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Vertex, Inc., together with its subsidiaries, provides enterprise tax technology solutions for retail trade, wholesale trade, and manufacturing industries in the United States and internationally. The company offers transaction determination; compliance and reporting, including workflow management tools; tax data management and document management solutions; analytics and insights; pre-built integration that includes mapping data fields, and business logic and configurations; industry-specific solutions support certain industries for indirect tax needs, such as retail, communications, and leasing; and technology specific solutions, such as chain flow accelerator and SAP-specific tools. It provides implementation services, such as configuration, data migration and implementation, and support and training; E-invoicing, an end-to-end e-invoicing process; and managed services, including indirect tax return preparation, filing and tax payment, and notice management. The company sells its software products through software licenses and software as a service subscription. Vertex, Inc. has a strategic collaboration with xSuite Group GmbH to support SAP customers. The company was founded in 1978 and is headquartered in King of Prussia, Pennsylvania.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $748M | $86M | $7M | $48M | 2.8% | 12.2% | - |
| 2024 | $667M | $102M | $-53M | $78M | -29.4% | 16.5% | - |
| 2023 | $572M | $57M | $-13M | $6M | -5.2% | 16.4% | - |
| 2022 | $492M | $53M | $-12M | $3M | -5.4% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 491.62 | 572.39 | 666.78 | 748.44 |
| Cost Of Revenue | 193.13 | 223.81 | 240.65 | 266.84 |
| Gross Profit | 298.49 | 348.58 | 426.12 | 481.60 |
| Operating Expense | 306.57 | 366.09 | 410.85 | 496.27 |
| Operating Income | -8.08 | -17.51 | 15.27 | -14.67 |
| EBITDA | 53.07 | 56.95 | 102.01 | 86 |
| EBIT | -8.08 | -17.51 | 15.27 | -14.67 |
| Pretax Income | -10.13 | -21.67 | 1.91 | 7.58 |
| Tax Provision | 2.17 | -8.58 | 54.64 | 0.37 |
| Net Income | -12.30 | -13.09 | -52.73 | 7.21 |
| Net Income Common Stockholders | -12.30 | -13.09 | -52.73 | 7.21 |
| Total Expenses | 499.71 | 589.90 | 651.50 | 763.11 |
| Interest Expense | 2.05 | 4.16 | 0 | 0 |
| Interest Income | 0 | 0 | 4.14 | 5.25 |
| Research And Development | 41.88 | 58.21 | 66.67 | 83.72 |
| Selling General And Administration | 246.99 | 286.17 | 323.41 | 375.17 |
| Normalized EBITDA | 53.07 | 56.95 | 119.51 | 69 |
| Normalized Income | -12.30 | -13.09 | -38.90 | -8.96 |
| Basic EPS | -0.08 | -0.09 | -0.34 | 0.04 |
| Diluted EPS | -0.08 | -0.09 | -0.34 | 0.04 |
| Tax Effect Of Unusual Items | 0 | 0 | -3.67 | 0.83 |
| Tax Rate For Calcs | 0.21 | 0.40 | 0.21 | 0.05 |
| Total Unusual Items | 0 | 0 | -17.50 | 17 |
| Total Unusual Items Excluding Goodwill | 0 | 0 | -17.50 | 17 |
| Net Income From Continuing Operation Net Minority Interest | -12.30 | -13.09 | -52.73 | 7.21 |
| Reconciled Depreciation | 61.15 | 74.46 | 86.74 | 100.67 |
| Reconciled Cost Of Revenue | 144.42 | 164.55 | 174.86 | 190.99 |
| Net Interest Income | -2.05 | -4.16 | 4.14 | 5.25 |
| Net Income From Continuing And Discontinued Operation | -12.30 | -13.09 | -52.73 | 7.21 |
| Total Operating Income As Reported | -8.08 | -17.51 | -2.23 | 2.33 |
| Diluted Average Shares | 149.65 | 151.86 | 155.09 | 180.28 |
| Basic Average Shares | 149.65 | 151.86 | 155.09 | 180.28 |
| Diluted NI Availto Com Stockholders | -12.30 | -13.09 | -52.73 | 7.21 |
| Net Income Including Noncontrolling Interests | -12.30 | -13.09 | -52.73 | 7.21 |
| Net Income Continuous Operations | -12.30 | -13.09 | -52.73 | 7.21 |
| Other Income Expense | 0 | 0 | -17.50 | 17 |
| Special Income Charges | 0 | 0 | -17.50 | 17 |
| Restructuring And Mergern Acquisition | 0 | 0 | 17.50 | -17 |
| Net Non Operating Interest Income Expense | -2.05 | -4.16 | 4.14 | 5.25 |
| Interest Expense Non Operating | 2.05 | 4.16 | 0 | 0 |
| Interest Income Non Operating | 0 | 0 | 4.14 | 5.25 |
| Other Operating Expenses | 5.27 | 6.50 | -0.17 | 12.57 |
| Depreciation Amortization Depletion Income Statement | 12.44 | 15.20 | 20.95 | 24.81 |
| Depreciation And Amortization In Income Statement | 12.44 | 15.20 | 20.95 | 24.81 |
| Selling And Marketing Expense | 125.33 | 140.24 | 170.57 | 196.49 |
| General And Administrative Expense | 121.65 | 145.94 | 152.84 | 178.69 |
| Other Gand A | 121.65 | 145.94 | 152.84 | 178.69 |
| Operating Revenue | 491.62 | 572.39 | 666.78 | 748.44 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Vertex, Inc.this co. | VERX | $2.0B | 306.75↑ premium | 7.55 | 2.8% | 174.36 |
| EverCommerce Inc. | EVCM | $2.1B | 116.00 | 2.88 | 2.5% | 22.51 |
| ZoomInfo Technologies Inc. | GTM | $2.0B | 15.07 | 1.24 | 8.2% | 10.02 |
| A10 Networks, Inc. | ATEN | $2.0B | 46.91 | 9.34 | 19.9% | 28.97 |
| BlackLine, Inc. | BL | $1.9B | 74.43 |
| 5.49 |
| 7.4% |
| 22.45 |
| EVERTEC, Inc. | EVTC | $1.9B | 12.84 | 2.93 | 22.8% | 7.67 |
| Marqeta, Inc. | MQ | $1.9B | - | 2.51 | -1.8% | -55.78 |
| Intapp, Inc. | INTA | $1.9B | - | 4.54 | -3.5% | -100.91 |
| Agilysys, Inc. | AGYS | $1.8B | 80.80 | 7.06 | 8.7% | 52.62 |
| Peer Median | - | 60.67 | 3.73 | 7.8% | 16.24 | |