Financial Performance - Total revenues for Q4 2024 were $178.5 million, representing a year-over-year increase of 15.2%[5] - Annual Recurring Revenue (ARR) was $603.1 million, reflecting a 17.7% increase year-over-year, with a 15.0% growth excluding acquisitions[5] - For full-year 2024, total revenues were $666.8 million, a 16.5% increase from the previous year[5] - Total revenues for the year ended December 31, 2024, increased to $666.776 million, up from $572.387 million in 2023, representing a growth of 16.5%[32] - Total revenues for Q4 2024 were $178,456,000, compared to $154,914,000 in Q4 2023, marking a 15.1% increase[43] Revenue Breakdown - Software subscription revenues reached $152.6 million, up 16.8% year-over-year, while cloud revenues grew by 27.0% to $76.9 million[5] - Software subscriptions revenue for Q4 2024 was $152.597 million, compared to $130.695 million in Q4 2023, reflecting a year-over-year increase of 16.7%[32] Profitability Metrics - Net loss for Q4 2024 was $(67.8) million, compared to a net income of $15.3 million in the same period last year[5] - Non-GAAP operating income for Q4 2024 was $32.5 million, an increase from $28.2 million in the prior year[5] - Adjusted EBITDA for Q4 2024 was $38.1 million, with an adjusted EBITDA margin of 21.3%, up from 20.7% year-over-year[5] - Non-GAAP net income per diluted share for Q4 2024 was $(0.43), compared to $0.09 in Q4 2023[32] - Non-GAAP net income for the year ended December 31, 2024, was $100,984,000, compared to $63,699,000 in 2023, marking a 58.5% increase[37] Cash Flow and Investments - Free cash flow for the year ended December 31, 2024, was $77,708,000, a significant increase from $6,099,000 in 2023[37] - Cash provided by operating activities for the year ended December 31, 2024, was $164,821,000, significantly higher than $74,332,000 in 2023[44] - The company expects Q1 2025 revenues to be between $175 million and $178 million, with adjusted EBITDA guidance of $33 million to $36 million[10] - Vertex plans to invest an additional $4 million in ecosio and $10 to $12 million in R&D for AI-based products and other technologies[7] Balance Sheet Highlights - Total assets as of December 31, 2024, were $1.167 billion, compared to $759.927 million in 2023, showing a significant increase of 53.5%[31] - Total liabilities increased to $987.439 million as of December 31, 2024, from $506.946 million in 2023, reflecting a rise of 94.4%[31] - The company’s cash and cash equivalents increased to $296.051 million as of December 31, 2024, compared to $68.175 million in 2023, representing a growth of 334.5%[31] - The company’s cash, cash equivalents, and restricted cash at the end of the period totaled $326,066,000, a substantial increase from $89,151,000 at the end of 2023[35] Research and Development - Research and development expenses for the year ended December 31, 2024, rose to $66.666 million, up from $58.212 million in 2023, indicating a 14.1% increase[32] - Stock-based compensation expense for the year ended December 31, 2024, was $47,425,000, compared to $33,919,000 in 2023, a 39.7% increase[40] Future Outlook - The company reported a net loss of $(67.798) million for Q4 2024, compared to a net income of $15.334 million in Q4 2023[32] - Free cash flow for Q4 2024 was $17,897,000, down from $28,843,000 in Q4 2023, a decrease of 37.9%[44] - Free cash flow margin for Q4 2024 was 10.0%, down from 18.6% in Q4 2023[44]

Core Viewpoint - Vertex, Inc. reported strong financial results for 2024, showcasing a robust business model that supports consistent revenue growth and strong cash flow, driven by increasing complexity in indirect taxes and advancements in enterprise technology [2][5]. Financial Performance Fourth Quarter 2024 Financial Results - Total revenues reached $178.5 million, reflecting a year-over-year increase of 15.2% - Software subscription revenues were $152.6 million, up 16.8% year-over-year - Cloud revenues grew to $76.9 million, marking a 27.0% increase year-over-year - Annual Recurring Revenue (ARR) was $603.1 million, up 17.7% year-over-year, with contributions from acquisitions [5][30] - Net loss was $(67.8) million, compared to a net income of $15.3 million in the same period last year [5][30] Full-Year 2024 Financial Results - Total revenues for the year were $666.8 million, an increase of 16.5% year-over-year - Software subscription revenues totaled $567.1 million, up 17.9% year-over-year - Cloud revenues reached $276.0 million, reflecting a 28.6% increase year-over-year - Non-GAAP net income was $101.0 million, with a Non-GAAP diluted EPS of $0.61 [5][30] Key Business Metrics - Average Annual Revenue per direct customer (AARPC) increased to $122,706 as of December 31, 2024, compared to $118,910 a year earlier [5] - Net Revenue Retention (NRR) was 109%, down from 113% a year earlier, while Gross Revenue Retention (GRR) remained stable at 95% [5] - Adjusted EBITDA for the fourth quarter was $38.1 million, with an adjusted EBITDA margin of 21.3%, compared to 20.7% in the prior year [5][36] Financial Outlook - For Q1 2025, the company expects revenues between $175 million to $178 million and Adjusted EBITDA between $33 million to $36 million - For the full year 2025, projected revenues are between $760 million to $768 million, with cloud revenue growth anticipated at 28% and Adjusted EBITDA between $161 million to $165 million [10][6] Strategic Investments - The company plans to invest an additional $4 million in ecosio to enhance e-invoicing initiatives and approximately $10 to $12 million in R&D for AI-based products and other technologies [6]

