For the year ending 2025-12-31, VERX had $12,229K increase in cash & cash equivalents over the period. $69,307K in free cash flow.
| Cash Flow | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Net income (loss) | 7,211 | -52,729 | -13,093 | -12,304 |
| Depreciation and amortization | 96,931 | 82,733 | 71,891 | 61,153 |
| Amortization of cloud computing implementation costs | 3,738 | 4,007 | 2,570 | - |
| Provision for subscription cancellations and non-renewals | 2,700 | 199 | 2,083 | -196 |
| Change in settlement value of deferred purchase commitment liability | - | -423 | - | - |
| Amortization of deferred financing costs | 2,721 | 2,033 | 266 | 245 |
| Change in fair value of contingent consideration liabilities | -16,800 | 14,925 | - | - |
| Stock-based compensation expense | 57,763 | 47,425 | 33,919 | 19,729 |
| Deferred income taxes | -5,395 | 51,068 | -11,574 | -1,345 |
| Non-cash operating lease costs | 3,258 | 2,857 | 2,587 | 3,357 |
| Other | 54 | 203 | -5,335 | -4,052 |
| Accounts receivable | 12,880 | 22,076 | 45,222 | 25,665 |
| Prepaid expenses and other current assets | 5,805 | 14,207 | 6,354 | 214 |
| Deferred commissions | 4,428 | 6,242 | 5,774 | 2,908 |
| Accounts payable | 1,225 | 11,615 | 9,241 | 1,369 |
| Accrued expenses | 8,128 | -12,323 | 5,837 | 15,064 |
| Accrued and deferred compensation | -5,170 | 9,232 | 7,516 | -12,005 |
| Deferred revenue | 35,674 | 51,096 | 18,172 | 30,768 |
| Write-off of deferred financing costs | - | 276 | - | 370 |
| Operating lease liabilities | -4,323 | -3,999 | -4,224 | -4,041 |
| Payments for purchase commitment and contingent consideration liabilities in excess of initial fair value | -200 | -4,367 | - | - |
| Other | 1,249 | 3,078 | 1,156 | -583 |
| Net cash provided by operating activities | 165,543 | 164,821 | 74,332 | 76,846 |
| Long-term investment | 15,000 | - | - | - |
| Property and equipment additions | 96,236 | 65,769 | 49,261 | 58,530 |
| Acquisition of businesses and assets, net of cash acquired | - | 71,755 | - | - |
| Acquisition of business, net of cash acquired | - | - | - | 474 |
| Capitalized software additions | 21,718 | 21,344 | - | - |
| Payments for purchase commitment and contingent consideration liabilities | - | 7,580 | 6,424 | 423 |
| Purchase of investment securities, available-for-sale | 2,398 | 15,993 | 16,328 | 16,518 |
| Distributions under tax sharing agreement | - | - | - | 536 |
| Capitalized software additions | - | - | 18,972 | 14,888 |
| Proceeds from sales and maturities of investment securities, available-for-sale | 11,607 | 16,710 | 18,390 | 5,364 |
| Payments for deferred purchase commitments | - | - | 20,000 | 20,000 |
| Payment for purchase of capped calls | - | 42,366 | - | - |
| Net cash used in investing activities | -123,745 | -158,151 | -66,171 | -85,046 |
| Net increase (decrease) in customer funds obligations | -5,604 | 9,675 | 5,610 | -11,340 |
| Proceeds from term loan | - | - | - | 50,000 |
| Payments on third-party debt | - | 3,904 | - | - |
| Repurchases of shares | 10,094 | - | - | - |
| Payments of finance lease liabilities | - | - | -103 | -1,354 |
| Proceeds from convertible senior notes | - | 345,000 | - | - |
| Proceeds from purchases of stock under espp | 4,236 | 2,998 | 2,486 | 1,951 |
| Payments for taxes related to net share settlement of stock-based awards | 28,950 | 21,516 | 9,701 | 1,104 |
| Principal payments on long-term debt | - | 46,875 | 2,188 | 938 |
| Payments for deferred financing costs | - | 12,541 | 1,001 | 983 |
| Proceeds from exercise of stock options | 7,706 | 8,459 | 4,839 | 1,821 |
| Payments of finance lease liabilities | 76 | 93 | - | - |
| Net cash provided by (used in) financing activities | -32,782 | 231,257 | -26,482 | 17,094 |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | 3,213 | -1,012 | 724 | -352 |
| Net increase (decrease) in cash, cash equivalents and restricted cash | 12,229 | 236,915 | -17,597 | 8,542 |
| Cash, cash equivalents and restricted cash, beginning of period | 326,066 | - | - | - |
| Cash, cash equivalents and restricted cash, end of period | 338,295 | - | - | - |
Vertex, Inc. (VERX)
Vertex, Inc. (VERX)