Welcome to our dedicated page for Vertex news (Ticker: VERX), a resource for investors and traders seeking the latest updates and insights on Vertex stock.
Vertex, Inc. (NASDAQ: VERX) is a global provider of indirect tax technology, and the VERX news page on Stock Titan aggregates company updates, press releases, and market-facing announcements related to its tax software business. Vertex focuses on software, content, and services that support indirect tax types such as sales and consumer use tax, value added tax, and payroll-related indirect tax, and its news flow reflects developments in these areas.
Investors and professionals following VERX can use this page to review earnings announcements and financial outlook updates, which the company typically reports through press releases and related Form 8-K filings. These items include quarterly financial results, commentary on subscription and cloud revenue trends, and information about stock repurchase authorizations and credit agreement amendments that affect capital allocation.
The Vertex news stream also highlights product and technology milestones. Recent releases describe AI-native and AI-driven tax automation solutions, such as Kintsugi powered by Vertex, as well as AI-enabled tools and integrations like the Vertex Configuration Agent for Microsoft Dynamics 365 and Vertex Accelerator for Oracle’s ERP offering. These announcements provide insight into how Vertex is embedding artificial intelligence and automation across the tax lifecycle and expanding its ecosystem relationships.
Another category of news focuses on strategic partnerships and leadership developments. Examples include expanded collaborations with CPA.com to support accounting firms’ sales tax compliance services, and leadership appointments such as the new Senior Vice President and Regional Manager of Europe and the succession of a new Chief Executive Officer and President. These items give context on Vertex’s regional strategy, governance, and long-term positioning in the indirect tax technology market.
By reviewing the VERX news page regularly, readers can track how Vertex communicates its financial performance, product evolution, AI initiatives, partnerships, and executive changes, all of which are documented in official company press releases and related filings.
Vertex, Inc. (NASDAQ: VERX) reported strong financial results for Q4 and full-year 2022, highlighting a 17.4% increase in revenues to $131.1 million and a 15.5% rise for the year to $491.6 million. Software subscription revenues reached $110.9 million, up 18.9%, while cloud revenues surged 34.4% to $46.6 million. Despite a net loss of $5.3 million for Q4 and $12.3 million for the year, the company achieved positive free cash flow of $3.4 million. Looking ahead, Vertex expects Q1 2023 revenues between $131 million and $133 million, and for the full year, revenues of $550 million to $556 million, signaling continued growth.
Vertex (NASDAQ:VERX) reports that 87% of sellers using marketplaces for online trading have seen revenue increases, viewing it as crucial for growth. However, a significant challenge remains, as 70% express concerns over indirect tax issues potentially limiting future marketplace use. A recent survey revealed that 81% of businesses leverage marketplaces for customer acquisition and international sales, highlighting demands for improved support in tax compliance and seamless transactions. Despite operator interest in expanding seller bases, complications related to tax management persist, with 45% of sellers indicating the need for enhanced finance and tax automation.
Vertex, Inc. (NASDAQ:VERX) announced it will release its fourth quarter 2022 financial results on March 8, 2023, before market open. A conference call to discuss these results will take place at 8:30 a.m. Eastern Time on the same day. Participants can join by dialing in or accessing a listen-only webcast via the Company’s Investor Relations website. Vertex specializes in indirect tax solutions, serving various industries and employing over 1,300 professionals globally. The Company aims to enable businesses to comply and grow confidently through tailored tax technology solutions.
Summary not available.
Vertex, Inc. (NASDAQ:VERX) has released its annual End-of-Year Sales Tax Rates and Rules report, revealing a decline in transaction tax changes across the U.S., with 542 changes noted, the lowest in eight years. Interestingly, while new district taxes decreased from an average of 180 to 115, existing district tax rate increases outnumbered decreases by a three-to-one ratio. The report highlights the ongoing trend of rising sales tax rates across jurisdictions, driven by inflation, potential recession, and declines in property and income tax revenues. Increased sales tax rates are expected as governments address budget gaps due to reduced federal funding and economic conditions.
Vertex, Inc. (NASDAQ:VERX) has announced the pricing of a public offering of 1,500,000 shares of its Class A common stock by Jeffrey R. Westphal at $15.15 per share, with the offering expected to close on November 22, 2022. Vertex will not receive any proceeds from this sale. Goldman Sachs & Co. LLC is the sole underwriter. The offering is made under a shelf registration effective since July 25, 2022, with a final prospectus to be filed with the SEC.
Vertex (NASDAQ:VERX) announced a proposed underwritten public offering of 1,500,000 shares of its Class A common stock, all offered by stockholder Jeffrey R. Westphal. Vertex will not receive any proceeds from this offering. Goldman Sachs & Co. LLC is the sole underwriter. The company had previously filed a shelf registration statement with the SEC, which became effective in July 2022. The final terms will be disclosed in a prospectus supplement. Forward-looking statements caution about uncertainties that could affect the offering's consummation.
Vertex, Inc. (NASDAQ:VERX) has achieved recognition in the SaaS Tax application market, placing in the highest scoring group according to IDC’s 2022 SaaS Customer Satisfaction Award for Tax. Vertex received top ratings for overall customer satisfaction, being evaluated by a global survey of approximately 2,400 organizations. Key strengths highlighted include ease of integration, superior features, and value for price paid. This acknowledgment reinforces Vertex’s commitment to innovative indirect tax solutions and exemplary customer service.
Vertex, Inc. (NASDAQ: VERX) reported strong Q3 2022 financial results, achieving total revenues of $126.2 million, marking a 14% year-over-year growth. Software subscription revenues grew by 15.3% to $106.4 million, while cloud revenues surged 31.3% to $43.8 million. The company also recorded an Annual Recurring Revenue (ARR) of $411.5 million, a 16.6% increase from the previous year. Despite a net loss of $(1.1) million, non-GAAP net income stood at $13.0 million. The outlook for Q4 anticipates revenues of $124 million to $127 million.
Vertex, Inc. (NASDAQ:VERX) plans to release its third quarter 2022 earnings on November 9, 2022, before markets open. A conference call will follow at 8:30 a.m. Eastern Time to discuss the results. Investors can join the call via the Company's Investor Relations website or by phone. Vertex is a leading provider of indirect tax solutions, serving global businesses with tailored solutions in sales, consumer use, and other major lines of indirect tax. The Company is headquartered in North America and operates internationally.