GlobeNewswire·Aug 3, 2026, 4:03 PM ET

Vertex Announces Second Quarter 2026 Financial Results

Vertex Inc. reported second quarter 2026 total revenues of $204.0 million, a 10.5% increase year-over-year.
Software subscription revenues reached $174.8 million, up 10.7% year-over-year, while cloud revenues grew 17.9% to $101.7 million.
Annual Recurring Revenue (ARR) increased 10.5% year-over-year to $703.4 million.
Net Revenue Retention (NRR) was 105% compared to 108% in the prior year period, with Gross Revenue Retention (GRR) stable at 95%.
The company posted a GAAP loss from operations of $4.4 million, compared to a $3.9 million loss in the prior year.
Non-GAAP operating income was $44.3 million, up from $32.2 million in the prior year, and Net income was $9.0 million versus a $1.0 million loss previously.
Non-GAAP diluted earnings per share (EPS) were $0.20, with Adjusted EBITDA reaching $51.0 million and an Adjusted EBITDA margin of 25.0%.
For the third quarter of 2026, Vertex expects revenues between $208.0 million & $211.0 million, with Adjusted EBITDA between $55.0 million & $57.0 million.
Full-year 2026 guidance includes revenues of $825.0 million to $830.0 million, cloud revenue growth of 18%, & Adjusted EBITDA of $206.0 million to $210.0 million.
CEO Christopher Young highlighted stable customer retention, improved e-invoicing momentum, & progress on the "AI-First" strategy.
The company announced a conference call for August 3, 2026, at 5:00 p.m. Eastern Time to discuss these results.