Ricardo Camatta Sodré
CFO at VTEX
As we evolve on our profitability growth strategy, non GAAP net income has become an increasingly relevant metric. In Q1 twenty twenty five, non GAAP net income reached $5,300,000 and 10% margin, up from $2,400,000 in the same period last year, more than doubling year over year and a 5.2 percentage points improvement in margin. As mentioned by Gerardo, on a trailing twelve month basis, non GAAP net income totaled $34,500,000 reflecting the ongoing strengthening of our profitability profile as we continue executing with discipline and scaling efficiently. Aligned with our non GAAP operating income, as of the three months ended 03/31/2025, we had a positive $6,600,000 free cash flow compared to $1,600,000 free cash flow in the same quarter of the prior year, reaching a free cash flow margin of 12% and a nine percentage point margin improvement year over year. In the first quarter of twenty twenty five, regarding the one year share repurchase program authorized by our Board of Directors on 12/03/2024, Vitex repurchased a total of 2,700,000.0 Class A common shares at an average price of $5.56 per share, representing an aggregate amount of $15,000,000 Considering the current and the previous year's share repurchase programs, the total executed amounted with 15,200,000.0 shares with an average price of $4.86 per share and a total cost of $74,300,000 As we move forward with our business outlook, we continue to navigate a macroeconomic environment market by volatility in the same store sales and GMV growth increasing the uncertainty of projection.
