Tax software provider Vertex's Q3 revenue beats estimates

Vertex

03/11/2025 12:13

Overview

Vertex Q3 revenue grows 12.7% yr/yr, beating analyst expectations

Adjusted EPS for Q3 beats consensus, reflecting robust profitability

Company announces $150 mln stock repurchase program to enhance shareholder value

Outlook

Vertex sees Q4 revenue between $192.0 mln and $196.0 mln

Vertex expects full-year revenue of $745.7 mln to $749.7 mln

Company anticipates full-year cloud revenue growth of 28%

Result Drivers

CLOUD REVENUE GROWTH - Vertex's cloud revenues increased by 29.6% yr/yr, driven by demand for cloud-based tax solutions

TAX COMPLEXITY - Increasing complexity in global tax regimes continues to drive demand for Vertex's solutions

CLOUD MIGRATIONS - Demand for Vertex's solutions is bolstered by companies migrating to cloud-based systems

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Beat
$192.11 mln
$191.70 mln (13 Analysts)
Q3 Adjusted EPS
Beat
$0.17
$0.15 (13 Analysts)

Press Release: ID:nGNX8C4ysN

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)