VERX on Nasdaq
Vertex, Inc.
In its 2026 annual report the company says: “Vertex is a leading provider of enterprise compliance technology for global commerce. Our software, data, and services help businesses operate with confidence by automating and governing transaction-based compliance obligations that arise wherever they buy, sell, and move goods and services around the world.”4 It is headquartered in King Of Prussia, Pennsylvania.1 Its shares trade on Nasdaq under the symbol VERX.1
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Last updated Oct 21, 2026.
Overview
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- TickerVERX on Nasdaq1
- IndustryServices-Prepackaged Software1
- HeadquartersKing Of Prussia, Pennsylvania1
- Incorporated inDE3
- Business address2301 Renaissance Boulevard, King Of Prussia, Pa 194063
- Filer categoryLarge accelerated filer3
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Vertex is a leading provider of enterprise compliance technology for global commerce. Our software, data, and services help businesses operate with confidence by automating and governing transaction-based compliance obligations that arise wherever they buy, sell, and move goods and services around the world.4 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
64.3%Gross margin2
0.3%Operating margin2
1.0%Net margin2
12.2%Revenue growth, 20252
2.8%Return on equity2
1.30×Debt to equity2
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Cloud subscriptions brought in 55% of the revenue Vertex, Inc. broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2023 | 2024 | 2025 |
|---|---|---|---|
| Cloud subscriptions | $214.6M | $276.0M | $352.9M |
| Software Licenses | $266.2M | $291.1M | $286.7M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue36¢$266.8M
- Research and development11¢$83.7M
- Other costs52¢$390.3M
- Income tax0¢$368.0K
- Profit1¢$7.2M
Out of $748.4M in revenue.2
Where each dollar of operating cash went, fiscal 2025
- Share buybacks6¢$10.1M
- Kept or used elsewhere94¢$155.4M
Out of $165.5M of cash from operations.2
Financial statements
Every line of the income statement as filed: the last 3 fiscal years, latest first.2
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Total revenues | $748.4M | $666.8M | $572.4M |
| Total cost of revenues | $266.8M | $240.7M | $223.8M |
| Gross profit | $481.6M | $426.1M | $348.6M |
| Research and development | $83.7M | $66.7M | $58.2M |
| Selling and marketing | $196.5M | $170.6M | $140.2M |
| General and administrative | $178.7M | $152.8M | $145.9M |
| Depreciation and amortization | $24.8M | $21.0M | $15.2M |
| Change in fair value of acquisition contingent earn-outs | -$17.0M | $17.5M | |
| Other operating expense (income), net | $12.6M | -$175.0K | $6.5M |
| Total operating expenses | $479.3M | $428.4M | $366.1M |
| Income (loss) from operations | $2.3M | -$2.2M | -$17.5M |
| Interest expense (income), net | -$5.2M | -$4.1M | $4.2M |
| Income (loss) before income taxes | $7.6M | $1.9M | -$21.7M |
| Income tax expense (benefit) | $368.0K | $54.6M | -$8.6M |
| Net income (loss) | $7.2M | -$52.7M | -$13.1M |
| Foreign currency translation adjustments, net of tax | -$44.5M | $24.1M | -$6.0M |
| Unrealized loss (gain) on investments, net of tax | $9.0K | -$13.0K | -$32.0K |
| Total other comprehensive income (loss), net of tax | -$44.5M | $24.1M | -$6.0M |
| Total comprehensive income (loss) | $51.7M | -$76.9M | -$7.1M |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.2
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $314.0M | $296.1M | $68.2M | |
| Funds held for customers | $24.3M | $30.0M | ||
| Accounts receivable, net of allowance of $11,466 and $16,838, respectively | $183.4M | $164.4M | $141.8M | |
| Prepaid expenses and other current assets | $39.0M | $36.7M | ||
| Investment securities available-for-sale, at fair value (amortized cost of $0 and $9,147, respectively) | $9.2M | |||
| Total current assets | $560.7M | $536.3M | ||
| Property and equipment, net of accumulated depreciation | $209.7M | $177.6M | ||
| Capitalized software, net of accumulated amortization | $35.5M | $36.4M | ||
| Goodwill and other intangible assets | $396.0M | $363.0M | ||
| Deferred commissions | $31.9M | $27.5M | $21.2M | $15.5M |
| Deferred income tax asset | $85.0K | $19.0K | ||
| Operating lease right-of-use assets | $9.7M | $12.0M | ||
| Long-term investment | $15.0M | |||
| Other assets | $12.2M | $14.1M | ||
| Total assets | $1.3B | $1.2B | ||
| Accounts payable | $37.6M | $36.2M | ||
| Accrued expenses | $43.6M | $35.2M | ||
| Customer funds obligations | $21.8M | $27.4M | ||
| Accrued salaries and benefits | $24.0M | $14.6M | ||
| Accrued variable compensation | $34.6M | $45.5M | ||
| Deferred revenue, current | $382.8M | $339.3M | ||
| Current portion of operating lease liabilities | $4.3M | $4.0M | ||
| Current portion of finance lease liabilities | $55.0K | $77.0K | ||
| Purchase commitment and contingent consideration liabilities, current | $25.9M | $35.1M | ||
