===Vertex (VERX) reported earnings on Wed 8 March 23 (b/o)

 

Vertex beats by $0.02, beats on revs; guides Q1 revs above consensus; guides FY23 revs above consensus

• Reports Q4 (Dec) earnings of $0.08 per share, excluding non-recurring items, $0.02 better than the S&P Capital IQ Consensus of $0.06; revenues rose 17.4% year/year to $131.1 mln vs the $125.98 mln S&P Capital IQ Consensus.
  • Annual Recurring Revenue ("ARR") was $431.1 million, up 16.5% year-over-year.
• Co issues upside guidance for Q1, sees Q1 revs of $131-133 mln vs. $128.36 mln S&P Capital IQ Consensus.
• "Our guidance for 2023, which indicates continued double-digit revenue growth and strengthening profitability, reflects confidence in our business. Indirect tax automation is a must-have, not a nice-to-have, in today's complex business environment and we see strong sales pipelines and little impact of a weakening economy on our business so far this year."
• Co issues upside guidance for FY23, sees FY23 revs of $550-556 mln vs. $543.93 mln S&P Capital IQ Consensus.