Lucide Ledger

A filing-first public record from Lucide House.

Issue 008 | U.S. Pilot | US

VTEX

VTEX

Screen state: Needs Review Source state: Stale Filing 20-F | 2026-02-26 Filing currency: USD
Open Filing Back to Register Report a correction
Internal NCAV Discount 99.6%

GNNI internal NCAV discount calculation. Market context inputs are retained internally and are not displayed.

Current Assets
267,505,000USD
Total Liabilities
113,136,000USD
NCAV
154,369,000USD
Cash
15,744,000USD
NCAV per share
834.28USD/share
Evidence
6 annual | 0 quarterly

Mary filing review

Financial Statement Evidence

Deterministic observations from the frozen Mary Reason Card. They annotate filing evidence and do not determine screen inclusion.

Evaluated
12
Triggered
4
Unavailable
3
Requires inspection High NCAV Burn since the previous filing 154,369,000
Latest
154,369,0002025-12-31
Comparison
176,598,0002024-12-31
Change
-12.6%

Basis: NCAV burn since previous filing >= 10%; previous NCAV must be positive

Source periods: SEC 20-F 2025-12-31 · 0001193125-26-076504; REPORTED_FILING 20-F 2024-12-31

Supporting observation Positive OCF 33,367,000
Latest
33,367,0002025-12-31
Comparison
n/a
Change
n/a

Basis: latest reporting-period cash from operations > 0

Source periods: SEC 20-F 2025-12-31 · 0001193125-26-076504

Supporting observation Share Count Reduced 185,109
Latest
185,1092025-12-31
Comparison
192,3342024-12-31
Change
-3.8%

Basis: 1Y share change <= -2% using the same share-count source

Source periods: SEC 20-F 2025-12-31 · 0001193125-26-076504; REPORTED_FILING 20-F 2024-12-31

Supporting observation Current Ratio > 1.5 3.04
Latest
3.042025-12-31
Comparison
1.5
Change
n/a

Basis: current assets / current liabilities; strong if > 1.5

Source periods: SEC 20-F 2025-12-31 · 0001193125-26-076504

3 unavailable checks — inspect missing inputs
High Debt (short-term debt + long-term debt) / ordinary equity >= 50%
Low Debt (short-term debt + long-term debt) / ordinary equity < 20%
Non-Positive Equity ordinary shareholders equity <= 0

Business Profile

Checklist-driven facts extracted from filing text. Missing fields stay visible in the details.

business_profile_v1

Business profile: 0 of 12 fields established by the current extractor.

Business Profile Field Details

Business Description

Missing Source

Not established by the current extractor from the selected filing context.

Revenue Model

Missing Source

Not established by the current extractor from the selected filing context.

Customers And Channels

Missing Source

Not established by the current extractor from the selected filing context.

Segments And Geography

Missing Source

Not established by the current extractor from the selected filing context.

Tangible Operations Assets

Missing Source

Not established by the current extractor from the selected filing context.

Value Chain

Missing Source

Not established by the current extractor from the selected filing context.

Competition Positioning

Missing Source

Not established by the current extractor from the selected filing context.

Business Lifecycle Cyclicality

Missing Source

Not established by the current extractor from the selected filing context.

Strategy And Capital Allocation

Missing Source

Not established by the current extractor from the selected filing context.

Management Governance Signals

Missing Source

Not established by the current extractor from the selected filing context.

Disclosed Risks

Missing Source

Not established by the current extractor from the selected filing context.

Known Unknowns

Missing Source

Not established by the current extractor from the selected filing context.

Business Profile Sources
Source Filing Date Type Status Provenance
S1 0001193125-26-076504 2026-02-26 20-F Missing Source Data Vault | sec/cleaned/cik=0001793663/accession=0001193125-26-076504/parser=html-cleaner-v1/full.txt
Share Count & Per-Share Comparability

Data Vault has not published the normalized share-count artifact for this company.

Known Unknowns

Only 0 quarterly periods available from Data Vault for this company.

quarterly periods are missing

Medium | Share Count

The current U.S. Pilot does not yet evaluate share-count trends or post-filing dilution beyond Mary's screening flags.

Low | Classification

U.S. Pilot rows are surfaced for source inspection and may still need manual business classification review.

Medium | Filing

Some rows are based on older filing data and require manual freshness review.

Annual Financials

Latest annual periods, newest first. Missing cells render as n/a.