| Total current liabilities | $574.7M | $537.4M | ||
| Deferred revenue, net of current portion | $5.2M | $4.8M | ||
| Debt, net of current portion | $337.5M | $335.2M | ||
| Operating lease liabilities, net of current portion | $8.9M | $12.6M | ||
| Finance lease liabilities, net of current portion | $54.0K | $10.0K | ||
| Purchase commitment and contingent consideration liabilities, net of current portion | $79.6M | $87.4M | ||
| Deferred income tax liabilities | $5.7M | $9.9M | ||
| Deferred other liabilities | $345.0K | $90.0K | ||
| Total liabilities | $1.0B | $987.4M | ||
| Treasury stock, at cost 504 and 0 shares, respectively | -$10.1M | |||
| Additional paid in capital | $316.3M | $278.4M | ||
| Accumulated deficit | -$46.1M | -$53.3M | ||
| Accumulated other comprehensive loss | -$1.4M | -$45.9M | ||
| Total stockholders' equity | $258.9M | $179.4M | $253.0M | $229.7M |
| Total liabilities and stockholders' equity | $1.3B | $1.2B | ||
| Allowance for accounts receivable | $11.5M | $16.8M | $16.3M | $9.6M |
| Amortized cost | $0 | $9.1M | ||
| Preferred stock par value (per share) | $0.00 | $0.00 | ||
| Preferred stock, shares authorized (in shares) | 30.0M shares | 30.0M shares | ||
| Preferred stock, shares issued (in shares) | 0 shares | 0 shares | ||
| Preferred stock, shares outstanding (in shares) | 0 shares | 0 shares | ||
| Treasury stock, at cost (in shares) | 504.0K shares | 0 shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $314.0M | $296.1M | $68.2M | |
| Funds held for customers | $24.3M | $30.0M | ||
| Accounts receivable, net of allowance of $11,466 and $16,838, respectively | $183.4M | $164.4M | $141.8M | |
| Prepaid expenses and other current assets | $39.0M | $36.7M | ||
| Investment securities available-for-sale, at fair value (amortized cost of $0 and $9,147, respectively) | $9.2M | |||
| Total current assets | $560.7M | $536.3M | ||
| Property and equipment, net of accumulated depreciation | $209.7M | $177.6M | ||
| Capitalized software, net of accumulated amortization | $35.5M | $36.4M | ||
| Goodwill and other intangible assets | $396.0M | $363.0M | ||
| Deferred commissions | $31.9M | $27.5M | $21.2M | $15.5M |
| Deferred income tax asset | $85.0K | $19.0K | ||
| Operating lease right-of-use assets | $9.7M | $12.0M | ||
| Long-term investment | $15.0M | |||
| Other assets | $12.2M | $14.1M | ||
| Total assets | $1.3B | $1.2B | ||
| Accounts payable | $37.6M | $36.2M | ||
| Accrued expenses | $43.6M | $35.2M | ||
| Customer funds obligations | $21.8M | $27.4M | ||
| Accrued salaries and benefits | $24.0M | $14.6M | ||
| Accrued variable compensation | $34.6M | $45.5M | ||
| Deferred revenue, current | $382.8M | $339.3M | ||
| Current portion of operating lease liabilities | $4.3M | $4.0M | ||
| Current portion of finance lease liabilities | $55.0K | $77.0K | ||
| Purchase commitment and contingent consideration liabilities, current | $25.9M | $35.1M | ||
| Total current liabilities | $574.7M | $537.4M | ||
| Deferred revenue, net of current portion | $5.2M | $4.8M | ||
| Debt, net of current portion | $337.5M | $335.2M | ||
| Operating lease liabilities, net of current portion | $8.9M | $12.6M | ||
| Finance lease liabilities, net of current portion | $54.0K | $10.0K | ||
| Purchase commitment and contingent consideration liabilities, net of current portion | $79.6M | $87.4M | ||
| Deferred income tax liabilities | $5.7M | $9.9M | ||
| Deferred other liabilities | $345.0K | $90.0K | ||
| Total liabilities | $1.0B | $987.4M | ||
| Treasury stock, at cost 504 and 0 shares, respectively | -$10.1M | |||
| Additional paid in capital | $316.3M | $278.4M | ||
| Accumulated deficit | -$46.1M | -$53.3M | ||
| Accumulated other comprehensive loss | -$1.4M | -$45.9M | ||
| Total stockholders' equity | $258.9M | $179.4M | $253.0M | $229.7M |
| Total liabilities and stockholders' equity | $1.3B | $1.2B | ||
| Allowance for accounts receivable | $11.5M | $16.8M | $16.3M | $9.6M |
| Amortized cost | $0 | $9.1M | ||
| Preferred stock par value (per share) | $0.00 | $0.00 | ||
| Preferred stock, shares authorized (in shares) | 30.0M shares | 30.0M shares | ||
| Preferred stock, shares issued (in shares) | 0 shares | 0 shares | ||
| Preferred stock, shares outstanding (in shares) | 0 shares | 0 shares | ||
| Treasury stock, at cost (in shares) | 504.0K shares | 0 shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.2
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net income (loss) | $7.2M | -$52.7M | -$13.1M |
| Depreciation and amortization | $96.9M | $82.7M | $71.9M |
| Amortization of cloud computing implementation costs | $3.7M | $4.0M | $2.6M |
| Provision for subscription cancellations and non-renewals | $2.7M | $199.0K | $2.1M |
| Amortization of deferred financing costs | $2.7M | $2.0M | $266.0K |
| Change in fair value of contingent consideration liabilities | -$16.8M | $14.9M | |
| Change in settlement value of deferred purchase commitment liability | $423.0K | ||
| Write-off of deferred financing costs | $276.0K | ||
