Vertex Inc

For the period ended Dec 31, 2023. Filed Feb 29, 2024.

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.

FY2023 · Filed Feb 29, 2024

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,
· 2023 · · 2022
Assets
Current assets: · ·
Cash and cash equivalents		$68,175	$91,803
Funds held for customers		20,976	14,945
Accounts receivable, net of allowance of $16,272 and $9,554, respectively		141,752	102,885
Prepaid expenses and other current assets		26,173	22,340
Investment securities available-for-sale, at fair value (amortized cost of $9,550 and $11,220, respectively)		9,545	11,173
Total current assets		266,621	243,146
Property and equipment, net of accumulated depreciation		100,734	101,090
Capitalized software, net of accumulated amortization		38,771	39,012
Goodwill and other intangible assets		260,238	257,023
Deferred commissions		21,237	15,463
Deferred income tax asset		41,708	30,938
Operating lease right-of-use assets		14,605	17,187
Other assets		16,013	15,333
Total assets		$759,927	$719,192
Liabilities and Stockholders' Equity
Current liabilities:
Current portion of long-term debt		$2,500	$2,188
Accounts payable		23,596	14,329
Accrued expenses		44,735	38,234
Customer funds obligations		17,731	12,121
Accrued salaries and benefits		12,277	10,790
Accrued variable compensation		34,105	23,729
Deferred compensation, current		—	2,809
Deferred revenue, current		290,143	268,847
Current portion of operating lease liabilities		3,717	4,086
Current portion of finance lease liabilities		74	103
Deferred purchase consideration, current		—	19,824
Purchase commitment and contingent consideration liabilities, current		11,901	6,149
Total current liabilities		440,779	403,209
Deferred revenue, net of current portion		2,577	10,289
Debt, net of current portion		44,059	46,709
Operating lease liabilities, net of current portion		16,567	20,421
Finance lease liabilities, net of current portion		51	10
Purchase commitment and contingent consideration liabilities, net of current portion		2,600	8,412
Deferred other liabilities		313	417
Total liabilities		506,946	489,467
Commitments and contingencies (Note 15)
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; 60,989 and 50,014 shares issued and outstanding, respectively		61	50
Class B voting common stock, $0.001 par value, 150,000 shares authorized; 92,661 and 100,307 shares issued and outstanding, respectively		93	100
Additional paid in capital		275,155	244,820
(Accumulated deficit) retained earnings		(586)	12,507
Accumulated other comprehensive loss		(21,742)	(27,752)
Total stockholders' equity		252,981	229,725
Total liabilities and stockholders' equity		$759,927	$719,192

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.