Filing Flows › Technology › Vertex (VERX)
Vertex (VERX) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 5, 2026 · Vertex (VERX) Q3 2026 earnings results →
Q3 2026 Revenue up 11% year over year to $213M · 22¢ of every $1 of revenue lost · operating margin 0.1%
Vertex made $213M in Q3 2026 (+11% Y/Y): Software subscriptions $182M, Services $31.6M. Operating margin 0.1%, net loss $46.6M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 5, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $213.3M in Q3 2026, up 11% year over year and up 5% from the previous quarter. Cloud subscriptions was the largest line at 52% of revenue. Cloud subscriptions added $18.9M year over year (up 20%), 89% of the total change. Software licenses declined 3%.
Gross margin was 65.7%, up 2.6 points from Q3 2025. Operating profit was $314K, a 0.1% margin (down 2.1 points year over year). Operating profit fell $4.0M even though revenue rose $21.2M versus Q3 2025, so costs grew faster than sales. Operating expenses grew 20% against revenue growth of 11%. The fastest-growing cost line was Other operating costs (+174%). The quarter ended with a net loss of $46.6M, after a profit of $9.0M the previous quarter. Non-operating items added $342K, 52% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $53.3M (down 15% year over year). Non-cash charges added back $31.1M of depreciation and amortization and $15.4M of share-based compensation. Working capital and other items added $53.4M. After property and equipment additions ($22.8M) and capitalized software additions ($5.3M), free cash flow as the company reports it was $25.2M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 5, 2026 | $213M | +11% | 0.1% | −$46.6M | $53.3M |
| Q2 2026 | 10-Q | Aug 4, 2026 | $204M | +10% | -2.2% | $9.0M | $30.9M |
| Q1 2026 | 10-Q | May 7, 2026 | $197M | +11% | -5.4% | −$2.5M | $38.0M |
| Q4 2025 | 10-K | Feb 24, 2026 | $195M | +9% | -1.3% | −$7.0M | $42.3M |
| Q3 2025 | 10-Q | Nov 3, 2025 | $192M | +13% | 2.2% | $4.0M | $62.5M |
| Q2 2025 | 10-Q | Aug 6, 2025 | $185M | +15% | -2.1% | −$961K | $46.0M |
| Q1 2025 | 10-Q | May 7, 2025 | $177M | +13% | 2.5% | $11.1M | $14.8M |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
Loading the interactive chart…
🌏Named in Asian annual reportsinteractive
Loading the interactive chart…
🔄Rotation against the market and its industry (RRG)interactive
Loading the interactive chart…
🔍Earnings qualityinteractive
Loading the interactive chart…
⚖️Fair value by methodinteractive
Loading the interactive chart…
🔭Outlook & guidanceinteractive
Loading the interactive chart…
📈Investments: gains and what it boughtinteractive
Loading the interactive chart…
🏭Its industry’s money flow (input-output)interactive
Loading the interactive chart…
About Vertex
Vertex is a leading provider of enterprise compliance technology for global commerce. Our software, data, and services help businesses operate with confidence by automating and governing transaction-based compliance obligations that arise wherever they buy, sell, and move goods and services around the world. At the core of global commerce are transaction-based regulatory requirements that must be calculated, documented, reported, and, in many cases, digitally transmitted to tax authorities in real time. Indirect taxes—such as sales tax, use tax, and value-added tax (“VAT”)—represent a significant portion of these obligations. Unlike direct taxes, which are paid directly by the entity being taxed, indirect taxes are collected from a purchaser and remitted to taxing authorities by the seller or service provider as part of each transaction.
In its own words, from its 10-K, filed Feb 24, 2026.
Vertex against its Services-Prepackaged Software peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +11% against the peers' median +14%. Operating margin: 0.1% against the peers' median 15.2%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| VERX Vertex | Q3 2026 | $213M | +11% | 0.1% |
| MSFT Microsoft | Q1 FY27 | $92.3B | +19% | 49.8% |
| ORCL Oracle | Q1 FY27 | $19.3B | +30% | 34.8% |
| CRM Salesforce | Q2 FY27 | $11.3B | +11% | 20.5% |
| ADBE Adobe | Q3 FY26 | $6.8B | +13% | 34.8% |
| XYZ Block | Q3 2026 | $6.7B | +10% | 6.4% |
| INTU Intuit | Q4 FY26 | $4.4B | +14% | 10.9% |
| NOW ServiceNow | Q3 2026 | $4.1B | +20% | 9.4% |
| SHOP Shopify | Q3 2026 | $3.7B | +32% | 15.2% |
Source: Vertex 10-Q on SEC EDGAR · CIK 1806837 · Services-Prepackaged Software
Guidance and outlook
13F: who owns VERX and who is buying
More on VERX
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results