Vertex, Inc. (NASDAQ:VERX) Q4 2022 Earnings Call Transcript March 8, 2023 8:30 AM ET
Company Participants
Joe Crivelli - Vice President, Investor Relations
David DeStefano - President & Chief Executive Officer
John Schwab - Chief Financial Officer
Conference Call Participants
Matt Stotler - William Blair
Joshua Reilly - Needham & Company
Daniel Jester - BMO Capital Markets
Andrew DeGasperi - Berenberg
Samad Samana - Jefferies
Steve Enders - Citi
Alex Klar - Raymond James
Adam Hotchkiss - Goldman Sachs
Pat Walravens - JMP Securities
Operator
Greetings. Welcome to Vertex's Fourth Quarter 2022 Earnings Conference Call. At this time, all participants are in listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] Please note this conference is being recorded.
At this time, I'll now turn the conference over to Joe Crivelli, Vice President, Investor Relations. Mr. Crivelli, you may now begin.
Joe Crivelli
Hello and thanks for joining us to discuss Vertex's financial results for the fourth quarter and full ended December 31st, 2022. I'm Joe Crivelli, Vice President, Investor Relations. With me on the call today are David DeStefano, Vertex's President and CEO; and our CFO, John Schwab.
As a reminder, during this call we may make forward-looking statements related to expected future results. Our actual results may differ materially from our projections due to risks and uncertainties. These risks and uncertainties are described in our earnings release and filings with the Securities and Exchange Commission.
Today's remarks will also include references to non-GAAP financial measures. Additional information, including reconciliation between non-GAAP financial information to the GAAP financial information is provided in the press release. This conference call is being recorded and will be available for replay via webcast on our Investor Relations website.
With that, I'll now turn the call over to David.
David DeStefano
Thank you, Joe. Welcome everyone and thank you for joining us. I'm pleased to speak with you today about Vertex's financial results. Businesses today face immense regulatory change and indirect tax complexity. These challenges intensify as they expand into new regions, diversify offerings, and accelerate e-commerce growth and that's why we continue to see tax technology growing in both value and demand.
Our company's vision to accelerate global commerce has never been more relevant. Our solutions give enterprise and mid-market businesses alike the confidence to manage tax compliance at scale in over 20,000 jurisdictions around the world.
Against this backdrop, Vertex executed extremely well in 2022, finishing on a high note with our best quarter of the year. Revenues in the quarter reached a record $131.1 million, up 17.4% from Q4 2021. This is the highest year-over-year revenue growth that we have delivered as a public company and we closed the fourth quarter with adjusted EBITDA of $20.8 million, up 8% from last year.