<SEC-DOCUMENT>0001157523-23-001666.txt : 20231107
<SEC-HEADER>0001157523-23-001666.hdr.sgml : 20231107
<ACCEPTANCE-DATETIME>20231107160138
ACCESSION NUMBER:		0001157523-23-001666
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20231107
FILED AS OF DATE:		20231107
DATE AS OF CHANGE:		20231107

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			VTEX
		CENTRAL INDEX KEY:			0001793663
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-PREPACKAGED SOFTWARE [7372]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-40626
		FILM NUMBER:		231383554

	BUSINESS ADDRESS:	
		STREET 1:		C/O CAMPBELLS CORPORATE SERVICES LIMITED
		STREET 2:		FLOOR 4, WILLOW HOUSE, CRICKET SQUARE
		CITY:			GRAND CAYMAN
		STATE:			E9
		ZIP:			KY1-9010
		BUSINESS PHONE:		0000000000

	MAIL ADDRESS:	
		STREET 1:		C/O CAMPBELLS CORPORATE SERVICES LIMITED
		STREET 2:		FLOOR 4, WILLOW HOUSE, CRICKET SQUARE
		CITY:			GRAND CAYMAN
		STATE:			E9
		ZIP:			KY1-9010
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>a53709336.htm
<DESCRIPTION>VTEX 6-K
<TEXT>
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    <div style="text-align: center; margin-right: 32.299pt; margin-left: 32.95pt; font-family: 'Times New Roman',Times,serif; font-size: 16pt; font-weight: bold;">UNITED STATES</div>
    <div style="text-align: center; margin-right: 32.299pt; margin-left: 33.1pt; font-family: 'Times New Roman',Times,serif; font-size: 16pt; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</div>
    <div style="text-align: center; margin-right: 32.299pt; margin-left: 33.15pt; font-family: 'Times New Roman',Times,serif; font-weight: bold;">Washington, D.C. 20549</div>
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    <div style="text-align: center; margin-right: 32.299pt; margin-left: 33.1pt; font-family: 'Times New Roman',Times,serif; font-size: 16pt; font-weight: bold;">FORM 6-K</div>
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    </div>
    <div style="text-align: center; text-indent: 0.15pt; font-family: 'Times New Roman',Times,serif; font-weight: bold;">REPORT OF FOREIGN PRIVATE ISSUER</div>
    <div style="text-align: center; text-indent: 0.15pt; font-family: 'Times New Roman',Times,serif; font-weight: bold;">PURSUANT TO RULE 13a-16 OR 15d-16 UNDER</div>
    <div style="text-align: center; text-indent: 0.15pt; font-family: 'Times New Roman',Times,serif; font-weight: bold;">THE SECURITIES EXCHANGE ACT OF 1934</div>
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    <div style="text-align: center; margin-right: 32.299pt; margin-left: 31.05pt; font-family: 'Times New Roman',Times,serif;">For the month of November 2023.</div>
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    <div style="text-align: center; margin-right: 32.299pt; margin-left: 33.05pt; font-family: 'Times New Roman',Times,serif;">Commission File Number 001-40626</div>
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    <div style="text-align: center; margin-right: 32.299pt; margin-left: 33.1pt; font-family: 'Times New Roman',Times,serif; font-size: 16pt; font-weight: bold;">VTEX</div>
    <div style="text-align: center; margin-right: 32.299pt; margin-left: 33.25pt; font-family: 'Times New Roman',Times,serif;">(Exact name of registrant as specified in its charter)</div>
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    <div style="text-align: center; margin-right: 32.299pt; margin-left: 33.15pt; font-family: 'Times New Roman',Times,serif; font-weight: bold;">N/A</div>
    <div style="text-align: center; margin-right: 32.299pt; margin-left: 33.1pt; font-family: 'Times New Roman',Times,serif;">(Translation of registrant&#8217;s name into English)</div>
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    <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-weight: bold;">125 Kingsway, WC2B 6NH</div>
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    <div style="margin-left: 7.55pt; font-family: 'Times New Roman',Times,serif;">Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.</div>
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    <font style="font-family: 'Times New Roman',Times,serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Form 20-F &#9746;</font><font class="TRGRRTFtoHTMLTab" style="text-indent: 0px; font-family: 'Times New Roman',Times,serif;">&#160; &#160; &#160; &#160; &#160;&#160;&#160; </font><font style="font-family: 'Times New Roman',Times,serif;">Form 40-F &#9744;</font>
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    <div style="margin-left: 7.55pt; font-family: 'Times New Roman',Times,serif;">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): &#9744;</div>
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      <div style="text-align: center; font-weight: bold;">Table of Contents</div>
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      <div>&#160;</div>
      <div>
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            <tr>
              <td style="width: 66%; font-weight: bold;">PART I - FINANCIAL INFORMATION</td>
              <td style="width: 34%; text-align: right;"><font style="font-weight: bold;">3</font><br>
              </td>
            </tr>

        </table>
      </div>
      <div>
        <div><br>
        </div>
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              <td style="width: 1%; font-weight: bold;" colspan="1">&#160;</td>
              <td style="width: 65%; font-weight: bold;">Item 1 - Financial Statements</td>
              <td style="width: 34%; text-align: right;"><font style="font-weight: bold;">3</font><br>
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        <br>
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              <td style="width: 2%; font-weight: bold;" colspan="1">&#160;</td>
              <td style="width: 64%; font-weight: bold;">Condensed consolidated interim balance sheets<font class="TRGRRTFtoHTMLTab" style="text-indent: 0px; font-size: 6pt;"><br>
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              <td style="width: 34%; font-weight: bold; text-align: right;">4<br>
              </td>
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            <td style="width: 2%; font-weight: bold;" colspan="1">&#160;</td>
            <td style="width: 64%; font-weight: bold;">Condensed consolidated interim statements of profit or loss</td>
            <td style="width: 34%; font-weight: bold; text-align: right;">6<br>
            </td>
          </tr>

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      </div>
      <div>
        <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;">

            <tr>
              <td style="width: 2%; font-weight: bold;" colspan="1">&#160;</td>
              <td style="width: 64%; font-weight: bold;">Condensed consolidated interim statements of changes in shareholder&#8217;s equity</td>
              <td style="width: 34%; font-weight: bold; text-align: right;">7<br>
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          <tr>
            <td style="width: 2%; font-weight: bold;" colspan="1">&#160;</td>
            <td style="width: 64%; font-weight: bold;">Condensed consolidated interim statements of cash flows</td>
            <td style="width: 34%; font-weight: bold; text-align: right;">8<br>
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            <td style="width: 2%; font-weight: bold;" colspan="1">&#160;</td>
            <td style="width: 64%; font-weight: bold;">Notes to condensed consolidated interim financial statements</td>
            <td style="width: 34%; font-weight: bold; text-align: right;">9<br>
            </td>
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            <td style="width: 1%; font-weight: bold;" colspan="1">&#160;</td>
            <td style="width: 65%; font-weight: bold;">Item 2 - Management&#8217;s discussion and analysis of financial condition and results of operations</td>
            <td style="width: 34%; text-align: right;"><font style="font-weight: bold;">30</font><br>
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            <td style="width: 66%; font-weight: bold;">PART II - OTHER INFORMATION</td>
            <td style="width: 34%; text-align: right;"><font style="font-weight: bold;">42</font><br>
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            <td style="width: 1%; font-weight: bold;" colspan="1">&#160;</td>
            <td style="width: 65%; font-weight: bold;">Item 1 - Signatures</td>
            <td style="width: 34%; text-align: right;"><font style="font-weight: bold;">42</font><br>
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      <div>&#160;</div>
      <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-weight: bold;">PART I - FINANCIAL INFORMATION</div>
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      <div><font style="font-family: 'Times New Roman',Times,serif; font-weight: bold;">Item 1 -</font><font class="TRGRRTFtoHTMLTab" style="text-indent: 0px;"> </font><font style="font-family: 'Times New Roman',Times,serif; font-weight: bold;">Financial
          Statements</font></div>
      <div>&#160;</div>
      <div> <br>
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      <div> <br>
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      <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-weight: bold;">Index to Financial Statements</div>
      <div>&#160;</div>
      <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-weight: bold;">VTEX</div>
      <div>&#160;</div>
      <div>&#160;</div>
      <div style="font-weight: bold;">Condensed c<font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">onsolidated interim financial statements</font></div>
      <div>&#160;</div>
      <div>Condensed c<font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">onsolidated </font>interim <font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">balance sheets</font></div>
      <div>&#160;</div>
      <div>Condensed c<font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">onsolidated </font>interim <font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">statements of profit or loss</font></div>
      <div>&#160;</div>
      <div>Condensed c<font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">onsolidated </font>interim <font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">statements of changes in shareholder&#8217;s equity</font></div>
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      <div>Condensed c<font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">onsolidated </font>interim <font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">statements of cash flows</font></div>
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      <div><font style="color: #000000;">Notes to the </font>condensed c<font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">onsolidated </font>interim <font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">financial statements</font></div>
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                  <td style="width: 53%; vertical-align: bottom;">&#160;</td>
                  <td style="width: 7.72%; vertical-align: middle;">&#160;</td>
                  <td style="width: 19.33%; vertical-align: bottom; border-bottom: #000000 2px solid;">
                    <div style="text-align: right; color: #000000; font-weight: bold;">September&#160;30,&#160;2023</div>
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                  <td style="width: 1.27%; vertical-align: bottom;">&#160;</td>
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                    <div style="text-align: right; color: #000000; font-weight: bold;">December&#160;31,&#160;2022</div>
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                </tr>
                <tr>
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                  <td style="width: 7.72%; vertical-align: middle;">&#160;</td>
                  <td style="width: 19.33%; vertical-align: bottom; border-top: #000000 2px solid;">&#160;</td>
                  <td style="width: 1.27%; vertical-align: bottom;">&#160;</td>
                  <td style="width: 19.33%; vertical-align: bottom; border-top: #000000 2px solid;">&#160;</td>
                </tr>
                <tr>
                  <td style="width: 53%; vertical-align: bottom;">
                    <div style="color: #000000; font-weight: bold;">Current&#160;assets</div>
                  </td>
                  <td style="width: 7.72%; vertical-align: middle;">&#160;</td>
                  <td style="width: 19.33%; vertical-align: bottom;">&#160;</td>
                  <td style="width: 1.27%; vertical-align: bottom;">&#160;</td>
                  <td style="width: 19.33%; vertical-align: bottom;">&#160;</td>
                </tr>
                <tr>
                  <td style="width: 53%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                    <div style="color: #000000;">Cash&#160;and&#160;cash&#160;equivalents</div>
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                  <td style="width: 7.72%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 19.33%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
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                  <td style="width: 1.27%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
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                    <div style="text-align: right; color: #000000;">24,394</div>
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                <tr>
                  <td style="width: 53%; vertical-align: bottom;">
                    <div style="color: #000000;">Restricted&#160;cash</div>
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                  <td style="width: 7.72%; vertical-align: middle;">&#160;</td>
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                <tr>
                  <td style="width: 53%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
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                  <td style="width: 7.72%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
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                    <div style="text-align: right; color: #000000;">192,405</div>
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                  <td style="width: 19.33%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                    <div style="text-align: right; color: #000000;">214,164</div>
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                <tr>
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                  <td style="width: 7.72%; vertical-align: middle;">&#160;</td>
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                    <div style="text-align: right; color: #000000;">41,591</div>
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                  <td style="width: 19.33%; vertical-align: bottom;">
                    <div style="text-align: right; color: #000000;">36,844</div>
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                  <td style="width: 53%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                    <div style="color: #000000;">Recoverable&#160;taxes</div>
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                  <td style="width: 7.72%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 19.33%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                    <div style="text-align: right; color: #000000;">3,762</div>
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                  <td style="width: 1.27%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 19.33%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                    <div style="text-align: right; color: #000000;">5,122</div>
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                <tr>
                  <td style="width: 53%; vertical-align: bottom;">
                    <div style="color: #000000;">Deferred&#160;commissions</div>
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                  <td style="width: 7.72%; vertical-align: middle;">&#160;</td>
                  <td style="width: 19.33%; vertical-align: bottom;">
                    <div style="text-align: right; color: #000000;">937</div>
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                  <td style="width: 19.33%; vertical-align: bottom;">
                    <div style="text-align: right; color: #000000;">663</div>
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                <tr>
                  <td style="width: 53%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
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                  <td style="width: 7.72%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 19.33%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                    <div style="text-align: right; color: #000000;">4,291</div>
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                  <td style="width: 1.27%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 19.33%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                    <div style="text-align: right; color: #000000;">4,152</div>
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                <tr>
                  <td style="width: 53%; vertical-align: bottom;">
                    <div style="color: #000000;">Derivative&#160;financial&#160;instruments</div>
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                  <td style="width: 7.72%; vertical-align: middle;">&#160;</td>
                  <td style="width: 19.33%; vertical-align: bottom;">
                    <div style="text-align: right; color: #000000;">287</div>
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                  <td style="width: 1.27%; vertical-align: bottom;">&#160;</td>
                  <td style="width: 19.33%; vertical-align: bottom;">
                    <div style="text-align: right; color: #000000;">117</div>
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                <tr>
                  <td style="width: 53%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                    <div style="color: #000000;">Other&#160;current&#160;assets</div>
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                  <td style="width: 7.72%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 19.33%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                    <div style="text-align: right; color: #000000;">60</div>
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                  <td style="width: 1.27%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 19.33%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                    <div style="text-align: right; color: #000000;">93</div>
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                </tr>
                <tr>
                  <td style="width: 53%; vertical-align: bottom;">
                    <div style="color: #000000; font-weight: bold;">Total&#160;current&#160;assets</div>
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                  <td style="width: 7.72%; vertical-align: middle;">&#160;</td>
                  <td style="width: 19.33%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
                    <div style="text-align: right; color: #000000; font-weight: bold;">264,634</div>
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                  <td style="width: 1.27%; vertical-align: bottom;">&#160;</td>
                  <td style="width: 19.33%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
                    <div style="text-align: right; color: #000000; font-weight: bold;">287,157</div>
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                <tr>
                  <td style="width: 53%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 7.72%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 19.33%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 1.27%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 19.33%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
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                <tr>
                  <td style="width: 53%; vertical-align: bottom;">
                    <div style="color: #000000; font-weight: bold;">Non-current&#160;assets</div>
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                  <td style="width: 7.72%; vertical-align: middle;">&#160;</td>
                  <td style="width: 19.33%; vertical-align: bottom;">&#160;</td>
                  <td style="width: 1.27%; vertical-align: bottom;">&#160;</td>
                  <td style="width: 19.33%; vertical-align: bottom;">&#160;</td>
                </tr>
                <tr>
                  <td style="width: 53%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                    <div style="color: #000000;">Trade&#160;receivables</div>
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                  <td style="width: 7.72%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 19.33%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                    <div style="text-align: right; color: #000000;">5,920</div>
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                  <td style="width: 1.27%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 19.33%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                    <div style="text-align: right; color: #000000;">5,432</div>
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                </tr>
                <tr>
                  <td style="width: 53%; vertical-align: bottom;">
                    <div style="color: #000000;">Deferred&#160;tax&#160;assets</div>
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                  <td style="width: 7.72%; vertical-align: middle;">&#160;</td>
                  <td style="width: 19.33%; vertical-align: bottom;">
                    <div style="text-align: right; color: #000000;">20,731</div>
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                  <td style="width: 1.27%; vertical-align: bottom;">&#160;</td>
                  <td style="width: 19.33%; vertical-align: bottom;">
                    <div style="text-align: right; color: #000000;">17,710</div>
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                </tr>
                <tr>
                  <td style="width: 53%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                    <div style="color: #000000;">Prepaid&#160;expenses</div>
                  </td>
                  <td style="width: 7.72%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 19.33%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                    <div style="text-align: right; color: #000000;">105</div>
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                  <td style="width: 1.27%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 19.33%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                    <div style="text-align: right; color: #000000;">204</div>
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                </tr>
                <tr>
                  <td style="width: 53%; vertical-align: bottom;">
                    <div style="color: #000000;">Recoverable&#160;taxes</div>
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                  <td style="width: 7.72%; vertical-align: middle;">&#160;</td>
                  <td style="width: 19.33%; vertical-align: bottom;">
                    <div style="text-align: right; color: #000000;">4,174</div>
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                  <td style="width: 1.27%; vertical-align: bottom;">&#160;</td>
                  <td style="width: 19.33%; vertical-align: bottom;">
                    <div style="text-align: right; color: #000000;">3,334</div>
                  </td>
                </tr>
                <tr>
                  <td style="width: 53%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                    <div style="color: #000000;">Deferred&#160;commissions</div>
                  </td>
                  <td style="width: 7.72%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 19.33%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                    <div style="text-align: right; color: #000000;">2,769</div>
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                  <td style="width: 1.27%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 19.33%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                    <div style="text-align: right; color: #000000;">1,790</div>
                  </td>
                </tr>
                <tr>
                  <td style="width: 53%; vertical-align: bottom;">
                    <div style="color: #000000;">Other&#160;non-current&#160;assets</div>
                  </td>
                  <td style="width: 7.72%; vertical-align: middle;">&#160;</td>
                  <td style="width: 19.33%; vertical-align: bottom;">
                    <div style="text-align: right; color: #000000;">947</div>
                  </td>
                  <td style="width: 1.27%; vertical-align: bottom;">&#160;</td>
                  <td style="width: 19.33%; vertical-align: bottom;">
                    <div style="text-align: right; color: #000000;">957</div>
                  </td>
                </tr>
                <tr>
                  <td style="width: 53%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                    <div style="color: #000000;">Right-of-use&#160;assets</div>
                  </td>
                  <td style="width: 7.72%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 19.33%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                    <div style="text-align: right; color: #000000;">3,658</div>
                  </td>
                  <td style="width: 1.27%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 19.33%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                    <div style="text-align: right; color: #000000;">4,818</div>
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                </tr>
                <tr>
                  <td style="width: 53%; vertical-align: bottom;">
                    <div style="color: #000000;">Property&#160;and&#160;equipment,&#160;net</div>
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                  <td style="width: 7.72%; vertical-align: middle;">&#160;</td>
                  <td style="width: 19.33%; vertical-align: bottom;">
                    <div style="text-align: right; color: #000000;">3,127</div>
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                  <td style="width: 1.27%; vertical-align: bottom;">&#160;</td>
                  <td style="width: 19.33%; vertical-align: bottom;">
                    <div style="text-align: right; color: #000000;">3,909</div>
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                </tr>
                <tr>
                  <td style="width: 53%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                    <div style="color: #000000;">Intangible&#160;assets,&#160;net</div>
                  </td>
                  <td style="width: 7.72%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 19.33%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                    <div style="text-align: right; color: #000000;">30,173</div>
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                  <td style="width: 1.27%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 19.33%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                    <div style="text-align: right; color: #000000;">31,210</div>
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                <tr>
                  <td style="width: 53%; vertical-align: bottom;">
                    <div style="color: #000000;">Investments&#160;in&#160;joint&#160;venture</div>
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                  <td style="width: 7.72%; vertical-align: middle;">&#160;</td>
                  <td style="width: 19.33%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                    <div style="text-align: right; color: #000000;">1,061</div>
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                  <td style="width: 1.27%; vertical-align: bottom;">&#160;</td>
                  <td style="width: 19.33%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                    <div style="text-align: right; color: #000000;">1,152</div>
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                </tr>
                <tr>
                  <td style="width: 53%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                    <div style="color: #000000; font-weight: bold;">Total&#160;non-current&#160;assets</div>
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                  <td style="width: 7.72%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 19.33%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                    <div style="text-align: right; color: #000000; font-weight: bold;">72,665</div>
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                  <td style="width: 1.27%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 19.33%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                    <div style="text-align: right; color: #000000; font-weight: bold;">70,516</div>
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                <tr>
                  <td style="width: 53%; vertical-align: bottom;">
                    <div style="color: #000000; font-weight: bold;">Total&#160;assets</div>
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                  <td style="width: 7.72%; vertical-align: middle;">&#160;</td>
                  <td style="width: 19.33%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
                    <div style="text-align: right; color: #000000; font-weight: bold;">337,299</div>
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                  <td style="width: 1.27%; vertical-align: bottom;">&#160;</td>
                  <td style="width: 19.33%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
                    <div style="text-align: right; color: #000000; font-weight: bold;">357,673</div>
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            <div><br>
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              <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-family: 'Times New Roman', Times, serif; font-weight: normal; font-style: normal;" class="BRPFPageNumber">4</font></div>
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            <table cellspacing="0" cellpadding="0" id="zbf9ebab0b68b4400a3398040cb33ba81" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

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                  <td style="width: 52.45%; vertical-align: bottom;">&#160;</td>
                  <td style="width: 7.65%; vertical-align: middle;">&#160;</td>
                  <td style="width: 19.32%; vertical-align: bottom; border-bottom: #000000 2px solid;">
                    <div style="text-align: right; color: #000000; font-weight: bold;">September&#160;30,&#160;2023</div>
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                  <td style="width: 1.27%; vertical-align: bottom;">&#160;</td>
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                    <div style="text-align: right; color: #000000; font-weight: bold;">December&#160;31,&#160;2022</div>
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                <tr>
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                  <td style="width: 7.65%; vertical-align: middle;">&#160;</td>
                  <td style="width: 19.32%; vertical-align: bottom; border-top: #000000 2px solid;">&#160;</td>
                  <td style="width: 1.27%; vertical-align: bottom;">&#160;</td>
                  <td style="width: 19.31%; vertical-align: bottom; border-top: #000000 2px solid;">&#160;</td>
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                <tr>
                  <td style="width: 52.45%; vertical-align: bottom;">
                    <div style="color: #000000; font-weight: bold;">Current&#160;liabilities</div>
                  </td>
                  <td style="width: 7.65%; vertical-align: middle;">&#160;</td>
                  <td style="width: 19.32%; vertical-align: bottom;">&#160;</td>
                  <td style="width: 1.27%; vertical-align: bottom;">&#160;</td>
                  <td style="width: 19.31%; vertical-align: bottom;">&#160;</td>
                </tr>
                <tr>
                  <td style="width: 52.45%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                    <div style="color: #000000;">Accounts&#160;payable&#160;and&#160;accrued&#160;expenses</div>
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                  <td style="width: 7.65%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 19.32%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                    <div style="text-align: right; color: #000000;">36,549</div>
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                  <td style="width: 1.27%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 19.31%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                    <div style="text-align: right; color: #000000;">34,136</div>
                  </td>
                </tr>
                <tr>
                  <td style="width: 52.45%; vertical-align: bottom;">
                    <div style="color: #000000;">Loans&#160;and&#160;financing</div>
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                  <td style="width: 7.65%; vertical-align: middle;">&#160;</td>
                  <td style="width: 19.32%; vertical-align: bottom;">
                    <div style="text-align: right; color: #000000;">-</div>
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                  <td style="width: 1.27%; vertical-align: bottom;">&#160;</td>
                  <td style="width: 19.31%; vertical-align: bottom;">
                    <div style="text-align: right; color: #000000;">1,153</div>
                  </td>
                </tr>
                <tr>
                  <td style="width: 52.45%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                    <div style="color: #000000;">Taxes&#160;payable</div>
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                  <td style="width: 7.65%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 19.32%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                    <div style="text-align: right; color: #000000;">4,124</div>
                  </td>
                  <td style="width: 1.27%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 19.31%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                    <div style="text-align: right; color: #000000;">4,128</div>
                  </td>
                </tr>
                <tr>
                  <td style="width: 52.45%; vertical-align: bottom;">
                    <div style="color: #000000;">Lease&#160;liabilities</div>
                  </td>
                  <td style="width: 7.65%; vertical-align: middle;">&#160;</td>
                  <td style="width: 19.32%; vertical-align: bottom;">
                    <div style="text-align: right; color: #000000;">1,897</div>
                  </td>
                  <td style="width: 1.27%; vertical-align: bottom;">&#160;</td>
                  <td style="width: 19.31%; vertical-align: bottom;">
                    <div style="text-align: right; color: #000000;">1,898</div>
                  </td>
                </tr>
                <tr>
                  <td style="width: 52.45%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                    <div style="color: #000000;">Deferred&#160;revenue</div>
                  </td>
                  <td style="width: 7.65%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 19.32%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                    <div style="text-align: right; color: #000000;">24,366</div>
                  </td>
                  <td style="width: 1.27%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 19.31%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                    <div style="text-align: right; color: #000000;">20,332</div>
                  </td>
                </tr>
                <tr>
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                  <td style="width: 19.31%; vertical-align: bottom;">
                    <div style="text-align: right; color: #000000;">299</div>
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                  <td style="width: 52.45%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
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                  <td style="width: 7.65%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 19.32%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                    <div style="text-align: right; color: #000000;">296</div>
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                  <td style="width: 1.27%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
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                    <div style="text-align: right; color: #000000;">70</div>
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                    <div style="text-align: right; color: #000000; font-weight: bold;">62,016</div>
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                  <td style="width: 52.45%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 7.65%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 19.32%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 1.27%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 19.31%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
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                  <td style="width: 7.65%; vertical-align: middle;">&#160;</td>
                  <td style="width: 19.32%; vertical-align: bottom;">&#160;</td>
                  <td style="width: 1.27%; vertical-align: bottom;">&#160;</td>
                  <td style="width: 19.31%; vertical-align: bottom;">&#160;</td>
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                  <td style="width: 52.45%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
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                  <td style="width: 7.65%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 19.32%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                    <div style="text-align: right; color: #000000;">1,092</div>
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                  <td style="width: 1.27%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 19.31%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                    <div style="text-align: right; color: #000000;">511</div>
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                </tr>
                <tr>
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                    <div style="text-align: right; color: #000000;">160</div>
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                  <td style="width: 52.45%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
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                  <td style="width: 19.32%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                    <div style="text-align: right; color: #000000;">2,817</div>
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                  <td style="width: 1.27%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 19.31%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                    <div style="text-align: right; color: #000000;">3,737</div>
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                <tr>
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                  <td style="width: 19.32%; vertical-align: bottom;">
                    <div style="text-align: right; color: #000000;">16,354</div>
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                    <div style="text-align: right; color: #000000;">13,923</div>
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                <tr>
                  <td style="width: 52.45%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
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                  <td style="width: 7.65%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 19.32%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                    <div style="text-align: right; color: #000000;">3,078</div>
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                  <td style="width: 1.27%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 19.31%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                    <div style="text-align: right; color: #000000;">2,464</div>
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                </tr>
                <tr>
                  <td style="width: 52.45%; vertical-align: bottom;">
                    <div style="color: #000000;">Other&#160;non-current&#160;liabilities</div>
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                  <td style="width: 7.65%; vertical-align: middle;">&#160;</td>
                  <td style="width: 19.32%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                    <div style="text-align: right; color: #000000;">464</div>
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                  <td style="width: 1.27%; vertical-align: bottom;">&#160;</td>
                  <td style="width: 19.31%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
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                </tr>
                <tr>
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                  <td style="width: 7.65%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 19.32%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                    <div style="text-align: right; color: #000000; font-weight: bold;">23,805</div>
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                  <td style="width: 1.27%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 19.31%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                    <div style="text-align: right; color: #000000; font-weight: bold;">20,980</div>
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                </tr>
                <tr>
                  <td style="width: 52.45%; vertical-align: middle;">&#160;</td>
                  <td style="width: 7.65%; vertical-align: middle;">&#160;</td>
                  <td style="width: 19.32%; vertical-align: middle;">&#160;</td>
                  <td style="width: 1.27%; vertical-align: middle;">&#160;</td>
                  <td style="width: 19.31%; vertical-align: middle;">&#160;</td>
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                <tr>
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                  <td style="width: 7.65%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 19.32%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 1.27%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 19.31%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
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                <tr>
                  <td style="width: 52.45%; vertical-align: bottom;">
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                  <td style="width: 7.65%; vertical-align: middle;">&#160;</td>
                  <td style="width: 19.32%; vertical-align: bottom;">
                    <div style="text-align: right; color: #000000;">19</div>
                  </td>
                  <td style="width: 1.27%; vertical-align: bottom;">&#160;</td>
                  <td style="width: 19.31%; vertical-align: bottom;">
                    <div style="text-align: right; color: #000000;">19</div>
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                </tr>
                <tr>
                  <td style="width: 52.45%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
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                  <td style="width: 7.65%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 19.32%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                    <div style="text-align: right; color: #000000;">377,330</div>
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                  <td style="width: 1.27%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 19.31%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                    <div style="text-align: right; color: #000000;">390,885</div>
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                </tr>
                <tr>
                  <td style="width: 52.45%; vertical-align: bottom;">
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                  <td style="width: 7.65%; vertical-align: middle;">&#160;</td>
                  <td style="width: 19.32%; vertical-align: bottom;">
                    <div style="text-align: right; color: #000000;">2,142</div>
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                  <td style="width: 1.27%; vertical-align: bottom;">&#160;</td>
                  <td style="width: 19.31%; vertical-align: bottom;">
                    <div style="text-align: right; color: #000000;">127</div>
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                <tr>
                  <td style="width: 52.45%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
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                  <td style="width: 7.65%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 19.32%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                    <div style="text-align: right; color: #000000;">(133,286)</div>
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                  <td style="width: 1.27%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 19.31%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                    <div style="text-align: right; color: #000000;">(116,373)</div>
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                </tr>
                <tr>
                  <td style="width: 52.45%; vertical-align: bottom;">
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                  <td style="width: 7.65%; vertical-align: middle;">&#160;</td>
                  <td style="width: 19.32%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0);">
                    <div style="text-align: right; color: #000000; font-weight: bold;">246,205</div>
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                  <td style="width: 1.27%; vertical-align: bottom;">&#160;</td>
                  <td style="width: 19.31%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0);">
                    <div style="text-align: right; color: #000000; font-weight: bold;">274,658</div>
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                <tr>
                  <td style="width: 52.45%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                    <div style="color: #000000;">Non-controlling&#160;interests</div>
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                  <td style="width: 7.65%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 19.32%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                    <div style="text-align: right; color: #000000;">57</div>
                  </td>
                  <td style="width: 1.27%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 19.31%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                    <div style="text-align: right; color: #000000;">19</div>
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                </tr>
                <tr>
                  <td style="width: 52.45%; vertical-align: bottom;">
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                  <td style="width: 7.65%; vertical-align: middle;">&#160;</td>
                  <td style="width: 19.32%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
                    <div style="text-align: right; color: #000000; font-weight: bold;">246,262</div>
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                  <td style="width: 1.27%; vertical-align: bottom;">&#160;</td>
                  <td style="width: 19.31%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
                    <div style="text-align: right; color: #000000; font-weight: bold;">274,677</div>
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                <tr>
                  <td style="width: 52.45%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                    <div style="color: #000000; font-weight: bold;">Total&#160;liabilities&#160;and&#160;equity</div>
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                  <td style="width: 7.65%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
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                    <div style="text-align: right; color: #000000; font-weight: bold;">337,299</div>
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                  <td style="width: 1.27%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 19.31%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                    <div style="text-align: right; color: #000000; font-weight: bold;">357,673</div>
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                <tr>
                  <td style="width: 40.34%; vertical-align: bottom;">&#160;</td>
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                    <div style="text-align: right; color: #000000; font-weight: bold;">30,&#160;2022</div>
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                  <td style="width: 2.38%; vertical-align: bottom;">&#160;</td>
                  <td style="width: 12.54%; vertical-align: bottom; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
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                  <td style="width: 2.38%; vertical-align: bottom; border-top: #000000 2px solid;">&#160;</td>
                  <td style="width: 12.54%; vertical-align: bottom; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
                    <div style="text-align: right; color: #000000; font-weight: bold;">September</div>
                    <div style="text-align: right; color: #000000; font-weight: bold;">30,&#160;2022</div>
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                <tr>
                  <td style="width: 40.34%; vertical-align: middle;">&#160;</td>
                  <td style="width: 2.39%; vertical-align: middle;">&#160;</td>
                  <td style="width: 12.54%; vertical-align: middle;">&#160;</td>
                  <td style="width: 2.38%; vertical-align: middle;">&#160;</td>
                  <td style="width: 12.54%; vertical-align: middle;">&#160;</td>
                  <td style="width: 2.38%; vertical-align: middle;">&#160;</td>
                  <td style="width: 12.54%; vertical-align: middle;">&#160;</td>
                  <td style="width: 2.38%; vertical-align: middle;">&#160;</td>
                  <td style="width: 12.54%; vertical-align: middle;">&#160;</td>
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                <tr>
                  <td style="width: 40.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
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                  <td style="width: 2.39%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 12.54%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                    <div style="text-align: right; color: #000000;">47,544</div>
                  </td>
                  <td style="width: 2.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 12.54%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                    <div style="text-align: right; color: #000000;">36,513</div>
                  </td>
                  <td style="width: 2.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 12.54%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                    <div style="text-align: right; color: #000000;">132,078</div>
                  </td>
                  <td style="width: 2.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 12.54%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                    <div style="text-align: right; color: #000000;">105,743</div>
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                </tr>
                <tr>
                  <td style="width: 40.34%; vertical-align: bottom;">
                    <div style="color: #000000;">Services&#160;revenue</div>
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                  <td style="width: 2.39%; vertical-align: bottom;">&#160;</td>
                  <td style="width: 12.54%; vertical-align: bottom;">
                    <div style="text-align: right; color: #000000;">3,084</div>
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                  <td style="width: 12.54%; vertical-align: bottom;">
                    <div style="text-align: right; color: #000000;">2,241</div>
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                  <td style="width: 2.38%; vertical-align: bottom;">&#160;</td>
                  <td style="width: 12.54%; vertical-align: bottom;">
                    <div style="text-align: right; color: #000000;">8,718</div>
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                  <td style="width: 2.38%; vertical-align: bottom;">&#160;</td>
                  <td style="width: 12.54%; vertical-align: bottom;">
                    <div style="text-align: right; color: #000000;">6,392</div>
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                  <td style="width: 40.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
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                    <div style="text-align: right; color: #000000; font-weight: bold;">50,628</div>
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                  <td style="width: 12.54%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                    <div style="text-align: right; color: #000000; font-weight: bold;">38,754</div>
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                  <td style="width: 2.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 12.54%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                    <div style="text-align: right; color: #000000; font-weight: bold;">140,796</div>
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                  <td style="width: 2.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 12.54%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                    <div style="text-align: right; color: #000000; font-weight: bold;">112,135</div>
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                  <td style="width: 40.34%; vertical-align: middle;">&#160;</td>
                  <td style="width: 2.39%; vertical-align: middle;">&#160;</td>
                  <td style="width: 12.54%; vertical-align: middle;">&#160;</td>
                  <td style="width: 2.38%; vertical-align: middle;">&#160;</td>
                  <td style="width: 12.54%; vertical-align: middle;">&#160;</td>
                  <td style="width: 2.38%; vertical-align: middle;">&#160;</td>
                  <td style="width: 12.54%; vertical-align: middle;">&#160;</td>
                  <td style="width: 2.38%; vertical-align: middle;">&#160;</td>
                  <td style="width: 12.54%; vertical-align: middle;">&#160;</td>
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                  <td style="width: 40.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
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                  <td style="width: 2.39%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 12.54%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                    <div style="text-align: right; color: #000000;">(11,395)</div>
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                  <td style="width: 2.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 12.54%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                    <div style="text-align: right; color: #000000;">(9,755)</div>
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                  <td style="width: 2.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 12.54%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                    <div style="text-align: right; color: #000000;">(32,948)</div>
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                  <td style="width: 2.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 12.54%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                    <div style="text-align: right; color: #000000;">(29,917)</div>
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                  <td style="width: 40.34%; vertical-align: bottom;">
                    <div style="color: #000000;">Services&#160;cost</div>
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                  <td style="width: 12.54%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                    <div style="text-align: right; color: #000000;">(3,625)</div>
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                  <td style="width: 2.38%; vertical-align: bottom;">&#160;</td>
                  <td style="width: 12.54%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                    <div style="text-align: right; color: #000000;">(2,872)</div>
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                  <td style="width: 2.38%; vertical-align: bottom;">&#160;</td>
                  <td style="width: 12.54%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                    <div style="text-align: right; color: #000000;">(12,144)</div>
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                  <td style="width: 2.38%; vertical-align: bottom;">&#160;</td>
                  <td style="width: 12.54%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                    <div style="text-align: right; color: #000000;">(8,321)</div>
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                <tr>
                  <td style="width: 40.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
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                  <td style="width: 2.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 12.54%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                    <div style="text-align: right; color: #000000; font-weight: bold;">(12,627)</div>
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                  <td style="width: 2.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 12.54%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
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                  <td style="width: 2.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 12.54%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                    <div style="text-align: right; color: #000000; font-weight: bold;">(38,238)</div>
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                  <td style="width: 2.39%; vertical-align: bottom;">&#160;</td>
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                    <div style="text-align: right; color: #000000; font-weight: bold;">35,608</div>
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                  <td style="width: 2.38%; vertical-align: bottom;">&#160;</td>
                  <td style="width: 12.54%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
                    <div style="text-align: right; color: #000000; font-weight: bold;">26,127</div>
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                  <td style="width: 2.38%; vertical-align: bottom;">&#160;</td>
                  <td style="width: 12.54%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
                    <div style="text-align: right; color: #000000; font-weight: bold;">95,704</div>
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                  <td style="width: 2.38%; vertical-align: bottom;">&#160;</td>
                  <td style="width: 12.54%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
                    <div style="text-align: right; color: #000000; font-weight: bold;">73,897</div>
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                <tr>
                  <td style="width: 40.34%; vertical-align: middle;">&#160;</td>
                  <td style="width: 2.39%; vertical-align: middle;">&#160;</td>
                  <td style="width: 12.54%; vertical-align: middle;">&#160;</td>
                  <td style="width: 2.38%; vertical-align: middle;">&#160;</td>
                  <td style="width: 12.54%; vertical-align: middle;">&#160;</td>
                  <td style="width: 2.38%; vertical-align: middle;">&#160;</td>
                  <td style="width: 12.54%; vertical-align: middle;">&#160;</td>
                  <td style="width: 2.38%; vertical-align: middle;">&#160;</td>
                  <td style="width: 12.54%; vertical-align: middle;">&#160;</td>
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                <tr>
                  <td style="width: 40.34%; vertical-align: bottom;">
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                  <td style="width: 2.39%; vertical-align: bottom;">&#160;</td>
                  <td style="width: 12.54%; vertical-align: bottom;">&#160;</td>
                  <td style="width: 2.38%; vertical-align: bottom;">&#160;</td>
                  <td style="width: 12.54%; vertical-align: bottom;">&#160;</td>
                  <td style="width: 2.38%; vertical-align: bottom;">&#160;</td>
                  <td style="width: 12.54%; vertical-align: bottom;">&#160;</td>
                  <td style="width: 2.38%; vertical-align: bottom;">&#160;</td>
                  <td style="width: 12.54%; vertical-align: bottom;">&#160;</td>
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                <tr>
                  <td style="width: 40.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                    <div style="color: #000000;">General&#160;and&#160;administrative</div>
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                  <td style="width: 2.39%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 12.54%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                    <div style="text-align: right; color: #000000;">(8,374)</div>
                  </td>
                  <td style="width: 2.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 12.54%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                    <div style="text-align: right; color: #000000;">(6,944)</div>
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                  <td style="width: 2.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 12.54%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                    <div style="text-align: right; color: #000000;">(24,541)</div>
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                  <td style="width: 2.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 12.54%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                    <div style="text-align: right; color: #000000;">(21,296)</div>
                  </td>
                </tr>
                <tr>
                  <td style="width: 40.34%; vertical-align: bottom;">
                    <div style="color: #000000;">Sales&#160;and&#160;marketing</div>
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                  <td style="width: 2.39%; vertical-align: bottom;">&#160;</td>
                  <td style="width: 12.54%; vertical-align: bottom;">
                    <div style="text-align: right; color: #000000;">(15,101)</div>
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                  <td style="width: 2.38%; vertical-align: bottom;">&#160;</td>
                  <td style="width: 12.54%; vertical-align: bottom;">
                    <div style="text-align: right; color: #000000;">(16,176)</div>
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                  <td style="width: 2.38%; vertical-align: bottom;">&#160;</td>
                  <td style="width: 12.54%; vertical-align: bottom;">
                    <div style="text-align: right; color: #000000;">(44,332)</div>
                  </td>
                  <td style="width: 2.38%; vertical-align: bottom;">&#160;</td>
                  <td style="width: 12.54%; vertical-align: bottom;">
                    <div style="text-align: right; color: #000000;">(55,394)</div>
                  </td>
                </tr>
                <tr>
                  <td style="width: 40.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                    <div style="color: #000000;">Research&#160;and&#160;development</div>
                  </td>
                  <td style="width: 2.39%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 12.54%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                    <div style="text-align: right; color: #000000;">(15,508)</div>
                  </td>
                  <td style="width: 2.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 12.54%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                    <div style="text-align: right; color: #000000;">(13,812)</div>
                  </td>
                  <td style="width: 2.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 12.54%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                    <div style="text-align: right; color: #000000;">(45,772)</div>
                  </td>
                  <td style="width: 2.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 12.54%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                    <div style="text-align: right; color: #000000;">(43,146)</div>
                  </td>
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                <tr>
                  <td style="width: 40.34%; vertical-align: bottom;">
                    <div style="color: #000000;">Other&#160;losses</div>
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                  <td style="width: 12.54%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                    <div style="text-align: right; color: #000000;">(99)</div>
                  </td>
                  <td style="width: 2.38%; vertical-align: bottom;">&#160;</td>
                  <td style="width: 12.54%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                    <div style="text-align: right; color: #000000;">(489)</div>
                  </td>
                  <td style="width: 2.38%; vertical-align: bottom;">&#160;</td>
                  <td style="width: 12.54%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                    <div style="text-align: right; color: #000000;">(1,364)</div>
                  </td>
                  <td style="width: 2.38%; vertical-align: bottom;">&#160;</td>
                  <td style="width: 12.54%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                    <div style="text-align: right; color: #000000;">(954)</div>
                  </td>
                </tr>
                <tr>
                  <td style="width: 40.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                    <div style="color: #000000; font-weight: bold;">Loss&#160;from&#160;operations</div>
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                  <td style="width: 2.39%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 12.54%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                    <div style="text-align: right; color: #000000; font-weight: bold;">(3,474)</div>
                  </td>
                  <td style="width: 2.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 12.54%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                    <div style="text-align: right; color: #000000; font-weight: bold;">(11,294)</div>
                  </td>
                  <td style="width: 2.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 12.54%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                    <div style="text-align: right; color: #000000; font-weight: bold;">(20,305)</div>
                  </td>
                  <td style="width: 2.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 12.54%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                    <div style="text-align: right; color: #000000; font-weight: bold;">(46,893)</div>
                  </td>
                </tr>
                <tr>
                  <td style="width: 40.34%; vertical-align: bottom;">&#160;</td>
                  <td style="width: 2.39%; vertical-align: bottom;">&#160;</td>
                  <td style="width: 12.54%; vertical-align: bottom;">&#160;</td>
                  <td style="width: 2.38%; vertical-align: bottom;">&#160;</td>
                  <td style="width: 12.54%; vertical-align: bottom;">&#160;</td>
                  <td style="width: 2.38%; vertical-align: bottom;">&#160;</td>
                  <td style="width: 12.54%; vertical-align: bottom;">&#160;</td>
                  <td style="width: 2.38%; vertical-align: bottom;">&#160;</td>
                  <td style="width: 12.54%; vertical-align: bottom;">&#160;</td>
                </tr>
                <tr>
                  <td style="width: 40.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                    <div style="color: #000000;">Financial&#160;income</div>
                  </td>
                  <td style="width: 2.39%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 12.54%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                    <div style="text-align: right; color: #000000;">8,974</div>
                  </td>
                  <td style="width: 2.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 12.54%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                    <div style="text-align: right; color: #000000;">7,137</div>
                  </td>
                  <td style="width: 2.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 12.54%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                    <div style="text-align: right; color: #000000;">25,573</div>
                  </td>
                  <td style="width: 2.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 12.54%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                    <div style="text-align: right; color: #000000;">16,125</div>
                  </td>
                </tr>
                <tr>
                  <td style="width: 40.34%; vertical-align: bottom;">
                    <div style="color: #000000;">Financial&#160;expense</div>
                  </td>
                  <td style="width: 2.39%; vertical-align: bottom;">&#160;</td>
                  <td style="width: 12.54%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                    <div style="text-align: right; color: #000000;">(7,896)</div>
                  </td>
                  <td style="width: 2.38%; vertical-align: bottom;">&#160;</td>
                  <td style="width: 12.54%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                    <div style="text-align: right; color: #000000;">(7,327)</div>
                  </td>
                  <td style="width: 2.38%; vertical-align: bottom;">&#160;</td>
                  <td style="width: 12.54%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                    <div style="text-align: right; color: #000000;">(22,925)</div>
                  </td>
                  <td style="width: 2.38%; vertical-align: bottom;">&#160;</td>
                  <td style="width: 12.54%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                    <div style="text-align: right; color: #000000;">(26,462)</div>
                  </td>
                </tr>
                <tr>
                  <td style="width: 40.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                    <div style="color: #000000; font-weight: bold;">Financial&#160;result,&#160;net</div>
                  </td>
                  <td style="width: 2.39%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 12.54%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                    <div style="text-align: right; color: #000000; font-weight: bold;">1,078</div>
                  </td>
                  <td style="width: 2.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 12.54%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                    <div style="text-align: right; color: #000000; font-weight: bold;">(190)</div>
                  </td>
                  <td style="width: 2.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 12.54%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                    <div style="text-align: right; color: #000000; font-weight: bold;">2,648</div>
                  </td>
                  <td style="width: 2.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 12.54%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                    <div style="text-align: right; color: #000000; font-weight: bold;">(10,337)</div>
                  </td>
                </tr>
                <tr>
                  <td style="width: 40.34%; vertical-align: middle;">&#160;</td>
                  <td style="width: 2.39%; vertical-align: middle;">&#160;</td>
                  <td style="width: 12.54%; vertical-align: middle;">&#160;</td>
                  <td style="width: 2.38%; vertical-align: middle;">&#160;</td>
                  <td style="width: 12.54%; vertical-align: middle;">&#160;</td>
                  <td style="width: 2.38%; vertical-align: middle;">&#160;</td>
                  <td style="width: 12.54%; vertical-align: middle;">&#160;</td>
                  <td style="width: 2.38%; vertical-align: middle;">&#160;</td>
                  <td style="width: 12.54%; vertical-align: middle;">&#160;</td>
                </tr>
                <tr>
                  <td style="width: 40.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                    <div style="color: #000000;">Equity&#160;results</div>
                  </td>
                  <td style="width: 2.39%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 12.54%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                    <div style="text-align: right; color: #000000;">281</div>
                  </td>
                  <td style="width: 2.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
                  <td style="width: 12.54%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                    <div style="text-align: right; color: #000000;">272</div>
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                  <td style="width: 40.34%; vertical-align: middle;">&#160;</td>
                  <td style="width: 2.39%; vertical-align: middle;">&#160;</td>
                  <td style="width: 12.54%; vertical-align: middle;">&#160;</td>
                  <td style="width: 2.38%; vertical-align: middle;">&#160;</td>
                  <td style="width: 12.54%; vertical-align: middle;">&#160;</td>
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                  <td style="width: 12.54%; vertical-align: middle;">&#160;</td>
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                  <td style="width: 2.39%; vertical-align: middle;">&#160;</td>
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                  <td style="width: 2.38%; vertical-align: middle;">&#160;</td>
                  <td style="width: 12.54%; vertical-align: middle;">&#160;</td>
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          <td style="width: 8.33%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
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          <td style="width: 8.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
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          <td style="width: 8.26%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: #000000; font-size: 8pt;">-</div>
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          <td style="width: 8.29%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
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          <td style="width: 8.14%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: #000000; font-size: 8pt;">-</div>
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          <td style="width: 8.28%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
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          <td style="width: 0.76%; vertical-align: bottom;">&#160;</td>
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          <td style="width: 35.01%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
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            <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">-</div>
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            <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">-</div>
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          <td style="width: 8.33%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">(1,693)</div>
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          <td style="width: 8.26%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
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          <td style="width: 8.29%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">(53,788)</div>
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          <td style="width: 0.55%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 8.14%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
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          <td style="width: 8.28%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
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          <td style="width: 0.76%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
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        <tr>
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          <td style="width: 8.29%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
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          <td style="width: 8.34%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td style="width: 0.55%; vertical-align: bottom;">&#160;</td>
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          <td style="width: 0.55%; vertical-align: bottom;">&#160;</td>
          <td style="width: 8.26%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td style="width: 0.55%; vertical-align: bottom;">&#160;</td>
          <td style="width: 8.29%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td style="width: 0.55%; vertical-align: bottom;">&#160;</td>
          <td style="width: 8.14%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td style="width: 0.55%; vertical-align: bottom;">&#160;</td>
          <td style="width: 8.28%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
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            <div style="text-align: right; color: #000000; font-size: 8pt;">-</div>
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          <td style="width: 8.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000; font-size: 8pt;">430</div>
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          <td style="width: 0.55%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 8.33%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000; font-size: 8pt;">-</div>
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          <td style="width: 8.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000; font-size: 8pt;">-</div>
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          <td style="width: 0.55%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 8.29%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000; font-size: 8pt;">430</div>
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          <td style="width: 0.55%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 8.14%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000; font-size: 8pt;">-</div>
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          <td style="width: 0.55%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 8.28%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000; font-size: 8pt;">430</div>
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          <td style="width: 0.76%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
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          <td style="width: 8.29%; vertical-align: bottom;">
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          <td style="width: 8.34%; vertical-align: bottom;">
            <div style="text-align: right; color: #000000; font-size: 8pt;">3</div>
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          <td style="width: 0.55%; vertical-align: bottom;">&#160;</td>
          <td style="width: 8.33%; vertical-align: bottom;">
            <div style="text-align: right; color: #000000; font-size: 8pt;">-</div>
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          <td style="width: 8.26%; vertical-align: bottom;">
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          <td style="width: 8.29%; vertical-align: bottom;">
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          <td style="width: 8.14%; vertical-align: bottom;">
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          <td style="width: 8.28%; vertical-align: bottom;">
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            <div style="text-align: right; color: #000000; font-size: 8pt;">-</div>
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          <td style="width: 8.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
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          <td style="width: 0.55%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
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            <div style="text-align: right; color: #000000; font-size: 8pt;">-</div>
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          <td style="width: 8.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000; font-size: 8pt;">-</div>
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          <td style="width: 0.55%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 8.29%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
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          <td style="width: 0.55%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 8.14%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000; font-size: 8pt;">-</div>
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          <td style="width: 8.28%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
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          <td style="width: 0.76%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
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        <tr>
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          <td style="width: 8.29%; vertical-align: bottom;">
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          <td style="width: 8.34%; vertical-align: bottom;">
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          <td style="width: 8.33%; vertical-align: bottom;">
            <div style="text-align: right; color: #000000; font-size: 8pt;">-</div>
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          <td style="width: 8.26%; vertical-align: bottom;">
            <div style="text-align: right; color: #000000; font-size: 8pt;">-</div>
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          <td style="width: 8.29%; vertical-align: bottom;">
            <div style="text-align: right; color: #000000; font-size: 8pt;">8,947</div>
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          <td style="width: 0.55%; vertical-align: bottom;">&#160;</td>
          <td style="width: 8.14%; vertical-align: bottom;">
            <div style="text-align: right; color: #000000; font-size: 8pt;">-</div>
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          <td style="width: 0.55%; vertical-align: bottom;">&#160;</td>
          <td style="width: 8.28%; vertical-align: bottom;">
            <div style="text-align: right; color: #000000; font-size: 8pt;">8,947</div>
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          <td style="width: 0.76%; vertical-align: bottom;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 35.01%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="color: #000000; font-size: 8pt;">Transactions&#160;with&#160;non-controlling&#160;interests</div>
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          <td style="width: 8.29%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000; font-size: 8pt;">-</div>
          </td>
          <td style="width: 0.55%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 8.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
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          <td style="width: 8.26%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
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          <td style="width: 8.29%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
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          <td style="width: 8.14%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
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          <td style="width: 8.28%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
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            <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">-</div>
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          <td style="width: 35.01%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
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          <td style="width: 8.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
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          <td style="width: 8.33%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
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          <td style="width: 8.26%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
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          <td style="width: 8.29%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
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          <td style="width: 0.55%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 8.14%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
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          <td style="width: 8.28%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">277,602</div>
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          <td style="width: 0.76%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
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        <tr>
          <td style="width: 35.01%; vertical-align: bottom;">&#160;</td>
          <td style="width: 3.02%; vertical-align: bottom;">&#160;</td>
          <td style="width: 8.29%; vertical-align: bottom;">&#160;</td>
          <td style="width: 0.55%; vertical-align: bottom;">&#160;</td>
          <td style="width: 8.34%; vertical-align: bottom;">&#160;</td>
          <td style="width: 0.55%; vertical-align: bottom;">&#160;</td>
          <td style="width: 8.33%; vertical-align: bottom;">&#160;</td>
          <td style="width: 0.55%; vertical-align: bottom;">&#160;</td>
          <td style="width: 8.26%; vertical-align: bottom;">&#160;</td>
          <td style="width: 0.55%; vertical-align: bottom;">&#160;</td>
          <td style="width: 8.29%; vertical-align: bottom;">&#160;</td>
          <td style="width: 0.55%; vertical-align: bottom;">&#160;</td>
          <td style="width: 8.14%; vertical-align: bottom;">&#160;</td>
          <td style="width: 0.55%; vertical-align: bottom;">&#160;</td>
          <td style="width: 8.28%; vertical-align: bottom;">&#160;</td>
          <td style="width: 0.76%; vertical-align: bottom;">&#160;</td>
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          <td style="width: 35.01%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 3.02%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 8.29%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 0.55%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 8.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 0.55%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 8.33%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 0.55%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 8.26%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 0.55%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 8.29%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 0.55%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 8.14%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 0.55%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 8.28%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 0.76%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
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          <td style="width: 35.01%; vertical-align: bottom;">
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          <td style="width: 8.29%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">19</div>
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          <td style="width: 0.55%; vertical-align: bottom;">&#160;</td>
          <td style="width: 8.34%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">390,885</div>
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          <td style="width: 8.33%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">127</div>
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          <td style="width: 8.26%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">(116,373)</div>
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          <td style="width: 0.55%; vertical-align: bottom;">&#160;</td>
          <td style="width: 8.29%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">274,658</div>
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          <td style="width: 0.55%; vertical-align: bottom;">&#160;</td>
          <td style="width: 8.14%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">19</div>
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          <td style="width: 0.55%; vertical-align: bottom;">&#160;</td>
          <td style="width: 8.28%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">274,677</div>
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          <td style="width: 0.76%; vertical-align: bottom;">&#160;</td>
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        <tr>
          <td style="width: 35.01%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
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          <td style="width: 8.29%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000; font-size: 8pt;">-</div>
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          <td style="width: 0.55%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 8.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000; font-size: 8pt;">-</div>
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          <td style="width: 0.55%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 8.33%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000; font-size: 8pt;">-</div>
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          <td style="width: 0.55%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 8.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000; font-size: 8pt;">(16,913)</div>
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          <td style="width: 0.55%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 8.29%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000; font-size: 8pt;">(16,913)</div>
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          <td style="width: 0.55%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 8.14%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
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          <td style="width: 0.55%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 8.28%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000; font-size: 8pt;">(16,917)</div>
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          <td style="width: 0.76%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
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        <tr>
          <td style="width: 35.01%; vertical-align: bottom;">
            <div style="color: #000000; font-size: 8pt;">Other&#160;comprehensive&#160;income&#160;(loss)</div>
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          <td style="width: 3.02%; vertical-align: bottom;">&#160;</td>
          <td style="width: 8.29%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: #000000; font-size: 8pt;">-</div>
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          <td style="width: 0.55%; vertical-align: bottom;">&#160;</td>
          <td style="width: 8.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: #000000; font-size: 8pt;">-</div>
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          <td style="width: 8.33%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: #000000; font-size: 8pt;">2,015</div>
          </td>
          <td style="width: 0.55%; vertical-align: bottom;">&#160;</td>
          <td style="width: 8.26%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: #000000; font-size: 8pt;">-</div>
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          <td style="width: 8.29%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: #000000; font-size: 8pt;">2,015</div>
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          <td style="width: 0.55%; vertical-align: bottom;">&#160;</td>
          <td style="width: 8.14%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: #000000; font-size: 8pt;">-</div>
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          <td style="width: 0.55%; vertical-align: bottom;">&#160;</td>
          <td style="width: 8.28%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: #000000; font-size: 8pt;">2,015</div>
          </td>
          <td style="width: 0.76%; vertical-align: bottom;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 35.01%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
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          <td style="width: 8.29%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">-</div>
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          <td style="width: 0.55%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 8.34%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">-</div>
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          <td style="width: 0.55%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 8.33%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">2,015</div>
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          <td style="width: 0.55%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 8.26%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">(16,913)</div>
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          <td style="width: 0.55%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 8.29%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">(14,898)</div>
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          <td style="width: 0.55%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 8.14%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">(4)</div>
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          <td style="width: 8.28%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
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          <td style="width: 0.76%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
        </tr>
        <tr>
          <td style="width: 35.01%; vertical-align: bottom;">
            <div style="color: #000000; font-size: 8pt; font-weight: bold;">Transactions&#160;with&#160;owners&#160;of&#160;the&#160;Company</div>
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          <td style="width: 3.02%; vertical-align: bottom;">&#160;</td>
          <td style="width: 8.29%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td style="width: 0.55%; vertical-align: bottom;">&#160;</td>
          <td style="width: 8.34%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td style="width: 0.55%; vertical-align: bottom;">&#160;</td>
          <td style="width: 8.33%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td style="width: 0.55%; vertical-align: bottom;">&#160;</td>
          <td style="width: 8.26%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td style="width: 0.55%; vertical-align: bottom;">&#160;</td>
          <td style="width: 8.29%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td style="width: 0.55%; vertical-align: bottom;">&#160;</td>
          <td style="width: 8.14%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td style="width: 0.55%; vertical-align: bottom;">&#160;</td>
          <td style="width: 8.28%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td style="width: 0.76%; vertical-align: bottom;">&#160;</td>
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        <tr>
          <td style="width: 35.01%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="color: #000000; font-size: 8pt;">Exercise&#160;of&#160;stock&#160;options</div>
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          <td style="width: 3.02%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 8.29%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
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          <td style="width: 0.55%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 8.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
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          <td style="width: 0.55%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 8.33%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000; font-size: 8pt;">-</div>
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          <td style="width: 0.55%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 8.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
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          <td style="width: 0.55%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 8.29%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000; font-size: 8pt;">632</div>
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          <td style="width: 0.55%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 8.14%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000; font-size: 8pt;">-</div>
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          <td style="width: 0.55%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 8.28%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000; font-size: 8pt;">632</div>
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          <td style="width: 0.76%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
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        <tr>
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          <td style="width: 8.29%; vertical-align: bottom;">
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          <td style="width: 0.55%; vertical-align: bottom;">&#160;</td>
          <td style="width: 8.33%; vertical-align: bottom;">
            <div style="text-align: right; color: #000000; font-size: 8pt;">-</div>
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          <td style="width: 0.55%; vertical-align: bottom;">&#160;</td>
          <td style="width: 8.26%; vertical-align: bottom;">
            <div style="text-align: right; color: #000000; font-size: 8pt;">-</div>
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          <td style="width: 0.55%; vertical-align: bottom;">&#160;</td>
          <td style="width: 8.29%; vertical-align: bottom;">
            <div style="text-align: right; color: #000000; font-size: 8pt;">(25,053)</div>
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          <td style="width: 0.55%; vertical-align: bottom;">&#160;</td>
          <td style="width: 8.14%; vertical-align: bottom;">
            <div style="text-align: right; color: #000000; font-size: 8pt;">-</div>
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          <td style="width: 0.55%; vertical-align: bottom;">&#160;</td>
          <td style="width: 8.28%; vertical-align: bottom;">
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          <td style="width: 0.76%; vertical-align: bottom;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 35.01%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
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          <td style="width: 3.02%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 8.29%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000; font-size: 8pt;">-</div>
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          <td style="width: 0.55%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 8.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000; font-size: 8pt;">10,866</div>
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          <td style="width: 0.55%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 8.33%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000; font-size: 8pt;">-</div>
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          <td style="width: 0.55%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 8.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000; font-size: 8pt;">-</div>
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          <td style="width: 0.55%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 8.29%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000; font-size: 8pt;">10,866</div>
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          <td style="width: 0.55%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 8.14%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000; font-size: 8pt;">-</div>
          </td>
          <td style="width: 0.55%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 8.28%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000; font-size: 8pt;">10,866</div>
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          <td style="width: 0.76%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
        </tr>
        <tr>
          <td style="width: 35.01%; vertical-align: bottom;">
            <div style="color: #000000; font-size: 8pt;">Transactions&#160;with&#160;non-controlling&#160;interests</div>
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          <td style="width: 3.02%; vertical-align: bottom;">&#160;</td>
          <td style="width: 8.29%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: #000000; font-size: 8pt;">-</div>
          </td>
          <td style="width: 0.55%; vertical-align: bottom;">&#160;</td>
          <td style="width: 8.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: #000000; font-size: 8pt;">-</div>
          </td>
          <td style="width: 0.55%; vertical-align: bottom;">&#160;</td>
          <td style="width: 8.33%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: #000000; font-size: 8pt;">-</div>
          </td>
          <td style="width: 0.55%; vertical-align: bottom;">&#160;</td>
          <td style="width: 8.26%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: #000000; font-size: 8pt;">-</div>
          </td>
          <td style="width: 0.55%; vertical-align: bottom;">&#160;</td>
          <td style="width: 8.29%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: #000000; font-size: 8pt;">-</div>
          </td>
          <td style="width: 0.55%; vertical-align: bottom;">&#160;</td>
          <td style="width: 8.14%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: #000000; font-size: 8pt;">42</div>
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          <td style="width: 0.55%; vertical-align: bottom;">&#160;</td>
          <td style="width: 8.28%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: #000000; font-size: 8pt;">42</div>
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          <td style="width: 0.76%; vertical-align: bottom;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 35.01%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="color: #000000; font-size: 8pt; font-weight: bold;">Total&#160;transactions&#160;with&#160;owners&#160;of&#160;the&#160;Company</div>
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          <td style="width: 3.02%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 8.29%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">-</div>
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          <td style="width: 0.55%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 8.34%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">(13,555)</div>
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          <td style="width: 0.55%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 8.33%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">-</div>
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          <td style="width: 0.55%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 8.26%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">-</div>
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          <td style="width: 0.55%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 8.29%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">(13,555)</div>
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          <td style="width: 0.55%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 8.14%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">42</div>
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          <td style="width: 0.55%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 8.28%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">(13,513)</div>
          </td>
          <td style="width: 0.76%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
        </tr>
        <tr>
          <td style="width: 35.01%; vertical-align: bottom;">
            <div style="color: #000000; font-size: 8pt; font-weight: bold;">At&#160;&#160;September&#160;30,&#160;2023&#160;</div>
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          <td style="width: 3.02%; vertical-align: bottom;">&#160;</td>
          <td style="width: 8.29%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">19</div>
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          <td style="width: 0.55%; vertical-align: bottom;">&#160;</td>
          <td style="width: 8.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">377,330</div>
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          <td style="width: 0.55%; vertical-align: bottom;">&#160;</td>
          <td style="width: 8.33%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">2,142</div>
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          <td style="width: 0.55%; vertical-align: bottom;">&#160;</td>
          <td style="width: 8.26%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">(133,286)</div>
          </td>
          <td style="width: 0.55%; vertical-align: bottom;">&#160;</td>
          <td style="width: 8.29%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">246,205</div>
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          <td style="width: 0.55%; vertical-align: bottom;">&#160;</td>
          <td style="width: 8.14%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">57</div>
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          <td style="width: 0.55%; vertical-align: bottom;">&#160;</td>
          <td style="width: 8.28%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">246,262</div>
          </td>
          <td style="width: 0.76%; vertical-align: bottom;">&#160;</td>
        </tr>

