---
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"
generated_at: "2026-06-11T23:05:28.584715+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Vertex Q2 revenue $139.7M (+17.1% YoY); cloud revenue up 27.3%

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-23-014081
- JSON: https://secwatch.observer/filing/0001558370-23-014081.json
- Plain text: https://secwatch.observer/filing/0001558370-23-014081.txt

## Key facts
- Earnings Releases
  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.
  - Period: second quarter ended June 30, 2023
  - Revenue: $139.7 million
  - Net income: $(6.9) million
  - EPS: $(0.05) per basic and diluted Class A and Class B shares
  - Result: reported results
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1806837/000155837023014081/0001558370-23-014081-index.htm

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