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Vertex Announces Third Quarter 2026 Financial Results

VERX
  • Vertex, Inc. reported third-quarter 2026 total revenues of $213.3 million, an 11.0% increase year-over-year.
  • Software subscription revenues reached $181.7 million (up 10.2% year-over-year), while cloud revenues grew 20.4% year-over-year to $110.8 million.
  • Annual Recurring Revenue (ARR) increased 11.7% year-over-year to $724.3 million.
  • Net Revenue Retention (NRR) was 106%, down slightly from 107% in the prior year period, while Gross Revenue Retention (GRR) remained stable at 95%.
  • GAAP net loss for the quarter was $46.6 million, compared to a net income of $4.0 million in the same period last year.
  • Non-GAAP net income was $42.9 million, with Non-GAAP diluted earnings per share (EPS) of $0.26.
  • Adjusted EBITDA rose to $64.8 million, resulting in an Adjusted EBITDA margin of 30.4%, up from 22.6% in the prior year.
  • The company raised its full-year 2026 revenue outlook to a range of $828.9 million to $830.9 million.
  • Full-year 2026 Adjusted EBITDA guidance was increased to a range of $217.9 million to $219.9 million.
  • Fourth-quarter 2026 revenue is expected to be between $215.0 million and $217.0 million, with Adjusted EBITDA between $58.0 million and $60.0 million.
  • Vertex reported total direct customers of 4,968 as of September 30, 2026, bringing the total customer count to 5,515.
  • CEO Christopher Young stated the company stabilized its core business, strengthened its financial profile, and noted improving momentum in e-invoicing & cloud revenue growth.
  • CFO John Schwab confirmed the company is investing selectively to support durable long-term growth while maintaining operating discipline.
  • The company announced a conference call scheduled for November 4, 2026, at 5:00 p.m. Eastern Time to discuss these financial results.