $5.3 billion in global ecommerce sales that year.
VTEX revenue and GMV growth in Q1 2026
In its fiscal Q1 2026, VTEX revenue reached $60.7 million. That was 12.1% year-over-year growth compared to $54.2 million during the same period of 2025.
Subscriptions represented the vast majority of VTEX revenue in Q1. They accounted for 98.8%, or $60.0 million, in revenue during the quarter. That was 14.0% year-over-year growth.
Also in its Q1, VTEX GMV reached $5.1 billion. That was a 17.1% year-over-year increase from about $4.2 billion.
VTEX noted three B2B ecommerce channel launches in the quarter:
- Home appliance company Whirlpool launched Compra Direta Parceiros in Brazil, its official B2B channel for distributors, resellers, and authorized service centers. Whirlpool ranks No. 668 in the Top 2000 Database.
- Electrolux, also a home appliance company, launched a B2B channel in Chile.
- Ikesaki launched EBC Atacado de Beleza in Brazil. That’s its official B2B channel for beauty professionals and resellers.
Additionally, the chocolate brand Lindt expanded its operations into Chile using VTEX. Electronics manufacturer Multilaser launched an official OPPO smartphone store in Brazil using VTEX.
Colombian department store chain Home Sentry has partnered with VTEX to scale the retailer’s digital presence. It seeks to “enhance its B2C operations while simultaneously activating an inbound marketplace to broaden its product assortment with third-party sellers.”
VTEX said the approach provided Home Sentry with flexibility to manage the retailer’s product catalog “while avoiding the operational complexity of running separate systems.”
Which companies are using VTEX for agentic AI?
The ecommerce platform company identified Amo Beleza (a cosmetics company), Decathlon (a sporting goods retailer), Grupo CVLB (an electronics retailer) and Whirlpool as “early adopters of the VTEX AI Workspace,” partnering to use a new agentic AI model for commerce operations.
VTEX said using its AI Workspace, these retailers are using AI agents to “instantly uncover growth opportunities.” They are also orchestrating complex tasks using natural-language commands, according to VTEX.
Skin care company ADCOS is using VTEX’s CX Platform to deploy an AI-powered concierge on WhatsApp. ADCOS now enables users to upload images, offering AI-powered skin analysis and personalized skin care recommendations in the chat log. It automated 59% of all digital interactions, according to VTEX.
Martí, a sports retailer in Mexico, adopted the VTEX CX Platform, deploying agentic AI across the retailer’s digital channels. VTEX said Martí automated abandoned cart recovery and product discovery. The agentic AI approach allowed Martí to proactively “re-engage customers,” VTEX said. In two months, the strategy delivered 280x return on ad spend and a 32.4% conversion rate from the retailer’s WhatsApp campaign, according to VTEX.
Percentage changes may not align exactly with dollar figures due to rounding. Check back for more earnings reports.
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