VERX on Nasdaq
Vertex, Inc.
American prepackaged software services company, incorporated in Delaware.
Price unavailable
Last updated Oct 18, 2026.
Overview
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Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
64.3%Gross margin2
0.3%Operating margin2
1.0%Net margin2
12.2%Revenue growth, 20252
2.8%Return on equity2
1.30×Debt to equity2
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Cloud subscriptions brought in 55% of the revenue Vertex, Inc. broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2023 | 2024 | 2025 |
|---|---|---|---|
| Cloud subscriptions | $214.6M | $276.0M | $352.9M |
| Software Licenses | $266.2M | $291.1M | $286.7M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue36¢$266.8M
- Research and development11¢$83.7M
- Other costs52¢$390.3M
- Income tax0¢$368.0K
- Profit1¢$7.2M
Out of $748.4M in revenue.2
Where each dollar of operating cash went, fiscal 2025
- Share buybacks6¢$10.1M
- Kept or used elsewhere94¢$155.4M
Out of $165.5M of cash from operations.2
Financial statements
Every line of the income statement as filed: the last 3 fiscal years, latest first.2
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Total revenues | $748.4M | $666.8M | $572.4M |
| Total cost of revenues | $266.8M | $240.7M | $223.8M |
| Gross profit | $481.6M | $426.1M | $348.6M |
| Research and development | $83.7M | $66.7M | $58.2M |
| Selling and marketing | $196.5M | $170.6M | $140.2M |
| General and administrative | $178.7M | $152.8M | $145.9M |
| Depreciation and amortization | $24.8M | $21.0M | $15.2M |
| Change in fair value of acquisition contingent earn-outs | -$17.0M | $17.5M | |
| Other operating expense (income), net | $12.6M | -$175.0K | $6.5M |
| Total operating expenses | $479.3M | $428.4M | $366.1M |
| Income (loss) from operations | $2.3M | -$2.2M | -$17.5M |
| Interest expense (income), net | -$5.2M | -$4.1M | $4.2M |
| Income (loss) before income taxes | $7.6M | $1.9M | -$21.7M |
| Income tax expense (benefit) | $368.0K | $54.6M | -$8.6M |
| Net income (loss) | $7.2M | -$52.7M | -$13.1M |
| Foreign currency translation adjustments, net of tax | -$44.5M | $24.1M | -$6.0M |
| Unrealized loss (gain) on investments, net of tax | $9.0K | -$13.0K | -$32.0K |
| Total other comprehensive income (loss), net of tax | -$44.5M | $24.1M | -$6.0M |
| Total comprehensive income (loss) | $51.7M | -$76.9M | -$7.1M |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.2
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $314.0M | $296.1M | $68.2M | |
| Funds held for customers | $24.3M | $30.0M | ||
| Accounts receivable, net of allowance of $11,466 and $16,838, respectively | $183.4M | $164.4M | $141.8M | |
| Prepaid expenses and other current assets | $39.0M | $36.7M | ||
| Investment securities available-for-sale, at fair value (amortized cost of $0 and $9,147, respectively) | $9.2M | |||
| Total current assets | $560.7M | $536.3M | ||
| Property and equipment, net of accumulated depreciation | $209.7M | $177.6M | ||
| Capitalized software, net of accumulated amortization | $35.5M | $36.4M | ||
| Goodwill and other intangible assets | $396.0M | $363.0M | ||
| Deferred commissions | $31.9M | $27.5M | $21.2M | $15.5M |
| Deferred income tax asset | $85.0K | $19.0K | ||
| Operating lease right-of-use assets | $9.7M | $12.0M | ||
| Long-term investment | $15.0M | |||
| Other assets | $12.2M | $14.1M | ||
| Total assets | $1.3B | $1.2B | ||
| Accounts payable | $37.6M | $36.2M | ||
| Accrued expenses | $43.6M | $35.2M | ||
| Customer funds obligations | $21.8M | $27.4M | ||
| Accrued salaries and benefits | $24.0M | $14.6M | ||
| Accrued variable compensation | $34.6M | $45.5M | ||
| Deferred revenue, current | $382.8M | $339.3M | ||
| Current portion of operating lease liabilities | $4.3M | $4.0M | ||
| Current portion of finance lease liabilities | $55.0K | $77.0K | ||