Metric
2025-12-31
20-F
USD
2024-12-31
20-F
USD
2023-12-31
20-F
USD
2022-12-31
20-F
USD
2021-12-31
20-F
USD
2021-12-31
20-F
USD
Revenue 240,517,000 226,661,000 200,833,000 n/a n/a n/a
Operating Income 18,108,000 10,103,000 -14,602,000 -49,919,000 -65,929,000 -65,929,000
Net Income 20,010,000 11,995,000 -13,694,000 -52,419,000 -60,514,000 -60,514,000
Cash From Operations 33,367,000 25,964,000 5,408,000 n/a n/a n/a
Capex -1,039,000 -2,069,000 -477,000 n/a n/a n/a
Free Cash Flow 32,328,000 23,895,000 4,931,000 n/a n/a n/a
Cash And Equivalents 15,744,000 18,673,000 28,035,000 24,394,000 n/a 121,006,000
Accounts Receivable 61,601,000 52,519,000 n/a n/a n/a n/a
Inventory n/a n/a n/a n/a n/a n/a
Total Current Assets 267,505,000 284,590,000 n/a n/a n/a n/a
Total Assets 346,632,000 366,778,000 341,145,000 357,673,000 414,970,000 414,970,000
Total Current Liabilities 87,963,000 80,022,000 n/a n/a n/a n/a
Total Liabilities 113,073,000 107,960,000 n/a n/a n/a n/a
Shareholders Equity 233,496,000 254,114,000 238,718,000 272,676,000 n/a n/a
Shares Outstanding n/a n/a n/a n/a n/a n/a
Shares Outstanding Diluted n/a n/a n/a n/a n/a n/a
Weighted Avg Shares Diluted 185,109 192,334 186,365 n/a n/a n/a
Weighted Avg Shares Basic 179,623 185,044 186,365 n/a n/a n/a
Net Share Count Change (Normalized) Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence
Ownership Claim Change (Normalized) Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence
Quarterly Financials

Latest quarterly periods, newest first. Periods are shown only when Data Vault has them.

Only 0 quarterly periods available from Data Vault for this company.

Metric
Revenue
Operating Income
Net Income
Cash From Operations
Capex
Free Cash Flow
Cash And Equivalents
Total Current Assets
Total Liabilities
Shares Outstanding
Shares Outstanding Diluted
Weighted Avg Shares Diluted
Weighted Avg Shares Basic
Net Share Count Change (Normalized)
Ownership Claim Change (Normalized)
Audit Trail

NCAV Audit

Official-source inputs remain linked to filing provenance. Derived values are labeled as such.

Input Value Source concept Filing period Confidence Provenance
Current Assets 267,505,000USD us-gaap:AssetsCurrent 2025-12-31 1.00 Data Vault | sec/companyfacts/cik=0001793663/companyfacts.json
Data Vault | sec/companyfacts/cik=0001793663/companyfacts.json
Total Liabilities 113,073,000USD derived 2025-12-31 1.00 n/a
Cash 15,744,000USD us-gaap:CashAndCashEquivalentsAtCarryingValue 2025-12-31 1.00 Data Vault | sec/companyfacts/cik=0001793663/companyfacts.json
Data Vault | sec/companyfacts/cik=0001793663/companyfacts.json
Shares Outstanding 185,109 us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding 2025-12-31 1.00 Data Vault | sec/companyfacts/cik=0001793663/companyfacts.json
Data Vault | sec/companyfacts/cik=0001793663/companyfacts.json
NCAV 154,432,000USD derived 2025-12-31 n/a company-evidence-v1 | total_current_assets - total_liabilities
NCAV per share 834.28USD derived 2025-12-31 n/a company-evidence-v1 | NCAV / shares_outstanding
Internal NCAV Discount 99.6% derived 2025-12-31 n/a gnni_publication_pack | internal_discount

NCAV = total_current_assets - total_liabilities | NCAV per share = NCAV / weighted_avg_shares_diluted

Source Provenance

Data Source
Data Vault
Data Vault Root
Local evidence | The Data Vault
CIK
0001793663
Company ID
n/a
Selected Annual Source
Data Vault | sec/companyfacts/cik=0001793663/companyfacts.json
Selected Quarterly Source
Data Vault | sec/companyfacts/cik=0001793663/companyfacts.json
Statement Extractor
companyfacts-screener-v1
View Extractor
companyfacts-screener-v1
Source Accession Count
3
Imported At
2026-08-30T03:18:37+00:00
Rendered At
2026-08-30T12:42:59+00:00

Run Audit

Mary Run
3f9a4a433fea42ac8dddd76b449a784a
Mary As Of
2026-08-29
Accession
0001193125-26-076504
CIK
0001793663
Mary Filing Date
2026-02-26
Filing Currency
USD
Internal Discount
99.6%
Source State
Stale Filing
Market Context
Not Displayed
Market Policy
internal_only_not_redistributed
Share Trend
Not Evaluated
Dilution
Needs Review

mary_run=3f9a4a433fea42ac8dddd76b449a784a; mary_as_of=2026-08-29; mary_filing_date=2026-02-26; mary_accession=0001193125-26-076504; mary_cik=0001793663; gnni_supporting_filing_date=2026-02-26; internal_discount=0.995767; mary_reason=Mary's deterministic net-net screen flagged this candidate. The internal discount is shown; raw market-data fields are not published in this pilot.; source requires review

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