Vertex (VERX) Tops Q2 EPS by 3c, Offers Outlook

Vertex (NASDAQ: VERX) reported Q2 EPS of $0.08, $0.03 better than the analyst estimate of $0.05. Revenue for the quarter came in at $104.9 million versus the consensus estimate of $99.63 million.

GUIDANCE:

Vertex sees Q3 2021 revenue of $104-106 million, versus the consensus of $104.2 million.

• Adjusted EBITDA in the range of $15 million to $17 million, representing a decrease of $(5.5) million to $(7.5) million from the third quarter of 2020.

Vertex sees FY2021 revenue of $414-417 million, versus the consensus of $411.8 million.

• Cloud revenues to grow in excess of 40% from the full-year 2020; and
• Adjusted EBITDA in the range of $68 million to $72 million, representing a decrease of $6.4 million to $10.4 million from the full-year 2020, reflecting additional spend in research and development as well as selling and marketing expenses to drive growth.

For earnings history and earnings-related data on Vertex (VERX) click here.

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