    </table>
    <div><br>
    </div>
    <div>
      <div style="color: #000000;">The above condensed consolidated interim statements of changes in shareholders&#8217; equity should be read in conjunction with the accompanying
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    <div> <br>
    </div>
    <div> <br>
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    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-weight: normal; font-style: normal;">7</font></div>
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          <td style="width: 14.72%; vertical-align: bottom; border-bottom: #000000 2px solid;">
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          <td style="width: 1.9%; vertical-align: bottom;">&#160;</td>
          <td style="width: 14.42%; vertical-align: bottom; border-bottom: #000000 2px solid;">
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        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 68.97%; vertical-align: bottom;">&#160;</td>
          <td nowrap="nowrap" style="width: 14.72%; vertical-align: bottom;">&#160;</td>
          <td nowrap="nowrap" style="width: 1.9%; vertical-align: bottom;">&#160;</td>
          <td nowrap="nowrap" style="width: 14.42%; vertical-align: bottom;">&#160;</td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 68.97%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
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            <div style="text-align: right; color: #000000; font-weight: bold;">(16,917)</div>
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          <td nowrap="nowrap" style="width: 1.9%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td nowrap="nowrap" style="width: 14.42%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
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        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 68.97%; vertical-align: bottom;">
            <div style="color: #000000; font-weight: bold;">Adjustments for:</div>
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          <td nowrap="nowrap" style="width: 14.72%; vertical-align: bottom;">&#160;</td>
          <td nowrap="nowrap" style="width: 1.9%; vertical-align: bottom;">&#160;</td>
          <td nowrap="nowrap" style="width: 14.42%; vertical-align: bottom;">&#160;</td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 68.97%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="color: #000000;">Depreciation and amortization</div>
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          <td nowrap="nowrap" style="width: 14.72%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">3,799&#160;</div>
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          <td nowrap="nowrap" style="width: 1.9%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td nowrap="nowrap" style="width: 14.42%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">3,378&#160;</div>
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        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 68.97%; vertical-align: bottom;">
            <div style="color: #000000;">Deferred income tax</div>
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          <td nowrap="nowrap" style="width: 14.72%; vertical-align: bottom;">
            <div style="text-align: right; color: #000000;">(2,068)</div>
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          <td nowrap="nowrap" style="width: 1.9%; vertical-align: bottom;">&#160;</td>
          <td nowrap="nowrap" style="width: 14.42%; vertical-align: bottom;">
            <div style="text-align: right; color: #000000;">(5,115)</div>
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        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 68.97%; vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="color: #000000;">Loss on disposal of rights of use, property, equipment, and intangible assets</div>
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          <td nowrap="nowrap" style="width: 14.72%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">614&#160;</div>
          </td>
          <td nowrap="nowrap" style="width: 1.9%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td nowrap="nowrap" style="width: 14.42%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">(9)</div>
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        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 68.97%; vertical-align: bottom;">
            <div style="color: #000000;">Expected credit losses from trade receivables</div>
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          <td nowrap="nowrap" style="width: 14.72%; vertical-align: bottom;">
            <div style="text-align: right; color: #000000;">1,093&#160;</div>
          </td>
          <td nowrap="nowrap" style="width: 1.9%; vertical-align: bottom;">&#160;</td>
          <td nowrap="nowrap" style="width: 14.42%; vertical-align: bottom;">
            <div style="text-align: right; color: #000000;">640&#160;</div>
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        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 68.97%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="color: #000000;">Share-based compensation</div>
          </td>
          <td nowrap="nowrap" style="width: 14.72%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">12,280&#160;</div>
          </td>
          <td nowrap="nowrap" style="width: 1.9%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td nowrap="nowrap" style="width: 14.42%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">8,501&#160;</div>
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        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 68.97%; vertical-align: bottom;">
            <div style="color: #000000;">Provision for payroll taxes (share-based compensation)</div>
          </td>
          <td nowrap="nowrap" style="width: 14.72%; vertical-align: bottom;">
            <div style="text-align: right; color: #000000;">2,117&#160;</div>
          </td>
          <td nowrap="nowrap" style="width: 1.9%; vertical-align: bottom;">&#160;</td>
          <td nowrap="nowrap" style="width: 14.42%; vertical-align: bottom;">
            <div style="text-align: right; color: #000000;">(1,578)</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 68.97%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="color: #000000;">Adjustment of hyperinflation</div>
          </td>
          <td nowrap="nowrap" style="width: 14.72%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">10,221&#160;</div>
          </td>
          <td nowrap="nowrap" style="width: 1.9%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td nowrap="nowrap" style="width: 14.42%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">3,786&#160;</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 68.97%; vertical-align: bottom;">
            <div style="color: #000000;">Equity results</div>
          </td>
          <td nowrap="nowrap" style="width: 14.72%; vertical-align: bottom;">
            <div style="text-align: right; color: #000000;">(989)</div>
          </td>
          <td nowrap="nowrap" style="width: 1.9%; vertical-align: bottom;">&#160;</td>
          <td nowrap="nowrap" style="width: 14.42%; vertical-align: bottom;">
            <div style="text-align: right; color: #000000;">(759)</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 68.97%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="color: #000000;">Accrued interest</div>
          </td>
          <td nowrap="nowrap" style="width: 14.72%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">(9,875)</div>
          </td>
          <td nowrap="nowrap" style="width: 1.9%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td nowrap="nowrap" style="width: 14.42%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">(597)</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 68.97%; vertical-align: bottom;">
            <div style="color: #000000;">Fair value (gains) losses</div>
          </td>
          <td nowrap="nowrap" style="width: 14.72%; vertical-align: bottom;">
            <div style="text-align: right; color: #000000;">(7,863)</div>
          </td>
          <td nowrap="nowrap" style="width: 1.9%; vertical-align: bottom;">&#160;</td>
          <td nowrap="nowrap" style="width: 14.42%; vertical-align: bottom;">
            <div style="text-align: right; color: #000000;">6,610&#160;</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 68.97%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="color: #000000;">Others and foreign exchange, net</div>
          </td>
          <td nowrap="nowrap" style="width: 14.72%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">2,559&#160;</div>
          </td>
          <td nowrap="nowrap" style="width: 1.9%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td nowrap="nowrap" style="width: 14.42%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">464&#160;</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 68.97%; vertical-align: bottom;">
            <div style="color: #000000; font-weight: bold;">Change in operating assets and liabilities</div>
          </td>
          <td nowrap="nowrap" style="width: 14.72%; vertical-align: bottom;">&#160;</td>
          <td nowrap="nowrap" style="width: 1.9%; vertical-align: bottom;">&#160;</td>
          <td nowrap="nowrap" style="width: 14.42%; vertical-align: bottom;">&#160;</td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 68.97%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="color: #000000;">Trade receivables</div>
          </td>
          <td nowrap="nowrap" style="width: 14.72%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">(6,781)</div>
          </td>
          <td nowrap="nowrap" style="width: 1.9%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td nowrap="nowrap" style="width: 14.42%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">(604)</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 68.97%; vertical-align: bottom;">
            <div style="color: #000000;">Recoverable taxes</div>
          </td>
          <td nowrap="nowrap" style="width: 14.72%; vertical-align: bottom;">
            <div style="text-align: right; color: #000000;">(108)</div>
          </td>
          <td nowrap="nowrap" style="width: 1.9%; vertical-align: bottom;">&#160;</td>
          <td nowrap="nowrap" style="width: 14.42%; vertical-align: bottom;">
            <div style="text-align: right; color: #000000;">927&#160;</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 68.97%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="color: #000000;">Prepaid expenses</div>
          </td>
          <td nowrap="nowrap" style="width: 14.72%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">206&#160;</div>
          </td>
          <td nowrap="nowrap" style="width: 1.9%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td nowrap="nowrap" style="width: 14.42%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">3,919&#160;</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 68.97%; vertical-align: bottom;">
            <div style="color: #000000;">Other assets</div>
          </td>
          <td nowrap="nowrap" style="width: 14.72%; vertical-align: bottom;">
            <div style="text-align: right; color: #000000;">(25)</div>
          </td>
          <td nowrap="nowrap" style="width: 1.9%; vertical-align: bottom;">&#160;</td>
          <td nowrap="nowrap" style="width: 14.42%; vertical-align: bottom;">
            <div style="text-align: right; color: #000000;">(581)</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 68.97%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="color: #000000;">Accounts payable and accrued expenses</div>
          </td>
          <td nowrap="nowrap" style="width: 14.72%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">(958)</div>
          </td>
          <td nowrap="nowrap" style="width: 1.9%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td nowrap="nowrap" style="width: 14.42%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">3,184&#160;</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 68.97%; vertical-align: bottom;">
            <div style="color: #000000;">Taxes payable</div>
          </td>
          <td nowrap="nowrap" style="width: 14.72%; vertical-align: bottom;">
            <div style="text-align: right; color: #000000;">415&#160;</div>
          </td>
          <td nowrap="nowrap" style="width: 1.9%; vertical-align: bottom;">&#160;</td>
          <td nowrap="nowrap" style="width: 14.42%; vertical-align: bottom;">
            <div style="text-align: right; color: #000000;">(2,523)</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 68.97%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="color: #000000;">Deferred revenue</div>
          </td>
          <td nowrap="nowrap" style="width: 14.72%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">5,450&#160;</div>
          </td>
          <td nowrap="nowrap" style="width: 1.9%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td nowrap="nowrap" style="width: 14.42%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">48&#160;</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 68.97%; vertical-align: bottom;">
            <div style="color: #000000;">Other liabilities</div>
          </td>
          <td nowrap="nowrap" style="width: 14.72%; vertical-align: bottom;">
            <div style="text-align: right; color: #000000;">1,175&#160;</div>
          </td>
          <td nowrap="nowrap" style="width: 1.9%; vertical-align: bottom;">&#160;</td>
          <td nowrap="nowrap" style="width: 14.42%; vertical-align: bottom;">
            <div style="text-align: right; color: #000000;">791&#160;</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 68.97%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="color: #000000; font-weight: bold;">Cash used in operating activities</div>
          </td>
          <td nowrap="nowrap" style="width: 14.72%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000; font-weight: bold;">(5,655)</div>
          </td>
          <td nowrap="nowrap" style="width: 1.9%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td nowrap="nowrap" style="width: 14.42%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000; font-weight: bold;">(31,615)</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 68.97%; vertical-align: bottom;">
            <div style="color: #000000;">Income tax&#160;&#160;refund (paid)</div>
          </td>
          <td nowrap="nowrap" style="width: 14.72%; vertical-align: bottom;">
            <div style="text-align: right; color: #000000;">233&#160;</div>
          </td>
          <td nowrap="nowrap" style="width: 1.9%; vertical-align: bottom;">&#160;</td>
          <td nowrap="nowrap" style="width: 14.42%; vertical-align: bottom;">
            <div style="text-align: right; color: #000000;">(193)</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 68.97%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="color: #000000; font-weight: bold;">Net cash used in operating activities</div>
          </td>
          <td nowrap="nowrap" style="width: 14.72%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000; font-weight: bold;">(5,422)</div>
          </td>
          <td nowrap="nowrap" style="width: 1.9%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td nowrap="nowrap" style="width: 14.42%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000; font-weight: bold;">(31,808)</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 68.97%; vertical-align: bottom;">
            <div style="color: #000000; font-weight: bold;">Cash flows from investing activities</div>
          </td>
          <td nowrap="nowrap" style="width: 14.72%; vertical-align: bottom;">&#160;</td>
          <td nowrap="nowrap" style="width: 1.9%; vertical-align: bottom;">&#160;</td>
          <td nowrap="nowrap" style="width: 14.42%; vertical-align: bottom;">&#160;</td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 68.97%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="color: #000000;">Dividends received from joint venture</div>
          </td>
          <td nowrap="nowrap" style="width: 14.72%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">1,138&#160;</div>
          </td>
          <td nowrap="nowrap" style="width: 1.9%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td nowrap="nowrap" style="width: 14.42%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">147&#160;</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 68.97%; vertical-align: bottom;">
            <div style="color: #000000;">Purchase of short-term investment</div>
          </td>
          <td nowrap="nowrap" style="width: 14.72%; vertical-align: bottom;">
            <div style="text-align: right; color: #000000;">(112,350)</div>
          </td>
          <td nowrap="nowrap" style="width: 1.9%; vertical-align: bottom;">&#160;</td>
          <td nowrap="nowrap" style="width: 14.42%; vertical-align: bottom;">
            <div style="text-align: right; color: #000000;">(111,040)</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 68.97%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="color: #000000;">Redemption of short-term investment</div>
          </td>
          <td nowrap="nowrap" style="width: 14.72%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">139,458&#160;</div>
          </td>
          <td nowrap="nowrap" style="width: 1.9%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td nowrap="nowrap" style="width: 14.42%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">66,152&#160;</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 68.97%; vertical-align: middle;">
            <div style="color: #000000;">Interest and dividend received from short-term investments</div>
          </td>
          <td nowrap="nowrap" style="width: 14.72%; vertical-align: bottom;">
            <div style="text-align: right; color: #000000;">1,941&#160;</div>
          </td>
          <td nowrap="nowrap" style="width: 1.9%; vertical-align: bottom;">&#160;</td>
          <td nowrap="nowrap" style="width: 14.42%; vertical-align: bottom;">
            <div style="text-align: right; color: #000000;">597&#160;</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 68.97%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="color: #000000;">Payment of business acquired</div>
          </td>
          <td nowrap="nowrap" style="width: 14.72%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">-&#160;&#160;&#160;</div>
          </td>
          <td nowrap="nowrap" style="width: 1.9%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td nowrap="nowrap" style="width: 14.42%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">(1,692)</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 68.97%; vertical-align: bottom;">
            <div style="color: #000000;">Acquisitions of property and equipment</div>
          </td>
          <td nowrap="nowrap" style="width: 14.72%; vertical-align: bottom;">
            <div style="text-align: right; color: #000000;">(252)</div>
          </td>
          <td nowrap="nowrap" style="width: 1.9%; vertical-align: bottom;">&#160;</td>
          <td nowrap="nowrap" style="width: 14.42%; vertical-align: bottom;">
            <div style="text-align: right; color: #000000;">(266)</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 68.97%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="color: #000000;">Derivative financial instruments</div>
          </td>
          <td nowrap="nowrap" style="width: 14.72%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">359&#160;</div>
          </td>
          <td nowrap="nowrap" style="width: 1.9%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td nowrap="nowrap" style="width: 14.42%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">-&#160;&#160;&#160;</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 68.97%; vertical-align: bottom;">
            <div style="color: #000000; font-weight: bold;">Net cash provided by (used in) investing activities</div>
          </td>
          <td nowrap="nowrap" style="width: 14.72%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: #000000; font-weight: bold;">30,294&#160;</div>
          </td>
          <td nowrap="nowrap" style="width: 1.9%; vertical-align: bottom;">&#160;</td>
          <td nowrap="nowrap" style="width: 14.42%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: #000000; font-weight: bold;">(46,102)</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 68.97%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="color: #000000; font-weight: bold;">Cash flows from financing activities</div>
          </td>
          <td nowrap="nowrap" style="width: 14.72%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td nowrap="nowrap" style="width: 1.9%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td nowrap="nowrap" style="width: 14.42%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 68.97%; vertical-align: bottom;">
            <div style="color: #000000;">Derivative financial instruments</div>
          </td>
          <td nowrap="nowrap" style="width: 14.72%; vertical-align: bottom;">
            <div style="text-align: right; color: #000000;">-&#160;&#160;&#160;</div>
          </td>
          <td nowrap="nowrap" style="width: 1.9%; vertical-align: bottom;">&#160;</td>
          <td nowrap="nowrap" style="width: 14.42%; vertical-align: bottom;">
            <div style="text-align: right; color: #000000;">(718)</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 68.97%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="color: #000000;">Changes in restricted cash</div>
          </td>
          <td nowrap="nowrap" style="width: 14.72%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">1,660&#160;</div>
          </td>
          <td nowrap="nowrap" style="width: 1.9%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td nowrap="nowrap" style="width: 14.42%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">(403)</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 68.97%; vertical-align: bottom;">
            <div style="color: #000000;">Proceeds from the exercise of stock options</div>
          </td>
          <td nowrap="nowrap" style="width: 14.72%; vertical-align: bottom;">
            <div style="text-align: right; color: #000000;">632&#160;</div>
          </td>
          <td nowrap="nowrap" style="width: 1.9%; vertical-align: bottom;">&#160;</td>
          <td nowrap="nowrap" style="width: 14.42%; vertical-align: bottom;">
            <div style="text-align: right; color: #000000;">430&#160;</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 68.97%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="color: #000000;">Net-settlement of share-based payment</div>
          </td>
          <td nowrap="nowrap" style="width: 14.72%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">(1,618)</div>
          </td>
          <td nowrap="nowrap" style="width: 1.9%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td nowrap="nowrap" style="width: 14.42%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">(1,138)</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 68.97%; vertical-align: bottom;">
            <div style="color: #000000;">Buyback of shares</div>
          </td>
          <td nowrap="nowrap" style="width: 14.72%; vertical-align: bottom;">
            <div style="text-align: right; color: #000000;">(25,053)</div>
          </td>
          <td nowrap="nowrap" style="width: 1.9%; vertical-align: bottom;">&#160;</td>
          <td nowrap="nowrap" style="width: 14.42%; vertical-align: bottom;">
            <div style="text-align: right; color: #000000;">(5,184)</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 68.97%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="color: #000000;">Payment of loans and financing</div>
          </td>
          <td nowrap="nowrap" style="width: 14.72%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">(1,238)</div>
          </td>
          <td nowrap="nowrap" style="width: 1.9%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td nowrap="nowrap" style="width: 14.42%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">(1,982)</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 68.97%; vertical-align: bottom;">
            <div style="color: #000000;">Interest paid</div>
          </td>
          <td nowrap="nowrap" style="width: 14.72%; vertical-align: bottom;">
            <div style="text-align: right; color: #000000;">(5)</div>
          </td>
          <td nowrap="nowrap" style="width: 1.9%; vertical-align: bottom;">&#160;</td>
          <td nowrap="nowrap" style="width: 14.42%; vertical-align: bottom;">
            <div style="text-align: right; color: #000000;">(48)</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 68.97%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="color: #000000;">Principal elements of lease payments</div>
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          <td nowrap="nowrap" style="width: 14.72%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">(1,152)</div>
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          <td nowrap="nowrap" style="width: 1.9%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td nowrap="nowrap" style="width: 14.42%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">(898)</div>
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        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 68.97%; vertical-align: bottom;">
            <div style="color: #000000;">Lease interest paid</div>
          </td>
          <td nowrap="nowrap" style="width: 14.72%; vertical-align: bottom;">
            <div style="text-align: right; color: #000000;">(440)</div>
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          <td nowrap="nowrap" style="width: 1.9%; vertical-align: bottom;">&#160;</td>
          <td nowrap="nowrap" style="width: 14.42%; vertical-align: bottom;">
            <div style="text-align: right; color: #000000;">(515)</div>
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        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 68.97%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="color: #000000; font-weight: bold;">Net cash used in financing activities</div>
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          <td nowrap="nowrap" style="width: 14.72%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000; font-weight: bold;">(27,214)</div>
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          <td nowrap="nowrap" style="width: 1.9%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td nowrap="nowrap" style="width: 14.42%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000; font-weight: bold;">(10,456)</div>
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        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 68.97%; vertical-align: bottom;">
            <div style="color: #000000; font-weight: bold;">Net decrease in cash and cash equivalents</div>
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          <td nowrap="nowrap" style="width: 14.72%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: #000000; font-weight: bold;">(2,342)</div>
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          <td nowrap="nowrap" style="width: 1.9%; vertical-align: bottom;">&#160;</td>
          <td nowrap="nowrap" style="width: 14.42%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: #000000; font-weight: bold;">(88,366)</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 68.97%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="color: #000000; font-weight: bold;">Cash and cash equivalents, beginning of the period</div>
          </td>
          <td nowrap="nowrap" style="width: 14.72%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000; font-weight: bold;">24,394&#160;</div>
          </td>
          <td nowrap="nowrap" style="width: 1.9%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td nowrap="nowrap" style="width: 14.42%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000; font-weight: bold;">121,006&#160;</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 68.97%; vertical-align: bottom;">
            <div style="color: #000000;">Effect of exchange rate changes</div>
          </td>
          <td nowrap="nowrap" style="width: 14.72%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: #000000;">(751)</div>
          </td>
          <td nowrap="nowrap" style="width: 1.9%; vertical-align: bottom;">&#160;</td>
          <td nowrap="nowrap" style="width: 14.42%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: #000000;">(2,783)</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 68.97%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="color: #000000; font-weight: bold;">Cash and cash equivalents, end of the period</div>
          </td>
          <td nowrap="nowrap" style="width: 14.72%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000; font-weight: bold;">21,301&#160;</div>
          </td>
          <td nowrap="nowrap" style="width: 1.9%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td nowrap="nowrap" style="width: 14.42%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000; font-weight: bold;">29,857&#160;</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 68.97%; vertical-align: bottom;">&#160;</td>
          <td nowrap="nowrap" style="width: 14.72%; vertical-align: bottom;">&#160;</td>
          <td nowrap="nowrap" style="width: 1.9%; vertical-align: bottom;">&#160;</td>
          <td nowrap="nowrap" style="width: 14.42%; vertical-align: bottom;">&#160;</td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 68.97%; vertical-align: bottom;">
            <div style="color: #000000; font-weight: bold;">Non-cash transactions:</div>
          </td>
          <td nowrap="nowrap" style="width: 14.72%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td nowrap="nowrap" style="width: 1.9%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td nowrap="nowrap" style="width: 14.42%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 68.97%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="color: #000000;">Lease liabilities arising from obtaining right-of-use assets</div>
          </td>
          <td nowrap="nowrap" style="width: 14.72%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">85&#160;</div>
          </td>
          <td nowrap="nowrap" style="width: 1.9%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td nowrap="nowrap" style="width: 14.42%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">985&#160;</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 68.97%; vertical-align: bottom;">
            <div style="color: #000000;">Issue of ordinary shares as consideration for a business combination</div>
          </td>
          <td nowrap="nowrap" style="width: 14.72%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: #000000;">-&#160;&#160;&#160;</div>
          </td>
          <td nowrap="nowrap" style="width: 1.9%; vertical-align: bottom;">&#160;</td>
          <td nowrap="nowrap" style="width: 14.42%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: #000000;">3&#160;</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 68.97%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="color: #000000;">Dividends from joint venture used to pay accounts from acquisition of subsidiaries</div>
          </td>
          <td nowrap="nowrap" style="width: 14.72%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">-&#160;&#160;&#160;</div>
          </td>
          <td nowrap="nowrap" style="width: 1.9%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td nowrap="nowrap" style="width: 14.42%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">448&#160;</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 68.97%; vertical-align: bottom;">
            <div style="color: #000000;">Transactions with non-controlling interests</div>
          </td>
          <td nowrap="nowrap" style="width: 14.72%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: #000000;">42&#160;</div>
          </td>
          <td nowrap="nowrap" style="width: 1.9%; vertical-align: bottom;">&#160;</td>
          <td nowrap="nowrap" style="width: 14.42%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: #000000;">7&#160;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="text-align: justify; color: #000000;">The above condensed consolidated interim statements of cash flows should be read in conjunction with the accompanying notes.</div>
    <div> <br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-weight: normal; font-style: normal;">8</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      <div style="width: 100%;" class="BRPFPageHeader"></div>
    </div>
    <div>
      <div>
        <div>
          <div style="color: rgb(0, 0, 0); font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">VTEX <br>
          </div>
          <div style="color: #000000; font-weight: bold;">Notes to the condensed consolidated interim financial statements</div>
          <div style="color: rgb(0, 0, 0); font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">(Unaudited)</div>
          <div style="color: rgb(0, 0, 0); font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">In thousands of U.S. dollars, unless otherwise indicated</div>
          <div style="color: rgb(0, 0, 0); font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">
            <hr noshade="noshade" align="left" style="height: 1pt; width: 100%; color: #000000; background-color: #000000; margin-left: 0px; margin-right: auto; border: none;"> </div>
        </div>
        <div> <br>
        </div>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;" id="z749e312d7dae403681083d34dc60076a">

            <tr>
              <td style="width: 2%; text-align: left; vertical-align: top;"><font style="font-size: 12pt; font-weight: bold;">1</font><br>
              </td>
              <td style="width: 98%; font-weight: bold; font-size: 12pt;">
                <div>General information</div>
                <div> <br>
                </div>
                <div>
                  <div style="text-align: justify; font-size: 10pt; font-weight: normal;">VTEX (&#8220;VTEX&#8221; or the &#8220;Company&#8221;) and its subsidiaries, or collectively referred to as the &#8220;Group&#8221;, provide a software-as-a-service digital commerce platform for
                    enterprise brands and retailers. VTEX&#8217;s services enable its customers to execute their commerce strategy, including building online stores, integrating and managing orders across channels, and creating marketplaces to sell products from
                    third-party vendors. The platform is also designed to be the operating system for the commerce ecosystem, enabling enterprise brands and retailers to orchestrate their network of consumers, business partners, suppliers, and fulfillment
                    providers in one place with a complete Commerce, Marketplace, and OMS solution. VTEX assists global companies build, manage, and deliver native and advanced business-to-business (B2B), business-to-consumer (B2C), and Marketplace
                    commerce experiences with competitive time-to-market. The Company's shares, under the symbol &#8220;VTEX&#8221;, are listed on the New York Stock Exchange (&#8220;NYSE&#8221;).</div>
                  <font style="font-size: 10pt; font-weight: normal;"> </font>
                  <div><font style="font-size: 10pt; font-weight: normal;"><br>
                    </font> </div>
                  <font style="font-size: 10pt; font-weight: normal;"> </font>
                  <div style="text-align: justify; font-size: 10pt; font-weight: normal;">The following entities are part of the Group and are being consolidated in these unaudited condensed interim financial statements:</div>
                </div>
              </td>
            </tr>

        </table>
      </div>
      <div style="text-align: justify;"> <br>
      </div>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" border="0" id="zb92786537c084adeba96cefaa9d4bf45" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

          <tr>
            <td style="width: 2%; vertical-align: middle;" colspan="1">&#160;</td>
            <td style="width: 25%; vertical-align: middle;">&#160;</td>
            <td colspan="1" style="width: 2%; vertical-align: middle;">&#160;</td>
            <td style="width: 14%; vertical-align: middle;">&#160;</td>
            <td style="width: 13%; vertical-align: middle;">&#160;</td>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td style="vertical-align: top;" colspan="3">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-weight: bold;">Interest held by the Group (%)</div>
            </td>
          </tr>
          <tr>
            <td style="width: 2%; vertical-align: middle;" colspan="1">&#160;</td>
            <td style="width: 25%; vertical-align: middle;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-weight: bold;">Company</div>
            </td>
            <td colspan="1" style="width: 2%; vertical-align: middle;">&#160;</td>
            <td style="width: 14%; vertical-align: middle;">
              <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-weight: bold;">Place of business/ country of incorporation</div>
            </td>
            <td style="width: 13%; vertical-align: middle;">
              <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-weight: bold;">Relationship</div>
            </td>
            <td style="width: 11%; vertical-align: middle;">
              <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-weight: bold;">Principal business activity</div>
            </td>
            <td style="width: 11%; vertical-align: middle;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-weight: bold;">September 30, </div>
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-weight: bold;">2023</div>
            </td>
            <td style="width: 11%; vertical-align: middle;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-weight: bold;">December 31, </div>
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-weight: bold;">2022</div>
            </td>
            <td style="width: 11%; vertical-align: middle;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-weight: bold;">September 30, </div>
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-weight: bold;">2022</div>
            </td>
          </tr>
          <tr>
            <td style="width: 2%; vertical-align: middle;" colspan="1">&#160;</td>
            <td style="width: 25%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">VTEX (&#8220;VTEX&#8221;)</div>
            </td>
            <td colspan="1" style="width: 2%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 14%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">Cayman</div>
            </td>
            <td style="width: 13%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">Holding</div>
            </td>
            <td style="width: 11%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">Technology Services</div>
            </td>
            <td style="width: 11%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 11%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 11%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 2%; vertical-align: top;" colspan="1">&#160;</td>
            <td style="width: 25%; vertical-align: top;">
              <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">VTEX Argentina S.A. (&#8220;VTEX ARG&#8221;)</div>
            </td>
            <td colspan="1" style="width: 2%; vertical-align: top;">&#160;</td>
            <td style="width: 14%; vertical-align: middle;">
              <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">Argentina</div>
            </td>
            <td style="width: 13%; vertical-align: middle;">
              <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">Subsidiary</div>
            </td>
            <td style="width: 11%; vertical-align: middle;">
              <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">Technology Services</div>
            </td>
            <td style="width: 11%; vertical-align: middle;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">100</div>
            </td>
            <td style="width: 11%; vertical-align: middle;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">100</div>
            </td>
            <td style="width: 11%; vertical-align: middle;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">100</div>
            </td>
          </tr>
          <tr>
            <td style="width: 2%; vertical-align: top;" colspan="1">&#160;</td>
            <td style="width: 25%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">VTEX Brasil Tecnologia para E-commerce LTDA. (&#8220;VTEX Brazil&#8221;)</div>
            </td>
            <td colspan="1" style="width: 2%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 14%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">Brazil</div>
            </td>
            <td style="width: 13%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">Subsidiary</div>
            </td>
            <td style="width: 11%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">Technology Services</div>
            </td>
            <td style="width: 11%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">100</div>
            </td>
            <td style="width: 11%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">100</div>
            </td>
            <td style="width: 11%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">100</div>
            </td>
          </tr>
          <tr>
            <td style="width: 2%; vertical-align: top;" colspan="1">&#160;</td>
            <td style="width: 25%; vertical-align: top;">
              <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">VTEX Day Eventos LTDA (&#8220;VTEX DAY&#8221;)</div>
            </td>
            <td colspan="1" style="width: 2%; vertical-align: top;">&#160;</td>
            <td style="width: 14%; vertical-align: middle;">
              <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">Brazil</div>
            </td>
            <td style="width: 13%; vertical-align: middle;">
              <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">Subsidiary</div>
            </td>
            <td style="width: 11%; vertical-align: middle;">
              <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">Production of events</div>
            </td>
            <td style="width: 11%; vertical-align: middle;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">100</div>
            </td>
            <td style="width: 11%; vertical-align: middle;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">100</div>
            </td>
            <td style="width: 11%; vertical-align: middle;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">100</div>
            </td>
          </tr>
          <tr>
            <td style="width: 2%; vertical-align: top;" colspan="1">&#160;</td>
            <td style="width: 25%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">Loja Integrada Tecnologia Para Softwares S.A. (&#8220;Loja Integrada&#8221;)</div>
            </td>
            <td colspan="1" style="width: 2%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 14%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">Brazil</div>
            </td>
            <td style="width: 13%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">Subsidiary</div>
            </td>
            <td style="width: 11%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">Technology Services</div>
            </td>
            <td style="width: 11%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">98.86</div>
            </td>
            <td style="width: 11%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">99.58</div>
            </td>
            <td style="width: 11%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">99.73</div>
            </td>
          </tr>
          <tr>
            <td style="width: 2%; vertical-align: top;" colspan="1">&#160;</td>
            <td style="width: 25%; vertical-align: top;">
              <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">VTEX Chile SPA (&#8220;VTEX CHI&#8221;)</div>
            </td>
            <td colspan="1" style="width: 2%; vertical-align: top;">&#160;</td>
            <td style="width: 14%; vertical-align: middle;">
              <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">Chile</div>
            </td>
            <td style="width: 13%; vertical-align: middle;">
              <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">Subsidiary</div>
            </td>
            <td style="width: 11%; vertical-align: middle;">
              <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">Technology Services</div>
            </td>
            <td style="width: 11%; vertical-align: middle;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">100</div>
            </td>
            <td style="width: 11%; vertical-align: middle;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">100</div>
            </td>
            <td style="width: 11%; vertical-align: middle;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">100</div>
            </td>
          </tr>
          <tr>
            <td style="width: 2%; vertical-align: top;" colspan="1">&#160;</td>
            <td style="width: 25%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">VTEX Colombia Tecnologia para Ecommerce S.A.S. (&#8220;VTEX COL&#8221;)&#160;</div>
            </td>
            <td colspan="1" style="width: 2%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 14%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">Colombia</div>
            </td>
            <td style="width: 13%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">Subsidiary</div>
            </td>
            <td style="width: 11%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">Technology Services</div>
            </td>
            <td style="width: 11%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">100</div>
            </td>
            <td style="width: 11%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">100</div>
            </td>
            <td style="width: 11%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">100</div>
            </td>
          </tr>
          <tr>
            <td style="width: 2%; vertical-align: top;" colspan="1">&#160;</td>
            <td style="width: 25%; vertical-align: top;">
              <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">VTEX Commerce Cloud Solutions LLC (&#8220;VTEX USA&#8221;)</div>
            </td>
            <td colspan="1" style="width: 2%; vertical-align: top;">&#160;</td>
            <td style="width: 14%; vertical-align: middle;">
              <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">USA</div>
            </td>
            <td style="width: 13%; vertical-align: middle;">
              <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">Subsidiary</div>
            </td>
            <td style="width: 11%; vertical-align: middle;">
              <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">Technology Services</div>
            </td>
            <td style="width: 11%; vertical-align: middle;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">100</div>
            </td>
            <td style="width: 11%; vertical-align: middle;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">100</div>
            </td>
            <td style="width: 11%; vertical-align: middle;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">100</div>
            </td>
          </tr>
          <tr>
            <td style="width: 2%; vertical-align: top;" colspan="1">&#160;</td>
            <td style="width: 25%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">VTEX Ecommerce Platform Limited (&#8220;VTEX UK&#8221;)&#160;</div>
            </td>
            <td colspan="1" style="width: 2%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 14%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">UK</div>
            </td>
            <td style="width: 13%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">Subsidiary</div>
            </td>
            <td style="width: 11%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">Technology Services</div>
            </td>
            <td style="width: 11%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">100</div>
            </td>
            <td style="width: 11%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">100</div>
            </td>
            <td style="width: 11%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">100</div>
            </td>
          </tr>
          <tr>
            <td style="width: 2%; vertical-align: top;" colspan="1">&#160;</td>
            <td style="width: 25%; vertical-align: top;">
              <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">VTEX Mexico Soluciones en Ecommerce S.R.L. de C.V. (&#8220;VTEX MEX&#8221;)</div>
            </td>
            <td colspan="1" style="width: 2%; vertical-align: top;">&#160;</td>
            <td style="width: 14%; vertical-align: middle;">
              <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">Mexico</div>
            </td>
            <td style="width: 13%; vertical-align: middle;">
              <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">Subsidiary</div>
            </td>
            <td style="width: 11%; vertical-align: middle;">
              <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">Technology Services</div>
            </td>
            <td style="width: 11%; vertical-align: middle;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">100</div>
            </td>
            <td style="width: 11%; vertical-align: middle;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">100</div>
            </td>
            <td style="width: 11%; vertical-align: middle;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">100</div>
            </td>
          </tr>
          <tr>
            <td style="width: 2%; vertical-align: top;" colspan="1">&#160;</td>
            <td style="width: 25%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">EICOM Business School S.A.P.I De C.V. (&#8220;Escuela&#8221;)&#160;</div>
            </td>
            <td colspan="1" style="width: 2%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 14%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">Mexico</div>
            </td>
            <td style="width: 13%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">Subsidiary</div>
            </td>
            <td style="width: 11%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">Technology Services</div>
            </td>
            <td style="width: 11%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">100</div>
            </td>
            <td style="width: 11%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">100</div>
            </td>
            <td style="width: 11%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">100</div>
            </td>
          </tr>
          <tr>
            <td style="width: 2%; vertical-align: top;" colspan="1">&#160;</td>
            <td style="width: 25%; vertical-align: top;">
              <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">Peru Tecnologia para ECOMMERCE S.A.C. (&#8220;VTEX PERU&#8221;)</div>
            </td>
            <td colspan="1" style="width: 2%; vertical-align: top;">&#160;</td>
            <td style="width: 14%; vertical-align: middle;">
              <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">Peru</div>
            </td>
            <td style="width: 13%; vertical-align: middle;">
              <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">Subsidiary</div>
            </td>
            <td style="width: 11%; vertical-align: middle;">
              <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">Technology Services</div>
            </td>
            <td style="width: 11%; vertical-align: middle;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">100</div>
            </td>
            <td style="width: 11%; vertical-align: middle;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">100</div>
            </td>
            <td style="width: 11%; vertical-align: middle;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">100</div>
            </td>
          </tr>
          <tr>
            <td style="width: 2%; vertical-align: top;" colspan="1">&#160;</td>
            <td style="width: 25%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">VTEX Platform Espa&#241;a, S.L. ("VTEX ESP")</div>
            </td>
            <td colspan="1" style="width: 2%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 14%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">Spain</div>
            </td>
            <td style="width: 13%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">Subsidiary</div>
            </td>
            <td style="width: 11%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">Technology Services</div>
            </td>
            <td style="width: 11%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">100</div>
            </td>
            <td style="width: 11%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">100</div>
            </td>
            <td style="width: 11%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">100</div>
            </td>
          </tr>
          <tr>
            <td style="width: 2%; vertical-align: top;" colspan="1">&#160;</td>
            <td style="width: 25%; vertical-align: top;">
              <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">VTEX Ecommerce Platform Limited - Sede Secondaria (&#8220;VTEX ITA&#8221;)&#160;</div>
            </td>
            <td colspan="1" style="width: 2%; vertical-align: top;">&#160;</td>
            <td style="width: 14%; vertical-align: middle;">
              <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">Italy</div>
            </td>
            <td style="width: 13%; vertical-align: middle;">
              <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">Branch</div>
            </td>
            <td style="width: 11%; vertical-align: middle;">
              <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">Technology Services</div>
            </td>
            <td style="width: 11%; vertical-align: middle;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">100</div>
            </td>
            <td style="width: 11%; vertical-align: middle;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">100</div>
            </td>
            <td style="width: 11%; vertical-align: middle;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">100</div>
            </td>
          </tr>
          <tr>
            <td style="width: 2%; vertical-align: top;" colspan="1">&#160;</td>
            <td style="width: 25%; vertical-align: top; background-color: rgb(204, 238, 255);">
              <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">VTEX Ecommerce Platform Limited London - Sucursala Bucuresti (&#8220;VTEX ROM&#8221;)</div>
            </td>
            <td colspan="1" style="width: 2%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 14%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">Romania</div>
            </td>
            <td style="width: 13%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">Branch</div>
            </td>
            <td style="width: 11%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">Technology Services</div>
            </td>
            <td style="width: 11%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">100</div>
            </td>
            <td style="width: 11%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">100</div>
            </td>
            <td style="width: 11%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">100</div>
            </td>
          </tr>
          <tr>
            <td style="width: 2%; vertical-align: top;" colspan="1">&#160;</td>
            <td style="width: 25%; vertical-align: top;">
              <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">VTEX Ecommerce Platform Limited &#8211; Sucursal em Portugal (&#8220;VTEX PORT&#8221;)</div>
            </td>
            <td colspan="1" style="width: 2%; vertical-align: top;">&#160;</td>
            <td style="width: 14%; vertical-align: middle;">
              <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">Portugal</div>
            </td>
            <td style="width: 13%; vertical-align: middle;">
              <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">Branch</div>
            </td>
            <td style="width: 11%; vertical-align: middle;">
              <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">Technology Services</div>
            </td>
            <td style="width: 11%; vertical-align: middle;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">100</div>
            </td>
            <td style="width: 11%; vertical-align: middle;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">100</div>
            </td>
            <td style="width: 11%; vertical-align: middle;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">100</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <div> The Group also holds VT Comercio, a joint venture (&#8220;JV&#8221;) established in July 2019 with a participation of 50%. On August 30, 2023 the Company announced the termination of the JV. However, the Group has elected to maintain its participation
        until the dissolution terms are finalized, which is expected to occur in the following months.</div>
      <div> <br>
      </div>
      <div> <br>
      </div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
        <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-weight: normal; font-style: normal;">9</font></div>
        <div style="page-break-after: always;" class="BRPFPageBreak">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        <div style="width: 100%;" class="BRPFPageHeader"></div>
      </div>
      <div style="text-align: justify; color: #000000;">
        <div style="color: rgb(0, 0, 0); font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-align: left; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">VTEX&#160;</div>
        <div style="color: rgb(0, 0, 0); font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-align: left; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">
          <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Notes to the condensed consolidated interim financial statements</div>
        </div>
        <div style="color: rgb(0, 0, 0); font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-align: left; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">(Unaudited)</div>
        <div style="color: rgb(0, 0, 0); font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-align: left; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">In thousands of U.S. dollars, unless otherwise indicated</div>
        <div style="color: rgb(0, 0, 0); font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-align: left; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">
          <hr noshade="noshade" align="left" style="height: 1pt; width: 100%; color: #000000; background-color: #000000; margin-left: 0px; margin-right: auto; border: none;"> </div>
      </div>
      <div> <br>
      </div>
      <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;" id="e26a468eab6b47ed8e7890370b970a92">

          <tr>
            <td style="width: 2%; text-align: left; vertical-align: top;"><font style="font-size: 12pt; font-weight: bold;">2</font><br>
            </td>
            <td style="width: 98%; font-weight: bold; font-size: 12pt;">
              <div><font style="font-family: 'Times New Roman',Times,serif; font-weight: bold;">Basis of presentation and consolidation</font></div>
              <div><font style="font-weight: normal; font-size: 10pt;"> <br>
                </font></div>
              <div><font style="font-weight: normal; font-size: 10pt;">The accounting policies described in detail below have been consistently applied to all periods presented in these unaudited condensed consolidated interim financial statements, unless
                  otherwise stated. The financial statements are applicable for the group consisting of VTEX and its subsidiaries. The accounting policies have been consistently applied by the Group.</font><font style="font-family: 'Times New Roman',Times,serif; font-weight: bold;"> </font></div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;" id="8ded4eedf99c4dfea39ca7eb55813d17">

          <tr>
            <td style="width: 2%; text-align: left; vertical-align: bottom;" colspan="1">&#160;</td>
            <td style="width: 2%; text-align: left; vertical-align: top;"><font style="font-weight: bold;">a.</font><br>
            </td>
            <td style="width: 96%; font-weight: bold;">
              <div>Basis for preparation of the unaudited condensed consolidated interim&#160;financial statements</div>
            </td>
          </tr>
          <tr>
            <td style="width: 2%; text-align: left; vertical-align: bottom;" colspan="1" rowspan="1">&#160;</td>
            <td style="text-align: left; vertical-align: top;" rowspan="1" colspan="2">
              <div style="text-align: justify; color: #000000;"> <br>
              </div>
              <div style="text-align: justify; color: #000000;">The unaudited condensed consolidated interim financial statements of VTEX Group for the nine-month period ended September 30, 2023, have been prepared in accordance with IAS 34 &#8211; Interim
                Financial Reporting as issued by the International Accounting Standards Board (&#8220;IASB&#8221;).</div>
              <div><br>
              </div>
              <div style="text-align: justify; color: #000000;">The unaudited interim condensed consolidated financial statements do not include all the information and disclosures required in an annual consolidated financial statement. Accordingly, this
                report is to be read in conjunction with the Group&#8217;s annual consolidated financial statements for the year ended December 31, 2022, and any public announcements made by the Group during the interim reporting period.</div>
              <div><br>
              </div>
              <div style="text-align: justify; color: #000000;">The accounting policies adopted are consistent with those of the previous financial year, except for the income tax estimation (see note 6) and the adoption of new and amended standards as set
                out below.</div>
              <div><br>
              </div>
              <div style="text-align: justify; color: #000000;">The unaudited condensed consolidated interim financial statements are presented in U.S. dollars (&#8220;USD&#8221; or &#8220;US$&#8221;), which is the Company&#8217;s functional and presentation currency. All amounts are
                rounded to the nearest thousands, except when otherwise indicated.</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <div><br>
      </div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
        <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-weight: normal; font-style: normal;">10</font></div>
        <div style="page-break-after: always;" class="BRPFPageBreak">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        <div style="width: 100%;" class="BRPFPageHeader"></div>
      </div>
      <div>
        <div style="color: rgb(0, 0, 0); font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">VTEX&#160;</div>
        <div style="color: rgb(0, 0, 0); font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">
          <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Notes to the condensed consolidated interim financial statements</div>
        </div>
        <div style="color: rgb(0, 0, 0); font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">(Unaudited)</div>
        <div style="color: rgb(0, 0, 0); font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">In thousands of U.S. dollars, unless otherwise indicated</div>
        <div style="color: rgb(0, 0, 0); font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">
          <hr noshade="noshade" align="left" style="height: 1pt; width: 100%; color: #000000; background-color: #000000; margin-left: 0px; margin-right: auto; border: none;"> </div>
      </div>
      <div> <br>
      </div>
      <table cellspacing="0" cellpadding="0" border="0" id="774291c8e98342dd97f00d6b7cb9e928" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;">

