From GlobeNewswire: 2025-05-07 07:05:00

Vertex, Inc. reported strong financial results for the first quarter of 2025, with total revenues of $177.1 million, up 12.9% year-over-year. Software subscription revenues were $150.8 million, cloud revenues were $80.2 million, and ARR was $618.5 million, up 17.9% year-over-year. The company expects revenues of $182-187 million for Q2 and $760-768 million for 2025, with Adjusted EBITDA of $161-165 million.

Vertex made solid progress on key strategic initiatives including e-invoicing and artificial intelligence, aiming to enhance sales tax compliance automation for small and mid-size businesses. The company’s investment in Kintsugi AI focuses on applying AI to tax compliance challenges. The financial outlook is positive with accelerating momentum expected throughout 2025.

The company’s non-GAAP financial metrics show strong performance, with Non-GAAP operating income of $31.3 million, Non-GAAP net income of $24.5 million, and Adjusted EBITDA of $37.2 million for the first quarter of 2025. The company’s Non-GAAP diluted EPS was $0.15, reflecting positive growth and profitability in the indirect tax automation space.

Vertex’s financial outlook for 2025 is optimistic, driven by persistent secular tailwinds and an underpenetrated market for indirect tax automation. The company expects accelerating financial momentum throughout the year as it continues to execute its growth strategy. The forward-looking statements reflect the company’s expectations, with a focus on long-term profitable growth and market opportunities.



Read more at GlobeNewswire:: Vertex Announces First Quarter 2025 Financial Results