Vertex Inc. reported a strong third quarter, with revenue growth driven by cloud and subscription services, despite challenges from customer turnover and bankruptcies. Adjusted EBITDA reached a record high, demonstrating effective cost management and operational leverage.

• Revenue of $192.1 million, up 12.7% year-over-year, with cloud revenue growing 29.6%.
• Adjusted EBITDA of $43.5 million, exceeding guidance by $2.5 million, resulting in a margin of 22.6%.
• Annual recurring revenue increased 12.4% to $648.2 million; customer count grew 14%.
• Significant share repurchase program announced, authorizing up to $150 million, indicating confidence in long-term growth.
• Strong momentum in e-invoicing and ongoing improvements in cost management enhance future growth prospects.