Alex Klar's questions to Vertex Inc (VERX) leadership • Q1 2025
Question
Alex Klar asked about trends in new logo win rates and the mix between competitive takeaways versus conversions from manual processes. He also inquired about the decline in implied license revenue.
Answer
CEO David DeStefano stated that win rates are consistent, with takeaways often driven by a competitor's poor support or a customer's growing complexity. He also credited investments in the Microsoft ecosystem for driving new wins. CFO John Schwab noted there was no change in the on-premise to cloud migration activity, which remains at 2-4% of the customer base annually.