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v3.22.0.1

Consolidated balance sheets - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020
--- | --- | ---
Current assets |  |  |
Cash and cash equivalents |  | $ 121,006 | $ 58,557
Restricted cash | [1] | 1,183 | 1,429
Marketable securities and short-term investments |  | 177,191 | 16,969
Trade receivables |  | 34,682 | 24,491
Recoverable taxes |  | 6,881 | 4,071
Deferred commissions |  | 263 | 438
Prepaid expenses |  | 7,911 | 2,379
Derivative financial instruments |  | 0 | 174
Other current assets |  | 399 | 223
Total current assets |  | 349,516 | 108,731
Non-current assets |  |  |
Trade receivables |  | 6,143 | 0
Deferred tax assets |  | 12,572 | 2,174
Prepaid expenses |  | 343 | 3,134
Recoverable taxes |  | 556 | 674
Deferred commissions |  | 1,246 | 389
Other non-current assets |  | 435 | 53
Right-of-use assets |  | 5,183 | 5,076
Property and equipment, net |  | 4,711 | 4,551
Intangible assets, net |  | 33,644 | 15,093
Investments in joint venture |  | 621 | 136
Total non-current assets |  | 65,454 | 31,280
Total assets |  | 414,970 | 140,011
Current liabilities |  |  |
Accounts payable and accrued expenses |  | 29,537 | 20,709
Loans and financing |  | 2,087 | 1,585
Taxes payable |  | 5,035 | 6,790
Lease liabilities |  | 1,105 | 850
Deferred revenue |  | 16,598 | 14,170
Derivative financial instruments |  | 133 | 0
Accounts payable from acquisition of subsidiaries |  | 4,260 | 2,794
Other current liabilities |  | 133 | 159
Total current liabilities |  | 58,888 | 47,057
Non-current liabilities |  |  |
Accounts payable and accrued expenses |  | 1,977 | 0
Loans and financing |  | 1,192 | 4,774
Taxes payable |  | 160 | 0
Lease liabilities |  | 4,886 | 5,303
Accounts payable from acquisition of subsidiaries |  | 2,163 | 1,206
Deferred revenue |  | 16,204 | 5,005
Deferred tax liabilities |  | 2,045 | 731
Other |  | 266 | 187
Total non-current liabilities |  | 28,893 | 17,206
EQUITY |  |  |
Issued capital |  | 19 | 17
Capital reserve |  | 390,466 | 78,945
Other reserves |  | 652 | 104
Accumulated losses |  | (63,955) | (3,444)
Equity attributable to VTEX's shareholders |  | 327,182 | 75,622
Non-controlling interests |  | 7 | 126
Total shareholders' equity |  | 327,189 | 75,748
Total liabilities and equity |  | $ 414,970 | $ 140,011
[1] | As of December 31, 2021, the restricted cash includes US$ 1,183 (December 31, 2020—US$ 1,429), which Itaú Bank in Brazil holds. These deposits are not available for use by the other entities within the Group. This amount refers to the guarantee granted related to BNDES and Itau loans. Refer to note 16 for additional details.

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- Definition The amount of equity in a subsidiary not attributable, directly or indirectly, to a parent. [Refer: Subsidiaries [member]] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 12 -IssueDate 2021-01-01 -Paragraph 12 -Subparagraph f -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2021-en-r&anchor=para_12_f&doctype=Standard -URIDate 2021-03-24 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 1 -IssueDate 2021-01-01 -Paragraph 54 -Subparagraph q -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2021-en-r&anchor=para_54_q&doctype=Standard -URIDate 2021-03-24 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 10 -IssueDate 2021-01-01 -Paragraph 22 -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=10&code=ifrs-tx-2021-en-r&anchor=para_22&doctype=Standard -URIDate 2021-03-24 + Details
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- Definition The amount of current assets that the entity does not separately disclose in the same statement or note. [Refer: Current assets] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2021-01-01 -Paragraph 55 -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2021-en-r&anchor=para_55&doctype=Standard -URIDate 2021-03-24 + Details
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- Definition A component of equity representing reserves within equity, not including retained earnings. [Refer: Retained earnings] + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Name IAS -Number 1 -IssueDate 2021-01-01 -Paragraph 78 -Subparagraph e -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2021-en-r&anchor=para_78_e&doctype=Standard -URIDate 2021-03-24 + Details
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