Vertex, Inc.
Vertex, Inc. develops tax technology software for enterprises that need to determine, report, and manage indirect tax obligations across jurisdictions. Its platform combines tax content, compliance workflows, document management, analytics, and integrations with major enterprise applications, and it is delivered through cloud, hybrid, and on-premise subscription models.
Fiscal year 2025 · change from previous year
Development 2020–2025
Business
Share of revenueSoftware that calculates indirect tax on transactions across jurisdictions and channels.
Tools for filing, returns, digital reporting, and ongoing tax compliance workflows.
Capabilities for invoice validation, clearance workflows, and mandated digital reporting.
Managed tax rates, rules, document handling, and jurisdictional content updates.
Reporting, insights, enterprise software integrations, and implementation support.
Products
Reported · share of revenue- Cloud Subscriptions47.2 %
- Software Licenses38.3 %
- Services and other14.5 %
Source: 10-K FY2025, revenue the company reports per product line (SEC XBRL). Shares are of the lines shown and add up to 100 %.
Customers
Vertex sells primarily to enterprise and midmarket companies with complex indirect tax operations, especially those operating across many countries and sales channels. Its customer base includes large retailers, wholesalers, manufacturers, technology companies, digital marketplaces, and European industrial businesses that need automated compliance across multiple jurisdictions.
Global companies buying tax automation for high-volume, multi-jurisdiction compliance.
Growing firms that need scalable tax determination and filing workflows.
Merchants and distributors using Vertex for sales tax and cross-border compliance.
Producers with distributed supply chains that need jurisdiction-specific tax handling.
Software, platform, and marketplace businesses integrating tax logic into transactions.
Strategy
Vertex is focused on retaining and expanding existing customers by broadening the scope of tax and compliance workflows it supports. It also aims to deepen its ecosystem through integrations with enterprise software vendors, system integrators, and accounting firms, while continuing to extend cloud and e-invoicing capabilities across more jurisdictions.
The platform can be sold across multiple tax types, countries, and workflows over time.
More jurisdictions and mandates increase the need for automated tax content and workflows.
ERP, commerce, and advisory partners help drive implementation and customer acquisition.
Geography
Vertex is headquartered in North America and serves customers in more than 195 countries and territories. It operates offices in South America and Europe and runs cloud services from data centers in North America and Europe, which supports global deployment and business continuity.
Risks
Vertex faces execution risk from rapid changes in tax rules, e-invoicing mandates, and the need to keep its content and software current across many jurisdictions. It is also exposed to cybersecurity, data privacy, third-party infrastructure, and government-platform dependency risks because its software handles sensitive transaction data and connects to external compliance systems.
- Rapid changes in tax and compliance rulesImpact: HighLikelihood: Medium
The product depends on accurate jurisdictional content and timely updates across many countries.
Exposure - Government e-invoicing infrastructure dependencyImpact: HighLikelihood: Medium
Clearance models require connectivity to government platforms for invoices to be valid.
Exposure: Digital invoicing and continuous transaction controls
- Cybersecurity and data privacy breachesImpact: HighLikelihood: Medium
The platform stores sensitive customer transaction and employee data.
Exposure - Third-party infrastructure outagesImpact: MediumLikelihood: Medium
Cloud services and integrations rely on external data centers and technology providers.
Exposure
Accounting
Judgemental itemsSoftware subscriptions and content updates may be recognized over contract terms, affecting timing.
Impact: Deferred revenue and quarterly revenue pattern
Cash collection can precede revenue recognition for subscription contracts.
Impact: Working capital and contract liability balances
Management must estimate annual tax rates, valuation allowances, and tax positions.
Impact: Effective tax rate and net income
Purchased technology and customer relationships may require amortization and impairment review.
Impact: Operating expenses and potential impairment charges
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Last updated: 24/09/2026