Maria Infantozzi's questions to VTEX (VTEX) leadership • Q1 2025
Question
Maria Infantozzi requested more color on the subscription revenue composition by geography and category, and asked about the economics of the Retail Ads Media business and its impact on the 2025 guidance.
Answer
Co-Founder and Co-CEO Geraldo Thomaz Jr. provided qualitative color, noting that new customer go-lives like Americanas in Brazil are contributing to growth, but declined to give a specific breakdown. Regarding retail media, he explained that the business is not yet material but is growing rapidly after the Newtail acquisition, which added nearly 400 advertisers to the network, creating a strong competitive position for future monetization.