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VTEX(VTEX) - 2024 Q3 - Earnings Call Transcript
2024-11-06 11:00
财务数据和关键指标变化 - VTEX在2024年第三季度的GMV达到了44亿美元,同比在美元计价下增长了10%,在外汇中性基础上增长了17% [42] - 公司收入为5600万美元,同比在美元计价下增长了11%,在外汇中性基础上增长了19% [42] - 订阅收入为5390万美元,同比在美元计价下增长了13%,在外汇中性基础上增长了22% [43] - 非GAAP毛利率达到了75%,较去年同期的71%提高了约410个基点 [45] - 非GAAP运营收入率为14%,同比提高了10个百分点 [46] - 自由现金流达到770万美元,代表14%的利润率,较去年同期的5%有所上升 [48] 各条业务线数据和关键指标变化 - 服务收入为210万美元,因生态系统的演变使得新客户在美国和欧洲对VTEX的直接服务依赖减少 [44] - 订阅收入的强劲增长主要得益于新合同签署的良好势头、现有客户的强劲表现以及附加服务的交叉销售 [43] 各个市场数据和关键指标变化 - 在阿根廷,尽管面临挑战,订阅收入在外汇中性基础上仍实现了22%的增长 [59] - 在美国和欧洲,VTEX的客户组合正在扩大,包括Hearst和OBI等客户的加入 [70] 公司战略和发展方向和行业竞争 - 公司致力于通过持续的产品创新和平台能力扩展来推动增长,目标是成为连接商业的基础 [6][25] - 公司在第三季度成功举办了VTEX Connect Latam 2024,进一步提升了品牌知名度和市场机会 [16] - 公司正在通过与系统集成商的合作来增强全球支持和盈利增长,96%的收入来自订阅 [76] 管理层对经营环境和未来前景的评论 - 管理层对宏观不确定性逐渐消散表示乐观,并计划充分利用市场机会 [49] - 公司预计2024年第四季度的外汇中性收入增长目标为14%至17% [51] - 对于2024年全年,预计外汇中性收入增长目标为18.5%至19.5% [52] 其他重要信息 - 公司收购了Weni,增强了其AI驱动的客户服务能力,提升了客户体验 [23][24] - 公司在第三季度新增了多个重要客户,包括Fast Shop、Colgate和Mazda等 [11][30][34] 问答环节所有提问和回答 问题: 关于订阅收入的增长情况 - 管理层表示,第三季度的订阅收入在外汇中性基础上实现了22%的增长,尽管阿根廷的消费行为对基数产生了影响 [59][60] 问题: 关于新合同签署的强劲势头 - 管理层指出,全球管道显示出稳步改善,尤其是在巴西和美国的B2C和B2B市场中,多个大型零售商正在迁移到VTEX平台 [68][70] 问题: 关于系统集成商的关系 - 管理层提到,随着生态系统的成熟,VTEX对直接服务的需求减少,系统集成商在实施项目中的作用日益增强 [74][76]
VTEX(VTEX) - 2024 Q3 - Earnings Call Presentation
2024-11-06 08:13
业绩总结 - VTEX在2023财年总收入为2.259亿美元,非GAAP订阅毛利率为78.1%[11] - 2023年第三季度总收入为5600万美元,同比增长10.6%[50] - 2023年第三季度订阅收入为5390万美元,同比增长13.4%[50] - 2023年第三季度毛利润为4170万美元,同比增长17.2%[50] - 2023年第三季度运营收入为290万美元,较上年同期的亏损350万美元有所改善[50] 用户数据 - VTEX的2023财年每年经常性收入(ARR)中,86%来自企业客户,每个活跃在线商店的平均ARR为134,000美元[11] - VTEX在2023财年拥有2,300个活跃在线商店,覆盖43个国家[11] - VTEX的客户平均收入在2023年达到190.3百万美元,同比增长27%[35] - VTEX的客户在2023年中,60%的客户关系持续时间少于1年,29%的客户关系持续1-3年,11%的客户关系超过3年[30] - VTEX的客户集中度在2023年中,最大客户占收入的84%,前2-10大客户占13%[30] 市场表现 - VTEX的全球电子商务市场在2023财年达到5,800亿美元,拉丁美洲市场为1,820亿美元[18] - VTEX的GMV(商品交易总额)在2023财年为182亿美元[11] - VTEX在拉丁美洲的年GMV达到24亿美元,国际扩展持续投资于北美和欧洲[15] - VTEX的同店销售(SSS)在2023年为17%,同比增长[27] - VTEX的客户在2023年中,Top 100客户的复合年增长率(CAGR)为28%[28] 研发与费用 - 2023年第三季度研发费用为6010万美元,占收入的25.6%[49] - 2023年第三季度销售与市场费用为5950万美元,占收入的26.7%[48] - 2023年第三季度非GAAP研发费用为5150万美元,占收入的25.6%[49] - 2023年第三季度非GAAP销售与市场费用为5390万美元,占收入的26.6%[48] - 2023年第三季度非GAAP一般管理费用为2640万美元,占收入的13.1%[50] 未来展望与策略 - VTEX在2024年被IDC评为25家B2C供应商中的领导者,并被Gartner评为数字商务客户选择的唯一供应商[24] - VTEX的全球扩展预计对总支出的影响约为30%[34] - VTEX的客户获取成本(CAC)与客户终身价值(LTV)比率超过6倍,显示出良好的单位经济学[27] - VTEX的开发者门户每月活跃用户超过28,500人,第三方创建的VTEX IO扩展超过6,000个[22] - VTEX的员工人数从2023年第三季度的1,276人增长到2024年第三季度的1,409人[12] 负面信息 - 2023年第三季度服务收入为210万美元,同比下降31.9%[50]
VTEX (VTEX) Q3 Earnings: How Key Metrics Compare to Wall Street Estimates
ZACKS· 2024-11-06 07:30
For the quarter ended September 2024, VTEX (VTEX) reported revenue of $56 million, up 10.6% over the same period last year. EPS came in at $0.02, compared to -$0.01 in the year-ago quarter.The reported revenue represents a surprise of -1.89% over the Zacks Consensus Estimate of $57.08 million. With the consensus EPS estimate being $0.02, the company has not delivered EPS surprise.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to dete ...
