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Vertex, Inc.

VERX Clue Score70
United States Fiscal year ends December CIK 0001806837
$12.95 +1.41% Close, 9 Oct 2026
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Price $12.95 −30.04% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 29 Jul 2020. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2018Revenue272.4Operating income−2.8Net income−6.1Fiscal year 2019Revenue321.5 +18.0%Operating income31.9Net income31.1Fiscal year 2020Revenue374.7 +16.5%Operating income−104.8Net income−75.1 −341.8%Fiscal year 2021Revenue425.5 +13.6%Operating income−2.9Net income−1.5Fiscal year 2022Revenue491.6 +15.5%Operating income−8.1Net income−12.3Fiscal year 2023Revenue572.4 +16.4%Operating income−17.5Net income−13.1Fiscal year 2024Revenue666.8 +16.5%Operating income−2.2Net income−52.7Fiscal year 2025Revenue748.4 +12.2%Operating income2.3Net income7.2
FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 272.4 321.5 374.7 425.5 491.6 572.4 666.8 748.4
Growth +18.0% +16.5% +13.6% +15.5% +16.4% +16.5% +12.2%
Operating income −2.8 31.9 −104.8 −2.9 −8.1 −17.5 −2.2 2.3
Net income −6.1 31.1 −75.1 −1.5 −12.3 −13.1 −52.7 7.2
Growth −341.8%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2018Gross margin64.9%Operating margin−1.0%Net margin−2.2%Free cash flow margin21.8%Fiscal year 2019Gross margin65.7%Operating margin9.9%Net margin9.7%Free cash flow margin22.4%Fiscal year 2020Gross margin55.9%Operating margin−28.0%Net margin−20.0%Free cash flow margin10.3%Fiscal year 2021Gross margin62.0%Operating margin−0.7%Net margin−0.3%Free cash flow margin13.8%Fiscal year 2022Gross margin60.7%Operating margin−1.6%Net margin−2.5%Free cash flow margin3.7%Fiscal year 2023Gross margin60.9%Operating margin−3.1%Net margin−2.3%Free cash flow margin4.4%Fiscal year 2024Gross margin63.9%Operating margin−0.3%Net margin−7.9%Free cash flow margin14.0%Fiscal year 2025Gross margin64.3%Operating margin0.3%Net margin1.0%
FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 64.9% 65.7% 55.9% 62.0% 60.7% 60.9% 63.9% 64.3%
Operating margin −1.0% 9.9% −28.0% −0.7% −1.6% −3.1% −0.3% 0.3%
Net margin −2.2% 9.7% −20.0% −0.3% −2.5% −2.3% −7.9% 1.0%
Free cash flow margin 21.8% 22.4% 10.3% 13.8% 3.7% 4.4% 14.0% n/a

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2018Operating cash flow80.4Capital expenditure−21.1Free cash flow59.4Buybacks−1.3Dividends paid−28.0Fiscal year 2019Operating cash flow92.5Capital expenditure−20.3Free cash flow72.2 +21.5%Buybacks−0.8Dividends paid−28.6Fiscal year 2020Operating cash flow59.5Capital expenditure−21.0Free cash flow38.6 −46.5%Dividends paid−146.1Fiscal year 2021Operating cash flow90.3Capital expenditure−31.7Free cash flow58.6 +51.8%Fiscal year 2022Operating cash flow63.8Capital expenditure−45.5Free cash flow18.3 −68.7%Fiscal year 2023Operating cash flow74.3Capital expenditure−49.3Free cash flow25.1 +36.9%Fiscal year 2024Operating cash flow164.8Capital expenditure−71.8Free cash flow93.1 +271.2%Fiscal year 2025Operating cash flow165.5Buybacks−10.1
FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 80.4 92.5 59.5 90.3 63.8 74.3 164.8 165.5
Capital expenditure −21.1 −20.3 −21.0 −31.7 −45.5 −49.3 −71.8 n/a
Free cash flow 59.4 72.2 38.6 58.6 18.3 25.1 93.1 n/a
Growth +21.5% −46.5% +51.8% −68.7% +36.9% +271.2%
Buybacks −1.3 −0.8 n/a n/a n/a n/a n/a −10.1
Dividends paid −28.0 −28.6 −146.1 n/a n/a n/a n/a n/a

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2018Cash55.8Shareholders’ equity−126.3Fiscal year 2019Cash75.9Total debt51.5Net cash (debt)24.4Shareholders’ equity−129.8Fiscal year 2020Cash303.1Total debt1.1Net cash (debt)301.9Shareholders’ equity229.3Debt to equity0.00Fiscal year 2021Cash73.3Shareholders’ equity230.1Fiscal year 2022Cash91.8Total debt48.9Net cash (debt)42.9Shareholders’ equity229.7Debt to equity0.21Fiscal year 2023Cash68.2Total debt46.6Net cash (debt)21.6Shareholders’ equity253.0Debt to equity0.18Fiscal year 2024Cash296.1Total debt335.2Net cash (debt)−39.2Shareholders’ equity179.4Debt to equity1.87Fiscal year 2025Cash314.0Total debt337.5Net cash (debt)−23.5Shareholders’ equity258.9Debt to equity1.30
FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 55.8 75.9 303.1 73.3 91.8 68.2 296.1 314.0
Total debt n/a 51.5 1.1 n/a 48.9 46.6 335.2 337.5
Net cash (debt) n/a 24.4 301.9 n/a 42.9 21.6 −39.2 −23.5
Shareholders’ equity −126.3 −129.8 229.3 230.1 229.7 253.0 179.4 258.9
Debt to equity n/a n/a 0.00 n/a 0.21 0.18 1.87 1.30

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Balance sheet

In millions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Assets
55.8 75.9 303.1 73.3 91.8 68.2 296.1 314.0
62.2 70.4 77.2 76.9 102.9 141.8 164.4 183.4
n/a 54.7 56.6 96.7 101.1 100.7 n/a n/a
n/a 0.0 16.3 270.0 251.8 257.8 357.8 392.5
n/a 264.6 558.8 670.2 719.2 759.9 1,166.8 1,270.8
Growth +111.2% +19.9% +7.3% +5.7% +53.5% +8.9%
Liabilities
n/a 50.8 0.9 n/a 2.2 2.5 n/a n/a
n/a 0.7 0.2 n/a 46.7 44.1 335.2 337.5
calc n/a 51.5 1.1 n/a 48.9 46.6 335.2 337.5
n/a 377.1 329.4 440.1 489.5 506.9 987.4 1,011.9
Equity
n/a −90.7 25.8 24.8 12.5 −0.6 −53.3 −46.1
−126.3 −129.8 229.3 230.1 229.7 253.0 179.4 258.9
Growth +0.3% −0.2% +10.1% −29.1% +44.4%
Per share and net cash
calc n/a 24.4 301.9 n/a 42.9 21.6 −39.2 −23.5

Lines marked calc are worked out here from filed figures; point at one for how.