NASDAQ : VERX
Vertex, Inc. — Financial statements
Technology · Software - Application · United States
Last price 15.32 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 2.49B
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Financial statements
Vertex, Inc. (VERX) reported revenue of 787.44M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 787.44M | 748.44M | 666.78M | 572.39M | 491.62M | 425.55M |
| Cost of Revenue | 283.86M | 266.84M | 240.65M | 223.81M | 193.13M | 161.89M |
| Gross Profit | 503.58M | 481.60M | 426.12M | 348.58M | 298.49M | 263.66M |
| Selling, General & Admin | 373.55M | 368.35M | 320.36M | 282.60M | 246.11M | 206.01M |
| Research & Development | 91.60M | 83.72M | 66.67M | 58.21M | 41.88M | 44.02M |
| Other Operating Expenses | 22.00K | -5.00K | -699.00K | -9.00K | 2.24M | 802.00K |
| Operating Expenses | 491.08M | 476.87M | 407.28M | 356.00M | 302.66M | 262.51M |
| Operating Income | 12.50M | 4.73M | 18.84M | -7.42M | -4.17M | 1.14M |
| Interest Expense | -4.16M | -2.05M | -984.00K | |||
| Interest & Investment Income | 3.78M | 5.25M | 4.14M | |||
| Currency Exchange Gain (Loss) | 9.00K | -1.62M | -1.07M | -109.00K | -38.00K | 183.00K |
| EBT Excluding Unusual Items | 16.29M | 8.36M | 21.91M | -11.70M | -6.26M | 343.00K |
| Merger & Restructuring Charges | -18.79M | -696.00K | -4.27M | |||
| Legal Settlements | -9.23M | -10.75M | -2.03M | -4.85M | ||
| Other Unusual Items | 2.17M | 9.98M | -17.97M | -5.12M | -3.18M | |
| Pretax Income | -9.56M | 7.58M | 1.91M | -21.67M | -10.13M | -3.93M |
| Income Tax Expense | -13.13M | 368.00K | 54.64M | -8.58M | 2.17M | -2.45M |
| Net Income | 3.58M | 7.21M | -52.73M | -13.09M | -12.30M | -1.48M |
| Net Income to Common | 3.58M | 7.21M | -52.73M | -13.09M | -12.30M | -1.48M |
| Shares Outstanding (Basic) | 160.19M | 158.93M | 155.31M | 151.86M | 149.65M | 147.78M |
| Shares Outstanding (Diluted) | 162.68M | 162.42M | 155.31M | 151.86M | 149.65M | 147.78M |
| EPS (Basic) | 0.02 | 0.05 | -0.34 | -0.09 | -0.08 | -0.01 |
| EPS (Diluted) | 0.02 | 0.04 | -0.34 | -0.09 | -0.08 | -0.01 |
| Free Cash Flow | 72.44M | 69.31M | 99.05M | 25.07M | 18.32M | 58.58M |
| Free Cash Flow Per Share | 0.45 | 0.43 | 0.64 | 0.17 | 0.12 | 0.40 |
| Gross Margin | 63.95% | 64.35% | 63.91% | 60.90% | 60.72% | 61.96% |
| Operating Margin | 1.59% | 0.63% | 2.83% | -1.30% | -0.85% | 0.27% |
| Profit Margin | 0.45% | 0.96% | -7.91% | -2.29% | -2.50% | -0.35% |
| Free Cash Flow Margin | 9.20% | 9.26% | 14.85% | 4.38% | 3.73% | 13.77% |
| EBITDA | 19.39M | 11.43M | 26.02M | 1.92M | 7.37M | 10.57M |
| EBITDA Margin | 2.46% | 1.53% | 3.90% | 0.34% | 1.50% | 2.48% |
| D&A For EBITDA | 6.89M | 6.70M | 7.17M | 9.34M | 11.54M | 9.42M |
| EBIT | 12.50M | 4.73M | 18.84M | -7.42M | -4.17M | 1.14M |
| EBIT Margin | 1.59% | 0.63% | 2.83% | -1.30% | -0.85% | 0.27% |
| Effective Tax Rate | 4.86% | 2,862.13% | ||||