| Purchase commitment and contingent consideration liabilities, current | $25.9M | $35.1M | ||
| Total current liabilities | $574.7M | $537.4M | ||
| Deferred revenue, net of current portion | $5.2M | $4.8M | ||
| Debt, net of current portion | $337.5M | $335.2M | ||
| Operating lease liabilities, net of current portion | $8.9M | $12.6M | ||
| Finance lease liabilities, net of current portion | $54.0K | $10.0K | ||
| Purchase commitment and contingent consideration liabilities, net of current portion | $79.6M | $87.4M | ||
| Deferred income tax liabilities | $5.7M | $9.9M | ||
| Deferred other liabilities | $345.0K | $90.0K | ||
| Total liabilities | $1.0B | $987.4M | ||
| Treasury stock, at cost 504 and 0 shares, respectively | -$10.1M | |||
| Additional paid in capital | $316.3M | $278.4M | ||
| Accumulated deficit | -$46.1M | -$53.3M | ||
| Accumulated other comprehensive loss | -$1.4M | -$45.9M | ||
| Total stockholders' equity | $258.9M | $179.4M | $253.0M | $229.7M |
| Total liabilities and stockholders' equity | $1.3B | $1.2B | ||
| Allowance for accounts receivable | $11.5M | $16.8M | $16.3M | $9.6M |
| Amortized cost | $0 | $9.1M | ||
| Preferred stock par value (per share) | $0.00 | $0.00 | ||
| Preferred stock, shares authorized (in shares) | 30.0M shares | 30.0M shares | ||
| Preferred stock, shares issued (in shares) | 0 shares | 0 shares | ||
| Preferred stock, shares outstanding (in shares) | 0 shares | 0 shares | ||
| Treasury stock, at cost (in shares) | 504.0K shares | 0 shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $314.0M | $296.1M | $68.2M | |
| Funds held for customers | $24.3M | $30.0M | ||
| Accounts receivable, net of allowance of $11,466 and $16,838, respectively | $183.4M | $164.4M | $141.8M | |
| Prepaid expenses and other current assets | $39.0M | $36.7M | ||
| Investment securities available-for-sale, at fair value (amortized cost of $0 and $9,147, respectively) | $9.2M | |||
| Total current assets | $560.7M | $536.3M | ||
| Property and equipment, net of accumulated depreciation | $209.7M | $177.6M | ||
| Capitalized software, net of accumulated amortization | $35.5M | $36.4M | ||
| Goodwill and other intangible assets | $396.0M | $363.0M | ||
| Deferred commissions | $31.9M | $27.5M | $21.2M | $15.5M |
| Deferred income tax asset | $85.0K | $19.0K | ||
| Operating lease right-of-use assets | $9.7M | $12.0M | ||
| Long-term investment | $15.0M | |||
| Other assets | $12.2M | $14.1M | ||
| Total assets | $1.3B | $1.2B | ||
| Accounts payable | $37.6M | $36.2M | ||
| Accrued expenses | $43.6M | $35.2M | ||
| Customer funds obligations | $21.8M | $27.4M | ||
| Accrued salaries and benefits | $24.0M | $14.6M | ||
| Accrued variable compensation | $34.6M | $45.5M | ||
| Deferred revenue, current | $382.8M | $339.3M | ||
| Current portion of operating lease liabilities | $4.3M | $4.0M | ||
| Current portion of finance lease liabilities | $55.0K | $77.0K | ||
| Purchase commitment and contingent consideration liabilities, current | $25.9M | $35.1M | ||
| Total current liabilities | $574.7M | $537.4M | ||
| Deferred revenue, net of current portion | $5.2M | $4.8M | ||
| Debt, net of current portion | $337.5M | $335.2M | ||
| Operating lease liabilities, net of current portion | $8.9M | $12.6M | ||
| Finance lease liabilities, net of current portion | $54.0K | $10.0K | ||
| Purchase commitment and contingent consideration liabilities, net of current portion | $79.6M | $87.4M | ||
| Deferred income tax liabilities | $5.7M | $9.9M | ||
| Deferred other liabilities | $345.0K | $90.0K | ||
| Total liabilities | $1.0B | $987.4M | ||
| Treasury stock, at cost 504 and 0 shares, respectively | -$10.1M | |||
| Additional paid in capital | $316.3M | $278.4M | ||
| Accumulated deficit | -$46.1M | -$53.3M | ||
| Accumulated other comprehensive loss | -$1.4M | -$45.9M | ||
