Vertex, Inc. - VERX STOCK NEWS

Vertex Inc. (NASDAQ:VERX) announced the expansion of its Chief Strategy Office with the addition of Christopher Hall and Kathya Capote Peimbert, strengthening its e-invoicing and global tax compliance capabilities. The expansion comes as businesses face increasing compliance challenges due to accelerating e-invoicing mandates worldwide.

Hall brings over 30 years of experience in ERP integration and tax technology, previously serving as Director of Global Indirect Tax Strategy at Ford. Peimbert, formerly Global E-invoicing Lead at KPMG, brings expertise in global tax compliance and e-invoicing strategies, particularly in Latin America and Europe.

The strategic expansion aims to enhance Vertex's automated tax solutions and ERP integrations, addressing the projected implementation of e-invoicing mandates across 200 VAT jurisdictions by 2030.

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.