Vertex Q1 revenue $156.8M (+18.1%), net income turns positive; adjusted EBITDA margin 23.4%

Vertex, Inc.

Total revenues $156.8M (+18.1% YoY); cloud revenues $61.8M (+28.3% YoY).
Net income $2.7M vs net loss $18.1M prior year; EPS $0.02 vs $(0.12).
Non-GAAP operating income $31.7M vs $16.5M; non-GAAP diluted EPS $0.15.
Adjusted EBITDA $36.7M (23.4% margin) vs $20.2M (15.2%) prior year.
ARR $524.5M (+17.5%); NRR 112%, GRR 95%.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

Vertex, Inc. reported first quarter ended March 31, 2024 results: revenue Total revenues of $156.8 million, net income Net income of $2.7 million, EPS Net income per basic and diluted Class A and Class B shares of $0.02.

Period: first quarter ended March 31, 2024
Revenue: Total revenues of $156.8 million
Net income: Net income of $2.7 million
EPS: Net income per basic and diluted Class A and Class B shares of $0.02
Result: reported results

Exact text from the filing

recent successful convertible debt offering, give me confidence in our ability to continue to grow shareholder value.” First Quarter 2024 Financial Results ● Total revenues of $156.8 million, up 18.1% year-over-year. ● Software subscription revenues of $131.8 million, up 18.8% year-over-year. ● Cloud revenues of $61.8 million, up 28.3% year-over-year. ● Annual

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Vertex, Inc. filing history →

Source: SEC EDGAR

accession 0001558370-24-007190

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