| Total stockholders' equity | $258.9M | $179.4M | $253.0M | $229.7M |
| Total liabilities and stockholders' equity | $1.3B | $1.2B | ||
| Allowance for accounts receivable | $11.5M | $16.8M | $16.3M | $9.6M |
| Amortized cost | $0 | $9.1M | ||
| Preferred stock par value (per share) | $0.00 | $0.00 | ||
| Preferred stock, shares authorized (in shares) | 30.0M shares | 30.0M shares | ||
| Preferred stock, shares issued (in shares) | 0 shares | 0 shares | ||
| Preferred stock, shares outstanding (in shares) | 0 shares | 0 shares | ||
| Treasury stock, at cost (in shares) | 504.0K shares | 0 shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.2
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net income (loss) | $7.2M | -$52.7M | -$13.1M |
| Depreciation and amortization | $96.9M | $82.7M | $71.9M |
| Amortization of cloud computing implementation costs | $3.7M | $4.0M | $2.6M |
| Provision for subscription cancellations and non-renewals | $2.7M | $199.0K | $2.1M |
| Amortization of deferred financing costs | $2.7M | $2.0M | $266.0K |
| Change in fair value of contingent consideration liabilities | -$16.8M | $14.9M | |
| Change in settlement value of deferred purchase commitment liability | $423.0K | ||
| Write-off of deferred financing costs | $276.0K | ||
| Stock-based compensation expense | $57.8M | $47.4M | $33.9M |
| Deferred income taxes | -$5.4M | $51.1M | -$11.6M |
| Non-cash operating lease costs | $3.3M | $2.9M | $2.6M |
| Other | -$54.0K | -$203.0K | $5.3M |
| Accounts receivable | -$12.9M | -$22.1M | -$45.2M |
| Prepaid expenses and other current assets | -$5.8M | -$14.2M | -$6.4M |
| Deferred commissions | -$4.4M | -$6.2M | -$5.8M |
| Accounts payable | $1.2M | $11.6M | $9.2M |
| Accrued expenses | $8.1M | -$12.3M | $5.8M |
| Accrued and deferred compensation | -$5.2M | $9.2M | $7.5M |
| Deferred revenue | $35.7M | $51.1M | $18.2M |
| Operating lease liabilities | -$4.3M | -$4.0M | -$4.2M |
| Payments for purchase commitment and contingent consideration liabilities in excess of initial fair value | -$200.0K | -$4.4M | |
| Other | $1.2M | $3.1M | $1.2M |
| Net cash provided by operating activities | $165.5M | $164.8M | $74.3M |
| Acquisition of businesses and assets, net of cash acquired | -$71.8M | ||
| Long-term investment | -$15.0M | ||
| Property and equipment additions | -$96.2M | -$65.8M | -$49.3M |
| Capitalized software additions | -$21.7M | -$21.3M | -$19.0M |
| Purchase of investment securities, available-for-sale | -$2.4M | -$16.0M | -$16.3M |
| Proceeds from sales and maturities of investment securities, available-for-sale | $11.6M | $16.7M | $18.4M |
| Net cash used in investing activities | -$123.7M | -$158.2M | -$66.2M |
| Net increase (decrease) in customer funds obligations | -$5.6M | $9.7M | $5.6M |
| Proceeds from convertible senior notes | $345.0M | ||
| Principal payments on long-term debt | -$46.9M | -$2.2M | |
| Payments on third-party debt | -$3.9M | ||
| Payment for purchase of capped calls | -$42.4M | ||
| Payments for deferred financing costs | -$12.5M | -$1.0M | |
| Repurchases of shares | -$10.1M | ||
| Proceeds from purchases of stock under ESPP | $4.2M | $3.0M | $2.5M |
| Payments for taxes related to net share settlement of stock-based awards | -$28.9M | -$21.5M | -$9.7M |
| Proceeds from exercise of stock options | $7.7M | $8.5M | $4.8M |
| Payments for purchase commitment and contingent consideration liabilities | -$7.6M | -$6.4M | |
| Payments for deferred purchase commitments | -$20.0M | ||
| Payments of finance lease liabilities | -$76.0K | -$93.0K | -$103.0K |
| Net cash provided by (used in) financing activities | -$32.8M | $231.3M | -$26.5M |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | $3.2M | -$1.0M | $724.0K |
| Net increase (decrease) in cash, cash equivalents and restricted cash | $12.2M | $236.9M | -$17.6M |
No quarter-by-quarter statement was filed.
