Vertex Announces Third Quarter 2024 Financial Results

▤ Summary

We are seeing a great deal of excitement from customers about our new comprehensive global cloud platform, which provides end-to-end workflow for determination, calculation, reporting, and compliance for e-invoicing mandates and Value-Added Tax. We believe that the coming wave of e-invoicing regulations, as well as an expected supercycle of ERP conversions, will be a multi-year tailwind for our business that will drive profitable growth for the foreseeable future.” • Annual Recurring Revenue (“ARR”) was $576.8 million, up 19.0% year-over-year. Vertex provides solutions that can be tailored to specific industries for major lines of indirect tax, including sales and consumer use, value added and payroll. Our GRR refers to how much of our MRR we retain each month after reduction for the effects of revenues lost from departing direct customers or those who have downgraded or reduced usage. Our non-GAAP financial measures are presented as supplemental disclosure as we believe they provide useful information to investors and others in understanding and evaluating our results, prospects, and liquidity period-over-period without the impact of certain items that do not directly correlate to our operating performance and that may vary significantly from period to period for reasons unrelated to our operating performance, as well as comparing our financial results to those of other companies.

▦ Linked Companies

Vertex, Inc.

$100M to $250M