          <tr>
            <td colspan="1" style="width: 2%; text-align: left; vertical-align: bottom;">&#160;</td>
            <td style="width: 2%; text-align: left; vertical-align: top;"><font style="font-weight: bold;">b.</font><br>
            </td>
            <td style="width: 96%; font-weight: bold;">New standards, interpretations, and amendments adopted by the Group</td>
          </tr>
          <tr>
            <td colspan="1" rowspan="1" style="width: 2%; text-align: left; vertical-align: bottom;">&#160;</td>
            <td colspan="2" rowspan="1" style="text-align: left; vertical-align: top;">
              <div>
                <div><br>
                </div>
                <div>A number of amended standards became applicable for the current reporting period. The Group did not have to change its accounting policies or make retrospective adjustments as a result of adopting these amended standards. </div>
              </div>
            </td>
          </tr>

      </table>
      <div> <br>
      </div>
      <table cellspacing="0" cellpadding="0" border="0" id="ef757546e9bd4132bcaabda2516e94b3" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;">

          <tr>
            <td colspan="1" style="width: 2%; text-align: left; vertical-align: bottom;">&#160;</td>
            <td style="width: 2%; text-align: left; vertical-align: top;"><font style="font-weight: bold;">c.</font><br>
            </td>
            <td style="width: 96%; font-weight: bold;">Critical estimates and accounting judgments</td>
          </tr>
          <tr>
            <td colspan="1" rowspan="1" style="width: 2%; text-align: left; vertical-align: bottom;">&#160;</td>
            <td colspan="2" rowspan="1" style="text-align: left; vertical-align: top;">
              <div><br>
              </div>
              <div>
                <div style="text-align: justify; color: #000000;">Management has made judgments and estimates that affect the application of the Group&#8217;s accounting policies and the reported amounts of assets, liabilities, income, and expenses. Actual
                  results may differ from these estimates. Accounting estimates and judgments are continually evaluated based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the
                  circumstances. Revisions to estimates are recognized prospectively.</div>
                <div><br>
                </div>
                <div style="text-align: justify; color: #000000;">In preparing these unaudited condensed consolidated interim financial statements, the significant judgments and estimates made by management in applying the Group&#8217;s accounting policies and
                  the key sources of estimation uncertainty were the same as those set at the consolidated financial statements for the year ended December 31, 2022. No retrospective adjustments were made.</div>
              </div>
            </td>
          </tr>

      </table>
      <div> <br>
      </div>
      <div>
        <div><br>
        </div>
        <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;">

            <tr>
              <td style="width: 2%; text-align: left; vertical-align: top; font-size: 12pt;"><font style="font-family: 'Times New Roman',Times,serif; font-weight: bold;">3.</font></td>
              <td style="width: 98%; font-weight: bold; font-size: 12pt;">
                <div><font style="font-family: 'Times New Roman',Times,serif; font-weight: bold;">Cash and cash equivalents</font></div>
                <div><font style="font-weight: normal; font-size: 10pt;"> <br>
                  </font></div>
                <div><font style="font-weight: normal; font-size: 10pt;">The breakdown of cash and cash equivalents is as follows:</font><font style="font-family: 'Times New Roman',Times,serif; font-weight: bold;">&#160;</font></div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

            <tr>
              <td colspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 51.73%; vertical-align: bottom;">&#160;</td>
              <td style="width: 2.41%; vertical-align: bottom;">&#160;</td>
              <td style="width: 20.75%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; color: #000000; font-weight: bold;">September&#160;30,&#160;2023</div>
              </td>
              <td style="width: 2.36%; vertical-align: bottom;">&#160;</td>
              <td style="width: 20.74%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; color: #000000; font-weight: bold;">December&#160;31,&#160;2022</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 51.73%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="color: #000000;">Cash&#160;and&#160;cash&#160;bank&#160;deposits</div>
              </td>
              <td style="width: 2.41%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 20.75%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">16,651</div>
              </td>
              <td style="width: 2.36%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 20.74%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">18,930</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 51.73%; vertical-align: bottom;">
                <div style="color: #000000;">Time&#160;deposits,&#160;investment&#160;funds&#160;and&#160;others</div>
              </td>
              <td style="width: 2.41%; vertical-align: bottom;">&#160;</td>
              <td style="width: 20.75%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; color: #000000;">4,650</div>
              </td>
              <td style="width: 2.36%; vertical-align: bottom;">&#160;</td>
              <td style="width: 20.74%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; color: #000000;">5,464</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 51.73%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="color: #000000; font-weight: bold;">Total</div>
              </td>
              <td style="width: 2.41%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 20.75%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000; font-weight: bold;">21,301</div>
              </td>
              <td style="width: 2.36%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 20.74%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000; font-weight: bold;">24,394</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <div><br>
        </div>
      </div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
        <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-weight: normal; font-style: normal;">11</font></div>
        <div style="page-break-after: always;" class="BRPFPageBreak">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        <div style="width: 100%;" class="BRPFPageHeader"></div>
      </div>
      <!--PROfilePageNumberReset%Num%12%%%-->
      <div>
        <div>
          <div style="color: rgb(0, 0, 0); font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">VTEX&#160;</div>
          <div style="color: rgb(0, 0, 0); font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">
            <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Notes to the condensed consolidated interim financial statements</div>
          </div>
          <div style="color: rgb(0, 0, 0); font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">(Unaudited)</div>
          <div style="color: rgb(0, 0, 0); font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">In thousands of U.S. dollars, unless otherwise indicated</div>
          <div style="color: rgb(0, 0, 0); font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">
            <hr noshade="noshade" align="left" style="height: 1pt; width: 100%; color: #000000; background-color: #000000; margin-left: 0px; margin-right: auto; border: none;"> </div>
        </div>
        <div>
          <div><br>
          </div>
        </div>
        <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;" id="d15840802e43457d9da9bc81b12b4cc7">

            <tr>
              <td style="width: 2%; text-align: left; vertical-align: top; font-size: 12pt;"><font style="font-family: 'Times New Roman',Times,serif; font-weight: bold;">4</font></td>
              <td style="width: 98%; font-weight: bold; font-size: 12pt;"><font style="font-family: 'Times New Roman',Times,serif; font-weight: bold;">Short-term investments</font></td>
            </tr>

        </table>
        <div><br>
        </div>
        <table cellspacing="0" cellpadding="0" id="z36b7715fdb4d4e3bb8bd4a83a2a71022" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

            <tr>
              <td colspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 51.68%; vertical-align: bottom;">&#160;</td>
              <td style="width: 2.38%; vertical-align: bottom;">&#160;</td>
              <td style="width: 20.78%; vertical-align: bottom; border-bottom: #000000 2px solid;">
                <div style="text-align: right; color: #000000; font-weight: bold;">September&#160;30,&#160;2023</div>
              </td>
              <td style="width: 2.38%; vertical-align: bottom;">&#160;</td>
              <td style="width: 20.77%; vertical-align: bottom; border-bottom: #000000 2px solid;">
                <div style="text-align: right; color: #000000; font-weight: bold;">December&#160;31,&#160;2022</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 51.68%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="color: #000000;">Investments&#160;funds&#160;</div>
              </td>
              <td style="width: 2.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 20.78%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">95,459</div>
              </td>
              <td style="width: 2.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 20.77%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">204,045</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 51.68%; vertical-align: bottom;">
                <div style="color: #000000;">Time&#160;deposits&#160;and&#160;others&#160;</div>
              </td>
              <td style="width: 2.38%; vertical-align: bottom;">&#160;</td>
              <td style="width: 20.78%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; color: #000000;">96,946</div>
              </td>
              <td style="width: 2.38%; vertical-align: bottom;">&#160;</td>
              <td style="width: 20.77%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; color: #000000;">10,119</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 51.68%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="color: #000000; font-weight: bold;">Short-term&#160;investments</div>
              </td>
              <td style="width: 2.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 20.78%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000; font-weight: bold;">192,405</div>
              </td>
              <td style="width: 2.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 20.77%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000; font-weight: bold;">214,164</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <div><br>
        </div>
        <table cellspacing="0" cellpadding="0" border="0" id="6f64b4e8aeac47838b1d6b5b24422657" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;">

            <tr>
              <td style="width: 2%; text-align: left; vertical-align: top; font-size: 12pt;">&#160;</td>
              <td style="width: 98%; font-weight: bold; text-align: left; vertical-align: bottom;">
                <div>4.1&#160; Investment funds</div>
                <div> <font style="font-weight: normal;"><br>
                  </font></div>
                <div><font style="font-weight: normal;">The following table shows the changes in the balances:</font> </div>
              </td>
            </tr>

        </table>
        <div style="color: #000000; font-weight: bold;"><br>
        </div>
        <table cellspacing="0" cellpadding="0" id="zfbff22e021494110905452bc0332d6a1" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

            <tr>
              <td colspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 68%; vertical-align: bottom;">&#160;</td>
              <td style="width: 3.11%; vertical-align: bottom;">&#160;</td>
              <td style="width: 26.89%; vertical-align: bottom; border-bottom: #000000 2px solid;">
                <div style="text-align: right; color: #000000; font-weight: bold;">2023</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 68%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="color: #000000; font-weight: bold;">Opening&#160;balance&#160;on&#160;January&#160;1</div>
              </td>
              <td style="width: 3.11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 26.89%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000; font-weight: bold;">204,045</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 68%; vertical-align: bottom;">
                <div style="color: #000000;">Additions</div>
              </td>
              <td style="width: 3.11%; vertical-align: bottom;">&#160;</td>
              <td style="width: 26.89%; vertical-align: bottom;">
                <div style="text-align: right; color: #000000;">7,158</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 68%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="color: #000000;">Redemption</div>
              </td>
              <td style="width: 3.11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 26.89%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">(120,670)</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 68%; vertical-align: bottom;">
                <div style="color: #000000;">Fair&#160;value&#160;gains,&#160;net</div>
              </td>
              <td style="width: 3.11%; vertical-align: bottom;">&#160;</td>
              <td style="width: 26.89%; vertical-align: bottom;">
                <div style="text-align: right; color: #000000;">6,928</div>
              </td>
            </tr>
            <tr>
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              <td style="width: 68%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
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              <td style="width: 26.89%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">(2,002)</div>
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            <tr>
              <td colspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 68%; vertical-align: bottom;">
                <div style="color: #000000; font-weight: bold;">Closing&#160;balance&#160;on&#160;September&#160;30</div>
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              <td style="width: 3.11%; vertical-align: bottom;">&#160;</td>
              <td style="width: 26.89%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; color: #000000; font-weight: bold;">95,459</div>
              </td>
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        </table>
        <div><br>
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        <div><br>
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        <table cellspacing="0" cellpadding="0" border="0" id="3c7900e166614572813fff3b39765dd5" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;">

            <tr>
              <td style="width: 2%; text-align: left; vertical-align: top; font-size: 12pt;">&#160;</td>
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                  The following table shows the changes in the balances:<br>
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              </td>
            </tr>

        </table>
        <div style="color: #000000; font-weight: bold;"><br>
        </div>
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      <div>
        <table cellspacing="0" cellpadding="0" id="z9e71026760ca499fb696b6ce98ee9aa5" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

            <tr>
              <td colspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 68.01%; vertical-align: bottom;">&#160;</td>
              <td style="width: 3.11%; vertical-align: bottom;">&#160;</td>
              <td style="width: 26.88%; vertical-align: bottom; border-bottom: #000000 2px solid;">
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            <tr>
              <td colspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 68.01%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
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              <td style="width: 3.11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 26.88%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000; font-weight: bold;">10,119</div>
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            <tr>
              <td colspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 68.01%; vertical-align: bottom;">
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              <td style="width: 3.11%; vertical-align: bottom;">&#160;</td>
              <td style="width: 26.88%; vertical-align: bottom;">
                <div style="text-align: right; color: #000000;">105,192</div>
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            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 68.01%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="color: #000000;">Redemption</div>
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              <td style="width: 3.11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 26.88%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">(18,788)</div>
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            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 68.01%; vertical-align: bottom;">
                <div style="color: #000000;">Accrued&#160;interest</div>
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              <td style="width: 3.11%; vertical-align: bottom;">&#160;</td>
              <td style="width: 26.88%; vertical-align: bottom;">
                <div style="text-align: right; color: #000000;">7,934</div>
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            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 68.01%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="color: #000000;">Exchange&#160;differences</div>
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              <td style="width: 3.11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 26.88%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">(7,511)</div>
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            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 68.01%; vertical-align: bottom;">
                <div style="color: #000000; font-weight: bold;">Closing&#160;balance&#160;on&#160;September&#160;30</div>
              </td>
              <td style="width: 3.11%; vertical-align: bottom;">&#160;</td>
              <td style="width: 26.88%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; color: #000000; font-weight: bold;">96,946</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <div><br>
        </div>
        <table cellspacing="0" cellpadding="0" border="0" id="b25cbf6ba593445eb42fa5ce76dcecb2" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;">

            <tr>
              <td style="width: 2%; text-align: left; vertical-align: top; font-size: 12pt;"><font style="font-weight: bold;">5</font></td>
              <td style="width: 98%; font-weight: bold; font-size: 12pt; text-align: left; vertical-align: bottom;">
                <div><font style="font-weight: bold;">Trade receivables</font></div>
                <div><font style="font-weight: bold;"> <font style="font-size: 10pt;"><br>
                    </font></font></div>
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              </td>
            </tr>

        </table>
        <div>&#160;</div>
        <table cellspacing="0" cellpadding="0" id="z1ca0ec18d03543e9b4cfc0c684f054b4" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

            <tr>
              <td colspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 51.68%; vertical-align: bottom;">&#160;</td>
              <td style="width: 2.38%; vertical-align: bottom;">&#160;</td>
              <td style="width: 20.78%; vertical-align: bottom; border-bottom: #000000 2px solid;">
                <div style="text-align: right; color: #000000; font-weight: bold;">September&#160;30,&#160;2023</div>
              </td>
              <td style="width: 2.38%; vertical-align: bottom;">&#160;</td>
              <td style="width: 20.77%; vertical-align: bottom; border-bottom: #000000 2px solid;">
                <div style="text-align: right; color: #000000; font-weight: bold;">December&#160;31,&#160;2022</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 51.68%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="color: #000000;">Trade&#160;receivables&#160;</div>
              </td>
              <td style="width: 2.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 20.78%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">48,407</div>
              </td>
              <td style="width: 2.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 20.77%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">43,084</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 51.68%; vertical-align: bottom;">
                <div style="color: #000000;">Expected&#160;credit&#160;losses&#160;</div>
              </td>
              <td style="width: 2.38%; vertical-align: bottom;">&#160;</td>
              <td style="width: 20.78%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; color: #000000;">(896)</div>
              </td>
              <td style="width: 2.38%; vertical-align: bottom;">&#160;</td>
              <td style="width: 20.77%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; color: #000000;">(808)</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 51.68%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="color: #000000; font-weight: bold;">Total&#160;trade&#160;receivables</div>
              </td>
              <td style="width: 2.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 20.78%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000; font-weight: bold;">47,511</div>
              </td>
              <td style="width: 2.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 20.77%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000; font-weight: bold;">42,276</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: middle;">&#160;</td>
              <td style="width: 51.68%; vertical-align: middle;">&#160;</td>
              <td style="width: 2.38%; vertical-align: middle;">&#160;</td>
              <td style="width: 20.78%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td style="width: 2.38%; vertical-align: middle;">&#160;</td>
              <td style="width: 20.77%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 51.68%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="color: #000000;">Current</div>
              </td>
              <td style="width: 2.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 20.78%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">41,591</div>
              </td>
              <td style="width: 2.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 20.77%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">36,844</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 51.68%; vertical-align: bottom;">
                <div style="color: #000000;">Non-current</div>
              </td>
              <td style="width: 2.38%; vertical-align: bottom;">&#160;</td>
              <td style="width: 20.78%; vertical-align: bottom;">
                <div style="text-align: right; color: #000000;">5,920</div>
              </td>
              <td style="width: 2.38%; vertical-align: bottom;">&#160;</td>
              <td style="width: 20.77%; vertical-align: bottom;">
                <div style="text-align: right; color: #000000;">5,432</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <div><br>
        </div>
        <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-weight: normal; font-style: normal;">12</font></div>
          <div class="BRPFPageBreak" style="page-break-after: always;">
            <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
          <div style="width: 100%;" class="BRPFPageHeader"></div>
        </div>
        <div>
          <div style="color: rgb(0, 0, 0); font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">VTEX&#160;</div>
          <div style="color: rgb(0, 0, 0); font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">
            <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Notes to the condensed consolidated interim financial statements</div>
          </div>
          <div style="color: rgb(0, 0, 0); font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">(Unaudited)</div>
          <div style="color: rgb(0, 0, 0); font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">In thousands of U.S. dollars, unless otherwise indicated</div>
          <div style="color: rgb(0, 0, 0); font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">
            <hr noshade="noshade" align="left" style="height: 1pt; width: 100%; color: #000000; background-color: #000000; margin-left: 0px; margin-right: auto; border: none;"> </div>
          <div style="color: rgb(0, 0, 0); font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;"> <br>
          </div>
        </div>
        <table cellspacing="0" cellpadding="0" border="0" id="151e89f1ebe84fcebfb054d8ac2bf548" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;">

            <tr>
              <td style="width: 2%; text-align: left; vertical-align: top; font-size: 12pt;">&#160;</td>
              <td style="width: 98%; font-weight: bold; font-size: 12pt; text-align: left; vertical-align: bottom;"><font style="font-weight: normal; font-size: 10pt;">The changes in expected credit losses for trade receivables are as follows:</font></td>
            </tr>

        </table>
        <div><br>
        </div>
        <table cellspacing="0" cellpadding="0" id="z39593c94592d49f1baeb92631ae9a3db" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

            <tr>
              <td colspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 67.97%; vertical-align: bottom;">&#160;</td>
              <td style="width: 3.17%; vertical-align: bottom;">&#160;</td>
              <td style="width: 26.86%; vertical-align: bottom;">
                <div style="text-align: right; color: #000000; font-weight: bold;">2023</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 67.97%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="color: #000000; font-weight: bold;">Opening&#160;balance&#160;on&#160;January&#160;1</div>
              </td>
              <td style="width: 3.17%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 26.86%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000; font-weight: bold;">(808)</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 67.97%; vertical-align: bottom;">
                <div style="color: #000000;">Addition,&#160;net&#160;</div>
              </td>
              <td style="width: 3.17%; vertical-align: bottom;">&#160;</td>
              <td style="width: 26.86%; vertical-align: bottom;">
                <div style="text-align: right; color: #000000;">(1,093)</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 67.97%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="color: #000000;">Write-off&#160;</div>
              </td>
              <td style="width: 3.17%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 26.86%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">997</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 67.97%; vertical-align: bottom;">
                <div style="color: #000000;">Exchange&#160;differences&#160;</div>
              </td>
              <td style="width: 3.17%; vertical-align: bottom;">&#160;</td>
              <td style="width: 26.86%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; color: #000000;">8</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 67.97%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="color: #000000; font-weight: bold;">Closing&#160;balance&#160;on&#160;September&#160;30</div>
              </td>
              <td style="width: 3.17%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 26.86%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000; font-weight: bold;">(896)</div>
              </td>
            </tr>

        </table>
        <div style="color: #000000;"> <br>
        </div>
        <table cellspacing="0" cellpadding="0" border="0" id="e101924fd4674385b028b0a99312eca9" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;">

            <tr>
              <td style="width: 2%; text-align: left; vertical-align: top; font-size: 12pt;">&#160;</td>
              <td style="width: 98%; font-weight: normal; text-align: left; vertical-align: bottom;">The trade receivables by maturity are distributed as follows:</td>
            </tr>

        </table>
        <div style="color: #000000;"><br>
        </div>
        <table cellspacing="0" cellpadding="0" id="z6f41cca393a3467a9a8fb93c409e8e06" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

            <tr>
              <td colspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 51.68%; vertical-align: bottom;">&#160;</td>
              <td style="width: 2.38%; vertical-align: bottom;">&#160;</td>
              <td style="width: 20.78%; vertical-align: bottom; border-bottom: #000000 2px solid;">
                <div style="text-align: right; color: #000000; font-weight: bold;">September&#160;30,&#160;2023</div>
              </td>
              <td style="width: 2.38%; vertical-align: bottom;">&#160;</td>
              <td style="width: 20.77%; vertical-align: bottom; border-bottom: #000000 2px solid;">
                <div style="text-align: right; color: #000000; font-weight: bold;">December&#160;31,&#160;2022</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 51.68%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="color: #000000; font-weight: bold;">Current&#160;</div>
              </td>
              <td style="width: 2.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 20.78%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">45,417</div>
              </td>
              <td style="width: 2.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 20.77%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">39,188</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 51.68%; vertical-align: bottom;">
                <div style="color: #000000; font-weight: bold;">Overdue:</div>
              </td>
              <td style="width: 2.38%; vertical-align: bottom;">&#160;</td>
              <td style="width: 20.78%; vertical-align: bottom;">&#160;</td>
              <td style="width: 2.38%; vertical-align: bottom;">&#160;</td>
              <td style="width: 20.77%; vertical-align: bottom;">&#160;</td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 51.68%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="color: #000000;">From&#160;1&#160;to&#160;30&#160;days&#160;</div>
              </td>
              <td style="width: 2.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 20.78%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">1,331</div>
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              <td style="width: 2.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 20.77%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">2,087</div>
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            <tr>
              <td colspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 51.68%; vertical-align: bottom;">
                <div style="color: #000000;">From&#160;31&#160;to&#160;60&#160;days&#160;</div>
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              <td style="width: 2.38%; vertical-align: bottom;">&#160;</td>
              <td style="width: 20.78%; vertical-align: bottom;">
                <div style="text-align: right; color: #000000;">452</div>
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              <td style="width: 2.38%; vertical-align: bottom;">&#160;</td>
              <td style="width: 20.77%; vertical-align: bottom;">
                <div style="text-align: right; color: #000000;">454</div>
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            <tr>
              <td colspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 51.68%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="color: #000000;">From&#160;61&#160;to&#160;90&#160;days&#160;</div>
              </td>
              <td style="width: 2.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 20.78%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">257</div>
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              <td style="width: 2.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 20.77%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">359</div>
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            <tr>
              <td colspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 51.68%; vertical-align: bottom;">
                <div style="color: #000000;">From&#160;91&#160;to&#160;120&#160;days&#160;</div>
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              <td style="width: 20.78%; vertical-align: bottom;">
                <div style="text-align: right; color: #000000;">234</div>
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              <td style="width: 2.38%; vertical-align: bottom;">&#160;</td>
              <td style="width: 20.77%; vertical-align: bottom;">
                <div style="text-align: right; color: #000000;">295</div>
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            <tr>
              <td colspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 51.68%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="color: #000000;">From&#160;121&#160;to&#160;300&#160;days&#160;</div>
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              <td style="width: 2.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 20.78%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">716</div>
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              <td style="width: 2.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 20.77%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">701</div>
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            <tr>
              <td colspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 51.68%; vertical-align: bottom;">
                <div style="color: #000000; font-weight: bold;">Total</div>
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              <td style="width: 2.38%; vertical-align: bottom;">&#160;</td>
              <td style="width: 20.78%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; color: #000000; font-weight: bold;">48,407</div>
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              <td style="width: 2.38%; vertical-align: bottom;">&#160;</td>
              <td style="width: 20.77%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; color: #000000; font-weight: bold;">43,084</div>
              </td>
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        </table>
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        <div><br>
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        <table cellspacing="0" cellpadding="0" border="0" id="b98e424964ad4a2a87e5deb0d24da58a" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;">

            <tr>
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              <td style="width: 98%; font-weight: bold; font-size: 12pt; text-align: left; vertical-align: bottom;">
                <div>Current and deferred tax</div>
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                <div><font style="font-size: 10pt;">6.1&#160; Deferred tax assets </font>
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        <table cellspacing="0" cellpadding="0" id="zb177fa9cdaba42b3907a2d05ce0907f0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

            <tr>
              <td colspan="1" style="width: 2%; vertical-align: middle;">&#160;</td>
              <td style="width: 51.86%; vertical-align: middle;">&#160;</td>
              <td style="width: 3%; vertical-align: middle;">&#160;</td>
              <td style="width: 20.07%; vertical-align: bottom; border-bottom: #000000 2px solid;">
                <div style="text-align: right; color: #000000; font-weight: bold;">September 30, 2023</div>
              </td>
              <td style="width: 3%; vertical-align: bottom;">&#160;</td>
              <td style="width: 20.06%; vertical-align: bottom; border-bottom: #000000 2px solid;">
                <div style="text-align: right; color: #000000; font-weight: bold;">December 31, 2022</div>
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            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: middle;">&#160;</td>
              <td style="width: 51.86%; vertical-align: middle; background-color: rgb(204, 238, 255);">
                <div style="color: #000000;">Loss allowances for financial assets</div>
              </td>
              <td style="width: 3%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 20.07%; vertical-align: middle; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">315&#160;</div>
              </td>
              <td style="width: 3%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 20.06%; vertical-align: middle; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">270&#160;</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: middle;">&#160;</td>
              <td style="width: 51.86%; vertical-align: middle;">
                <div style="color: #000000;">Bonus provision</div>
              </td>
              <td style="width: 3%; vertical-align: middle;">&#160;</td>
              <td style="width: 20.07%; vertical-align: middle;">
                <div style="text-align: right; color: #000000;">1,556&#160;</div>
              </td>
              <td style="width: 3%; vertical-align: middle;">&#160;</td>
              <td style="width: 20.06%; vertical-align: middle;">
                <div style="text-align: right; color: #000000;">1,712&#160;</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: middle;">&#160;</td>
              <td style="width: 51.86%; vertical-align: middle; background-color: rgb(204, 238, 255);">
                <div style="color: #000000;">Lease</div>
              </td>
              <td style="width: 3%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 20.07%; vertical-align: middle; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">396&#160;</div>
              </td>
              <td style="width: 3%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 20.06%; vertical-align: middle; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">392&#160;</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: middle;">&#160;</td>
              <td style="width: 51.86%; vertical-align: middle;">
                <div style="color: #000000;">Share-based compensation</div>
              </td>
              <td style="width: 3%; vertical-align: middle;">&#160;</td>
              <td style="width: 20.07%; vertical-align: middle;">
                <div style="text-align: right; color: #000000;">3,524&#160;</div>
              </td>
              <td style="width: 3%; vertical-align: middle;">&#160;</td>
              <td style="width: 20.06%; vertical-align: middle;">
                <div style="text-align: right; color: #000000;">3,130&#160;</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: middle;">&#160;</td>
              <td style="width: 51.86%; vertical-align: middle; background-color: rgb(204, 238, 255);">
                <div style="color: #000000;">Tax loss (i)</div>
              </td>
              <td style="width: 3%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 20.07%; vertical-align: middle; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">12,955&#160;</div>
              </td>
              <td style="width: 3%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 20.06%; vertical-align: middle; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">10,513&#160;</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: middle;">&#160;</td>
              <td style="width: 51.86%; vertical-align: middle;">
                <div style="color: #000000;">Others (ii)</div>
              </td>
              <td style="width: 3%; vertical-align: middle;">&#160;</td>
              <td style="width: 20.07%; vertical-align: middle;">
                <div style="text-align: right; color: #000000;">1,985&#160;</div>
              </td>
              <td style="width: 3%; vertical-align: middle;">&#160;</td>
              <td style="width: 20.06%; vertical-align: middle;">
                <div style="text-align: right; color: #000000;">1,693&#160;</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: middle;">&#160;</td>
              <td style="width: 51.86%; vertical-align: middle; background-color: rgb(204, 238, 255);">
                <div style="text-align: justify; color: #000000; font-weight: bold;">Total deferred tax assets&#160;</div>
              </td>
              <td style="width: 3%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 20.07%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000; font-weight: bold;">20,731&#160;</div>
              </td>
              <td style="width: 3%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 20.06%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000; font-weight: bold;">17,710&#160;</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" border="0" id="zded39bb0a3464d41af1d9bc4fc61d201" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;">

              <tr>
                <td style="width: 2%;">
                  <div>&#160;</div>
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                <td style="width: 98%;">
                  <div style="text-align: justify; font-size: 8pt;">(i) Tax losses increase is driven mainly by the current investment position of the Brazilian operations. These amounts are expected to be offset in the foreseeable future.</div>
                  <div style="text-align: justify; color: #000000; font-size: 8pt;">(ii) This amount refers mainly to temporary differences over accrued expenses.</div>
                </td>
              </tr>

          </table>
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        </div>
        <br>
        <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-weight: normal; font-style: normal;">13</font></div>
          <div class="BRPFPageBreak" style="page-break-after: always;">
            <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
          <div style="width: 100%;" class="BRPFPageHeader"></div>
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        <div>
          <div style="color: rgb(0, 0, 0); font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">VTEX&#160;</div>
          <div style="color: rgb(0, 0, 0); font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">
            <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Notes to the condensed consolidated interim financial statements</div>
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          <div style="color: rgb(0, 0, 0); font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">In thousands of U.S. dollars, unless otherwise indicated</div>
          <div style="color: rgb(0, 0, 0); font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">
            <hr noshade="noshade" align="left" style="height: 1pt; width: 100%; color: #000000; background-color: #000000; margin-left: 0px; margin-right: auto; border: none;"> </div>
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        <br>
        <table cellspacing="0" cellpadding="0" border="0" id="9b3fe1b6386f416abec411bdbd57b5df" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;">

            <tr>
              <td style="width: 2%;">&#160;</td>
              <td style="width: 98%; font-weight: bold;">
                <div>6.2&#160; Deferred tax liabilities</div>
                <div> <br>
                </div>
                <div><font style="font-weight: normal;">The balance comprises temporary differences attributable to:</font> </div>
              </td>
            </tr>

        </table>
        <div style="text-indent: 7.1pt; font-weight: bold;">&#160;</div>
        <table cellspacing="0" cellpadding="0" id="z992c5cddc7c64ca09134ccf3eed6e899" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

            <tr>
              <td colspan="1" style="width: 2%; vertical-align: middle;">&#160;</td>
              <td style="width: 51.86%; vertical-align: middle;">&#160;</td>
              <td style="width: 3%; vertical-align: middle;">&#160;</td>
              <td style="width: 20.07%; vertical-align: bottom; border-bottom: #000000 2px solid;">
                <div style="text-align: right; color: #000000; font-weight: bold;">September 30, 2023</div>
              </td>
              <td style="width: 3%; vertical-align: bottom;">&#160;</td>
              <td style="width: 20.06%; vertical-align: bottom; border-bottom: #000000 2px solid;">
                <div style="text-align: right; color: #000000; font-weight: bold;">December 31, 2022</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: middle;">&#160;</td>
              <td style="width: 51.86%; vertical-align: middle; background-color: rgb(204, 238, 255);">
                <div style="color: #000000;">Acquisition of subsidiaries</div>
              </td>
              <td style="width: 3%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 20.07%; vertical-align: middle; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">1,206</div>
              </td>
              <td style="width: 3%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 20.06%; vertical-align: middle; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">1,409</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: middle;">&#160;</td>
              <td style="width: 51.86%; vertical-align: middle;">
                <div style="color: #000000;">Temporary differences</div>
              </td>
              <td style="width: 3%; vertical-align: middle;">&#160;</td>
              <td style="width: 20.07%; vertical-align: middle;">
                <div style="text-align: right; color: #000000;">1,304</div>
              </td>
              <td style="width: 3%; vertical-align: middle;">&#160;</td>
              <td style="width: 20.06%; vertical-align: middle;">
                <div style="text-align: right; color: #000000;">827</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: middle;">&#160;</td>
              <td style="width: 51.86%; vertical-align: middle; background-color: rgb(204, 238, 255);">
                <div style="color: #000000;">Others</div>
              </td>
              <td style="width: 3%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 20.07%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">568</div>
              </td>
              <td style="width: 3%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 20.06%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">228</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: middle;">&#160;</td>
              <td style="width: 51.86%; vertical-align: middle;">
                <div style="color: #000000; font-weight: bold;">Total deferred tax liabilities</div>
              </td>
              <td style="width: 3%; vertical-align: middle;">&#160;</td>
              <td style="width: 20.07%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; color: #000000; font-weight: bold;">3,078&#160;</div>
              </td>
              <td style="width: 3%; vertical-align: middle;">&#160;</td>
              <td style="width: 20.06%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; color: #000000; font-weight: bold;">2,464&#160;</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <div><br>
        </div>
        <table cellspacing="0" cellpadding="0" border="0" id="bc4aa6336682489a954fd4dc52058d08" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;">

            <tr>
              <td style="width: 2%;">&#160;</td>
              <td style="width: 98%; font-weight: bold;">
                <div>6.3&#160; Income Tax expense</div>
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                  <div style="text-align: justify;"><font style="color: rgb(0, 0, 0); font-weight: normal;">Income tax </font><font style="font-weight: normal;">expense<font style="color: #000000;"> is recognized based on </font>M<font style="color: #000000;">anagement&#8217;s estimate of the weighted average effective annual income tax rate expected for the full financial year.</font></font></div>
                </div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <table cellspacing="0" cellpadding="0" id="zaec97e0995e34c0fa9f7cfd8477407b3" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

            <tr>
              <td colspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 39.73%; vertical-align: bottom;">&#160;</td>
              <td style="vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);" colspan="3">
                <div style="text-align: center; color: #000000; font-weight: bold;">Three&#160;months&#160;ended&#160;</div>
              </td>
              <td style="width: 2.22%; vertical-align: bottom;">&#160;</td>
              <td style="vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);" colspan="3">
                <div style="text-align: center; color: #000000; font-weight: bold;">Nine&#160;months&#160;ended</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 39.73%; vertical-align: bottom;">&#160;</td>
              <td style="width: 12.87%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; color: #000000; font-weight: bold;">September</div>
                <div style="text-align: right; color: #000000; font-weight: bold;">30,&#160;2023</div>
              </td>
              <td style="width: 2.22%; vertical-align: bottom;">&#160;</td>
              <td style="width: 12.87%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; color: #000000; font-weight: bold;">September</div>
                <div style="text-align: right; color: #000000; font-weight: bold;">30,&#160;2022</div>
              </td>
              <td style="width: 2.22%; vertical-align: bottom;">&#160;</td>
              <td style="width: 12.87%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; color: #000000; font-weight: bold;">September</div>
                <div style="text-align: right; color: #000000; font-weight: bold;">30,&#160;2023</div>
              </td>
              <td style="width: 2.33%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td style="width: 12.87%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; color: #000000; font-weight: bold;">September</div>
                <div style="text-align: right; color: #000000; font-weight: bold;">30,&#160;2022</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 39.73%; vertical-align: bottom;">
                <div style="color: #000000; font-weight: bold;">Current&#160;tax</div>
              </td>
              <td style="width: 12.87%; vertical-align: bottom;">&#160;</td>
              <td style="width: 2.22%; vertical-align: bottom;">&#160;</td>
              <td style="width: 12.87%; vertical-align: bottom;">&#160;</td>
              <td style="width: 2.22%; vertical-align: bottom;">&#160;</td>
              <td style="width: 12.87%; vertical-align: bottom;">&#160;</td>
              <td style="width: 2.33%; vertical-align: middle;">&#160;</td>
              <td style="width: 12.87%; vertical-align: bottom;">&#160;</td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 39.73%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="color: #000000;">Current&#160;tax&#160;on&#160;profits&#160;for&#160;the&#160;period&#160;</div>
              </td>
              <td style="width: 12.87%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">(50)</div>
              </td>
              <td style="width: 2.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 12.87%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">260</div>
              </td>
              <td style="width: 2.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 12.87%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">(2,317)</div>
              </td>
              <td style="width: 2.33%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 12.87%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">(741)</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 39.73%; vertical-align: bottom;">&#160;</td>
              <td style="width: 12.87%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; color: #000000; font-weight: bold;">(50)</div>
              </td>
              <td style="width: 2.22%; vertical-align: bottom;">&#160;</td>
              <td style="width: 12.87%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; color: #000000; font-weight: bold;">260</div>
              </td>
              <td style="width: 2.22%; vertical-align: bottom;">&#160;</td>
              <td style="width: 12.87%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; color: #000000; font-weight: bold;">(2,317)</div>
              </td>
              <td style="width: 2.33%; vertical-align: middle;">&#160;</td>
              <td style="width: 12.87%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; color: #000000; font-weight: bold;">(741)</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 39.73%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="color: #000000; font-weight: bold;">Deferred&#160;income&#160;tax</div>
              </td>
              <td style="width: 12.87%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 2.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 12.87%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 2.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 12.87%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 2.33%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 12.87%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 39.73%; vertical-align: bottom;">
                <div style="color: #000000;">Decrease&#160;(increase)&#160;in&#160;deferred&#160;tax</div>
              </td>
              <td style="width: 12.87%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; color: #000000;">(214)</div>
              </td>
              <td style="width: 2.22%; vertical-align: bottom;">&#160;</td>
              <td style="width: 12.87%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; color: #000000;">(590)</div>
              </td>
              <td style="width: 2.22%; vertical-align: bottom;">&#160;</td>
              <td style="width: 12.87%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; color: #000000;">2,068</div>
              </td>
              <td style="width: 2.33%; vertical-align: middle;">&#160;</td>
              <td style="width: 12.87%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; color: #000000;">5,115</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 39.73%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 12.87%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000; font-weight: bold;">(214)</div>
              </td>
              <td style="width: 2.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 12.87%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000; font-weight: bold;">(590)</div>
              </td>
              <td style="width: 2.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 12.87%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000; font-weight: bold;">2,068</div>
              </td>
              <td style="width: 2.33%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 12.87%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000; font-weight: bold;">5,115</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: middle;">&#160;</td>
              <td style="width: 39.73%; vertical-align: middle;">&#160;</td>
              <td style="width: 12.87%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td style="width: 2.22%; vertical-align: middle;">&#160;</td>
              <td style="width: 12.87%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td style="width: 2.22%; vertical-align: middle;">&#160;</td>
              <td style="width: 12.87%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td style="width: 2.33%; vertical-align: middle;">&#160;</td>
              <td style="width: 12.87%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: middle;">&#160;</td>
              <td style="width: 39.73%; vertical-align: middle; background-color: rgb(204, 238, 255);">
                <div style="color: #000000; font-weight: bold;">Income&#160;tax</div>
              </td>
              <td style="width: 12.87%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000; font-weight: bold;">(264)</div>
              </td>
              <td style="width: 2.22%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 12.87%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000; font-weight: bold;">(330)</div>
              </td>
              <td style="width: 2.22%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 12.87%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000; font-weight: bold;">(249)</div>
              </td>
              <td style="width: 2.33%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 12.87%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000; font-weight: bold;">4,374</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <div><br>
        </div>
        <table cellspacing="0" cellpadding="0" border="0" id="39e5ab23c21b4d05be560d839ee1aec4" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;">

            <tr>
              <td style="width: 2%; text-align: left; vertical-align: top;"><font style="font-weight: bold; font-size: 12pt;">7</font><br>
              </td>
              <td style="width: 98%; font-weight: bold; font-size: 12pt; text-align: left; vertical-align: bottom;">
                <div>Leases</div>
                <div> <br>
                </div>
                <div><font style="font-size: 10pt;">7.1 Amounts recognized in the balance sheets</font> </div>
                <div><font style="font-size: 10pt;"> <br>
                  </font></div>
                <div style="font-weight: normal; font-size: 10pt;">The balance sheets show the following amounts related to leases: </div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <div> </div>
        <table cellspacing="0" cellpadding="0" id="z17abc9fad12548058602bfcbc5d22830" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

            <tr>
              <td colspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 51.65%; vertical-align: bottom;">&#160;</td>
              <td style="width: 2.39%; vertical-align: bottom;">&#160;</td>
              <td style="width: 20.78%; vertical-align: bottom; border-bottom: #000000 2px solid;">
                <div style="text-align: right; color: #000000; font-weight: bold;">September&#160;30,&#160;2023</div>
              </td>
              <td style="width: 2.39%; vertical-align: bottom;">&#160;</td>
              <td style="width: 20.78%; vertical-align: bottom; border-bottom: #000000 2px solid;">
                <div style="text-align: right; color: #000000; font-weight: bold;">December&#160;31,&#160;2022</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: middle;">&#160;</td>
              <td style="width: 51.65%; vertical-align: middle;">
                <div style="color: #000000; font-weight: bold;">Right-of-use&#160;assets</div>
              </td>
              <td style="width: 2.39%; vertical-align: middle;">&#160;</td>
              <td style="width: 20.78%; vertical-align: middle; border-top: #000000 2px solid;">&#160;</td>
              <td style="width: 2.39%; vertical-align: middle;">&#160;</td>
              <td style="width: 20.78%; vertical-align: middle; border-top: #000000 2px solid;">&#160;</td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: middle;">&#160;</td>
              <td style="width: 51.65%; vertical-align: middle; background-color: rgb(204, 238, 255);">
                <div style="color: #000000;">Office&#160;buildings&#160;</div>
              </td>
              <td style="width: 2.39%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 20.78%; vertical-align: middle; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">3,658</div>
              </td>
              <td style="width: 2.39%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 20.78%; vertical-align: middle; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">4,818</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 51.65%; vertical-align: bottom;">
                <div style="color: #000000; font-weight: bold;">Total</div>
              </td>
              <td style="width: 2.39%; vertical-align: bottom;">&#160;</td>
              <td style="width: 20.78%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; color: #000000; font-weight: bold;">3,658</div>
              </td>
              <td style="width: 2.39%; vertical-align: bottom;">&#160;</td>
              <td style="width: 20.78%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; color: #000000; font-weight: bold;">4,818</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <div><br>
        </div>
        <table cellspacing="0" cellpadding="0" id="z96b1806eab70478f8b03cb1e9953c0e7" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

            <tr>
              <td colspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 51.63%; vertical-align: bottom;">&#160;</td>
              <td style="width: 2.43%; vertical-align: bottom;">&#160;</td>
              <td style="width: 20.77%; vertical-align: bottom; border-bottom: #000000 2px solid;">
                <div style="text-align: right; color: #000000; font-weight: bold;">September&#160;30,&#160;2023</div>
              </td>
              <td style="width: 2.39%; vertical-align: bottom;">&#160;</td>
              <td style="width: 20.77%; vertical-align: bottom; border-bottom: #000000 2px solid;">
                <div style="text-align: right; color: #000000; font-weight: bold;">December&#160;31,&#160;2022</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: middle;">&#160;</td>
              <td style="width: 51.63%; vertical-align: middle;">
                <div style="color: #000000; font-weight: bold;">Lease&#160;liabilities</div>
              </td>
              <td style="width: 2.43%; vertical-align: middle;">&#160;</td>
              <td style="width: 20.77%; vertical-align: middle; border-top: #000000 2px solid;">&#160;</td>
              <td style="width: 2.39%; vertical-align: middle;">&#160;</td>
              <td style="width: 20.77%; vertical-align: middle; border-top: #000000 2px solid;">&#160;</td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: middle;">&#160;</td>
              <td style="width: 51.63%; vertical-align: middle; background-color: rgb(204, 238, 255);">
                <div style="color: #000000;">Current</div>
              </td>
              <td style="width: 2.43%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 20.77%; vertical-align: middle; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">1,897</div>
              </td>
              <td style="width: 2.39%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 20.77%; vertical-align: middle; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">1,898</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: middle;">&#160;</td>
              <td style="width: 51.63%; vertical-align: middle;">
                <div style="color: #000000;">Non-current</div>
              </td>
              <td style="width: 2.43%; vertical-align: middle;">&#160;</td>
              <td style="width: 20.77%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; color: #000000;">2,817</div>
              </td>
              <td style="width: 2.39%; vertical-align: middle;">&#160;</td>
              <td style="width: 20.77%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; color: #000000;">3,737</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 51.63%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="color: #000000; font-weight: bold;">Total</div>
              </td>
              <td style="width: 2.43%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 20.77%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000; font-weight: bold;">4,714</div>
              </td>
              <td style="width: 2.39%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 20.77%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000; font-weight: bold;">5,635</div>
              </td>
            </tr>

        </table>
        <div> <br>
        </div>
        <div> <br>
        </div>
        <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-weight: normal; font-style: normal;">14</font></div>
          <div class="BRPFPageBreak" style="page-break-after: always;">
            <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
          <div style="width: 100%;" class="BRPFPageHeader"></div>
        </div>
        <div>
          <div style="color: rgb(0, 0, 0); font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">VTEX&#160;</div>
          <div style="color: rgb(0, 0, 0); font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">
            <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Notes to the condensed consolidated interim financial statements</div>
          </div>
          <div style="color: rgb(0, 0, 0); font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">(Unaudited)</div>
          <div style="color: rgb(0, 0, 0); font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">In thousands of U.S. dollars, unless otherwise indicated</div>
          <div style="color: rgb(0, 0, 0); font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">
            <hr noshade="noshade" align="left" style="height: 1pt; width: 100%; color: #000000; background-color: #000000; margin-left: 0px; margin-right: auto; border: none;"> </div>
        </div>
        <div> <br>
        </div>
        <table cellspacing="0" cellpadding="0" border="0" id="7ac8b0b5382d414587713e6fd1766af7" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;">

            <tr>
              <td style="width: 2%;">&#160;</td>
              <td style="width: 98%; font-weight: normal;">The following table shows the changes in the right-of-use asset and lease liabilities:</td>
            </tr>

        </table>
        <div><br>
        </div>
        <table cellspacing="0" cellpadding="0" id="z99fc32ca1e674423865f79447ba2414a" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

            <tr>
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              <td style="width: 68.03%; vertical-align: bottom;">&#160;</td>
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              <td style="width: 26.86%; vertical-align: bottom; border-bottom: #000000 2px solid;">
                <div style="text-align: right; color: #000000; font-weight: bold;">2023</div>
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            <tr>
              <td colspan="1" style="width: 2%; vertical-align: middle;">&#160;</td>
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              <td style="width: 3.11%; vertical-align: middle;">&#160;</td>
              <td style="width: 26.86%; vertical-align: middle; border-top: #000000 2px solid;">&#160;</td>
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            <tr>
              <td colspan="1" style="width: 2%; vertical-align: middle;">&#160;</td>
              <td style="width: 68.03%; vertical-align: middle; background-color: rgb(204, 238, 255);">
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              <td style="width: 3.11%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 26.86%; vertical-align: middle; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000; font-weight: bold;">4,818</div>
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            <tr>
              <td colspan="1" style="width: 2%; vertical-align: middle;">&#160;</td>
              <td style="width: 68.03%; vertical-align: middle;">
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              <td style="width: 3.11%; vertical-align: middle;">&#160;</td>
              <td style="width: 26.86%; vertical-align: middle;">
                <div style="text-align: right; color: #000000;">85</div>
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            <tr>
              <td colspan="1" style="width: 2%; vertical-align: middle;">&#160;</td>
              <td style="width: 68.03%; vertical-align: middle; background-color: rgb(204, 238, 255);">
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              <td style="width: 3.11%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 26.86%; vertical-align: middle; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">(1,117)</div>
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            <tr>
              <td colspan="1" style="width: 2%; vertical-align: middle;">&#160;</td>
              <td style="width: 68.03%; vertical-align: middle;">
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              <td style="width: 3.11%; vertical-align: middle;">&#160;</td>
              <td style="width: 26.86%; vertical-align: middle;">
                <div style="text-align: right; color: #000000;">(324)</div>
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            <tr>
              <td colspan="1" style="width: 2%; vertical-align: middle;">&#160;</td>
              <td style="width: 68.03%; vertical-align: middle; background-color: rgb(204, 238, 255);">
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              <td style="width: 3.11%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 26.86%; vertical-align: middle; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">5</div>
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            <tr>
              <td colspan="1" style="width: 2%; vertical-align: middle;">&#160;</td>
              <td style="width: 68.03%; vertical-align: middle;">
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                <div style="text-align: right; color: #000000;">191</div>
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            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: middle;">&#160;</td>
              <td style="width: 68.03%; vertical-align: middle; background-color: rgb(204, 238, 255);">
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              </td>
              <td style="width: 3.11%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 26.86%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000; font-weight: bold;">3,658</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: middle;">&#160;</td>
              <td style="width: 68.03%; vertical-align: middle;">&#160;</td>
              <td style="width: 3.11%; vertical-align: middle;">&#160;</td>
              <td style="width: 26.86%; vertical-align: middle;">&#160;</td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 68.03%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 3.11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 26.86%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000; font-weight: bold;">2023</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: middle;">&#160;</td>
              <td style="width: 68.03%; vertical-align: middle;">
                <div style="color: #000000; font-weight: bold;">Lease&#160;liabilities</div>
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              <td style="width: 3.11%; vertical-align: middle;">&#160;</td>
              <td style="width: 26.86%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: middle;">&#160;</td>
              <td style="width: 68.03%; vertical-align: middle; background-color: rgb(204, 238, 255);">
                <div style="color: #000000; font-weight: bold;">Opening&#160;balance&#160;on&#160;January&#160;1</div>
              </td>
              <td style="width: 3.11%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 26.86%; vertical-align: middle; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000; font-weight: bold;">5,635</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: middle;">&#160;</td>
              <td style="width: 68.03%; vertical-align: middle;">
                <div style="color: #000000;">New&#160;lease&#160;agreements</div>
              </td>
              <td style="width: 3.11%; vertical-align: middle;">&#160;</td>
              <td style="width: 26.86%; vertical-align: middle;">
                <div style="text-align: right; color: #000000;">85</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: middle;">&#160;</td>
              <td style="width: 68.03%; vertical-align: middle; background-color: rgb(204, 238, 255);">
                <div style="color: #000000;">Interest&#160;added</div>
              </td>
              <td style="width: 3.11%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 26.86%; vertical-align: middle; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">441</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: middle;">&#160;</td>
              <td style="width: 68.03%; vertical-align: middle;">
                <div style="color: #000000;">Principal&#160;elements&#160;of&#160;lease&#160;payments</div>
              </td>
              <td style="width: 3.11%; vertical-align: middle;">&#160;</td>
              <td style="width: 26.86%; vertical-align: middle;">
                <div style="text-align: right; color: #000000;">(1,152)</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: middle;">&#160;</td>
              <td style="width: 68.03%; vertical-align: middle; background-color: rgb(204, 238, 255);">
                <div style="color: #000000;">Interest&#160;payment</div>
              </td>
              <td style="width: 3.11%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 26.86%; vertical-align: middle; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">(440)</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: middle;">&#160;</td>
              <td style="width: 68.03%; vertical-align: middle;">
                <div style="color: #000000;">Write-off</div>
              </td>
              <td style="width: 3.11%; vertical-align: middle;">&#160;</td>
              <td style="width: 26.86%; vertical-align: middle;">
                <div style="text-align: right; color: #000000;">(94)</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: middle;">&#160;</td>
              <td style="width: 68.03%; vertical-align: middle; background-color: rgb(204, 238, 255);">
                <div style="color: #000000;">Exchange&#160;differences</div>
              </td>
              <td style="width: 3.11%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 26.86%; vertical-align: middle; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">239</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: middle;">&#160;</td>
              <td style="width: 68.03%; vertical-align: middle;">
                <div style="color: #000000; font-weight: bold;">Closing&#160;balance&#160;on&#160;September&#160;30</div>
              </td>
              <td style="width: 3.11%; vertical-align: middle;">&#160;</td>
              <td style="width: 26.86%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; color: #000000; font-weight: bold;">4,714</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <div><br>
        </div>
        <table cellspacing="0" cellpadding="0" border="0" id="f4bc5a8c369348b2a3457013b2bb6263" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;">

            <tr>
              <td style="width: 2%;">&#160;</td>
              <td style="width: 98%; font-weight: bold;">
                <div>7.2&#160; Amounts recognized in the statement of profit or loss</div>
                <div>
                  <div><br>
                  </div>
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                </div>
              </td>
            </tr>

        </table>
        <div style="font-weight: bold;"><br>
        </div>
        <table cellspacing="0" cellpadding="0" id="zb10dcfcb86ae488fad716454fa1e0620" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

            <tr>
              <td colspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 39.51%; vertical-align: bottom;">&#160;</td>
              <td style="vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);" colspan="3">
                <div style="text-align: center; color: #000000; font-weight: bold;">Three&#160;months&#160;ended&#160;</div>
              </td>
              <td style="width: 3.09%; vertical-align: bottom;">&#160;</td>
              <td style="vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);" colspan="3">
                <div style="text-align: center; color: #000000; font-weight: bold;">Nine&#160;months&#160;ended</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 39.51%; vertical-align: bottom;">&#160;</td>
              <td style="width: 12.66%; vertical-align: bottom; border-bottom: #000000 2px solid;">
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                <div style="text-align: right; color: #000000; font-weight: bold;">30,&#160;2023</div>
              </td>
              <td style="width: 2.34%; vertical-align: bottom;">&#160;</td>
              <td style="width: 12.67%; vertical-align: bottom; border-bottom: #000000 2px solid;">
                <div style="text-align: right; color: #000000; font-weight: bold;">September</div>
                <div style="text-align: right; color: #000000; font-weight: bold;">30,&#160;2022</div>
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              <td style="width: 3.09%; vertical-align: bottom;">&#160;</td>
              <td style="width: 12.67%; vertical-align: bottom; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
                <div style="text-align: right; color: #000000; font-weight: bold;">September</div>
                <div style="text-align: right; color: #000000; font-weight: bold;">30,&#160;2023</div>
              </td>
              <td style="width: 2.39%; vertical-align: middle; border-top: #000000 2px solid;">&#160;</td>
              <td style="width: 12.67%; vertical-align: bottom; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
                <div style="text-align: right; color: #000000; font-weight: bold;">September</div>
                <div style="text-align: right; color: #000000; font-weight: bold;">30,&#160;2022</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: middle;">&#160;</td>
              <td style="width: 39.51%; vertical-align: middle; background-color: rgb(204, 238, 255);">
                <div style="color: #000000;">Depreciation&#160;charge&#160;of&#160;office&#160;buildings&#160;</div>
              </td>
              <td style="width: 12.66%; vertical-align: middle; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">371</div>
              </td>
              <td style="width: 2.34%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 12.67%; vertical-align: middle; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">356</div>
              </td>
              <td style="width: 3.09%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 12.67%; vertical-align: middle; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">1,117</div>
              </td>
              <td style="width: 2.39%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 12.67%; vertical-align: middle; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">976</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: middle;">&#160;</td>
              <td style="width: 39.51%; vertical-align: middle;">
                <div style="color: #000000;">Interest&#160;expense&#160;(included&#160;in&#160;financial</div>
                <div style="color: #000000;">expense)&#160;</div>
              </td>
              <td style="width: 12.66%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; color: #000000;">139</div>
              </td>
              <td style="width: 2.34%; vertical-align: middle;">&#160;</td>
              <td style="width: 12.67%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; color: #000000;">166</div>
              </td>
              <td style="width: 3.09%; vertical-align: middle;">&#160;</td>
              <td style="width: 12.67%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; color: #000000;">441</div>
              </td>
              <td style="width: 2.39%; vertical-align: middle;">&#160;</td>
              <td style="width: 12.67%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; color: #000000;">517</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 39.51%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="color: #000000; font-weight: bold;">Total</div>
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              <td style="width: 12.66%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000; font-weight: bold;">510</div>
              </td>
              <td style="width: 2.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 12.67%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000; font-weight: bold;">522</div>
              </td>
              <td style="width: 3.09%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 12.67%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000; font-weight: bold;">1,558</div>
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              <td style="width: 2.39%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 12.67%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000; font-weight: bold;">1,493</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <div><br>
        </div>
        <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-weight: normal; font-style: normal;">15</font></div>
          <div class="BRPFPageBreak" style="page-break-after: always;">
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          <div style="width: 100%;" class="BRPFPageHeader"></div>
        </div>
        <div>
          <div style="color: rgb(0, 0, 0); font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">VTEX&#160;</div>
          <div style="color: rgb(0, 0, 0); font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">
            <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Notes to the condensed consolidated interim financial statements</div>
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          <div style="color: rgb(0, 0, 0); font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">(Unaudited)</div>
          <div style="color: rgb(0, 0, 0); font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">In thousands of U.S. dollars, unless otherwise indicated</div>
          <div style="color: rgb(0, 0, 0); font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">
            <hr noshade="noshade" align="left" style="height: 1pt; width: 100%; color: #000000; background-color: #000000; margin-left: 0px; margin-right: auto; border: none;"> </div>
          <div style="color: rgb(0, 0, 0); font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;"> <br>
          </div>
          <table cellspacing="0" cellpadding="0" border="0" id="e8a5eb1aa1864f22a9792173da6152f2" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;">