| Stock-based compensation expense | $57.8M | $47.4M | $33.9M |
| Deferred income taxes | -$5.4M | $51.1M | -$11.6M |
| Non-cash operating lease costs | $3.3M | $2.9M | $2.6M |
| Other | -$54.0K | -$203.0K | $5.3M |
| Accounts receivable | -$12.9M | -$22.1M | -$45.2M |
| Prepaid expenses and other current assets | -$5.8M | -$14.2M | -$6.4M |
| Deferred commissions | -$4.4M | -$6.2M | -$5.8M |
| Accounts payable | $1.2M | $11.6M | $9.2M |
| Accrued expenses | $8.1M | -$12.3M | $5.8M |
| Accrued and deferred compensation | -$5.2M | $9.2M | $7.5M |
| Deferred revenue | $35.7M | $51.1M | $18.2M |
| Operating lease liabilities | -$4.3M | -$4.0M | -$4.2M |
| Payments for purchase commitment and contingent consideration liabilities in excess of initial fair value | -$200.0K | -$4.4M | |
| Other | $1.2M | $3.1M | $1.2M |
| Net cash provided by operating activities | $165.5M | $164.8M | $74.3M |
| Acquisition of businesses and assets, net of cash acquired | -$71.8M | ||
| Long-term investment | -$15.0M | ||
| Property and equipment additions | -$96.2M | -$65.8M | -$49.3M |
| Capitalized software additions | -$21.7M | -$21.3M | -$19.0M |
| Purchase of investment securities, available-for-sale | -$2.4M | -$16.0M | -$16.3M |
| Proceeds from sales and maturities of investment securities, available-for-sale | $11.6M | $16.7M | $18.4M |
| Net cash used in investing activities | -$123.7M | -$158.2M | -$66.2M |
| Net increase (decrease) in customer funds obligations | -$5.6M | $9.7M | $5.6M |
| Proceeds from convertible senior notes | $345.0M | ||
| Principal payments on long-term debt | -$46.9M | -$2.2M | |
| Payments on third-party debt | -$3.9M | ||
| Payment for purchase of capped calls | -$42.4M | ||
| Payments for deferred financing costs | -$12.5M | -$1.0M | |
| Repurchases of shares | -$10.1M | ||
| Proceeds from purchases of stock under ESPP | $4.2M | $3.0M | $2.5M |
| Payments for taxes related to net share settlement of stock-based awards | -$28.9M | -$21.5M | -$9.7M |
| Proceeds from exercise of stock options | $7.7M | $8.5M | $4.8M |
| Payments for purchase commitment and contingent consideration liabilities | -$7.6M | -$6.4M | |
| Payments for deferred purchase commitments | -$20.0M | ||
| Payments of finance lease liabilities | -$76.0K | -$93.0K | -$103.0K |
| Net cash provided by (used in) financing activities | -$32.8M | $231.3M | -$26.5M |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | $3.2M | -$1.0M | $724.0K |
| Net increase (decrease) in cash, cash equivalents and restricted cash | $12.2M | $236.9M | -$17.6M |
No quarter-by-quarter statement was filed.
Corporate structure
Vertex, Inc. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of Vertex, Inc.
- Morgan Stanley Filed SCHEDULE 13G on Vertex, Inc., latest May 12, 2026
- VANGUARD PORTFOLIO MANAGEMENT LLC Filed SCHEDULE 13G on Vertex, Inc., latest Apr 29, 2026
- Tensile Capital Management LP Filed SCHEDULE 13G/A on Vertex, Inc., latest Apr 2, 2026 (6 filings since Aug 5, 2022)
- VANGUARD GROUP INC Filed SCHEDULE 13G/A on Vertex, Inc., latest Mar 27, 2026 (5 filings since Feb 10, 2022)
- BlackRock Filed SCHEDULE 13G/A on Vertex, Inc., latest Jan 21, 2026 (5 filings since Oct 22, 2024)
- Amanda Westphal Radcliffe Filed SCHEDULE 13G/A on Vertex, Inc., latest Aug 13, 2025 (7 filings since Feb 11, 2022)
- Neuberger Berman Filed SCHEDULE 13G/A on Vertex, Inc., latest Mar 6, 2025 (4 filings since Feb 14, 2022)
- ALGER ASSOCIATES INC Filed SC 13G/A on Vertex, Inc., latest Nov 14, 2024 (4 filings since Jan 10, 2022)
- Conestoga Capital Advisors, LLC Filed SC 13G/A on Vertex, Inc., latest Jan 5, 2024 (3 filings since Jan 10, 2022)
- JPMorgan Chase Filed SC 13G/A on Vertex, Inc., latest Dec 7, 2023 (3 filings since Jan 18, 2022)
- David Destefano Filed SC 13G/A on Vertex, Inc., latest Feb 10, 2023 (2 filings since Feb 10, 2022)
- Capital International Investors Filed SC 13G/A on Vertex, Inc., latest Feb 11, 2022
- Vertex, Inc. King Of Prussia, Pennsylvania
Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What Vertex, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Finance-lease assets | $94.0K2 Dec 31, 2025 | $75.0K2 Dec 31, 2024 | +25.3% |
| Operating-lease assets (leased space) | $9.7M2 Dec 31, 2025 | $12.0M2 Dec 31, 2024 | −19.1% |
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Cash and cash equivalents | $314.0M2 Dec 31, 2025 | $296.1M2 Dec 31, 2024 | +6.1% |
| Long-term investments | $15.0M2 Dec 31, 2025 |
Intangibles and goodwill
| Item | Latest | A year before | Change |
|---|---|---|---|
| Goodwill | $392.5M2 Dec 31, 2025 | $357.8M2 Dec 31, 2024 | +9.7% |
| Finite-lived intangibles, gross | $17.0M2 Dec 31, 2025 | $15.8M2 Dec 31, 2024 | +7.6% |
| Accumulated amortization | -$13.5M2 Dec 31, 2025 | -$10.6M2 Dec 31, 2024 | −27.2% |
Properties, in its own words
Our corporate headquarters, which includes our operations and development teams, is located in King of Prussia, Pennsylvania, and consists of approximately 189,500 square feet of space under a lease that expires on September 30, 2028.
