Vertex Reported Strong Q3 Results

Vertex, Inc. (NASDAQ:VERX) reported its Q3 results, with EPS coming in at $0.08, beating the consensus estimate of $0.05. Quarterly revenue was $110.72 million, beating the consensus estimate by 5.53%. The company provided its Q4 outlook, expecting revenue of $109 million at the midpoint, above the consensus estimate of $107.5 million.

At +40% year-over-year, cloud subscription growth remains strong. Analysts at Berenberg Bank believe better customer acquisition and retention metrics offsets concerns of a flattish sequential organic growth in Q4. Following the quarter, the analysts remain bullish on the company’s robust product offering, deep partner relationships, and ability to benefit from upcoming regulatory catalysts.