Vertex, Inc. (VERX)
Vertex, Inc. specializes in delivering advanced tax technology solutions to corporations across various sectors, including retail, communication, leasing, and manufacturing. These services are provided to clients both within the United States and globally. Its comprehensive product portfolio encompasses tools for tax determination, compliance and reporting, efficient tax data and document management, pre-built integration capabilities, and specialized solutions tailored to specific industries. Clients can access their software through traditional on-premise licenses or via cloud-based Software as a Service (SaaS) subscriptions. Beyond its software offerings, Vertex also delivers essential support services. These include implementation and training for its licensed and cloud-based products, as well as outsourced transaction tax return processing and other ancillary tax-related consultations. Established in 1978, Vertex, Inc. has its headquarters situated in King of Prussia, Pennsylvania.
Sector: Services-Prepackaged Software
Industry: Software - Application
Vertex, Inc.
NASDAQ:VERXTechnology · Software - Application
+4.33%$15.92
CLOSED · Nov 4Prev close$15.26+4.33%Close$15.92+14.30%AH close$18.20
AH$18.20+14.30%vs close
Mkt Cap$2.58B
Float73.79M
O/S162.22M
VOL1.9M sh
$ Vol$30.49M
RVOL1.43×
Inst Own45.9%
Dilution
Financials Summary
Revenue$748.44M
Net Income$7.21M
Total Assets$1.27B
Free Cash Flow$47.59M
Debt & Equity
Debt 58%
Equity 42%
Total Debt$359.62M
Total Equity$258.92M
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in VERX's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$1.27B
Liabilities$1.01B
Accounts Receivable$183.45M
Accounts Payable$37.56M
Inventory$0
PP&E (Net)$219.41M
Goodwill$392.49M
Intangible Assets$38.99M
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Revenue | $748.44M | $666.78M | $572.39M | $491.62M | $425.55M | $374.67M | $321.5M | $272.4M |
| YoY Growth | 12.2% | 16.5% | 16.4% | 15.5% | 13.6% | 16.5% | 18.0% | - |
| Cost of Revenue | $293.93M | $240.65M | $223.81M | $193.13M | $161.89M | $165.39M | $110.38M | $95.7M |
| Gross Profit | $454.51M | $426.13M | $348.58M | $298.49M | $263.66M | $209.28M | $211.12M | $176.71M |
| Gross Margin | 60.7% | 63.9% | 60.9% | 60.7% | 62.0% | 55.9% | 65.7% | 64.9% |
| Research and Development | $83.72M | $66.67M | $58.21M | $41.88M | $44.02M | $54.34M | $30.56M | $23.75M |
| Selling, General, and Administrative | $368.35M | $323.41M | $286.17M | $246.99M | $206.01M | $248.47M | $139.14M | $115.84M |
| Other | $10.29M | $38.28M | $21.7M | $17.71M | $16.57M | $11.22M | $9.57M | $7.25M |
| Total Operating Expenses | $462.36M | $428.35M | $366.09M | $306.57M | $266.6M | $314.04M | $179.27M | $146.85M |
| Operating Income (EBIT) | -$7.85M | -$2.23M | -$17.51M | -$8.08M | -$2.94M | -$104.76M | $31.86M | -$2.83M |
| Operating Margin | -1.0% | -0.3% | -3.1% | -1.6% | -0.7% | -28.0% | 9.9% | -1.0% |
| Interest Expense | $0 | $0 | $4.16M | $2.05M | $984K | $3.11M | $2.04M | $2.12M |
| Interest Income | $5.25M | $4.14M | $0 | $0 | $0 | $0 | $1.08M | $526K |
| Other Income (Expense) | $15.43M | $4.14M | -$4.16M | -$2.05M | -$984K | -$3.11M | -$953K | -$34.41M |
| Income Before Tax (EBT) | $7.58M | $1.91M | -$21.67M | -$10.13M | -$3.93M | -$107.87M | $30.9M | -$4.43M |
| Income Tax Expense | $368K | $54.64M | -$8.58M | $2.17M | -$2.45M | -$32.79M | -$155K | $1.68M |
| Net Income | $7.21M | -$52.73M | -$13.09M | -$12.3M | -$1.48M | -$75.08M | $31.06M | -$6.11M |
| Net Income Margin | 1.0% | -7.9% | -2.3% | -2.5% | -0.3% | -20.0% | 9.7% | -2.2% |
| Supplementary Data | ||||||||
| EPS | 0.05 | -0.34 | -0.09 | -0.08 | -0.01 | -0.60 | 0.21 | -0.05 |