We also lease offices in Naperville, Illinois; Frankfurt, Germany; Sao Paulo, Brazil; Chennai, India; Killorglin, Ireland; Cork, Ireland; Dublin, Ireland; and Vienna, Austria.
The rest of Item 2
We believe our facilities are adequate for our current and presently foreseeable needs.
Item 2 of the 10-K filed Feb 24, 2026.4
Leadership
Who has led Vertex, Inc., and when. Pick a name to see everywhere that person has worked.
Chief executive
Chief financial officer
2025
- Chief executive officerChristopher Young Nov 10, 2025 to now14
- Chief executive officerDavid Destefano Jul 29, 2020 to Nov 10, 202515
- PresidentChristopher Young Nov 10, 2025 to now14
- PresidentDavid Destefano Jul 29, 2020 to Nov 10, 202515
- Chief financial officerJohn R. Schwab Jul 29, 2020 to now16
Board members and other officers (14)
- Chief Accounting OfficerRyan J. Leib Mar 20, 2024 to now17
- Chief Accounting OfficerLisa Butler Jul 29, 2020 to Mar 18, 202418
- Board memberMark J. Mendola Jun 11, 2025 to now19
- Board memberChristopher Young Nov 10, 2025 to now14
- Board memberPhilip Seth Saunders Jun 15, 2022 to now20
- Board memberBradley M. Gayton May 21, 2021 to now21
- Board memberAmanda Westphal Radcliffe Jul 29, 2020 to now22
- Board memberDavid Destefano Jul 29, 2020 to now15
- Board memberJeffery Westphal Jul 29, 2020 to Feb 11, 202123
- Board memberJohn Richard Stamm Jul 29, 2020 to now24
- Board memberKevin L. Robert Jul 29, 2020 to Dec 19, 202325
- Board memberStefanie Westphal Thompson Jul 29, 2020 to now26
- Board memberTerrence Kyle Jul 29, 2020 to Nov 12, 202127
- General counselBryan T.r. Rowland Jul 29, 2020 to now28
Timeline
- Oct 1, 20268-K Executive or director change29
- Aug 3, 20268-K Results of operations30
- Jun 11, 20268-K Shareholder vote31
- May 7, 20268-K Results of operations32
- Apr 28, 20268-K Exit or restructuring costs33
- Feb 11, 20268-K Results of operations34
- Nov 20, 20258-K Entered a material agreement35
- Nov 10, 2025New chief executive Christopher Young becomes CEO14
- Nov 3, 20258-K Results of operations; Other events36
- Oct 21, 20258-K Results of operations; Executive or director change37
- Aug 6, 20258-K Results of operations38
- Jun 17, 20258-K Shareholder vote39
- May 7, 20258-K Results of operations40
- Jul 29, 2020New chief executive David Destefano becomes CEO15
Calendar
Coming up
- Nov 4, 2026 · After the closeReports results for the quarter ending Sep/2026 A year earlier it reported $0.11 a share, on Nov 3, 2025.41
When it reported results
- Aug 3, 2026Reported quarterly or annual results30
- May 7, 2026Reported quarterly or annual results32
- Feb 11, 2026Reported quarterly or annual results34
- Nov 3, 2025Reported quarterly or annual results36
- Oct 21, 2025Reported quarterly or annual results37
- Aug 6, 2025Reported quarterly or annual results38
- May 7, 2025Reported quarterly or annual results40
- Feb 27, 2025Reported quarterly or annual results42
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
484 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 40 major events, 282 insider forms, 44 large holders, 98 other. The latest 20:
- Oct 9, 20264 EDGAR
- Oct 8, 20263 EDGAR