              <tr>
                <td style="width: 2%; font-size: 12pt; text-align: left; vertical-align: top;"><font style="font-weight: bold;">8</font></td>
                <td style="width: 98%; font-weight: bold; font-size: 12pt; text-align: left; vertical-align: bottom;">
                  <div><font style="font-weight: bold;">Property and equipment, net</font></div>
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                    <font style="font-size: 10pt; font-weight: normal;">D<font style="font-weight: normal;">etails </font>of the Group&#8217;s property and equipment balance are presented below:</font><br>
                    <font style="font-weight: bold;"></font></div>
                </td>
              </tr>

          </table>
        </div>
        <div style="color: #000000;"><br>
        </div>
        <table cellspacing="0" cellpadding="0" id="z884978226bdc4c2997180bc67403df32" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

            <tr>
              <td colspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 51.68%; vertical-align: bottom;">&#160;</td>
              <td style="width: 2.38%; vertical-align: bottom;">&#160;</td>
              <td style="width: 20.78%; vertical-align: bottom; border-bottom: #000000 2px solid;">
                <div style="text-align: right; color: #000000; font-weight: bold;">September&#160;30,&#160;2023</div>
              </td>
              <td style="width: 2.38%; vertical-align: bottom;">&#160;</td>
              <td style="width: 20.77%; vertical-align: bottom; border-bottom: #000000 2px solid;">
                <div style="text-align: right; color: #000000; font-weight: bold;">December&#160;31,&#160;2022</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: middle;">&#160;</td>
              <td style="width: 51.68%; vertical-align: middle; background-color: rgb(204, 238, 255);">
                <div style="color: #000000;">Leasehold&#160;improvements</div>
              </td>
              <td style="width: 2.38%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 20.78%; vertical-align: middle; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">2,506</div>
              </td>
              <td style="width: 2.38%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 20.77%; vertical-align: middle; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">2,811</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: middle;">&#160;</td>
              <td style="width: 51.68%; vertical-align: middle;">
                <div style="color: #000000;">Machinery&#160;and&#160;equipment</div>
              </td>
              <td style="width: 2.38%; vertical-align: middle;">&#160;</td>
              <td style="width: 20.78%; vertical-align: middle;">
                <div style="text-align: right; color: #000000;">105</div>
              </td>
              <td style="width: 2.38%; vertical-align: middle;">&#160;</td>
              <td style="width: 20.77%; vertical-align: middle;">
                <div style="text-align: right; color: #000000;">307</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: middle;">&#160;</td>
              <td style="width: 51.68%; vertical-align: middle; background-color: rgb(204, 238, 255);">
                <div style="color: #000000;">Furniture&#160;and&#160;fixture</div>
              </td>
              <td style="width: 2.38%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 20.78%; vertical-align: middle; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">753</div>
              </td>
              <td style="width: 2.38%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 20.77%; vertical-align: middle; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">836</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: middle;">&#160;</td>
              <td style="width: 51.68%; vertical-align: middle;">
                <div style="color: #000000;">Computer&#160;and&#160;peripherals</div>
              </td>
              <td style="width: 2.38%; vertical-align: middle;">&#160;</td>
              <td style="width: 20.78%; vertical-align: middle;">
                <div style="text-align: right; color: #000000;">4,418</div>
              </td>
              <td style="width: 2.38%; vertical-align: middle;">&#160;</td>
              <td style="width: 20.77%; vertical-align: middle;">
                <div style="text-align: right; color: #000000;">4,346</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: middle;">&#160;</td>
              <td style="width: 51.68%; vertical-align: middle; background-color: rgb(204, 238, 255);">
                <div style="color: #000000;">Accumulated&#160;depreciation</div>
              </td>
              <td style="width: 2.38%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 20.78%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">(4,655)</div>
              </td>
              <td style="width: 2.38%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 20.77%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">(4,391)</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: middle;">&#160;</td>
              <td style="width: 51.68%; vertical-align: middle;">
                <div style="color: #000000; font-weight: bold;">Property&#160;and&#160;equipment,&#160;net</div>
              </td>
              <td style="width: 2.38%; vertical-align: middle;">&#160;</td>
              <td style="width: 20.78%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; color: #000000; font-weight: bold;">3,127</div>
              </td>
              <td style="width: 2.38%; vertical-align: middle;">&#160;</td>
              <td style="width: 20.77%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; color: #000000; font-weight: bold;">3,909</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <div><br>
        </div>
        <table cellspacing="0" cellpadding="0" border="0" id="d68647a0d42c429eabf881d62af2cd20" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;">

            <tr>
              <td style="width: 2%; font-size: 12pt; text-align: left; vertical-align: top;"><font style="font-weight: bold;">9</font></td>
              <td style="width: 98%; font-weight: bold; font-size: 12pt; text-align: left; vertical-align: bottom;">
                <div><font style="font-weight: bold;">Intangible assets, net</font></div>
                <div><font style="font-weight: bold;"> <br>
                  </font></div>
                <div><font style="font-weight: normal; font-size: 10pt;">Details of the Group&#8217;s intangible assets balance are presented below:</font><font style="font-size: 14pt; font-weight: bold;"> </font></div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <table cellspacing="0" cellpadding="0" id="z5426a27608134aa7ba93fe9ee1c5667d" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

            <tr>
              <td colspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 51.68%; vertical-align: bottom;">&#160;</td>
              <td style="width: 2.38%; vertical-align: bottom;">&#160;</td>
              <td style="width: 20.78%; vertical-align: bottom; border-bottom: #000000 2px solid;">
                <div style="text-align: right; color: #000000; font-weight: bold;">September&#160;30,&#160;2023</div>
              </td>
              <td style="width: 2.38%; vertical-align: bottom;">&#160;</td>
              <td style="width: 20.77%; vertical-align: bottom; border-bottom: #000000 2px solid;">
                <div style="text-align: right; color: #000000; font-weight: bold;">December&#160;31,&#160;2022</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: middle;">&#160;</td>
              <td style="width: 51.68%; vertical-align: middle; background-color: rgb(204, 238, 255);">
                <div style="color: #000000;">Software</div>
              </td>
              <td style="width: 2.38%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 20.78%; vertical-align: middle; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">4,502</div>
              </td>
              <td style="width: 2.38%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 20.77%; vertical-align: middle; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">4,291</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: middle;">&#160;</td>
              <td style="width: 51.68%; vertical-align: middle;">
                <div style="color: #000000;">Trademark</div>
              </td>
              <td style="width: 2.38%; vertical-align: middle;">&#160;</td>
              <td style="width: 20.78%; vertical-align: middle;">
                <div style="text-align: right; color: #000000;">230</div>
              </td>
              <td style="width: 2.38%; vertical-align: middle;">&#160;</td>
              <td style="width: 20.77%; vertical-align: middle;">
                <div style="text-align: right; color: #000000;">218</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: middle;">&#160;</td>
              <td style="width: 51.68%; vertical-align: middle; background-color: rgb(204, 238, 255);">
                <div style="color: #000000;">Intellectual&#160;property</div>
              </td>
              <td style="width: 2.38%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 20.78%; vertical-align: middle; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">2,867</div>
              </td>
              <td style="width: 2.38%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 20.77%; vertical-align: middle; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">2,675</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: middle;">&#160;</td>
              <td style="width: 51.68%; vertical-align: middle;">
                <div style="color: #000000;">Customer&#160;contracts</div>
              </td>
              <td style="width: 2.38%; vertical-align: middle;">&#160;</td>
              <td style="width: 20.78%; vertical-align: middle;">
                <div style="text-align: right; color: #000000;">9,451</div>
              </td>
              <td style="width: 2.38%; vertical-align: middle;">&#160;</td>
              <td style="width: 20.77%; vertical-align: middle;">
                <div style="text-align: right; color: #000000;">9,394</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: middle;">&#160;</td>
              <td style="width: 51.68%; vertical-align: middle; background-color: rgb(204, 238, 255);">
                <div style="color: #000000;">Goodwill</div>
              </td>
              <td style="width: 2.38%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 20.78%; vertical-align: middle; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">21,476</div>
              </td>
              <td style="width: 2.38%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 20.77%; vertical-align: middle; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">20,965</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: middle;">&#160;</td>
              <td style="width: 51.68%; vertical-align: middle;">
                <div style="color: #000000;">Others</div>
              </td>
              <td style="width: 2.38%; vertical-align: middle;">&#160;</td>
              <td style="width: 20.78%; vertical-align: middle;">
                <div style="text-align: right; color: #000000;">547</div>
              </td>
              <td style="width: 2.38%; vertical-align: middle;">&#160;</td>
              <td style="width: 20.77%; vertical-align: middle;">
                <div style="text-align: right; color: #000000;">519</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: middle;">&#160;</td>
              <td style="width: 51.68%; vertical-align: middle; background-color: rgb(204, 238, 255);">
                <div style="color: #000000;">Accumulated&#160;amortization</div>
              </td>
              <td style="width: 2.38%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 20.78%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">(8,900)</div>
              </td>
              <td style="width: 2.38%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 20.77%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">(6,852)</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: middle;">&#160;</td>
              <td style="width: 51.68%; vertical-align: middle;">
                <div style="color: #000000; font-weight: bold;">Intangible&#160;assets,&#160;net</div>
              </td>
              <td style="width: 2.38%; vertical-align: middle;">&#160;</td>
              <td style="width: 20.78%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; color: #000000; font-weight: bold;">30,173</div>
              </td>
              <td style="width: 2.38%; vertical-align: middle;">&#160;</td>
              <td style="width: 20.77%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; color: #000000; font-weight: bold;">31,210</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <div><br>
        </div>
        <table cellspacing="0" cellpadding="0" border="0" id="e4cca516875e48c99b4f693e01039b06" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;">

            <tr>
              <td style="width: 2%; font-size: 12pt; text-align: left; vertical-align: top; font-weight: bold;">10</td>
              <td style="width: 98%; font-weight: bold; font-size: 12pt; text-align: left; vertical-align: bottom;">
                <div>Accounts payable and accrued expenses</div>
                <div> <br>
                </div>
                <div><font style="font-weight: normal; font-size: 10pt;">The breakdown of accounts payable and accrued expenses is as follows:</font> </div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <div> </div>
        <table cellspacing="0" cellpadding="0" id="ze5e6b4ea1dfb4180a9591c877eeba05d" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

            <tr>
              <td colspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 51.72%; vertical-align: bottom;">&#160;</td>
              <td style="width: 2.37%; vertical-align: bottom;">&#160;</td>
              <td style="width: 20.77%; vertical-align: bottom; border-bottom: #000000 2px solid;">
                <div style="text-align: right; color: #000000; font-weight: bold;">September&#160;30,&#160;2023</div>
              </td>
              <td style="width: 2.37%; vertical-align: bottom;">&#160;</td>
              <td style="width: 20.76%; vertical-align: bottom; border-bottom: #000000 2px solid;">
                <div style="text-align: right; color: #000000; font-weight: bold;">December&#160;31,&#160;2022</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 51.72%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="color: #000000;">Trade&#160;payables</div>
              </td>
              <td style="width: 2.37%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 20.77%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">13,923</div>
              </td>
              <td style="width: 2.37%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 20.76%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">14,064</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 51.72%; vertical-align: bottom;">
                <div style="color: #000000;">Social&#160;charges</div>
              </td>
              <td style="width: 2.37%; vertical-align: bottom;">&#160;</td>
              <td style="width: 20.77%; vertical-align: bottom;">
                <div style="text-align: right; color: #000000;">6,888</div>
              </td>
              <td style="width: 2.37%; vertical-align: bottom;">&#160;</td>
              <td style="width: 20.76%; vertical-align: bottom;">
                <div style="text-align: right; color: #000000;">5,537</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 51.72%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="color: #000000;">Profit-sharing</div>
              </td>
              <td style="width: 2.37%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 20.77%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">9,631</div>
              </td>
              <td style="width: 2.37%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 20.76%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">9,484</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 51.72%; vertical-align: bottom;">
                <div style="color: #000000;">Provision&#160;for&#160;vacation&#160;and&#160;benefits</div>
              </td>
              <td style="width: 2.37%; vertical-align: bottom;">&#160;</td>
              <td style="width: 20.77%; vertical-align: bottom;">
                <div style="text-align: right; color: #000000;">7,173</div>
              </td>
              <td style="width: 2.37%; vertical-align: bottom;">&#160;</td>
              <td style="width: 20.76%; vertical-align: bottom;">
                <div style="text-align: right; color: #000000;">5,506</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 51.72%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="color: #000000;">Others</div>
              </td>
              <td style="width: 2.37%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 20.77%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">26</div>
              </td>
              <td style="width: 2.37%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 20.76%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">56</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 51.72%; vertical-align: bottom;">
                <div style="color: #000000; font-weight: bold;">Total</div>
              </td>
              <td style="width: 2.37%; vertical-align: bottom;">&#160;</td>
              <td style="width: 20.77%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; color: #000000; font-weight: bold;">37,641</div>
              </td>
              <td style="width: 2.37%; vertical-align: bottom;">&#160;</td>
              <td style="width: 20.76%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; color: #000000; font-weight: bold;">34,647</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: middle;">&#160;</td>
              <td style="width: 51.72%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 2.37%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 20.77%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 2.37%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 20.76%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: middle;">&#160;</td>
              <td style="width: 51.72%; vertical-align: middle;">
                <div style="color: #000000;">Current</div>
              </td>
              <td style="width: 2.37%; vertical-align: middle;">&#160;</td>
              <td style="width: 20.77%; vertical-align: middle;">
                <div style="text-align: right; color: #000000;">36,549</div>
              </td>
              <td style="width: 2.37%; vertical-align: middle;">&#160;</td>
              <td style="width: 20.76%; vertical-align: middle;">
                <div style="text-align: right; color: #000000;">34,136</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: middle;">&#160;</td>
              <td style="width: 51.72%; vertical-align: middle; background-color: rgb(204, 238, 255);">
                <div style="color: #000000;">Non-current</div>
              </td>
              <td style="width: 2.37%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 20.77%; vertical-align: middle; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">1,092</div>
              </td>
              <td style="width: 2.37%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 20.76%; vertical-align: middle; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">511</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <div><br>
        </div>
        <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-weight: normal; font-style: normal;">16</font></div>
          <div class="BRPFPageBreak" style="page-break-after: always;">
            <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
          <div style="width: 100%;" class="BRPFPageHeader"></div>
        </div>
        <div>
          <div>
            <div style="color: rgb(0, 0, 0); font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">VTEX&#160;</div>
            <div style="color: rgb(0, 0, 0); font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">
              <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Notes to the condensed consolidated interim financial statements</div>
            </div>
            <div style="color: rgb(0, 0, 0); font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">(Unaudited)</div>
            <div style="color: rgb(0, 0, 0); font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">In thousands of U.S. dollars, unless otherwise indicated</div>
            <div style="color: rgb(0, 0, 0); font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">
              <hr noshade="noshade" align="left" style="height: 1pt; width: 100%; color: #000000; background-color: #000000; margin-left: 0px; margin-right: auto; border: none;"> </div>
            <div style="color: rgb(0, 0, 0); font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;"> <br>
            </div>
            <table cellspacing="0" cellpadding="0" border="0" id="3b184891341e46d4a81aa44bc5604aae" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;">

                <tr>
                  <td style="width: 2%; font-size: 12pt; text-align: left; vertical-align: top;"><font style="font-weight: bold;">11</font><br>
                  </td>
                  <td style="width: 98%; font-weight: bold; font-size: 12pt; text-align: left; vertical-align: bottom;">
                    <div>Loans and financing</div>
                    <div> <br>
                    </div>
                    <div>
                      <div style="color: rgb(0, 0, 0); font-weight: bold; font-size: 10pt;">11.1&#160; Breakdown of loans and financing</div>
                      <div style="color: rgb(0, 0, 0); font-weight: bold; font-size: 10pt;"> <br>
                      </div>
                      <div style="color: rgb(0, 0, 0); font-weight: bold; font-size: 10pt;"><font style="font-weight: normal;">As of September 30, 2023, the Group no longer has loans to be paid as both Ita&#250; and BNDES contracts were fully paid during the
                          first semester of 2023. More details on each loan are described in the table and footnotes below:</font> </div>
                    </div>
                  </td>
                </tr>

            </table>
            <div style="color: rgb(0, 0, 0); font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;"> <br>
            </div>
          </div>
        </div>
        <div><br>
        </div>
        <table cellspacing="0" cellpadding="0" id="z4511a9310daa4581b9ed778948a9b283" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

            <tr>
              <td colspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 11.83%; vertical-align: bottom;">&#160;</td>
              <td style="width: 2.24%; vertical-align: bottom;">&#160;</td>
              <td style="width: 19.56%; vertical-align: bottom; border-bottom: #000000 2px solid;">
                <div style="text-align: center; color: #000000; font-weight: bold;">Interest&#160;rate</div>
              </td>
              <td style="width: 2.24%; vertical-align: bottom;">&#160;</td>
              <td style="width: 11.09%; vertical-align: bottom; border-bottom: #000000 2px solid;">
                <div style="text-align: center; color: #000000; font-weight: bold;">Country</div>
              </td>
              <td style="width: 2.2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 11.1%; vertical-align: bottom; border-bottom: #000000 2px solid;">
                <div style="text-align: center; color: #000000; font-weight: bold;">Maturity</div>
              </td>
              <td style="width: 2.24%; vertical-align: bottom;">&#160;</td>
              <td style="width: 16.66%; vertical-align: bottom; border-bottom: #000000 2px solid;">
                <div style="text-align: right; color: #000000; font-weight: bold;">September&#160;30,</div>
                <div style="text-align: right; color: #000000; font-weight: bold;">2023</div>
              </td>
              <td style="width: 2.2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 16.64%; vertical-align: bottom; border-bottom: #000000 2px solid;">
                <div style="text-align: right; color: #000000; font-weight: bold;">December&#160;31,</div>
                <div style="text-align: right; color: #000000; font-weight: bold;">2022</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 11.83%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="color: #000000;">BNDES&#160;(i)</div>
              </td>
              <td style="width: 2.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 19.56%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="text-align: center; color: #000000;">6.5%&#160;p.a</div>
                <div style="text-align: center; color: #000000;">(Brazilian&#160;Reais)</div>
              </td>
              <td style="width: 2.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 11.09%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="text-align: center; color: #000000;">Brazil</div>
              </td>
              <td style="width: 2.2%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 11.1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="text-align: center; color: #000000;">Mar/23</div>
              </td>
              <td style="width: 2.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 16.66%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">-</div>
              </td>
              <td style="width: 2.2%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 16.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">189</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 11.83%; vertical-align: bottom;">
                <div style="color: #000000;">Ita&#250;&#160;(ii)</div>
              </td>
              <td style="width: 2.24%; vertical-align: bottom;">&#160;</td>
              <td style="width: 19.56%; vertical-align: bottom;">
                <div style="text-align: center; color: #000000;">100%&#160;CDI&#160;+&#160;2.5%&#160;p.a</div>
                <div style="text-align: center; color: #000000;">(Brazilian&#160;Reais)</div>
              </td>
              <td style="width: 2.24%; vertical-align: bottom;">&#160;</td>
              <td style="width: 11.09%; vertical-align: bottom;">
                <div style="text-align: center; color: #000000;">Brazil</div>
              </td>
              <td style="width: 2.2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 11.1%; vertical-align: bottom;">
                <div style="text-align: center; color: #000000;">May/23</div>
              </td>
              <td style="width: 2.24%; vertical-align: bottom;">&#160;</td>
              <td style="width: 16.66%; vertical-align: bottom;">
                <div style="text-align: right; color: #000000;">-</div>
              </td>
              <td style="width: 2.2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 16.64%; vertical-align: bottom;">
                <div style="text-align: right; color: #000000;">964</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 11.83%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="color: #000000; font-weight: bold;">Total</div>
              </td>
              <td style="width: 2.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 19.56%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 2.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 11.09%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 2.2%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 11.1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 2.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 16.66%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000; font-weight: bold;">-</div>
              </td>
              <td style="width: 2.2%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 16.64%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000; font-weight: bold;">1,153</div>
              </td>
            </tr>

        </table>
        <div><font style="font-weight: normal; font-size: 8pt;"><br>
          </font> </div>
        <table cellspacing="0" cellpadding="0" border="0" id="1f70c69a696e4636ab289b94734d37a1" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;">

            <tr>
              <td style="width: 2%; font-size: 8pt; text-align: left; vertical-align: top; font-weight: normal;">&#160;</td>
              <td style="width: 98%; font-weight: bold; font-size: 12pt; text-align: left; vertical-align: bottom;">
                <div style="margin-right: 0.3pt; font-size: 8pt;"><font style="color: rgb(0, 0, 0); font-weight: normal;">(i) In March 2017, the Group raised R$15,577 corresponding to US$5,014 from Brazilian National Bank for Economic and Social
                    Development (BNDES) to finance the development of new ecommerce technologies.&#160;</font><font style="font-weight: normal;">The last installment matured in March 2023.</font></div>
                <div style="margin-right: 0.3pt; font-size: 8pt;"><font style="color: rgb(0, 0, 0); font-weight: normal;">(ii) In June 2019, the Group raised &#8364;6,909, corresponding to US$7,782 for working capital purposes. On the same date, a swap was
                    contracted to hedge the amount against foreign exchange rate, designating the financial instrument as a fair value hedge.</font><font style="font-weight: normal;"> The last installment matured in May 2023.</font></div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <br>
        <table cellspacing="0" cellpadding="0" border="0" id="d6b6340bf0d749be8aab42a9a868f073" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;">

            <tr>
              <td style="width: 2%; text-align: left; vertical-align: top;">&#160;</td>
              <td style="width: 98%; font-weight: bold; text-align: left; vertical-align: bottom;">11.2&#160; Changes in loans and financing</td>
            </tr>

        </table>
        <div style="color: #000000; font-weight: bold;"><br>
        </div>
        <table cellspacing="0" cellpadding="0" id="z51c2077523644aef9a31d850ef4f30dd" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

            <tr>
              <td colspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 68.05%; vertical-align: bottom;">&#160;</td>
              <td style="width: 3.11%; vertical-align: bottom;">&#160;</td>
              <td style="width: 26.84%; vertical-align: bottom; border-bottom: #000000 2px solid;">
                <div style="text-align: right; color: #000000; font-weight: bold;">2023</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 68.05%; vertical-align: bottom;">
                <div style="color: #000000; font-weight: bold;">Opening&#160;balance&#160;on&#160;January&#160;1</div>
              </td>
              <td style="width: 3.11%; vertical-align: bottom;">&#160;</td>
              <td style="width: 26.84%; vertical-align: bottom;">
                <div style="text-align: right; color: #000000; font-weight: bold;">1,153</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 68.05%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="color: #000000;">Payment&#160;of&#160;loans</div>
              </td>
              <td style="width: 3.11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 26.84%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">(1,238)</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 68.05%; vertical-align: bottom;">
                <div style="color: #000000;">Interest&#160;charged</div>
              </td>
              <td style="width: 3.11%; vertical-align: bottom;">&#160;</td>
              <td style="width: 26.84%; vertical-align: bottom;">
                <div style="text-align: right; color: #000000;">4</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 68.05%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="color: #000000;">Interest&#160;paid</div>
              </td>
              <td style="width: 3.11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 26.84%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">(5)</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 68.05%; vertical-align: bottom;">
                <div style="color: #000000;">Basis&#160;adjustment&#160;on&#160;the&#160;fair&#160;value&#160;hedge&#160;(i)</div>
              </td>
              <td style="width: 3.11%; vertical-align: bottom;">&#160;</td>
              <td style="width: 26.84%; vertical-align: bottom;">
                <div style="text-align: right; color: #000000;">42</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 68.05%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="color: #000000;">Exchange&#160;differences</div>
              </td>
              <td style="width: 3.11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 26.84%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">44</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 68.05%; vertical-align: bottom;">
                <div style="color: #000000; font-weight: bold;">Closing&#160;balance&#160;on&#160;September&#160;30</div>
              </td>
              <td style="width: 3.11%; vertical-align: bottom;">&#160;</td>
              <td style="width: 26.84%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; color: #000000; font-weight: bold;">-</div>
              </td>
            </tr>

        </table>
        <div>
          <div style="font-size: 8pt;"><font style="color: #000000;"> <br>
            </font></div>
          <table cellspacing="0" cellpadding="0" border="0" id="52a8f0d6c0354849964513a1adf56224" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;">

              <tr>
                <td style="width: 2%; font-size: 12pt; text-align: left; vertical-align: top;">&#160;</td>
                <td style="width: 98%; font-weight: bold; font-size: 12pt; text-align: left; vertical-align: bottom;">
                  <div style="font-size: 8pt;"><font style="color: rgb(0, 0, 0); font-weight: normal;">(i) </font><font style="font-weight: normal;">Losses on the financial instrument <font style="color: #000000;">designated as a fair value hedge
                        referring to the loan in Euros with Ita&#250; described above</font> have been recognized as a financial expense.<font style="color: #000000;"> Refer to note 19.1(ii) for additional detail.</font></font></div>
                </td>
              </tr>

          </table>
          <div style="font-size: 8pt;"><br>
            <font style="color: #000000;"></font></div>
          <div style="font-size: 8pt;"><font style="color: #000000;"> <br>
            </font></div>
          <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
            <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-weight: normal; font-style: normal;">17</font></div>
            <div class="BRPFPageBreak" style="page-break-after: always;">
              <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
            <div style="width: 100%;" class="BRPFPageHeader"></div>
          </div>
          <!--PROfilePageNumberReset%Num%18%%%--> </div>
        <div>
          <div style="color: rgb(0, 0, 0); font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">VTEX&#160;</div>
          <div style="color: rgb(0, 0, 0); font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">
            <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Notes to the condensed consolidated interim financial statements</div>
          </div>
          <div style="color: rgb(0, 0, 0); font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">(Unaudited)</div>
          <div style="color: rgb(0, 0, 0); font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">In thousands of U.S. dollars, unless otherwise indicated</div>
          <div style="color: rgb(0, 0, 0); font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">
            <hr noshade="noshade" align="left" style="height: 1pt; width: 100%; color: #000000; background-color: #000000; margin-left: 0px; margin-right: auto; border: none;"></div>
          <div style="color: rgb(0, 0, 0); font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;"> <br>
          </div>
        </div>
        <table cellspacing="0" cellpadding="0" border="0" id="7b2d353b6c844e23b079804d1b6bd44d" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;">

            <tr>
              <td style="width: 2%; font-size: 12pt; text-align: left; vertical-align: top;"><font style="font-weight: bold;">12</font></td>
              <td style="width: 98%; font-weight: bold; font-size: 12pt; text-align: left; vertical-align: bottom;">
                <div><font style="font-weight: bold;">Taxes payable</font></div>
                <div><font style="font-size: 14pt; font-weight: bold;"> </font><br>
                  <font style="font-weight: normal; font-size: 10pt;">The breakdown of taxes payable is as follows:</font></div>
              </td>
            </tr>

        </table>
        <div>&#160;</div>
        <table cellspacing="0" cellpadding="0" border="0" id="zb729b7cffee648468e2aedcbebce3fac" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

            <tr>
              <td colspan="1" style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 56.83%; vertical-align: bottom;">&#160;</td>
              <td style="width: 0.78%; vertical-align: bottom;">&#160;</td>
              <td style="width: 19.53%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; color: #000000; font-weight: bold;">September&#160;30,&#160;2023</div>
              </td>
              <td style="width: 0.78%; vertical-align: bottom;">&#160;</td>
              <td style="width: 18.98%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; color: #000000; font-weight: bold;">December&#160;31,&#160;2022</div>
              </td>
            </tr>
            <tr>
              <td colspan="1" style="width: 2%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 56.83%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="color: #000000;">Income&#160;tax&#160;payable&#160;</div>
              </td>
              <td style="width: 0.78%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 19.53%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">1,414</div>
              </td>
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              <td style="width: 56.83%; vertical-align: middle;">&#160;</td>
              <td style="width: 0.78%; vertical-align: middle;">&#160;</td>
              <td style="width: 19.53%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td style="width: 0.78%; vertical-align: middle;">&#160;</td>
              <td style="width: 18.98%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
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              <td colspan="1" style="width: 2%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
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              <td style="width: 19.53%; vertical-align: middle; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">4,124</div>
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              <td style="width: 0.78%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 18.98%; vertical-align: middle; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">4,128</div>
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        <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;" id="fd17edf587da41739f3ccf3296861fcf">

            <tr>
              <td style="width: 2%; font-size: 8pt; text-align: left; vertical-align: top;">&#160;</td>
              <td style="width: 98%; font-weight: normal; font-size: 8pt; text-align: left; vertical-align: bottom;">(i) The balance refers to sales taxes related to the WorkArea acquisition.</td>
            </tr>

        </table>
        <div style="color: #000000; font-size: 8pt;"><br>
        </div>
        <div><br>
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        <table cellspacing="0" cellpadding="0" border="0" id="7e68e4565bd94a5888b188ae0df6cdbf" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;">

            <tr>
              <td style="width: 2%; font-size: 12pt; text-align: left; vertical-align: top;"><font style="font-weight: bold;">13</font></td>
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                  <font style="font-weight: normal; font-size: 10pt;"> </font>
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                  <font style="font-weight: bold;"> </font></div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <table cellspacing="0" cellpadding="0" id="z6e0508dfd69b46fd9b8f9609a1877aa7" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

            <tr>
              <td style="width: 2%; vertical-align: bottom;" colspan="1">&#160;</td>
              <td style="width: 51.64%; vertical-align: bottom;">&#160;</td>
              <td style="width: 2.39%; vertical-align: bottom;">&#160;</td>
              <td style="width: 20.79%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; color: #000000; font-weight: bold;">September&#160;30,&#160;2023</div>
              </td>
              <td style="width: 2.39%; vertical-align: bottom;">&#160;</td>
              <td style="width: 20.78%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
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              </td>
            </tr>
            <tr>
              <td style="width: 2%; vertical-align: bottom;" colspan="1">&#160;</td>
              <td style="width: 51.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="color: #000000;">Civil</div>
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              <td style="width: 2.39%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 20.79%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">27</div>
              </td>
              <td style="width: 2.39%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 20.78%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">6</div>
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            </tr>
            <tr>
              <td style="width: 2%; vertical-align: bottom;" colspan="1">&#160;</td>
              <td style="width: 51.64%; vertical-align: bottom;">
                <div style="color: #000000;">Labor</div>
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              <td style="width: 2.39%; vertical-align: bottom;">&#160;</td>
              <td style="width: 20.79%; vertical-align: bottom;">
                <div style="text-align: right; color: #000000;">44</div>
              </td>
              <td style="width: 2.39%; vertical-align: bottom;">&#160;</td>
              <td style="width: 20.78%; vertical-align: bottom;">
                <div style="text-align: right; color: #000000;">95</div>
              </td>
            </tr>
            <tr>
              <td style="width: 2%; vertical-align: bottom;" colspan="1">&#160;</td>
              <td style="width: 51.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="color: #000000;">Tax</div>
              </td>
              <td style="width: 2.39%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 20.79%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">160</div>
              </td>
              <td style="width: 2.39%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 20.78%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">84</div>
              </td>
            </tr>
            <tr>
              <td style="width: 2%; vertical-align: bottom;" colspan="1">&#160;</td>
              <td style="width: 51.64%; vertical-align: bottom;">
                <div style="color: #000000; font-weight: bold;">Total</div>
              </td>
              <td style="width: 2.39%; vertical-align: bottom;">&#160;</td>
              <td style="width: 20.79%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; color: #000000; font-weight: bold;">231</div>
              </td>
              <td style="width: 2.39%; vertical-align: bottom;">&#160;</td>
              <td style="width: 20.78%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; color: #000000; font-weight: bold;">185</div>
              </td>
            </tr>

        </table>
        <div style="text-align: justify;"> <br>
        </div>
        <div style="text-align: justify;"> <br>
        </div>
        <table cellspacing="0" cellpadding="0" border="0" id="5bff7e1eac004896b5f3f0095c859f74" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;">

            <tr>
              <td style="width: 2%; font-size: 12pt; text-align: left; vertical-align: top;">&#160;</td>
              <td style="width: 98%; font-weight: normal; text-align: left; vertical-align: bottom;">The breakdown of existing contingencies classified as possible losses by the Group, based on the evaluation of its legal advisors, for which no provision
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            </tr>

        </table>
        <div style="text-align: justify;"><br>
        </div>
        <table cellspacing="0" cellpadding="0" id="zb14010a347a04daeadd1c1ba5d4faf4d" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

            <tr>
              <td style="width: 2%; vertical-align: bottom;" colspan="1">&#160;</td>
              <td style="width: 51.64%; vertical-align: bottom;">&#160;</td>
              <td style="width: 2.39%; vertical-align: bottom;">&#160;</td>
              <td style="width: 20.79%; vertical-align: bottom; border-bottom: #000000 2px solid;">
                <div style="text-align: right; color: #000000; font-weight: bold;">September&#160;30,&#160;2023</div>
              </td>
              <td style="width: 2.39%; vertical-align: bottom;">&#160;</td>
              <td style="width: 20.78%; vertical-align: bottom; border-bottom: #000000 2px solid;">
                <div style="text-align: right; color: #000000; font-weight: bold;">December&#160;31,&#160;2022</div>
              </td>
            </tr>
            <tr>
              <td style="width: 2%; vertical-align: bottom;" colspan="1">&#160;</td>
              <td style="width: 51.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="color: #000000;">Civil&#160;</div>
              </td>
              <td style="width: 2.39%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 20.79%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">107</div>
              </td>
              <td style="width: 2.39%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 20.78%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">118</div>
              </td>
            </tr>
            <tr>
              <td style="width: 2%; vertical-align: bottom;" colspan="1">&#160;</td>
              <td style="width: 51.64%; vertical-align: bottom;">
                <div style="color: #000000;">Labor&#160;</div>
              </td>
              <td style="width: 2.39%; vertical-align: bottom;">&#160;</td>
              <td style="width: 20.79%; vertical-align: bottom;">
                <div style="text-align: right; color: #000000;">155</div>
              </td>
              <td style="width: 2.39%; vertical-align: bottom;">&#160;</td>
              <td style="width: 20.78%; vertical-align: bottom;">
                <div style="text-align: right; color: #000000;">-</div>
              </td>
            </tr>
            <tr>
              <td style="width: 2%; vertical-align: bottom;" colspan="1">&#160;</td>
              <td style="width: 51.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="color: #000000;">Tax&#160;</div>
              </td>
              <td style="width: 2.39%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 20.79%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">1,003</div>
              </td>
              <td style="width: 2.39%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 20.78%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">878</div>
              </td>
            </tr>
            <tr>
              <td style="width: 2%; vertical-align: bottom;" colspan="1">&#160;</td>
              <td style="width: 51.64%; vertical-align: bottom;">
                <div style="color: #000000; font-weight: bold;">Total</div>
              </td>
              <td style="width: 2.39%; vertical-align: bottom;">&#160;</td>
              <td style="width: 20.79%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; color: #000000; font-weight: bold;">1,265</div>
              </td>
              <td style="width: 2.39%; vertical-align: bottom;">&#160;</td>
              <td style="width: 20.78%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; color: #000000; font-weight: bold;">996</div>
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            </tr>

        </table>
        <div><br>
        </div>
        <div style="text-align: justify; color: #000000;"> <br>
        </div>
        <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;" id="55b0567fa077409a9fda025b5c9ef27b">

            <tr>
              <td style="width: 2%; font-size: 12pt; text-align: left; vertical-align: top;">&#160;</td>
              <td style="width: 98%; font-weight: normal; text-align: left; vertical-align: bottom;">On October 9, 2020, Mirakl, Incorporated, filed a complaint for unspecified damages and preliminary and permanent injunctive relief in the United States
                District Court for the District of Massachusetts against our subsidiary VTEX Commerce Cloud Solutions LLC, or VTEX USA, and certain of its employees that were formerly employed by the plaintiff.</td>
            </tr>

        </table>
        <div> <br>
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        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
          <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-weight: normal; font-style: normal;" class="BRPFPageNumber">18</font></div>
          <div style="page-break-after: always;" class="BRPFPageBreak">
            <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
          <div style="width: 100%;" class="BRPFPageHeader"></div>
        </div>
        <div>
          <div style="color: rgb(0, 0, 0); font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">VTEX&#160;</div>
          <div style="color: rgb(0, 0, 0); font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">
            <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Notes to the condensed consolidated interim financial statements</div>
          </div>
          <div style="color: rgb(0, 0, 0); font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">(Unaudited)</div>
          <div style="color: rgb(0, 0, 0); font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">In thousands of U.S. dollars, unless otherwise indicated</div>
          <div style="color: rgb(0, 0, 0); font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">
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          <div style="color: rgb(0, 0, 0); font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;"> <br>
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          <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;" id="139f9065ba234bc1ad37929030f6dccf">

              <tr>
                <td style="width: 2%; font-size: 12pt; text-align: left; vertical-align: top;">&#160;</td>
                <td style="width: 98%; font-weight: normal; text-align: left; vertical-align: bottom;">On April 14, 2021, the court denied the motion to dismiss. On October 4, 2021, the court granted VTEX's motion to appoint an independent expert to manage
                  forensic discovery. On December 31, 2021, the court approved a forensic protocol to be employed by the independent expert. As of September 30, 2023, the parties are conducting discovery. Although VTEX plans to defend itself against such
                  lawsuit, the Company is not able to predict the outcomes of such lawsuit at this current discovery stage. On September 30, 2023 and December 31, 2022, this contingency was classified as possible, however at the end of the reporting period
                  it was not possible to estimate the future cash outflows at this stage of the lawsuit, and, therefore, it was not included in the table above.</td>
              </tr>

          </table>
        </div>
        <div style="text-align: justify; color: #000000;"><br>
        </div>
        <div><br>
        </div>
        <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;" id="9d5ca88bd173464d9bf8358ce044d1b1">

            <tr>
              <td style="width: 2%; font-size: 12pt; text-align: left; vertical-align: top;"><font style="font-weight: bold;">14</font></td>
              <td style="width: 98%; font-weight: normal; text-align: left; vertical-align: bottom; font-size: 12pt;">
                <div><font style="font-weight: bold;">Shareholders&#8217; equity</font></div>
                <div><font style="font-weight: bold;"> <br>
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                <div><font style="font-size: 10pt; font-weight: bold;">14.1&#160; Issued capital</font></div>
                <div><font style="font-size: 10pt; font-weight: bold;"> <br>
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                <div><font style="font-size: 10pt;">The total share capital is as follows:</font><font style="font-size: 10pt; font-weight: bold;"> </font></div>
                <div><font style="font-size: 10pt; font-weight: bold;"></font><font style="font-weight: bold;"> </font></div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <table cellspacing="0" cellpadding="0" id="zc05b4b6c57164af695ad6b11ac752625" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

            <tr>
              <td style="width: 2%; vertical-align: bottom;" colspan="1">&#160;</td>
              <td style="width: 51.72%; vertical-align: bottom;">&#160;</td>
              <td style="width: 2.37%; vertical-align: bottom;">&#160;</td>
              <td style="width: 20.77%; vertical-align: bottom; border-bottom: #000000 2px solid;">
                <div style="text-align: right; color: #000000; font-weight: bold;">September&#160;30,&#160;2023</div>
              </td>
              <td style="width: 2.37%; vertical-align: bottom;">&#160;</td>
              <td style="width: 20.76%; vertical-align: bottom; border-bottom: #000000 2px solid;">
                <div style="text-align: right; color: #000000; font-weight: bold;">December&#160;31,&#160;2022</div>
              </td>
            </tr>
            <tr>
              <td style="width: 2%; vertical-align: bottom;" colspan="1">&#160;</td>
              <td style="width: 51.72%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="color: #000000;">Number&#160;of&#160;ordinary&#160;nominative&#160;shares</div>
              </td>
              <td style="width: 2.37%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 20.77%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">185,535,515</div>
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              <td style="width: 20.76%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
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              <td style="width: 20.77%; vertical-align: bottom;">
                <div style="text-align: right; color: #000000;">0.0001</div>
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              <td style="width: 2.37%; vertical-align: bottom;">&#160;</td>
              <td style="width: 20.76%; vertical-align: bottom;">
                <div style="text-align: right; color: #000000;">0.0001</div>
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            <tr>
              <td style="width: 2%; vertical-align: bottom;" colspan="1">&#160;</td>
              <td style="width: 51.72%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="color: #000000; font-weight: bold;">Total&#160;issued&#160;capital</div>
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              <td style="width: 2.37%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 20.77%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000; font-weight: bold;">19</div>
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              <td style="width: 2.37%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 20.76%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000; font-weight: bold;">19</div>
              </td>
            </tr>

        </table>
        <div><br>
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        <div><br>
        </div>
        <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;" id="c12260d603504ee0949a835794b9ae35">

            <tr>
              <td style="width: 2%; font-size: 12pt; text-align: left; vertical-align: top;"><font style="font-weight: bold;">15</font></td>
              <td style="width: 98%; font-weight: normal; text-align: left; vertical-align: bottom; font-size: 12pt;">
                <div><font style="font-weight: bold;">Revenue from services provided</font></div>
                <div><font style="font-weight: bold;"> <br>
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                  <div style="text-align: justify;"><font style="color: rgb(0, 0, 0); font-size: 10pt;">The Group revenue derives </font><font style="font-size: 10pt;">mainly<font style="color: #000000;"> from the transfer of services rendered and fees
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            <tr>
              <td style="width: 2%; vertical-align: middle;" colspan="1">&#160;</td>
              <td style="width: 40.29%; vertical-align: middle;">&#160;</td>
              <td style="vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);" colspan="3">
                <div style="text-align: center; color: #000000; font-weight: bold;">Three&#160;months&#160;ended&#160;</div>
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              <td style="width: 2.55%; vertical-align: middle;">&#160;</td>
              <td style="vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);" colspan="3">
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            <tr>
              <td style="width: 2%; vertical-align: bottom;" colspan="1">&#160;</td>
              <td style="width: 40.29%; vertical-align: bottom;">&#160;</td>
              <td style="width: 12.54%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; color: #000000; font-weight: bold;">September</div>
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              <td style="width: 2.55%; vertical-align: bottom;">&#160;</td>
              <td style="width: 12.54%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; color: #000000; font-weight: bold;">September</div>
                <div style="text-align: right; color: #000000; font-weight: bold;">30,&#160;2022</div>
              </td>
              <td style="width: 2.55%; vertical-align: bottom;">&#160;</td>
              <td style="width: 12.54%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; color: #000000; font-weight: bold;">September</div>
                <div style="text-align: right; color: #000000; font-weight: bold;">30,&#160;2023</div>
              </td>
              <td style="width: 2.55%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td style="width: 12.54%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; color: #000000; font-weight: bold;">September</div>
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            </tr>
            <tr>
              <td style="width: 2%; vertical-align: middle;" colspan="1">&#160;</td>
              <td style="width: 40.29%; vertical-align: middle; background-color: rgb(204, 238, 255);">
                <div style="color: #000000;">Subscriptions&#160;</div>
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              <td style="width: 12.54%; vertical-align: middle; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">51,718</div>
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              <td style="width: 2.55%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 12.54%; vertical-align: middle; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">39,720</div>
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              <td style="width: 2.55%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 12.54%; vertical-align: middle; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">144,571</div>
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              <td style="width: 2.55%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 12.54%; vertical-align: middle; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">115,420</div>
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            <tr>
              <td style="width: 2%; vertical-align: middle;" colspan="1">&#160;</td>
              <td style="width: 40.29%; vertical-align: middle;">
                <div style="color: #000000;">Taxes&#160;on&#160;subscriptions&#160;</div>
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              <td style="width: 12.54%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; color: #000000;">(4,174)</div>
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              <td style="width: 2.55%; vertical-align: middle;">&#160;</td>
              <td style="width: 12.54%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; color: #000000;">(3,207)</div>
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              <td style="width: 2.55%; vertical-align: middle;">&#160;</td>
              <td style="width: 12.54%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; color: #000000;">(12,493)</div>
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              <td style="width: 2.55%; vertical-align: middle;">&#160;</td>
              <td style="width: 12.54%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; color: #000000;">(9,677)</div>
              </td>
            </tr>
            <tr>
              <td style="width: 2%; vertical-align: bottom;" colspan="1">&#160;</td>
              <td style="width: 40.29%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="color: #000000; font-weight: bold;">Subscription&#160;revenue</div>
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              <td style="width: 12.54%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000; font-weight: bold;">47,544</div>
              </td>
              <td style="width: 2.55%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 12.54%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000; font-weight: bold;">36,513</div>
              </td>
              <td style="width: 2.55%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 12.54%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000; font-weight: bold;">132,078</div>
              </td>
              <td style="width: 2.55%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 12.54%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000; font-weight: bold;">105,743</div>
              </td>
            </tr>
            <tr>
              <td style="width: 2%; vertical-align: middle;" colspan="1">&#160;</td>
              <td style="width: 40.29%; vertical-align: middle;">&#160;</td>
              <td style="width: 12.54%; vertical-align: middle;">&#160;</td>
              <td style="width: 2.55%; vertical-align: middle;">&#160;</td>
              <td style="width: 12.54%; vertical-align: middle;">&#160;</td>
              <td style="width: 2.55%; vertical-align: middle;">&#160;</td>
              <td style="width: 12.54%; vertical-align: middle;">&#160;</td>
              <td style="width: 2.55%; vertical-align: middle;">&#160;</td>
              <td style="width: 12.54%; vertical-align: middle;">&#160;</td>
            </tr>
            <tr>
              <td style="width: 2%; vertical-align: middle;" colspan="1">&#160;</td>
              <td style="width: 40.29%; vertical-align: middle; background-color: rgb(204, 238, 255);">
                <div style="color: #000000;">Services&#160;provided&#160;</div>
              </td>
              <td style="width: 12.54%; vertical-align: middle; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">3,235</div>
              </td>
              <td style="width: 2.55%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 12.54%; vertical-align: middle; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">2,370</div>
              </td>
              <td style="width: 2.55%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 12.54%; vertical-align: middle; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">9,133</div>
              </td>
              <td style="width: 2.55%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 12.54%; vertical-align: middle; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">6,880</div>
              </td>
            </tr>
            <tr>
              <td style="width: 2%; vertical-align: middle;" colspan="1">&#160;</td>
              <td style="width: 40.29%; vertical-align: middle;">
                <div style="color: #000000;">Taxes&#160;on&#160;services&#160;</div>
              </td>
              <td style="width: 12.54%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; color: #000000;">(151)</div>
              </td>
              <td style="width: 2.55%; vertical-align: middle;">&#160;</td>
              <td style="width: 12.54%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; color: #000000;">(129)</div>
              </td>
              <td style="width: 2.55%; vertical-align: middle;">&#160;</td>
              <td style="width: 12.54%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; color: #000000;">(415)</div>
              </td>
              <td style="width: 2.55%; vertical-align: middle;">&#160;</td>
              <td style="width: 12.54%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; color: #000000;">(488)</div>
              </td>
            </tr>
            <tr>
              <td style="width: 2%; vertical-align: bottom;" colspan="1">&#160;</td>
              <td style="width: 40.29%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="color: #000000; font-weight: bold;">Services&#160;revenue</div>
              </td>
              <td style="width: 12.54%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000; font-weight: bold;">3,084</div>
              </td>
              <td style="width: 2.55%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 12.54%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000; font-weight: bold;">2,241</div>
              </td>
              <td style="width: 2.55%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 12.54%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000; font-weight: bold;">8,718</div>
              </td>
              <td style="width: 2.55%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 12.54%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000; font-weight: bold;">6,392</div>
              </td>
            </tr>
            <tr>
              <td style="width: 2%; vertical-align: middle;" colspan="1">&#160;</td>
              <td style="width: 40.29%; vertical-align: middle;">&#160;</td>
              <td style="width: 12.54%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td style="width: 2.55%; vertical-align: middle;">&#160;</td>
              <td style="width: 12.54%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td style="width: 2.55%; vertical-align: middle;">&#160;</td>
              <td style="width: 12.54%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td style="width: 2.55%; vertical-align: middle;">&#160;</td>
              <td style="width: 12.54%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            </tr>
            <tr>
              <td style="width: 2%; vertical-align: bottom;" colspan="1">&#160;</td>
              <td style="width: 40.29%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="color: #000000; font-weight: bold;">Total&#160;revenue</div>
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              <td style="width: 12.54%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000; font-weight: bold;">50,628</div>
              </td>
              <td style="width: 2.55%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 12.54%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000; font-weight: bold;">38,754</div>
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              <td style="width: 2.55%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 12.54%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000; font-weight: bold;">140,796</div>
              </td>
              <td style="width: 2.55%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 12.54%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000; font-weight: bold;">112,135</div>
              </td>
            </tr>

        </table>
        <div><font style="font-size: 14pt; font-weight: bold;"> <br>
          </font></div>
        <font style="font-size: 14pt; font-weight: bold;"> <br>
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        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
          <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-weight: normal; font-style: normal;" class="BRPFPageNumber">19</font></div>
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          <div style="width: 100%;" class="BRPFPageHeader"></div>
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        <!--PROfilePageNumberReset%Num%20%%%-->
        <div>
          <div style="color: rgb(0, 0, 0); font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">VTEX&#160;</div>
          <div style="color: rgb(0, 0, 0); font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">
            <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Notes to the condensed consolidated interim financial statements</div>
          </div>
          <div style="color: rgb(0, 0, 0); font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">(Unaudited)</div>
          <div style="color: rgb(0, 0, 0); font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">In thousands of U.S. dollars, unless otherwise indicated</div>
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        <div> <br>
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        <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;" id="b514d29800d64f548cd02ead95499295">

            <tr>
              <td style="width: 2%; font-size: 12pt; text-align: left; vertical-align: top;"><font style="font-weight: bold;">16</font></td>
              <td style="width: 98%; font-weight: normal; text-align: left; vertical-align: bottom; font-size: 12pt;">
                <div><font style="font-weight: bold;">Earnings (loss) per share</font></div>
                <div><font style="font-weight: bold;"> <br>
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                <div>
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                  <font style="font-size: 10pt;"> </font>
                  <div><font style="font-size: 10pt;"><br>
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                  <font style="font-size: 10pt;"> </font>
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                  <font style="font-size: 10pt;"> </font>
                  <div><font style="font-size: 10pt;"><br>
                    </font> </div>
                  <font style="font-size: 10pt;"> </font>
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                  <font style="font-weight: bold;"> </font></div>
              </td>
            </tr>

