Vertex, Inc.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 03/31/23 | FY 12/31/22 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $748.4M | $666.8M | $572.4M | — | $491.6M |
| Cost of revenue | $266.8M | $240.7M | $223.8M | — | $193.1M |
| Gross profit | $481.6M | $426.1M | $348.6M | — | $298.5M |
| Research and development | $83.7M | $66.7M | $58.2M | — | $41.9M |
| Operating expenses | $479.3M | $428.4M | $366.1M | — | $306.6M |
| Operating income | $2.3M | -$2.2M | -$17.5M | — | -$8.1M |
| Pretax income | $7.6M | $1.9M | -$21.7M | — | -$10.1M |
| Income tax expense | $368,000 | $54.6M | -$8.6M | — | $2.2M |
| Net income | $7.2M | -$52.7M | -$13.1M | — | -$12.3M |
| Balance Sheet | |||||
| Cash and equivalents | $314.0M | $296.1M | $68.2M | — | $91.8M |
| Current assets | $560.7M | $536.3M | $266.6M | $235.0M | $243.1M |
| Total assets | $1.3B | $1.2B | $759.9M | — | $719.2M |
| Current liabilities | $574.7M | $537.4M | $440.8M | — | $403.2M |
| Total liabilities | $1.0B | $987.4M | $506.9M | — | $489.5M |
| Total debt | $345.0M | $345.0M | $46.9M | — | — |
| Stockholders' equity | $258.9M | $179.4M | $253.0M | — | $229.7M |
| Cash Flow Statement | |||||
| Cash from operations | $165.5M | $164.8M | $74.3M | — | $63.8M |
| Depreciation and amortization | $96.9M | $82.7M | $71.9M | — | $61.2M |
| Stock-based compensation | $57.8M | $47.4M | $33.9M | — | $19.7M |
| Capital expenditure | — | $71.8M | $49.3M | — | $45.5M |
| Free cash flow | — | $93.1M | $25.1M | — | $18.3M |
| Share repurchases | $10.1M | — | — | — | — |
Shares outstanding 161.8M · Free float 52.1%
Annual filing data through FY ended December 31, 2025; float as of July 15, 2026.