Vertex Reports Strong Q3 2026 Results with Revenue and EBITDA Exceeding Guidance
Vertex (VERX) reported robust third-quarter 2026 financial results, with total revenue reaching $213.3 million, an 11% increase year-over-year that surpassed the high end of management's guidance. The company saw significant growth in cloud revenue, which rose 20.4% to $110.8 million, fueled by momentum in its e-invoicing business and global mandates. Profitability metrics showed substantial improvement, with Adjusted EBITDA climbing 49% year-over-year to $64.8 million. This growth was supported by a strengthened non-GAAP software gross margin of 84.6%, the highest since Vertex became a public company. Despite losing an OEM in its payroll tax business, management raised full-year 2026 revenue and Adjusted EBITDA guidance, citing improved operating discipline and successful execution of their Value Creation Plan.
Tickers: $VERX
Topics: Cloud Revenue EBITDA Margin Revenue Growth Subscription Revenue