        </table>
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            <tr>
              <td style="width: 2%; vertical-align: middle;" colspan="1">&#160;</td>
              <td style="width: 39.93%; vertical-align: middle;">&#160;</td>
              <td style="vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);" colspan="3">
                <div style="text-align: center; color: #000000; font-weight: bold;">Three&#160;months&#160;ended&#160;</div>
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              <td style="width: 2.34%; vertical-align: middle;">&#160;</td>
              <td style="vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);" colspan="3">
                <div style="text-align: center; color: #000000; font-weight: bold;">Nine&#160;months&#160;ended</div>
              </td>
            </tr>
            <tr>
              <td style="width: 2%; vertical-align: bottom;" colspan="1">&#160;</td>
              <td style="width: 39.93%; vertical-align: bottom;">&#160;</td>
              <td style="width: 12.75%; vertical-align: bottom; border-bottom: #000000 2px solid;">
                <div style="text-align: right; color: #000000; font-weight: bold;">September</div>
                <div style="text-align: right; color: #000000; font-weight: bold;">30,&#160;2023</div>
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              <td style="width: 2.34%; vertical-align: bottom;">&#160;</td>
              <td style="width: 12.75%; vertical-align: bottom; border-bottom: #000000 2px solid;">
                <div style="text-align: right; color: #000000; font-weight: bold;">September</div>
                <div style="text-align: right; color: #000000; font-weight: bold;">30,&#160;2022</div>
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              <td style="width: 2.34%; vertical-align: bottom;">&#160;</td>
              <td style="width: 12.75%; vertical-align: bottom; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
                <div style="text-align: right; color: #000000; font-weight: bold;">September</div>
                <div style="text-align: right; color: #000000; font-weight: bold;">30,&#160;2023</div>
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              <td style="width: 2.38%; vertical-align: bottom; border-top: #000000 2px solid;">&#160;</td>
              <td style="width: 12.75%; vertical-align: bottom; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
                <div style="text-align: right; color: #000000; font-weight: bold;">September</div>
                <div style="text-align: right; color: #000000; font-weight: bold;">30,&#160;2022</div>
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            <tr>
              <td style="width: 2%; vertical-align: middle;" colspan="1">&#160;</td>
              <td style="width: 39.93%; vertical-align: middle; background-color: rgb(204, 238, 255);">
                <div style="color: #000000;">Loss&#160;attributable&#160;to&#160;the&#160;stockholders&#160;of&#160;the</div>
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                <div style="text-align: right; color: #000000;">(2,374)</div>
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              <td style="width: 2.34%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 12.75%; vertical-align: middle; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">(11,542)</div>
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              <td style="width: 2.34%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
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                <div style="text-align: right; color: #000000;">(16,913)</div>
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              <td style="width: 12.75%; vertical-align: middle; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">(52,095)</div>
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              <td style="width: 2%; vertical-align: middle;" colspan="1">&#160;</td>
              <td style="width: 39.93%; vertical-align: middle;">
                <div style="color: #000000;">Weighted&#160;average&#160;number&#160;of&#160;outstanding</div>
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              <td style="width: 12.75%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; color: #000000;">186,024</div>
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              <td style="width: 2.34%; vertical-align: middle;">&#160;</td>
              <td style="width: 12.75%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; color: #000000;">190,842</div>
              </td>
              <td style="width: 2.34%; vertical-align: middle;">&#160;</td>
              <td style="width: 12.75%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; color: #000000;">187,106</div>
              </td>
              <td style="width: 2.38%; vertical-align: middle;">&#160;</td>
              <td style="width: 12.75%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; color: #000000;">191,096</div>
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            </tr>
            <tr>
              <td style="width: 2%; vertical-align: bottom;" colspan="1">&#160;</td>
              <td style="width: 39.93%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="color: #000000; font-weight: bold;">Basic&#160;loss&#160;per&#160;share</div>
              </td>
              <td style="width: 12.75%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000; font-weight: bold;">(0.013)</div>
              </td>
              <td style="width: 2.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 12.75%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000; font-weight: bold;">(0.060)</div>
              </td>
              <td style="width: 2.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 12.75%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000; font-weight: bold;">(0.090)</div>
              </td>
              <td style="width: 2.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 12.75%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000; font-weight: bold;">(0.273)</div>
              </td>
            </tr>

        </table>
        <div><br>
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        <div> <br>
        </div>
        <table cellspacing="0" cellpadding="0" id="ze542fb50cd6f4c69b0c888ac4ff1afe3" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

            <tr>
              <td style="width: 2%; vertical-align: middle;" colspan="1">&#160;</td>
              <td style="width: 39.93%; vertical-align: middle;">&#160;</td>
              <td style="vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);" colspan="3">
                <div style="text-align: center; color: #000000; font-weight: bold;">Three&#160;months&#160;ended&#160;</div>
              </td>
              <td style="width: 2.34%; vertical-align: middle;">&#160;</td>
              <td style="vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);" colspan="3">
                <div style="text-align: center; color: #000000; font-weight: bold;">Nine&#160;months&#160;ended</div>
              </td>
            </tr>
            <tr>
              <td style="width: 2%; vertical-align: bottom;" colspan="1">&#160;</td>
              <td style="width: 39.93%; vertical-align: bottom;">&#160;</td>
              <td style="width: 12.75%; vertical-align: bottom; border-bottom: #000000 2px solid;">
                <div style="text-align: right; color: #000000; font-weight: bold;">September</div>
                <div style="text-align: right; color: #000000; font-weight: bold;">30,&#160;2023</div>
              </td>
              <td style="width: 2.34%; vertical-align: bottom;">&#160;</td>
              <td style="width: 12.75%; vertical-align: bottom; border-bottom: #000000 2px solid;">
                <div style="text-align: right; color: #000000; font-weight: bold;">September</div>
                <div style="text-align: right; color: #000000; font-weight: bold;">30,&#160;2022</div>
              </td>
              <td style="width: 2.34%; vertical-align: bottom;">&#160;</td>
              <td style="width: 12.75%; vertical-align: bottom; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
                <div style="text-align: right; color: #000000; font-weight: bold;">September</div>
                <div style="text-align: right; color: #000000; font-weight: bold;">30,&#160;2023</div>
              </td>
              <td style="width: 2.38%; vertical-align: bottom; border-top: #000000 2px solid;">&#160;</td>
              <td style="width: 12.75%; vertical-align: bottom; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
                <div style="text-align: right; color: #000000; font-weight: bold;">September</div>
                <div style="text-align: right; color: #000000; font-weight: bold;">30,&#160;2022</div>
              </td>
            </tr>
            <tr>
              <td style="width: 2%; vertical-align: middle;" colspan="1">&#160;</td>
              <td style="width: 39.93%; vertical-align: middle; background-color: rgb(204, 238, 255);">
                <div style="color: #000000;">Loss&#160;attributable&#160;to&#160;the&#160;stockholders&#160;of&#160;the</div>
                <div style="color: #000000;">Group</div>
              </td>
              <td style="width: 12.75%; vertical-align: middle; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">(2,374)</div>
              </td>
              <td style="width: 2.34%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 12.75%; vertical-align: middle; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">(11,542)</div>
              </td>
              <td style="width: 2.34%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 12.75%; vertical-align: middle; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">(16,913)</div>
              </td>
              <td style="width: 2.38%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 12.75%; vertical-align: middle; background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000;">(52,095)</div>
              </td>
            </tr>
            <tr>
              <td style="width: 2%; vertical-align: middle;" colspan="1">&#160;</td>
              <td style="width: 39.93%; vertical-align: middle;">
                <div style="color: #000000;">Weighted&#160;average&#160;number&#160;of&#160;outstanding</div>
                <div style="color: #000000;">common&#160;shares&#160;(thousands)</div>
              </td>
              <td style="width: 12.75%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; color: #000000;">186,024</div>
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              <td style="width: 2.34%; vertical-align: middle;">&#160;</td>
              <td style="width: 12.75%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; color: #000000;">190,842</div>
              </td>
              <td style="width: 2.34%; vertical-align: middle;">&#160;</td>
              <td style="width: 12.75%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; color: #000000;">187,106</div>
              </td>
              <td style="width: 2.38%; vertical-align: middle;">&#160;</td>
              <td style="width: 12.75%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; color: #000000;">191,096</div>
              </td>
            </tr>
            <tr>
              <td style="width: 2%; vertical-align: bottom;" colspan="1">&#160;</td>
              <td style="width: 39.93%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
                <div style="color: #000000; font-weight: bold;">Diluted&#160;loss&#160;per&#160;share</div>
              </td>
              <td style="width: 12.75%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000; font-weight: bold;">(0.013)</div>
              </td>
              <td style="width: 2.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 12.75%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000; font-weight: bold;">(0.060)</div>
              </td>
              <td style="width: 2.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 12.75%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000; font-weight: bold;">(0.090)</div>
              </td>
              <td style="width: 2.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
              <td style="width: 12.75%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="text-align: right; color: #000000; font-weight: bold;">(0.273)</div>
              </td>
            </tr>

        </table>
        <div style="text-align: justify; color: #000000;"> <br>
        </div>
        <div style="text-align: justify; color: #000000;"> <br>
        </div>
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            <tr>
              <td style="width: 2%; font-size: 12pt; text-align: left; vertical-align: top;">&#160;</td>
              <td style="width: 98%; font-weight: normal; text-align: left; vertical-align: bottom;">As of September 30, 2023 and 2022, the number of shares used to calculate diluted net loss per share of common stock attributable to common stockholders is
                the same as the number of shares used to calculate basic net loss per share of common stock attributable to common stockholders for the period presented because the potentially dilutive shares would have been anti-dilutive if included in
                the calculation. The number of the potentially dilutive shares that would have been anti-dilutive is disclosed in note 18.</td>
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        <div style="text-align: justify; color: #000000;"><br>
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        <div style="text-align: justify; color: #000000;"><br>
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        <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Notes to the condensed consolidated interim financial statements</div>
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        <tr>
          <td style="width: 2%; font-size: 12pt; text-align: left; vertical-align: top;"><font style="font-family: 'Times New Roman',Times,serif; font-weight: bold;">17</font></td>
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    <table cellspacing="0" cellpadding="0" border="0" id="zbd1349475cfa491c925a7eca0330d9bd" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

        <tr>
          <td style="width: 2%; vertical-align: middle;" colspan="1">&#160;</td>
          <td style="width: 39.62%; vertical-align: middle;">&#160;</td>
          <td style="vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);" colspan="3">
            <div style="text-align: center; color: #000000; font-weight: bold;">Three&#160;months&#160;ended</div>
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          <td style="width: 2.22%; vertical-align: middle;">&#160;</td>
          <td style="vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);" colspan="3">
            <div style="text-align: center; color: #000000; font-weight: bold;">Nine&#160;months&#160;ended</div>
          </td>
        </tr>
        <tr>
          <td style="width: 2%; vertical-align: bottom;" colspan="1">&#160;</td>
          <td style="width: 39.62%; vertical-align: bottom;">&#160;</td>
          <td style="width: 12.87%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: #000000; font-weight: bold;">September</div>
            <div style="text-align: right; color: #000000; font-weight: bold;">30,&#160;2023</div>
          </td>
          <td style="width: 2.22%; vertical-align: bottom;">&#160;</td>
          <td style="width: 12.87%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: #000000; font-weight: bold;">September</div>
            <div style="text-align: right; color: #000000; font-weight: bold;">30,&#160;2022</div>
          </td>
          <td style="width: 2.22%; vertical-align: bottom;">&#160;</td>
          <td style="width: 12.87%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: #000000; font-weight: bold;">September</div>
            <div style="text-align: right; color: #000000; font-weight: bold;">30,&#160;2023</div>
          </td>
          <td style="width: 2.22%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td style="width: 12.87%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: #000000; font-weight: bold;">September</div>
            <div style="text-align: right; color: #000000; font-weight: bold;">30,&#160;2022</div>
          </td>
        </tr>
        <tr>
          <td style="width: 2%; vertical-align: bottom;" colspan="1">&#160;</td>
          <td style="width: 39.62%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="color: #000000;">Interest&#160;and&#160;dividend&#160;earned&#160;on&#160;bank</div>
            <div style="color: #000000;">deposits&#160;and&#160;financial&#160;investments</div>
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          <td style="width: 12.87%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">4,820</div>
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          <td style="width: 2.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 12.87%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">300</div>
          </td>
          <td style="width: 2.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 12.87%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">9,875</div>
          </td>
          <td style="width: 2.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 12.87%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">597</div>
          </td>
        </tr>
        <tr>
          <td style="width: 2%; vertical-align: bottom;" colspan="1">&#160;</td>
          <td style="width: 39.62%; vertical-align: bottom;">
            <div style="color: #000000;">Foreign&#160;exchange&#160;gains</div>
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          <td style="width: 12.87%; vertical-align: bottom;">
            <div style="text-align: right; color: #000000;">1,114</div>
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          <td style="width: 2.22%; vertical-align: bottom;">&#160;</td>
          <td style="width: 12.87%; vertical-align: bottom;">
            <div style="text-align: right; color: #000000;">2,098</div>
          </td>
          <td style="width: 2.22%; vertical-align: bottom;">&#160;</td>
          <td style="width: 12.87%; vertical-align: bottom;">
            <div style="text-align: right; color: #000000;">5,288</div>
          </td>
          <td style="width: 2.22%; vertical-align: bottom;">&#160;</td>
          <td style="width: 12.87%; vertical-align: bottom;">
            <div style="text-align: right; color: #000000;">5,910</div>
          </td>
        </tr>
        <tr>
          <td style="width: 2%; vertical-align: bottom;" colspan="1">&#160;</td>
          <td style="width: 39.62%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="color: #000000;">Gains&#160;from&#160;fair&#160;value&#160;of&#160;financial</div>
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          <td style="width: 12.87%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
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          <td style="width: 12.87%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
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          <td style="width: 12.87%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
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          <td style="width: 12.87%; vertical-align: bottom;">
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          <td style="width: 12.87%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
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          <td style="width: 12.87%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">47</div>
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          <td style="width: 12.87%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">165</div>
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          <td style="width: 12.87%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
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          <td style="width: 39.62%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 12.87%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 2.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 12.87%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 2.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 12.87%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 2.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 12.87%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
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          <td style="width: 12.87%; vertical-align: bottom;">
            <div style="text-align: right; color: #000000;">(1,655)</div>
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          <td style="width: 12.87%; vertical-align: bottom;">
            <div style="text-align: right; color: #000000;">(2,032)</div>
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          <td style="width: 12.87%; vertical-align: bottom;">
            <div style="text-align: right; color: #000000;">(9,395)</div>
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          <td style="width: 12.87%; vertical-align: bottom;">
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          <td style="width: 12.87%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
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          <td style="width: 2.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 12.87%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
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          <td style="width: 12.87%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
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          <td style="width: 39.62%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
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          <td style="width: 12.87%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">(139)</div>
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          <td style="width: 2.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 12.87%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
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          <td style="width: 2.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 12.87%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
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          <td style="width: 2.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 12.87%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
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          <td style="width: 39.62%; vertical-align: bottom;">
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          <td style="width: 12.87%; vertical-align: bottom;">
            <div style="text-align: right; color: #000000;">(237)</div>
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          <td style="width: 12.87%; vertical-align: bottom;">
            <div style="text-align: right; color: #000000;">(3,173)</div>
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          <td style="width: 12.87%; vertical-align: bottom;">
            <div style="text-align: right; color: #000000;">(1,412)</div>
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          <td style="width: 12.87%; vertical-align: bottom;">
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          <td style="width: 39.62%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
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          <td style="width: 2.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 12.87%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
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          <td style="width: 2.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 12.87%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
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          <td style="width: 2.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 12.87%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">(3,786)</div>
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          <td style="width: 2%; vertical-align: bottom;" colspan="1">&#160;</td>
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            <div style="text-align: right; color: #000000;">(187)</div>
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          <td style="width: 2.22%; vertical-align: bottom;">&#160;</td>
          <td style="width: 12.87%; vertical-align: bottom;">
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          <td style="width: 2.22%; vertical-align: bottom;">&#160;</td>
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            <div style="text-align: right; color: #000000;">(490)</div>
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          <td style="width: 12.87%; vertical-align: bottom;">
            <div style="text-align: right; color: #000000;">(488)</div>
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          <td style="width: 39.62%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
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          <td style="width: 2.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 12.87%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
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          <td style="width: 2.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 12.87%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
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          <td style="width: 2.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 12.87%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
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        <tr>
          <td style="width: 2%; vertical-align: bottom;" colspan="1">&#160;</td>
          <td style="width: 39.62%; vertical-align: bottom;">&#160;</td>
          <td style="width: 12.87%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td style="width: 2.22%; vertical-align: bottom;">&#160;</td>
          <td style="width: 12.87%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td style="width: 2.22%; vertical-align: bottom;">&#160;</td>
          <td style="width: 12.87%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td style="width: 2.22%; vertical-align: bottom;">&#160;</td>
          <td style="width: 12.87%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
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          <td style="width: 2%; vertical-align: bottom;" colspan="1">&#160;</td>
          <td style="width: 39.62%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
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          <td style="width: 2.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
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          <td style="width: 2.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 12.87%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
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    </table>
    <div style="color: #000000; font-size: 8pt;"> <br>
    </div>
    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;" id="a0793209867a467d8472dd9da54f979d">

        <tr>
          <td style="width: 2%; font-size: 12pt; text-align: left; vertical-align: top;">&#160;</td>
          <td style="width: 98%; font-weight: normal; text-align: left; vertical-align: bottom; font-size: 12pt;"><font style="font-size: 8pt;">(i) Refers to gain and losses on
              change in the fair value of hedge instruments (Refer to note 19.1)</font></td>
        </tr>

    </table>
    <div style="color: #000000; font-size: 8pt;"><br>
    </div>
    <div style="color: #000000; font-size: 8pt;"><br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
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      <div style="page-break-after: always;" class="BRPFPageBreak">
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      <div style="width: 100%;" class="BRPFPageHeader"></div>
    </div>
    <div>
      <div style="color: rgb(0, 0, 0); font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">VTEX&#160;</div>
      <div style="color: rgb(0, 0, 0); font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">
        <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Notes to the condensed consolidated interim financial statements</div>
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      <div style="color: rgb(0, 0, 0); font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;"> <br>
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          <tr>
            <td style="width: 2%; font-size: 12pt; text-align: left; vertical-align: top; font-weight: bold;">18</td>
            <td style="width: 98%; font-weight: bold; text-align: left; vertical-align: bottom; font-size: 12pt;">
              <div>Share-based compensation</div>
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              <div><font style="font-size: 10pt;">18.1&#160; Share-based compensation: VTEX</font> </div>
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                </font></div>
              <div>
                <div style="text-align: justify; font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-weight: normal;">VTEX<font style="font-family: 'Times New Roman', Times, serif; color: #000000;"> provides share-based compensation to
                    selected directors and employees as a stock-option plan</font><font style="font-family: 'Times New Roman', Times, serif;">.</font></div>
                <div style="font-weight: normal;"><br>
                </div>
                <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-weight: normal;">Both stock options and Restricted Stock Units instruments (&#8220;RSUs&#8221;) are exercisable as long as the
                  director or employee fulfills the worked periods after the options are granted.</div>
                <div style="font-weight: normal;"><br>
                </div>
                <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-weight: normal;">Set out below are summaries of stock options granted under the plan:</div>
                <font style="font-size: 10pt;"> </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="ze166e4eeaf2e4281a1c2437592410329" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

        <tr>
          <td style="width: 2%; vertical-align: bottom;" colspan="1">&#160;</td>
          <td style="width: 35.85%; vertical-align: bottom;">&#160;</td>
          <td style="width: 2.33%; vertical-align: bottom;">&#160;</td>
          <td style="width: 14.87%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: #000000; font-weight: bold;">Number&#160;of</div>
            <div style="text-align: right; color: #000000; font-weight: bold;">options</div>
            <div style="text-align: right; color: #000000; font-weight: bold;">(thousands)</div>
          </td>
          <td style="width: 14.98%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: #000000; font-weight: bold;">Weighted</div>
            <div style="text-align: right; color: #000000; font-weight: bold;">average</div>
            <div style="text-align: right; color: #000000; font-weight: bold;">exercise&#160;price</div>
          </td>
          <td style="width: 14.98%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: #000000; font-weight: bold;">Remaining</div>
            <div style="text-align: right; color: #000000; font-weight: bold;">contractual</div>
            <div style="text-align: right; color: #000000; font-weight: bold;">terms&#160;in&#160;years</div>
          </td>
          <td style="width: 14.98%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: #000000; font-weight: bold;">Weighted</div>
            <div style="text-align: right; color: #000000; font-weight: bold;">average&#160;grant</div>
            <div style="text-align: right; color: #000000; font-weight: bold;">date&#160;fair&#160;value</div>
          </td>
        </tr>
        <tr>
          <td style="width: 2%; vertical-align: bottom;" colspan="1">&#160;</td>
          <td style="width: 35.85%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="color: #000000; font-weight: bold;">At&#160;January&#160;1,&#160;2023</div>
          </td>
          <td style="width: 2.33%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 14.87%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000; font-weight: bold;">9,714</div>
          </td>
          <td style="width: 14.98%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000; font-weight: bold;">4.18</div>
          </td>
          <td style="width: 14.98%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000; font-weight: bold;">4.37</div>
          </td>
          <td style="width: 14.98%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000; font-weight: bold;">1.41</div>
          </td>
        </tr>
        <tr>
          <td style="width: 2%; vertical-align: middle;" colspan="1">&#160;</td>
          <td style="width: 35.85%; vertical-align: middle;">
            <div style="color: #000000;">Granted</div>
          </td>
          <td style="width: 2.33%; vertical-align: middle;">&#160;</td>
          <td style="width: 14.87%; vertical-align: middle;">
            <div style="text-align: right; color: #000000;">883</div>
          </td>
          <td style="width: 14.98%; vertical-align: middle;">
            <div style="text-align: right; color: #000000;">4.73</div>
          </td>
          <td style="width: 14.98%; vertical-align: middle;">
            <div style="text-align: right; color: #000000;">-</div>
          </td>
          <td style="width: 14.98%; vertical-align: middle;">
            <div style="text-align: right; color: #000000;">1.97</div>
          </td>
        </tr>
        <tr>
          <td style="width: 2%; vertical-align: middle;" colspan="1">&#160;</td>
          <td style="width: 35.85%; vertical-align: middle; background-color: rgb(204, 238, 255);">
            <div style="color: #000000;">Forfeit</div>
          </td>
          <td style="width: 2.33%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 14.87%; vertical-align: middle; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">(483)</div>
          </td>
          <td style="width: 14.98%; vertical-align: middle; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">6.34</div>
          </td>
          <td style="width: 14.98%; vertical-align: middle; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">-</div>
          </td>
          <td style="width: 14.98%; vertical-align: middle; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">3.70</div>
          </td>
        </tr>
        <tr>
          <td style="width: 2%; vertical-align: middle;" colspan="1">&#160;</td>
          <td style="width: 35.85%; vertical-align: middle;">
            <div style="color: #000000;">Exercised&#160;(i)</div>
          </td>
          <td style="width: 2.33%; vertical-align: middle;">&#160;</td>
          <td style="width: 14.87%; vertical-align: middle;">
            <div style="text-align: right; color: #000000;">(750)</div>
          </td>
          <td style="width: 14.98%; vertical-align: middle;">
            <div style="text-align: right; color: #000000;">0.84</div>
          </td>
          <td style="width: 14.98%; vertical-align: middle;">
            <div style="text-align: right; color: #000000;">-</div>
          </td>
          <td style="width: 14.98%; vertical-align: middle;">
            <div style="text-align: right; color: #000000;">0.53</div>
          </td>
        </tr>
        <tr>
          <td style="width: 2%; vertical-align: middle;" colspan="1">&#160;</td>
          <td style="width: 35.85%; vertical-align: middle; background-color: rgb(204, 238, 255);">
            <div style="color: #000000; font-weight: bold;">At&#160;September&#160;30,&#160;2023</div>
          </td>
          <td style="width: 2.33%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 14.87%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000; font-weight: bold;">9,365</div>
          </td>
          <td style="width: 14.98%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000; font-weight: bold;">4.05</div>
          </td>
          <td style="width: 14.98%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000; font-weight: bold;">3.84</div>
          </td>
          <td style="width: 14.98%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000; font-weight: bold;">1.31</div>
          </td>
        </tr>
        <tr>
          <td style="width: 2%; vertical-align: middle;" colspan="1">&#160;</td>
          <td style="width: 35.85%; vertical-align: middle;">
            <div style="color: #000000; font-weight: bold;">Stock&#160;options&#160;exercisable&#160;as&#160;of</div>
            <div style="color: #000000; font-weight: bold;">September&#160;30,&#160;2023&#160;</div>
          </td>
          <td style="width: 2.33%; vertical-align: middle;">&#160;</td>
          <td style="width: 14.87%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: #000000; font-weight: bold;">4,350</div>
          </td>
          <td style="width: 14.98%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: #000000; font-weight: bold;">4.52</div>
          </td>
          <td style="width: 14.98%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: #000000; font-weight: bold;">3.63</div>
          </td>
          <td style="width: 14.98%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: #000000; font-weight: bold;">1.09</div>
          </td>
        </tr>

    </table>
    <div style="font-size: 8pt;"> <br>
    </div>
    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;" id="48ba6254abaf43cfb4e6e12f37bfbfb1">

        <tr>
          <td style="width: 2%; font-size: 12pt; text-align: left; vertical-align: top;">&#160;</td>
          <td style="width: 98%; font-weight: normal; text-align: left; vertical-align: bottom; font-size: 8pt;">(i) The number of stock-options withheld for tax purposes was 8.2 thousand shares.</td>
        </tr>

    </table>
    <div style="font-size: 8pt;"><br>
    </div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;" id="87dd4a5f504941ba844cb1de1ff98413">

        <tr>
          <td style="width: 2%; font-size: 12pt; text-align: left; vertical-align: top;">&#160;</td>
          <td style="width: 98%; font-weight: normal; text-align: left; vertical-align: bottom;">The fair value of <font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">the stock</font> options granted is calculated based on the
            Binomial Options Pricing Model considering the average contract term. The model inputs for options included:</td>
        </tr>

    </table>
    <div><br>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="z7c995128d7264b9184657658fcc1f309" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 36pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; margin-left: 18pt;">&#9679;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; color: #000000;">Strike Price - Average price weighted by the quantity granted;</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="z03f55b71c3b34b079a25b1fff59bd0be" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 36pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; margin-left: 18pt;">&#9679;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; color: #000000;">Target Asset Price - The trading price closest to the granting date of the options or the trading price derived from an independent valuation report;</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="z1795a856e04e4c0e89ca0fcd1d6590a3" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 36pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; margin-left: 18pt;">&#9679;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify;"><font style="color: #000000;">Risk-Free Interest Rate - US Treasury interest rate, </font>according to<font style="color: #000000;"> the contractual term;</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="zfac5a56587c641099697b6c9c6a04e75" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 36pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; margin-left: 18pt;">&#9679;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; color: #000000;">Volatility - According to comparable peer entities listed on the stock exchange.</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="text-align: justify;"><font style="color: #000000;"> <br>
      </font></div>
    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;" id="7c10312a5a7a42d2a1eaefffc6ab2a6a">

        <tr>
          <td style="width: 2%; font-size: 12pt; text-align: left; vertical-align: top;">&#160;</td>
          <td style="width: 98%; font-weight: normal; text-align: left; vertical-align: bottom; font-size: 12pt;">
            <div style="text-align: justify; font-size: 10pt;"><font style="color: #000000;">The </font>weighted<font style="color: #000000;"> average inputs used in t</font>he nine-month period ended September 30, 2023<font style="color: #000000;">:</font></div>
          </td>
        </tr>

    </table>
    <div style="text-align: justify;"><br>
      <font style="color: #000000;"></font></div>
    <div>
      <table cellspacing="0" cellpadding="0" id="zad56ed51cca740b4a9baf0d6c6b4c6cb" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 36pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; margin-left: 18pt; color: #000000;">&#9679;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify;"><font style="color: #000000;">Target Asset Price - </font>US$4.74 <font style="color: #000000;">per share </font>(December 31, 2022 <font style="color: #000000;">- </font>US$4.40 per share)</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="zd2f8f2a0f8594ba5a7b377bd90753bcc" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 36pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; margin-left: 18pt; color: #000000;">&#9679;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify;"><font style="color: #000000;">Risk-Free Interest Rate &#8211; 4.14% (</font>December 31, 2022<font style="color: #000000;">: </font>3.83<font style="color: #000000;">%)</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="z27bd2ae444d04815bb1d3a303d0cbd1d" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 36pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; margin-left: 18pt; color: #000000;">&#9679;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify;"><font style="color: #000000;">Volatility &#8211; 58.63% (</font>December 31, 2022: 55.68%)</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="zfe0bc1e1fa434c908078c79b25f50907" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 36pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; margin-left: 18pt;">&#9679;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify;">Expected dividend: None</div>
            </td>
          </tr>

      </table>
      <div> <br>
      </div>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-weight: normal; font-style: normal;" class="BRPFPageNumber">22</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      <div style="width: 100%;" class="BRPFPageHeader"></div>
    </div>
    <div style="text-align: justify;">
      <div style="color: rgb(0, 0, 0); font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">VTEX&#160;</div>
      <div style="color: rgb(0, 0, 0); font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">
        <div style="text-align: left; color: #000000; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Notes to the condensed consolidated interim financial statements</div>
      </div>
      <div style="color: rgb(0, 0, 0); font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">(Unaudited)</div>
      <div style="color: rgb(0, 0, 0); font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">In thousands of U.S. dollars, unless otherwise indicated</div>
      <div style="color: rgb(0, 0, 0); font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">
        <hr noshade="noshade" align="left" style="height: 1pt; width: 100%; color: #000000; background-color: #000000; text-align: left; margin-left: 0px; margin-right: auto; border: none;"> </div>
    </div>
    <div style="text-align: justify;"> <br>
    </div>
    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;" id="4937f11486cc4dfc837c57bb5f83b831">

        <tr>
          <td style="width: 2%; font-size: 12pt; text-align: left; vertical-align: top;">&#160;</td>
          <td style="width: 98%; font-weight: normal; text-align: left; vertical-align: bottom;">The following table summarizes the<font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);"> RSU options granted under the plan:</font></td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z671af1cc68fa44f596205a11a2033924" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

        <tr>
          <td style="width: 2%; vertical-align: bottom;" colspan="1">&#160;</td>
          <td style="width: 63.98%; vertical-align: bottom;">&#160;</td>
          <td style="width: 2.36%; vertical-align: bottom;">&#160;</td>
          <td style="width: 14.64%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div style="text-align: right; color: #000000; font-weight: bold;">Number&#160;of</div>
            <div style="text-align: right; color: #000000; font-weight: bold;">RSUs</div>
            <div style="text-align: right; color: #000000; font-weight: bold;">(thousands)</div>
          </td>
          <td style="width: 14.66%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div style="text-align: right; color: #000000; font-weight: bold;">Weighted</div>
            <div style="text-align: right; color: #000000; font-weight: bold;">average&#160;grant</div>
            <div style="text-align: right; color: #000000; font-weight: bold;">date&#160;fair&#160;value</div>
          </td>
          <td style="width: 2.36%; vertical-align: bottom;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 2%; vertical-align: bottom;" colspan="1">&#160;</td>
          <td style="width: 63.98%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="color: #000000; font-weight: bold;">At&#160;January&#160;1,&#160;2023</div>
          </td>
          <td style="width: 2.36%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 14.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000; font-weight: bold;">3,509</div>
          </td>
          <td style="width: 14.66%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000; font-weight: bold;">6.94</div>
          </td>
          <td style="width: 2.36%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
        </tr>
        <tr>
          <td style="width: 2%; vertical-align: middle;" colspan="1">&#160;</td>
          <td style="width: 63.98%; vertical-align: middle;">
            <div style="color: #000000;">Granted</div>
          </td>
          <td style="width: 2.36%; vertical-align: middle;">&#160;</td>
          <td style="width: 14.64%; vertical-align: middle;">
            <div style="text-align: right; color: #000000;">1,181</div>
          </td>
          <td style="width: 14.66%; vertical-align: middle;">
            <div style="text-align: right; color: #000000;">4.13</div>
          </td>
          <td style="width: 2.36%; vertical-align: middle;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 2%; vertical-align: middle;" colspan="1">&#160;</td>
          <td style="width: 63.98%; vertical-align: middle; background-color: rgb(204, 238, 255);">
            <div style="color: #000000;">Forfeit</div>
          </td>
          <td style="width: 2.36%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 14.64%; vertical-align: middle; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">(262)</div>
          </td>
          <td style="width: 14.66%; vertical-align: middle; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">6.42</div>
          </td>
          <td style="width: 2.36%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
        </tr>
        <tr>
          <td style="width: 2%; vertical-align: middle;" colspan="1">&#160;</td>
          <td style="width: 63.98%; vertical-align: middle;">
            <div style="color: #000000;">Settled&#160;(i)</div>
          </td>
          <td style="width: 2.36%; vertical-align: middle;">&#160;</td>
          <td style="width: 14.64%; vertical-align: middle;">
            <div style="text-align: right; color: #000000;">(1,697)</div>
          </td>
          <td style="width: 14.66%; vertical-align: middle;">
            <div style="text-align: right; color: #000000;">5.87</div>
          </td>
          <td style="width: 2.36%; vertical-align: middle;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 2%; vertical-align: middle;" colspan="1">&#160;</td>
          <td style="width: 63.98%; vertical-align: middle; background-color: rgb(204, 238, 255);">
            <div style="color: #000000; font-weight: bold;">At&#160;September&#160;30,&#160;2023</div>
          </td>
          <td style="width: 2.36%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 14.64%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000; font-weight: bold;">2,731</div>
          </td>
          <td style="width: 14.66%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000; font-weight: bold;">6.43</div>
          </td>
          <td style="width: 2.36%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
        </tr>

    </table>
    <div style="font-size: 8pt;"> <br>
    </div>
    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;" id="92e44a321e244c3db38a780a477a3b09">

        <tr>
          <td style="width: 2%; font-size: 12pt; text-align: left; vertical-align: top;">&#160;</td>
          <td style="width: 98%; font-weight: normal; text-align: left; vertical-align: bottom; font-size: 12pt;"><font style="font-size: 8pt;">(i)</font> <font style="font-size: 8pt; color: #000000;">The number of RSUs withheld for tax purposes was 489
              thousand shares</font><font style="font-size: 8pt;">.</font></td>
        </tr>

    </table>
    <div style="font-size: 8pt;">
      <div><br>
      </div>
      <br>
    </div>
    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;" id="4e8fc87f4e25409bb11441d3114a0d2b">

        <tr>
          <td style="width: 2%; font-size: 12pt; text-align: left; vertical-align: top;">&#160;</td>
          <td style="width: 98%; font-weight: normal; text-align: left; vertical-align: bottom; font-size: 12pt;">
            <div style="text-align: justify; color: #000000; font-size: 10pt;">The fair value of the restricted stock units granted was calculated using the same Target Asset Price used in the Stock Options appraisal model.</div>
            <div><br>
            </div>
            <div style="text-align: justify; color: #000000; font-size: 10pt;">In June 2023, the Group canceled some stock option instruments, and replacement awards were issued. The total incremental fair value of US$131 will be recognized as an expense
              over the period from the replacement date to the end of the vesting period. The expense for the canceled stock option granted will continue to be recognized as if the contract had not been terminated. The fair value of the replacement award
              was determined using the same models and principles of the canceled contract.</div>
            <div><br>
            </div>
            <div style="text-align: justify; color: #000000; font-size: 10pt;">For the nine-month period ended September 30, 2023, there was US$ 7,635 of remaining unamortized compensation costs, including social charges, related to unvested stock options
              and RSUs granted to the Group&#8217;s employees. This cost will be recognized over an estimated weighted average remaining period of 1.56 years. Total unamortized compensation costs will be adjusted for future changes in estimated forfeitures.</div>
            <div><br>
            </div>
            <div style="text-align: justify; color: #000000; font-size: 10pt;">The total expense, including taxes and social charges related to the share-based compensation plan for the nine-month period ended September 30, 2023, was US$12,068 (the
              nine-month period ended September 30, 2022: US$7,945). For the period ended September 30, 2023, the Group recorded in the capital reserve the amount of US$10,725 (the nine-month period ended September 30, 2022: US$8,503).</div>
            <div><br>
            </div>
            <div style="text-align: justify; color: #000000; font-size: 10pt;">The Company must withhold an amount for an employee's tax obligation associated with a share-based payment and transfer that amount to the tax authority on the employee's
              behalf. The Company is settling the share-based compensation on a net basis by withholding the number of shares with a fair value equal to the monetary value of the employee's tax obligation and only issuing the remaining shares on completion
              of the vesting period. If all of the shares outstanding as at September 30, 2023 were subsequently vested, the Group would be required to pay taxes of approximately US$5,734 considering the stock price as of September 30, 2023.</div>
          </td>
        </tr>

    </table>
    <br>
    <br>
    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;" id="4c8997c177fc4353b83091f54805969f">

        <tr>
          <td style="width: 2%; font-size: 12pt; text-align: left; vertical-align: top;">&#160;</td>
          <td style="width: 98%; font-weight: bold; text-align: left; vertical-align: bottom;">
            <div>18.2&#160; Share-based compensation: Loja Integrada</div>
            <div> <br>
            </div>
            <div style="font-weight: normal;">On April 29, 2021, VTEX introduced a new share-based compensation plan to selected directors and employees as a stock-option and RSU plan in Loja Integrada, a subsidiary wholly owned. This share-based
              compensation plan also has RSU and Stock Options. Under both stock-option plan and RSUs, the options have a term of 7 years as of the grant date. They are exercisable as long as the director or employee fulfills the worked periods after the
              options are granted. </div>
          </td>
        </tr>

    </table>
    <div> <br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-weight: normal; font-style: normal;" class="BRPFPageNumber">23</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      <div style="width: 100%;" class="BRPFPageHeader"></div>
    </div>
    <div>
      <div style="color: rgb(0, 0, 0); font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">VTEX&#160;</div>
      <div style="color: rgb(0, 0, 0); font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">
        <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Notes to the condensed consolidated interim financial statements</div>
      </div>
      <div style="color: rgb(0, 0, 0); font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">(Unaudited)</div>
      <div style="color: rgb(0, 0, 0); font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">In thousands of U.S. dollars, unless otherwise indicated</div>
      <div style="color: rgb(0, 0, 0); font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">
        <hr noshade="noshade" align="left" style="height: 1pt; width: 100%; color: #000000; background-color: #000000; margin-left: 0px; margin-right: auto; border: none;"> </div>
    </div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;" id="b1649c9f04ee47578675e01b62d03ff4">

        <tr>
          <td style="width: 2%; font-size: 12pt; text-align: left; vertical-align: top;">&#160;</td>
          <td style="width: 98%; font-weight: normal; text-align: left; vertical-align: bottom;">Set out below are summaries of stock options granted under the plan:</td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="zfb2b7225fd1c49598d993748f89734c8" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

        <tr>
          <td style="width: 2%; vertical-align: bottom;" colspan="1">&#160;</td>
          <td style="width: 35.85%; vertical-align: bottom;">&#160;</td>
          <td style="width: 2.34%; vertical-align: bottom;">&#160;</td>
          <td style="width: 14.89%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div style="text-align: right; color: #000000; font-weight: bold;">Number&#160;of</div>
            <div style="text-align: right; color: #000000; font-weight: bold;">options</div>
            <div style="text-align: right; color: #000000; font-weight: bold;">(thousands)</div>
          </td>
          <td style="width: 14.97%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div style="text-align: right; color: #000000; font-weight: bold;">Weighted</div>
            <div style="text-align: right; color: #000000; font-weight: bold;">average</div>
            <div style="text-align: right; color: #000000; font-weight: bold;">exercise&#160;price</div>
          </td>
          <td style="width: 14.97%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div style="text-align: right; color: #000000; font-weight: bold;">Remaining</div>
            <div style="text-align: right; color: #000000; font-weight: bold;">contractual</div>
            <div style="text-align: right; color: #000000; font-weight: bold;">terms&#160;in&#160;years</div>
          </td>
          <td style="width: 14.97%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div style="text-align: right; color: #000000; font-weight: bold;">Weighted</div>
            <div style="text-align: right; color: #000000; font-weight: bold;">average&#160;grant</div>
            <div style="text-align: right; color: #000000; font-weight: bold;">date&#160;fair&#160;value</div>
          </td>
        </tr>
        <tr>
          <td style="width: 2%; vertical-align: bottom;" colspan="1">&#160;</td>
          <td style="width: 35.85%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="color: #000000; font-weight: bold;">At&#160;January&#160;1,&#160;2023</div>
          </td>
          <td style="width: 2.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 14.89%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000; font-weight: bold;">8.42</div>
          </td>
          <td style="width: 14.97%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000; font-weight: bold;">13.48</div>
          </td>
          <td style="width: 14.97%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000; font-weight: bold;">5.35</div>
          </td>
          <td style="width: 14.97%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000; font-weight: bold;">5.66</div>
          </td>
        </tr>
        <tr>
          <td style="width: 2%; vertical-align: middle;" colspan="1">&#160;</td>
          <td style="width: 35.85%; vertical-align: middle;">
            <div style="color: #000000;">Granted</div>
          </td>
          <td style="width: 2.34%; vertical-align: middle;">&#160;</td>
          <td style="width: 14.89%; vertical-align: middle;">
            <div style="text-align: right; color: #000000;">-</div>
          </td>
          <td style="width: 14.97%; vertical-align: middle;">
            <div style="text-align: right; color: #000000;">-</div>
          </td>
          <td style="width: 14.97%; vertical-align: middle;">
            <div style="text-align: right; color: #000000;">-</div>
          </td>
          <td style="width: 14.97%; vertical-align: middle;">
            <div style="text-align: right; color: #000000;">-</div>
          </td>
        </tr>
        <tr>
          <td style="width: 2%; vertical-align: middle;" colspan="1">&#160;</td>
          <td style="width: 35.85%; vertical-align: middle; background-color: rgb(204, 238, 255);">
            <div style="color: #000000;">Forfeit</div>
          </td>
          <td style="width: 2.34%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 14.89%; vertical-align: middle; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">-</div>
          </td>
          <td style="width: 14.97%; vertical-align: middle; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">-</div>
          </td>
          <td style="width: 14.97%; vertical-align: middle; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">-</div>
          </td>
          <td style="width: 14.97%; vertical-align: middle; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">-</div>
          </td>
        </tr>
        <tr>
          <td style="width: 2%; vertical-align: middle;" colspan="1">&#160;</td>
          <td style="width: 35.85%; vertical-align: middle;">
            <div style="color: #000000;">Exercised</div>
          </td>
          <td style="width: 2.34%; vertical-align: middle;">&#160;</td>
          <td style="width: 14.89%; vertical-align: middle;">
            <div style="text-align: right; color: #000000;">-</div>
          </td>
          <td style="width: 14.97%; vertical-align: middle;">
            <div style="text-align: right; color: #000000;">-</div>
          </td>
          <td style="width: 14.97%; vertical-align: middle;">
            <div style="text-align: right; color: #000000;">-</div>
          </td>
          <td style="width: 14.97%; vertical-align: middle;">
            <div style="text-align: right; color: #000000;">-</div>
          </td>
        </tr>
        <tr>
          <td style="width: 2%; vertical-align: middle;" colspan="1">&#160;</td>
          <td style="width: 35.85%; vertical-align: middle; background-color: rgb(204, 238, 255);">
            <div style="color: #000000; font-weight: bold;">At&#160;September&#160;30,&#160;2023</div>
          </td>
          <td style="width: 2.34%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 14.89%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000; font-weight: bold;">8.42</div>
          </td>
          <td style="width: 14.97%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000; font-weight: bold;">14.81</div>
          </td>
          <td style="width: 14.97%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000; font-weight: bold;">4.61</div>
          </td>
          <td style="width: 14.97%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000; font-weight: bold;">6.22</div>
          </td>
        </tr>
        <tr>
          <td style="width: 2%; vertical-align: middle;" colspan="1">&#160;</td>
          <td style="width: 35.85%; vertical-align: middle;">
            <div style="color: #000000; font-weight: bold;">Stock&#160;options&#160;exercisable&#160;as&#160;of</div>
            <div style="color: #000000; font-weight: bold;">September&#160;30,&#160;2023</div>
          </td>
          <td style="width: 2.34%; vertical-align: middle;">&#160;</td>
          <td style="width: 14.89%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: #000000; font-weight: bold;">8.42</div>
          </td>
          <td style="width: 14.97%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: #000000; font-weight: bold;">14.81</div>
          </td>
          <td style="width: 14.97%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: #000000; font-weight: bold;">4.61</div>
          </td>
          <td style="width: 14.97%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: #000000; font-weight: bold;">6.22</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: justify;"> <br>
    </div>
    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;" id="c70f1388daec4633a023597e2b0e3eac">

        <tr>
          <td style="width: 2%; font-size: 12pt; text-align: left; vertical-align: top;">&#160;</td>
          <td style="width: 98%; font-weight: normal; text-align: left; vertical-align: bottom;">The fair value of the stock options granted is calculated based on the Binomial Options Pricing Model considering the average contract term. The model inputs
            for options included:</td>
        </tr>

    </table>
    <div style="text-align: justify;"> <br>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="zfd37564b6df34b9fbd4276c59e9af198" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 36pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; margin-left: 18pt;">&#9679;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div>Strike Price - Average price weighted by the quantity granted;</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="z6478e462c58f46308006d33ac943344b" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 36pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; margin-left: 18pt;">&#9679;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify;">Target Asset Price - The trading price closest to the granting date of the options or the trading price derived from an independent valuation report;</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="z081082d51e5544d1b17a84ffcc682d36" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 36pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; margin-left: 18pt;">&#9679;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify;">Risk-Free Interest Rate - Future CDI, according to the contractual term;</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="ze3bf3dcf2e674c00accb32fbf2900246" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
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              <div style="text-align: left; margin-left: 18pt;">&#9679;</div>
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              <div style="text-align: justify;">Volatility - According to comparable peer entities listed on the stock exchange.</div>
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          </tr>

      </table>
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    <div><br>
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    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;" id="db73aeef9e8d4bda9a0a20ffb4122976">

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          <td style="width: 98%; font-weight: normal; text-align: left; vertical-align: bottom;">The following table summarizes the RSU options granted under the plan:</td>
        </tr>

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    <div><br>
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    <table cellspacing="0" cellpadding="0" id="za668e985f5be42a0aad7307f687d6480" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

        <tr>
          <td style="width: 2%; vertical-align: bottom;" colspan="1">&#160;</td>
          <td style="width: 65.59%; vertical-align: bottom;">&#160;</td>
          <td style="width: 2.41%; vertical-align: bottom;">&#160;</td>
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            <div style="text-align: right; color: #000000; font-weight: bold;">Weighted</div>
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        <tr>
          <td style="width: 2%; vertical-align: bottom;" colspan="1">&#160;</td>
          <td style="width: 65.59%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="color: #000000; font-weight: bold;">At&#160;January&#160;1,&#160;2023</div>
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          <td style="width: 14.99%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000; font-weight: bold;">285.28</div>
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        <tr>
          <td style="width: 2%; vertical-align: middle;" colspan="1">&#160;</td>
          <td style="width: 65.59%; vertical-align: middle;">
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          <td style="width: 14.99%; vertical-align: middle;">
            <div style="text-align: right; color: #000000;">115.00</div>
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          <td style="width: 15%; vertical-align: middle;">
            <div style="text-align: right; color: #000000;">4.93</div>
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        <tr>
          <td style="width: 2%; vertical-align: middle;" colspan="1">&#160;</td>
          <td style="width: 65.59%; vertical-align: middle; background-color: rgb(204, 238, 255);">
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          <td style="width: 2.41%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 14.99%; vertical-align: middle; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">(82.25)</div>
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          <td style="width: 15%; vertical-align: middle; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">5.50</div>
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        </tr>
        <tr>
          <td style="width: 2%; vertical-align: middle;" colspan="1">&#160;</td>
          <td style="width: 65.59%; vertical-align: middle;">
            <div style="color: #000000;">Settled&#160;(i)</div>
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          <td style="width: 2.41%; vertical-align: middle;">&#160;</td>
          <td style="width: 14.99%; vertical-align: middle;">
            <div style="text-align: right; color: #000000;">(63.58)</div>
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          <td style="width: 15%; vertical-align: middle;">
            <div style="text-align: right; color: #000000;">6.62</div>
          </td>
        </tr>
        <tr>
          <td style="width: 2%; vertical-align: middle;" colspan="1">&#160;</td>
          <td style="width: 65.59%; vertical-align: middle; background-color: rgb(204, 238, 255);">
            <div style="color: #000000; font-weight: bold;">At&#160;September&#160;30,&#160;2023</div>
          </td>
          <td style="width: 2.41%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 14.99%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000; font-weight: bold;">254.46</div>
          </td>
          <td style="width: 15%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000; font-weight: bold;">6.38</div>
          </td>
        </tr>

    </table>
    <div style="font-size: 8pt;"> <br>
    </div>
    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;" id="0149ad3e9d7b4125bbfa70b8d877e063">

        <tr>
          <td style="width: 2%; font-size: 12pt; text-align: left; vertical-align: top;">&#160;</td>
          <td style="width: 98%; font-weight: normal; text-align: left; vertical-align: bottom; font-size: 8pt;">(i) The number of RSUs withheld for tax purposes was 0.7 thousand shares.</td>
        </tr>

    </table>
    <div style="font-size: 8pt;"><br>
    </div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;" id="0abb596c5425472493f3c5efaf9708d8">

        <tr>
          <td style="width: 2%; font-size: 12pt; text-align: left; vertical-align: top;">&#160;</td>
          <td style="width: 98%; font-weight: normal; text-align: left; vertical-align: bottom; font-size: 12pt;">
            <div style="text-align: justify; font-size: 10pt;">For the nine-month period ended September 30, 2023, there was US$902 of remaining unamortized compensation cost, including social charges, related to unvested stock options and RSUs granted to
              the Group&#8217;s employees. This cost will be recognized over an estimated weighted-average remaining period of 1.7 years. Total unamortized compensation costs will be adjusted for future changes in estimated forfeitures.</div>
            <div><br>
            </div>
            <div style="text-align: justify; font-size: 10pt;">The total expense, including taxes and social charges related to the Loja Integrada share-based compensation plan for the nine-month period ended September 30, 2023, was US$2,330 (the
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          </td>
        </tr>

    </table>
    <div> <br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-weight: normal; font-style: normal;" class="BRPFPageNumber">24</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      <div style="width: 100%;" class="BRPFPageHeader"></div>
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    <div style="font-family: 'Times New Roman',Times,serif; font-weight: 400;">
      <div style="color: rgb(0, 0, 0); font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-weight: bold;">VTEX&#160;</div>
      <div style="color: rgb(0, 0, 0); font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-weight: bold;">
        <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Notes to the condensed consolidated interim financial statements</div>
      </div>
      <div style="color: rgb(0, 0, 0); font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-weight: bold;">(Unaudited)</div>
      <div style="color: rgb(0, 0, 0); font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-weight: bold;">In thousands of U.S. dollars, unless otherwise indicated</div>
      <div style="color: rgb(0, 0, 0); font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-weight: bold;">
        <hr noshade="noshade" align="left" style="height: 1pt; width: 100%; color: #000000; background-color: #000000; margin-left: 0px; margin-right: auto; border: none;"> </div>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;" id="60fc1c235b244794836365340d1b088f">

          <tr>
            <td style="width: 2%; font-size: 12pt; text-align: left; vertical-align: top;">&#160;</td>
            <td style="width: 98%; font-weight: normal; text-align: left; vertical-align: bottom;">The Company must withhold an amount for an employee's tax obligation associated with a share-based payment and transfer that amount to the tax authority on
              the employee's behalf. The Company is settling the share-based compensation on a net basis by withholding the number of shares with a fair value equal to the monetary value of the employee's tax obligation and only issuing the remaining
              shares on completion of the vesting period. If all of the shares outstanding as at September 30, 2023 were subsequently vested, the Group would be required to pay taxes of approximately US$104 considering the stock price as of September 30,
              2023.</td>
          </tr>

      </table>
      <br>
      <div>
        <hr noshade="noshade" align="left" style="height: 1pt; width: 100%; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); border: medium none; font-weight: 400;"> </div>
    </div>
    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;" id="c2dad5469bb44fae9a8c292285a7bbfb">

        <tr>
          <td style="width: 2%; font-size: 12pt; text-align: left; vertical-align: top;">&#160;</td>
          <td style="width: 98%; font-weight: bold; text-align: left; vertical-align: bottom;">
            <div>18.3&#160; Amounts recognized in the statement of profit or loss</div>
            <div> <br>
            </div>
            <div><font style="font-weight: normal;">The following table illustrates the classification of stock-based compensation in the consolidated statements of profit and loss which includes both stock-based compensation of VTEX and Loja Integrada:</font>
            </div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="ze1dd1e5cfe324b909cdc998003de13bc" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

        <tr>
          <td style="width: 2%; vertical-align: bottom;" colspan="1">&#160;</td>
          <td style="width: 39.87%; vertical-align: bottom;">&#160;</td>
          <td style="width: 1.27%; vertical-align: bottom;">&#160;</td>
          <td style="vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);" colspan="3">
            <div style="text-align: center; color: #000000; font-weight: bold;">Three&#160;months&#160;ended&#160;</div>
          </td>
          <td style="width: 2.34%; vertical-align: bottom;">&#160;</td>
          <td style="vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);" colspan="3">
            <div style="text-align: center; color: #000000; font-weight: bold;">Nine&#160;months&#160;ended</div>
          </td>
        </tr>
        <tr>
          <td style="width: 2%; vertical-align: bottom;" colspan="1">&#160;</td>
          <td style="width: 39.87%; vertical-align: bottom;">&#160;</td>
          <td style="width: 1.27%; vertical-align: bottom;">&#160;</td>
          <td style="width: 12.46%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: #000000; font-weight: bold;">September</div>
            <div style="text-align: right; color: #000000; font-weight: bold;">30,&#160;2023</div>
          </td>
          <td style="width: 2.34%; vertical-align: bottom;">&#160;</td>
          <td style="width: 12.46%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: #000000; font-weight: bold;">September</div>
            <div style="text-align: right; color: #000000; font-weight: bold;">30,&#160;2022</div>
          </td>
          <td style="width: 2.34%; vertical-align: bottom;">&#160;</td>
          <td style="width: 12.46%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: #000000; font-weight: bold;">September</div>
            <div style="text-align: right; color: #000000; font-weight: bold;">30,&#160;2023</div>
          </td>
          <td style="width: 2.34%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td style="width: 12.46%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: #000000; font-weight: bold;">September</div>
            <div style="text-align: right; color: #000000; font-weight: bold;">30,&#160;2022</div>
          </td>
        </tr>
        <tr>
          <td style="width: 2%; vertical-align: bottom;" colspan="1">&#160;</td>
          <td style="width: 39.87%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="color: #000000;">Subscription&#160;cost</div>
          </td>
          <td style="width: 1.27%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
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            <div style="text-align: right; color: #000000;">(171)</div>
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          <td style="width: 12.46%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">(196)</div>
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          <td style="width: 2.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 12.46%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">(338)</div>
          </td>
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        <tr>
          <td style="width: 2%; vertical-align: bottom;" colspan="1">&#160;</td>
          <td style="width: 39.87%; vertical-align: bottom;">
            <div style="color: #000000;">Services&#160;cost</div>
          </td>
          <td style="width: 1.27%; vertical-align: bottom;">&#160;</td>
          <td style="width: 12.46%; vertical-align: bottom;">
            <div style="text-align: right; color: #000000;">(105)</div>
          </td>
          <td style="width: 2.34%; vertical-align: bottom;">&#160;</td>
          <td style="width: 12.46%; vertical-align: bottom;">
            <div style="text-align: right; color: #000000;">(47)</div>
          </td>
          <td style="width: 2.34%; vertical-align: bottom;">&#160;</td>
          <td style="width: 12.46%; vertical-align: bottom;">
            <div style="text-align: right; color: #000000;">(349)</div>
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          <td style="width: 2.34%; vertical-align: bottom;">&#160;</td>
          <td style="width: 12.46%; vertical-align: bottom;">
            <div style="text-align: right; color: #000000;">(67)</div>
          </td>
        </tr>
        <tr>
          <td style="width: 2%; vertical-align: bottom;" colspan="1">&#160;</td>
          <td style="width: 39.87%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="color: #000000;">General&#160;and&#160;administrative</div>
          </td>
          <td style="width: 1.27%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 12.46%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">(1,497)</div>
          </td>
          <td style="width: 2.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 12.46%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">(1,262)</div>
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          <td style="width: 2.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 12.46%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">(4,919)</div>
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          <td style="width: 2.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 12.46%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">(2,890)</div>
          </td>
        </tr>
        <tr>
          <td style="width: 2%; vertical-align: bottom;" colspan="1">&#160;</td>
          <td style="width: 39.87%; vertical-align: bottom;">
            <div style="color: #000000;">Sales&#160;and&#160;marketing</div>
          </td>
          <td style="width: 1.27%; vertical-align: bottom;">&#160;</td>
          <td style="width: 12.46%; vertical-align: bottom;">
            <div style="text-align: right; color: #000000;">(967)</div>
          </td>
          <td style="width: 2.34%; vertical-align: bottom;">&#160;</td>
          <td style="width: 12.46%; vertical-align: bottom;">
            <div style="text-align: right; color: #000000;">(1,261)</div>
          </td>
          <td style="width: 2.34%; vertical-align: bottom;">&#160;</td>
          <td style="width: 12.46%; vertical-align: bottom;">
            <div style="text-align: right; color: #000000;">(3,336)</div>
          </td>
          <td style="width: 2.34%; vertical-align: bottom;">&#160;</td>
          <td style="width: 12.46%; vertical-align: bottom;">
            <div style="text-align: right; color: #000000;">(1,743)</div>
          </td>
        </tr>
        <tr>
          <td style="width: 2%; vertical-align: bottom;" colspan="1">&#160;</td>
          <td style="width: 39.87%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="color: #000000;">Research&#160;and&#160;development</div>
          </td>
          <td style="width: 1.27%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 12.46%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">(1,934)</div>
          </td>
          <td style="width: 2.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 12.46%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">(2,027)</div>
          </td>
          <td style="width: 2.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 12.46%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">(5,598)</div>
          </td>
          <td style="width: 2.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 12.46%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">(3,128)</div>
          </td>
        </tr>
        <tr>
          <td style="width: 2%; vertical-align: bottom;" colspan="1">&#160;</td>
          <td style="width: 39.87%; vertical-align: bottom;">
            <div style="color: #000000; font-weight: bold;">Total</div>
          </td>
          <td style="width: 1.27%; vertical-align: bottom;">&#160;</td>
          <td style="width: 12.46%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: #000000; font-weight: bold;">(4,593)</div>
          </td>
          <td style="width: 2.34%; vertical-align: bottom;">&#160;</td>
          <td style="width: 12.46%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: #000000; font-weight: bold;">(4,768)</div>
          </td>
          <td style="width: 2.34%; vertical-align: bottom;">&#160;</td>
          <td style="width: 12.46%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: #000000; font-weight: bold;">(14,398)</div>
          </td>
          <td style="width: 2.34%; vertical-align: bottom;">&#160;</td>
          <td style="width: 12.46%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: #000000; font-weight: bold;">(8,166)</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;" id="deba267318fb43bd8aa9f06586482068">

