Core Insights - Vertex, Inc. reported strong financial results for Q3 2025, with a revenue increase of 12.7% year-over-year, reaching $192.1 million, and a notable growth in cloud revenues of 29.6% [5][32] - The company announced its first-ever stock repurchase program, authorizing up to $150 million for the repurchase of Class A common stock, aimed at maximizing long-term shareholder value [8][9] Financial Performance - Total revenues for Q3 2025 were $192.1 million, up 12.7% from $170.4 million in Q3 2024 [5][32] - Software subscription revenues were $164.8 million, also reflecting a 12.7% increase year-over-year [5] - Cloud revenues reached $92.0 million, marking a significant growth of 29.6% compared to the previous year [5] - Annual Recurring Revenue (ARR) was reported at $648.2 million, up 12.4% year-over-year [5] - Net income for Q3 2025 was $4.0 million, down from $7.2 million in the same period last year [5][32] Operational Highlights - The company experienced a slight decrease in Net Revenue Retention (NRR) to 107%, down from 111% in Q3 2024 [5] - Gross Revenue Retention (GRR) remained stable at 95% [5] - Non-GAAP operating income increased to $37.1 million from $33.4 million year-over-year [5] - Adjusted EBITDA for Q3 2025 was $43.5 million, compared to $38.6 million in Q3 2024, with an adjusted EBITDA margin of 22.6% [5][39] Leadership Transition - David DeStefano will transition to the role of non-executive chairperson, with Christopher Young set to take over as President and CEO, bringing extensive experience from Microsoft [2]