← Vertex, Inc.

Annual Trend FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
Net income (loss) ($6.1m) $31.1m ($78.9m) ($1.5m) ($12.3m) ($13.1m) ($52.7m) $7.2m
Net Income From Continuing Operations — — — — ($12.3m) ($13.1m) ($52.7m) $7.2m
Depreciation and amortization $24.9m $25.2m $32.2m $44.8m $61.2m $71.9m $82.7m $96.9m
Amortization of cloud computing implementation costs — — — — — $2.6m $4.0m $3.7m
Amortization of deferred financing costs $266k $266k $373k $211k $245k $266k $2.0m $2.7m
Amortization Cash Flow — — — — $0 $2.6m $4.0m $3.7m
Amortization Of Intangibles — — — — $0 $2.6m $4.0m $3.7m
Depreciation Amortization Depletion — — — — $61.2m $74.5m $86.7m $100.7m
Deferred income taxes $847k ($848k) ($29.6m) ($3.1m) ($1.3m) ($11.6m) $51.1m ($5.4m)
Deferred Income Tax — — — — ($1.3m) ($11.6m) $51.1m ($5.4m)
Deferred Tax — — — — ($1.3m) ($11.6m) $51.1m ($5.4m)
Asset Impairment Charge — — — — $370k $0 $276k $0
Non-cash operating lease costs $80.4m $92.5m $59.5m $3.8m $3.4m $2.6m $2.9m $3.3m
Operating lease liabilities — — — ($4.7m) ($4.0m) ($4.2m) ($4.0m) ($4.3m)
Provision for subscription cancellations and non-renewals $237k $1.2m $259k $466k ($196k) $2.1m $199k $2.7m
Change in fair value of contingent consideration liabilities — — — — — — $14.9m ($16.8m)
Change in settlement value of deferred purchase commitment liability — — — — — — $423k —
Write-off of deferred financing costs — — $1.4m — $370k — $276k —
Stock-based compensation expense $5.1m $9.5m $147.9m $26.2m $19.7m $33.9m $47.4m $57.8m
Other ($179k) $496k ($2.0m) $336k ($583k) $1.2m $3.1m $1.2m
Accounts receivable ($17.0m) ($10.1m) ($6.8m) $3.0m ($25.7m) ($45.2m) ($22.1m) ($12.9m)
Prepaid expenses and other current assets $524k ($809k) ($1.5m) ($5.2m) ($214k) ($6.4m) ($14.2m) ($5.8m)
Deferred commissions ($3.2m) ($2.4m) ($547k) ($812k) ($2.9m) ($5.8m) ($6.2m) ($4.4m)
Accounts payable $3.4m $3.9m ($1.8m) $3.8m $1.4m $9.2m $11.6m $1.2m
Accrued expenses $1.6m $2.5m $4.6m $3.2m $15.1m $5.8m ($12.3m) $8.1m
Accrued and deferred compensation $2.1m $5.3m ($632k) ($3.7m) ($12.0m) $7.5m $9.2m ($5.2m)
Deferred revenue $35.2m $27.2m $17.6m $24.7m $30.8m $18.2m $51.1m $35.7m
Payments for purchase commitment and contingent consideration liabilities in excess of initial fair value — — — — — — ($4.4m) ($200k)
Long-term investment — — — — — — — ($15.0m)
Property and equipment additions ($21.1m) ($20.3m) ($21.0m) ($33.4m) ($58.5m) ($49.3m) ($65.8m) ($96.2m)
Capitalized software additions ($12.3m) ($17.2m) ($11.8m) ($11.7m) ($14.9m) ($19.0m) ($21.3m) ($21.7m)
Net increase (decrease) in customer funds obligations $1.7m $4.3m $1.7m $14.2m ($11.3m) $5.6m $9.7m ($5.6m)
Proceeds from convertible senior notes — — — — — — $345.0m —
Payment for purchase of capped calls — — — — — — ($42.4m) —
Payments for deferred financing costs — — ($2.4m) — ($983k) ($1.0m) ($12.5m) —
Repurchases of shares ($1.3m) ($841k) — — — — — ($10.1m)
Proceeds from purchases of stock under ESPP — — $957k $2.1m $2.0m $2.5m $3.0m $4.2m
Payments for taxes related to net share settlement of stock-based awards — — ($14.8m) ($12.8m) ($1.1m) ($9.7m) ($21.5m) ($28.9m)
Proceeds from exercise of stock options $177k $68k $8.8m $1.9m $1.8m $4.8m $8.5m $7.7m
Payments for purchase commitment and contingent consideration liabilities — — ($8.9m) ($10.8m) ($423k) ($6.4m) ($7.6m) —
Payments for deferred purchase commitments — — — — ($20.0m) ($20.0m) — —
Payments of finance lease liabilities — — — ($964k) ($1.4m) ($103k) ($93k) ($76k)
Beginning Cash Position — — — — $98.2m $106.7m $89.2m $326.1m
Cash Flow From Continuing Financing Activities — — — — $17.1m ($26.5m) $231.3m ($32.8m)
Cash Flow From Continuing Investing Activities — — — — ($72.0m) ($66.2m) ($158.2m) ($123.7m)
Change In Account Payable — — — — $1.4m $9.2m $11.6m $1.2m
Change In Accrued Expense — — — — $3.1m $13.4m ($3.1m) $3.0m
Change In Other Current Liabilities — — — — ($4.0m) ($4.2m) ($4.0m) ($4.3m)