        <tr>
          <td style="width: 2%; font-size: 12pt; text-align: left; vertical-align: top; font-weight: bold;">19</td>
          <td style="width: 98%; font-weight: bold; text-align: left; vertical-align: bottom; font-size: 12pt;">
            <div>Financial Instruments</div>
            <div> <br>
            </div>
            <div style="font-size: 10pt;"> 19.1&#160; Financial instruments by category</div>
            <div style="font-size: 10pt;"> <br>
            </div>
            <div style="font-size: 10pt;">
              <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-weight: normal;">The Company classifies its financial assets and liabilities under the following categories: amortized cost, fair value
                through other comprehensive income and fair value through profit or loss. The classification by category and the corresponding accounting policies of each financial instrument in these condensed consolidated interim financial statements are
                consistent with those applied and disclosed in the Company&#8217;s audited consolidated financial statements for the year ended on December 31, 2022.</div>
              <div style="font-weight: normal;"><br>
              </div>
              <div><font style="font-family: 'Times New Roman',Times,serif; font-weight: bold; color: rgb(0, 0, 0);">(i)</font>&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman',Times,serif; font-weight: bold; color: rgb(0, 0, 0);">Financial instruments
                  valued at amortized cost</font></div>
              <div style="font-weight: normal;"><br>
              </div>
              <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-weight: normal;">The Group has the following financial instruments valued at amortized cost:</div>
            </div>
          </td>
        </tr>

    </table>
    <div> <br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-weight: normal; font-style: normal;" class="BRPFPageNumber">25</font></div>
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      <div style="width: 100%;" class="BRPFPageHeader"></div>
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    <div>
      <div style="color: rgb(0, 0, 0); font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">VTEX&#160;</div>
      <div style="color: rgb(0, 0, 0); font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">
        <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Notes to the condensed consolidated interim financial statements</div>
      </div>
      <div style="color: rgb(0, 0, 0); font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">(Unaudited)</div>
      <div style="color: rgb(0, 0, 0); font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">In thousands of U.S. dollars, unless otherwise indicated</div>
      <div style="color: rgb(0, 0, 0); font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">
        <hr noshade="noshade" align="left" style="height: 1pt; width: 100%; color: #000000; background-color: #000000; margin-left: 0px; margin-right: auto; border: none;"> </div>
    </div>
    <div> <br>
    </div>
    <div> <br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z02841efbd1d143fbb315d152d889918f" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

        <tr>
          <td style="width: 2%; vertical-align: bottom;" colspan="1">&#160;</td>
          <td style="width: 51.68%; vertical-align: bottom;">&#160;</td>
          <td style="width: 2.38%; vertical-align: bottom;">&#160;</td>
          <td style="width: 20.78%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div style="text-align: right; color: #000000; font-weight: bold;">September&#160;30,&#160;2023</div>
          </td>
          <td style="width: 2.38%; vertical-align: bottom;">&#160;</td>
          <td style="width: 20.77%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div style="text-align: right; color: #000000; font-weight: bold;">December&#160;31,&#160;2022</div>
          </td>
        </tr>
        <tr>
          <td style="width: 2%; vertical-align: middle;" colspan="1">&#160;</td>
          <td style="width: 51.68%; vertical-align: middle;">
            <div style="color: #000000; font-weight: bold;">Financial&#160;assets:</div>
          </td>
          <td style="width: 2.38%; vertical-align: middle;">&#160;</td>
          <td style="width: 20.78%; vertical-align: middle; border-top: #000000 2px solid;">&#160;</td>
          <td style="width: 2.38%; vertical-align: middle;">&#160;</td>
          <td style="width: 20.77%; vertical-align: middle; border-top: #000000 2px solid;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 2%; vertical-align: middle;" colspan="1">&#160;</td>
          <td style="width: 51.68%; vertical-align: middle; background-color: rgb(204, 238, 255);">
            <div style="color: #000000;">Cash&#160;and&#160;cash&#160;equivalents&#160;</div>
          </td>
          <td style="width: 2.38%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 20.78%; vertical-align: middle; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">21,301</div>
          </td>
          <td style="width: 2.38%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 20.77%; vertical-align: middle; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">24,394</div>
          </td>
        </tr>
        <tr>
          <td style="width: 2%; vertical-align: middle;" colspan="1">&#160;</td>
          <td style="width: 51.68%; vertical-align: middle;">
            <div style="color: #000000;">Restricted&#160;cash</div>
          </td>
          <td style="width: 2.38%; vertical-align: middle;">&#160;</td>
          <td style="width: 20.78%; vertical-align: middle;">
            <div style="text-align: right; color: #000000;">-</div>
          </td>
          <td style="width: 2.38%; vertical-align: middle;">&#160;</td>
          <td style="width: 20.77%; vertical-align: middle;">
            <div style="text-align: right; color: #000000;">1,608</div>
          </td>
        </tr>
        <tr>
          <td style="width: 2%; vertical-align: middle;" colspan="1">&#160;</td>
          <td style="width: 51.68%; vertical-align: middle; background-color: rgb(204, 238, 255);">
            <div style="color: #000000;">Short-term&#160;investments</div>
          </td>
          <td style="width: 2.38%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 20.78%; vertical-align: middle; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">96,946</div>
          </td>
          <td style="width: 2.38%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 20.77%; vertical-align: middle; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">10,119</div>
          </td>
        </tr>
        <tr>
          <td style="width: 2%; vertical-align: middle;" colspan="1">&#160;</td>
          <td style="width: 51.68%; vertical-align: middle;">
            <div style="color: #000000;">Trade&#160;receivables</div>
          </td>
          <td style="width: 2.38%; vertical-align: middle;">&#160;</td>
          <td style="width: 20.78%; vertical-align: middle;">
            <div style="text-align: right; color: #000000;">47,511</div>
          </td>
          <td style="width: 2.38%; vertical-align: middle;">&#160;</td>
          <td style="width: 20.77%; vertical-align: middle;">
            <div style="text-align: right; color: #000000;">42,276</div>
          </td>
        </tr>
        <tr>
          <td style="width: 2%; vertical-align: bottom;" colspan="1">&#160;</td>
          <td style="width: 51.68%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="color: #000000; font-weight: bold;">Total</div>
          </td>
          <td style="width: 2.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 20.78%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000; font-weight: bold;">165,758</div>
          </td>
          <td style="width: 2.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 20.77%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000; font-weight: bold;">78,397</div>
          </td>
        </tr>
        <tr>
          <td style="width: 2%; vertical-align: middle;" colspan="1">&#160;</td>
          <td style="width: 51.68%; vertical-align: middle;">&#160;</td>
          <td style="width: 2.38%; vertical-align: middle;">&#160;</td>
          <td style="width: 20.78%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td style="width: 2.38%; vertical-align: middle;">&#160;</td>
          <td style="width: 20.77%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
        </tr>
        <tr>
          <td style="width: 2%; vertical-align: middle;" colspan="1">&#160;</td>
          <td style="width: 51.68%; vertical-align: middle; background-color: rgb(204, 238, 255);">
            <div style="color: #000000; font-weight: bold;">Financial&#160;liabilities:</div>
          </td>
          <td style="width: 2.38%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 20.78%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 2.38%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 20.77%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
        </tr>
        <tr>
          <td style="width: 2%; vertical-align: middle;" colspan="1">&#160;</td>
          <td style="width: 51.68%; vertical-align: middle;">
            <div style="color: #000000;">Trade&#160;payables</div>
          </td>
          <td style="width: 2.38%; vertical-align: middle;">&#160;</td>
          <td style="width: 20.78%; vertical-align: middle;">
            <div style="text-align: right; color: #000000;">13,923</div>
          </td>
          <td style="width: 2.38%; vertical-align: middle;">&#160;</td>
          <td style="width: 20.77%; vertical-align: middle;">
            <div style="text-align: right; color: #000000;">14,064</div>
          </td>
        </tr>
        <tr>
          <td style="width: 2%; vertical-align: middle;" colspan="1">&#160;</td>
          <td style="width: 51.68%; vertical-align: middle; background-color: rgb(204, 238, 255);">
            <div style="color: #000000;">Lease&#160;liabilities</div>
          </td>
          <td style="width: 2.38%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 20.78%; vertical-align: middle; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">4,714</div>
          </td>
          <td style="width: 2.38%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 20.77%; vertical-align: middle; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">5,635</div>
          </td>
        </tr>
        <tr>
          <td style="width: 2%; vertical-align: middle;" colspan="1">&#160;</td>
          <td style="width: 51.68%; vertical-align: middle;">
            <div style="color: #000000;">Loans&#160;and&#160;financing</div>
          </td>
          <td style="width: 2.38%; vertical-align: middle;">&#160;</td>
          <td style="width: 20.78%; vertical-align: middle;">
            <div style="text-align: right; color: #000000;">-</div>
          </td>
          <td style="width: 2.38%; vertical-align: middle;">&#160;</td>
          <td style="width: 20.77%; vertical-align: middle;">
            <div style="text-align: right; color: #000000;">1,153</div>
          </td>
        </tr>
        <tr>
          <td style="width: 2%; vertical-align: bottom;" colspan="1">&#160;</td>
          <td style="width: 51.68%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="color: #000000; font-weight: bold;">Total</div>
          </td>
          <td style="width: 2.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 20.78%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000; font-weight: bold;">18,637</div>
          </td>
          <td style="width: 2.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 20.77%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000; font-weight: bold;">20,852</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;" id="34e0a9fbb4634e8aa956b5652a9177d6">

        <tr>
          <td style="width: 2%; font-size: 12pt; text-align: left; vertical-align: top;">&#160;</td>
          <td style="width: 98%; font-weight: bold; text-align: left; vertical-align: bottom;">
            <div>(ii)&#160;&#160;&#160; Financial instruments valued at fair value through profit or loss</div>
            <div> <br>
            </div>
            <div><font style="font-weight: normal;">The Group has the following financial instruments valued at fair value through profit or loss:</font> </div>
          </td>
        </tr>

    </table>
    <div style="color: #000000; font-weight: bold;"><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="zd4fd3f817ba3421fbaa952c3f3c2aefb" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

        <tr>
          <td style="width: 2%; vertical-align: bottom;" colspan="1">&#160;</td>
          <td style="width: 51.87%; vertical-align: bottom;">&#160;</td>
          <td style="width: 2.37%; vertical-align: bottom;">&#160;</td>
          <td style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" colspan="3">
            <div style="text-align: center; color: #000000; font-weight: bold;">Carrying&#160;amount</div>
          </td>
        </tr>
        <tr>
          <td style="width: 2%; vertical-align: bottom;" colspan="1">&#160;</td>
          <td style="width: 51.87%; vertical-align: bottom;">&#160;</td>
          <td style="width: 2.37%; vertical-align: bottom;">&#160;</td>
          <td style="width: 20.73%; vertical-align: middle; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div style="text-align: right; color: #000000; font-weight: bold;">September&#160;30,&#160;2023</div>
          </td>
          <td style="width: 2.32%; vertical-align: bottom; border-top: #000000 2px solid;">&#160;</td>
          <td style="width: 20.7%; vertical-align: bottom; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div style="text-align: right; color: #000000; font-weight: bold;">December&#160;31,&#160;2022</div>
          </td>
        </tr>
        <tr>
          <td style="width: 2%; vertical-align: middle;" colspan="1">&#160;</td>
          <td style="width: 51.87%; vertical-align: middle;">
            <div style="color: #000000; font-weight: bold;">Financial&#160;assets:</div>
          </td>
          <td style="width: 2.37%; vertical-align: middle;">&#160;</td>
          <td style="width: 20.73%; vertical-align: middle; border-top: #000000 2px solid;">&#160;</td>
          <td style="width: 2.32%; vertical-align: middle;">&#160;</td>
          <td style="width: 20.7%; vertical-align: middle; border-top: #000000 2px solid;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 2%; vertical-align: middle;" colspan="1">&#160;</td>
          <td style="width: 51.87%; vertical-align: middle; background-color: rgb(204, 238, 255);">
            <div style="color: #000000;">Short-term&#160;investments&#160;</div>
          </td>
          <td style="width: 2.37%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 20.73%; vertical-align: middle; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">95,459</div>
          </td>
          <td style="width: 2.32%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 20.7%; vertical-align: middle; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">204,045</div>
          </td>
        </tr>
        <tr>
          <td style="width: 2%; vertical-align: middle;" colspan="1">&#160;</td>
          <td style="width: 51.87%; vertical-align: middle;">
            <div style="color: #000000;">Derivative&#160;financial&#160;instruments&#160;(i)&#160;</div>
          </td>
          <td style="width: 2.37%; vertical-align: middle;">&#160;</td>
          <td style="width: 20.73%; vertical-align: middle;">
            <div style="text-align: right; color: #000000;">287</div>
          </td>
          <td style="width: 2.32%; vertical-align: middle;">&#160;</td>
          <td style="width: 20.7%; vertical-align: middle;">
            <div style="text-align: right; color: #000000;">117</div>
          </td>
        </tr>
        <tr>
          <td style="width: 2%; vertical-align: bottom;" colspan="1">&#160;</td>
          <td style="width: 51.87%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="color: #000000; font-weight: bold;">Total</div>
          </td>
          <td style="width: 2.37%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 20.73%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000; font-weight: bold;">95,746</div>
          </td>
          <td style="width: 2.32%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 20.7%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000; font-weight: bold;">204,162</div>
          </td>
        </tr>
        <tr>
          <td style="width: 2%; vertical-align: middle;" colspan="1">&#160;</td>
          <td style="width: 51.87%; vertical-align: middle;">&#160;</td>
          <td style="width: 2.37%; vertical-align: middle;">&#160;</td>
          <td style="width: 20.73%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td style="width: 2.32%; vertical-align: middle;">&#160;</td>
          <td style="width: 20.7%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
        </tr>
        <tr>
          <td style="width: 2%; vertical-align: bottom;" colspan="1">&#160;</td>
          <td style="width: 51.87%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 2.37%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="3">
            <div style="text-align: center; color: #000000; font-weight: bold;">Carrying&#160;amount</div>
          </td>
        </tr>
        <tr>
          <td style="width: 2%; vertical-align: bottom;" colspan="1">&#160;</td>
          <td style="width: 51.87%; vertical-align: bottom;">&#160;</td>
          <td style="width: 2.37%; vertical-align: bottom;">&#160;</td>
          <td style="width: 20.73%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: #000000; font-weight: bold;">September&#160;30,&#160;2023</div>
          </td>
          <td style="width: 2.32%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td style="width: 20.7%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: #000000; font-weight: bold;">December&#160;31,&#160;2022</div>
          </td>
        </tr>
        <tr>
          <td style="width: 2%; vertical-align: middle;" colspan="1">&#160;</td>
          <td style="width: 51.87%; vertical-align: middle; background-color: rgb(204, 238, 255);">
            <div style="color: #000000; font-weight: bold;">Financial&#160;liabilities:</div>
          </td>
          <td style="width: 2.37%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 20.73%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 2.32%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 20.7%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
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        <tr>
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          <td style="width: 20.73%; vertical-align: middle;">
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          <td style="width: 20.7%; vertical-align: middle;">
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            <div style="text-align: right; color: #000000; font-weight: bold;">-</div>
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            <div style="text-align: right; color: #000000; font-weight: bold;">299</div>
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        <tr>
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    <div><br>
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    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;" id="fe23f50784db44718c671cca7b50df26">

        <tr>
          <td style="width: 2%; font-size: 12pt; text-align: left; vertical-align: top;">&#160;</td>
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    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
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        <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Notes to the condensed consolidated interim financial statements</div>
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        <tr>
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          <td style="width: 98%; font-weight: normal; text-align: left; vertical-align: bottom;">The following amounts were recognized in profit or loss in relation to financial instruments:</td>
        </tr>

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    <table cellspacing="0" cellpadding="0" id="z8237405bef73480fb12f4698a353c164" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

        <tr>
          <td style="width: 2%; vertical-align: bottom;" colspan="1">&#160;</td>
          <td style="width: 39.7%; vertical-align: bottom;">&#160;</td>
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          <td style="width: 2.37%; vertical-align: bottom;">&#160;</td>
          <td style="vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);" colspan="3">
            <div style="text-align: center; color: #000000; font-weight: bold;">Nine&#160;months&#160;ended</div>
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        </tr>
        <tr>
          <td style="width: 2%; vertical-align: bottom;" colspan="1">&#160;</td>
          <td style="width: 39.7%; vertical-align: bottom;">&#160;</td>
          <td style="width: 12.78%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div style="text-align: right; color: #000000; font-weight: bold;">September</div>
            <div style="text-align: right; color: #000000; font-weight: bold;">30,&#160;2023</div>
          </td>
          <td style="width: 2.37%; vertical-align: bottom;">&#160;</td>
          <td style="width: 12.78%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div style="text-align: right; color: #000000; font-weight: bold;">September</div>
            <div style="text-align: right; color: #000000; font-weight: bold;">30,&#160;2022</div>
          </td>
          <td style="width: 2.37%; vertical-align: bottom;">&#160;</td>
          <td style="width: 12.78%; vertical-align: bottom; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div style="text-align: right; color: #000000; font-weight: bold;">September</div>
            <div style="text-align: right; color: #000000; font-weight: bold;">30,&#160;2023</div>
          </td>
          <td style="width: 2.43%; vertical-align: bottom; border-top: #000000 2px solid;">&#160;</td>
          <td style="width: 12.78%; vertical-align: bottom; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div style="text-align: right; color: #000000; font-weight: bold;">September</div>
            <div style="text-align: right; color: #000000; font-weight: bold;">30,&#160;2022</div>
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        </tr>
        <tr>
          <td style="width: 2%; vertical-align: middle;" colspan="1">&#160;</td>
          <td style="width: 39.7%; vertical-align: middle; background-color: rgb(204, 238, 255);">
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          <td style="width: 12.78%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">859</div>
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          <td style="width: 2.37%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 12.78%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
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          <td style="width: 2.37%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 12.78%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">943</div>
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          <td style="width: 2.43%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 12.78%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">1,816</div>
          </td>
        </tr>

    </table>
    <div style="text-align: justify; color: #000000;"> <br>
    </div>
    <div style="text-align: justify; color: #000000;"> <br>
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          <td style="width: 98%; font-weight: normal; text-align: left; vertical-align: bottom;">The following amounts were recognized in profit or loss in relation to short-term investments:</td>
        </tr>

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    <div style="text-align: justify; color: #000000;"><br>
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    <div><br>
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    <table cellspacing="0" cellpadding="0" id="z4c51ec1c63fd45109edaa056b2131c80" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

        <tr>
          <td style="width: 2%; vertical-align: bottom;" colspan="1">&#160;</td>
          <td style="width: 39.61%; vertical-align: bottom;">&#160;</td>
          <td style="vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);" colspan="3">
            <div style="text-align: center; color: #000000; font-weight: bold;">Three&#160;months&#160;ended&#160;</div>
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          <td style="width: 2.39%; vertical-align: bottom;">&#160;</td>
          <td style="vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);" colspan="3">
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        </tr>
        <tr>
          <td style="width: 2%; vertical-align: bottom;" colspan="1">&#160;</td>
          <td style="width: 39.61%; vertical-align: bottom;">&#160;</td>
          <td style="width: 12.79%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div style="text-align: right; color: #000000; font-weight: bold;">September</div>
            <div style="text-align: right; color: #000000; font-weight: bold;">30,&#160;2023</div>
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          <td style="width: 2.39%; vertical-align: bottom;">&#160;</td>
          <td style="width: 12.79%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div style="text-align: right; color: #000000; font-weight: bold;">September</div>
            <div style="text-align: right; color: #000000; font-weight: bold;">30,&#160;2022</div>
          </td>
          <td style="width: 2.39%; vertical-align: bottom;">&#160;</td>
          <td style="width: 12.79%; vertical-align: bottom; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div style="text-align: right; color: #000000; font-weight: bold;">September</div>
            <div style="text-align: right; color: #000000; font-weight: bold;">30,&#160;2023</div>
          </td>
          <td style="width: 2.44%; vertical-align: bottom; border-top: #000000 2px solid;">&#160;</td>
          <td style="width: 12.79%; vertical-align: bottom; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div style="text-align: right; color: #000000; font-weight: bold;">September</div>
            <div style="text-align: right; color: #000000; font-weight: bold;">30,&#160;2022</div>
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        </tr>
        <tr>
          <td style="width: 2%; vertical-align: middle;" colspan="1">&#160;</td>
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            <div style="text-align: right; color: #000000;">1,554</div>
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          <td style="width: 2.39%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
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          <td style="width: 2.39%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 12.79%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">6,928</div>
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          <td style="width: 2.44%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 12.79%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
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        </tr>

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    <div><br>
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    <div><font style="font-weight: bold; color: #000000;"> <br>
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    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;" id="8506de627ab749e09c711dc0258f81b3">

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          <td style="width: 2%; font-size: 12pt; text-align: left; vertical-align: top;">&#160;</td>
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            <div style="font-weight: bold;">a.&#160; Fair value hierarchy</div>
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              <div>This section provides details about the judgments and estimates made for determining the fair values of the financial instruments recognized and measured at fair value in the financial statements. The Group has classified its financial
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          </td>
        </tr>

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          <td style="width: 2%; vertical-align: bottom;" colspan="1">&#160;</td>
          <td style="width: 52.27%; vertical-align: bottom;">&#160;</td>
          <td style="width: 2.55%; vertical-align: bottom;">&#160;</td>
          <td style="vertical-align: bottom;" colspan="5">
            <div style="text-align: center; color: #000000; font-weight: bold;">September&#160;30,&#160;2023</div>
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        <tr>
          <td style="width: 2%; vertical-align: bottom;" colspan="1">&#160;</td>
          <td style="width: 52.27%; vertical-align: bottom;">&#160;</td>
          <td style="width: 2.55%; vertical-align: bottom;">&#160;</td>
          <td style="width: 12.67%; vertical-align: bottom; border-top: #000000 2px solid;">
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          <td style="width: 2.59%; vertical-align: bottom; border-top: #000000 2px solid;">&#160;</td>
          <td style="width: 12.67%; vertical-align: bottom; border-top: #000000 2px solid;">
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          <td style="width: 12.67%; vertical-align: bottom; border-top: #000000 2px solid;">
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        <tr>
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          <td style="width: 2.55%; vertical-align: middle;">&#160;</td>
          <td style="width: 12.67%; vertical-align: middle;">&#160;</td>
          <td style="width: 2.59%; vertical-align: middle;">&#160;</td>
          <td style="width: 12.67%; vertical-align: middle;">&#160;</td>
          <td style="width: 2.59%; vertical-align: middle;">&#160;</td>
          <td style="width: 12.67%; vertical-align: middle;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 2%; vertical-align: middle;" colspan="1">&#160;</td>
          <td style="width: 52.27%; vertical-align: middle; background-color: rgb(204, 238, 255);">
            <div style="color: #000000;">Short-term&#160;investments</div>
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          <td style="width: 2.55%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 12.67%; vertical-align: middle; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">95,459</div>
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          <td style="width: 2.59%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 12.67%; vertical-align: middle; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">-</div>
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          <td style="width: 2.59%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 12.67%; vertical-align: middle; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">-</div>
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        <tr>
          <td style="width: 2%; vertical-align: middle;" colspan="1">&#160;</td>
          <td style="width: 52.27%; vertical-align: middle;">
            <div style="color: #000000;">Derivative&#160;financial&#160;instruments</div>
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          <td style="width: 2.55%; vertical-align: middle;">&#160;</td>
          <td style="width: 12.67%; vertical-align: middle;">
            <div style="text-align: right; color: #000000;">-</div>
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          <td style="width: 12.67%; vertical-align: middle;">
            <div style="text-align: right; color: #000000;">287</div>
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          <td style="width: 2.59%; vertical-align: middle;">&#160;</td>
          <td style="width: 12.67%; vertical-align: middle;">
            <div style="text-align: right; color: #000000;">-</div>
          </td>
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    <table cellspacing="0" cellpadding="0" id="z53887138e1c74c1191a41398af4791eb" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

        <tr>
          <td style="width: 2%; vertical-align: bottom;" colspan="1">&#160;</td>
          <td style="width: 52.43%; vertical-align: bottom;">&#160;</td>
          <td style="width: 2.58%; vertical-align: bottom;">&#160;</td>
          <td style="vertical-align: bottom;" colspan="5">
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        <tr>
          <td style="width: 2%; vertical-align: bottom;" colspan="1">&#160;</td>
          <td style="width: 52.43%; vertical-align: bottom;">&#160;</td>
          <td style="width: 2.58%; vertical-align: bottom;">&#160;</td>
          <td style="width: 12.63%; vertical-align: bottom; border-top: #000000 2px solid;">
            <div style="text-align: center; color: #000000; font-weight: bold;">Level&#160;1</div>
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          <td style="width: 2.57%; vertical-align: bottom; border-top: #000000 2px solid;">&#160;</td>
          <td style="width: 12.62%; vertical-align: bottom; border-top: #000000 2px solid;">
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          <td style="width: 2.57%; vertical-align: bottom; border-top: #000000 2px solid;">&#160;</td>
          <td style="width: 12.62%; vertical-align: bottom; border-top: #000000 2px solid;">
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          <td style="width: 2%; vertical-align: middle;" colspan="1">&#160;</td>
          <td style="width: 52.43%; vertical-align: middle;">
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          <td style="width: 2.58%; vertical-align: middle;">&#160;</td>
          <td style="width: 12.63%; vertical-align: middle;">&#160;</td>
          <td style="width: 2.57%; vertical-align: middle;">&#160;</td>
          <td style="width: 12.62%; vertical-align: middle;">&#160;</td>
          <td style="width: 2.57%; vertical-align: middle;">&#160;</td>
          <td style="width: 12.62%; vertical-align: middle;">&#160;</td>
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        <tr>
          <td style="width: 2%; vertical-align: middle;" colspan="1">&#160;</td>
          <td style="width: 52.43%; vertical-align: middle; background-color: rgb(204, 238, 255);">
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          <td style="width: 2.58%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
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          <td style="width: 12.62%; vertical-align: middle; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">-</div>
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          <td style="width: 12.62%; vertical-align: middle; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">-</div>
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        <tr>
          <td style="width: 2%; vertical-align: middle;" colspan="1">&#160;</td>
          <td style="width: 52.43%; vertical-align: middle;">
            <div style="color: #000000;">Derivative&#160;financial&#160;instruments</div>
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          <td style="width: 2.58%; vertical-align: middle;">&#160;</td>
          <td style="width: 12.63%; vertical-align: middle;">
            <div style="text-align: right; color: #000000;">-</div>
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          <td style="width: 2.57%; vertical-align: middle;">&#160;</td>
          <td style="width: 12.62%; vertical-align: middle;">
            <div style="text-align: right; color: #000000;">117</div>
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          <td style="width: 2.57%; vertical-align: middle;">&#160;</td>
          <td style="width: 12.62%; vertical-align: middle;">
            <div style="text-align: right; color: #000000;">-</div>
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        <tr>
          <td style="width: 2%; vertical-align: middle;" colspan="1" rowspan="1">&#160;</td>
          <td style="width: 52.43%; vertical-align: middle;" rowspan="1">&#160;</td>
          <td style="width: 2.58%; vertical-align: middle;" rowspan="1">&#160;</td>
          <td style="width: 12.63%; vertical-align: middle;" rowspan="1">&#160;</td>
          <td style="width: 2.57%; vertical-align: middle;" rowspan="1">&#160;</td>
          <td style="width: 12.62%; vertical-align: middle;" rowspan="1">&#160;</td>
          <td style="width: 2.57%; vertical-align: middle;" rowspan="1">&#160;</td>
          <td style="width: 12.62%; vertical-align: middle;" rowspan="1">&#160;</td>
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        <tr>
          <td style="width: 2%; vertical-align: middle;" colspan="1">&#160;</td>
          <td style="width: 52.43%; vertical-align: middle;">
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          <td style="width: 2.58%; vertical-align: middle;">&#160;</td>
          <td style="width: 12.63%; vertical-align: middle;">&#160;</td>
          <td style="width: 2.57%; vertical-align: middle;">&#160;</td>
          <td style="width: 12.62%; vertical-align: middle;">&#160;</td>
          <td style="width: 2.57%; vertical-align: middle;">&#160;</td>
          <td style="width: 12.62%; vertical-align: middle;">&#160;</td>
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        <tr>
          <td style="width: 2%; vertical-align: middle;" colspan="1">&#160;</td>
          <td style="width: 52.43%; vertical-align: middle; background-color: rgb(204, 238, 255);">
            <div style="color: #000000;">Accounts&#160;payable&#160;from&#160;acquisition&#160;of&#160;subsidiary</div>
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          <td style="width: 2.58%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 12.63%; vertical-align: middle; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">-</div>
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          <td style="width: 2.57%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 12.62%; vertical-align: middle; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">-</div>
          </td>
          <td style="width: 2.57%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 12.62%; vertical-align: middle; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">299</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: justify;"><font style="color: #000000;"> <br>
      </font></div>
    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;" id="26f91e21f7b1422abb7b86c2c3ac6f50">

        <tr>
          <td style="width: 2%; font-size: 12pt; text-align: left; vertical-align: top;">&#160;</td>
          <td style="width: 98%; font-weight: normal; text-align: left; vertical-align: bottom; font-size: 12pt;">
            <div style="text-align: justify; font-size: 10pt;"><font style="color: #000000;">There were no transfers between levels 1, 2, and 3 for recurring fair value measurements during the </font>first nine months<font style="color: #000000;"> of
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          </td>
        </tr>

    </table>
    <div> <br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-weight: normal; font-style: normal;" class="BRPFPageNumber">27</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      <div style="width: 100%;" class="BRPFPageHeader"></div>
    </div>
    <div style="text-align: justify; color: #000000; font-style: italic;">
      <div style="color: rgb(0, 0, 0); font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">VTEX&#160;</div>
      <div style="color: rgb(0, 0, 0); font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">
        <div style="text-align: left; color: #000000; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Notes to the condensed consolidated interim financial statements</div>
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      <div style="color: rgb(0, 0, 0); font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">(Unaudited)</div>
      <div style="color: rgb(0, 0, 0); font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">In thousands of U.S. dollars, unless otherwise indicated</div>
      <div style="color: rgb(0, 0, 0); font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">
        <hr noshade="noshade" align="left" style="height: 1pt; width: 100%; color: #000000; background-color: #000000; text-align: left; margin-left: 0px; margin-right: auto; border: none;"> </div>
    </div>
    <div style="text-align: justify; color: #000000; font-style: italic;"> <br>
    </div>
    <font style="font-style: normal;"> </font>
    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;" id="b98a7db3bafc4ee3a55643a1cde51732">

        <tr>
          <td style="width: 2%; font-size: 12pt; text-align: left; vertical-align: top;">&#160;</td>
          <td style="width: 98%; font-weight: normal; text-align: left; vertical-align: bottom; font-size: 12pt;">
            <div style="text-align: justify; color: #000000; font-size: 10pt; font-style: italic;"> Fair value measurements using significant unobservable inputs (level 3)</div>
            <div style="text-align: justify; color: #000000; font-size: 10pt; font-style: italic;"> <br>
            </div>
            <div style="text-align: justify; color: #000000; font-size: 10pt; font-style: italic;">
              <div><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0); font-style: normal;">The fair value of the earn-out classified as level 3 is calculated based on the judgment of the Group and the probability of meeting the
                  goals of each acquisition made during the year. The Sale and Purchase agreement of each acquisition is established if the clients of the acquired entities migrate to the Groups platform and reach an agreed amount, the seller will be
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              <div style="font-style: normal;"><br>
              </div>
              <div style="font-family: 'Times New Roman',Times,serif; font-style: normal;">The following table presents changes in level 3 items for the nine-months period ended on September 30, 2023:</div>
            </div>
          </td>
        </tr>

    </table>
    <div style="text-align: justify; color: #000000; font-style: italic;"><font style="font-style: normal;"> </font><br>
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    <div style="text-align: justify; color: #000000; font-style: italic;"></div>
    <table cellspacing="0" cellpadding="0" id="z554df6549e284a7ab02febe23e4e0280" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

        <tr>
          <td style="width: 2%; vertical-align: bottom;" colspan="1">&#160;</td>
          <td style="width: 68.03%; vertical-align: bottom;">&#160;</td>
          <td style="width: 3.11%; vertical-align: bottom;">&#160;</td>
          <td style="width: 26.86%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div style="text-align: right; color: #000000; font-weight: bold;">2023</div>
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        </tr>
        <tr>
          <td style="width: 2%; vertical-align: middle;" colspan="1">&#160;</td>
          <td style="width: 68.03%; vertical-align: middle; background-color: rgb(204, 238, 255);">
            <div style="color: #000000; font-weight: bold;">Opening&#160;balance&#160;on&#160;January&#160;1</div>
          </td>
          <td style="width: 3.11%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 26.86%; vertical-align: middle; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000; font-weight: bold;">299</div>
          </td>
        </tr>
        <tr>
          <td style="width: 2%; vertical-align: middle;" colspan="1">&#160;</td>
          <td style="width: 68.03%; vertical-align: middle;">
            <div style="color: #000000;">Earn-out&#160;adjustment</div>
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          <td style="width: 3.11%; vertical-align: middle;">&#160;</td>
          <td style="width: 26.86%; vertical-align: middle;">
            <div style="text-align: right; color: #000000;">(299)</div>
          </td>
        </tr>
        <tr>
          <td style="width: 2%; vertical-align: middle;" colspan="1">&#160;</td>
          <td style="width: 68.03%; vertical-align: middle; background-color: rgb(204, 238, 255);">
            <div style="color: #000000;">Exchange&#160;differences</div>
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          <td style="width: 3.11%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 26.86%; vertical-align: middle; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">-</div>
          </td>
        </tr>
        <tr>
          <td style="width: 2%; vertical-align: middle;" colspan="1">&#160;</td>
          <td style="width: 68.03%; vertical-align: middle;">
            <div style="color: #000000; font-weight: bold;">Closing&#160;balance&#160;on&#160;September&#160;30</div>
          </td>
          <td style="width: 3.11%; vertical-align: middle;">&#160;</td>
          <td style="width: 26.86%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: #000000; font-weight: bold;">-</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div><br>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="za68072b1ce034345b8a412417c1e405c" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 14.2pt; vertical-align: top; text-align: right;"><br>
            </td>
            <td style="width: auto; vertical-align: bottom;">
              <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-weight: bold;">b.&#160; Fair values of other financial instruments (unrecognized)</div>
              <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-weight: bold;"> <br>
              </div>
              <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-weight: bold;">
                <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0); font-weight: normal;">The </font><font style="font-family: 'Times New Roman',Times,serif; font-weight: normal;">G</font><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0); font-weight: normal;">roup also has </font><font style="font-family: 'Times New Roman',Times,serif; font-weight: normal;">several</font><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0); font-weight: normal;"> financial instruments which are not measured at fair value in the balance sheet. As </font><font style="font-family: 'Times New Roman',Times,serif; font-weight: normal;">at September 30, 2023</font><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0); font-weight: normal;">, </font><font style="font-family: 'Times New Roman',Times,serif; font-weight: normal;">these instruments&#8217; fair values are not different from</font><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0); font-weight: normal;"> their carrying amounts
                    since the interest receivable/payable is either close to current market rates or the instruments are short-term in nature. Differences were identified for the following instruments at </font><font style="font-family: 'Times New Roman',Times,serif; font-weight: normal;">September 30, 2023</font><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0); font-weight: normal;">:</font></div>
              </div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="za56c8c7909e24ad8bc027b751c56ae00" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

        <tr>
          <td nowrap="nowrap" style="width: 2%; vertical-align: bottom;" colspan="1">&#160;</td>
          <td nowrap="nowrap" style="width: 45.9%; vertical-align: bottom;">&#160;</td>
          <td nowrap="nowrap" style="vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);" colspan="3">
            <div style="text-align: center; color: #000000; font-weight: bold;">September 30, 2023</div>
          </td>
          <td nowrap="nowrap" style="width: 1.95%; vertical-align: bottom;">&#160;</td>
          <td nowrap="nowrap" style="vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);" colspan="3">
            <div style="text-align: center; color: #000000; font-weight: bold;">December 30, 2022</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 2%; vertical-align: middle;" colspan="1">&#160;</td>
          <td nowrap="nowrap" style="width: 45.9%; vertical-align: middle;">&#160;</td>
          <td style="width: 11.56%; vertical-align: middle; border-bottom: #000000 2px solid;">
            <div style="text-align: right; color: #000000; font-weight: bold;">Carrying amount</div>
          </td>
          <td nowrap="nowrap" style="width: 1.94%; vertical-align: middle;">&#160;</td>
          <td nowrap="nowrap" style="width: 11.57%; vertical-align: middle; border-bottom: #000000 2px solid;">
            <div style="text-align: right; color: #000000; font-weight: bold;">Fair value</div>
          </td>
          <td nowrap="nowrap" style="width: 1.95%; vertical-align: middle;">&#160;</td>
          <td style="width: 11.57%; vertical-align: middle; border-bottom: #000000 2px solid;">
            <div style="text-align: right; color: #000000; font-weight: bold;">Carrying amount</div>
          </td>
          <td nowrap="nowrap" style="width: 1.95%; vertical-align: middle;">&#160;</td>
          <td nowrap="nowrap" style="width: 11.57%; vertical-align: middle; border-bottom: #000000 2px solid;">
            <div style="text-align: right; color: #000000; font-weight: bold;">Fair value</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 2%; vertical-align: middle;" colspan="1">&#160;</td>
          <td nowrap="nowrap" style="width: 45.9%; vertical-align: middle;">
            <div style="color: #000000; font-weight: bold;">Financial assets:</div>
          </td>
          <td nowrap="nowrap" style="width: 11.56%; vertical-align: middle;">&#160;</td>
          <td nowrap="nowrap" style="width: 1.94%; vertical-align: middle;">&#160;</td>
          <td nowrap="nowrap" style="width: 11.57%; vertical-align: middle;">&#160;</td>
          <td nowrap="nowrap" style="width: 1.95%; vertical-align: middle;">&#160;</td>
          <td nowrap="nowrap" style="width: 11.57%; vertical-align: middle;">&#160;</td>
          <td nowrap="nowrap" style="width: 1.95%; vertical-align: middle;">&#160;</td>
          <td nowrap="nowrap" style="width: 11.57%; vertical-align: middle;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 2%; vertical-align: middle;" colspan="1">&#160;</td>
          <td style="width: 45.9%; vertical-align: middle; background-color: rgb(204, 238, 255);">
            <div style="color: #000000;">Short-term investments</div>
          </td>
          <td nowrap="nowrap" style="width: 11.56%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">18,312&#160;</div>
          </td>
          <td nowrap="nowrap" style="width: 1.94%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td nowrap="nowrap" style="width: 11.57%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">17,190&#160;</div>
          </td>
          <td nowrap="nowrap" style="width: 1.95%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td nowrap="nowrap" style="width: 11.57%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">10,119&#160;</div>
          </td>
          <td nowrap="nowrap" style="width: 1.95%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td nowrap="nowrap" style="width: 11.57%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">9,948&#160;</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 2%; vertical-align: bottom;" colspan="1">&#160;</td>
          <td nowrap="nowrap" style="width: 45.9%; vertical-align: bottom;">
            <div style="color: #000000; font-weight: bold;">Total</div>
          </td>
          <td nowrap="nowrap" style="width: 11.56%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: #000000; font-weight: bold;">18,312&#160;</div>
          </td>
          <td nowrap="nowrap" style="width: 1.94%; vertical-align: bottom;">&#160;</td>
          <td nowrap="nowrap" style="width: 11.57%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: #000000; font-weight: bold;">17,190&#160;</div>
          </td>
          <td nowrap="nowrap" style="width: 1.95%; vertical-align: bottom;">&#160;</td>
          <td nowrap="nowrap" style="width: 11.57%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: #000000; font-weight: bold;">10,119&#160;</div>
          </td>
          <td nowrap="nowrap" style="width: 1.95%; vertical-align: bottom;">&#160;</td>
          <td nowrap="nowrap" style="width: 11.57%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: #000000; font-weight: bold;">9,948&#160;</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 2%; vertical-align: bottom;" colspan="1">&#160;</td>
          <td nowrap="nowrap" style="width: 45.9%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td nowrap="nowrap" style="width: 11.56%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td nowrap="nowrap" style="width: 1.94%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td nowrap="nowrap" style="width: 11.57%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td nowrap="nowrap" style="width: 1.95%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td nowrap="nowrap" style="width: 11.57%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td nowrap="nowrap" style="width: 1.95%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td nowrap="nowrap" style="width: 11.57%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 2%; vertical-align: middle;" colspan="1">&#160;</td>
          <td nowrap="nowrap" style="width: 45.9%; vertical-align: middle;">
            <div style="color: #000000; font-weight: bold;">Financial liabilities:</div>
          </td>
          <td nowrap="nowrap" style="width: 11.56%; vertical-align: bottom;">&#160;</td>
          <td nowrap="nowrap" style="width: 1.94%; vertical-align: bottom;">&#160;</td>
          <td nowrap="nowrap" style="width: 11.57%; vertical-align: bottom;">&#160;</td>
          <td nowrap="nowrap" style="width: 1.95%; vertical-align: bottom;">&#160;</td>
          <td nowrap="nowrap" style="width: 11.57%; vertical-align: bottom;">&#160;</td>
          <td nowrap="nowrap" style="width: 1.95%; vertical-align: bottom;">&#160;</td>
          <td nowrap="nowrap" style="width: 11.57%; vertical-align: bottom;">&#160;</td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 2%; vertical-align: bottom;" colspan="1">&#160;</td>
          <td nowrap="nowrap" style="width: 45.9%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="color: #000000;">Loans and financing</div>
          </td>
          <td nowrap="nowrap" style="width: 11.56%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">-&#160;&#160;&#160;</div>
          </td>
          <td nowrap="nowrap" style="width: 1.94%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td nowrap="nowrap" style="width: 11.57%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">-&#160;&#160;&#160;</div>
          </td>
          <td nowrap="nowrap" style="width: 1.95%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td nowrap="nowrap" style="width: 11.57%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">1,153&#160;</div>
          </td>
          <td nowrap="nowrap" style="width: 1.95%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td nowrap="nowrap" style="width: 11.57%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">990&#160;</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 2%; vertical-align: bottom;" colspan="1">&#160;</td>
          <td nowrap="nowrap" style="width: 45.9%; vertical-align: bottom;">
            <div style="color: #000000; font-weight: bold;">Total</div>
          </td>
          <td nowrap="nowrap" style="width: 11.56%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: #000000; font-weight: bold;">-&#160;&#160;&#160;</div>
          </td>
          <td nowrap="nowrap" style="width: 1.94%; vertical-align: bottom;">&#160;</td>
          <td nowrap="nowrap" style="width: 11.57%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: #000000; font-weight: bold;">-&#160;&#160;&#160;</div>
          </td>
          <td nowrap="nowrap" style="width: 1.95%; vertical-align: bottom;">&#160;</td>
          <td nowrap="nowrap" style="width: 11.57%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: #000000; font-weight: bold;">1,153&#160;</div>
          </td>
          <td nowrap="nowrap" style="width: 1.95%; vertical-align: bottom;">&#160;</td>
          <td nowrap="nowrap" style="width: 11.57%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; color: #000000; font-weight: bold;">990&#160;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;" id="99bfaa6f951740d89685f3e01f6fe5ee">

        <tr>
          <td style="width: 2%; font-size: 12pt; text-align: left; vertical-align: top;">&#160;</td>
          <td style="width: 98%; font-weight: normal; text-align: left; vertical-align: bottom; font-size: 12pt;">
            <div><font style="font-size: 10pt; font-weight: bold;">19.2&#160; Financial risk management</font></div>
            <div><font style="font-size: 10pt; font-weight: bold;"> <br>
              </font></div>
            <div>
              <div style="text-align: justify; font-size: 10pt;"><font style="color: #000000;">The risk management of the Group is predominantly controlled by a central treasury department (Group treasury) under policies approved by the board of directors.
                  Group treasury identifies, evaluates, and hedges financial risks in close co-operation with the Group&#8217;s operating units. The board provides written principles for overall risk management </font>and<font style="color: #000000;"> policies
                  covering specific areas, such as foreign exchange risk, interest rate risk, credit risk, the use of </font>derivatives<font style="color: #000000;"> and non-derivative financial instruments, and investment of excess liquidity.</font></div>
              <font style="font-size: 10pt; font-weight: bold;"> </font></div>
          </td>
        </tr>

    </table>
    <div> <br>
    </div>
    <div></div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-weight: normal; font-style: normal;" class="BRPFPageNumber">28</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      <div style="width: 100%;" class="BRPFPageHeader"></div>
    </div>
    <div style="text-align: justify;">
      <div style="color: rgb(0, 0, 0); font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">VTEX&#160;</div>
      <div style="color: rgb(0, 0, 0); font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">
        <div style="text-align: left; color: #000000; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Notes to the condensed consolidated interim financial statements</div>
      </div>
      <div style="color: rgb(0, 0, 0); font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">(Unaudited)</div>
      <div style="color: rgb(0, 0, 0); font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">In thousands of U.S. dollars, unless otherwise indicated</div>
      <div style="color: rgb(0, 0, 0); font-size: 8pt; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; letter-spacing: normal; text-indent: 0px; text-transform: none; word-spacing: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-family: 'Times New Roman',Times,serif; font-weight: bold;">
        <hr noshade="noshade" align="left" style="height: 1pt; width: 100%; color: #000000; background-color: #000000; text-align: left; margin-left: 0px; margin-right: auto; border: none;"> </div>
      <font style="color: #000000;"></font></div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;" id="8056811bf4a14bd2bb9d7b8ed7e35b65">

        <tr>
          <td style="width: 2%; font-size: 12pt; text-align: left; vertical-align: top; font-weight: bold;">20</td>
          <td style="width: 98%; font-weight: bold; text-align: left; vertical-align: bottom; font-size: 12pt;">
            <div>Subsequent events</div>
            <div> <br>
            </div>
            <div>
              <div style="font-size: 10pt; font-weight: bold;">Subsequent share repurchase and canceling</div>
              <div><br>
              </div>
              <div style="text-align: justify; font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-weight: normal;">During October and November of 2023, the Company canceled 1,165,669 Class A common shares, of which 79,829 shares were held in
                treasury as of September 30, 2023, and 1,085,840 were repurchased after September 30, 2023 under the repurchase share program.</div>
            </div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <br>
    <br>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-weight: normal; font-style: normal;" class="BRPFPageNumber">29</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      <div style="width: 100%;" class="BRPFPageHeader"></div>
    </div>
    <div><br>
    </div>
    <div style="text-align: justify; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: bold;">Item 2 &#8211; Management&#8217;s discussion and analysis of financial condition and results of operations</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; font-style: italic;">This Management's Discussion and Analysis of Financial Condition and Results of Operations section may contain certain forward-looking statements that involve risks and
      uncertainties. Our actual results and the timing of events may differ significantly from those expressed or implied in such forward-looking statements for several reasons, including those described in our prior filings with the U.S. Securities and
      Exchange Commission.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; font-style: italic;">The following analysis and discussion of our financial condition and results of operations should be read in conjunction with our unaudited condensed consolidated interim
      financial statements as of September 30, 2023 and 2022 included elsewhere in this document.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; font-weight: bold;">Overview</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;">VTEX <font style="color: #000000;">is the global enterprise digital commerce platform where brands and retailers run their world of commerce</font>. Our platform is designed to be the operating
      system for the commerce ecosystem, enabling enterprise brands and retailers to orchestrate their complex network of consumers, business partners, suppliers, and fulfillment providers in one place. VTEX puts its customers&#8217; business on a fast path to
      growth with a complete Commerce, Marketplace, and OMS solution. <font style="color: #000000;">We help global companies build, manage and deliver native and advanced B2B, B2C, and marketplace commerce experiences with unprecedented time to market and
        without complexity.</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; color: #000000;">We are redefining the boundaries between digital and physical commerce, empowering personal shoppers, and fostering seamless interactions across both realms. Our aim is to boost our
      customers' conversion and efficiency rates in their commerce operations. Through VTEX, enterprises can easily build online stores, integrate and manage orders across multiple channels, create marketplaces to sell third-party vendors' products, and
      optimize their product delivery process, among many other capabilities.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; color: #000000;">With over 20 years of experience in digital commerce, VTEX has been a leader in accelerating the digital commerce transformation in Latin America and is expanding globally. Our
      platform is engineered to enterprise-level standards and functionality with approximately 85% of our GMV coming from large, blue-chip companies (i.e. customers with more than US$10 million of GMV per year). We are trusted by more than 2,600 customers
      with over 3,400 active online stores across 38 countries to connect with their consumers in a meaningful way.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; color: #000000;">We benefit from the acceleration of digitalization globally, and in particular in Latin America, where ecommerce is still underpenetrated. Accelerating ecommerce growth, evolving
      consumer expectations and the proliferation of digital shopping alternatives are raising the bar for brands and retailers to stay relevant. Legacy structures developed over years force enterprises to choose between deep customization and speed to
      market. Our technology combined with our ecosystem of partners solves this problem. We deliver flexibility and simplicity to complex, mission critical commerce operations. We were named a leader in the IDC MarketScape: Worldwide B2C Digital Commerce
      Platforms 2020 Vendor Assessment. We were also recognized as Visionary in the 2023 Gartner Magic Quadrant&#8482; for Digital Commerce for VTEX&#8217;s Ability to Execute and Completeness of Vision, August 2023 report, and top-rated digital commerce platform at
      Gartner Peer Insights &#8216;Voice of the Customer&#8217;: Digital Commerce. Additionally, we were named a &#8220;Contender&#8221; in The Forrester Wave&#8482;: B2C Commerce Solutions and VTEX was awarded medals in all 24 categories of the &#8220;2023 Paradigm B2B Combine: Enterprise
      and Midmarket Editions&#8221;.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;">We offer access to our platform on a subscription basis, which accounted for 93.9% of our revenue for the three-month period ended September 30, 2023, compared to 94.2% of our revenue in the same
      period of 2022. Our subscription revenue is based on a fixed subscription fee and a transaction-based fee. The transaction-based fee accounts for most of our subscription revenues and is primarily structured as a take rate or percentage of the total
      value of the orders processed through our platform, including value added taxes and shipping, which we refer to as our GMV. Our transaction-based fee model aligns our success with our customers&#8217; success and our revenue grows as our customers&#8217; GMV
      grows. In the three-month period ended September 30, 2023, our GMV increased to US$4.0 billion from US$3.0 billion in the same period of 2022, representing an increase of 35.2% in USD and 27.8% on an FX neutral basis. In the same period, our revenue
      increased to US$50.6 million from US$38.8 million, representing an increase of 30.6% in USD and 24.5% on an FX neutral basis.</div>
    <div style="text-align: justify; text-indent: 36pt;"> <br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-weight: normal; font-style: normal;" class="BRPFPageNumber">30</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      <div style="width: 100%;" class="BRPFPageHeader"></div>
    </div>
    <div>&#160;</div>
    <div style="text-align: justify; font-weight: bold;">Key metric&#8212; Gross merchandise value</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;">The key metric we use to measure our performance, identify trends affecting our business, formulate our business plan projections and support our strategic decisions is GMV. Due to the seasonality of
      ecommerce and the foreign exchange effects resulting from the volatility of the currencies of the jurisdictions where we operate (particularly Latin America countries) vis-&#224;-vis the U.S. Dollar (which is our functional currency), our management
      compares GMV on a year-over-year and foreign exchange neutral basis. The foreign exchange neutral measures are calculated by using the average monthly exchange rates for each month during the previous year, adjusted by inflation in countries with
      hyper-inflation, and applying them to the corresponding months of the current year, so as to calculate what our results would have been had exchange rates remained stable from one year to the next.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;">GMV is the total value of customer orders processed through our platform, including value added taxes and shipping. Our GMV does not include the value of orders processed by our SMB customers or B2B
      transactions. Due to our transaction-based subscription model, we believe that GMV growth is linked with our revenue growth and we track GMV as an indicator of the success of our customers, the performance of the platform and our market share.</div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" border="0" id="ze6460c4fdcba4a7eaa9475b16d13f42c" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

