Vertex Q4 2022 Earnings Report
Key Takeaways
Vertex announced strong Q4 2022 results with revenue growth of 17.4% year-over-year. The company delivered positive free cash flow and saw acceleration in revenue growth. Investments in strategic acquisitions and product development are driving growth opportunities.
Total revenues increased by 17.4% year-over-year, reaching $131.1 million.
Software subscription revenues grew by 18.9% year-over-year, amounting to $110.9 million.
ARR increased by 16.5% year-over-year, reaching $431.1 million.
Net Revenue Retention rate was 110%, up from 108% in the prior year.
Vertex
Vertex
Forward Guidance
For the first quarter of 2023, the Company currently expects revenues of $131 million to $133 million, and Adjusted EBITDA of $19 million to $21 million. For the full-year 2023, the Company currently expects revenues of $550 to $556 million, Cloud revenue growth of 27%, and Adjusted EBITDA of $92 to $96 million.
Positive Outlook
- Revenues of $131 million to $133 million for Q1 2023
- Adjusted EBITDA of $19 million to $21 million for Q1 2023
- Revenues of $550 to $556 million for full year 2023
- Cloud revenue growth of 27% for full year 2023
- Adjusted EBITDA of $92 to $96 million for full year 2023