revenue $204.0M, net income $9.0M. Vertex Q2 FY26: Revenue +10.5% but operating loss widens; net income swings positive on tax benefit

Filed August 4, 2026 · Period ending June 30, 2026 · Compared to 10-Q Aug 6, 2025 · ~2 min read

Key Changes

• high

  Operating loss widened 15% YoY to -$4.4M while net income swung to $9.0M (from -$961K) on an $11.5M income tax benefit — the earnings improvement did not come from operations.

  MD&A: Operating Results / Notes: Income Taxes verify on EDGAR →
• high

  ARR growth decelerated to 10.5% YoY (from 16.1% prior year), with Net Revenue Retention falling to 105% (from 108%) as existing-customer expansion slowed due to lower entitlement growth and delayed multinational deal activity.

  MD&A: Key Metrics verify on EDGAR →
• high

  Adjusted EBITDA margin expanded 420 bp to 25.0% in Q2 (280 bp to 23.7% YTD) driven by the Value Creation Plan restructuring, which cut ~170 employees and incurred $7.9M in severance charges.

  MD&A: Adjusted EBITDA verify on EDGAR →