NASDAQ$VERX
Vertex Inc · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Vertex's third quarter performance in 2024 was marked by revenue exceeding guidance, mid-teens organic revenue growth, GAAP earnings positivity, strong Adjusted EBITDA, and significant cash flow from operating activities and free cash flow.
Vertex reported strong Q3 2024 results with revenue above guidance, mid-teens organic growth, GAAP profitability, and significant cash flow. The acquisition of ecosio was completed, expanding the company's global cloud platform for e-invoicing and VAT compliance.
- Total revenues reached $170.4 million, reflecting a 17.5% year-over-year increase.
- Software subscription revenues grew to $146.3 million, a 20.6% increase year-over-year.
- ARR increased by 19.0% year-over-year to $576.8 million, with organic growth at 16.1% excluding acquisitions.
- Net income was $7.2 million, a significant improvement from the $(3.4) million net loss in the prior year.
Headline financials
Revenue & EPS history
Vertex · Revenue · Quarterly
$170M
Revenue by segment
Vertex · $23.7M total across 1 segment · Q3 2023
- Services$23.7M+19.5%100.0%
Forward guidance
For Q4 2024, Vertex expects revenues of $175 million to $178 million and Adjusted EBITDA of $33 million to $37 million. For the full year 2024, the company expects revenues of $663.3 million to $666.3 million, cloud revenue growth of 29%, and Adjusted EBITDA of $146.9 million to $150.9 million.
Tailwinds
- Revenues of $175 million to $178 million for Q4 2024.
- Adjusted EBITDA of $33 million to $37 million for Q4 2024.
- Revenues of $663.3 million to $666.3 million for the full year 2024.
- Cloud revenue growth of 29% for the full year 2024.
- Adjusted EBITDA of $146.9 million to $150.9 million for the full year 2024.
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 2024
+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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