Welcome to our dedicated page for Vertex news (Ticker: VERX), a resource for investors and traders seeking the latest updates and insights on Vertex stock.
Overview of Vertex, Inc.
Vertex, Inc. is a global provider of cutting-edge tax technology solutions designed to streamline the processing and compliance of indirect taxes worldwide. Utilizing advanced software and cloud-based platforms, Vertex offers a comprehensive suite of services that span tax determination, data management, document management, and compliance reporting. The company integrates deep industry expertise with technology to help businesses automate tax processes, reduce operational risk, and achieve significant productivity gains.
Core Business Areas and Operations
At its core, Vertex specializes in enabling companies to maneuver through the complexities of tax regulations efficiently. Its solutions are tailored to meet the diverse needs of industries confronted with sales and consumer use tax, value-added tax (VAT), payroll, and other mixed-type indirect taxes. By providing both cloud-based and on-premise platforms, Vertex supports global enterprises in managing compliance with local and international regulatory requirements. The company derives its revenue from a subscription-based model, ensuring a predictable revenue stream while continuously upgrading its offerings to address ongoing changes in tax laws.
Market Position and Industry Impact
Operating within the niche of tax technology, Vertex has established a robust market presence by partnering with leading enterprise resource planning (ERP) systems and collaborating with major accounting firms. Its long-established history, dating back to 1978, lends credibility and depth to its market know-how. Vertex has successfully positioned itself as a trusted partner for over 10,000 corporate customers globally, addressing key challenges such as a shrinking talent pool in the tax function and the increasing scrutiny over corporate tax practices. The company’s sophisticated solutions empower tax functions to become strategic contributors to overall business health, moving beyond traditional compliance to offer insights that drive organizational efficiency.
Advanced Technology and Service Integration
Vertex leverages state-of-the-art technology to solve intricate tax challenges faced by modern businesses. Its platforms integrate seamlessly with various enterprise systems, reducing the complexity of tax calculations across jurisdictions and automating critical processes. This integration not only streamlines tax operations but also enhances the accuracy of tax submissions and reporting. Customers benefit from Vertex’s continuous commitment to innovation, which is underscored by its deep collaboration with major technology and consulting partners.
Customer Focus and Strategic Partnerships
Vertex serves a wide range of clients from multinational corporations to local businesses, ensuring that the diversity in tax regulations is met with agile and scalable solutions. The company’s strategic partnerships with leading software providers and audit firms further reinforce its ability to offer comprehensive, integrated tax solutions. These partnerships enable customers to align their tax strategies with broader business objectives, enhancing operational efficiency and regulatory confidence.
In-Depth Expertise and Continuous Innovation
Backed by decades of experience and a robust team of tax experts, Vertex continues to drive innovation in the tax technology space. The company prides itself on its ability to anticipate and adapt to the evolving tax landscape, thereby empowering businesses to manage compliance with increased confidence. By combining industry insights with a rigorous technological framework, Vertex demonstrates deep expertise and a commitment to delivering solutions that not only meet but exceed the current demands of tax regulation.
Positioning Within the Competitive Landscape
Within a competitive market that includes traditional tax consultancies and emerging technology startups, Vertex distinguishes itself by offering a holistic approach to tax management. Its established history, extensive experience, and commitment to technological excellence make it a pivotal player in its industry, capable of addressing complex tax challenges with precise, actionable solutions. The company's focus on scalability and integration allows it to remain a preferred partner for businesses undergoing digital transformation in tax functions.
Conclusion
Vertex, Inc. stands as an authoritative source of tax technology innovations, leveraging a blend of advanced software, expert knowledge, and strategic partnerships to transform the management of indirect taxes. Its solutions are designed to meet the evolving needs of a global client base, ensuring that businesses can not only comply with intricate tax laws but also optimize their operations for enhanced financial and operational performance.
Vertex Inc. (NASDAQ:VERX) released a study highlighting the challenges retailers face during 'Returnuary' - the post-holiday return season from late December through early February. The study reveals that 81% of consumers prefer free returns, with 68% basing future brand engagement on their return experience.
The research shows that 40% of consumers return at least one item post-holiday valued between $25-$100, with 55% monitoring sales tax refund accuracy. While 77% of holiday transactions occur online, approximately 60% of returns are processed in-store. Notable findings include that 35% of consumers make purchases intending to return items.
The study emphasizes the complex tax implications for retailers managing omnichannel returns, requiring accurate tax refund calculations across different jurisdictions and sales channels. Vertex suggests that automated tax determination engines are important for retailers to handle high-volume seasons and ensure compliance.
Vertex Inc (NASDAQ: VERX) has announced its upcoming 2025 Investor Day, scheduled for Wednesday, March 19, in Philadelphia, PA. The event will run from 8:30 a.m. ET to 12:00 p.m. ET.
The program will include presentations and a Q&A session featuring members of the company's executive leadership team. While in-person attendance is invitation-only with required advanced registration due to capacity, investors can access a live video broadcast through Vertex's Investor Relations website at ir.vertexinc.com/events-and-presentations. A replay of the event will be made available shortly after its conclusion.
Vertex (NASDAQ: VERX) reported strong Q4 and full-year 2024 financial results, demonstrating robust growth across key metrics. Q4 total revenues reached $178.5 million, up 15.2% YoY, with cloud revenues growing 27% to $76.9 million. Annual Recurring Revenue (ARR) increased 17.7% to $603.1 million.
