Vertex, Inc. (NASDAQ:VERX) Q2 2022 Earnings Conference Call August 9, 2022 8:30 AM ET
Company Participants
Joe Crivelli - Vice President of Investor Relations
David DeStefano - President and Chief Executive Officer
John Schwab - Chief Financial Officer
Conference Call Participants
Josh Reilly - Needham
Matt Stotler - William Blair
Brad Reback - Stifel
Samad Samana - Jefferies.
Daniel Jester - BMO Capital Markets
Pat Walravens - JMP Securities
Operator
Greetings, and welcome to the Vertex Second Quarter 2022 Earnings Conference Call. At this time all participants’ are in a listen-only mode. A breif question-and-answer session will follow the formal presentation. [Operator instructions] As a reminder, this conference is being recorded.
It is now my pleasure to introduce your host, Joe Crivelli, Vice President of Investor Relations at Vertex. Please go ahead.
Joe Crivelli
Good morning, everyone, and thanks for joining us for Vertex's conference call for the second quarter ended June 30, 2022. I'm Joe Crivelli, Vice President Investor Relations; David DeStefano, our CEO; and John Schwab, our CFO, joined me on the call today.
As a reminder, this call including the Q&A portion of the call may include forward-looking statements related to our 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 will be available for replay via webcast on our Investor Relations website.
And 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 proud to share our Q2 results with you today. We delivered another strong quarter of profitable growth. Total revenue was $119 million, up 14% year-over-year and exceeding the high end of our guidance. We saw solid growth across the key measures by which we monitor customer success. ARR grew in the quarter to $398 million, up over 18% year-over-year. NRR was 110%, up from 106% for the same period in 2021 and GRR was 96%, up from 94% and from the second quarter of last year.
We continue to grow our top line and sustain strong EBITDA margins, while investing for the future. Throughout the quarter, we saw strong adoption from both new and existing customers, reflecting the strength of our brand, momentum with investments we are making and sustained demand and market opportunity despite challenging economic conditions.