Vertex Q4 Earnings Call Highlights

Cloud revenue in the fourth quarter was $94.6 million, up 23% from the prior year period. Schwab noted the quarterly cloud growth rate was affected by lapping the Ecosio acquisition and the reduced inorganic contribution. For the full year, cloud revenue was $352.9 million, up 27.9% and generally in line with the company’s 28% growth guidance.Schwab emphasized the year-over-year impact from “true-up revenue,” which occurs when customers exceed contracted entitlements. He said true-up revenue in 2025 was app ...