Vertex Inc (NASDAQ: VERX) is a tax technology company that provides software and services for indirect tax determination, compliance, and reporting. Revenue comes primarily from software subscriptions, with a services segment covering implementation and related work. Total revenues reached $748.4M in FY2025, up from $666.8M in FY2024. The subscription-heavy model produces meaningful gross margins: non-GAAP gross margin was 75.1% in FY2025 versus 73.9% in FY2024. On a GAAP basis, income from operations was $2.3M in FY2025 compared to an operating loss of $2.2M in FY2024. Cost of software subscriptions was $187.8M in FY2025, while cost of services was $79.0M. The company carries convertible debt, with an indenture dated April 26, 2024 with U.S. Bank Trust Company. Vertex went public in 2020 and is incorporated in Delaware. The filing excerpts do not specify customer concentration, headcount, or named competitors.

Revenue model

Primarily software subscription fees for indirect tax software; secondarily services revenue from implementation and related professional services.

Products and services

Indirect tax determination, compliance, and reporting software delivered as subscriptions; implementation and professional services.

Customers and end markets

The filing excerpts do not specify customer types, named customers, or end market detail beyond indirect tax compliance software buyers.

Value-chain role

Software vendor providing indirect tax calculation and compliance automation to enterprises.

Geographic exposure

The filing excerpts do not specify geographic revenue breakdown.

Source: SEC 10-K, filed 2026-02-24

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