Trade Vertex Inc - VERX CFD

Vertex, Inc. Company profile

About Vertex Inc

Vertex, Inc. is a provider of enterprise tax technology solutions. The Company’s software solutions automate indirect tax processes for enterprises with complex tax operations and audit risk. Its software includes tax determination, compliance and reporting, tax data management and document management tools, as well as pre-built integrations to major business applications. Its tax determination solutions enable real-time calculation of indirect taxes and applicable fees for sale and purchase transactions. Its compliance and reporting solutions enable the automation of signature-ready returns and remittance of indirect tax to appropriate jurisdictions. Its tax data management tools enable enterprises to unify transaction data from multiple business applications and sources. Its document management solutions offer tax audit support for sales tax exemptions and reseller certificates, enabling enterprises to manage large quantities of documents, such as tax exemption certificates.

Financial summary

BRIEF: For the fiscal year ended 31 December 2021, Vertex Inc revenues increased 14% to $425.5M. Net loss decreased 98% to $1.5M. Revenues reflect Software subscriptions increase of 13% to $358.4M, Services increase of 16% to $67.1M. Lower net loss reflects Stock-based Compensation decrease of 82% to $12.2M (expense), Stock-based Compensation in SGA decrease of 78% to $6.4M (expense).