Vertex, Inc. reports developments in enterprise tax and compliance technology for global commerce, with recurring updates on indirect tax solutions, financial results, cloud revenue, and product innovation. The company provides tax determination, e-invoicing, compliance and reporting, tax data management, and related software for sales and consumer use tax, value-added tax, payroll, and other indirect tax workflows.
Company news also covers AI-driven capabilities within Vertex Cloud, availability of Vertex O Series Tax Engine and Indirect Tax Accelerator through Oracle Marketplace, acquisition activity such as Brinta in Latin America, and Vertex research on sales tax rates and rules changes across U.S. jurisdictions.
Vertex (NASDAQ:VERX), a leading global provider of indirect tax solutions, has announced 65 new enhancements to its tax technology portfolio. The update includes significant integrations with major platforms like SAP, Oracle, Coupa, and Shopify, alongside the introduction of Vertex Copilot, an AI-powered assistant, and Vertex Express Returns for U.S. and Canadian tax compliance.
Key improvements include Brazil tax reform readiness, tax content expansion with 300+ new categories, enhanced VAT ID validation across 67+ countries, and new e-invoicing capabilities. The company has also strengthened its cloud presence with Vertex Tax Calculation on Azure, now available via Microsoft Marketplace.
These updates aim to simplify global tax compliance, reduce implementation time, and support clean-core ERP strategies while maintaining business continuity.Vertex Inc. (NASDAQ:VERX) has been named a finalist for the 2025 SAP® Pinnacle Award in the SAP Store category. The award recognizes SAP partners who excel in partnership development and customer success. The selection was based on SAP recommendations, customer feedback, and performance indicators across 24 categories.
The SAP Store category specifically evaluates partners based on solution visibility, opportunity creation, and pipeline impact. Brian Wilchusky, Senior Director of SAP Global Partnerships at Vertex, highlighted the company's 25-year collaboration with SAP in delivering integrated tax solutions. Vertex will also participate in and sponsor the upcoming SAP Sapphire conference.
Vertex Inc. (NASDAQ:VERX), a global tax technology solutions provider, has announced its participation in the 20th Annual Needham Technology, Media, & Consumer Conference. The company's leadership, including CEO David DeStefano and CFO John Schwab, will engage in a fireside chat scheduled for Monday, May 12, 2025, at 9:30 AM Eastern Time. Investors and interested parties can access both live webcasts and replay recordings of the presentations through Vertex's investor relations website at ir.vertex.com.
Vertex (NASDAQ: VERX) reported strong Q1 2025 financial results with total revenues reaching $177.1 million, up 12.9% year-over-year. The company's cloud revenues grew significantly by 29.6% to $80.2 million, while software subscription revenues increased 14.4% to $150.8 million. Net income rose to $11.1 million from $2.7 million in the prior year.
Annual Recurring Revenue (ARR) grew 17.9% to $618.5 million, including contributions from recent acquisitions Systax and ecosio. The company maintained strong customer metrics with Net Revenue Retention at 109% and Gross Revenue Retention at 95%. For full-year 2025, Vertex projects revenues of $760-768 million and cloud revenue growth of 28%.
The company recently invested in Kintsugi AI, securing an IP sharing agreement to enhance R&D efforts in AI-driven tax compliance solutions for SMBs.
Vertex (NASDAQ:VERX) released new research on global e-invoicing trends, surveying 1,150 tax and finance professionals. The study reveals 79% of global business leaders view e-invoicing mandates as beneficial, with 80% believing these mandates will enhance data accuracy and financial reporting. The research highlights that 80% of businesses plan to improve e-invoicing system integration within two years.
Key findings show that e-invoicing improves efficiency and cost savings (both ~60%) and enhances economic growth and global competitiveness (~80%). However, challenges persist, with 51% of respondents citing data security concerns and varying international standards as major hurdles. The study also reveals that 47% of sales in mandated countries are currently affected by e-invoicing requirements, expected to rise to 57% by 2027. Additionally, 86% of respondents are either using or planning to use AI for e-invoicing support, particularly in customer support (53%), cash flow management (51%), and fraud detection (49%).
Vertex has made a strategic $15 million minority investment in Kintsugi, acquiring a 10% stake in the AI-native tax compliance startup. The deal includes IP sharing and a commercial arrangement, with Vertex joining Kintsugi's Board of Directors.
Founded in 2023, Kintsugi specializes in automating sales tax compliance for small and mid-size businesses across the US, Canada, and Europe. Their AI-driven platform integrates with digital accounting and payment systems, offering automated tax calculations, filings, and compliance monitoring.
This investment is separate from Vertex's previously announced $10-12 million AI technology spending for 2025. The partnership aims to accelerate Vertex's AI roadmap for mid-market and enterprise customers while supporting Kintsugi's mission to simplify tax compliance for growing businesses. Vertex will not consolidate Kintsugi's results, with the ownership being accounted for at cost on the balance sheet.
Vertex (NASDAQ:VERX), a global provider of indirect tax solutions, has scheduled its first quarter 2025 financial results announcement for Wednesday, May 7, 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 10198364) or the company website until May 21, 2025 at 11:59 p.m. Eastern Time.
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.