NASDAQ$VERX
Vertex Inc · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Vertex reported strong financial results in Q2 2023, marked by high-teens revenue growth and a significant year-over-year increase in adjusted EBITDA.
Vertex announced strong Q2 2023 financial results, featuring high-teens revenue growth and a notable increase in adjusted EBITDA. Total revenues reached $139.7 million, up 17.1% year-over-year. The company's net revenue retention increased to 111%, and it delivered record average annual revenue per customer.
- Total revenues increased by 17.1% year-over-year, reaching $139.7 million.
- Software subscription revenues grew by 16.6% year-over-year, amounting to $117.8 million.
- Cloud revenues increased by 27.3% year-over-year, totaling $51.2 million.
- Net Revenue Retention (NRR) was 111%, compared to 110% in the same period last year.
Headline financials
Revenue & EPS history
Vertex · Revenue · Quarterly
$140M
Revenue by segment
Vertex · $21.9M total across 1 segment · Q2 2023
- Services$21.9M+20.2%100.0%
Forward guidance
For Q3 2023, Vertex expects revenues of $141 to $143 million and adjusted EBITDA of $24 to $26 million. For the full year 2023, the company expects revenues of $556 to $562 million, cloud revenue growth of 27%, and adjusted EBITDA of $93 to $97 million.
Tailwinds
- Revenue is expected to be between $141 million and $143 million for Q3 2023.
- Adjusted EBITDA is projected to be between $24 million and $26 million for Q3 2023.
- Full-year 2023 revenue is anticipated to be between $556 million and $562 million.
- Cloud revenue growth is expected to be 27% for the full year 2023.
- Adjusted EBITDA is forecasted to be between $93 million and $97 million for the full year 2023.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2023
+0.5%
Avg return
Earnings day
+0.3%
Avg return
5 days after
+4.2%
Avg return
30 days after
50%
12 / 24 earnings
Positive
+32.1%
Q4 2023
Best reaction
-20.9%
Q4 2020
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -5.2% | +6.8% | +3.9% | |
| Q4 2025 | -13.8% | -14.3% | -10.6% | |
| Q3 2025 | -8.5% | -14.8% | -13.6% | |
| Q2 2025 | -18.0% | -24.4% | -27.3% | |
| Q1 2025 | -3.1% | -3.3% | +6.1% | |
| Q4 2024 | -19.0% | -24.4% | -16.6% | |
| Q3 2024 | +17.4% | +12.8% | +28.8% | |
| Q2 2024 | -1.4% | -1.5% | -2.5% | |
| Q1 2024 | +1.3% | +5.1% | +13.7% | |
| Q4 2023 | +32.1% | +17.9% | +25.0% | |
| Q3 2023 | +21.3% | +23.7% | +27.6% | |
| Q2 2023 | +8.2% | +9.9% | +23.1% | |
| Q1 2023 | -5.9% | -7.0% | +8.7% | |
| Q4 2022 | +20.2% | +21.2% | +48.4% | |
| Q3 2022 | +11.3% | +3.1% | -7.0% | |
| Q2 2022 | +10.1% | +10.4% | +13.6% | |
| Q1 2022 | -19.7% | -5.5% | -13.2% | |
| Q4 2021 | +1.1% | -5.6% | +16.0% | |
| Q3 2021 | +1.4% | +1.1% | -14.2% | |
| Q2 2021 | -0.2% | +3.0% | +1.7% | |
| Q1 2021 | +13.5% | +20.4% | +16.7% | |
| Q4 2020 | -20.9% | -16.6% | -34.3% | |
| Q3 2020 | -10.2% | -8.8% | -1.2% | |
| Q2 2020 | +0.7% | -2.0% | +8.4% | |
| Q1 2020 | — | — | — | |
| Q4 2019 | — | — | — | |
| Q3 2019 | — | — | — | |
| Q2 2019 | — | — | — | |
| Q1 2019 | — | — | — |
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