Core Insights - Vertex Inc. has enhanced its e-Invoicing solution to simplify electronic invoicing for businesses facing complex global tax regulations [1][4] - The solution integrates Continuous Transaction Controls (CTC) with Periodic Transaction Controls (PTC) to facilitate compliance with evolving mandates and jurisdictional requirements [1][2] Company Overview - Vertex, Inc. is a leading global provider of indirect tax solutions, focusing on delivering trusted tax technology for businesses to transact, comply, and grow confidently [6] - The company offers tailored solutions for various industries, covering major lines of indirect tax, including sales and consumer use, value-added tax, and payroll [6] Industry Context - The expansion of e-invoicing mandates worldwide necessitates businesses to navigate diverse country-specific requirements and evolving reporting obligations [2] - A unified solution is essential for managing cross-border transactions and compliance, especially as European countries adopt digital tax reporting and e-invoicing mandates [4]

KING OF PRUSSIA, Pa., Feb. 26, 2025 (GLOBE NEWSWIRE) -- Vertex Inc. (NASDAQ:VERX) (“Vertex” or the “Company”), a global provider of tax technology solutions, today announced the latest enhancement of Vertex e-Invoicing – a comprehensive solution designed to simplify electronic invoicing (e-invoicing) for businesses navigating increasingly complex global tax regulations. The release integrates Continuous Transaction Controls (CTC) with Periodic Transaction Controls (PTC) to streamline the exchange, clearance ...

Vertex, Inc. (VERX) is scheduled to report fourth-quarter 2024 results before market open on Feb. 27.Find the latest EPS estimates and surprises on Zacks Earnings Calendar.The Zacks Consensus Estimate for Vertex’s fourth-quarter 2024 earnings is pegged at 14 cents per share, implying a year-over-year increase of 7.7%.Vertex’s earnings surpassed the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 15.8%.Vertex expects its fourth-quarter 2024 revenues to be in the ran ...

The upcoming report from Vertex (VERX) is expected to reveal quarterly earnings of $0.14 per share, indicating an increase of 7.7% compared to the year-ago period. Analysts forecast revenues of $176.63 million, representing an increase of 14% year over year.Over the past 30 days, the consensus EPS estimate for the quarter has remained unchanged. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.Prior to a company's earnings release, it is of utm ...

Obtaining approval from the U.S. Food and Drug Administration (FDA) for a key medication can be a huge catalyst for a healthcare stock. It opens up new growth opportunities for the business. And investors become more bullish about its long-term prospects, and the potential the stock has to rise higher in value.Vertex Pharmaceuticals (VRTX 2.07%) has many promising treatments in its pipeline, as it looks to build out its business beyond just the cystic fibrosis (CF) drugs that have enabled it to post strong ...

Here's our initial take on Vertex Pharmaceuticals' (VRTX 0.14%) fourth-quarter financial report.Key MetricsMetricQ4 2023Q4 2024Changevs. ExpectationsRevenue$2.52 billion$2.91 billion16%BeatEarnings per share$3.71$3.50-6%MissedTrikafta/Kaftrio revenue$2.33 billion$2.72 billion17%n/aOther product revenue$184.4 million$191.2 million4%n/aVertex reported solid fourth-quarter numbers throughout its business. While the company's earnings per share came in slightly shy of expectations, top-line revenue growth was a ...

The cystic fibrosis treatment leader exceeded revenue expectations, but missed slightly on earnings per share.Vertex Pharmaceuticals(VRTX 0.14%), known for its innovative treatments, reported its fourth-quarter earnings on Feb. 10. The company's revenue increased significantly to $2.91 billion, which was above analysts' expectations of $2.78 billion. This top-line improvement was largely due to the continued success of its cystic fibrosis lineup, particularly Trikafta/Kaftrio. However, non-GAAP earnings per ...

Vertex Pharmaceuticals (VRTX) reported fourth-quarter revenue and offered an outlook for 2025 that topped analysts’ expectations.  The company said it anticipates 2025 revenue of $11.75 billion to $12 billion, representing nearly 20% growth from 2024 at the midpoint and well above analysts’ projections compiled by Visible Alpha.  Vertex's fourth-quarter revenue of $2.91 billion was up 16% year-over-year and also exceeded the analyst consensus. Adjusted earnings of $1.04 billion, or $3.98 per share, fell fr ...