Cesar Medina's questions to VTEX (VTEX) leadership • Q3 2024
Question
Cesar Medina from Morgan Stanley asked for more context on the company's strong new contract signature momentum, seeking color on the drivers, sectors, and regional mix behind the acceleration.
Answer
Mariano Gomide de Faria, Founder and Co-CEO, attributed the momentum to VTEX's low TCO and flexible platform, which is attracting legacy and homegrown system migrations in Brazil, like Fast Shop and Bemol. He also cited B2B growth and expansion in the U.S. and Europe with clients like Hearst and Colgate. Ricardo Sodre, CFO, added that while the increase in deferred revenue reflects this momentum, a longer contract duration meant the duration-adjusted increase was more modest, though still solid.