For full-year 2024, total revenues grew 16.5% to $666.8 million, with cloud revenues up 28.6% to $276.0 million. The company reported a net loss of $(52.7) million for 2024. Adjusted EBITDA margin improved to 22.8% from 17.6% in the prior year.
Looking ahead to 2025, Vertex projects revenues of $760-768 million, expecting 28% cloud revenue growth and Adjusted EBITDA of $161-165 million. The company plans additional R&D investments, including $4 million in ecosio and $10-12 million in AI initiatives and emerging technologies.
Vertex Inc. (NASDAQ:VERX) has announced an enhanced version of its Vertex e-Invoicing solution, integrating Continuous Transaction Controls (CTC) with Periodic Transaction Controls (PTC). The upgrade aims to streamline electronic invoicing processes by simplifying exchange, clearance, e-archiving, and VAT reporting & reconciliation of e-invoices globally.
The enhanced solution helps businesses navigate expanding e-invoicing mandates and country-specific requirements worldwide through a cloud-based network. It automates accounts payable and receivable transactions while streamlining indirect tax reporting and VAT filing reconciliation.
TeamViewer's Business Operations Manager Simon Grosser endorsed the solution, citing Vertex's extensive global market coverage and seamless system integration capabilities as key factors in their selection.
Vertex Inc. (NASDAQ:VERX) has released its 2024 U.S. state and local End-of-Year Rates and Rules Report, revealing significant changes in the tax landscape. The report highlights a surge in district-level tax activity, with 171 new district taxes enacted in 2024, marking the third highest total in seven years.
Key findings include 251 city-level tax changes (up 30% from 2023) and 220 rate increases (up 40% from 2023). The state average tax rate dropped to a decade-low of 5.4%. Local governments are implementing new taxes to address fiscal pressures and funding needs for public services. The report also notes that district tax rate decreases outpaced increases, indicating evolving fiscal management strategies.
The report warns of potential fiscal uncertainty in 2025, as federal tax act funding expired at the end of 2024, which may lead states to seek additional revenue through sales tax implementation.
Vertex (NASDAQ:VERX), a global provider of indirect tax solutions, has scheduled its fourth quarter 2024 financial results announcement for Thursday, February 27, 2025, before market opening. The company will host a conference call at 8:30 a.m. Eastern Time to discuss the results.
Participants can join the call by dialing 1-412-317-6026 ten minutes before start time. A listen-only webcast will be available through Vertex's Investor Relations website. A replay will be accessible via phone (1-412-317-6671, passcode 10195788) or the company website until March 13, 2025, at 11:59 p.m. Eastern Time.
Vertex (NASDAQ:VERX), a global tax technology solutions provider, has been named to Built In's 2025 Best Places to Work Awards, securing positions on both the '50 Best Remote Large Places to Work' and '100 Best Remote Places to Work' lists.
The recognition highlights Vertex's commitment to maintaining an exceptional remote-first workplace culture. The company's Chief People Officer, Ann Hollins, emphasized their focus on innovation, inclusivity, and employee well-being. Built In's selection process utilizes an algorithm that evaluates compensation, benefits, remote work opportunities, DEI programs, and other cultural initiatives.
Notable workplace programs at Vertex include Business Resource Groups (BRGs) for fostering community and belonging, and the Global Day of Service initiative, which enables employees across different work environments to connect through community service. Built In's CEO Maria Christopoulos Katris acknowledged the company's dedication to creating an environment where both individuals and innovation can flourish.
Vertex (NASDAQ:VERX) has been recognized as a Leader in three IDC MarketScape reports for 2024, covering tax automation software across enterprise, SMB, and VAT segments. The recognition encompasses SaaS and cloud-enabled solutions for sales and use tax automation, as well as value-added tax management applications.
This achievement builds upon previous leadership recognitions from IDC MarketScape in 2021 and 2019. According to IDC's Senior Director Kevin Permenter, Vertex distinguishes itself through deep expertise in enterprise-level tax software, offering industry-leading content and real-time reporting capabilities.
The company's CEO David DeStefano emphasized their mission to empower businesses with leading tax technology and simplify compliance in an increasingly complex tax environment.
Vertex (NASDAQ:VERX), a global tax technology solutions provider, has announced its participation in the Wells Fargo 8th Annual TMT Summit. CEO David DeStefano and CFO John Schwab will engage in a fireside chat scheduled for Wednesday, December 4, 2024, at 2:15 PM Pacific Time. Interested parties can access both the live webcast and replay of the discussion through Vertex's investor relations website at ir.vertex.com.
Vertex Inc (NASDAQ:VERX) released results from its peak season consumer survey, highlighting evolving shopping behaviors and tax management challenges. The survey of 1,000 respondents revealed that 73% prioritize free shipping, while 58% are opting for more gift cards and experiences this season.
Key findings show that 77% of consumers plan to shop online or use a hybrid approach, with 64% preferring trusted marketplaces. Additionally, 72% track product shipping origins, and 73% are aware of their state's sales tax, though only 17% consider tax implications in purchasing decisions.
The survey emphasizes the need for retailers to implement efficient tax automation systems to handle complex transactions across multiple jurisdictions, especially during high-volume shopping periods like Black Friday and Cyber Monday.
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