Vertex, Inc. earnings

Vertex closed the second quarter of fiscal 2026 with revenue of $204.0 million, up 10.5% from the prior-year quarter, and revenue for the first six months of the year reached $400.6 million, up 10.8%. Software subscriptions brought in $174.8 million, up 10.7%, and cloud revenue reached $101.7 million, up 17.9%.

Vertex entered fiscal 2026 with double-digit top-line growth but a swing to GAAP losses. Revenue for the first quarter ended March 31, 2026, was $196.6 million, up 11.1% from the prior-year quarter. Gross profit rose 10.5% to $124.9 million, while gross margin slipped 0.3 percentage points to 63.5%.

Vertex closed fiscal 2025 with a fourth quarter that showed better operating leverage even as GAAP profitability remained negative. Revenue rose 9.1% year over year to $194.7 million. Gross profit was $126.1 million, up 7.7%, but gross margin slipped to 64.8%, down 0.9 percentage points.

Vertex reported preliminary third quarter results alongside a leadership change on October 21, 2025. Revenue was $192.1 million, up 12.7% from the prior-year quarter, and $553.7 million year to date, up 13.4%. Gross profit was $121.3 million in the quarter, up 9.8%, and $355.5 million year to date, up 15.1%.

Vertex's second quarter top line grew at a double-digit rate. Revenue rose 14.6% to $184.6 million. Gross profit increased 18.0% to $121.2 million, and gross margin was 65.7%, up 1.9 percentage points. The improvement at the gross line did not reach the bottom line.

Vertex's first quarter revenue rose 12.9% to $177.1 million. Gross profit increased 18.0% to $113.0 million, and gross margin reached 63.8%, up 2.7 percentage points. Operating income was $4.5 million, a swing to a profit from the prior-year quarter, and operating margin was 2.5%, up 3.5 percentage points.

Vertex closed FY2024 with a quarter that paired revenue growth with a much wider GAAP loss. Fourth-quarter revenue was $178.5 million, up 15.2% from the prior-year quarter, and full-year revenue was $666.8 million, up 16.5%. Annual recurring revenue (ARR) ended the year at $603.1 million, up 17.7%.

Vertex's fiscal 2024 third quarter revenue rose 17.5% to $170.4 million. Deferred revenue was $304.4 million at September 30, 2024, up 14.1% from a year earlier. Gross profit rose 25.4% to $110.5 million, and gross margin improved to 64.8%, up 4.1 percentage points.

Vertex reported second quarter 2024 revenue of $161.1 million, up 15.3% from the prior-year quarter. Gross profit was $102.7 million, up 19.7%, and gross margin improved to 63.7%, a rise of 2.3 percentage points.

Vertex reported first-quarter 2024 revenue of $156.8 million, an 18.1% increase from the prior-year quarter. Gross profit rose 18.3% to $95.8 million, and gross margin was 61.1%, flat versus the prior-year quarter. The company still posted an operating loss, but it narrowed by $7.4 million to $1.6 million.

Vertex closed fiscal 2023 with fourth-quarter revenue of $154.9 million, up 18.1% from the prior-year quarter, and full-year revenue of $572.4 million, up 16.4%. Fourth-quarter gross profit was $93.6 million, up 14.6%, and full-year gross profit was $348.6 million, up 16.8%.

Vertex reported third quarter revenue of $145.0 million for the period ended September 30, 2023, up 14.9% from the prior-year quarter. Software subscription revenue of $121.3 million rose 14.0%, and cloud revenue of $54.6 million climbed 24.8%. Services revenue added $23.7 million.

Vertex's second quarter of fiscal 2023 showed solid top-line growth but continued GAAP losses. Total revenue was $139.7 million, up 17.1% year over year. Gross profit was $85.8 million, up 20.6%. Gross margin reached 61.4%, up 1.8 percentage points.

Vertex posted double-digit revenue growth in its fiscal 2023 first quarter but swung to a GAAP operating loss. Revenue was $132.8 million, up 15.5% from the prior-year quarter. Gross profit was $81.0 million, up 15.5%, and gross margin held at 61.0%, flat with the prior-year quarter. The operating line went negative.

Vertex's fourth-quarter revenue was $131.13 million, up 17.4% from the prior-year quarter. Full-year revenue was $491.62 million, up 15.5% from the prior year. Gross profit in the quarter was $81.65 million, up 20.0%, and gross margin improved to 62.3% from 60.9%.

Vertex reported third quarter 2022 total revenue of $126.2 million, up 14.0% from the prior-year quarter. Gross profit rose 13.2% to $75.6 million. The company still posted an operating loss of $0.9 million, which narrowed from the prior-year quarter, and a net loss of $1.1 million, which also narrowed.

Vertex reported fiscal 2022 second quarter revenue of $119.3 million, up 13.7% from the prior-year quarter. Year-to-date revenue was $234.3 million, up 15.3% from the first six months of 2021. The top line advanced while the company maintained a subscription-heavy model.

Vertex reported first quarter fiscal 2022 revenue of $114.98 million, up 17.0% from $98.24 million in the prior-year quarter. Software subscription revenue reached $97.1 million, up 16.6% year over year, and cloud revenue of $38.3 million climbed 42.1%.

Vertex closed fiscal 2021 with fourth-quarter revenue of $111.66 million, up 12.2% from $99.54 million in the prior-year quarter. Full-year revenue reached $425.55 million, up 13.6% from $374.66 million.

Vertex reported third quarter fiscal 2021 revenue of $110.7 million, up 17.0% from the prior-year quarter. Gross profit rose 43.2% to $66.8 million, and gross margin expanded to 60.3%, up 11.0 percentage points.

Vertex posted second quarter 2021 revenue of $104.9 million, up 15.0% year over year. Cloud revenue was $32.1 million, up 59.5%. Gross profit rose 36.4% to $67.6 million, and gross margin was 64.4%, up 10.1 percentage points from the prior-year quarter.

Vertex posted double-digit revenue growth in the first quarter of 2021. Revenue rose 10.1% to $98.2 million. Gross profit increased 23.1% to $61.3 million. Gross margin climbed to 62.4%, up 6.6 percentage points from the prior-year quarter.