        <tr>
          <td style="width: 44%; vertical-align: middle;">&#160;</td>
          <td style="width: 1.66%; vertical-align: middle;">&#160;</td>
          <td style="vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);" colspan="3">
            <div style="text-align: center; color: #000000; font-weight: bold;">Three months ended</div>
          </td>
          <td style="width: 1.66%; vertical-align: middle;">&#160;</td>
          <td style="vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);" colspan="3">
            <div style="text-align: center; color: #000000; font-weight: bold;">Nine months ended</div>
          </td>
        </tr>
        <tr>
          <td style="width: 44%; vertical-align: middle;">&#160;</td>
          <td style="width: 1.66%; vertical-align: middle;">&#160;</td>
          <td style="width: 12%; vertical-align: middle;">
            <div style="text-align: right; color: #000000; font-weight: bold;">September 30, 2023</div>
          </td>
          <td style="width: 1.66%; vertical-align: middle;">&#160;</td>
          <td style="width: 11.88%; vertical-align: middle;">
            <div style="text-align: right; color: #000000; font-weight: bold;">September 30, 2022</div>
          </td>
          <td style="width: 1.66%; vertical-align: middle;">&#160;</td>
          <td style="width: 12%; vertical-align: middle;">
            <div style="text-align: right; color: #000000; font-weight: bold;">September 30, 2023</div>
          </td>
          <td style="width: 1.66%; vertical-align: middle;">&#160;</td>
          <td style="width: 11.88%; vertical-align: middle;">
            <div style="text-align: right; color: #000000; font-weight: bold;">September 30, 2022</div>
          </td>
        </tr>
        <tr>
          <td style="width: 44%; vertical-align: middle;">&#160;</td>
          <td style="width: 1.66%; vertical-align: middle;">&#160;</td>
          <td style="vertical-align: middle;" colspan="7">
            <div style="text-align: center; color: #000000; font-size: 8pt; font-style: italic;">(in millions of U.S. Dollars, unless otherwise indicated)</div>
          </td>
        </tr>
        <tr>
          <td style="width: 44%; vertical-align: middle; background-color: rgb(204, 238, 255);">
            <div style="color: #000000;">GMV</div>
          </td>
          <td style="width: 1.66%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 12%; vertical-align: middle; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">3,999.3</div>
          </td>
          <td style="width: 1.66%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 11.88%; vertical-align: middle; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">2,957.5</div>
          </td>
          <td style="width: 1.66%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 12%; vertical-align: middle; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">11,141.5</div>
          </td>
          <td style="width: 1.66%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
          <td style="width: 11.88%; vertical-align: middle; background-color: rgb(204, 238, 255);">
            <div style="text-align: right; color: #000000;">8,783.9</div>
          </td>
        </tr>
        <tr>
          <td style="width: 44%; vertical-align: middle;">
            <div style="color: #000000;">GMV growth FX neutral (%)</div>
          </td>
          <td style="width: 1.66%; vertical-align: middle;">&#160;</td>
          <td style="width: 12%; vertical-align: middle;">
            <div style="text-align: right; color: #000000;">27.8%</div>
          </td>
          <td style="width: 1.66%; vertical-align: middle;">&#160;</td>
          <td style="width: 11.88%; vertical-align: middle;">
            <div style="text-align: right; color: #000000;">28.7%</div>
          </td>
          <td style="width: 1.66%; vertical-align: middle;">&#160;</td>
          <td style="width: 12%; vertical-align: middle;">
            <div style="text-align: right; color: #000000;">23.2%</div>
          </td>
          <td style="width: 1.66%; vertical-align: middle;">&#160;</td>
          <td style="width: 11.88%; vertical-align: middle;">
            <div style="text-align: right; color: #000000;">25.8%</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div>&#160;</div>
    <div style="text-align: justify; color: #000000; font-weight: bold;">Seasonality and quarterly operations results&#160;</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; color: #000000;">Our transaction-based subscription model, similar to most retail businesses, experiences seasonal fluctuations. Historically, we have generated higher net sales in the fourth quarter,
      as a consequence of the concentration of special dates during that quarter.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; color: #000000;">The following table sets forth our quarterly condensed consolidated interim statements of profit or loss data for each of the last historical nine quarters. The condensed consolidated
      interim statements of profit or loss data below has been prepared on the same basis as the unaudited consolidated financial statements included elsewhere in this document and, in our opinion, reflects all necessary adjustments, consisting only of
      ordinary course recurring adjustments, necessary to present this information fairly and accurately. These historical quarterly results of operations are not necessarily indicative of the results of operations for any future period. The pandemic's
      macroeconomic impact led to fluctuations in seasonal patterns, resulting in certain levels of volatility. Nevertheless, we foresee these effects gradually normalizing as the macroeconomic conditions ease.</div>
    <div style="text-align: justify; text-indent: 36pt; color: #000000;"> <br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-weight: normal; font-style: normal;" class="BRPFPageNumber">31</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
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    </div>
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      <div> <br>
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      <table cellspacing="0" cellpadding="0" id="z208237c9f6264a7f9fe3c5eab0e2e609" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

          <tr>
            <td nowrap="nowrap" style="width: 16.94%; vertical-align: bottom;">&#160;</td>
            <td style="width: 83.06%; vertical-align: bottom; border-bottom: #000000 2px solid;" colspan="17">
              <div style="text-align: center; color: #000000; font-size: 8pt; font-weight: bold;">For the three months ended<br>
                (unaudited)</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 16.94%; vertical-align: bottom;">
              <div style="text-align: center; color: #000000; font-size: 8pt; font-style: italic;">(in US$ millions)</div>
            </td>
            <td style="width: 8.24%; vertical-align: bottom; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #000000; font-size: 8pt; font-weight: bold;">September 30, 2021</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: bottom; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">&#160;</td>
            <td style="width: 8.24%; vertical-align: bottom; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #000000; font-size: 8pt; font-weight: bold;">December 31, 2021</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: bottom; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">&#160;</td>
            <td style="width: 8.24%; vertical-align: bottom; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #000000; font-size: 8pt; font-weight: bold;">March<br>
                31, 2022</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">&#160;</td>
            <td style="width: 8.24%; vertical-align: bottom; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #000000; font-size: 8pt; font-weight: bold;">June<br>
                30, 2022</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">&#160;</td>
            <td style="width: 8.24%; vertical-align: bottom; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #000000; font-size: 8pt; font-weight: bold;">September 30, 2022</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">&#160;</td>
            <td style="width: 8.24%; vertical-align: bottom; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #000000; font-size: 8pt; font-weight: bold;">December 31, 2022</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">&#160;</td>
            <td style="width: 8.24%; vertical-align: bottom; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #000000; font-size: 8pt; font-weight: bold;">March<br>
                31, 2023</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">&#160;</td>
            <td style="width: 8.24%; vertical-align: bottom; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #000000; font-size: 8pt; font-weight: bold;">June<br>
                30, 2023</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">&#160;</td>
            <td style="width: 8.24%; vertical-align: bottom; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #000000; font-size: 8pt; font-weight: bold;">September 30, 2023</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 16.94%; vertical-align: middle;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle;">&#160;</td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle;">&#160;</td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle;">&#160;</td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle;">&#160;</td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle;">&#160;</td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle;">&#160;</td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle;">&#160;</td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle;">&#160;</td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle;">&#160;</td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 16.94%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="color: #000000; font-size: 8pt;">Subscription revenue</div>
            </td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">29.6&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">34.5&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">32.6&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">36.6&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">36.5&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">42.7&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">39.8&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">44.8&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">47.5&#160;</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 16.94%; vertical-align: bottom;">
              <div style="color: #000000; font-size: 8pt;">Services revenue</div>
            </td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle;">
              <div style="text-align: right; color: #000000; font-size: 8pt;">2.2&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle;">
              <div style="text-align: right; color: #000000; font-size: 8pt;">2.6&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle;">
              <div style="text-align: right; color: #000000; font-size: 8pt;">2.1&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle;">
              <div style="text-align: right; color: #000000; font-size: 8pt;">2.1&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle;">
              <div style="text-align: right; color: #000000; font-size: 8pt;">2.2&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle;">
              <div style="text-align: right; color: #000000; font-size: 8pt;">2.8&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle;">
              <div style="text-align: right; color: #000000; font-size: 8pt;">2.5&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle;">
              <div style="text-align: right; color: #000000; font-size: 8pt;">3.1&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle;">
              <div style="text-align: right; color: #000000; font-size: 8pt;">3.1&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 16.94%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="color: #000000; font-size: 8pt; font-weight: bold;">Total revenue&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">31.9&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">37.1&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">34.7&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">38.7&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">38.8&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">45.5&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">42.3&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">47.9&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">50.6&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 16.94%; vertical-align: middle;">
              <div style="color: #000000; font-size: 8pt;">Subscription cost&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle;">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(9.7)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle;">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(10.5)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle;">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(10.0)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle;">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(10.2)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle;">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(9.8)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle;">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(11.5)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle;">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(10.4)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle;">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(11.2)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle;">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(11.4)</div>
            </td>
          </tr>
          <tr>
            <td style="width: 16.94%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="color: #000000; font-size: 8pt;">Services cost&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(3.1)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(3.3)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(2.6)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(2.8)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(2.9)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(3.1)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(4.2)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(4.4)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(3.6)</div>
            </td>
          </tr>
          <tr>
            <td style="width: 16.94%; vertical-align: middle;">
              <div style="color: #000000; font-size: 8pt; font-weight: bold;">Total cost&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">(12.8)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">(13.8)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">(12.6)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">(13.0)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">(12.6)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">(14.6)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">(14.6)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">(15.5)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">(15.0)</div>
            </td>
          </tr>
          <tr>
            <td style="width: 16.94%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="color: #000000; font-size: 8pt; font-weight: bold;">Gross profit&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">19.1&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">23.4&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">22.1&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">25.7&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">26.1&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">30.9&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">27.7&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">32.4&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">35.6&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 16.94%; vertical-align: middle;">
              <div style="color: #000000; font-size: 8pt; font-weight: bold;">Operating expenses</div>
            </td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle;">&#160;</td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle;">&#160;</td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle;">&#160;</td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle;">&#160;</td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle;">&#160;</td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle;">&#160;</td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle;">&#160;</td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle;">&#160;</td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 16.94%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="color: #000000; font-size: 8pt;">General and administrative&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(9.9)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(6.9)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(6.9)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(7.4)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(6.9)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(7.1)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(7.9)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(8.2)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(8.4)</div>
            </td>
          </tr>
          <tr>
            <td style="width: 16.94%; vertical-align: middle;">
              <div style="color: #000000; font-size: 8pt;">Sales and marketing&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle;">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(19.3)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle;">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(17.5)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle;">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(17.9)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle;">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(21.3)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle;">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(16.2)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle;">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(12.4)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle;">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(14.8)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle;">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(14.4)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle;">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(15.1)</div>
            </td>
          </tr>
          <tr>
            <td style="width: 16.94%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="color: #000000; font-size: 8pt;">Research and development&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(14.2)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(11.9)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(13.9)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(15.4)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(13.8)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(14.1)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(14.0)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(16.3)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(15.5)</div>
            </td>
          </tr>
          <tr>
            <td style="width: 16.94%; vertical-align: middle;">
              <div style="color: #000000; font-size: 8pt;">Other income (losses)</div>
            </td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle;">
              <div style="text-align: right; color: #000000; font-size: 8pt;">0.0&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle;">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(0.2)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle;">
              <div style="text-align: right; color: #000000; font-size: 8pt;">0.0&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle;">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(0.5)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle;">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(0.5)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle;">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(0.4)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle;">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(0.8)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle;">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(0.5)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle;">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(0.1)</div>
            </td>
          </tr>
          <tr>
            <td style="width: 16.94%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="color: #000000; font-size: 8pt; font-weight: bold;">Loss from operation</div>
            </td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">(24.4)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">(13.1)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">(16.7)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">(18.9)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">(11.3)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">(3.0)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">(9.7)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">(7.1)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">(3.5)</div>
            </td>
          </tr>
          <tr>
            <td style="width: 16.94%; vertical-align: middle;">
              <div style="color: #000000; font-size: 8pt; font-weight: bold;">Financial result, net&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle;">
              <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">(0.6)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle;">
              <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">(1.4)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle;">
              <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">(4.7)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle;">
              <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">(5.4)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle;">
              <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">(0.2)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle;">
              <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">2.7&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle;">
              <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">1.5&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle;">
              <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">0.1&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle;">
              <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">1.1&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 16.94%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="color: #000000; font-size: 8pt;">Equity results&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">0.2&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">0.2&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">0.2&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">0.3&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">0.3&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">0.3&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">0.3&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">0.4&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">0.3&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 16.94%; vertical-align: middle;">
              <div style="color: #000000; font-size: 8pt; font-weight: bold;">Income (loss) before income tax</div>
            </td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">(24.8)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">(14.3)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">(21.2)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">(24.1)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">(11.2)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">0.0&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">(7.9)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">(6.6)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">(2.1)</div>
            </td>
          </tr>
          <tr>
            <td style="width: 16.94%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="color: #000000; font-size: 8pt;">Income tax&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">2.8&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">3.7&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">2.1&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">2.6&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(0.3)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(0.3)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(0.0)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">0.0&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(0.3)</div>
            </td>
          </tr>
          <tr>
            <td style="width: 16.94%; vertical-align: middle;">
              <div style="color: #000000; font-size: 8pt; font-weight: bold;">Net loss for the period</div>
            </td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">(22.0)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">(10.6)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">(19.1)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">(21.5)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">(11.5)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">(0.3)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">(7.9)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">(6.6)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">(2.4)</div>
            </td>
          </tr>
          <tr>
            <td style="width: 16.94%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="color: #000000; font-size: 8pt; font-weight: bold;">Earnings (loss) per share</div>
            </td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 16.94%; vertical-align: middle;">
              <div style="color: #000000; font-size: 8pt;">Basic and diluted earnings (loss) per share (US$)</div>
            </td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">(0.12)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">(0.06)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">(0.10)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">(0.11)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">(0.06)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">(0.00)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">(0.04)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">(0.04)</div>
            </td>
            <td nowrap="nowrap" style="width: 1.11%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.24%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; color: #000000; font-size: 8pt; font-weight: bold;">(0.01)</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <div style="text-indent: 36pt; color: #000000;"> <br>
      </div>
      <div style="text-indent: 36pt; color: #000000;">The following table sets forth selected condensed consolidated interim profit (loss) statements data for each of the periods indicated as a percentage of total revenue.</div>
      <div style="text-indent: 36pt; color: #000000;"> <br>
      </div>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z111bb5e89cf6422bb2cbb9403779487c" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

          <tr>
            <td style="width: 14.59%; vertical-align: bottom;">&#160;</td>
            <td style="width: 85.41%; vertical-align: bottom; border-bottom: #000000 2px solid;" colspan="17">
              <div style="text-align: center; color: #000000; font-size: 8pt; font-weight: bold;">For the three months ended<br>
                (unaudited)</div>
            </td>
          </tr>
          <tr>
            <td style="width: 14.59%; vertical-align: bottom;">&#160;</td>
            <td style="width: 8.26%; vertical-align: bottom; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #000000; font-size: 8pt; font-weight: bold;">September 30, 2021</div>
            </td>
            <td nowrap="nowrap" style="width: 1.56%; vertical-align: bottom; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">&#160;</td>
            <td style="width: 8.26%; vertical-align: bottom; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #000000; font-size: 8pt; font-weight: bold;">December 31, 2021</div>
            </td>
            <td nowrap="nowrap" style="width: 1.56%; vertical-align: bottom; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">&#160;</td>
            <td style="width: 8.26%; vertical-align: bottom; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #000000; font-size: 8pt; font-weight: bold;">March<br>
                31, 2022</div>
            </td>
            <td nowrap="nowrap" style="width: 1.56%; vertical-align: bottom; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">&#160;</td>
            <td style="width: 8.26%; vertical-align: bottom; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #000000; font-size: 8pt; font-weight: bold;">June<br>
                30, 2022</div>
            </td>
            <td nowrap="nowrap" style="width: 1.56%; vertical-align: bottom; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">&#160;</td>
            <td style="width: 8.55%; vertical-align: bottom; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #000000; font-size: 8pt; font-weight: bold;">September 30, 2022</div>
            </td>
            <td nowrap="nowrap" style="width: 0.98%; vertical-align: bottom; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">&#160;</td>
            <td style="width: 8.55%; vertical-align: bottom; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #000000; font-size: 8pt; font-weight: bold;">December 31, 2022</div>
            </td>
            <td nowrap="nowrap" style="width: 0.98%; vertical-align: bottom; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">&#160;</td>
            <td style="width: 8.55%; vertical-align: bottom; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #000000; font-size: 8pt; font-weight: bold;">March<br>
                31, 2023</div>
            </td>
            <td nowrap="nowrap" style="width: 0.98%; vertical-align: bottom; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">&#160;</td>
            <td style="width: 8.26%; vertical-align: bottom; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #000000; font-size: 8pt; font-weight: bold;">June<br>
                30, 2023</div>
            </td>
            <td style="width: 0.98%; vertical-align: bottom; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">&#160;</td>
            <td style="width: 8.26%; vertical-align: bottom; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #000000; font-size: 8pt; font-weight: bold;">September 30, 2023</div>
            </td>
          </tr>
          <tr>
            <td style="width: 14.59%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 1.56%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 1.56%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 1.56%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 1.56%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.55%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 0.98%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.55%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 0.98%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.55%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 0.98%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 0.98%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 14.59%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="color: #000000; font-size: 8pt; font-weight: bold;">Total revenue&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">100.0%</div>
            </td>
            <td nowrap="nowrap" style="width: 1.56%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">100.0%</div>
            </td>
            <td nowrap="nowrap" style="width: 1.56%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">100.0%</div>
            </td>
            <td nowrap="nowrap" style="width: 1.56%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">100.0%</div>
            </td>
            <td nowrap="nowrap" style="width: 1.56%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">100.0%</div>
            </td>
            <td nowrap="nowrap" style="width: 0.98%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">100.0%</div>
            </td>
            <td nowrap="nowrap" style="width: 0.98%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">100.0%</div>
            </td>
            <td nowrap="nowrap" style="width: 0.98%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">100.0%</div>
            </td>
            <td nowrap="nowrap" style="width: 0.98%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">100.0%</div>
            </td>
          </tr>
          <tr>
            <td style="width: 14.59%; vertical-align: middle;">
              <div style="color: #000000; font-size: 8pt;">Subscription cost&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(30.6)%</div>
            </td>
            <td nowrap="nowrap" style="width: 1.56%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(28.2)%</div>
            </td>
            <td nowrap="nowrap" style="width: 1.56%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(28.8)%</div>
            </td>
            <td nowrap="nowrap" style="width: 1.56%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(26.3)%</div>
            </td>
            <td nowrap="nowrap" style="width: 1.56%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.55%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(25.2)%</div>
            </td>
            <td nowrap="nowrap" style="width: 0.98%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.55%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(25.3)%</div>
            </td>
            <td nowrap="nowrap" style="width: 0.98%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.55%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(24.6)%</div>
            </td>
            <td nowrap="nowrap" style="width: 0.98%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(23.3)%</div>
            </td>
            <td nowrap="nowrap" style="width: 0.98%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(22.5)%</div>
            </td>
          </tr>
          <tr>
            <td style="width: 14.59%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="color: #000000; font-size: 8pt;">Services cost&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(9.6)%</div>
            </td>
            <td nowrap="nowrap" style="width: 1.56%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(8.9)%</div>
            </td>
            <td nowrap="nowrap" style="width: 1.56%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(7.5)%</div>
            </td>
            <td nowrap="nowrap" style="width: 1.56%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(7.3)%</div>
            </td>
            <td nowrap="nowrap" style="width: 1.56%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(7.4)%</div>
            </td>
            <td nowrap="nowrap" style="width: 0.98%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(6.8)%</div>
            </td>
            <td nowrap="nowrap" style="width: 0.98%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(9.9)%</div>
            </td>
            <td nowrap="nowrap" style="width: 0.98%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(9.1)%</div>
            </td>
            <td nowrap="nowrap" style="width: 0.98%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(7.2)%</div>
            </td>
          </tr>
          <tr>
            <td style="width: 14.59%; vertical-align: middle;">
              <div style="color: #000000; font-size: 8pt; font-weight: bold;">Total cost&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(40.1)%</div>
            </td>
            <td nowrap="nowrap" style="width: 1.56%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(37.1)%</div>
            </td>
            <td nowrap="nowrap" style="width: 1.56%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(36.3)%</div>
            </td>
            <td nowrap="nowrap" style="width: 1.56%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(33.6)%</div>
            </td>
            <td nowrap="nowrap" style="width: 1.56%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.55%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(32.6)%</div>
            </td>
            <td nowrap="nowrap" style="width: 0.98%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.55%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(32.1)%</div>
            </td>
            <td nowrap="nowrap" style="width: 0.98%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.55%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(34.4)%</div>
            </td>
            <td nowrap="nowrap" style="width: 0.98%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(32.4)%</div>
            </td>
            <td nowrap="nowrap" style="width: 0.98%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(29.7)%</div>
            </td>
          </tr>
          <tr>
            <td style="width: 14.59%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="color: #000000; font-size: 8pt; font-weight: bold;">Gross profit&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">59.9%</div>
            </td>
            <td nowrap="nowrap" style="width: 1.56%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">62.9%</div>
            </td>
            <td nowrap="nowrap" style="width: 1.56%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">63.7%</div>
            </td>
            <td nowrap="nowrap" style="width: 1.56%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">66.4%</div>
            </td>
            <td nowrap="nowrap" style="width: 1.56%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.55%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">67.4%</div>
            </td>
            <td nowrap="nowrap" style="width: 0.98%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.55%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">67.9%</div>
            </td>
            <td nowrap="nowrap" style="width: 0.98%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.55%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">65.6%</div>
            </td>
            <td nowrap="nowrap" style="width: 0.98%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">67.6%</div>
            </td>
            <td nowrap="nowrap" style="width: 0.98%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">70.3%</div>
            </td>
          </tr>
          <tr>
            <td style="width: 14.59%; vertical-align: middle;">
              <div style="color: #000000; font-size: 8pt; font-weight: bold;">Operating expenses</div>
            </td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 1.56%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 1.56%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 1.56%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 1.56%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.55%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 0.98%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.55%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 0.98%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.55%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 0.98%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 0.98%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 14.59%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="color: #000000; font-size: 8pt;">General and administrative&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(31.2)%</div>
            </td>
            <td nowrap="nowrap" style="width: 1.56%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(18.6)%</div>
            </td>
            <td nowrap="nowrap" style="width: 1.56%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(19.9)%</div>
            </td>
            <td nowrap="nowrap" style="width: 1.56%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(19.2)%</div>
            </td>
            <td nowrap="nowrap" style="width: 1.56%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.55%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(17.9)%</div>
            </td>
            <td nowrap="nowrap" style="width: 0.98%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.55%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(15.5)%</div>
            </td>
            <td nowrap="nowrap" style="width: 0.98%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.55%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(18.7)%</div>
            </td>
            <td nowrap="nowrap" style="width: 0.98%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(17.2)%</div>
            </td>
            <td nowrap="nowrap" style="width: 0.98%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(16.5)%</div>
            </td>
          </tr>
          <tr>
            <td style="width: 14.59%; vertical-align: middle;">
              <div style="color: #000000; font-size: 8pt;">Sales and marketing&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(60.7)%</div>
            </td>
            <td nowrap="nowrap" style="width: 1.56%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(47.0)%</div>
            </td>
            <td nowrap="nowrap" style="width: 1.56%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(51.6)%</div>
            </td>
            <td nowrap="nowrap" style="width: 1.56%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(55.1)%</div>
            </td>
            <td nowrap="nowrap" style="width: 1.56%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.55%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(41.7)%</div>
            </td>
            <td nowrap="nowrap" style="width: 0.98%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.55%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(27.3)%</div>
            </td>
            <td nowrap="nowrap" style="width: 0.98%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.55%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(35.0)%</div>
            </td>
            <td nowrap="nowrap" style="width: 0.98%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(30.2)%</div>
            </td>
            <td nowrap="nowrap" style="width: 0.98%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(29.8)%</div>
            </td>
          </tr>
          <tr>
            <td style="width: 14.59%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="color: #000000; font-size: 8pt;">Research and development&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(44.5)%</div>
            </td>
            <td nowrap="nowrap" style="width: 1.56%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(32.1)%</div>
            </td>
            <td nowrap="nowrap" style="width: 1.56%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(40.1)%</div>
            </td>
            <td nowrap="nowrap" style="width: 1.56%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(39.8)%</div>
            </td>
            <td nowrap="nowrap" style="width: 1.56%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.55%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(35.6)%</div>
            </td>
            <td nowrap="nowrap" style="width: 0.98%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.55%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(30.9)%</div>
            </td>
            <td nowrap="nowrap" style="width: 0.98%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.55%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(33.0)%</div>
            </td>
            <td nowrap="nowrap" style="width: 0.98%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(34.0)%</div>
            </td>
            <td nowrap="nowrap" style="width: 0.98%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(30.6)%</div>
            </td>
          </tr>
          <tr>
            <td style="width: 14.59%; vertical-align: middle;">
              <div style="color: #000000; font-size: 8pt;">Other income (losses)</div>
            </td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000; font-size: 8pt;">0.0%</div>
            </td>
            <td nowrap="nowrap" style="width: 1.56%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(0.6)%</div>
            </td>
            <td nowrap="nowrap" style="width: 1.56%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000; font-size: 8pt;">0.0%</div>
            </td>
            <td nowrap="nowrap" style="width: 1.56%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(1.2)%</div>
            </td>
            <td nowrap="nowrap" style="width: 1.56%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.55%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(1.3)%</div>
            </td>
            <td nowrap="nowrap" style="width: 0.98%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.55%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(0.9)%</div>
            </td>
            <td nowrap="nowrap" style="width: 0.98%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.55%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(1.8)%</div>
            </td>
            <td nowrap="nowrap" style="width: 0.98%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(1.1)%</div>
            </td>
            <td nowrap="nowrap" style="width: 0.98%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(0.2)%</div>
            </td>
          </tr>
          <tr>
            <td style="width: 14.59%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="color: #000000; font-size: 8pt; font-weight: bold;">Loss from operation</div>
            </td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(76.5)%</div>
            </td>
            <td nowrap="nowrap" style="width: 1.56%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(35.4)%</div>
            </td>
            <td nowrap="nowrap" style="width: 1.56%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(48.1)%</div>
            </td>
            <td nowrap="nowrap" style="width: 1.56%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(48.9)%</div>
            </td>
            <td nowrap="nowrap" style="width: 1.56%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.55%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(29.1)%</div>
            </td>
            <td nowrap="nowrap" style="width: 0.98%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.55%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(6.7)%</div>
            </td>
            <td nowrap="nowrap" style="width: 0.98%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.55%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(23.0)%</div>
            </td>
            <td nowrap="nowrap" style="width: 0.98%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(14.9)%</div>
            </td>
            <td nowrap="nowrap" style="width: 0.98%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(6.9)%</div>
            </td>
          </tr>
          <tr>
            <td style="width: 14.59%; vertical-align: middle;">
              <div style="color: #000000; font-size: 8pt; font-weight: bold;">Financial result, net&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(1.8)%</div>
            </td>
            <td nowrap="nowrap" style="width: 1.56%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(3.7)%</div>
            </td>
            <td nowrap="nowrap" style="width: 1.56%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(13.5)%</div>
            </td>
            <td nowrap="nowrap" style="width: 1.56%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(14.0)%</div>
            </td>
            <td nowrap="nowrap" style="width: 1.56%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(0.5)%</div>
            </td>
            <td nowrap="nowrap" style="width: 0.98%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">5.9%</div>
            </td>
            <td nowrap="nowrap" style="width: 0.98%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">3.4%</div>
            </td>
            <td nowrap="nowrap" style="width: 0.98%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">0.2%</div>
            </td>
            <td nowrap="nowrap" style="width: 0.98%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">2.1%</div>
            </td>
          </tr>
          <tr>
            <td style="width: 14.59%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="color: #000000; font-size: 8pt;">Equity results&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">0.5%</div>
            </td>
            <td nowrap="nowrap" style="width: 1.56%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">0.5%</div>
            </td>
            <td nowrap="nowrap" style="width: 1.56%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">0.6%</div>
            </td>
            <td nowrap="nowrap" style="width: 1.56%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">0.7%</div>
            </td>
            <td nowrap="nowrap" style="width: 1.56%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.55%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">0.7%</div>
            </td>
            <td nowrap="nowrap" style="width: 0.98%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.55%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">0.8%</div>
            </td>
            <td nowrap="nowrap" style="width: 0.98%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.55%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">0.8%</div>
            </td>
            <td nowrap="nowrap" style="width: 0.98%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">0.8%</div>
            </td>
            <td nowrap="nowrap" style="width: 0.98%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">0.6%</div>
            </td>
          </tr>
          <tr>
            <td style="width: 14.59%; vertical-align: middle;">
              <div style="color: #000000; font-size: 8pt; font-weight: bold;">Income (loss) before income tax</div>
            </td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(77.7)%</div>
            </td>
            <td nowrap="nowrap" style="width: 1.56%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(38.6)%</div>
            </td>
            <td nowrap="nowrap" style="width: 1.56%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(61.1)%</div>
            </td>
            <td nowrap="nowrap" style="width: 1.56%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(62.2)%</div>
            </td>
            <td nowrap="nowrap" style="width: 1.56%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(28.9)%</div>
            </td>
            <td nowrap="nowrap" style="width: 0.98%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">0.1%</div>
            </td>
            <td nowrap="nowrap" style="width: 0.98%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(18.7)%</div>
            </td>
            <td nowrap="nowrap" style="width: 0.98%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(13.9)%</div>
            </td>
            <td nowrap="nowrap" style="width: 0.98%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(4.2)%</div>
            </td>
          </tr>
          <tr>
            <td style="width: 14.59%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="color: #000000; font-size: 8pt;">Income tax&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">8.8%</div>
            </td>
            <td nowrap="nowrap" style="width: 1.56%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">10.0%</div>
            </td>
            <td nowrap="nowrap" style="width: 1.56%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">6.1%</div>
            </td>
            <td nowrap="nowrap" style="width: 1.56%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">6.8%</div>
            </td>
            <td nowrap="nowrap" style="width: 1.56%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.55%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(0.9)%</div>
            </td>
            <td nowrap="nowrap" style="width: 0.98%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.55%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(0.8)%</div>
            </td>
            <td nowrap="nowrap" style="width: 0.98%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.55%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(0)%</div>
            </td>
            <td nowrap="nowrap" style="width: 0.98%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">0.1%</div>
            </td>
            <td nowrap="nowrap" style="width: 0.98%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(0.5)%</div>
            </td>
          </tr>
          <tr>
            <td style="width: 14.59%; vertical-align: middle;">
              <div style="color: #000000; font-size: 8pt; font-weight: bold;">Net loss for the period</div>
            </td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(68.9)%</div>
            </td>
            <td nowrap="nowrap" style="width: 1.56%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(28.6)%</div>
            </td>
            <td nowrap="nowrap" style="width: 1.56%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(55.0)%</div>
            </td>
            <td nowrap="nowrap" style="width: 1.56%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(55.4)%</div>
            </td>
            <td nowrap="nowrap" style="width: 1.56%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.55%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(29.8)%</div>
            </td>
            <td nowrap="nowrap" style="width: 0.98%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.55%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(0.7)%</div>
            </td>
            <td nowrap="nowrap" style="width: 0.98%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.55%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(18.8)%</div>
            </td>
            <td nowrap="nowrap" style="width: 0.98%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(13.8)%</div>
            </td>
            <td nowrap="nowrap" style="width: 0.98%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.26%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; color: #000000; font-size: 8pt;">(4.7)%</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <div><br>
      </div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
        <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-weight: normal; font-style: normal;" class="BRPFPageNumber">32</font></div>
        <div style="page-break-after: always;" class="BRPFPageBreak">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        <div style="width: 100%;" class="BRPFPageHeader"></div>
      </div>
      <div style="color: #000000;"> <br>
      </div>
      <div style="color: #000000;">The following table sets forth our Non-GAAP income (loss) from operations for each of the periods indicated:</div>
      <div>&#160;</div>
      <table cellspacing="0" cellpadding="0" id="zc326ec1c38bd4c529c9f5a193081476c" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

          <tr>
            <td nowrap="nowrap" style="width: 17.87%; vertical-align: bottom;">&#160;</td>
            <td style="width: 82.13%; vertical-align: bottom; border-bottom: #000000 2px solid;" colspan="18">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-weight: bold;">For the three months ended<br>
                (unaudited)</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 17.87%; vertical-align: middle;">&#160;</td>
            <td nowrap="nowrap" style="width: 0.96%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 8.42%; vertical-align: bottom; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-weight: bold;">September 30, 2021</div>
            </td>
            <td nowrap="nowrap" style="width: 0.96%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 8.13%; vertical-align: bottom; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-weight: bold;">December 31, 2021</div>
            </td>
            <td nowrap="nowrap" style="width: 0.96%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 8.13%; vertical-align: bottom; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-weight: bold;">March<br>
                31, 2022</div>
            </td>
            <td nowrap="nowrap" style="width: 0.96%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 8.13%; vertical-align: bottom; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-weight: bold;">June<br>
                30, 2022</div>
            </td>
            <td nowrap="nowrap" style="width: 0.96%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 8.13%; vertical-align: bottom; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-weight: bold;">September 30, 2022</div>
            </td>
            <td nowrap="nowrap" style="width: 0.96%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 8.13%; vertical-align: bottom; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-weight: bold;">December 31, 2022</div>
            </td>
            <td nowrap="nowrap" style="width: 0.96%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 8.13%; vertical-align: bottom; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-weight: bold;">March<br>
                31, 2023</div>
            </td>
            <td nowrap="nowrap" style="width: 0.96%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 8.13%; vertical-align: bottom; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-weight: bold;">June<br>
                30, 2023</div>
            </td>
            <td style="width: 0.96%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 8.13%; vertical-align: bottom; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-weight: bold;">September 30, 2023</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 17.87%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 0.96%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.42%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 0.96%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.13%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 0.96%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.13%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 0.96%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.13%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 0.96%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.13%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 0.96%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.13%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 0.96%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.13%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 0.96%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.13%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 0.96%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.13%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 17.87%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">Loss from operation</div>
            </td>
            <td nowrap="nowrap" style="width: 0.96%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.42%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">(24.4)</div>
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            <td nowrap="nowrap" style="width: 0.96%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.13%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">(13.1)</div>
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            <td nowrap="nowrap" style="width: 0.96%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.13%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">(16.7)</div>
            </td>
            <td nowrap="nowrap" style="width: 0.96%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.13%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">(18.9)</div>
            </td>
            <td nowrap="nowrap" style="width: 0.96%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.13%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">(11.3)</div>
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            <td nowrap="nowrap" style="width: 0.96%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.13%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">(3.0)</div>
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            <td nowrap="nowrap" style="width: 0.96%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.13%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">(9.7)</div>
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            <td nowrap="nowrap" style="width: 0.96%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.13%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">(7.1)</div>
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            <td nowrap="nowrap" style="width: 0.96%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.13%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">(3.5)</div>
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            <td nowrap="nowrap" style="width: 17.87%; vertical-align: bottom;">
              <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">Share-based compensation expense</div>
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            <td nowrap="nowrap" style="width: 0.96%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.42%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">9.3&#160;</div>
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            <td nowrap="nowrap" style="width: 0.96%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.13%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">1.6&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 0.96%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.13%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">2.5&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 0.96%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.13%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">0.9&#160;</div>
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            <td nowrap="nowrap" style="width: 0.96%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.13%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">4.8&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 0.96%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.13%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">4.6&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 0.96%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.13%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">5.1&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 0.96%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.13%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">4.7&#160;</div>
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            <td nowrap="nowrap" style="width: 0.96%; vertical-align: bottom;">&#160;</td>
            <td nowrap="nowrap" style="width: 8.13%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">4.6&#160;</div>
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          <tr>
            <td nowrap="nowrap" style="width: 17.87%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">Amortization and adjustment related to acquisitions</div>
            </td>
            <td nowrap="nowrap" style="width: 0.96%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.42%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">0.5&#160;</div>
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            <td nowrap="nowrap" style="width: 0.96%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.13%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">0.8&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 0.96%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.13%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">0.5&#160;</div>
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            <td nowrap="nowrap" style="width: 0.96%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.13%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">0.6&#160;</div>
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            <td nowrap="nowrap" style="width: 0.96%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.13%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">0.5&#160;</div>
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            <td nowrap="nowrap" style="width: 0.96%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.13%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">0.5&#160;</div>
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            <td nowrap="nowrap" style="width: 0.96%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.13%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">0.5&#160;</div>
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            <td nowrap="nowrap" style="width: 0.96%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.13%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">0.8&#160;</div>
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            <td nowrap="nowrap" style="width: 0.96%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.13%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">0.6&#160;</div>
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          <tr>
            <td nowrap="nowrap" style="width: 17.87%; vertical-align: bottom;">
              <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">Offering expenses ("IPO") (i)</div>
            </td>
            <td nowrap="nowrap" style="width: 0.96%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.42%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">1.3&#160;</div>
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            <td nowrap="nowrap" style="width: 0.96%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.13%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">-&#160;&#160;&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 0.96%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.13%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">-&#160;&#160;&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 0.96%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.13%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">-&#160;&#160;&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 0.96%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.13%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">-&#160;&#160;&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 0.96%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.13%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">-&#160;&#160;&#160;</div>
            </td>
            <td nowrap="nowrap" style="width: 0.96%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.13%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">-&#160;&#160;&#160;</div>
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            <td nowrap="nowrap" style="width: 0.96%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.13%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">-&#160;&#160;&#160;</div>
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            <td nowrap="nowrap" style="width: 0.96%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.13%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">-&#160;&#160;&#160;</div>
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          <tr>
            <td nowrap="nowrap" style="width: 17.87%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-weight: bold;">Non-GAAP Income (loss) from operation</div>
            </td>
            <td nowrap="nowrap" style="width: 0.96%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.42%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-weight: bold;">(13.3)</div>
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            <td nowrap="nowrap" style="width: 0.96%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.13%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-weight: bold;">(10.9)</div>
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            <td nowrap="nowrap" style="width: 0.96%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.13%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-weight: bold;">(13.7)</div>
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            <td nowrap="nowrap" style="width: 0.96%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.13%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-weight: bold;">(17.5)</div>
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            <td nowrap="nowrap" style="width: 0.96%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.13%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-weight: bold;">(6.0)</div>
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            <td nowrap="nowrap" style="width: 0.96%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 8.13%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-weight: bold;">2.1&#160;</div>
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              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-weight: bold;">(4.1)</div>
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              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-weight: bold;">(1.5)</div>
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            <td nowrap="nowrap" style="width: 8.13%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
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      <div style="color: #000000; font-size: 8pt;"> <br>
      </div>
      <div style="color: #000000; font-size: 8pt;">(i) Offering expenses ("IPO") are related to shares offered by the selling shareholders and other one-off IPO expenses.</div>
      <div><br>
      </div>
      <div>&#160;</div>
      <div style="text-align: justify; color: #000000; font-weight: bold;">Components of our results of operations</div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; color: #000000;">The following is a summary of the principal line items comprising condensed consolidated interim income of profit and loss.</div>
      <div>&#160;</div>
      <div style="text-align: justify; margin-left: 36pt; color: #000000; font-style: italic; font-weight: bold;">Total revenue</div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; color: #000000;">Our total revenue consists of (1) subscription and support revenue, arising from a multichannel cloud and SaaS-based platform focused on ecommerce; and (2) revenue from professional
        services and other, arising substantially from consulting services.</div>
      <div>&#160;</div>
      <div style="text-align: justify; margin-left: 36pt; color: #000000; font-style: italic;"><u>Subscription revenue</u></div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; color: #000000;">Subscription revenue consists of revenue derived from (1) a mix of transaction-based fees and fixed subscription fees, in each case derived from customers using our platform; (2)
        our SMB business; and (3)&#160;other business units that generate recurring revenue to us.</div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; color: #000000;">Transaction-based fees comprise (a) commission fees charged to customers based on a percentage of the GMV or a fee per order processed on our platform; and (b) commission fees
        charged to marketplace partners, payment providers, and any other services provided through our app store.</div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; color: #000000;">Fixed subscription fees comprise (a) yearly or multi-year upfront fees paid by merchants to reduce future variable fees; and (b) fixed monthly fee for using our platform in any
        given month. Fixed fees are paid to us at the beginning of the applicable subscription period, regardless of the length of the subscription period. As subscription fees are received in advance of providing the related services, we record deferred
        revenue on our consolidated balance sheet for the unearned revenue and recognize revenue ratably over the related subscription period.</div>
      <div>&#160;</div>
      <div style="text-align: justify; margin-left: 36pt; color: #000000; font-style: italic;"><u>Services revenue</u></div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; color: #000000;">Services revenue consists primarily of revenue derived from consulting services which are recognized over time during the period that services are performed. Services revenue
        accounted for 6.1% of our revenue for the three-month period ended September 30, 2023, compared to 5.8% in the same period of 2022. For the nine-month period ended on September 30, 2023, the consulting services revenue accounted for 6.2% of our
        revenue, compared to 5.7% in the same period of 2022.</div>
      <div style="text-align: justify; text-indent: 36pt; color: #000000;"> <br>
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      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
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      <div style="text-align: justify; text-indent: 36pt; color: #000000;">Our total cost consists of (1) subscription cost; and (2) services cost.</div>
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      <div style="text-align: justify; margin-left: 36pt; color: #000000; font-style: italic;"><u>Subscription cost of revenue</u></div>
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      <div style="text-align: justify; text-indent: 36pt; color: #000000;">Subscription cost consists mainly of costs related to hosting and customer support costs. The hosting related costs include third-party providers, software related platform
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      <div>&#160;</div>
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      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; color: #000000;">Services cost consist mainly of personnel costs and/or third-party expenses to provide the professional services advisory for a specific project of a customer project.</div>
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      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; color: #000000;">Our operating expenses consist of general and administrative expenses, sales and marketing expenses, and research and development expenses.</div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; color: #000000;">General and administrative expenses consist primarily of (1) personnel-related expenses (including stock-based compensation) for our finance, support operation departments, legal
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      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; color: #000000;">Sales and marketing expenses consist primarily of (1) personnel-related expenses (including stock-based compensation) and commissions paid to the direct sales team, the success
        team, partnership sales team and sales enablement team; (2) travel-related expenses; (3) marketing and events expenses; (4) finder fee commissions; and (5) the allocation of corporate overhead. We plan to continue to incur sales and marketing
        expenses in the regions that we currently have a presence as well as in new regions over time in order to continue to enhance our brand awareness and our capabilities to attract new customers.</div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; color: #000000;">Research and development expenses consist primarily of (1) personnel-related expenses (including stock-based compensation) for product development, product management and product
        design; (2) software subscription costs related to the product; and (3) the allocation of corporate overhead. We expect to increase the research and development expenses to continue investing in product innovation, and in the development of new
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      <div>&#160;</div>
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      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; color: #000000;">Financial results consist of financial income and financial expenses. Financial income consists of interest earned on bank deposits, foreign exchange gains, short-term investment
        gains and other financial income. Financial expense consists mostly of foreign exchange losses, short-term investment losses, losses from fair value of financial instruments, interest on lease liabilities and adjustment of hyperinflation in
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      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; color: #000000;">Provision for income taxes consists primarily of income taxes, current and deferred, in certain foreign jurisdictions in which we conduct business. The current and deferred income
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      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; color: #000000;">Currently we are running losses in most of our subsidiaries, and to that extent and considering the profitability expected in the foreseeable future our most relevant operation has
        been booking the related tax losses as part of our deferred tax assets.</div>
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      <div>&#160;</div>
      <div style="text-align: justify; color: #000000; font-weight: bold;">Historical operations results</div>
      <div>&#160;</div>
      <div style="text-align: justify; color: #000000; font-style: italic; font-weight: bold;">Comparison of results of operations for the three and nine-month periods ended September 30, 2023 and 2022&#160;</div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; color: #000000;">The following table sets forth our condensed consolidated interim income statements for the three and nine-month periods ended September 30, 2023 and 2022. The period-to-period
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      <div>&#160;</div>
      <div><br>
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              <div style="text-align: center; color: #000000; font-weight: bold;">Three&#160;months&#160;ended&#160;</div>
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            <td style="width: 32.04%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);" colspan="3">
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              <div style="color: #000000; font-style: italic;">(in&#160;US$&#160;thousands)</div>
            </td>
            <td style="width: 15.29%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; color: #000000; font-weight: bold;">September</div>
              <div style="text-align: right; color: #000000; font-weight: bold;">30,&#160;2023</div>
            </td>
            <td style="width: 1.46%; vertical-align: bottom;">&#160;</td>
            <td style="width: 15.29%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; color: #000000; font-weight: bold;">September</div>
              <div style="text-align: right; color: #000000; font-weight: bold;">30,&#160;2022</div>
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            <td style="width: 15.29%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; color: #000000; font-weight: bold;">September</div>
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            </td>
            <td style="width: 1.46%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 15.29%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; color: #000000; font-weight: bold;">September</div>
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              <div style="color: #000000;">Subscription&#160;revenue</div>
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            <td style="width: 15.29%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000;">47,544</div>
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            <td style="width: 1.46%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 15.29%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000;">36,513</div>
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            <td style="width: 1.46%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 15.29%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000;">132,078</div>
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            <td style="width: 1.46%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 15.29%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000;">105,743</div>
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            <td style="width: 34.37%; vertical-align: bottom;">
              <div style="color: #000000;">Services&#160;revenue</div>
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            <td style="width: 15.29%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000;">3,084</div>
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            <td style="width: 1.46%; vertical-align: bottom;">&#160;</td>
            <td style="width: 15.29%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000;">2,241</div>
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            <td style="width: 1.46%; vertical-align: bottom;">&#160;</td>
            <td style="width: 15.29%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000;">8,718</div>
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            <td style="width: 1.46%; vertical-align: bottom;">&#160;</td>
            <td style="width: 15.29%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000;">6,392</div>
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            <td style="width: 34.37%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="color: #000000; font-weight: bold;">Total&#160;revenue</div>
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            <td style="width: 15.29%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-weight: bold;">50,628</div>
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            <td style="width: 1.46%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 15.29%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-weight: bold;">38,754</div>
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            <td style="width: 1.46%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 15.29%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-weight: bold;">140,796</div>
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            <td style="width: 1.46%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 15.29%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-weight: bold;">112,135</div>
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              <div style="text-align: right; color: #000000;">(11,395)</div>
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            <td style="width: 15.29%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000;">(9,755)</div>
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            <td style="width: 1.46%; vertical-align: bottom;">&#160;</td>
            <td style="width: 15.29%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000;">(32,948)</div>
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            <td style="width: 1.46%; vertical-align: bottom;">&#160;</td>
            <td style="width: 15.29%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000;">(29,917)</div>
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            <td style="width: 34.37%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="color: #000000;">Service&#160;cost&#160;(1)</div>
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            <td style="width: 15.29%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000;">(3,625)</div>
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            <td style="width: 1.46%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 15.29%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000;">(2,872)</div>
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            <td style="width: 1.46%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 15.29%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000;">(12,144)</div>
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            <td style="width: 1.46%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 15.29%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000;">(8,321)</div>
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          <tr>
            <td style="width: 34.37%; vertical-align: bottom;">
              <div style="color: #000000; font-weight: bold;">Total&#160;cost</div>
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            <td style="width: 15.29%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000; font-weight: bold;">(15,020)</div>
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            <td style="width: 1.46%; vertical-align: bottom;">&#160;</td>
            <td style="width: 15.29%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000; font-weight: bold;">(12,627)</div>
            </td>
            <td style="width: 1.46%; vertical-align: bottom;">&#160;</td>
            <td style="width: 15.29%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000; font-weight: bold;">(45,092)</div>
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            <td style="width: 1.46%; vertical-align: bottom;">&#160;</td>
            <td style="width: 15.29%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000; font-weight: bold;">(38,238)</div>
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            <td style="width: 34.37%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="color: #000000; font-weight: bold;">Gross&#160;profit</div>
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            <td style="width: 15.29%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-weight: bold;">35,608</div>
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            <td style="width: 1.46%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 15.29%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-weight: bold;">26,127</div>
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            <td style="width: 1.46%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 15.29%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-weight: bold;">95,704</div>
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            <td style="width: 1.46%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 15.29%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-weight: bold;">73,897</div>
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            <td style="width: 34.37%; vertical-align: bottom;">
              <div style="color: #000000; font-weight: bold;">Operating&#160;expenses</div>
            </td>
            <td style="width: 15.29%; vertical-align: bottom;">&#160;</td>
            <td style="width: 1.46%; vertical-align: bottom;">&#160;</td>
            <td style="width: 15.29%; vertical-align: bottom;">&#160;</td>
            <td style="width: 1.46%; vertical-align: bottom;">&#160;</td>
            <td style="width: 15.29%; vertical-align: bottom;">&#160;</td>
            <td style="width: 1.46%; vertical-align: bottom;">&#160;</td>
            <td style="width: 15.29%; vertical-align: bottom;">&#160;</td>
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          <tr>
            <td style="width: 34.37%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
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              <div style="text-align: right; color: #000000;">(8,374)</div>
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            <td style="width: 1.46%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 15.29%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000;">(6,944)</div>
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            <td style="width: 1.46%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 15.29%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000;">(24,541)</div>
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            <td style="width: 1.46%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 15.29%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
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            </td>
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            <td style="width: 34.37%; vertical-align: bottom;">
              <div style="color: #000000;">Sales&#160;and&#160;marketing&#160;(1)</div>
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              <div style="text-align: right; color: #000000;">(15,101)</div>
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            <td style="width: 15.29%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000;">(16,176)</div>
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            <td style="width: 1.46%; vertical-align: bottom;">&#160;</td>
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              <div style="text-align: right; color: #000000;">(44,332)</div>
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            <td style="width: 1.46%; vertical-align: bottom;">&#160;</td>
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              <div style="text-align: right; color: #000000;">(55,394)</div>
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          <tr>
            <td style="width: 34.37%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="color: #000000;">Research&#160;and&#160;development&#160;(1)</div>
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            <td style="width: 15.29%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000;">(15,508)</div>
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            <td style="width: 1.46%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 15.29%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000;">(13,812)</div>
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            <td style="width: 1.46%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 15.29%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000;">(45,772)</div>
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            <td style="width: 1.46%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 15.29%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000;">(43,146)</div>
            </td>
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          <tr>
            <td style="width: 34.37%; vertical-align: bottom;">
              <div style="color: #000000;">Other&#160;losses</div>
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            <td style="width: 15.29%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000;">(99)</div>
            </td>
            <td style="width: 1.46%; vertical-align: bottom;">&#160;</td>
            <td style="width: 15.29%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000;">(489)</div>
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            <td style="width: 1.46%; vertical-align: bottom;">&#160;</td>
            <td style="width: 15.29%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000;">(1,364)</div>
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            <td style="width: 1.46%; vertical-align: bottom;">&#160;</td>
            <td style="width: 15.29%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000;">(954)</div>
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          <tr>
            <td style="width: 34.37%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="color: #000000; font-weight: bold;">Loss&#160;from&#160;operations</div>
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            <td style="width: 15.29%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-weight: bold;">(3,474)</div>
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            <td style="width: 1.46%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 15.29%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-weight: bold;">(11,294)</div>
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            <td style="width: 1.46%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 15.29%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-weight: bold;">(20,305)</div>
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            <td style="width: 1.46%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 15.29%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-weight: bold;">(46,893)</div>
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          <tr>
            <td style="width: 34.37%; vertical-align: bottom;">
              <div style="color: #000000; font-weight: bold;">Financial&#160;result,&#160;net</div>
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            <td style="width: 15.29%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000; font-weight: bold;">1,078</div>
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            <td style="width: 1.46%; vertical-align: bottom;">&#160;</td>
            <td style="width: 15.29%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000; font-weight: bold;">(190)</div>
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            <td style="width: 15.29%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000; font-weight: bold;">2,648</div>
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            <td style="width: 1.46%; vertical-align: bottom;">&#160;</td>
            <td style="width: 15.29%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000; font-weight: bold;">(10,337)</div>
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          <tr>
            <td style="width: 34.37%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
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            <td style="width: 15.29%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000;">281</div>
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            <td style="width: 1.46%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 15.29%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000;">272</div>
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            <td style="width: 1.46%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 15.29%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000;">989</div>
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            <td style="width: 1.46%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 15.29%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000;">759</div>
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            <td style="width: 34.37%; vertical-align: bottom;">
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            <td style="width: 15.29%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000; font-weight: bold;">(2,115)</div>
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            <td style="width: 1.46%; vertical-align: bottom;">&#160;</td>
            <td style="width: 15.29%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000; font-weight: bold;">(11,212)</div>
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            <td style="width: 1.46%; vertical-align: bottom;">&#160;</td>
            <td style="width: 15.29%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000; font-weight: bold;">(16,668)</div>
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            <td style="width: 1.46%; vertical-align: bottom;">&#160;</td>
            <td style="width: 15.29%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000; font-weight: bold;">(56,471)</div>
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          <tr>
            <td style="width: 34.37%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
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            <td style="width: 15.29%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000;">(264)</div>
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            <td style="width: 1.46%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 15.29%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000;">(330)</div>
            </td>
            <td style="width: 1.46%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 15.29%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000;">(249)</div>
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            <td style="width: 1.46%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 15.29%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000;">4,374</div>
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          <tr>
            <td style="width: 34.37%; vertical-align: bottom;">
              <div style="color: #000000; font-weight: bold;">Net&#160;loss&#160;for&#160;the&#160;period</div>
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            <td style="width: 15.29%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000; font-weight: bold;">(2,379)</div>
            </td>
            <td style="width: 1.46%; vertical-align: bottom;">&#160;</td>
            <td style="width: 15.29%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000; font-weight: bold;">(11,542)</div>
            </td>
            <td style="width: 1.46%; vertical-align: bottom;">&#160;</td>
            <td style="width: 15.29%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000; font-weight: bold;">(16,917)</div>
            </td>
            <td style="width: 1.46%; vertical-align: bottom;">&#160;</td>
            <td style="width: 15.29%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000; font-weight: bold;">(52,097)</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <div style="color: #000000;">(1) Includes stock-based compensation expenses as follows:</div>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z57f972b973c44dd881ac6304c2dea389" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

