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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% | -113.7% |
| 2024 | $667M | $102M | $-53M | $78M | -29.4% | 16.5% | 302.7% |
| 2023 | $572M | $57M | $-13M | $6M | -5.2% | 16.4% | 6.4% |
| 2022 | $492M | $53M | $-12M | $3M | -5.4% | - | - |
| 2021 | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 491.62 | 572.39 | 666.78 | 748.44 |
| Operating 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 |
| Research And Development | - | 41.88 | 58.21 | 66.67 | 83.72 |
| Selling General And Administration | - | 246.99 | 286.17 | 323.41 | 375.17 |
| Total Expenses | - | 499.71 | 589.90 | 651.50 | 763.11 |
| Operating Income | - | -8.08 | -17.51 | 15.27 | -14.67 |
| Total Operating Income As Reported | - | -8.08 | -17.51 | -2.23 | 2.33 |
| EBITDA | - | 53.07 | 56.95 | 102.01 | 86 |
| Normalized EBITDA | - | 53.07 | 56.95 | 119.51 | 69 |
| EBIT | - | -8.08 | -17.51 | 15.27 | -14.67 |
| Interest Income | - | - | - | 4.14 | 5.25 |
| Interest Expense | 0.98 | 2.05 | 4.16 | - | - |
| Net Interest Income | - | -2.05 | -4.16 | 4.14 | 5.25 |
| Other Income Expense | - | - | - | -17.50 | 17 |
| Interest Income Non Operating | - | - | - | 4.14 | 5.25 |
| Interest Expense Non Operating | 0.98 | 2.05 | 4.16 | - | - |
| Net Non Operating Interest Income Expense | - | -2.05 | -4.16 | 4.14 | 5.25 |
| Pretax Income | - | -10.13 | -21.67 | 1.91 | 7.58 |
| Tax Provision | - | 2.17 | -8.58 | 54.64 | 0.37 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | -3.68 | 0.83 |
| Net Income Continuous Operations | - | -12.30 | -13.09 | -52.73 | 7.21 |
| Net Income From Continuing And Discontinued Operation | - | -12.30 | -13.09 | -52.73 | 7.21 |
| Net Income From Continuing Operation Net Minority Interest | - | -12.30 | -13.09 | -52.73 | 7.21 |
| Net Income | - | -12.30 | -13.09 | -52.73 | 7.21 |
| Net Income Common Stockholders | - | -12.30 | -13.09 | -52.73 | 7.21 |
| Net Income Including Noncontrolling Interests | - | -12.30 | -13.09 | -52.73 | 7.21 |
| Normalized Income | - | -12.30 | -13.09 | -38.90 | -8.96 |
| Diluted NI Availto Com Stockholders | - | -12.30 | -13.09 | -52.73 | 7.21 |
| Basic Average Shares | - | 149.65 | 151.86 | 155.09 | 158.93 |
| Diluted Average Shares | - | 149.65 | 151.86 | 155.09 | 162.42 |
| Reconciled Depreciation | - | 61.15 | 74.46 | 86.74 | 100.67 |
| Reconciled Cost Of Revenue | - | 144.42 | 164.55 | 174.86 | 190.99 |
| Total Unusual Items | - | 0 | 0 | -17.50 | 17 |
| Total Unusual Items Excluding Goodwill | - | 0 | 0 | -17.50 | 17 |
| Special Income Charges | - | 0 | 0 | -17.50 | 17 |
| Restructuring And Mergern Acquisition | - | 0 | 0 | 17.50 | -17 |
| 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 |
| General And Administrative Expense | - | 121.65 | 145.94 | 152.84 | 178.68 |
| Other Gand A | - | 121.65 | 145.94 | 152.84 | 178.68 |
| Other Operating Expenses | - | 5.27 | 6.50 | -0.18 | 12.57 |
| Selling And Marketing Expense | - | 125.34 | 140.24 | 170.57 | 196.49 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Vertex, Inc.this co. | VERX | $2.1B | 295.31↑ premium | 8.22 | 2.8% | 25.19 |
| Bandwidth Inc. | BAND | $2.3B | -181.49 | 5.86 | -3.2% | 69.40 |
| AvePoint, Inc. | AVPT | $2.3B | 66.35 | 4.82 | 7.3% | 46.83 |
| BigBear.ai Holdings, Inc. | BBAI | $2.3B | -7.77 | 3.73 | -48.0% | -8.19 |
| A10 Networks, Inc. | ATEN | $2.3B | 54.16 | 10.79 |
| - |
| - |
| - |
| - |
| 19.9% |
| 33.13 |
| LiveRamp Holdings, Inc. | RAMP | $2.2B | 15.39 | 2.31 | 15.0% | 17.01 |
| Shoals Technologies Group, Inc. | SHLS | $2.1B | 63.81 | 3.57 | 5.6% | 31.94 |
| Sonos, Inc. | SONO | $1.9B | - | 5.45 | -17.2% | 143.85 |
| Grindr Inc. | GRND | $1.9B | 20.07 | 40.46 | 201.6% | 15.27 |
| Peer Median | - | 20.07 | 5.14 | 6.4% | 32.53 | |