{"schema_version":"secwatch.filing_event.v1","accession":"0001558370-23-014081","form_type":"8-K","ticker":"VERX","cik":"0001806837","company_name":"Vertex, Inc.","filed_at":"2023-08-09T23:59:59+00:00","discovered_at":"2026-05-14T18:03:35.334167+00:00","generated_at":"2026-06-11T23:05:28.584715+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"positive","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Vertex Q2 revenue $139.7M (+17.1% YoY); cloud revenue up 27.3%","bullets":["Net loss of $6.9M ($0.05 loss per share); non-GAAP diluted EPS of $0.08.","Cloud revenue $51.2M (+27.3% YoY); ARR $467.7M (+17.5% YoY).","NRR hit record 111% (vs. 110% a year ago); AARPC rose to $109,170.","Adjusted EBITDA $22.0M (15.7% margin), vs. $17.8M (14.9%) in Q2 2022.","CEO cites highest YoY adjusted EBITDA growth since IPO in mid-2020."],"urls":{"canonical":"https://secwatch.observer/filing/0001558370-23-014081","json":"https://secwatch.observer/filing/0001558370-23-014081.json","markdown":"https://secwatch.observer/filing/0001558370-23-014081.md","text":"https://secwatch.observer/filing/0001558370-23-014081.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1806837/000155837023014081/0001558370-23-014081-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1806837/000155837023014081/verx-20230809x8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-11T23:05:28.584715+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"94dd9eb18d209c0835e94d730cce3f663ce4c9f8","claim":"Vertex, Inc. reported second quarter ended June 30, 2023 results: revenue $139.7 million, net income $(6.9) million, EPS $(0.05) per basic and diluted Class A and Class B shares.","evidence_excerpt":"Second Quarter 2023 Financial Results ● Total revenues of $139.7 million, up 17.1% year-over-year. ● Software subscription revenues of $117.8 million, up 16.6% year-over-year. ● Cloud revenues of $51.2 million, up 27.3% year-over-year. ● Annual Recurring Revenue (“ARR”) was $467.7 million, up 17.5% year-over-year. ● Average Annual Revenue per direct customer (“AARPC”) was $109,170 at June 30, 2023, compared to $93,850 at June 30, 2022 and $104,370 at March 31, 2023. ● Net Revenue Retention (“NRR”) was 111%, compared to 110% at June 30, 2022, and the first quarter of 2023. ● Gross Revenue Retention (“GRR”) was 96%, consistent with June 30, 2022, and the first quarter of 2023. ● Loss from operations of $(4.1) million, compared to loss from operations of $(4.3) million for the same period prior year. Non-GAAP operating income of $18.1 million, compared to $14.6 million for the same period prior year. ● Net loss of $(6.9) million, compared to net loss of $(5.5) million for the same period","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1806837/000155837023014081/0001558370-23-014081-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"second quarter ended June 30, 2023"},{"label":"Revenue","value":"$139.7 million"},{"label":"Net income","value":"$(6.9) million"},{"label":"EPS","value":"$(0.05) per basic and diluted Class A and Class B shares"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}