Vertex, Inc.
For the period ended Dec 31, 2025. Filed Feb 24, 2026.
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FY2025 · Filed Feb 24, 2026
VERX$17.84+3.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Comprehensive Income (Loss)
| | | | | | | | | |
|---|---|---|---|---|---|---|---|---|
| | For the year ended December 31, | |||||||
| · 2025 · · 2024 · · 2023 | ||||||||
| Revenues: | | | | | | | | |
| Software subscriptions | $639,654 | | $567,124 | | $480,830 | |||
| Services | 108,790 | | 99,652 | | 91,557 | |||
| Total revenues | 748,444 | | 666,776 | | 572,387 | |||
| Cost of revenues: | | | | | | |||
| Software subscriptions | 187,816 | | 175,580 | | 162,920 | |||
| Services | 79,027 | | 65,071 | | 60,888 | |||
| Total cost of revenues | 266,843 | | 240,651 | | 223,808 | |||
| Gross profit | 481,601 | | 426,125 | | 348,579 | |||
| Operating expenses: | | | | | | |||
| Research and development | 83,715 | | 66,666 | | 58,212 | |||
| Selling and marketing | 196,488 | | 170,574 | | 140,237 | |||
| General and administrative | | 178,685 | | 152,835 | | 145,936 | ||
| Depreciation and amortization | 24,812 | | 20,953 | | 15,202 | |||
| Change in fair value of acquisition contingent earn-outs | (17,000) | | 17,500 | | — | |||
| Other operating expense (income), net | 12,570 | | (175) | | 6,502 | |||
| Total operating expenses | 479,270 | | 428,353 | | 366,089 | |||
| Income (loss) from operations | 2,331 | | (2,228) | | (17,510) | |||
| Interest expense (income), net | (5,248) | | (4,137) | | 4,164 | |||
| Income (loss) before income taxes | 7,579 | | 1,909 | | (21,674) | |||
| Income tax expense (benefit) | 368 | | 54,638 | | (8,581) | |||
| Net income (loss) | 7,211 | | (52,729) | | (13,093) | |||
| Other comprehensive (income) loss: | | | | | | |||
| Foreign currency translation adjustments, net of tax | | (44,520) | | | 24,150 | | | (5,978) |
| Unrealized loss (gain) on investments, net of tax | | 9 | | | (13) | | | (32) |
| Total other comprehensive income (loss), net of tax | | (44,511) | | | 24,137 | | | (6,010) |
| Total comprehensive income (loss) | $51,722 | | $(76,866) | | $(7,083) | |||
| | | | | | | | | |
| Net income (loss) per share of Class A and Class B, basic | $0.05 | | $(0.34) | | $(0.09) | |||
| Net income (loss) per share of Class A and Class B, diluted | $0.04 | | $(0.34) | | $(0.09) | |||
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Vertex, Inc. and Subsidiaries
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