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. reports developments in enterprise tax and compliance technology for global commerce, with recurring updates on indirect tax solutions, financial results, cloud revenue, and product innovation. The company provides tax determination, e-invoicing, compliance and reporting, tax data management, and related software for sales and consumer use tax, value-added tax, payroll, and other indirect tax workflows.
Company news also covers AI-driven capabilities within Vertex Cloud, availability of Vertex O Series Tax Engine and Indirect Tax Accelerator through Oracle Marketplace, acquisition activity such as Brinta in Latin America, and Vertex research on sales tax rates and rules changes across U.S. jurisdictions.
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Vertex (NASDAQ:VERX), a global leader in indirect tax solutions, will release its first-quarter 2023 financial results on May 10, 2023, before market opens. A conference call to discuss these results is scheduled for 8:30 a.m. Eastern Time that same day. Interested participants can join by dialing 1-412-317-0494 or via the company's Investor Relations website. The call will also have a replay available shortly after the live session, expiring on May 24, 2023. Vertex focuses on providing trusted tax technology, serving global businesses in diverse sectors. The company's tax solutions cater to various industries, supporting compliance and growth with over 1,300 employees worldwide.
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.