Vertex (VERX) Revenue & Revenue Breakdown
Vertex Revenue Highlights
Latest Revenue (Y)
$572.39M
Latest Revenue (Q)
$156.78M
Main Segment (Y)
Software subscriptions
Vertex Revenue by Period
Vertex Revenue by Year
| Date | Revenue | Change |
|---|---|---|
| 2023-12-31 | $572.39M | 16.43% |
| 2022-12-31 | $491.62M | 15.53% |
| 2021-12-31 | $425.55M | 13.58% |
| 2020-12-31 | $374.67M | 16.54% |
| 2019-12-31 | $321.50M | 18.02% |
| 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
| Date | Revenue | Change |
|---|---|---|
| 2024-03-31 | $156.78M | 1.21% |
| 2023-12-31 | $154.91M | 6.82% |
| 2023-09-30 | $145.03M | 3.82% |
| 2023-06-30 | $139.69M | 5.23% |
| 2023-03-31 | $132.75M | 1.24% |
| 2022-12-31 | $131.13M | 3.87% |
| 2022-09-30 | $126.24M | 5.84% |
| 2022-06-30 | $119.28M | 3.73% |
| 2022-03-31 | $114.98M | 2.98% |
| 2021-12-31 | $111.66M | 0.85% |
| 2021-09-30 | $110.72M | 5.51% |
| 2021-06-30 | $104.94M | 6.82% |
| 2021-03-31 | $98.24M | -1.31% |
| 2020-12-31 | $99.54M | 5.22% |
| 2020-09-30 | $94.61M | 3.65% |
| 2020-06-30 | $91.27M | 2.27% |
| 2020-03-31 | $89.25M | 3.69% |
| 2019-12-31 | $86.07M | 4.41% |
| 2019-09-30 | $82.44M | 5.19% |
| 2019-06-30 | $78.38M | 5.04% |
| 2019-03-31 | $74.61M | - |
Vertex generated $156.78M in revenue during Q1 2024, up 1.21% compared to the previous quarter, and up 119.57% compared to the same period a year ago.
Vertex Revenue Breakdown
Vertex Revenue Breakdown by Product
Annual Revenue by Product
| Product/Service | Dec 23 | Dec 22 | Dec 21 | Dec 20 |
|---|---|---|---|---|
| Cloud subscriptions | $214.62M | $168.90M | $127.04M | - |
| Software subscriptions | $480.83M | $415.47M | $358.42M | - |
| Software licenses | $266.21M | $246.58M | $231.37M | - |
| Services | $91.56M | $76.15M | $67.13M | - |
| Service Other | - | - | - | $57.90M |
| License And Service | - | - | - | $316.76M |
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/Service | Mar 24 | Dec 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jun 22 | Mar 22 | Dec 21 | Sep 21 | Jun 21 | Mar 21 | Dec 20 | Sep 20 | Jun 20 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Services | $24.95M | $47.96M | $21.86M | $21.74M | $20.24M | $19.87M | $18.19M | $17.85M | $18.40M | - | - | - | - | - | - |
| Software licenses | $69.99M | $136.78M | $66.63M | $62.81M | $64.26M | $62.59M | $60.87M | $58.86M | $58.56M | - | - | - | - | - | - |
| Software subscriptions | $131.83M | $251.98M | $117.84M | $111.01M | $110.89M | $106.37M | $101.09M | $97.13M | $93.25M | - | - | - | - | - | - |
| Cloud subscriptions | $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 Mar 24: Software subscriptions (45.68%), Software licenses (24.25%), Cloud subscriptions (21.43%), and Services (8.65%).
Vertex Peer Comparison by Revenue
| Ticker | Company | Last Year Revenue | Last Quarter Revenue |
|---|---|---|---|
| ENV | Envestnet | $1.25B | $348.27M |
| GWRE | Guidewire Software | $980.50M | $240.68M |
| CXM | Sprinklr | $732.36M | $197.21M |
| DV | DoubleVerify | $572.54M | $155.89M |
| VERX | Vertex | $572.39M | $156.78M |
| NCNO | nCino | $476.54M | $132.40M |
| CWAN | Clearwater Analytics | $368.17M | $106.79M |
| PRO | PROS | $303.71M | $82.70M |
| MLNK | MeridianLink | $303.62M | $78.68M |
| ALKT | Alkami | $264.83M | $85.91M |
| ENFN | Enfusion | $174.53M | $49.45M |
| EXFY | Expensify | $150.69M | $33.29M |
| LAW | CS Disco | $138.09M | $36.01M |
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 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). The company's quarterly revenue for Q4 2023 was $154.91M, a 6.82% increase from the previous quarter (Q3 2023), and a 18.14% increase year-over-year (Q4 2022). VERX's quarterly revenue for Q3 2023 was $145.03M, a 3.82% increase from the previous quarter (Q2 2023), and a 14.88% increase year-over-year (Q3 2022).
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, Software subscriptions, Software licenses, and Services. Cloud subscriptions generated $214.62M in revenue, accounting 20.38% of the company's total revenue, up 27.07% 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. Software licenses generated $266.21M in revenue, accounting 25.28% of the company's total revenue, up 7.96% year-over-year. Services generated $91.56M in revenue, accounting 8.69% of the company's total revenue, up 20.23% 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.