Financial Data and Key Metrics Changes - Vertex reported revenue of $170.4 million in Q3 2024, representing a 17.5% year-over-year increase [10][34] - Adjusted EBITDA was $38.6 million, reflecting a 45.1% year-over-year increase and an adjusted EBITDA margin of 22.7% [11][42] - GAAP net income was $7.2 million, or $0.04 per diluted share [11] - Free cash flow for the quarter was $18.4 million, with a trailing 12-month free cash flow margin of 13.8% [43][44] Business Line Data and Key Metrics Changes - Software subscription revenue grew by 20.6% to $146.3 million, while services revenue increased by 1.8% to $24.2 million [36] - Cloud revenue reached $71 million, up 29.9% year-over-year, with ecosio contributing approximately $1 million to this growth [10][37] - Annual recurring revenue (ARR) was $576.8 million, with ecosio adding $8.1 million and Systax adding $5.9 million [37] Market Data and Key Metrics Changes - Net revenue retention (NRR) was 111%, up from 110% in the previous quarter, while gross revenue retention (GRR) remained at 95% [12][38] - Average annual revenue per customer (AARPC) for Vertex standalone was $132,422, up 17.5% year-over-year [38] Company Strategy and Development Direction - The acquisition of ecosio is expected to enhance Vertex's offerings in e-invoicing and indirect tax solutions, particularly in international markets [6][7] - Vertex aims to leverage its extensive tax content database to address the complexities of indirect taxes, which are critical for enterprises [15][16] - The company anticipates a super cycle of ERP conversions and a wave of e-invoicing regulations to drive future growth [17][18] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's position as a market leader and highlighted the importance of maintaining strong customer relationships [48][49] - The regulatory pressures and the upcoming ERP migration projects are expected to continue driving demand for Vertex's solutions [54][60] - Management noted that the company is well-prepared for upcoming e-invoicing mandates in countries like France and Germany [56] Other Important Information - Vertex's strong customer engagement was demonstrated through record attendance at customer events and positive feedback on new AI capabilities [8][9] - The company has over $279 million in unrestricted cash and cash equivalents, providing a solid liquidity position [44] Q&A Session Summary Question: Can you characterize the current set of ERP migration projects driving your business? - Management noted that visibility into good activity for Q3 and Q4 was raised due to ongoing ERP migration programs, particularly with Oracle and SAP [54] Question: Are there specific countries enacting e-invoicing mandates in 2025? - Management highlighted that France and Germany are in the queue for e-invoicing mandates, and Vertex is actively preparing for these changes [56] Question: How do you expect the SAP migration cycle to play out? - Management indicated that while the migration cycle has been slower than expected, there is potential for increased demand as more companies begin their transitions [58][59] Question: What is the impact of the partner ecosystem beyond SAP and Oracle? - Management reported solid activity with partners like Microsoft, Workday, and Shopify, indicating a broadening of the partner ecosystem [61] Question: How long does it typically take for Vertex to be brought into ERP migration projects? - Management explained that tax considerations typically lag a few quarters behind the initial migration decisions, but Vertex is involved early in the process [66] Question: What are the early use cases for AI technology? - Management discussed the development of smart categorization tools to help customers manage tax categories effectively, minimizing audit risks [70] Question: What percentage of customers will be impacted by e-invoicing rules? - Management stated that most multinational customers will be affected, especially as larger economies adopt e-invoicing mandates [75] Question: What are the assumptions for ecosio's revenue in 2025? - Management indicated that the initial guidance assumes ecosio will run at its normal pace with minimal synergy activity in the first year [95]

Vertex (VERX) came out with quarterly earnings of $0.16 per share, beating the Zacks Consensus Estimate of $0.14 per share. This compares to earnings of $0.10 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 14.29%. A quarter ago, it was expected that this company would post earnings of $0.13 per share when it actually produced earnings of $0.15, delivering a surprise of 15.38%.Over the last four quarters, the company has surpa ...

Exhibit 99.1 Vertex Announces Third Quarter 2024 Financial Results KING OF PRUSSIA, PA – November 6, 2024: Vertex, Inc. (NASDAQ: VERX) ("Vertex" or the "Company"), a leading global provider of indirect tax solutions, today announced financial results for its third quarter ended September 30, 2024. "The third quarter of 2024 was another great quarter for Vertex", stated David DeStefano, Vertex's President, Chief Executive Officer and Chairperson of the Board. "Revenue was above the high end of our quarterly ...

KING OF PRUSSIA, Pa., Nov. 06, 2024 (GLOBE NEWSWIRE) -- Vertex, Inc. (NASDAQ: VERX) (“Vertex” or the “Company”), a leading global provider of indirect tax solutions, today announced financial results for its third quarter ended September 30, 2024. “The third quarter of 2024 was another great quarter for Vertex”, stated David DeStefano, Vertex’s President, Chief Executive Officer and Chairperson of the Board. “Revenue was above the high end of our quarterly guidance, with mid-teens organic revenue growth. We ...

Group 1 - Vertex Pharmaceuticals Incorporated (NASDAQ: VRTX) shares have appreciated more than 40% since the coverage was shifted to hold/neutral last year, indicating strong performance by the company [2] - The company has executed well during this period, achieving revenue growth and securing key milestones [2] Group 2 - The Growth Stock Forum focuses on attractive risk/reward situations, tracking a model portfolio of 15-20 names and a top picks list of up to 10 stocks expected to perform well [2]

We expect Vertex Pharmaceuticals Incorporated (VRTX) to surpass expectations when it reports third-quarter 2024 results on Nov. 4, after market close.The Zacks Consensus Estimate for the to-be-reported quarter’s revenues is pegged at $2.68 billion, while the same for earnings is pinned at $4.13 per share.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.Let's see how things might have shaped up for the quarter to be reported.Factors Shaping VRTX's Upcoming ResultsVertex currently mark ...

KING OF PRUSSIA, Pa., Oct. 21, 2024 (GLOBE NEWSWIRE) -- Vertex, Inc. (NASDAQ:VERX), a leading global technology provider of indirect tax solutions, today announced that it will release third quarter 2024 financial results before the market opens on Wednesday, November 6, 2024. A conference call to discuss the results will be held at 8:30 a.m. Eastern Time that same day. Those wishing to participate may do so by dialing 1-412-317-6026 approximately ten minutes prior to start time. A listen-only webcast of th ...

Vertex (VERX) could be a solid choice for investors given its recent upgrade to a Zacks Rank #1 (Strong Buy). This upgrade is essentially a reflection of an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices. The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system. Sin ...

Shares of Vertex Energy, Inc. (VTNR) plummeted more than 58% on Wednesday after the producer and marketer of refined products announced a Restructuring Support Agreement (RSA) with lenders andfiled for bankruptcy protection. With full support from its lenders, Vertex Energy has commenced a Chapter 11 case in the United States Bankruptcy Court for the Southern District of Texas to expedite the transactions under the RSA. The decision comes after the company failed in the renewable energy sector. Vertex's Res ...

Daniel Grizelj I believe that Vertex (NASDAQ:VRTX) stock is significantly undervalued because investors are massively underestimating the value of the company's pain treatment, VX-548. In my view, there's a good chance of VX-548 becoming a huge blockbuster. That's because I think there's a great hunger in America for a drug which treats pain more effectively than acetaminophen and NSAIDs and which patients are unlikely to abuse. And according to my calculations, Vertex's shares do not come close to reflecti ...