| Diluted EPS | 0.04 | -0.34 | -0.09 | -0.08 | -0.01 | -0.60 | 0.21 | -0.05 |
| Weighted Average OS | 144.22M | 155.09M | 151.86M | 149.65M | 147.78M | 131.51M | 146.17M | 124.33M |
| EBITDA | $104.51M | $102.01M | $56.95M | $53.07M | $41.84M | -$72.54M | $57.05M | $22.07M |
| EBITDA Margin | 14.0% | 15.3% | 9.9% | 10.8% | 9.8% | -19.4% | 17.7% | 8.1% |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Assets | ||||||||
| Current Assets | ||||||||
| Cash and Cash Equivalents | $314.01M | $296.05M | $68.17M | $91.8M | $73.33M | $303.05M | $75.9M | $55.84M |
| Short-Term Investments | $0 | $9.16M | $9.54M | $11.17M | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $314.01M | $305.21M | $77.72M | $102.98M | $73.33M | $303.05M | $75.9M | $55.84M |
| Accounts Receivable | $183.45M | $164.43M | $141.75M | $102.89M | $76.93M | $77.16M | $70.37M | $62.23M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Assets | $24.29M | $34.1M | $24.97M | $14.95M | $24.87M | $9.22M | $7.59M | $14.25M |
| Total Current Assets | $560.71M | $536.33M | $266.62M | $243.15M | $195.67M | $402.69M | $165.56M | $132.32M |
| Long-Term Assets | ||||||||
| Property, Plant & Equipment Net | $219.41M | $189.51M | $115.34M | $118.28M | $118.64M | $56.56M | $54.73M | $49.48M |
| Goodwill | $392.49M | $357.82M | $257.84M | $251.84M | $270.04M | $16.33M | $0 | $0 |
| Intangible Assets | $38.99M | $41.55M | $41.17M | $44.19M | $36.1M | $34.37M | $32.08M | $23.07M |
| Long-Term Investments | $15M | $0 | $0 | $0 | $0 | $0 | $0 | $8.83M |
| Deferred Tax Assets | $85K | $19K | $41.71M | $30.94M | $35.3M | $33.83M | $219K | -$8.83M |
| Other Long-Term Assets | $44.15M | $41.55M | $37.25M | $30.8M | $14.46M | $15.01M | $12.04M | $10.2M |
| Total Long-Term Assets | $710.13M | $630.46M | $493.31M | $476.05M | $474.54M | $156.09M | $99.07M | $82.75M |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $1.27B | $1.17B | $759.93M | $719.19M | $670.21M | $558.78M | $264.62M | $215.07M |
| Liabilities | ||||||||
| Current Liabilities | ||||||||
| Accounts Payable | $37.56M | $36.22M | $23.6M | $14.33M | $13M | $8.88M | $10.73M | $6.86M |
| Short-Term Debt | $4.28M | $0 | $2.5M | $2.19M | $0 | $0 | $50.8M | $4.91M |
| Current Income Tax Payable | $0 | $5.16M | $5.37M | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $382.84M | $339.33M | $290.14M | $268.85M | $237.34M | $207.56M | $191.75M | $163.94M |
| Other Current Liabilities | $91.4M | $108.01M | $63.74M | $64.63M | $74.4M | $35.45M | $39.56M | $25.5M |
| Total Current Liabilities | $574.66M | $537.38M | $440.78M | $403.21M | $369.13M | $291.97M | $334.53M | $238.75M |
| Long-Term Liabilities | ||||||||
| Long-Term Debt | $346.38M | $335.22M | $44.06M | $46.71M | $0 | $0 | $682K | $49.97M |
| Long-Term Unearned Revenue | $5.21M | $4.84M | $2.58M | $10.29M | $11.67M | $14.7M | $14.05M | $14.76M |
| Long-Term Deferred Tax Liabilities | $5.66M | $9.92M | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Liabilities | $71.04M | $87.49M | $2.91M | $8.83M | $34.94M | $22.55M | $27.8M | $23.28M |
| Total Long-Term Liabilities | $437.25M | $450.06M | $66.17M | $86.26M | $70.99M | $37.47M | $42.53M | $88.02M |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $1.01B | $987.44M | $506.95M | $489.47M | $440.12M | $329.44M | $377.06M | $326.77M |
| Stockholders' Equity | ||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock | $159K | $157K | $154K | $150K | $149K | $146K | $54K | $54K |
| Retained Earnings | -$46.1M | -$53.31M | -$586K | $12.51M | $24.81M | $25.78M | -$90.7M | -$88.04M |
| Comprehensive Income & Other | -$1.37M | -$45.88M | -$21.74M | -$27.75M | -$17.5M | -$3.13M | -$491K | -$496K |
| Other Stockholders' Equity | $304.87M | $232.51M | $253.41M | $217.07M | $205.12M | $203.41M | -$21.79M | -$23.71M |
