Vertex Q4 2023 Earnings Report
Key Takeaways
Vertex announced strong Q4 2023 financial results, with revenue up 18.1% year-over-year, reaching $154.9 million. The company reported a net income of $15.3 million, a significant improvement from the previous year's net loss. Annual Recurring Revenue (ARR) grew by 18.9% to $512.5 million, and the company generated its strongest quarterly free cash flow in over three years.
Total revenues increased by 18.1% year-over-year to $154.9 million.
Annual Recurring Revenue (ARR) grew by 18.9% year-over-year, reaching $512.5 million.
Net income was $15.3 million, a significant increase from the net loss of $(5.3) million in the same period last year.
The company generated its strongest quarterly free cash flow in over three years.
Vertex
Vertex
Forward Guidance
For Q1 2024, Vertex expects revenues of $152 million to $156 million and Adjusted EBITDA of $29 million to $31 million. For the full year 2024, the company expects revenues of $650 to $660 million, cloud revenue growth of 28%, and Adjusted EBITDA of $130 to $135 million.
Positive Outlook
- Revenues of $152 million to $156 million for Q1 2024.
- Adjusted EBITDA of $29 million to $31 million for Q1 2024.
- Revenues of $650 to $660 million for the full year 2024.
- Cloud revenue growth of 28% for the full year 2024.
- Adjusted EBITDA of $130 to $135 million for the full year 2024.