---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-24-005432"
form_type: "8-K"
ticker: "VERX"
cik: "0001806837"
company_name: "Vertex, Inc."
filed_at: "2024-04-23T23:59:59+00:00"
generated_at: "2026-06-03T12:11:41.779717+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Vertex Q1 prelim: revenue $155.5-$157.5M (+17-19% YoY), net income $2.4-3.1M; proposes $250M notes

## Summary
- Q1 2024 revenue expected $155.5-$157.5M, up 17-19% from $132.8M in Q1 2023.
- Net income expected $2.4-$3.1M vs net loss of $18.1M in prior year quarter.
- Adjusted EBITDA expected $35.5-$37.5M, up 76-86% from $20.2M in Q1 2023.
- ARR expected $523.5-$525.5M (+17-18% YoY); net revenue retention 111-113%.
- Proposes $250M convertible notes due 2029; grants initial purchasers option for additional $37.5M.

## SEC filing metadata
- accession: 0001558370-24-005432
- form_type: 8-K
- ticker: VERX
- cik: 0001806837
- company_name: Vertex, Inc.
- filed_at: 2024-04-23T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1806837/000155837024005432/0001558370-24-005432-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1806837/000155837024005432/verx-20240419x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-24-005432
- JSON: https://secwatch.observer/filing/0001558370-24-005432.json
- Plain text: https://secwatch.observer/filing/0001558370-24-005432.txt

## Key facts
- Earnings Releases
  Vertex, Inc. reported the three months ended March 31, 2024 results: revenue between $155.5 million and $157.5 million, net income between $2.4 million and $3.1 million.
  - Period: the three months ended March 31, 2024
  - Revenue: between $155.5 million and $157.5 million
  - Net income: between $2.4 million and $3.1 million
  - Result: preliminary results
  source text: with full details when we announce our full first quarter financial results in early May.” ​ Revenues for the three months ended March 31, 2024 are expected to be between $155.5 million and $157.5 million, compared to $132.8 million for the three months ended March 31, 2023, representing an increase of approximately 17% to 19%. ​ Annual Recurring Revenue at
  evidence_url: https://www.sec.gov/Archives/edgar/data/1806837/000155837024005432/0001558370-24-005432-index.htm
- Material Agreements
  Vertex, Inc. amended Fourth Amendment to Credit Agreement with the guarantors party thereto, PNC Bank, National Association, as administrative agent, and the lenders party thereto (effective 2024-04-19).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: the guarantors party thereto, PNC Bank, National Association, as administrative agent, and the lenders party thereto
  - Effective: 2024-04-19
  source text: On April 19, 2024, Vertex, Inc. (the “Company”), the guarantors party thereto, PNC Bank, National Association, as administrative agent, and the lenders party thereto entered into the Fourth Amendment to Credit Agreement (the “Fourth Amendment”), which amended the Credit Agreement by and among the Company, the guarantors party thereto, PNC Bank, National Association, as administrative agent, and the lenders party thereto, dated as of March 31, 2020 (as previously amended, the “Credit Agreement”), providing for, among other things, amendment of the definition of “Approved Convertible Debt” in Section 1.1 of the Credit Agreement by deleting the phrase “Two Hundred Million Dollars ($200,000,000)” and inserting in lieu thereof the phrase “Three Hundred Million Dollars ($300,000,000).”
  evidence_url: https://www.sec.gov/Archives/edgar/data/1806837/000155837024005432/0001558370-24-005432-index.htm

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