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Vertex Announces Second Quarter 2021 Financial Results KING OF PRUSSIA , PA – August 11 , 2021 : Vertex , Inc. ( NASDAQ : VERX ) ( " Vertex " or the " Company " ) , a global provider of tax techn solutions , today announced financial results for its second quarter ended June 30 , 2021 . ● M VERTEX " Our performance reflects strong demand across all our segments and product lines this quarter , as global businesses , governments and communities work to emerge from this past year stronger than ever , " said David DeStefano , Vertex President and Chief Executive Officer . " We continue to execute on our strategy to accelerate global commerce , with investments in go - to - market expansion and our cloud platform driving revenues from our cloud business up 59.5 % y ear over - year in the second quarter . " Second Quarter 2021 Financial Results ● ● R Total revenues of $ 104.9 million , up 15.0 % year - over - year . Software subscription revenues of $ 89.6 million , up 15.9 % year - over - year . Cloud revenues of $ 32.1 million , up 59.5 % year - over - year . Annual Recurring Revenue ( " ARR " ) of $ 336.2 million , up 14.1 % year - over - year . ARR per customer ( " ARRPC " ) was $ 80,500 at June 30 , 2021 . Net Revenue Retention ( " NRR " ) rate was 106 % in the second quarter of 2021 as compared to 105 % in the first quarter of 2021 . Loss from operations of $ ( 1.5 ) million , compared to a loss from operations of $ ( 29.0 ) million for the same period prior year . Non - GAAP operating income of $ 16.3 million , compared to $ 19.0 million for the same period prior year . Net income of $ 0.8 million , compared to a netloss of $ ( 29.1 ) million for the same period prior year . Net income ( loss ) per basic and diluted Class A and Class B share of $ 0.01 , compared to $ ( 0.24 ) per basic and diluted Class A and Class B share for the same period prior year . Non - GAAP net income of $ 12.4 million and Non - GAAP diluted EPS of $ 0.08 . Adjusted EBITDA of $ 19.2 million , compared to $ 21.5 million for the same period prior year . Adjusted EBITDA margin of 18.3 % , compared to 23.6 % for the same period prior year . Over 4,175 customers at June 30 , 2021 . Vertex Chief Financial Officer John Schwab said , " Our business performed well this quarter with sequential quarterly growth in software subscription revenues , ARR and NRR , demonstrating a focus on our customers and the ability to unlock long - term , sustainable value from our solutions . " Definitions of certain key business metrics and the non - GAAP financial measures used in this press release and reconciliations of such measures to the most directly comparable GAAP financial measures are included below under the headings " Definitions of Certain Key Business Metrics " and " Use and Reconciliation of Non - GAAP Financial Measures . " Recent Business Highlights Introduced the Taxamo Assure solution that enables e - commerce sellers to comply with the complex value - added tax ( " VAT " ) calculation and reporting obligations for thenew VAT regulations that went into effect July 1 , 2021 . Announced an expanded partnership and release integration with the Mirakl Marketplace Platform with full VAT support . Announced a certified integration with the Coupa Business Spend Management ( BSM ) Platform . Announced the integration of Vertex Lease Tax O Series with Alfa Start , built exclusively for auto leasing operations of all sizes on the cloud - based Alfa Systems . -1