Vertex reported second-quarter revenue of $204 million, a 10.5% increase year over year and at the high end of its guidance range. Adjusted EBITDA surged 33% to $51 million, exceeding expectations, while the adjusted EBITDA margin expanded more than 4 percentage points to 25%. The company narrowed its full-year revenue outlook to $825 million to $830 million and raised its adjusted EBITDA guidance to $206 million to $210 million, citing improved cost discipline and operational focus. Cloud revenue grew 17.9% to $101.7 million, though management lowered the full-year cloud growth forecast to 18% due to slower-than-expected customer conversions. Annual recurring revenue reached $703.4 million, up 10.5%, and net revenue retention held steady at 105% sequentially.
VertexVertex raises full-year EBITDA guidance and beats Q2 expectations.
SAP SE
Vertex Pharmaceuticals Inc