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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.