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v3.22.4

Consolidated balance sheets - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021
--- | --- | ---
Current assets |  |  |
Cash and cash equivalents |  | $ 24,394 | $ 121,006
Restricted cash | [1] | 1,608 | 1,183
Marketable securities and short-term investments |  | 214,164 | 177,191
Trade receivables |  | 36,844 | 34,682
Recoverable taxes |  | 5,122 | 6,881
Deferred commissions |  | 663 | 263
Prepaid expenses |  | 4,152 | 7,911
Derivative financial instruments |  | 117 | 0
Other current assets |  | 93 | 399
Total current assets |  | 287,157 | 349,516
Non-current assets |  |  |
Trade receivables |  | 5,432 | 6,143
Deferred tax assets |  | 17,710 | 12,572
Prepaid expenses |  | 204 | 343
Recoverable taxes |  | 3,334 | 556
Deferred commissions |  | 1,790 | 1,246
Other non-current assets |  | 957 | 435
Right-of-use assets |  | 4,818 | 5,183
Property and equipment, net |  | 3,909 | 4,711
Intangible assets, net |  | 31,210 | 33,644
Investments in joint venture |  | 1,152 | 621
Total non-current assets |  | 70,516 | 65,454
Total assets |  | 357,673 | 414,970
Current liabilities |  |  |
Accounts payable and accrued expenses |  | 34,136 | 29,537
Loans and financing |  | 1,153 | 2,087
Taxes payable |  | 4,128 | 5,035
Lease liabilities |  | 1,898 | 1,105
Deferred revenue |  | 20,332 | 16,598
Derivative financial instruments |  | 0 | 133
Accounts payable from acquisition of subsidiaries |  | 299 | 4,260
Other current liabilities |  | 70 | 133
Total current liabilities |  | 62,016 | 58,888
Non-current liabilities |  |  |
Accounts payable and accrued expenses |  | 511 | 1,977
Loans and financing |  | 0 | 1,192
Taxes payable |  | 160 | 160
Lease liabilities |  | 3,737 | 4,886
Accounts payable from acquisition of subsidiaries |  | 0 | 2,163
Deferred revenue |  | 13,923 | 16,204
Deferred tax liabilities |  | 2,464 | 2,045
Other non-current liabilities |  | 185 | 266
Total non-current liabilities |  | 20,980 | 28,893
EQUITY |  |  |
Issued Capital |  | 19 | 19
Capital reserve |  | 390,885 | 390,466
Other reserves |  | 127 | 652
Accumulated losses |  | (116,373) | (63,955)
Equity attributable to VTEX's shareholders |  | 274,658 | 327,182
Non-controlling interests |  | 19 | 7
Total shareholders' equity |  | 274,677 | 327,189
Total liabilities and equity |  | $ 357,673 | $ 414,970
[1] | As at December 31, 2022, the restricted cash includes US$608 (December 31, 2021 - US$1,183 ), 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 Itaú loans. Refer to note 16 for additional details. The restricted cash also includes US$1,000 (December 31, 2021 – US$0) related to guarantees used to increase the Group’s corporate credit cards limits.

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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 2022-03-24 -Paragraph 12 -Subparagraph f -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2022-en-r&anchor=para_12_f&doctype=Standard -URIDate 2022-03-24 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 10 -IssueDate 2022-03-24 -Paragraph 22 -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=10&code=ifrs-tx-2022-en-r&anchor=para_22&doctype=Standard -URIDate 2022-03-24 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 1 -IssueDate 2022-03-24 -Paragraph 54 -Subparagraph q -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2022-en-r&anchor=para_54_q&doctype=Standard -URIDate 2022-03-24 + Details
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- Definition The amount of non-current lease liabilities. [Refer: Lease liabilities] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 16 -IssueDate 2022-03-24 -Paragraph 47 -Subparagraph b -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=16&code=ifrs-tx-2022-en-r&anchor=para_47_b&doctype=Standard -URIDate 2022-03-24 + Details
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- Definition The amount of liabilities that do not meet the definition of current liabilities. [Refer: Current liabilities] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 12 -IssueDate 2022-03-24 -Paragraph B12 -Subparagraph b -Clause iv -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2022-en-r&anchor=para_B12_b_iv&doctype=Appendix&subtype=B -URIDate 2022-03-24 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Name IFRS -Number 12 -IssueDate 2022-03-24 -Paragraph B10 -Subparagraph b -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2022-en-r&anchor=para_B10_b&doctype=Appendix&subtype=B -URIDate 2022-03-24 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 1 -IssueDate 2022-03-24 -Paragraph 69 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2022-en-r&anchor=para_69&doctype=Standard -URIDate 2022-03-24 + Details
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- Definition The amount of non-current trade receivables. [Refer: Trade receivables] + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Name IAS -Number 1 -IssueDate 2022-03-24 -Paragraph 78 -Subparagraph b -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2022-en-r&anchor=para_78_b&doctype=Standard -URIDate 2022-03-24 + 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 2022-03-24 -Paragraph 55 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2022-en-r&anchor=para_55&doctype=Standard -URIDate 2022-03-24 + Details
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- Definition The amount of current liabilities that the entity does not separately disclose in the same statement or note. [Refer: Current liabilities] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2022-03-24 -Paragraph 55 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2022-en-r&anchor=para_55&doctype=Standard -URIDate 2022-03-24 + Details
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- Definition The amount of non-current assets that the entity does not separately disclose in the same statement or note. [Refer: Non-current assets] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2022-03-24 -Paragraph 55 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2022-en-r&anchor=para_55&doctype=Standard -URIDate 2022-03-24 + Details
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- Definition The amount of non-current liabilities that the entity does not separately disclose in the same statement or note. [Refer: Non-current liabilities] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2022-03-24 -Paragraph 55 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2022-en-r&anchor=para_55&doctype=Standard -URIDate 2022-03-24 + 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 2022-03-24 -Paragraph 78 -Subparagraph e -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2022-en-r&anchor=para_78_e&doctype=Standard -URIDate 2022-03-24 + Details
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- Definition The amount of tangible assets that: (a) are held for use in the production or supply of goods or services, for rental to others, or for administrative purposes; and (b) are expected to be used during more than one period. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 16 -IssueDate 2022-03-24 -Paragraph 73 -Subparagraph e -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=16&code=ifrs-tx-2022-en-r&anchor=para_73_e&doctype=Standard -URIDate 2022-03-24 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 1 -IssueDate 2022-03-24 -Paragraph 54 -Subparagraph a -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2022-en-r&anchor=para_54_a&doctype=Standard -URIDate 2022-03-24 + Details
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- Definition The amount of cash and cash equivalents whose use or withdrawal is restricted. [Refer: Cash and cash equivalents] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2022-03-24 -Paragraph 55 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2022-en-r&anchor=para_55&doctype=Standard -URIDate 2022-03-24 + Details
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- Definition The amount of assets that represent a lessee's right to use an underlying asset for the lease term. Underlying asset is an asset that is the subject of a lease, for which the right to use that asset has been provided by a lessor to a lessee. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 16 -IssueDate 2022-03-24 -Paragraph 53 -Subparagraph j -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=16&code=ifrs-tx-2022-en-r&anchor=para_53_j&doctype=Standard -URIDate 2022-03-24 + Details
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- Definition The amount of current borrowings. [Refer: Borrowings] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2022-03-24 -Paragraph 55 -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2022-en-r&anchor=para_55&doctype=Standard -URIDate 2022-03-24 + Details
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