earnings
confidence high
sentiment neutral
materiality 0.55
Vertex Q1 revenue up 17% to $115M; cloud revenue up 42% YoY
Vertex, Inc.
- Total revenues of $115.0M, up 17% YoY; cloud revenue $38.3M, up 42.1%.
- ARR of $380.6M, up 18.9% YoY; NRR rate 110% (up from 105% in Q1 2021).
- GAAP net loss of $0.3M vs net income of $2.3M; Non-GAAP net income $12.1M, EPS $0.08.
- Adjusted EBITDA of $19.1M (16.6% margin) vs $18.2M (18.5% margin) prior year.
- Refinanced credit facility; 4,242 customers at March 31, 2022.