Filing Flows › Vertex (VERX) › Q3 2026 › vs Q3 2025
Vertex (VERX) Q3 2026 vs Q3 2025 (year over year)
Vertex's revenue rose $21.2M (+11%) from $192M in Q3 2025 to $213M in Q3 2026. The biggest changes: Software subscriptions +$16.9M (+10%); Services +$4.3M (+16%).
Vertex, Q3 2026: revenue $213M (+11% year over year), operating margin 0.1%, net loss $46.6M, operating cash flow $53.3M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Free cash flow margin | 11.8% | 15.7% | -3.9 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Cloud subscriptions | $111M | $92.0M | $18.9M | +20% |
| Software licenses | $70.8M | $72.8M | −$2.0M | -3% |
| Software subscriptions | $182M | $165M | $16.9M | +10% |
| Services | $31.6M | $27.3M | $4.3M | +16% |
| Revenue | $213M | $192M | $21.2M | +11% |
| Net loss | $46.6M | −$4.0M | $50.7M | — |
| Costs & expenses | $260M | $193M | $66.9M | +35% |
| Operating costs | $213M | $188M | $25.2M | +13% |
| Income tax | $47.3M | $1.5M | $45.8M | 31× |
| Cost of revenue | $73.1M | $70.8M | $2.3M | +3% |
| Research & development | $24.7M | $19.9M | $4.8M | +24% |
| Sales & marketing | $49.7M | $47.4M | $2.3M | +5% |
| General & admin | $51.7M | $44.6M | $7.1M | +16% |
| Other operating costs | $13.9M | $5.1M | $8.8M | +174% |
| Operating cash sources | $99.9M | $58.4M | $41.5M | +71% |
| Depreciation & amortization | $31.1M | $25.1M | $6.0M | +24% |
| Share-based compensation | $15.4M | $13.2M | $2.2M | +16% |
| Working capital & other | $53.4M | $20.1M | $33.3M | +166% |
| Net loss absorbed | $46.6M | −$4.0M | $50.7M | — |
| Operating cash flow | $53.3M | $62.5M | −$9.2M | -15% |
| Free cash flow (company-reported) | $25.2M | $30.2M | −$5.0M | -16% |
| Property and equipment additions | $22.8M | $26.4M | −$3.7M | -14% |
| Capitalized software additions | $5.3M | $5.9M | −$558K | -9% |
Questions
How much did Vertex's revenue grow year over year in Q3 2026?
Vertex's revenue rose $21.2M (+11%) from $192M in Q3 2025 to $213M in Q3 2026.
What drove Vertex's revenue change in Q3 2026?
Software subscriptions +$16.9M (+10%); Services +$4.3M (+16%).