- Oct 1, 20268-K EDGAR
- Aug 4, 202610-Q EDGAR
- Aug 3, 20268-K EDGAR
- Jun 12, 20264 EDGAR
- Jun 12, 20264 EDGAR
- Jun 12, 20264 EDGAR
- Jun 12, 20264 EDGAR
- Jun 12, 20264 EDGAR
- Jun 12, 20264 EDGAR
- Jun 12, 20264 EDGAR
- Jun 12, 20264 EDGAR
- Jun 11, 20268-K EDGAR
- Jun 1, 20264 EDGAR
- May 28, 2026144 EDGAR
- May 12, 2026SCHEDULE 13G EDGAR
- May 7, 202610-Q EDGAR
- May 7, 20268-K EDGAR
- Apr 29, 2026SCHEDULE 13G EDGAR
The 484 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
263 open-market trades by officers, directors and large owners since October 2021: 7 buys and 256 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| May 28, 2026 | DeStefano DavidDirector | Sale | 6,460 | $12.75 | $82.4K | Form 4 |
| Mar 9, 2026 | ITEM SECOND IRR. TRUST FBO KYLE R. WESTPHAL u/a of JEFFREY R. WESTPHAL dated October 5, 200110% owner | Buy | 10,000 | $15.05 | $150.5K | Form 4 |
| Feb 23, 2026 | Young Christopher DavidPresident and CEO | Buy | 60,000 | $12.18 | $730.8K | Form 4 |
| Feb 20, 2026 | ANDERSEN ERIC C.Director | Buy | 40,000 | $12.91 | $516.4K | Form 4 |
| Feb 17, 2026 | Westphal Jeffrey | Buy | 150,000 | $12.53 | $1.9M | Form 4 |
| Feb 13, 2026 | Westphal Jeffrey | Buy | 247,740 | $13.08 | $3.2M | Form 4 |
| Jun 24, 2025 | ITEM SECOND IRR. TRUST FBO ANNE MARIE WESTPHAL u/a of JEFFREY R. WESTPHAL dated October 5, 200110% owner | Sale | 14,425 | $35.24 | $508.3K | Form 4 |
| Jun 23, 2025 | ITEM SECOND IRR. TRUST FBO ANNE MARIE WESTPHAL u/a of JEFFREY R. WESTPHAL dated October 5, 200110% owner | Sale | 510 | $35.00 | $17.9K | Form 4 |
| Jun 20, 2025 | ITEM SECOND IRR. TRUST FBO ANNE MARIE WESTPHAL u/a of JEFFREY R. WESTPHAL dated October 5, 200110% owner | Sale | 8,832 | $35.12 | $310.2K | Form 4 |
| Jun 18, 2025 | ITEM SECOND IRR. TRUST FBO ANNE MARIE WESTPHAL u/a of JEFFREY R. WESTPHAL dated October 5, 200110% owner | Sale | 157,874 | $35.93 | $5.7M | Form 4 |
| Jun 17, 2025 | ITEM SECOND IRR. TRUST FBO ANNE MARIE WESTPHAL u/a of JEFFREY R. WESTPHAL dated October 5, 200110% owner | Sale | 145,111 | $37.16 | $5.4M | Form 4 |
| Jun 16, 2025 | ITEM SECOND IRR. TRUST FBO ANNE MARIE WESTPHAL u/a of JEFFREY R. WESTPHAL dated October 5, 200110% owner | Sale | 78,248 | $36.87 | $2.9M | Form 4 |
| Jun 9, 2025 | Westphal Jeffrey | Sale | 3,000,000 | $38.45 | $115.3M | Form 4 |
| May 13, 2025 | Leib Ryan JChief Accounting Officer | Sale | 5,755 | $38.00 | $218.7K | Form 4 |
| May 13, 2025 | DeStefano DavidDirector | Sale | 109,415 | $37.69 | $4.1M | Form 4 |
| May 12, 2025 | DeStefano DavidDirector | Sale | 363,116 | $37.33 | $13.6M | Form 4 |
| Mar 19, 2025 | Rowland Bryan T.R.GENERAL COUNSEL | Sale | 43,228 | $35.98 | $1.6M | Form 4 |
| Mar 4, 2025 | Gayton Bradley MDirector | Buy | 9,400 | $31.85 | $299.4K | Form 4 |
| Jan 23, 2025 | ITEM SECOND IRR. TRUST FBO KYLE R. WESTPHAL u/a of JEFFREY R. WESTPHAL dated October 5, 200110% owner | Sale | 18,157 | $56.52 | $1.0M | Form 4 |
| Jan 22, 2025 | ITEM SECOND IRR. TRUST FBO KYLE R. WESTPHAL u/a of JEFFREY R. WESTPHAL dated October 5, 200110% owner | Sale | 53,843 | $56.48 | $3.0M | Form 4 |
All 263 trades can be filtered by person here when JavaScript is on.