Change In Other Working Capital — — — — $16.2m $13.6m $47.9m $32.5m
Change In Payable — — — — $1.4m $9.2m $11.6m $1.2m
Change In Payables And Accrued Expense — — — — $4.4m $22.6m $8.5m $4.2m
Change In Prepaid Assets — — — — ($2.2m) ($6.4m) ($14.2m) ($5.8m)
Change In Receivables — — — — ($25.7m) ($45.2m) ($22.1m) ($12.9m)
Change In Working Capital — — — — ($11.2m) ($19.7m) $16.2m $13.7m
Changes In Account Receivables — — — — ($25.7m) ($45.2m) ($22.1m) ($12.9m)
Changes In Cash — — — — $8.9m ($18.3m) $237.9m $9.0m
End Cash Position — — — — $106.7m $89.2m $326.1m $338.3m
Financing Cash Flow — — — — $17.1m ($26.5m) $231.3m ($32.8m)
Free Cash Flow — — — — $3.4m $6.1m $77.7m $47.6m
Investing Cash Flow — — — — ($72.0m) ($66.2m) ($158.2m) ($123.7m)
Issuance Of Capital Stock — — — $0 $0 — — —
Net Business Purchase And Sale — — — — ($474k) $0 ($71.8m) $0
Net PPE Purchase And Sale — — — — ($45.5m) ($49.3m) ($65.8m) ($96.2m)
Other Non Cash Items — — — — $7.7m $8.2m $15.7m ($11.1m)
Proceeds From Stock Option Exercised — — — — $3.8m $7.3m $11.5m $11.9m
Provisionand Write Offof Assets — — — — ($196k) $2.1m $199k $2.7m
Purchase Of Business — — — — ($474k) $0 ($71.8m) $0
Purchase Of PPE — — $21.0m $33.4m ($45.5m) ($49.3m) ($65.8m) ($96.2m)
Repurchase Of Capital Stock — — — $0 — $0 $0 ($10.1m)
Stock Based Compensation — — — — $19.7m $33.9m $47.4m $57.8m
Net cash provided by operating activities $80.4m $92.5m $59.5m $92.0m $76.8m $74.3m $164.8m $165.5m
Capital Expenditure Reported — — — — ($14.9m) ($19.0m) ($21.3m) ($21.7m)
Acquisition of businesses and assets, net of cash acquired — — — — ($474k) — ($71.8m) —
Purchase of investment securities, available-for-sale — — — — ($16.5m) ($16.3m) ($16.0m) ($2.4m)
Net Investment Purchase And Sale — — — — ($11.2m) $2.1m $717k ($5.8m)
Purchase Of Investment — — — — ($16.5m) ($16.3m) ($16.0m) ($17.4m)
Proceeds from sales and maturities of investment securities, available-for-sale — — — — $5.4m $18.4m $16.7m $11.6m
Sale Of Investment — — — — $5.4m $18.4m $16.7m $11.6m
Net cash used in investing activities ($33.3m) ($37.6m) ($44.4m) ($296.5m) ($85.0m) ($66.2m) ($158.2m) ($123.7m)
Issuance Of Debt — — — — $50.0m $0 $345.0m $0
Long Term Debt Issuance — — — — $50.0m $0 $345.0m $0
Net Issuance Payments Of Debt — — — — $47.7m ($2.3m) $294.1m ($76k)
Net Long Term Debt Issuance — — — — $47.7m ($2.3m) $294.1m ($76k)
Net Short Term Debt Issuance — — — $0 $0 — — —
Short Term Debt Issuance — — — $0 $0 — — —
Principal payments on long-term debt ($3.3m) ($5.6m) ($226.3m) — ($938k) ($2.2m) ($46.9m) —
Payments on third-party debt — — — — — — ($3.9m) —
Long Term Debt Payments — — — — ($2.3m) ($2.3m) ($50.9m) ($76k)
Repayment Of Debt — — — — ($2.3m) ($2.3m) ($50.9m) ($76k)
Short Term Debt Payments — — — $0 $0 — — —
Common Stock Issuance — — — $0 $0 — — —
Net Common Stock Issuance — — — — $0 $0 $0 ($10.1m)
Common Stock Payments — — — $0 — $0 $0 ($10.1m)
Cash Dividends Paid — — — ($2.7m) ($536k) $0 $0 —
Net Other Financing Charges — — — — ($33.9m) ($31.5m) ($74.3m) ($34.6m)
Net cash provided by (used in) financing activities ($30.7m) ($30.6m) $213.6m ($9.1m) $17.1m ($26.5m) $231.3m ($32.8m)
Effect of exchange rate changes on cash, cash equivalents and restricted cash ($402k) $12k ($22k) ($479k) ($352k) $724k ($1.0m) $3.2m
Effect Of Exchange Rate Changes — — — — ($352k) $724k ($1.0m) $3.2m
Net increase (decrease) in cash, cash equivalents and restricted cash $16.0m $24.3m $228.8m ($214.1m) $8.5m ($17.6m) $236.9m $12.2m
Cash, cash equivalents and restricted cash, beginning of period $59.2m $83.5m $312.3m $98.2m $106.7m $89.2m $326.1m $338.3m
Change In Cash Supplemental As Reported — — — — $8.5m ($17.6m) $236.9m $12.2m
Income Tax Paid Supplemental Data — — — $1.3m $3.1m $5.7m $8.6m —
Interest Paid Supplemental Data — — — $223k $2.2m $3.7m $3.3m —

Data sourced from SEC EDGAR 10-K filings via EdgarTools. Amounts are shown in USD as reported in each fiscal year filing.