          <tr>
            <td style="width: 34.37%; vertical-align: middle;">&#160;</td>
            <td style="width: 32.13%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);" colspan="3">
              <div style="text-align: center; color: #000000; font-weight: bold;">Three&#160;months&#160;ended&#160;</div>
            </td>
            <td style="width: 1.46%; vertical-align: middle;">&#160;</td>
            <td style="width: 32.13%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);" colspan="3">
              <div style="text-align: center; color: #000000; font-weight: bold;">Nine&#160;months&#160;ended</div>
            </td>
          </tr>
          <tr>
            <td style="width: 34.37%; vertical-align: bottom;">
              <div style="color: #000000; font-style: italic;">(in&#160;US$&#160;thousands)</div>
            </td>
            <td style="width: 15.38%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; color: #000000; font-weight: bold;">September</div>
              <div style="text-align: right; color: #000000; font-weight: bold;">30,&#160;2023</div>
            </td>
            <td style="width: 1.46%; vertical-align: bottom;">&#160;</td>
            <td style="width: 15.38%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; color: #000000; font-weight: bold;">September</div>
              <div style="text-align: right; color: #000000; font-weight: bold;">30,&#160;2022</div>
            </td>
            <td style="width: 1.46%; vertical-align: bottom;">&#160;</td>
            <td style="width: 15.38%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; color: #000000; font-weight: bold;">September</div>
              <div style="text-align: right; color: #000000; font-weight: bold;">30,&#160;2023</div>
            </td>
            <td style="width: 1.46%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 15.38%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; color: #000000; font-weight: bold;">September</div>
              <div style="text-align: right; color: #000000; font-weight: bold;">30,&#160;2022</div>
            </td>
          </tr>
          <tr>
            <td style="width: 34.37%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="color: #000000;">Subscription&#160;cost</div>
            </td>
            <td style="width: 15.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000;">(90)</div>
            </td>
            <td style="width: 1.46%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 15.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000;">(171)</div>
            </td>
            <td style="width: 1.46%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 15.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000;">(196)</div>
            </td>
            <td style="width: 1.46%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 15.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000;">(338)</div>
            </td>
          </tr>
          <tr>
            <td style="width: 34.37%; vertical-align: bottom;">
              <div style="color: #000000;">Service&#160;cost</div>
            </td>
            <td style="width: 15.38%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000;">(105)</div>
            </td>
            <td style="width: 1.46%; vertical-align: bottom;">&#160;</td>
            <td style="width: 15.38%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000;">(47)</div>
            </td>
            <td style="width: 1.46%; vertical-align: bottom;">&#160;</td>
            <td style="width: 15.38%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000;">(349)</div>
            </td>
            <td style="width: 1.46%; vertical-align: bottom;">&#160;</td>
            <td style="width: 15.38%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000;">(67)</div>
            </td>
          </tr>
          <tr>
            <td style="width: 34.37%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="color: #000000;">General&#160;and&#160;administrative</div>
            </td>
            <td style="width: 15.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000;">(1,497)</div>
            </td>
            <td style="width: 1.46%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 15.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000;">(1,262)</div>
            </td>
            <td style="width: 1.46%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 15.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000;">(4,919)</div>
            </td>
            <td style="width: 1.46%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 15.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000;">(2,890)</div>
            </td>
          </tr>
          <tr>
            <td style="width: 34.37%; vertical-align: bottom;">
              <div style="color: #000000;">Sales&#160;and&#160;marketing</div>
            </td>
            <td style="width: 15.38%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000;">(967)</div>
            </td>
            <td style="width: 1.46%; vertical-align: bottom;">&#160;</td>
            <td style="width: 15.38%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000;">(1,261)</div>
            </td>
            <td style="width: 1.46%; vertical-align: bottom;">&#160;</td>
            <td style="width: 15.38%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000;">(3,336)</div>
            </td>
            <td style="width: 1.46%; vertical-align: bottom;">&#160;</td>
            <td style="width: 15.38%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000;">(1,743)</div>
            </td>
          </tr>
          <tr>
            <td style="width: 34.37%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="color: #000000;">Research&#160;and&#160;development</div>
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            <td style="width: 15.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000;">(1,934)</div>
            </td>
            <td style="width: 1.46%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 15.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000;">(2,027)</div>
            </td>
            <td style="width: 1.46%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 15.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000;">(5,598)</div>
            </td>
            <td style="width: 1.46%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 15.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000;">(3,128)</div>
            </td>
          </tr>
          <tr>
            <td style="width: 34.37%; vertical-align: bottom;">
              <div style="color: #000000; font-weight: bold;">Total</div>
            </td>
            <td style="width: 15.38%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000; font-weight: bold;">(4,593)</div>
            </td>
            <td style="width: 1.46%; vertical-align: bottom;">&#160;</td>
            <td style="width: 15.38%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000; font-weight: bold;">(4,768)</div>
            </td>
            <td style="width: 1.46%; vertical-align: bottom;">&#160;</td>
            <td style="width: 15.38%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000; font-weight: bold;">(14,398)</div>
            </td>
            <td style="width: 1.46%; vertical-align: bottom;">&#160;</td>
            <td style="width: 15.38%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000; font-weight: bold;">(8,166)</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <div><br>
      </div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
        <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-weight: normal; font-style: normal;" class="BRPFPageNumber">35</font></div>
        <div style="page-break-after: always;" class="BRPFPageBreak">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        <div style="width: 100%;" class="BRPFPageHeader"></div>
      </div>
      <div style="margin-left: 36pt; color: #000000; font-style: italic; font-weight: bold;"> <br>
      </div>
      <div style="margin-left: 36pt; color: #000000; font-style: italic; font-weight: bold;">Total revenue</div>
      <div>&#160;</div>
      <div style="text-indent: 36pt; color: #000000;">The components of our total revenue during the three and nine-month periods ended on September 30, 2023 and 2022 were as follows:</div>
      <div>&#160;</div>
      <table cellspacing="0" cellpadding="0" id="z1a7e0cdcc77349928c08391b4213ded8" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

          <tr>
            <td style="width: 30.86%; vertical-align: bottom;">&#160;</td>
            <td style="width: 32.94%; vertical-align: middle; border-bottom: #000000 2px solid;" colspan="3">
              <div style="text-align: center; color: #000000; font-weight: bold;">Three&#160;months&#160;ended&#160;&#160;&#160;&#160;</div>
            </td>
            <td style="width: 3.27%; vertical-align: bottom;">&#160;</td>
            <td style="width: 32.94%; vertical-align: middle; border-bottom: #000000 2px solid;" colspan="3">
              <div style="text-align: center; color: #000000; font-weight: bold;">Nine&#160;months&#160;ended</div>
            </td>
          </tr>
          <tr>
            <td style="width: 30.86%; vertical-align: bottom;">
              <div style="color: #000000; font-size: 8pt; font-style: italic;">(in&#160;US$&#160;thousands,</div>
              <div style="color: #000000; font-size: 8pt; font-style: italic;">except&#160;percentages)</div>
            </td>
            <td style="width: 11%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #000000; font-weight: bold;">September</div>
              <div style="text-align: center; color: #000000; font-weight: bold;">30,&#160;2023</div>
            </td>
            <td style="width: 11%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #000000; font-weight: bold;">September</div>
              <div style="text-align: center; color: #000000; font-weight: bold;">30,&#160;2022</div>
            </td>
            <td style="width: 10.94%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #000000; font-weight: bold;">Variation</div>
            </td>
            <td style="width: 3.27%; vertical-align: bottom;">&#160;</td>
            <td style="width: 11%; vertical-align: middle; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #000000; font-weight: bold;">September</div>
              <div style="text-align: center; color: #000000; font-weight: bold;">30,&#160;2023</div>
            </td>
            <td style="width: 11%; vertical-align: middle; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #000000; font-weight: bold;">September</div>
              <div style="text-align: center; color: #000000; font-weight: bold;">30,&#160;2022</div>
            </td>
            <td style="width: 10.94%; vertical-align: middle; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #000000; font-weight: bold;">Variation</div>
            </td>
          </tr>
          <tr>
            <td style="width: 30.86%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="color: #000000;">Subscription&#160;revenue</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000;">47,544</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000;">36,513</div>
            </td>
            <td style="width: 10.94%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000;">30.2%</div>
            </td>
            <td style="width: 3.27%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000;">132,078</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000;">105,743</div>
            </td>
            <td style="width: 10.94%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000;">24.9%</div>
            </td>
          </tr>
          <tr>
            <td style="width: 30.86%; vertical-align: bottom;">
              <div style="color: #000000;">Services&#160;revenue</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000;">3,084</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000;">2,241</div>
            </td>
            <td style="width: 10.94%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000;">37.6%</div>
            </td>
            <td style="width: 3.27%; vertical-align: bottom;">&#160;</td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000;">8,718</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000;">6,392</div>
            </td>
            <td style="width: 10.94%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000;">36.4%</div>
            </td>
          </tr>
          <tr>
            <td style="width: 30.86%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="color: #000000; font-weight: bold;">Total&#160;revenue</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-weight: bold;">50,628</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-weight: bold;">38,754</div>
            </td>
            <td style="width: 10.94%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-weight: bold;">30.6%</div>
            </td>
            <td style="width: 3.27%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-weight: bold;">140,796</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-weight: bold;">112,135</div>
            </td>
            <td style="width: 10.94%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-weight: bold;">25.6%</div>
            </td>
          </tr>
          <tr>
            <td style="width: 30.86%; vertical-align: bottom;">&#160;</td>
            <td style="width: 11%; vertical-align: bottom;">&#160;</td>
            <td style="width: 11%; vertical-align: bottom;">&#160;</td>
            <td style="width: 10.94%; vertical-align: bottom;">&#160;</td>
            <td style="width: 3.27%; vertical-align: bottom;">&#160;</td>
            <td style="width: 11%; vertical-align: bottom;">&#160;</td>
            <td style="width: 11%; vertical-align: bottom;">&#160;</td>
            <td style="width: 10.94%; vertical-align: bottom;">&#160;</td>
          </tr>

      </table>
      <div><br>
      </div>
      <div style="text-align: justify; text-indent: 36pt; color: #000000;">Total revenue for the three-month period ended September 30, 2023 was US$50.6 million, an increase of US$11.9 million, or 30.6% in US$ or 24.5% on an FX neutral basis, from US$38.8
        million in the same period of 2022. The increase in total revenue was primarily driven by: an increase in GMV of 35.2% in US$ or 27.8% on an FX neutral basis to US$4.0 billion for the three-month period ended September 30, 2023, from US$3.0 billion
        in the same period of 2022, which also led to higher revenues from transaction-based fees as percentage of total subscription revenues and the expansion of our operations outside of Brazil.</div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; color: #000000;">Total revenue for the nine-month period ended September 30, 2023 was US$140.8 million, an increase of&#160; US$28.7&#160; million, or 25.6% in US$ or 23.2% on an FX neutral basis, from
        US$112.1 million in the same period of 2022. The increase in total revenue was primarily driven by: an increase in GMV of 26.8% in US$ or 23.2% on an FX neutral basis to US$11.1 billion for the nine-month period ended September 30, 2023, from
        US$8.8 billion in the same period of 2022, which also led to higher revenues from transaction-based fees as percentage of total subscription revenues and the expansion of our operations outside of Brazil.</div>
      <div>&#160;</div>
      <div> <br>
      </div>
      <div style="text-align: justify; margin-left: 36pt; color: #000000; font-style: italic; font-weight: bold;">Total cost</div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; color: #000000;">The components of our total cost during the three and nine-month periods ended on September 30, 2023 and 2022 were as follows:</div>
      <div>&#160;</div>
      <table cellspacing="0" cellpadding="0" id="z654ea1d60d044f619db0f871552b2396" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

          <tr>
            <td style="width: 30.16%; vertical-align: bottom;">&#160;</td>
            <td style="width: 32.21%; vertical-align: middle; border-bottom: #000000 2px solid;" colspan="3">
              <div style="text-align: center; color: #000000; font-weight: bold;">Three&#160;months&#160;ended&#160;&#160;&#160;&#160;</div>
            </td>
            <td style="width: 3.21%; vertical-align: bottom;">&#160;</td>
            <td style="width: 34.42%; vertical-align: middle; border-bottom: #000000 2px solid;" colspan="3">
              <div style="text-align: center; color: #000000; font-weight: bold;">Nine&#160;months&#160;ended</div>
            </td>
          </tr>
          <tr>
            <td style="width: 30.16%; vertical-align: bottom;">
              <div style="color: #000000; font-size: 8pt; font-style: italic;">(in&#160;US$&#160;thousands,&#160;</div>
              <div style="color: #000000; font-size: 8pt; font-style: italic;">except&#160;percentages)</div>
            </td>
            <td style="width: 10.76%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #000000; font-weight: bold;">September</div>
              <div style="text-align: center; color: #000000; font-weight: bold;">30,&#160;2023</div>
            </td>
            <td style="width: 10.76%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #000000; font-weight: bold;">September</div>
              <div style="text-align: center; color: #000000; font-weight: bold;">30,&#160;2022</div>
            </td>
            <td style="width: 10.7%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #000000; font-weight: bold;">Variation</div>
            </td>
            <td style="width: 3.21%; vertical-align: middle;">&#160;</td>
            <td style="width: 11.49%; vertical-align: middle; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #000000; font-weight: bold;">September</div>
              <div style="text-align: center; color: #000000; font-weight: bold;">30,&#160;2023</div>
            </td>
            <td style="width: 11.49%; vertical-align: middle; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #000000; font-weight: bold;">September</div>
              <div style="text-align: center; color: #000000; font-weight: bold;">30,&#160;2022</div>
            </td>
            <td style="width: 11.44%; vertical-align: middle; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #000000; font-weight: bold;">Variation</div>
            </td>
          </tr>
          <tr>
            <td style="width: 30.16%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="color: #000000;">Subscription&#160;cost</div>
            </td>
            <td style="width: 10.76%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; color: #000000;">(11,395)</div>
            </td>
            <td style="width: 10.76%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; color: #000000;">(9,755)</div>
            </td>
            <td style="width: 10.7%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; color: #000000;">16.8%</div>
            </td>
            <td style="width: 3.21%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 11.49%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000;">(32,948)</div>
            </td>
            <td style="width: 11.49%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000;">(29,917)</div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000;">10.1%</div>
            </td>
          </tr>
          <tr>
            <td style="width: 30.16%; vertical-align: bottom;">
              <div style="color: #000000;">Services&#160;cost</div>
            </td>
            <td style="width: 10.76%; vertical-align: bottom;">
              <div style="text-align: center; color: #000000;">(3,625)</div>
            </td>
            <td style="width: 10.76%; vertical-align: bottom;">
              <div style="text-align: center; color: #000000;">(2,872)</div>
            </td>
            <td style="width: 10.7%; vertical-align: bottom;">
              <div style="text-align: center; color: #000000;">26.2%</div>
            </td>
            <td style="width: 3.21%; vertical-align: bottom;">&#160;</td>
            <td style="width: 11.49%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000;">(12,144)</div>
            </td>
            <td style="width: 11.49%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000;">(8,321)</div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000;">45.9%</div>
            </td>
          </tr>
          <tr>
            <td style="width: 30.16%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="color: #000000; font-weight: bold;">Total&#160;cost</div>
            </td>
            <td style="width: 10.76%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; color: #000000; font-weight: bold;">(15,020)</div>
            </td>
            <td style="width: 10.76%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; color: #000000; font-weight: bold;">(12,627)</div>
            </td>
            <td style="width: 10.7%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; color: #000000; font-weight: bold;">19.0%</div>
            </td>
            <td style="width: 3.21%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 11.49%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-weight: bold;">(45,092)</div>
            </td>
            <td style="width: 11.49%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-weight: bold;">(38,238)</div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-weight: bold;">17.9%</div>
            </td>
          </tr>

      </table>
      <div style="text-align: justify; text-indent: 21.3pt; color: #000000;"> <br>
      </div>
      <div style="text-align: justify; text-indent: 21.3pt; color: #000000;">Total cost for the three-month period ended September 30, 2023 increased by US$2.4 million, or 19.0%, to US$15.0 million from US$12.6 million in the same period of 2022, mainly
        due to an increase in total cost of subscription by US$1.6 million.</div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 21.3pt; color: #000000;">Total cost for the nine-month period ended September 30, 2023 increased by US$6.9 million, or 17.9%, to US$45.1 million from US$38.2 million in the same period of 2022, mainly due
        to an increase in total cost of services by US$ 3.0 million.</div>
      <div style="text-align: justify; text-indent: 21.3pt; color: #000000;"> <br>
      </div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
        <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-weight: normal; font-style: normal;" class="BRPFPageNumber">36</font></div>
        <div style="page-break-after: always;" class="BRPFPageBreak">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        <div style="width: 100%;" class="BRPFPageHeader"></div>
      </div>
      <div>&#160;</div>
      <div style="text-align: justify; margin-left: 36pt; color: #000000; font-style: italic; font-weight: bold;">Gross profit</div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; color: #000000;">As a result of the above, our gross profit increased by US$9.5 million, or 36.3% to US$35.6 million for the three-month period ended September 30, 2023 from US$26.1 million in the
        same period of 2022. As a percentage of our total revenue, our gross profit increased to 70.3% in the three-month period ended September 30, 2023 from 67.4% in the same period of 2022, mainly due to operational hosting cost efficiencies.</div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; color: #000000;">Our gross profit increased by US$21.8 million, or 29.5% to US$95.7 million for the nine-month period ended September 30, 2023 from US$73.9 million in the same period of 2022. As a
        percentage of our total revenue, our gross profit increased to 68.0% in the nine-month period ended September 30, 2023 from 65.9% in the same period of 2022, mainly due to operational hosting cost efficiencies.</div>
      <div>&#160;</div>
      <div style="margin-left: 36pt; color: #000000; font-style: italic; font-weight: bold;">Operating expenses</div>
      <div>&#160;</div>
      <div style="margin-left: 36pt; color: #000000; font-style: italic;"><u>General and administrative</u></div>
      <div>&#160;</div>
      <div style="text-indent: 36pt; color: #000000;">General and administrative expenses during the three and nine-month periods ended on September 30, 2023 and 2022 were as follows:</div>
      <div>&#160;</div>
      <table cellspacing="0" cellpadding="0" id="z9810f1216f86490aabbe0a3d164fd92d" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

          <tr>
            <td style="width: 31.22%; vertical-align: bottom;">&#160;</td>
            <td style="width: 33.14%; vertical-align: middle; border-bottom: #000000 2px solid;" colspan="3">
              <div style="text-align: center; color: #000000; font-weight: bold;">Three&#160;months&#160;ended&#160;&#160;&#160;&#160;</div>
            </td>
            <td style="width: 2.5%; vertical-align: middle;">&#160;</td>
            <td style="width: 33.14%; vertical-align: middle; border-bottom: #000000 2px solid;" colspan="3">
              <div style="text-align: center; color: #000000; font-weight: bold;">Nine&#160;months&#160;ended</div>
            </td>
          </tr>
          <tr>
            <td style="width: 31.22%; vertical-align: bottom;">
              <div style="color: #000000; font-size: 8pt; font-style: italic;">(in&#160;US$&#160;thousands,</div>
              <div style="color: #000000; font-size: 8pt; font-style: italic;">except&#160;percentages)</div>
            </td>
            <td style="width: 11.07%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #000000; font-weight: bold;">September</div>
              <div style="text-align: center; color: #000000; font-weight: bold;">30,&#160;2023</div>
            </td>
            <td style="width: 11.07%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #000000; font-weight: bold;">September</div>
              <div style="text-align: center; color: #000000; font-weight: bold;">30,&#160;2022</div>
            </td>
            <td style="width: 11%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #000000; font-weight: bold;">Variation</div>
            </td>
            <td style="width: 2.5%; vertical-align: middle;">&#160;</td>
            <td style="width: 11.07%; vertical-align: middle; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #000000; font-weight: bold;">September</div>
              <div style="text-align: center; color: #000000; font-weight: bold;">30,&#160;2023</div>
            </td>
            <td style="width: 11.07%; vertical-align: middle; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #000000; font-weight: bold;">September</div>
              <div style="text-align: center; color: #000000; font-weight: bold;">30,&#160;2022</div>
            </td>
            <td style="width: 11%; vertical-align: middle; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #000000; font-weight: bold;">Variation</div>
            </td>
          </tr>
          <tr>
            <td style="width: 31.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="color: #000000;">General&#160;and&#160;administrative</div>
            </td>
            <td style="width: 11.07%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; color: #000000;">(8,374)</div>
            </td>
            <td style="width: 11.07%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; color: #000000;">(6,944)</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; color: #000000;">20.6%</div>
            </td>
            <td style="width: 2.5%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 11.07%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000;">(24,541)</div>
            </td>
            <td style="width: 11.07%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000;">(21,296)</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000;">15.2%</div>
            </td>
          </tr>
          <tr>
            <td style="width: 31.22%; vertical-align: bottom;">
              <div style="color: #000000;">Percentage&#160;of&#160;total&#160;revenue</div>
            </td>
            <td style="width: 11.07%; vertical-align: bottom;">
              <div style="text-align: center; color: #000000;">(16.5)%</div>
            </td>
            <td style="width: 11.07%; vertical-align: bottom;">
              <div style="text-align: center; color: #000000;">(17.9)%</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: center; color: #000000;">-</div>
            </td>
            <td style="width: 2.5%; vertical-align: bottom;">&#160;</td>
            <td style="width: 11.07%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000;">(17.4)%</div>
            </td>
            <td style="width: 11.07%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000;">(19.0)%</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000;">-</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <div style="text-align: justify; text-indent: 36pt; color: #000000;">Our general and administrative expenses increased by US$1.4 million, or 20.6%, to US$8.4 million for the three-month period ended September 30, 2023 from US$6.9 million in the same
        period of 2022, primarily due to the increase in expenses related to compensation, including&#160;share-based compensation.</div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; color: #000000;">For the nine-month period ended September 30, 2023, our general and administrative expenses increased by US$3.2 million, or 15.2%, to US$24.5 million from US$21.2 million in the
        same period of 2022, primarily due to the increase in expenses related to compensation, including share-based compensation.</div>
      <div>&#160;</div>
      <div style="margin-left: 36pt; color: #000000; font-style: italic;"><u>Sales and marketing</u></div>
      <div>&#160;</div>
      <div style="text-indent: 36pt; color: #000000;">Sales and marketing expenses during the three and nine-month periods ended September 30, 2023 and 2022 were as follows:</div>
      <div>&#160;</div>
      <table cellspacing="0" cellpadding="0" id="z2d663b003ad64a07b4e20cf59602f1ca" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

          <tr>
            <td style="width: 31.22%; vertical-align: bottom;">&#160;</td>
            <td style="width: 33.14%; vertical-align: middle; border-bottom: #000000 2px solid;" colspan="3">
              <div style="text-align: center; color: #000000; font-weight: bold;">Three&#160;months&#160;ended&#160;&#160;&#160;&#160;</div>
            </td>
            <td style="width: 2.5%; vertical-align: middle;">&#160;</td>
            <td style="width: 33.14%; vertical-align: middle; border-bottom: #000000 2px solid;" colspan="3">
              <div style="text-align: center; color: #000000; font-weight: bold;">Nine&#160;months&#160;ended</div>
            </td>
          </tr>
          <tr>
            <td style="width: 31.22%; vertical-align: bottom;">
              <div style="color: #000000; font-size: 8pt; font-style: italic;">(in&#160;US$&#160;thousands,</div>
              <div style="color: #000000; font-size: 8pt; font-style: italic;">except&#160;percentages)</div>
            </td>
            <td style="width: 11.07%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #000000; font-weight: bold;">September</div>
              <div style="text-align: center; color: #000000; font-weight: bold;">30,&#160;2023</div>
            </td>
            <td style="width: 11.07%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #000000; font-weight: bold;">September</div>
              <div style="text-align: center; color: #000000; font-weight: bold;">30,&#160;2022</div>
            </td>
            <td style="width: 11%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #000000; font-weight: bold;">Variation</div>
            </td>
            <td style="width: 2.5%; vertical-align: middle;">&#160;</td>
            <td style="width: 11.07%; vertical-align: middle; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #000000; font-weight: bold;">September</div>
              <div style="text-align: center; color: #000000; font-weight: bold;">30,&#160;2023</div>
            </td>
            <td style="width: 11.07%; vertical-align: middle; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #000000; font-weight: bold;">September</div>
              <div style="text-align: center; color: #000000; font-weight: bold;">30,&#160;2022</div>
            </td>
            <td style="width: 11%; vertical-align: middle; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #000000; font-weight: bold;">Variation</div>
            </td>
          </tr>
          <tr>
            <td style="width: 31.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="color: #000000;">Sales&#160;and&#160;marketing</div>
            </td>
            <td style="width: 11.07%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; color: #000000;">(15,101)</div>
            </td>
            <td style="width: 11.07%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; color: #000000;">(16,176)</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; color: #000000;">(6.6%)</div>
            </td>
            <td style="width: 2.5%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 11.07%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000;">(44,332)</div>
            </td>
            <td style="width: 11.07%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000;">(55,394)</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000;">(20.0)%</div>
            </td>
          </tr>
          <tr>
            <td style="width: 31.22%; vertical-align: bottom;">
              <div style="color: #000000;">Percentage&#160;of&#160;total&#160;revenue</div>
            </td>
            <td style="width: 11.07%; vertical-align: bottom;">
              <div style="text-align: center; color: #000000;">(29.8)%</div>
            </td>
            <td style="width: 11.07%; vertical-align: bottom;">
              <div style="text-align: center; color: #000000;">(41.7)%</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: center; color: #000000;">-</div>
            </td>
            <td style="width: 2.5%; vertical-align: bottom;">&#160;</td>
            <td style="width: 11.07%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000;">(31.5)%</div>
            </td>
            <td style="width: 11.07%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000;">(49.4)%</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000;">-</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <div style="text-align: justify; text-indent: 36pt; color: #000000;">Our sales and marketing expenses decreased by US$1.1 million, or 6.6%, to US$15.1 million for the three-month period ended September 30, 2023 from US$16.2 million in the same period
        of 2022, primarily due to the decrease in expenses related to compensation due to the reduction in our sales and marketing workforce as a result of the Company&#8217;s efforts to optimize its structure.</div>
      <div style="text-align: justify; text-indent: 36pt; color: #000000;"> <br>
      </div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
        <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-weight: normal; font-style: normal;" class="BRPFPageNumber">37</font></div>
        <div style="page-break-after: always;" class="BRPFPageBreak">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        <div style="width: 100%;" class="BRPFPageHeader"></div>
      </div>
      <div style="text-align: justify; text-indent: 36pt; color: #000000;"> <br>
      </div>
      <div style="text-align: justify; text-indent: 36pt; color: #000000;">For the nine-month period ended September 30, 2023, our sales and marketing expenses decreased by US$11.1 million, or 20.0%, to US$44.3 million from US$55.4 million for the same
        period of 2022, primarily due to (1) the decrease in expenses related to compensation due to the reduction in our sales and marketing workforce as a result of the Company&#8217;s efforts to optimize its structure, (2) the decrease in marketing and events
        expenses and (3) the decrease in outsourcing expenses, which was partially offset by the increase in expenses related to share-based compensation.</div>
      <div>&#160;</div>
      <div><br>
      </div>
      <div style="text-align: justify; margin-left: 36pt; color: #000000; font-style: italic;"><u>Research and development</u></div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; color: #000000;">Research and development expenses during the three and nine-month periods ended on September 30, 2023 and 2022 were as follows:</div>
      <div>&#160;</div>
      <table cellspacing="0" cellpadding="0" id="z1ee424cc957141b2b9573b08b0362d39" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

          <tr>
            <td style="width: 31.22%; vertical-align: middle;">&#160;</td>
            <td style="width: 33.14%; vertical-align: middle; border-bottom: #000000 2px solid;" colspan="3">
              <div style="text-align: center; color: #000000; font-weight: bold;">Three&#160;months&#160;ended&#160;&#160;&#160;&#160;</div>
            </td>
            <td style="width: 2.5%; vertical-align: middle;">&#160;</td>
            <td style="width: 33.14%; vertical-align: middle; border-bottom: #000000 2px solid;" colspan="3">
              <div style="text-align: center; color: #000000; font-weight: bold;">Nine&#160;months&#160;ended</div>
            </td>
          </tr>
          <tr>
            <td style="width: 31.22%; vertical-align: middle;">
              <div style="color: #000000; font-size: 8pt; font-style: italic;">(in&#160;US$&#160;thousands,</div>
              <div style="color: #000000; font-size: 8pt; font-style: italic;">except&#160;percentages)</div>
            </td>
            <td style="width: 11.07%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #000000; font-weight: bold;">September</div>
              <div style="text-align: center; color: #000000; font-weight: bold;">30,&#160;2023</div>
            </td>
            <td style="width: 11.07%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #000000; font-weight: bold;">September</div>
              <div style="text-align: center; color: #000000; font-weight: bold;">30,&#160;2022</div>
            </td>
            <td style="width: 11%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #000000; font-weight: bold;">Variation</div>
            </td>
            <td style="width: 2.5%; vertical-align: middle;">&#160;</td>
            <td style="width: 11.07%; vertical-align: middle; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #000000; font-weight: bold;">September</div>
              <div style="text-align: center; color: #000000; font-weight: bold;">30,&#160;2023</div>
            </td>
            <td style="width: 11.07%; vertical-align: middle; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #000000; font-weight: bold;">September</div>
              <div style="text-align: center; color: #000000; font-weight: bold;">30,&#160;2022</div>
            </td>
            <td style="width: 11%; vertical-align: middle; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #000000; font-weight: bold;">Variation</div>
            </td>
          </tr>
          <tr>
            <td style="width: 31.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="color: #000000;">Research&#160;and&#160;development</div>
            </td>
            <td style="width: 11.07%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000;">(15,508)</div>
            </td>
            <td style="width: 11.07%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000;">(13,812)</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000;">12.3%</div>
            </td>
            <td style="width: 2.5%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 11.07%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000;">(45,772)</div>
            </td>
            <td style="width: 11.07%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000;">(43,146)</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000;">6.1%</div>
            </td>
          </tr>
          <tr>
            <td style="width: 31.22%; vertical-align: bottom;">
              <div style="color: #000000;">Percentage&#160;of&#160;total&#160;revenue</div>
            </td>
            <td style="width: 11.07%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000;">(30.6)%</div>
            </td>
            <td style="width: 11.07%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000;">(35.6)%</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000;">-</div>
            </td>
            <td style="width: 2.5%; vertical-align: bottom;">&#160;</td>
            <td style="width: 11.07%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000;">(32.5)%</div>
            </td>
            <td style="width: 11.07%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000;">(38.5)%</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000;">-</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <div style="text-align: justify; text-indent: 36pt; color: #000000;">Our research and development expenses increased by US$1.7 million, or 12.3% to US$15.5 million for the three-month period ended September 30, 2023 from US$13.8 million in the same
        period of 2022, primarily due to the increase in expenses related to compensation.</div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; color: #000000;">For the nine-month period ended September 30, 2023, our research and development expenses increased by US$2.6 million, or 6.1%, to US$45.8 million from US$43.1 million in the same
        period of 2022, primarily due to (1) the increase in expenses related to share-based compensation and (2) the increase in outsourcing expenses, which was partially offset by (3) the decrease in other expenses related to compensation and (4) the
        decrease in IT expenses.</div>
      <div>&#160;</div>
      <div> <br>
      </div>
      <div style="margin-left: 36pt; color: #000000; font-style: italic; font-weight: bold;">Financial results</div>
      <div>&#160;</div>
      <div style="text-align: justify; color: #000000;">The components of our financial results during the three and nine-month periods ended September 30, 2023 and 2022 were as follows:</div>
      <div>&#160;</div>
      <table cellspacing="0" cellpadding="0" id="zf9e94e6828b94e25bee96ece97f2517f" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

          <tr>
            <td style="width: 30.2%; vertical-align: bottom;">&#160;</td>
            <td style="width: 32.92%; vertical-align: middle; border-bottom: #000000 2px solid;" colspan="3">
              <div style="text-align: center; color: #000000; font-weight: bold;">Three&#160;months&#160;ended&#160;&#160;&#160;&#160;</div>
            </td>
            <td style="width: 2.47%; vertical-align: bottom;">&#160;</td>
            <td style="width: 34.41%; vertical-align: middle; border-bottom: #000000 2px solid;" colspan="3">
              <div style="text-align: center; color: #000000; font-weight: bold;">Nine&#160;months&#160;ended</div>
            </td>
          </tr>
          <tr>
            <td style="width: 30.2%; vertical-align: bottom;">
              <div style="color: #000000; font-size: 8pt; font-style: italic;">(in&#160;US$&#160;thousands,</div>
              <div style="color: #000000; font-size: 8pt; font-style: italic;">except&#160;percentages)</div>
            </td>
            <td style="width: 10.75%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #000000; font-weight: bold;">September</div>
              <div style="text-align: center; color: #000000; font-weight: bold;">30,&#160;2023</div>
            </td>
            <td style="width: 10.75%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #000000; font-weight: bold;">September</div>
              <div style="text-align: center; color: #000000; font-weight: bold;">30,&#160;2022</div>
            </td>
            <td style="width: 11.43%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #000000; font-weight: bold;">Variation</div>
            </td>
            <td style="width: 2.47%; vertical-align: bottom;">&#160;</td>
            <td style="width: 11.49%; vertical-align: middle; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #000000; font-weight: bold;">September</div>
              <div style="text-align: center; color: #000000; font-weight: bold;">30,&#160;2023</div>
            </td>
            <td style="width: 11.49%; vertical-align: middle; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #000000; font-weight: bold;">September</div>
              <div style="text-align: center; color: #000000; font-weight: bold;">30,&#160;2022</div>
            </td>
            <td style="width: 11.43%; vertical-align: middle; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #000000; font-weight: bold;">Variation</div>
            </td>
          </tr>
          <tr>
            <td style="width: 30.2%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="color: #000000;">Financial&#160;income</div>
            </td>
            <td style="width: 10.75%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; color: #000000;">8,974</div>
            </td>
            <td style="width: 10.75%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; color: #000000;">7,137</div>
            </td>
            <td style="width: 11.43%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; color: #000000;">25.7%</div>
            </td>
            <td style="width: 2.47%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 11.49%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000;">25,573</div>
            </td>
            <td style="width: 11.49%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000;">16,125</div>
            </td>
            <td style="width: 11.43%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000;">58.6%</div>
            </td>
          </tr>
          <tr>
            <td style="width: 30.2%; vertical-align: bottom;">
              <div style="color: #000000;">Financial&#160;expense</div>
            </td>
            <td style="width: 10.75%; vertical-align: bottom;">
              <div style="text-align: center; color: #000000;">(7,896)</div>
            </td>
            <td style="width: 10.75%; vertical-align: bottom;">
              <div style="text-align: center; color: #000000;">(7,327)</div>
            </td>
            <td style="width: 11.43%; vertical-align: bottom;">
              <div style="text-align: center; color: #000000;">7.8%</div>
            </td>
            <td style="width: 2.47%; vertical-align: bottom;">&#160;</td>
            <td style="width: 11.49%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000;">(22,925)</div>
            </td>
            <td style="width: 11.49%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000;">(26,462)</div>
            </td>
            <td style="width: 11.43%; vertical-align: bottom;">
              <div style="text-align: right; color: #000000;">(13.4)%</div>
            </td>
          </tr>
          <tr>
            <td style="width: 30.2%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="color: #000000; font-weight: bold;">Financial&#160;result,&#160;net</div>
            </td>
            <td style="width: 10.75%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; color: #000000; font-weight: bold;">1,078</div>
            </td>
            <td style="width: 10.75%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; color: #000000; font-weight: bold;">(190)</div>
            </td>
            <td style="width: 11.43%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: center; color: #000000; font-weight: bold;">(667.4)%</div>
            </td>
            <td style="width: 2.47%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 11.49%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-weight: bold;">2,648</div>
            </td>
            <td style="width: 11.49%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-weight: bold;">(10,337)</div>
            </td>
            <td style="width: 11.43%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000; font-weight: bold;">(125.6)%</div>
            </td>
          </tr>

      </table>
      <div style="text-align: justify; text-indent: 36pt; color: #000000;"> <br>
      </div>
      <div style="text-align: justify; text-indent: 36pt; color: #000000;">Our financial result amounted to a revenue of US$1.1 million for the three-month period ended September 30, 2023, compared to an expense of US$0.2 million in the same period of 2022</div>
      <div style="text-align: justify; text-indent: 36pt; color: #000000;"> <br>
      </div>
      <div style="text-align: justify; text-indent: 36pt; color: #000000;">Our financial result amounted to a revenue of US$2.6 million for the nine-month period ended September 30, 2023, compared to an expense of US$10.3 million in the same period of
        2022.</div>
      <div style="text-align: justify; text-indent: 36pt; color: #000000;"> <br>
      </div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
        <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-weight: normal; font-style: normal;" class="BRPFPageNumber">38</font></div>
        <div style="page-break-after: always;" class="BRPFPageBreak">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        <div style="width: 100%;" class="BRPFPageHeader"></div>
      </div>
      <div>&#160;</div>
      <div> <br>
      </div>
      <div style="text-align: justify; text-indent: 36pt; color: #000000; font-style: italic;"><u>Explanations for the variations in the above referred period are set forth below:&#160;</u></div>
      <div>&#160;</div>
      <div style="text-align: justify; margin-left: 36pt; color: #000000; font-style: italic;"><u>Financial income</u></div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; color: #000000;">Financial income increased by US$1.8 million, or 25.7%, to US$9.0 million for the three-month period ended September 30, 2023 from US$7.1 million in the same period of 2022, mainly
        due to (1) an increase in interest and dividends earned on bank deposits and financial investments to US$4.8 million in September 30, 2023 from US$0.3 million in September 30, 2022, which was partially offset by (2) a decrease in short-term
        investments gains to US$1.8 million in September 30, 2023 from US$3.9 million in September 30, 2022 and; (3) a decrease in foreign&#160;exchange&#160;gains to US$1.1 million in September 30, 2023 from US$2.1 million in September 30, 2022.</div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; color: #000000;">Financial income increased by US$9.4 million, or 58.6%, to US$25.6 million for the nine-month period ended September 30, 2023 from US$16.1 million in the same period of 2022, mainly
        due to (1) an increase in interest and dividends earned on bank deposits and financial investments to US$9.3 million in September 30, 2023 from US$0.6 million in September 30, 2022 and; (2) an increase in short term investments gains to US$8.3
        million in September 30, 2023 from US$5.3 million in September 30, 2022, which was partially offset by (3) a decrease in gains from fair value of financial instruments to US$1.9 million in September 30, 2023 from US$4.1 million in September 30,
        2022.</div>
      <div>&#160;</div>
      <div style="text-align: justify; margin-left: 36pt; color: #000000; font-style: italic;"><u>Financial expense</u></div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; color: #000000;">Financial expense increased by US$0.6 million, or 7.8%, to US$7.9 million for the three-month period ended September 30, 2023 from US$7.3 million in the same period of 2022, mainly
        due to (1) an increase in adjustment of hyperinflation to US$5.4 million in September 30, 2023 from US$1.7 million in September 30, 2022, which was partially offset by (2) a decrease in short-term investment losses to US$0.2 million in September
        30, 2023 from US$3.2 million in September 30, 2022;</div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; color: #000000;">Financial expense decreased by US$3.5 million, or 13.4%, to US$22.9 million for the nine-month period ended September 30, 2023 from US$26.5 million in the same period of 2022,
        mainly due to (1) the decrease in short-term investment losses to US$1.4 million in September 30, 2023 from US$13.7 million in September 30, 2022 and; (2) the decrease in losses from fair value of financial instruments to US$1.0 million in
        September 30, 2023 from US$2.3 million in September 30, 2022, which was partially offset by (3) an increase in foreign exchange losses to US$9.4 million in September 30, 2023 from US$5.6 million in September 30, 2022 and; (4) an increase in
        adjustment of hyperinflation to US$10.2 million in September 30, 2023 from US$3.8 million in September 30, 2022.</div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; color: #000000;">The following tables show the unrealized gain and loss position recorded in our Balance Sheet as at September 30, 2023 and December 31, 2022:</div>
      <div>&#160;</div>
      <table cellspacing="0" cellpadding="0" id="z186cd70d351b429084e81827e5563e02" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

          <tr>
            <td style="width: 29.9%; vertical-align: bottom;">&#160;</td>
            <td style="width: 2.4%; vertical-align: bottom;">&#160;</td>
            <td style="width: 67.7%; vertical-align: bottom;" colspan="7">
              <div style="text-align: center; color: #000000; font-weight: bold;">As&#160;at&#160;September&#160;30,&#160;2023&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 29.9%; vertical-align: bottom;">&#160;</td>
            <td style="width: 2.4%; vertical-align: bottom;">&#160;</td>
            <td style="width: 15.16%; vertical-align: middle; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #000000; font-weight: bold;">Amortized&#160;cost</div>
            </td>
            <td style="width: 2.4%; vertical-align: bottom; border-top: #000000 2px solid;">&#160;</td>
            <td style="width: 15.16%; vertical-align: middle; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #000000; font-weight: bold;">Gross</div>
              <div style="text-align: center; color: #000000; font-weight: bold;">unrealized&#160;gain</div>
            </td>
            <td style="width: 2.4%; vertical-align: bottom; border-top: #000000 2px solid;">&#160;</td>
            <td style="width: 15.16%; vertical-align: middle; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #000000; font-weight: bold;">Gross</div>
              <div style="text-align: center; color: #000000; font-weight: bold;">unrealized&#160;loss</div>
            </td>
            <td style="width: 2.4%; vertical-align: bottom; border-top: #000000 2px solid;">&#160;</td>
            <td style="width: 15.03%; vertical-align: middle; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #000000; font-weight: bold;">Fair&#160;value</div>
            </td>
          </tr>
          <tr>
            <td style="width: 29.9%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="color: #000000;">Short-term&#160;investments</div>
            </td>
            <td style="width: 2.4%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 15.16%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000;">91,597</div>
            </td>
            <td style="width: 2.4%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 15.16%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000;">3,862</div>
            </td>
            <td style="width: 2.4%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 15.16%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000;">-</div>
            </td>
            <td style="width: 2.4%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 15.03%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000;">95,459</div>
            </td>
          </tr>
          <tr>
            <td style="width: 29.9%; vertical-align: middle;">&#160;</td>
            <td style="width: 2.4%; vertical-align: middle;">&#160;</td>
            <td style="width: 15.16%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 2.4%; vertical-align: middle;">&#160;</td>
            <td style="width: 15.16%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 2.4%; vertical-align: middle;">&#160;</td>
            <td style="width: 15.16%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 2.4%; vertical-align: middle;">&#160;</td>
            <td style="width: 15.03%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
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            <td style="width: 29.83%; vertical-align: bottom;">&#160;</td>
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              <div style="text-align: center; color: #000000; font-weight: bold;">As&#160;at&#160;December&#160;31,&#160;2022&#160;</div>
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              <div style="text-align: right; color: #000000;">1,013</div>
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            <td style="width: 15.12%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 2.45%; vertical-align: middle;">&#160;</td>
            <td style="width: 15.13%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 2.45%; vertical-align: middle;">&#160;</td>
            <td style="width: 15.12%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 2.45%; vertical-align: middle;">&#160;</td>
            <td style="width: 15.01%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
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      <div style="text-align: justify; text-indent: 36pt; color: #000000;">As a result of the above, our net loss amounted to US$2.4 million for the three-month ended September 30, 2023, compared to US$11.5 million in the same period of 2022.</div>
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      <div>&#160;</div>
      <div><br>
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      <div><br>
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          <tr>
            <td nowrap="nowrap" style="width: 74.58%; vertical-align: middle;">&#160;</td>
            <td nowrap="nowrap" style="width: 25.42%; vertical-align: middle; border-bottom: #000000 2px solid;" colspan="3">
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          <tr>
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            <td nowrap="nowrap" style="width: 1.97%; vertical-align: middle; border-top: #000000 2px solid;">&#160;</td>
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            <td nowrap="nowrap" style="width: 74.58%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
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              <div style="text-align: right; color: #000000;">(5,422)</div>
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          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 74.58%; vertical-align: bottom;">
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              <div style="text-align: right; color: #000000;">30,294&#160;</div>
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              <div style="text-align: right; color: #000000;">(46,102)</div>
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          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 74.58%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="color: #000000;">Net cash used in financing activities</div>
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            <td nowrap="nowrap" style="width: 11.72%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000;">(27,214)</div>
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            <td nowrap="nowrap" style="width: 1.97%; vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
            <td nowrap="nowrap" style="width: 11.72%; vertical-align: middle; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; color: #000000;">(10,456)</div>
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          <tr>
            <td nowrap="nowrap" style="width: 74.58%; vertical-align: bottom;">
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            <td nowrap="nowrap" style="width: 11.72%; vertical-align: middle;">
              <div style="text-align: right; color: #000000;">(2,342)</div>
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            <td nowrap="nowrap" style="width: 1.97%; vertical-align: middle;">&#160;</td>
            <td nowrap="nowrap" style="width: 11.72%; vertical-align: middle;">
              <div style="text-align: right; color: #000000;">(88,366)</div>
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          </tr>

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      <div><br>
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      <div style="text-align: justify; margin-left: 36pt; color: #000000; font-style: italic; font-weight: bold;">Net cash used in operating activities</div>
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            <tr>
              <td style="width: 54pt; vertical-align: top; text-align: right;">
                <div style="text-align: left; margin-left: 36pt; color: #000000;">&#8226;</div>
                <div>&#160;</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify; color: #000000;">(1) a decrease in net loss of the period to US$16.9 million for the nine-month period ended September 30, 2023, compared to a net loss of US$52.1 in the same period of 2022</div>
                <div>&#160;</div>
              </td>
            </tr>

        </table>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" id="zb568529bcd5a48e19fcaa10bf3c31676" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-bottom: 12pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 54pt; vertical-align: top; text-align: right;">
                <div style="text-align: left; margin-left: 36pt; color: #000000;">&#8226;</div>
                <div>&#160;</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify; color: #000000;">(2) working capital adjustments which consisted mainly of an increase in deferred revenue in the amount of US$5.5 million for the nine-month period ended September 30, 2023, compared to an
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                <div>&#160;</div>
              </td>
            </tr>

        </table>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" id="z10d2f6c6b3504c32be3e5941ca273583" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-bottom: 12pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 54pt; vertical-align: top; text-align: right;">
                <div style="text-align: left; margin-left: 36pt; color: #000000;">&#8226;</div>
                <div>&#160;</div>
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                <div style="text-align: justify; color: #000000;">(3) working capital adjustments which consisted mainly of an increase in trade receivables in the amount of US$6.8 million for the nine-month period ended September 30, 2023, compared to an
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                <div>&#160;</div>
              </td>
            </tr>

        </table>
      </div>
      <div><br>
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      <div style="text-align: justify; margin-left: 36pt; color: #000000; font-style: italic; font-weight: bold;">Net cash provided by (used in) investing activities</div>
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      <div style="text-align: justify; text-indent: 24.5pt; color: #000000;">For the nine-month period ended September 30, 2023, net cash provided by (used in) investing activities increased by US$76.4 million to US$30.3 million of net cash provided by
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        September 30, 2023, from US$66.2 million in the same period of 2022.</div>
      <div><br>
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      <div style="text-align: justify; margin-left: 36pt; color: #000000; font-style: italic; font-weight: bold;"> <br>
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      <div style="text-align: justify; margin-left: 36pt; color: #000000; font-style: italic; font-weight: bold;">Net cash used in financing activities</div>
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      <div style="text-align: justify; text-indent: 24.5pt; color: #000000;">For the nine-month period ended September 30, 2023, net cash used in financial activities increased by US$16.8 to US$27.2 million, from US$10.5 million in the same period of 2022,
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      <div style="text-align: justify; text-indent: 24.5pt; color: #000000;"> <br>
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        <div style="page-break-after: always;" class="BRPFPageBreak">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
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      <div style="text-align: justify; color: #000000; font-weight: bold;"> <br>
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      <div style="text-align: justify; color: #000000; font-weight: bold;">Capital expenditures</div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 24.5pt; color: #000000;">Our capital expenditures, consisting of purchase of property and equipment and intangible assets, for the nine-month periods ended September 30, 2023 and 2022, amounted to US$0.3
        million and US$0.3 million, respectively, representing 0.2% and 0.2% of our total revenue for the nine-month periods ended September 30, 2023 and 2022, respectively.</div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 28.35pt; color: #000000;">We expect to slightly increase our capital expenditures to support the growth in our business and operations.</div>
      <div><br>
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      <div style="text-align: justify; color: #000000; font-weight: bold;">Off-balance sheet arrangements</div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; color: #000000;">As of September 30, 2023, we did not have any off-balance sheet arrangements.</div>
      <div>&#160;</div>
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      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; color: #000000;">We are exposed to market risks in the ordinary course of our business, including the effects of foreign currency fluctuations, derivative financial instruments, credit risk and
        liquidity risk. Information relating to quantitative and qualitative disclosures about these market risks is described below:</div>
      <div>&#160;</div>
      <div style="text-align: justify; margin-left: 36pt; color: #000000; font-style: italic; font-weight: bold;">Interest rate risk</div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; color: #000000;">The interest risk arises from the possibility of us incurring losses due to fluctuations in interest rates in respect of fair value of future cash flows of a financial instrument.</div>
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      <div style="text-align: justify; text-indent: 36pt; color: #000000;">Our investments are made for capital preservation purposes and we do not enter into investments for trading or speculative purposes. Our trade receivables, accounts payable and
        other liabilities do not bear interest.</div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 35.45pt; color: #000000;">Our cash, cash equivalents, restricted cash, and short-term investments consist primarily of interest-bearing accounts held by our parent company in USD. Such interest-earning
        instruments carry a degree of interest rate risk. To minimize interest rate risk, we intend to maintain our portfolio of cash equivalents in a variety of investment-grade securities, which may include commercial papers, money market funds, and
        government and nongovernment debt securities. Because of the short-term maturities of our cash, cash equivalents, restricted cash, and short-term investments, as of September 30, 2023, we are not materially exposed to the risk of changes in market
        interest rates.</div>
      <div><br>
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      <div style="text-align: justify; margin-left: 36pt; color: #000000; font-style: italic; font-weight: bold;">Foreign currency exchange risk</div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; color: #000000;">We have significant operations internationally that are denominated in foreign currencies. Our exposure to foreign exchange risk is primarily related to fluctuations between the
        U.S. Dollar and the currency of Latin American countries in which we operate (primarily the Brazilian <font style="font-style: italic;">real</font>, Argentine <font style="font-style: italic;">peso</font>, Colombian <font style="font-style: italic;">peso</font> and Chilean <font style="font-style: italic;">peso</font>). We transact business in various foreign currencies and have significant international revenues and costs. Our cash flows, results of operations and some of our
        intercompany balances are exposed to foreign exchange rate fluctuations that may differ materially from expectations. We may record significant gains or losses due to foreign currency fluctuations and related hedging activities.</div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; color: #000000;">Our subsidiaries determine their functional currency based on the currency that mostly impacts their economic environment. As a result, they generate revenues and incur expenses in
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        of September 30, 2023 and in the year ended December 31, 2022, our assets were represented by 60.4% and 66.1% in U.S. dollars, 39.6% and 33.9% in other currencies. As of September 30, 2023 and in the year ended December 31, 2022, our liabilities,
        excluding our total shareholders&#8217; equity, were represented by 13.7% and 13.2% in U.S. dollars, 86.3% and 86.8% in other currencies.</div>
      <div style="text-align: justify; text-indent: 36pt; color: #000000;"> <br>
      </div>
      <div style="text-align: justify; text-indent: 36pt; color: #000000;">We are exposed to foreign exchange fluctuations on the revaluation of foreign currency assets and liabilities. We use foreign exchange derivative products to hedge the risk of
        currency devaluation and hyper-inflation. By their nature, derivative financial instruments involve risk, including the credit risk of non-performance by counterparties. We use derivatives for hedging purposes and not as speculative investments. </div>
      <div style="text-align: justify; text-indent: 36pt; color: #000000;"> <br>
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      <div style="text-align: justify; text-indent: 36pt; color: #000000;"> <br>
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      <div>&#160;
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          <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">SIGNATURES</div>
          <div>&#160;</div>
          <div style="color: #000000;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereto duly authorized.</div>
          <div>&#160;</div>
          <div style="color: #000000;">Date: November 7, 2023<br>
            <div><br>
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            <div>
              <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;">

                  <tr>
                    <td style="width: 50%;">
                      <div>&#160;</div>
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                    <td style="font-style: italic;" rowspan="1" colspan="2">VTEX</td>
                  </tr>
                  <tr>
                    <td style="width: 50%;">
                      <div>&#160;</div>
                    </td>
                    <td style="width: 3%;">
                      <div>&#160;</div>
                    </td>
                    <td style="width: 47%;">
                      <div>&#160;</div>
                    </td>
                  </tr>
                  <tr>
                    <td style="width: 50%;">
                      <div>&#160;</div>
                    </td>
                    <td style="width: 3%;">
                      <div>&#160;</div>
                    </td>
                    <td style="width: 47%;">
                      <div>&#160;</div>
                    </td>
                  </tr>
                  <tr>
                    <td style="width: 50%; padding-bottom: 2px;">
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                    <td style="width: 3%; padding-bottom: 2px;">By:<br>
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                    <td style="width: 47%; border-bottom: 2px solid rgb(0, 0, 0);">/s/ Ricardo Camatta Sodre</td>
                  </tr>
                  <tr>
                    <td style="width: 50%;" rowspan="1">&#160;</td>
                    <td style="width: 3%;" rowspan="1">&#160;</td>
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                    <td style="width: 3%;">Title:</td>
                    <td style="width: 47%;">Chief Financial Officer</td>
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          <div style="margin-left: 255.1pt; color: #000000;">&#160;<br>
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