A 45.6-percent increase in revenue from cloud-based products helped Vertex to cut its loss by more than half for the third quarter ended September. The indirect tax software company also so revenue rise 16 percent year-over-year for the recently reported quarter.Vertex lost $9.6 million for the most recently ended period, down from $21.3 million a year ago. Revenue rose to $110.7 million, up from $94.6 million in last year’s corresponding period.
In a recent earnings call, the company noted cloud-based revenue reached $33.3 million. Growth was also impacted by the acquisition of Taxamo and LCR-Dixon