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- Morgan StanleySCHEDULE 13G, 1 filing May 12, 202643
- VANGUARD PORTFOLIO MANAGEMENT LLCSCHEDULE 13G, 1 filing Apr 29, 202644
- Tensile Capital Management LPSCHEDULE 13G/A, 6 filings Aug 5, 2022 to Apr 2, 202645
- VANGUARD GROUP INCSCHEDULE 13G/A, 5 filings Feb 10, 2022 to Mar 27, 202646
- BlackRockSCHEDULE 13G/A, 5 filings Oct 22, 2024 to Jan 21, 202647
- Amanda Westphal RadcliffeSCHEDULE 13G/A, 7 filings Feb 11, 2022 to Aug 13, 202548
- Neuberger BermanSCHEDULE 13G/A, 4 filings Feb 14, 2022 to Mar 6, 202549
- ALGER ASSOCIATES INCSC 13G/A, 4 filings Jan 10, 2022 to Nov 14, 202450
- Conestoga Capital Advisors, LLCSC 13G/A, 3 filings Jan 10, 2022 to Jan 5, 202451
- JPMorgan ChaseSC 13G/A, 3 filings Jan 18, 2022 to Dec 7, 202352
- David DestefanoSC 13G/A, 2 filings Feb 10, 2022 to Feb 10, 202353
- Capital International InvestorsSC 13G/A, 1 filing Feb 11, 202254
- MASSACHUSETTS FINANCIAL SERVICES CO /MA/SC 13G/A, 1 filing Feb 2, 202255
- Wells FargoSC 13G/A, 1 filing Jan 27, 202256
Executive pay
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
| Year | Executive | Age | Salary | Total pay |
|---|---|---|---|---|
| 2025 | Christopher YoungPresident and Chief Executive Officer | 54 | $97.8K | $25.6M57 |
| 2025 | David DeStefanoPresident and Chief Executive Officer | 63 | $534.2K | $10.3M57 |
| 2025 | John SchwabChief Financial Officer | 58 | $481.0K | $3.7M57 |
| 2025 | Bryan RowlandSenior Vice President, General Counsel and Secretary | 46 | $360.5K | $1.1M57 |
| 2024 | David DeStefanoPresident and Chief Executive Officer | 63 | $609.6K | $8.4M57 |
| 2024 | John SchwabChief Financial Officer | 58 | $480.7K | $3.3M57 |
| 2024 | Bryan RowlandSenior Vice President, General Counsel and Secretary | 46 | $342.4K | $981.7K57 |
| 2023 | David DeStefanoPresident and Chief Executive Officer | 63 | $589.7K | $7.5M57 |
| 2023 | John SchwabChief Financial Officer | 58 | $466.7K | $2.7M57 |
| 2023 | Bryan RowlandSenior Vice President, General Counsel and Secretary | 46 | $316.8K | $904.0K57 |
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| BlackRock, Inc. | 6,236,152 | $71.6M | 0.0% | +576,778 |
| Vanguard Portfolio Management LLC | 4,984,133 | $57.2M | 0.0% | +203,452 |
| Morgan Stanley | 4,132,404 | $47.4M | 0.0% | −160,843 |
| Brown Advisory Inc | 3,549,052 | $40.7M | 0.1% | +1,740,108 |
| Vanguard Capital Management LLC | 3,173,883 | $36.4M | 0.0% | +58,426 |
| Tensile Capital Management LP | 2,898,563 | $33.3M | 4.6% | −500,000 |
| Jpmorgan Chase & Co | 2,528,044 | $28.8M | 0.0% | −843,126 |
| D. E. Shaw & Co., Inc. | 2,189,827 | $25.1M | 0.0% | +550,905 |
| William Blair Investment Management, LLC | 2,128,372 | $24.4M | 0.1% | +849,202 |
| State Street Corp | 2,060,692 | $23.6M | 0.0% | +149,939 |
| UBS Group AG | 2,024,166 | $23.2M | 0.0% | −3,439,868 |
| Geode Capital Management, LLC | 1,836,548 | $21.1M | 0.0% | +64,856 |
| Nomura Holdings Inc | 1,664,099 | $19.1M | 0.1% | −957,542 |
| Divisar Capital Management LLC | 1,640,895 | $18.8M | 4.3% | +445,183 |
| Healthcare Of Ontario Pension Plan Trust Fund | 1,487,000 | $17.1M | 0.0% | −1,691,800 |
| Goldman Sachs Group Inc | 1,483,311 | $17.0M | 0.0% | −880,661 |
| Arrowstreet Capital, Limited Partnership | 1,472,893 | $16.9M | 0.0% | +537,225 |
| Legacy Advisors, LLC | 1,343,838 | $15.4M | 1.4% | +59 |
| Norges Bank | 1,310,400 | $15.0M | 0.0% | New |
| Marshall Wace, Llp | 1,214,224 | $13.9M | 0.0% | +925,588 |
| Geneva Capital Management LLC | 1,186,812 | $13.6M | 0.3% | −947,879 |
| CIBC Bancorp USA Inc. | 1,054,021 | $12.1M | 0.0% | +488 |
| Freshford Capital Management, LLC | 1,047,293 | $12.0M | 4.1% | +481,746 |
| Bank Of America Corp /de/ | 986,325 | $11.3M | 0.0% | +53,807 |
| Citigroup Inc | 972,967 | $11.2M | 0.0% | −177,445 |
13F reports cover disclosed long positions in U.S. stocks only.
