← Vertex, Inc.
| Annual Trend | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|
| ASSETS | ||||||||
| Current assets: | ||||||||
| Cash and Cash Equivalents, at Carrying Value | $75.9m | $303.1m | $73.3m | $91.8m | $68.2m | $296.1m | $314.0m | |
| Prepaid Expense and Other Assets, Current | $11.7m | $13.3m | $20.5m | $20.4m | $26.2m | $36.7m | $39.0m | |
| Cash and cash equivalents | $75.9m | $303.1m | $73.3m | $91.8m | $68.2m | $296.1m | $314.0m | |
| Accounts receivable, net of allowance of $11,466 and $16,838, respectively | $70.4m | $77.2m | $76.9m | $102.9m | $141.8m | $164.4m | $183.4m | |
| Prepaid expenses and other current assets | $11.7m | $13.3m | $20.5m | $20.4m | $26.2m | $36.7m | $39.0m | |
| Assets, Current | $165.6m | $402.7m | $195.7m | $241.2m | $266.6m | $536.3m | $560.7m | |
| Total current assets | $165.6m | $402.7m | $195.7m | $241.2m | $266.6m | $536.3m | $560.7m | |
| Capitalized software, net of accumulated amortization | $32.1m | $32.0m | $33.4m | $39.0m | $38.8m | $36.4m | $35.5m | |
| Property, Plant and Equipment, Net | $54.7m | $56.6m | $98.4m | $115.8m | $100.7m | $177.6m | $209.7m | |
| Goodwill | $0 | $16.3m | $270.0m | $251.8m | $257.8m | $357.8m | $392.5m | |
| Goodwill and other intangible assets | — | $18.7m | $272.7m | $257.0m | $260.2m | $363.0m | $396.0m | |
| Operating Lease, Right-of-Use Asset | — | — | $20.2m | $17.2m | $14.6m | $12.0m | $9.7m | |
| Other Assets, Noncurrent | $849k | $3.3m | $1.9m | $2.6m | $16.0m | $14.1m | $12.2m | |
| Operating lease right-of-use assets | — | — | $20.2m | $17.2m | $14.6m | $12.0m | $9.7m | |
| Other assets | $849k | $3.3m | $1.9m | $2.6m | $16.0m | $14.1m | $12.2m | |
| Additional Financial Items | ||||||||
| Accounts Receivable, after Allowance for Credit Loss, Current | $70.4m | $77.2m | $76.9m | $102.9m | $141.8m | $164.4m | $183.4m | |
| Accrued Liabilities, Current | $13.3m | $19.2m | $23.0m | $38.2m | $44.7m | $35.2m | $43.6m | |
| Funds held for customers | $7.6m | $9.2m | $24.9m | $14.9m | $21.0m | $30.0m | $24.3m | |
| Investment securities available-for-sale, at fair value (amortized cost of $0 and $9,147, respectively) | — | — | — | $11.2m | $9.5m | $9.2m | $15.0m | |
| Deferred commissions | $11.2m | $11.7m | $12.6m | $15.5m | $21.2m | $27.5m | $31.9m | |
| Deferred income tax asset | $219k | $30.0m | $35.3m | $30.9m | $41.7m | $19k | $85k | |
| Customer funds obligations | $7.6m | $9.2m | $23.5m | $12.1m | $17.7m | $27.4m | $21.8m | |
| Current portion of operating lease liabilities | — | — | $3.9m | $4.1m | $3.7m | $4.0m | $4.3m | |
| Current portion of finance lease liabilities | — | — | $284k | $103k | $74k | $77k | $55k | |
| Purchase commitment and contingent consideration liabilities, current | — | $845k | $468k | $6.1m | $11.9m | $35.1m | $25.9m | |
| Operating lease liabilities, net of current portion | — | — | $24.3m | $20.4m | $16.6m | $12.6m | $8.9m | |
| Finance lease liabilities, net of current portion | — | — | $68k | $10k | $51k | $10k | $54k | |
