VTEX (NYSE:VTEX) Q1 2024 Earnings Conference Call May 7, 2024 4:30 PM ET

Company Participants

Julia Vater Fernandez - Investor Relations Director
Geraldo do Carmo Thomaz Junior - Founder and Co-Chief Executive Officer
Ricardo Camatta Sodre - Chief Financial Officer
Mariano Gomide de Faria - Founder and Co-Chief Executive Officer

Conference Call Participants

Thiago Kapulskis - Banco Itau BBA
Maddie Schrage - KeyBanc Capital Markets
Luca Brendon - Bank of America

Operator

Thank you for standing by and welcome to the VTEX First Quarter 2024 Financial Results Conference Call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question-and-answer session. [Operator Instructions] Thank you.

I'd now like to turn the call over to Julia Vater Fernandez, Investor Relations Director. You may begin.

Julia Vater Fernandez

Hello, everyone, and welcome to the VTEX earnings conference call for the quarter ended March 31st, 2024. I'm Julia Vater Fernandez, Investor Relations Director for VTEX. Our senior executives presenting today are Geraldo Thomaz Junior, Founder and Co-CEO; and Ricardo Camatta Sodre, Chief Financial Officer.

Additionally, Mariano Gomide de Faria, Founder and Co-CEO and Andre Spolidoro, Chief Strategy Officer, will be available during today's Q&A session. I would like to remind you that management may make forward-looking statements related to such matters as continued growth prospects for the company, industry trends and product and technology initiatives.

These statements are based on currently available information and our current assumptions, expectations and projections about future events. While we believe that our assumptions, expectations and projections are reasonable in view of the current available information, you are cautioned not to place undue reliance on these forward-looking statements.

Certain risks and uncertainties are described in the Risk Factors and forward-looking statements sections of VTEX Form 20-F for the year ended December 31st, 2023, and other VTEX filings within the US Securities and Exchange Commission, which are available in our Investor Relations website.

Finally, I would like to remind you that during the course of this conference call, we may discuss some non-GAAP measures. A reconciliation of those measures to the nearest comparable GAAP measures can be found in our first quarter 2024 earnings press release available on our Investor Relations website.

Now let me turn the call over to Geraldo. Geraldo, the floor is yours.

Geraldo do Carmo Thomaz Junior

Thank you, Julia. Welcome everyone and thanks for joining our first quarter 2024 earnings conference call. As we step into 2024, despite macroeconomics uncertainties, our GMV continue to outperform the market, growing 22% year-over-year. Slightly above that our revenue grew 25% year-over-year in the first quarter of 2024.