SEC filer profile
How Vertex, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARVertex, Inc.1
- CIK0001806837
- Employer ID (EIN)23-20817534
- Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company4
- Incorporated inDelaware4
- Fiscal year endsDecember 311
- Industry code (SIC)7372 Services-Prepackaged Software1
- SEC reviewing officeOffice of Technology, Division of Corporation Finance1
- Business address2301 Renaissance Boulevard, King Of Prussia, PA 194061
- Phone(800) 355-35001
- Shares outstanding77,801,253 Common Class A shares; 82,155,641 Common Class B shares as of Feb 19, 20264
- Public float$2.6B as of Jun 30, 20254
- AuditorCrowe LLP, Oakbrook Terrace, Illinois PCAOB ID 173; it also attests to the company’s internal control over financial reporting4
- On EDGAR sinceMar 30, 20201
- Filings578 in all: 4 (290), 144 (73), 8-K (47), SC 13G/A (34), 3 (30), 10-Q (19), SC 13G (15), SCHEDULE 13G/A (9)1
All 31 form types
10-K (6), DEF 14A (6), DEFA14A (6), CORRESP (5), UPLOAD (5), ARS (4), 144/A (3), 4/A (3), S-1/A (3), 424B7 (2), DRS/A (2), DRSLTR (2), EFFECT (2), S-8 (2), SCHEDULE 13G (2), 424B4 (1), 5 (1), 8-A12B (1), CERT (1), DEFR14A (1), DRS (1), S-1 (1), S-3 (1)
- Latest filingsAnnual report (10-K) Feb 24, 2026
Quarterly report (10-Q) Aug 4, 2026
Proxy statement (DEF 14A) Apr 27, 2026
Latest 8-K (8-K) Oct 1, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Class A Common Stock, Par Value $0.001 Per Share | VERX | NASDAQ |
From the cover page of the 10-K filed Feb 24, 2026 (Section 12(b) of the Exchange Act).4
Risk factors and legal proceedings
The risks Vertex, Inc. names in Item 1A of its 10-K filed Feb 24, 2026: 42 risks under these headings, as written.4
- Risks Related to Our Business and Industry
- Risks Related to Technology and Intellectual Property
- Risks Related to Our Customers
- Risks Related to Our Tax, Legal, and Regulatory Environment
- Risks Related to Ownership of Our Class A Common Stock
- Risks Related to Our Indebtedness
- A large portion of our revenue depends on maintaining and growing our revenue from existing customers and adding new customers, and if we fail to add new customers, retain our customers, or expand their usage of our solutions, our business, results of operations, financial condition, and cash flows would be harmed.
- Our business and success depend in part on our strategic relationships with third parties, including our partner ecosystem, and our business would be harmed if we fail to maintain or expand these relationships.
- We face competitive pressures from other tax software and services providers, as well as the challenge of convincing businesses using native ERP functions to switch to our software.
- Our recent success may not be indicative of our future results of operations.
- Changes to customers’ and partners’ software systems may impact our ability to offer a specific software deployment method to existing customers, which could cause a termination of customer contracts utilizing that deployment method, or otherwise affect our results of operations, financial condition, and cash flows.
- We need to continue making significant investments in software development and equipment to improve our business.
The other 36 risks
- If we fail to effectively manage our growth, our business, results of operations, financial condition, and cash flows will be harmed.
- Future acquisitions of, and investments in, other businesses, software, tax content or technologies may not yield expected benefits, and our inability to successfully integrate acquisitions may negatively impact our business, results of operations, financial condition and cash flows.
- Our quarterly and annual results of operations may fluctuate in future periods.
- Operating globally involves challenges that may adversely affect our ability to grow.
- If we are unable to successfully adapt to organizational changes and effectively implement strategic initiatives, our reputation and results of operations could be impacted.
- If economic conditions worsen, it may negatively affect our business and financial performance.
- Natural disasters, epidemic or pandemic outbreaks, terrorist acts and political events could disrupt business and result in lower sales and otherwise have a material adverse effect on our business, financial performance and results of operations.
- Our ability to obtain additional capital on commercially reasonable terms may be limited.
- If we fail to attract and retain qualified technical and tax-content personnel, our business could be harmed.
- If we fail to maintain an effective system of disclosure controls and internal control over financial reporting, or fail to remediate any material weaknesses in our internal controls over financial reporting, our ability to produce timely and accurate financial statements or comply with applicable regulations could be impaired.
- If we are unable to adapt to technological change by successfully introducing new and enhanced solutions and services, our business, results of operations, financial condition, and cash flows would be adversely affected.
- Any failures in information technology or infrastructure could lead to disruptions of our software, loss of customer data or untimely remittance of taxes, any of which could adversely affect our reputation and financial condition.
- If we fail to effectively protect, maintain and enhance our brand, our business may suffer.
- We may face challenges in using and properly managing use of Artificial Intelligence (“AI”) in our business, which could result in reputational or competitive harm, and legal liability, and could adversely and materially affect the results of our business, operations, financial condition, and cash flows.
- Expansion into e-invoicing services increases our dependency on government infrastructure and exposes us to operational disruptions.
- We are exposed to cybersecurity and data privacy risks that, if realized, could materially impact our reputation and business.
- Undetected errors, bugs or defects in our software could harm our reputation or decrease market acceptance of our software, which would harm our business and results of operations.
- Our software utilizes open-source software, and any defects or security vulnerabilities in the open-source software could negatively affect our business.
- We rely on third-party data centers, systems and technologies to operate our business, and interruptions or performance problems with these third-party providers may adversely affect our business and results of operations.
- Our ability to protect our intellectual property is limited, and we may be subject to claims of infringement by third parties.
- Incorrect or improper implementation, integration, or use of our solutions could result in customer dissatisfaction and negatively affect our business, results of operations, financial condition, and cash flows.
- We hold significant amounts of money that we remit to taxing authorities on behalf of our customers, and this may expose us to liability from errors, delays, fraud or system failures, which may not be covered by insurance.
- Errors in our customers' transaction tax determinations and reporting functions, or delays in the remittance of their tax payments, could harm our reputation, results of operations and growth prospects.