| Revenue as Reported | 787.44M | 748.44M | 666.78M | 572.39M | 491.62M | 425.55M |
| Advertising Expenses | 23.14M | 26.33M | 26.00M | 26.53M | 20.39M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 230.49M | 314.01M | 296.05M | 68.17M | 91.80M | 73.33M |
| Short-Term Investments | 9.16M | 9.54M | 11.17M | |||
| Cash & Short-Term Investments | 230.49M | 314.01M | 305.21M | 77.72M | 102.98M | 73.33M |
| Receivables | 153.43M | 183.45M | 164.43M | 141.75M | 102.89M | 76.93M |
| Prepaid Expenses | 9.90M | 14.30M | 16.71M | 12.08M | 8.17M | 12.25M |
| Restricted Cash | 26.50M | 24.29M | 30.02M | 20.98M | 14.95M | 24.87M |
| Other Current Assets | 71.63M | 24.67M | 19.97M | 14.09M | 14.17M | 8.29M |
| Total Current Assets | 491.94M | 560.71M | 536.33M | 266.62M | 243.15M | 195.67M |
| Property, Plant & Equipment | 18.25M | 20.26M | 20.80M | 23.68M | 22.77M | 29.88M |
| Long-Term Investments | 15.00M | 15.00M | ||||
| Goodwill | 400.34M | 392.49M | 357.82M | 257.84M | 251.84M | 270.04M |
| Other Intangible Assets | 247.24M | 238.14M | 210.26M | 132.83M | 139.70M | 124.86M |
| Long-Term Deferred Tax Assets | 127.00K | 85.00K | 19.00K | 41.71M | 30.94M | 35.30M |
| Long-Term Deferred Charges | 33.80M | 40.42M | 37.65M | 33.71M | 28.18M | 12.55M |
| Other Long-Term Assets | 3.45M | 3.73M | 3.90M | 3.54M | 2.61M | 1.90M |
| Total Assets | 1.21B | 1.27B | 1.17B | 759.93M | 719.19M | 670.21M |
| Accounts Payable | 37.31M | 37.56M | 36.22M | 23.60M | 14.33M | 13.00M |
| Accrued Expenses | 76.38M | 95.13M | 90.10M | 85.75M | 73.23M | 67.79M |
| Current Portion of Long-Term Debt | 2.50M | 2.19M | ||||
| Current Portion of Leases | 4.50M | 4.34M | 4.07M | 3.79M | 4.19M | 4.22M |
| Current Income Taxes Payable | 6.34M | 7.10M | 5.16M | 5.37M | 2.33M | 2.51M |
| Current Unearned Revenue | 382.15M | 382.84M | 339.33M | 290.14M | 268.85M | 237.34M |
| Other Current Liabilities | 57.74M | 47.70M | 62.51M | 29.63M | 38.09M | 44.27M |
| Total Current Liabilities | 564.42M | 574.66M | 537.38M | 440.78M | 403.21M | 369.13M |
| Long-Term Debt | 338.61M | 337.48M | 335.22M | 44.06M | 46.71M | |
| Long-Term Leases | 6.81M | 8.96M | 12.60M | 16.62M | 20.43M | 24.39M |
| Long-Term Unearned Revenue | 4.75M | 5.21M | 4.84M | 2.58M | 10.29M | 11.67M |
| Long-Term Deferred Tax Liabilities | 13.17M | 5.66M | 9.92M | |||
| Other Long-Term Liabilities | 41.28M | 79.94M | 87.49M | 2.91M | 8.83M | 34.94M |
| Total Liabilities | 969.04M | 1.01B | 987.44M | 506.95M | 489.47M | 440.12M |
| Common Stock | 161.00K | 159.00K | 157.00K | 154.00K | 150.00K | 149.00K |
| Additional Paid-In Capital | 347.77M | 316.33M | 278.39M | 275.15M | 244.82M | 222.62M |
| Retained Earnings | -39.57M | -46.10M | -53.31M | -586.00K | 12.51M | 24.81M |
| Treasury Stock | -56.70M | -10.09M | ||||
| Comprehensive Income & Other | -10.55M | -1.37M | -45.88M | -21.74M | -27.75M | -17.50M |
