AcquisitionsMay 7, 2026, 04:43 PM
Vertex Acquires Brinta; Q1 Net Loss $(2.51)M on $196.6M Revenue
AI Summary
Vertex, Inc. acquired Brinta, a Latin American provider of tax calculation, filing, and e-invoicing services, on March 2, 2026, for $21.97 million, expanding its presence in the region. For the first quarter of 2026, the company reported a net loss of $(2.51) million, or $(0.02) per share, a significant decline from a net income of $11.13 million in the prior year. Total revenues increased by 11.06% to $196.65 million, driven by growth in both software subscriptions and services. The company also repurchased $20.04 million in shares during the quarter.
Key Highlights
- Acquired Brinta, a Latin American tax solutions provider, for $21.97 million on March 2, 2026.
- Q1 2026 net loss of $(2.51) million, down from $11.13 million net income in Q1 2025.
- Basic net loss per share was $(0.02) in Q1 2026, compared to $0.07 earnings per share in Q1 2025.
- Total revenues increased 11.06% to $196.65 million in Q1 2026 from $177.06 million in Q1 2025.
- Software subscriptions revenue rose to $167.15 million, up from $150.76 million year-over-year.
- Services revenue grew to $29.50 million in Q1 2026 from $26.30 million in Q1 2025.
- Net cash provided by operating activities increased to $37.98 million from $14.81 million.
- Repurchased $20.04 million of shares in Q1 2026.