Vertex, Inc. (VERX) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, and welcome to the Vertex first quarter 2026 earnings call. At this time, all participants are in a listen-only mode. A question and answer session will follow management's prepared remarks, and we ask that you please hold all questions until that time. I will then provide instructions for the question and answer session. As a reminder, this conference is being recorded. If you have any objections, please disconnect at this time. I will now turn the call over to Joe Crivelli, Vice President of Investor Relations, for introductory remarks. Hello, and thanks for joining us to discuss Vertex's first quarter results. Chris Young, our president and CEO, and John Schwab, our CFO, are with us today. As noted on slide two during this call, we may make forward-looking statements about expected future results. Actual results may differ due to risks and uncertainties. These risks and uncertainties are described in our filings with the Securities and Exchange Commission. Our remarks today will also include references to non-GAAP metrics. A reconciliation of these metrics to GAAP is also provided in today's press release. This call is being recorded and will be available for replay on our investor relations website. I'll now turn the call over to Chris. Welcome everyone, and thank you for joining us. Vertex delivered strong first quarter results. Revenue was $196.6 million, and adjusted EBITDA was $44.1 million, both above the high end of our guidance for the quarter. Notably, customer retention, usage patterns, and buying behavior were all consistent with what we saw exiting last year, even as the macro environment remains mixed and IT spending scrutiny persists. But more importantly, this quarter reinforces the fundamentals of our business. Vertex is at the center...