Leadership
Who has led Vertex, Inc., and when. Pick a name to see everywhere that person has worked.
Chief executive
Chief financial officer
2025
- Chief executive officerChristopher Young Nov 10, 2025 to now13
- Chief executive officerDavid Destefano Jul 29, 2020 to Nov 10, 202514
- PresidentChristopher Young Nov 10, 2025 to now13
- PresidentDavid Destefano Jul 29, 2020 to Nov 10, 202514
- Chief financial officerJohn R. Schwab Jul 29, 2020 to now15
Board members and other officers (14)
- Chief Accounting OfficerRyan J. Leib Mar 20, 2024 to now16
- Chief Accounting OfficerLisa Butler Jul 29, 2020 to Mar 18, 202417
- Board memberMark J. Mendola Jun 11, 2025 to now18
- Board memberChristopher Young Nov 10, 2025 to now13
- Board memberPhilip Seth Saunders Jun 15, 2022 to now19
- Board memberBradley M. Gayton May 21, 2021 to now20
- Board memberAmanda Westphal Radcliffe Jul 29, 2020 to now21
- Board memberDavid Destefano Jul 29, 2020 to now14
- Board memberJeffery Westphal Jul 29, 2020 to Feb 11, 202122
- Board memberJohn Richard Stamm Jul 29, 2020 to now23
- Board memberKevin L. Robert Jul 29, 2020 to Dec 19, 202324
- Board memberStefanie Westphal Thompson Jul 29, 2020 to now25
- Board memberTerrence Kyle Jul 29, 2020 to Nov 12, 202126
- General counselBryan T.r. Rowland Jul 29, 2020 to now27
Timeline
Filings
483 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 40 major events, 282 insider forms, 43 large holders, 98 other. The latest 20:
- Oct 9, 20264 EDGAR
- Oct 8, 20263 EDGAR
- Oct 1, 20268-K EDGAR
- Aug 4, 202610-Q EDGAR
- Aug 3, 20268-K EDGAR
- Jun 12, 20264 EDGAR
- Jun 12, 20264 EDGAR
- Jun 12, 20264 EDGAR
- Jun 12, 20264 EDGAR
- Jun 12, 20264 EDGAR
- Jun 12, 20264 EDGAR
- Jun 12, 20264 EDGAR
- Jun 12, 20264 EDGAR
- Jun 11, 20268-K EDGAR
- Jun 1, 20264 EDGAR
- May 28, 2026144 EDGAR
- May 12, 2026SCHEDULE 13G EDGAR
- May 7, 202610-Q EDGAR
- May 7, 20268-K EDGAR
- Apr 29, 2026SCHEDULE 13G EDGAR
The 483 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last three years, summarized. The full record is on SEC EDGAR.
Insider trades and holders
Large holders
Investors who own more than 5% must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively. 43 such filings since October 2021, the latest 10:
- May 12, 2026SCHEDULE 13G
- Apr 29, 2026SCHEDULE 13G
- Apr 2, 2026SCHEDULE 13G/A
- Mar 27, 2026SCHEDULE 13G/A
- Jan 21, 2026SCHEDULE 13G/A
- Aug 13, 2025SCHEDULE 13G/A
- May 15, 2025SCHEDULE 13G/A
- Mar 6, 2025SCHEDULE 13G/A
- Feb 12, 2025SCHEDULE 13G/A
- Feb 5, 2025SCHEDULE 13G/A
From Forms 4 and Schedules 13D and 13G filed with the SEC.