| Total Equity | $258.92M | $179.35M | $252.98M | $229.72M | $230.08M | $229.34M | -$112.43M | -$111.7M |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $1.27B | $1.17B | $759.93M | $719.19M | $670.21M | $558.78M | $264.62M | $215.07M |
| Supplementary Data | ||||||||
| Total Debt | $359.62M | $351.89M | $66.97M | $73.52M | $28.61M | $1.11M | $51.49M | $54.88M |
| Net Debt | $45.61M | $55.84M | -$1.21M | -$18.29M | -$44.73M | -$301.94M | -$24.42M | -$955K |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Operating Activities | ||||||||
| Net Income | $7.21M | -$52.73M | -$13.09M | -$12.3M | -$1.48M | -$75.08M | $31.06M | -$6.11M |
| Depreciation & Amortization | $96.93M | $86.74M | $74.46M | $61.15M | $44.78M | $32.22M | $25.19M | $24.9M |
| Deferred Income Tax | -$5.39M | $51.07M | -$11.57M | -$1.34M | -$3.12M | -$33.5M | -$848K | $847K |
| Stock-Based Compensation | $57.76M | $47.42M | $33.92M | $19.73M | $26.16M | $147.9M | $9.46M | $5.11M |
| Changes in Working Capital: | ||||||||
| Accounts Receivable | -$12.88M | -$22.08M | -$45.22M | -$25.66M | $2.96M | -$6.76M | -$10.12M | -$16.96M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $2.09M |
| Accounts Payable | $1.23M | $11.62M | $9.24M | $1.37M | $3.85M | -$1.84M | $3.87M | $3.4M |
| Other Working Capital | $25.32M | $26.64M | $16.33M | $13.08M | $12.12M | $17.37M | $32.35M | $33.92M |
| Total Working Capital Change | $13.67M | $16.17M | -$19.65M | -$11.21M | $18.93M | $8.77M | $26.1M | $22.45M |
| Other Non-Cash Items | -$4.64M | $16.14M | $10.27M | $7.83M | $5.01M | -$20.76M | $1.54M | $33.25M |
| Net Cash from Operating | $165.54M | $164.82M | $74.33M | $63.85M | $90.29M | $59.54M | $92.5M | $80.45M |
| Investing Activities | ||||||||
| Capital Expenditures | -$96.24M | -$65.77M | -$49.26M | -$45.53M | -$31.71M | -$20.95M | -$20.34M | -$33.31M |
| Acquisitions | $0 | -$71.75M | $0 | -$474K | -$251.41M | -$11.57M | $0 | $0 |
| Purchases of Investments | -$17.4M | -$15.99M | -$16.33M | -$16.52M | $0 | $0 | $0 | $0 |
| Sales of Investments | $11.61M | $16.71M | $18.39M | $5.36M | $0 | $0 | $0 | $0 |
| Other Investing Activities | -$21.72M | -$21.34M | -$18.97M | -$14.89M | -$11.66M | -$11.85M | -$17.22M | -$12.26M |
| Net Cash from Investing | -$123.75M | -$158.15M | -$66.17M | -$72.05M | -$294.78M | -$44.38M | -$37.56M | -$33.31M |
| Financing Activities | ||||||||
| Debt Repaid | $76K | -$294.13M | $2.29M | -$47.71M | $964K | $51.25M | $5.57M | $3.28M |
| Common Stock Issuance | $11.94M | $11.46M | $0 | $0 | $0 | $423.02M | $0 | $0 |
| Common Stock Repurchases | -$10.09M | $0 | $0 | $0 | $0 | $0 | -$841K | -$1.28M |
| Dividends Paid | $0 | $0 | $0 | -$536K | -$2.7M | -$146.12M | -$28.57M | -$28.02M |
| Other Financing Activities | -$34.55M | -$74.33M | -$24.19M | -$30.08M | -$5.43M | -$12.03M | $4.34M | $1.89M |
| Net Cash from Financing | -$32.78M | $231.26M | -$26.48M | $17.09M | -$9.1M | $213.63M | -$30.63M | -$30.7M |
| Forex Effect | $3.21M | -$1.01M | $724K | -$352K | -$479K | -$22K | $12K | -$402K |
| Net Change in Cash | $12.23M | $236.91M | -$17.6M | $8.54M | -$214.07M | $228.78M | $24.32M | $16.04M |
| Supplementary Data | ||||||||
| Operating Cash Flow | $165.54M | $164.82M | $74.33M | $63.85M | $90.29M | $59.54M | $92.5M | $80.45M |
| Capital Expenditure | -$117.95M | -$87.11M | -$68.23M | -$60.42M | -$43.37M | -$32.8M | -$37.56M | -$33.31M |
| Free Cash Flow | $47.59M | $77.71M | $6.1M | $3.43M | $46.92M | $26.74M | $54.94M | $47.13M |
| Cash at Beginning | $326.07M | $89.15M | $106.75M | $98.21M | $312.27M | $83.5M | $59.17M | $43.14M |
| Cash at End | $338.3M | $326.07M | $89.15M | $106.75M | $98.21M | $312.27M | $83.5M | $59.17M |