NASDAQ$VERX
Vertex Inc · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Vertex reported strong Q3 2023 results with revenue growth and increased ARR.
Vertex announced strong financial results for the third quarter ended September 30, 2023. Total revenues were $145.0 million, up 14.9% year-over-year. Annual Recurring Revenue (ARR) was $484.9 million, up 17.8% year-over-year. Net loss was $(3.4) million, and Non-GAAP diluted EPS was $0.10.
- Total revenues increased by 14.9% year-over-year, reaching $145.0 million.
- Software subscription revenues grew by 14.0% year-over-year, totaling $121.3 million.
- ARR increased by 17.8% year-over-year, reaching $484.9 million.
- Average Annual Revenue per direct customer (AARPC) was $112,690.
Headline financials
Revenue & EPS history
Vertex · Revenue · Quarterly
$145M
Revenue by segment
Vertex · $23.7M total across 1 segment · Q3 2023
- Services$23.7M+19.5%100.0%
Forward guidance
For the fourth quarter of 2023, the Company currently expects revenues of $145 million to $147 million and Adjusted EBITDA of $27.5 million to $29.5 million. For the full-year 2023, the Company currently expects revenues of $562.5 to $564.5 million, cloud revenue growth of 25%, and Adjusted EBITDA of $96.3 to $98.3 million.
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 Q3 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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