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| BlackRock, Inc. | 6,236,152 | $71.6M | 0.0% | +576,778 |
| Vanguard Portfolio Management LLC | 4,984,133 | $57.2M | 0.0% | +203,452 |
| Morgan Stanley | 4,132,404 | $47.4M | 0.0% | −160,843 |
| Brown Advisory Inc | 3,549,052 | $40.7M | 0.1% | +1,740,108 |
| Vanguard Capital Management LLC | 3,173,883 | $36.4M | 0.0% | +58,426 |
| Tensile Capital Management LP | 2,898,563 | $33.3M | 4.6% | −500,000 |
| Jpmorgan Chase & Co | 2,528,044 | $28.8M | 0.0% | −843,126 |
| D. E. Shaw & Co., Inc. | 2,189,827 | $25.1M | 0.0% | +550,905 |
| William Blair Investment Management, LLC | 2,128,372 | $24.4M | 0.1% | +849,202 |
| State Street Corp | 2,060,692 | $23.6M | 0.0% | +149,939 |
| UBS Group AG | 2,024,166 | $23.2M | 0.0% | −3,439,868 |
| Geode Capital Management, LLC | 1,836,548 | $21.1M | 0.0% | +64,856 |
| Nomura Holdings Inc | 1,664,099 | $19.1M | 0.1% | −957,542 |
| Divisar Capital Management LLC | 1,640,895 | $18.8M | 4.3% | +445,183 |
| Healthcare Of Ontario Pension Plan Trust Fund | 1,487,000 | $17.1M | 0.0% | −1,691,800 |
| Goldman Sachs Group Inc | 1,483,311 | $17.0M | 0.0% | −880,661 |
| Arrowstreet Capital, Limited Partnership | 1,472,893 | $16.9M | 0.0% | +537,225 |
| Legacy Advisors, LLC | 1,343,838 | $15.4M | 1.4% | +59 |
| Norges Bank | 1,310,400 | $15.0M | 0.0% | New |
| Marshall Wace, Llp | 1,214,224 | $13.9M | 0.0% | +925,588 |
| Geneva Capital Management LLC | 1,186,812 | $13.6M | 0.3% | −947,879 |
| CIBC Bancorp USA Inc. | 1,054,021 | $12.1M | 0.0% | +488 |
| Freshford Capital Management, LLC | 1,047,293 | $12.0M | 4.1% | +481,746 |
| Bank Of America Corp /de/ | 986,325 | $11.3M | 0.0% | +53,807 |
| Citigroup Inc | 972,967 | $11.2M | 0.0% | −177,445 |
13F reports cover disclosed long positions in U.S. stocks only.
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1SEC EDGARVertex, Inc. filings on SEC EDGAR
- 2SEC EDGARVertex, Inc. 10-K for fiscal 2025
- 3SEC EDGARVertex, Inc. filings on SEC EDGAR
- 4SEC EDGARVertex, Inc. 10-K for fiscal 2018
- 5SEC EDGARVertex, Inc. 10-K for fiscal 2019
- 6SEC EDGARVertex, Inc. 10-K for fiscal 2020
- 7SEC EDGARVertex, Inc. 10-K for fiscal 2021
- 8SEC EDGARVertex, Inc. 10-K for fiscal 2022
- 9SEC EDGARVertex, Inc. 10-Q for fiscal 2025
- 10SEC EDGARVertex, Inc. 10-Q for fiscal 2025
- 11SEC EDGARVertex, Inc. 10-Q for fiscal 2026
- 12SEC EDGARVertex, Inc. 10-Q for fiscal 2025
- 13
- 14
- 15
- 16
- 17
- 18SEC EDGARMark J. Mendola, Board member
- 19SEC EDGARPhilip Seth Saunders, Board member
- 20SEC EDGARBradley M. Gayton, Board member
- 21
- 22SEC EDGARJeffery Westphal, Board member
- 23SEC EDGARJohn Richard Stamm, Board member
- 24SEC EDGARKevin L. Robert, Board member
- 25
- 26SEC EDGARTerrence Kyle, Board member
- 27SEC EDGARBryan T.r. Rowland, General counsel