Filing Flows › Vertex (VERX) › Q2 2026 › vs Q2 2025
Vertex (VERX) Q2 2026 vs Q2 2025 (year over year)
Vertex's revenue rose $19.4M (+11%) from $185M in Q2 2025 to $204M in Q2 2026. The biggest changes: Software subscriptions +$16.9M (+11%); Services +$2.5M (+9%).
Vertex, Q2 2026: revenue $204M (+10% year over year), operating margin -2.2%, net earnings $9.0M, operating cash flow $30.9M. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Free cash flow margin | 1.3% | 10.6% | -9.3 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Cloud subscriptions | $102M | $86.2M | $15.5M | +18% |
| Software licenses | $73.1M | $71.6M | $1.5M | +2% |
| Software subscriptions | $175M | $158M | $16.9M | +11% |
| Services | $29.2M | $26.7M | $2.5M | +9% |
| Revenue | $204M | $185M | $19.4M | +11% |
| Income tax benefit | $13.1M | $1.7M | $11.5M | +685% |
| Costs & expenses | $217M | $188M | $29.0M | +15% |
| Operating costs | $208M | $188M | $20.0M | +11% |
| Net earnings | $9.0M | −$961K | $10.0M | — |
| Cost of revenue | $72.7M | $63.4M | $9.3M | +15% |
| Research & development | $24.8M | $20.6M | $4.2M | +21% |
| Sales & marketing | $51.9M | $48.5M | $3.4M | +7% |
| General & admin | $51.1M | $43.4M | $7.8M | +18% |
| Other operating costs | $7.9M | $12.6M | −$4.7M | -38% |
| Operating cash sources | $51.9M | $34.5M | $17.5M | +51% |
| Depreciation & amortization | $29.1M | $23.4M | $5.7M | +24% |
| Share-based compensation | $13.8M | $12.0M | $1.8M | +15% |
| Working capital & other | $21.0M | −$11.5M | $32.6M | — |
| Operating cash flow | $30.9M | $46.0M | −$15.1M | -33% |
| Free cash flow (company-reported) | $2.7M | $19.6M | −$16.9M | -86% |
| Property and equipment additions | $23.2M | $21.5M | $1.7M | +8% |
| Capitalized software additions | $5.0M | $4.9M | $88K | +2% |
Questions
How much did Vertex's revenue grow year over year in Q2 2026?
Vertex's revenue rose $19.4M (+11%) from $185M in Q2 2025 to $204M in Q2 2026.
What drove Vertex's revenue change in Q2 2026?
Software subscriptions +$16.9M (+11%); Services +$2.5M (+9%).