| Shareholders' Equity | 241.11M | 258.92M | 179.35M | 252.98M | 229.72M | 230.08M |
| Total Liabilities & Equity | 1.21B | 1.27B | 1.17B | 759.93M | 719.19M | 670.21M |
| Total Debt | 349.92M | 350.77M | 351.89M | 66.97M | 73.52M | 28.61M |
| Net Cash (Debt) | -119.43M | -36.76M | -46.68M | 10.75M | 29.46M | 44.73M |
| Net Cash Per Share | -0.73 | -0.23 | -0.30 | 0.07 | 0.20 | 0.30 |
| Filing Date Shares Outstanding | 162.22M | 159.45M | 158.18M | 154.33M | 151.03M | 149.15M |
| Total Common Shares Outstanding | 157.68M | 159.23M | 157.15M | 153.65M | 150.32M | 149.09M |
| Working Capital | -72.47M | -13.96M | -1.04M | -174.16M | -160.06M | -173.46M |
| Book Value Per Share | 1.53 | 1.63 | 1.14 | 1.65 | 1.53 | 1.54 |
| Tangible Book Value | -406.48M | -371.71M | -388.74M | -137.69M | -161.81M | -164.82M |
| Tangible Book Value Per Share | -2.58 | -2.33 | -2.47 | -0.90 | -1.08 | -1.11 |
| Machinery | 25.16M | 23.61M | 21.68M | 29.68M | 46.90M | 49.61M |
| Leasehold Improvements | 20.41M | 20.39M | 20.10M | 20.66M | 20.93M | 20.96M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 3.58M | 7.21M | -52.73M | -13.09M | -12.30M | -1.48M |
| Depreciation & Amortization | 6.89M | 6.70M | 7.17M | 9.34M | 11.54M | 9.42M |
| Other Amortization | 107.36M | 96.69M | 81.87M | 65.39M | 50.23M | 35.57M |
| Stock-Based Compensation | 57.00M | 57.76M | 47.42M | 33.92M | 19.73M | 26.16M |
| Other Operating Activities | -755.00K | -16.29M | 69.27M | -1.57M | 5.87M | 1.69M |
| Change in Accounts Receivable | -5.31M | -12.88M | -22.08M | -45.22M | -25.66M | 2.96M |
| Change in Accounts Payable | 6.82M | 1.23M | 11.62M | 9.24M | 1.37M | 3.85M |
| Change in Unearned Revenue | 32.49M | 35.67M | 51.10M | 18.17M | 30.77M | 24.69M |
| Change in Other Net Operating Assets | -34.45M | -10.55M | -28.83M | -1.84M | -17.68M | -12.57M |
| Operating Cash Flow | 173.61M | 165.54M | 164.82M | 74.33M | 63.85M | 90.29M |
| Capital Expenditures | -101.16M | -96.24M | -65.77M | -49.26M | -45.53M | -31.71M |
| Cash Acquisitions | -21.97M | -71.75M | -474.00K | -251.41M | ||
| Sale (Purchase) of Intangibles | -21.80M | -21.72M | -21.34M | -18.97M | -14.89M | -11.66M |
| Investment in Securities | -5.79M | 717.00K | 2.06M | -11.15M | ||
| Investing Cash Flow | -144.93M | -123.75M | -158.15M | -66.17M | -72.05M | -294.78M |
| Long-Term Debt Issued | 345.00M | 50.00M | ||||
| Total Debt Issued | 345.00M | 50.00M | ||||
| Long-Term Debt Repaid | -76.00K | -50.87M | -2.29M | -2.29M | -964.00K | |
| Total Debt Repaid | -87.00K | -76.00K | -50.87M | -2.29M | -2.29M | -964.00K |
| Net Debt Issued (Repaid) | -87.00K | -76.00K | 294.13M | -2.29M | 47.71M | -964.00K |
| Issuance of Common Stock | 4.72M | 11.94M | 11.46M | 7.33M | 3.77M | 3.92M |
| Repurchase of Common Stock | -67.48M | -39.04M | -21.52M | -9.70M | -1.10M | -12.76M |
| Other Financing Activities | -18.87M | -5.60M | -52.81M | -21.82M | -33.28M | 704.00K |
