---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-23-008958"
form_type: "8-K"
ticker: "VERX"
cik: "0001806837"
company_name: "Vertex, Inc."
filed_at: "2023-05-10T23:59:59+00:00"
generated_at: "2026-06-15T06:54:25.395064+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Vertex Q1 revenue $132.8M (+15.5% YoY), GAAP loss $(18.1)M; non-GAAP EPS $0.08

## Summary
- Total revenue $132.8M (+15.5% YoY); software subscription revenue $111.0M (+14.3% YoY).
- ARR $446.5M (+17.3% YoY); AARPC $104,370 (up from $89,700 a year ago).
- GAAP net loss $(18.1)M vs $(0.3)M prior year; non-GAAP net income $12.5M, diluted EPS $0.08.
- Adjusted EBITDA $20.2M (15.2% margin) vs $19.1M (16.6% margin) in Q1 2022.
- Management cites strong new deal momentum with large enterprises; no quantitative guidance change.

## SEC filing metadata
- accession: 0001558370-23-008958
- form_type: 8-K
- ticker: VERX
- cik: 0001806837
- company_name: Vertex, Inc.
- filed_at: 2023-05-10T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1806837/000155837023008958/0001558370-23-008958-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1806837/000155837023008958/verx-20230510x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-23-008958
- JSON: https://secwatch.observer/filing/0001558370-23-008958.json
- Plain text: https://secwatch.observer/filing/0001558370-23-008958.txt

## Key facts
- Earnings Releases
  Vertex, Inc. reported first quarter ended March 31, 2023 results: revenue $132.8 million, net income $(18.1) million, EPS $(0.12).
  - Period: first quarter ended March 31, 2023
  - Revenue: $132.8 million
  - Net income: $(18.1) million
  - EPS: $(0.12)
  - Result: reported results
  source text: ● Total revenues of $132.8 million, up 15.5% year-over-year. ● Software subscription revenues of $111.0 million, up 14.3% year-over-year. ● Cloud revenues of $48.2 million, up 25.9% year-over-year. ● Annual Recurring Revenue (“ARR”) was $446.5 million, up 17.3% year-over-year. ● Average Annual Revenue per direct customer (“AARPC”) was $104,370 at March 31, 2023, compared to $89,700 at March 31, 2022 and $100,500 at December 31, 2022. ● Net Revenue Retention (“NRR”) was 110%, consistent with March 31, 2022, and the fourth quarter of 2022. ● Gross Revenue Retention (“GRR”) was 96%, consistent with March 31, 2022, and the fourth quarter of 2022. ● Loss from operations of $(8.9) million, compared to income from operations of $0.5 million for the same period prior year. Non-GAAP operating income of $16.5 million, compared to $16.2 million for the same period prior year. ● Net loss of $(18.1) million, compared to net loss of $(0.3) million for the same period prior year. ● Net loss per basic
  evidence_url: https://www.sec.gov/Archives/edgar/data/1806837/000155837023008958/0001558370-23-008958-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.