Vertex reports Q1 non-GAAP EPS 15c, consensus 13c

Reports Q1 revenue $177.1M, consensus $176.99M. “Vertex (VERX) continued to perform well in the first quarter, setting us up for a strong 2025,” said David DeStefano, Vertex’s President, Chief Executive Officer and Chairperson of the Board. “Our financial results were in line with our expectations for the quarter, and we made solid progress on key strategic initiatives including e-invoicing and artificial intelligence. We remain very optimistic for our financial outlook for 2025 and our long-term market opportunity in the indirect tax automation space, despite recent geopolitical and market events.Our investment in Kintsugi AI that we announced last week gives us a front-row seat as this exciting AI startup finds new and creative ways to apply the power of Artificial Intelligence to the challenges of automating sales tax compliance for small and mid-size businesses. We believe our IP sharing agreement, which is a part of our investment, will enhance our own R&D efforts and have the potential to expedite time-to-market for our new AI-driven products.”