| Purchase commitment and contingent consideration liabilities, net of current portion | — | $8.9m | $10.8m | $8.4m | $2.6m | $87.4m | $79.6m | |
| Deferred other liabilities | $9.3m | $8.6m | $2.7m | $417k | $313k | $90k | $345k | |
| Assets | $264.6m | $554.9m | $670.2m | $719.2m | $759.9m | $1.2b | $1.3b | |
| Total assets | $264.6m | $554.9m | $670.2m | $719.2m | $759.9m | $1.2b | $1.3b | |
| LIABILITIES AND EQUITY | ||||||||
| Total liabilities and stockholders' equity | $264.6m | $554.9m | $670.2m | $719.2m | $759.9m | $1.2b | $1.3b | |
| Current liabilities: | ||||||||
| Operating Lease, Liability, Current | — | — | $3.9m | $4.1m | $3.7m | $4.0m | $4.3m | |
| Accounts Payable, Current | $10.7m | $8.9m | $13.0m | $14.3m | $23.6m | $36.2m | $37.6m | |
| Operating Lease, Liability, Noncurrent | — | — | $24.3m | $20.4m | $16.6m | $12.6m | $8.9m | |
| Long-term Debt, Excluding Current Maturities | $682k | $225k | — | $46.7m | $44.1m | $335.2m | $337.5m | |
| Dividends Payable | $13 | — | — | — | — | — | — | |
| Long-term Debt, Current Maturities | $50.8m | $882k | — | $2.2m | $2.5m | — | — | |
| Accrued salaries and benefits | $15.2m | $17.3m | $16.7m | $10.8m | $12.3m | $14.6m | $24.0m | |
| Accrued variable compensation | $22.2m | $22.4m | $26.5m | $23.7m | $34.1m | $45.5m | $34.6m | |
| Deferred revenue, current | $191.7m | $207.6m | $237.3m | $268.8m | $290.1m | $339.3m | $382.8m | |
| Debt, net of current portion | $682k | $225k | — | $46.7m | $44.1m | $335.2m | $337.5m | |
| Liabilities, Current | $334.5m | $292.0m | $369.1m | $403.2m | $440.8m | $537.4m | $574.7m | |
| Total current liabilities | $334.5m | $292.0m | $369.1m | $403.2m | $440.8m | $537.4m | $574.7m | |
| Deferred Income Tax Liabilities, Net | — | — | — | — | — | $9.9m | $5.7m | |
| Deferred income tax liabilities | — | — | — | — | — | $9.9m | $5.7m | |
| Deferred Tax Liabilities, Net | — | — | — | — | — | $9.9m | $5.6m | |
| Liabilities | $377.1m | $329.4m | $440.1m | $489.5m | $506.9m | $987.4m | $1.0b | |
| Total liabilities | $377.1m | $329.4m | $440.1m | $489.5m | $506.9m | $987.4m | $1.0b | |
| Stockholders’ equity: | ||||||||
| Additional Paid in Capital | — | $206.5m | $222.6m | $244.8m | $275.2m | $278.4m | $316.3m | |
| Retained Earnings (Accumulated Deficit) | ($90.7m) | $21.9m | $24.8m | $12.5m | ($586k) | ($53.3m) | ($46.1m) | |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | ($491k) | ($3.1m) | ($17.5m) | ($27.8m) | ($21.7m) | ($45.9m) | ($1.4m) | |
| Accumulated deficit | ($90.7m) | $21.9m | $24.8m | $12.5m | ($586k) | ($53.3m) | ($46.1m) | |
| Accumulated other comprehensive loss | ($491k) | ($3.1m) | ($17.5m) | ($27.8m) | ($21.7m) | ($45.9m) | ($1.4m) | |
| Stockholders' Equity Attributable to Parent | ($129.8m) | $225.5m | $230.1m | $229.7m | $253.0m | $179.4m | $258.9m | |
| Total stockholders' equity | ($129.8m) | $225.5m | $230.1m | $229.7m | $253.0m | $179.4m | $258.9m | |
| Liabilities and Equity | $264.6m | $554.9m | $670.2m | $719.2m | $759.9m | $1.2b | $1.3b |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.