Vertex Q3 2022 Earnings Report
Key Takeaways
Vertex's Q3 2022 financial results showed a 14% year-over-year increase in total revenues, reaching $126.2 million. Software subscription revenues grew by 15.3% to $106.4 million, and cloud revenues increased by 31.3% to $43.8 million. The company's ARR reached $411.5 million, a 16.6% increase year-over-year. Net loss was $(1.1) million, and Non-GAAP diluted EPS was $0.08.
Total revenues were $126.2 million, up 14.0% year-over-year.
Software subscription revenues were $106.4 million, up 15.3% year-over-year.
Cloud revenues were $43.8 million, up 31.3% year-over-year.
Annual Recurring Revenue (ARR) was $411.5 million, up 16.6% year-over-year.
Vertex
Vertex
Forward Guidance
For the fourth quarter of 2022, the Company currently expects: Revenues of $124 million to $127 million, representing growth of 11% to 14% from the fourth quarter of 2021; and Adjusted EBITDA of $15.4 million to $19.4 million, representing a decrease of $3.9 million from the fourth quarter of 2021 at the low end of the range.