Vertex, Inc.

Annual Trend FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
Revenues:
Total cost of revenues $95.7m $110.4m $165.4m $161.9m $193.1m $223.8m $240.7m $266.8m
Gross profit $176.7m $211.1m $209.3m $263.7m $298.5m $348.6m $426.1m $481.6m
Research and development $23.8m $30.6m $54.3m $44.0m $41.9m $58.2m $66.7m $83.7m
Total operating expenses $179.5m $179.3m $314.0m $266.6m $306.6m $366.1m $428.4m $479.3m
Selling and marketing $56.9m $68.1m $99.4m $99.0m $125.3m $140.2m $170.6m $196.5m
General and administrative $58.9m $71.0m $149.1m $107.0m $121.7m $145.9m $152.8m $178.7m
Depreciation and amortization $7.9m $9.0m $11.0m $11.7m $12.4m $15.2m $21.0m $24.8m
Change in fair value of acquisition contingent earn-outs $17.5m ($17.0m)
Income (loss) from operations ($2.8m) $31.9m ($104.8m) ($2.9m) ($8.1m) ($17.5m) ($2.2m) $2.3m
Income (loss) before income taxes ($4.4m) $30.9m ($107.9m) ($3.9m) ($10.1m) ($21.7m) $1.9m $7.6m
Foreign currency translation adjustments, net of tax $355k ($5k) $2.6m $14.4m $10.2m ($6.0m) $24.1m ($44.5m)
Unrealized loss (gain) on investments, net of tax $36k ($32k) ($13k) $9k
Total other comprehensive income (loss), net of tax $2.6m $14.4m $10.3m ($6.0m) $24.1m ($44.5m)
Total comprehensive income (loss) ($6.5m) $31.1m ($81.6m) ($15.8m) ($22.6m) ($7.1m) ($76.9m) $51.7m
Net income (loss) ($6.1m) $31.1m ($78.9m) ($1.5m) ($12.3m) ($13.1m) ($52.7m) $7.2m
Net income (loss) per share, basic (in dollars per share) ($0) $0 ($1) ($0) ($0) ($0) ($1) $0
Net income (loss) per share, diluted (in dollars per share) ($0) $0 ($1) ($0) ($0) ($0) ($1) $0
Other operating expense (income), net ($691k) $573k $203k $4.9m $5.3m $6.5m ($175k) $12.6m
Interest expense (income), net $984k $2.0m $4.2m ($4.1m) ($5.2m)
Income tax expense (benefit) $1.7m ($155k) ($28.9m) ($2.4m) $2.2m ($8.6m) $54.6m $368k