Vertex(US:VERX)2024-05-08 16:06Financial Performance - Vertex's TTM Q1 2024 revenue reached $596 million[8] - The company's TTM Q1 2024 Adjusted EBITDA was $117 million[8] - Subscription revenues accounted for 84% of the company's total revenue[9] - In Q1 2024, Vertex achieved total revenue of $157 million, representing an 18% year-over-year growth[29] - The ARR reached $525 million in Q1 2024[29] - Q1 2024 Adjusted EBITDA increased by more than 80% compared to Q1 2023[29] Market Position and Growth - Over 60% of the Fortune 500 are Vertex customers[8, 19] - Vertex supports customers in over 190 countries[8] - The company estimates a $22 billion total addressable market (TAM) with less than 10% software adoption[12] - The Net Revenue Retention Rate (NRR) was 112%[25, 32] - Gross Revenue Retention (GRR) was 95%[9, 32] Strategic Focus - Vertex is focused on extending its leadership in indirect tax content[26]