Vertex Expects Q3 Revenue Of $164M-$167M Vs $165.06M Est, FY24 Revenue Of $654M-$660M Vs $656.77M Est
Portfolio Pulse from Benzinga Newsdesk
Vertex Inc. (VERX) has provided its financial outlook for Q3 2024 and FY 2024. The company expects Q3 revenues between $164M and $167M, slightly above the consensus estimate of $165.06M. For FY 2024, Vertex anticipates revenues between $654M and $660M, in line with the estimate of $656.77M. The company also projects a 28% growth in cloud revenue and adjusted EBITDA between $139M and $145M.
August 07, 2024 | 11:10 am
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Vertex Inc. (VERX) has provided its financial outlook for Q3 2024 and FY 2024. The company expects Q3 revenues between $164M and $167M, slightly above the consensus estimate of $165.06M. For FY 2024, Vertex anticipates revenues between $654M and $660M, in line with the estimate of $656.77M. The company also projects a 28% growth in cloud revenue and adjusted EBITDA between $139M and $145M.
The revenue projections for Q3 2024 are slightly above the consensus estimate, which is a positive indicator for the stock. The FY 2024 revenue projections are in line with estimates, and the 28% growth in cloud revenue is a strong positive signal. This should have a positive short-term impact on the stock price.
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