Chester, PA – Vertex, Inc. recently held their Q1 2024 Earnings Conference Call, showcasing a strong start to the year with robust financial results. The company exceeded revenue and adjusted EBITDA guidance, reflecting consistent performance driven by clear vision and precise execution. Led by President and CEO David DeStefano and CFO John Schwab, the company’s focus on accelerating global commerce through end-to-end capabilities for indirect tax has proven successful quarter after quarter.

Vertex’s ability to support customers throughout their digital transformation journey, whether locally or fully in the cloud, has resulted in strong revenue traction. Total revenue for the first quarter rose by 18.1%, with notable growth in software subscription and cloud revenue. The company’s adjusted EBITDA also saw a significant increase, reaching $36.5 million, up 80% from the previous year’s first quarter.

Recognized for their leadership in the indirect tax technology space, Vertex successfully secured $345 million of convertible debt, showcasing confidence from investors in the company’s growth prospects. The additional capital will bolster Vertex’s financial flexibility, allowing them to seize growth opportunities through organic investments or acquisitions.

Notable wins in the quarter included partnerships with global providers and risk management consulting firms, highlighting Vertex’s ability to replace homegrown tax solutions with more sophisticated offerings. The company’s strategic focus on SAP migrations has also proven fruitful, contributing to new customer acquisitions and revenue growth.

Looking ahead, Vertex remains committed to innovation, particularly in areas such as e-invoicing and AI-driven data management, to address evolving regulatory landscapes. With a strong pipeline of international opportunities and a focus on customer success, Vertex is poised for continued growth and profitability in the coming quarters.