Vertex, Inc.

For the period ended Dec 31, 2025. Filed Feb 24, 2026.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2025 · Filed Feb 24, 2026

VERX$17.30+1.3%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Consolidated Balance Sheets


· December 31, · · December 31,
· 2025 · · 2024
Assets
Current assets: · · · ·
Cash and cash equivalents	$314,009	$296,051
Funds held for customers	24,286	30,015
Accounts receivable, net of allowance of $11,466 and $16,838, respectively	183,446	164,432
Prepaid expenses and other current assets	38,966	36,678
Investment securities available-for-sale, at fair value (amortized cost of $0 and $9,147, respectively)	—	9,157
Total current assets	560,707	536,333
Property and equipment, net of accumulated depreciation	209,727	177,559
Capitalized software, net of accumulated amortization	35,480	36,350
Goodwill and other intangible assets	396,006	363,021
Deferred commissions	31,907	27,480
Deferred income tax asset	85	19
Operating lease right-of-use assets	9,678	11,956
Long-term investment	15,000	—
Other assets	12,245	14,073
Total assets	$1,270,835	$1,166,791
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable	$37,557	$36,215
Accrued expenses	43,642	35,169
Customer funds obligations	21,802	27,406
Accrued salaries and benefits	23,992	14,581
Accrued variable compensation	34,593	45,507
Deferred revenue, current	382,839	339,326
Current portion of operating lease liabilities	4,283	3,995
Current portion of finance lease liabilities	55	77
Purchase commitment and contingent consideration liabilities, current	25,900	35,100
Total current liabilities	574,663	537,376
Deferred revenue, net of current portion	5,209	4,840
Debt, net of current portion	337,477	335,220
Operating lease liabilities, net of current portion	8,903	12,585
Finance lease liabilities, net of current portion	54	10
Purchase commitment and contingent consideration liabilities, net of current portion	79,600	87,400
Deferred income tax liabilities	5,664	9,918
Deferred other liabilities	345	90
Total liabilities	1,011,915	987,439
Commitments and contingencies (Note 14)
Stockholders' equity:
Preferred shares, $0.001 par value, 30,000 shares authorized; no shares issued and outstanding	—	—
Class A voting common stock, $0.001 par value, 300,000 shares authorized; 77,580 and 70,670 shares issued and outstanding, respectively	77	71
Class B voting common stock, $0.001 par value, 150,000 shares authorized; 82,156 and 86,481 shares issued and outstanding, respectively	82	86
Treasury stock, at cost, 504 and 0 shares, respectively	(10,094)	—
Additional paid in capital	316,327	278,389
Accumulated deficit	(46,104)	(53,315)
Accumulated other comprehensive loss	(1,368)	(45,879)
Total stockholders' equity	258,920	179,352
Total liabilities and stockholders' equity	$1,270,835	$1,166,791

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.