- Changes in tax laws and regulations, or their interpretation or enforcement, may cause us to invest substantial amounts to modify our software, cause us to change our business model or draw new competitors to the market.
- We may become involved in material legal proceedings and audits, the outcomes which could adversely affect our business, results of operations, financial condition and cash flows.
- Changes in the application, scope, interpretation or enforcement of laws and regulations pertaining to our operations may harm our business or results of operations, subject us to liabilities and require us to implement new compliance programs or business methods.
- We are subject to anti-corruption, anti-bribery and similar laws and noncompliance with such laws can subject us to criminal penalties or significant fines and harm our business and reputation.
- The price of our Class A common stock may fluctuate significantly, and you could lose all or part of your investment.
- Our share repurchase program may increase the volatility of the market price of our stock and adversely affect our liquidity. Further, we may not realize the anticipated long-term stockholder value of our share repurchase program.
- If securities or industry analysts do not publish research or reports about our business, or publish negative reports about our business, or if they adversely change their recommendations regarding our Class A common stock, the market price of our Class A common stock and trading volume could decline.
- We are a “controlled company” within the meaning of the NASDAQ Rules and, as a result, expect to qualify for, and intend to rely on, exemptions from certain corporate governance requirements. You will not have the same protections afforded to stockholders of companies that are subject to such requirements.
- Our indebtedness and liabilities could limit the cash flow available for our operations, expose us to risks that could adversely affect our business, financial condition and results of operations and impair our ability to satisfy our obligations under our indebtedness.
- Despite current indebtedness levels, we may incur substantially more debt or take other actions which would further intensify the risks associated with our indebtedness.
- We may be unable to raise the funds necessary to repurchase the Notes for cash following a “fundamental change,” or to pay any cash amounts due upon conversion, and applicable law, regulatory authorities and our other indebtedness may limit our ability to repurchase the Notes or pay cash upon their conversion.
- Provisions in the Indenture could delay or prevent an otherwise beneficial takeover of us.
- The Capped Call Transactions may affect the value of our Class A common stock.
Legal proceedings
On January 25, 2022, we filed a complaint (subsequently amended on February 9, 2022) against Avalara, Inc. (“Avalara”) in the United States District Court for the Eastern District of Pennsylvania. The complaint alleges claims of unfair competition, intentional interference with contractual relations, and trade secret misappropriation against Avalara. We are seeking a permanent injunction to prevent Avalara from further interference with our contractual relations and to prohibit the disclosure in any way of our confidential, proprietary and/or trade secret information. We are also seeking monetary damages, including punitive damages and attorney’s fees. As of December 31, 2025, the matter remains before the Court and is proceeding through the discovery process. We believe the allegations in the complaint, once proven, are sufficient to prevail in this matter. However, the eventual outcome of the case is subject to a number of uncertainties, and therefore we cannot offer any assurance as to the ultimate impact of this case on our business and operations.
In addition to the foregoing matter, from time to time, we may be involved in various legal proceedings arising from the normal course of business activities. We are not presently a party to any litigation the outcome of which we believe, if determined adversely to us, would individually or taken together have a material adverse effect on our business, operating results, cash flows or financial condition.
The opening of Item 3, Legal Proceedings.4
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1SEC EDGARVertex, Inc. filings on SEC EDGAR
- 2SEC EDGARVertex, Inc. 10-K for fiscal 2025
- 3SEC EDGARVertex, Inc. filings on SEC EDGAR
- 4
- 5SEC EDGARVertex, Inc. 10-K for fiscal 2018
- 6SEC EDGARVertex, Inc. 10-K for fiscal 2019
- 7SEC EDGARVertex, Inc. 10-K for fiscal 2020
- 8SEC EDGARVertex, Inc. 10-K for fiscal 2021
- 9SEC EDGARVertex, Inc. 10-K for fiscal 2022
- 10SEC EDGARVertex, Inc. 10-Q for fiscal 2025
- 11SEC EDGARVertex, Inc. 10-Q for fiscal 2025
- 12SEC EDGARVertex, Inc. 10-Q for fiscal 2026
- 13SEC EDGARVertex, Inc. 10-Q for fiscal 2025
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- 15
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- 18
- 19SEC EDGARMark J. Mendola, Board member
- 20SEC EDGARPhilip Seth Saunders, Board member
- 21SEC EDGARBradley M. Gayton, Board member
- 22
- 23SEC EDGARJeffery Westphal, Board member
- 24SEC EDGARJohn Richard Stamm, Board member
- 25SEC EDGARKevin L. Robert, Board member
- 26
- 27SEC EDGARTerrence Kyle, Board member
- 28SEC EDGARBryan T.r. Rowland, General counsel
- 29SEC EDGARExecutive or director change
- 30SEC EDGARResults of operations
- 31SEC EDGARShareholder vote
- 32SEC EDGARResults of operations
- 33SEC EDGARExit or restructuring costs
- 34SEC EDGARResults of operations
- 35SEC EDGAREntered a material agreement
- 36SEC EDGARResults of operations; Other events
- 37
- 38SEC EDGARResults of operations
- 39SEC EDGARShareholder vote
- 40SEC EDGARResults of operations
- 41NasdaqNasdaq calendar
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- 43
- 44
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- 48
- 49
- 50
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- 52
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- 56SEC EDGARWells Fargo SC 13G/A on Vertex, Inc.
- 57