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Vertex (VERX) Revenue & Revenue Breakdown

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Vertex Revenue Highlights

Latest Revenue (Y)

$572.39M

Latest Revenue (Q)

$170.44M

Main Segment (Y)

Software subscriptions

Vertex Revenue by Period

Vertex Revenue by Year

DateRevenueChange
2023-12-31$572.39M16.43%
2022-12-31$491.62M15.53%
2021-12-31$425.55M13.58%
2020-12-31$374.67M16.54%
2019-12-31$321.50M18.02%
2018-12-31$272.40M-

Vertex generated $572.39M in revenue during NA 2023, up 16.43% compared to the previous quarter, and up 210.13% compared to the same period a year ago.

Vertex Revenue by Quarter

DateRevenueChange
2024-09-30$170.44M5.79%
2024-06-30$161.10M2.76%
2024-03-31$156.78M1.21%
2023-12-31$154.91M6.82%
2023-09-30$145.03M3.82%
2023-06-30$139.69M5.23%
2023-03-31$132.75M1.24%
2022-12-31$131.13M3.87%
2022-09-30$126.24M5.84%
2022-06-30$119.28M3.73%
2022-03-31$114.98M2.98%
2021-12-31$111.66M0.85%
2021-09-30$110.72M5.51%
2021-06-30$104.94M6.82%
2021-03-31$98.24M-1.31%
2020-12-31$99.54M5.22%
2020-09-30$94.61M3.65%
2020-06-30$91.27M2.27%
2020-03-31$89.25M3.69%
2019-12-31$86.07M4.41%
2019-09-30$82.44M5.19%
2019-06-30$78.38M5.04%
2019-03-31$74.61M-

Vertex generated $170.44M in revenue during Q3 2024, up 5.79% compared to the previous quarter, and up 122.01% compared to the same period a year ago.

Vertex Revenue Breakdown

Vertex Revenue Breakdown by Product

Annual Revenue by Product

Product/ServiceDec 23Dec 22Dec 21Dec 20
Cloud subscriptions$214.62M$168.90M$127.04M-
Services$91.56M$76.15M$67.13M-
Software licenses$266.21M$246.58M$231.37M-
Software subscriptions$480.83M$415.47M$358.42M-
License And Service---$316.76M
Service Other---$57.90M

Vertex's latest annual revenue breakdown by segment (product or service), as of Dec 23: Software subscriptions (45.65%), Software licenses (25.28%), Cloud subscriptions (20.38%), and Services (8.69%).

Quarterly Revenue by Product

Product/ServiceSep 24Mar 24Dec 23Jun 23Mar 23Dec 22Sep 22Jun 22Mar 22Dec 21Sep 21Jun 21Mar 21Dec 20Sep 20Jun 20
Services$24.18M$24.95M$47.96M$21.86M$21.74M$20.24M$19.87M$18.19M$17.85M$18.40M------
Software subscriptions$146.25M$131.83M$251.98M$117.84M$111.01M$110.89M$106.37M$101.09M$97.13M$93.25M------
Software licenses$75.27M$69.99M$136.78M$66.63M$62.81M$64.26M$62.59M$60.87M$58.86M$58.56M------
Cloud subscriptions$70.98M$61.84M$115.20M$51.21M$48.21M$46.63M$43.78M$40.22M$38.27M$34.69M------
Service Other----------$18.44M$15.33M$14.96M$15.63M$14.83M$13.96M
Cloud Subscriptions----------$33.34M$32.08M----
Software Licenses----------$58.93M$57.52M----
License And Service----------$92.28M$89.60M$83.28M$83.92M$79.78M$77.31M

Vertex's latest quarterly revenue breakdown by segment (product or service), as of Sep 24: Software subscriptions (46.18%), Software licenses (23.77%), Cloud subscriptions (22.41%), and Services (7.64%).

Vertex Peer Comparison by Revenue

TickerCompanyLast Year RevenueLast Quarter Revenue
ENVEnvestnet$1.25B$340.38M
GWREGuidewire Software$980.50M$240.68M
CXMSprinklr$732.36M$197.21M
DVDoubleVerify$572.54M$169.56M
VERXVertex$572.39M$170.44M
NCNOnCino$476.54M$132.40M
CWANClearwater Analytics$368.17M$115.83M
PROPROS$303.71M$82.70M
MLNKMeridianLink$303.62M$80.37M
ALKTAlkami$264.83M$85.91M
ENFNEnfusion$174.53M$51.17M
EXFYExpensify$150.69M$35.41M
LAWCS Disco$138.09M$36.27M

VERX Revenue FAQ

What is Vertex’s yearly revenue?

Vertex's yearly revenue for 2023 was $572.39M, representing an increase of 16.43% compared to 2022. The company's yearly revenue for 2022 was $491.62M, representing an increase of 15.53% compared to 2021. VERX's yearly revenue for 2021 was $425.55M, representing an increase of 13.58% compared to 2020.

What is Vertex’s quarterly revenue?

Vertex's quarterly revenue for Q3 2024 was $170.44M, a 5.79% increase from the previous quarter (Q2 2024), and a 17.52% increase year-over-year (Q3 2023). The company's quarterly revenue for Q2 2024 was $161.1M, a 2.76% increase from the previous quarter (Q1 2024), and a 15.33% increase year-over-year (Q2 2023). VERX's quarterly revenue for Q1 2024 was $156.78M, a 1.21% increase from the previous quarter (Q4 2023), and a 18.10% increase year-over-year (Q1 2023).

What is Vertex’s revenue growth rate?

Vertex's revenue growth rate for the last 3 years (2021-2023) was 34.51%, and for the last 5 years (2019-2023) was 78.04%.

What are Vertex’s revenue streams?

Vertex's revenue streams in c 23 are Cloud subscriptions, Services, Software licenses, and Software subscriptions. Cloud subscriptions generated $214.62M in revenue, accounting 20.38% of the company's total revenue, up 27.07% year-over-year. Services generated $91.56M in revenue, accounting 8.69% of the company's total revenue, up 20.23% year-over-year. Software licenses generated $266.21M in revenue, accounting 25.28% of the company's total revenue, up 7.96% year-over-year. Software subscriptions generated $480.83M in revenue, accounting 45.65% of the company's total revenue, up 15.73% year-over-year.

What is Vertex’s main source of revenue?

For the fiscal year ending Dec 23, the largest source of revenue of Vertex was Software subscriptions. This segment made a revenue of $480.83M, representing 45.65% of the company's total revenue.