Vertex Q3 2021 Earnings Report
Key Takeaways
Vertex announced financial results for the third quarter ended September 30, 2021. Total revenues were $110.7 million, up 17.0% year-over-year. The company acquired LCR-Dixon and launched the global Vertex Cloud VAT Compliance solution.
Total revenues of $110.7 million, up 17.0% year-over-year.
Software subscription revenues of $92.3 million, up 15.7% year-over-year.
Cloud revenues of $33.3 million, up 45.6% year-over-year.
Annual Recurring Revenue (“ARR”) of $352.9 million, up 15.1% year-over-year.
Vertex
Vertex
Forward Guidance
For the fourth quarter of 2021, the Company currently expects revenues in the range of $108 million to $110 million, representing growth of 8.5% to 10.6% from the fourth quarter of 2020; and Adjusted EBITDA in the range of $15 million to $17 million, representing a decrease of $(2.1) million to $(4.1) million from the fourth quarter of 2020.