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.
Vertex, Inc. (NASDAQ:VERX), a leading provider of indirect tax solutions, has announced its first quarter 2022 earnings release scheduled for May 10, 2022, before the market opens. A conference call will follow at 8:30 a.m. ET. Additionally, CEO David DeStefano and CFO John Schwab will present at several upcoming investor conferences in June 2022, including the Jefferies Software Conference and the William Blair Growth Stock Conference. The company continues to expand its reach, providing tailored tax solutions to global businesses.
Vertex, Inc. (NASDAQ:VERX) highlights key tax trends for 2022, indicating a shift towards transaction-based revenue streams as states seek to replace income tax for stability. The company notes that 197 new district taxes were enacted in the U.S. in the past year, with ongoing increases in sales tax rates. Globally, jurisdictions are digitizing tax compliance, while U.S. states are considering electronic invoicing and data taxation. Vertex aims to support businesses in navigating these evolving tax environments.
Vertex, Inc. (NASDAQ: VERX) reported its Q4 and full-year 2021 financial results, showing a 12.2% year-over-year revenue growth to $111.7 million in Q4 and 13.6% growth to $425.5 million for the full year. Cloud revenues surged by 38.9% in Q4 and 46.0% for the year. The company experienced a net loss of $0.6 million in Q4, but Non-GAAP net income was $12.0 million. Vertex anticipates Q1 2022 revenues between $112.5 million and $113.5 million, and full-year revenues of $479 million to $483 million, indicating continued growth despite expected decreases in Adjusted EBITDA.
Vertex, Inc. (NASDAQ:VERX) will announce its fourth quarter and full-year 2021 earnings on March 9, 2022, prior to market opening. A conference call will follow at 8:30 a.m. ET to discuss the results. Investors can join via the Company's Investor Relations website or by phone. Vertex provides indirect tax software and solutions globally, helping businesses comply with tax regulations. With over 1,300 professionals, Vertex specializes in tailored solutions for sales, value-added, and payroll tax compliance.
Vertex, Inc. (NASDAQ:VERX) recently announced the certification of its Vertex Indirect Tax Chain Flow Accelerator by SAP for integration with SAP S/4HANA®. This integration allows businesses to automate value-added tax (VAT) treatment in their SAP systems. Vertex's long-standing partnership with SAP, spanning over 20 years, emphasizes their commitment to enhancing customer experience. The certified solution complements Vertex® Indirect Tax O Series 9.0, also certified for the Brazilian market, showcasing Vertex's comprehensive offerings tailored for diverse business needs.
Dooap has integrated its Accounts Payable (AP) automation solution with Vertex, Inc. to enhance tax compliance within Microsoft Dynamics 365 Finance. This integration allows companies to automate tax management, improving efficiency and customer experience. The seamless technology ensures consistent and accurate tax updates, complying with regulatory changes without manual tracking. Vertex's tax engine will assist users in managing complex tax landscapes within their ERP systems, benefiting Dynamics 365 Finance customers.
Vertex, Inc. (NASDAQ:VERX) has launched its new Vertex Indirect Tax O Series Edge cloud solution, enhancing tax management for global retailers. This solution allows omnichannel retailers to automate and deploy tax engines in real-time during transactions, boosting performance and scalability. Vertex O Series Edge aims to meet the growing demand for efficient tax compliance amid changing regulations. The technology facilitates local tax calculations, ensuring efficient customer experiences during transactions.
Vertex, Inc. (NASDAQ:VERX) announced that its Vertex Indirect Tax O Series 9.0 solution has received certification from SAP as built on the SAP Business Technology Platform (BTP). This enhancement aims to support the complex tax requirements for companies in Brazil, ensuring that Vertex solutions meet SAP standards. The certification allows businesses using SAP technologies to automate intricate tax scenarios confidently. Vertex is a leading provider of indirect tax software, helping organizations navigate over 19,000 tax jurisdictions worldwide.
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Vertex, Inc. (NASDAQ: VERX) reported a third-quarter 2021 revenue of $110.7 million, marking a 17.0% increase year-over-year. Software subscription revenues grew to $92.3 million (up 15.7%), while cloud revenue surged 45.6% to $33.3 million. The company posted a net loss of $(3.9) million, less than the $(21.0) million loss from the previous year. For Q4 2021, Vertex expects revenues between $108 million and $110 million, and a decrease in adjusted EBITDA. Full-year guidance predicts $422 million to $424 million in revenues, reflecting 12.6% to 13.2% growth.