VTEX (VTEX) Meets Q3 Earnings Estimates
ZACKS· 2024-11-06 07:10
VTEX (VTEX) came out with quarterly earnings of $0.02 per share, in line with the Zacks Consensus Estimate. This compares to loss of $0.01 per share a year ago. These figures are adjusted for non-recurring items.A quarter ago, it was expected that this company that helps retailers build e-commerce businesses would post a loss of $0.01 per share when it actually produced earnings of $0.03, delivering a surprise of 400%.Over the last four quarters, the company has surpassed consensus EPS estimates three times ...
VTEX to Report Q3 Earnings: Buy, Sell or Hold the Stock?
ZACKS· 2024-11-05 02:01
VTEX (VTEX) is set to report its third-quarter 2024 results on Nov. 5.It expects third-quarter 2024 revenues between $56 million and $57 million, indicating 18-20% year-over-year growth. The Zacks Consensus Estimate for third-quarter earnings has been steady at 2 cents per share over the past 30 days. VTEX reported a loss of 1 cent in the year-ago quarter.The consensus mark for third-quarter revenues is pegged at $57.08 million, indicating an increase of 12.73% from the figure reported in the year-ago quart ...
Bears are Losing Control Over VTEX (VTEX), Here's Why It's a 'Buy' Now
ZACKS· 2024-10-25 22:56
A downtrend has been apparent in VTEX (VTEX) lately. While the stock has lost 8% over the past two weeks, it could witness a trend reversal as a hammer chart pattern was formed in its last trading session. This could mean that the bulls have been able to counteract the bears to help the stock find support. While the formation of a hammer pattern is a technical indication of nearing a bottom with potential exhaustion of selling pressure, rising optimism among Wall Street analysts about the future earnings of ...
Wall Street Analysts Believe VTEX (VTEX) Could Rally 55.66%: Here's is How to Trade
ZACKS· 2024-10-04 22:56
Shares of VTEX (VTEX) have gained 6.1% over the past four weeks to close the last trading session at $7.15, but there could still be a solid upside left in the stock if short-term price targets of Wall Street analysts are any indication. Going by the price targets, the mean estimate of $11.13 indicates a potential upside of 55.7%. The mean estimate comprises four short-term price targets with a standard deviation of $2.66. While the lowest estimate of $8 indicates an 11.9% increase from the current price le ...
VTEX Stock Declines 7% in a Month: Should Investors Buy the Dip?
ZACKS· 2024-09-21 01:41
VTEX (VTEX) shares have declined 6.9% in the past month, outperforming the Zacks Computer & Technology sector and the Zacks Internet Software industry. While the sector has dropped 2.5%, the industry has returned 1.5% over the same time frame. The dip can be attributed to a challenging macroeconomic environment that negatively impacted top-line growth. In the first half of 2024, Gross Merchandise Volume (GMV) grew 19.8% on a year-over-year adjusted for forex, slower than the 20.9% reported in the same year- ...
Bull Of The Day VTEX (VTEX)
ZACKS· 2024-09-17 02:26
文章核心观点 - VTEX是一家提供软件即服务数字商务平台的公司,帮助企业品牌和零售商制定商务策略、建立在线商店并销售产品或服务 [1][2] - VTEX是一家Zacks排名第1(强烈买入)的公司,其价值评分为F,增长评分为B [1] 公司概况 - VTEX成立于2000年,总部位于英国伦敦,由Geraldo do Carmo Thomaz Junior和Mariano Gomide de Faria创立 [2] - VTEX的数字商务平台可以帮助客户执行商务策略,包括建立在线商店、整合和管理跨渠道订单,以及创建第三方卖家的市场 [2] 财务表现 - VTEX过去4个季度持续超越市场预期,平均正面盈利惊喜达177% [3] - 公司年度盈利预测不断上调,本年度由亏损转为盈利,明年预计增长16%至234百万美元,后年增长19.5%至279百万美元 [4] 估值分析 - VTEX的市盈率为108倍,较高但符合刚实现盈利的公司特点 [5] - 市净率为5倍,考虑到公司的轻资产模式和高增长,这个估值水平相对较低 [5] - 公司毛利率正在不断提升,从-6.5%改善至1.5%,有助于未来盈利的进一步增长 [5]
Here's Why VTEX (VTEX) Could be Great Choice for a Bottom Fisher
ZACKS· 2024-09-10 22:56
The price trend for VTEX (VTEX) has been bearish lately and the stock has lost 5.1% over the past week. However, the formation of a hammer chart pattern in its last trading session indicates that the stock could witness a trend reversal soon, as bulls might have gained significant control over the price to help it find support. The formation of a hammer pattern is considered a technical indication of nearing a bottom with likely subsiding of selling pressure. But this is not the only factor that makes a bul ...