| Financing Cash Flow | -81.72M | -32.78M | 231.26M | -26.48M | 17.09M | -9.10M |
| Foreign Exchange Rate Adjustments | -736.00K | 3.21M | -1.01M | 724.00K | -352.00K | -479.00K |
| Net Cash Flow | -53.78M | 12.23M | 236.91M | -17.60M | 8.54M | -214.07M |
| Free Cash Flow | 72.44M | 69.31M | 99.05M | 25.07M | 18.32M | 58.58M |
| Free Cash Flow Margin | 9.20% | 9.26% | 14.85% | 4.38% | 3.73% | 13.77% |
| Free Cash Flow Per Share | 0.45 | 0.43 | 0.64 | 0.17 | 0.12 | 0.40 |
| Levered Free Cash Flow | 70.86M | 67.60M | 117.73M | 22.10M | 31.28M | 79.02M |
| Unlevered Free Cash Flow | 68.14M | 64.88M | 115.42M | 24.43M | 31.94M | 79.42M |
| Cash Interest Paid | 3.32M | 3.32M | 3.29M | 3.73M | 2.22M | 223.00K |
| Cash Income Tax Paid | 1.92M | 1.92M | 8.59M | 5.65M | 3.06M | 1.29M |
| Change in Working Capital | -457.00K | 13.47M | 11.81M | -19.65M | -11.21M | 18.93M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 2.57B | 3.19B | 8.32B | 4.14B | 2.18B | 2.36B |
| Enterprise Value | 2.69B | 3.22B | 8.39B | 4.15B | 2.17B | 2.34B |
| Last Close Price | 15.83 | 19.97 | 53.35 | 26.94 | 14.51 | 15.87 |
| PE Ratio | 720.36 | 441.79 | ||||
| Forward PE | 17.13 | 28.13 | 82.22 | 55.49 | 43.85 | 59.51 |
| PS Ratio | 3.26 | 4.26 | 12.48 | 7.23 | 4.43 | 5.55 |
| PB Ratio | 10.35 | 12.30 | 46.39 | 16.35 | 9.48 | 10.26 |
| P/FCF Ratio | 35.45 | 45.97 | 84.00 | 165.03 | 118.86 | 40.31 |
| P/OCF Ratio | 14.79 | 19.24 | 50.48 | 55.66 | 34.10 | 26.15 |
| PEG Ratio | 2.50 | 7.67 | 3.20 | 10.69 | ||
| EV/Sales Ratio | 3.41 | 4.31 | 12.58 | 7.25 | 4.42 | 5.51 |
| EV/EBITDA Ratio | 138.62 | 281.98 | 322.31 | 2,163.03 | 295.08 | 221.81 |
| EV/EBIT Ratio | 215.00 | 681.67 | 445.03 | 2,048.61 | ||
| EV/FCF Ratio | 37.09 | 46.51 | 84.67 | 165.48 | 118.72 | 40.01 |
| Debt / Equity Ratio | 1.45 | 1.35 | 1.96 | 0.27 | 0.32 | 0.12 |
| Debt / EBITDA Ratio | 15.20 | 23.26 | 11.85 | 11.28 | 6.63 | 1.86 |
| Debt / FCF Ratio | 4.83 | 5.06 | 3.55 | 2.67 | 4.01 | 0.49 |
| Net Debt / Equity Ratio | 0.49 | 0.14 | 0.26 | -0.04 | -0.13 | -0.19 |
| Net Debt / EBITDA Ratio | 6.16 | 3.22 | 1.79 | -5.61 | -4.00 | -4.23 |
| Net Debt / FCF Ratio | 1.65 | 0.53 | 0.47 | -0.43 | -1.61 | -0.76 |
| Asset Turnover | 0.65 | 0.61 | 0.69 | 0.77 | 0.71 | 0.69 |
| Quick Ratio | 0.68 | 0.87 | 0.87 | 0.50 | 0.51 | 0.41 |
| Current Ratio | 0.87 | 0.98 | 1.00 | 0.60 | 0.60 | 0.53 |
| Return on Equity (ROE) | 1.46% | 3.29% | -24.39% | -5.42% | -5.35% | -0.64% |
| Return on Assets (ROA) | 0.65% | 0.24% | 1.22% | -0.63% | -0.38% | 0.12% |
| Return on Invested Capital (ROIC) | 3.55% | 1.73% | -222.31% | -3.36% | -2.16% | 0.62% |
| Return on Capital Employed (ROCE) | 1.90% | 0.70% | 3.00% | -2.30% | -1.30% | 0.40% |
| Earnings Yield | 0.14% | 0.23% | -0.63% | -0.32% | -0.56% | -0.06% |
| FCF Yield | 2.82% | 2.18% | 1.19% | 0.61% | 0.84% | 2.48% |
| Buyback Yield / Dilution | -3.52% | -4.58% | -2.27% | -1.48% | -1.26% | -12.37% |