VERX Class A Vertex, Inc. - Class A Common Stock
NASDAQ · Technology · View on SEC EDGAR ↗ close Oct 2, 2026 10-K/10-Q Aug 4, 2026
$12.01
· of 52w range
· above low
· to high
$10.2152w low
$26.5452w high
Revenue
$748M
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52W Range
$10–$27
Analyst Rating
HOLD
Price Target
$17
P/E
·
ROE
2.8%
Net Profit Margin
0.45%
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VERX Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$12.01
Revenue
$748M
ROE
2.8%
Debt/Equity (MRQ)
1.4
52W Range
$10–$27
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue$748M2020-12-31 → 2025-12-31
Free Cash Flow·2020-12-31 → 2023-12-31
Net margin0.45%2020-12-31 → 2025-12-31
Valuation & Ratios
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
No data for this ratio group yet
Not enough fundamentals data to compute this ratio group yet.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
| Metric | 5Y trend | VERX | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Gross Margin (TTM) | 64.0%5Y avg ≈62.4% | ≈62.4% | 64.4% | In line | |
| Operating Margin (TTM) | -1.7%5Y avg ≈-1.1% | ≈-1.1% | -2.2% | In line | |
| EBITDA Margin | 0.31%5Y avg ≈-1.1% | ≈-1.1% | -2.2% | In line | |
| Pretax Margin (TTM) | -1.2%5Y avg ≈-1.1% | ≈-1.1% | -2.0% | In line | |
| Net Profit Margin (TTM) | 0.45%5Y avg ≈-2.4% | ≈-2.4% | 4.0% | In line | |
| ROA | 0.59%5Y avg ≈-1.7% | ≈-1.7% | 0.32% | Top tier | |
| ROE | 2.8%5Y avg ≈-6.5% | ≈-6.5% | 2.8% | In line | |
| ROIC | 0.37%5Y avg ≈0.96% | ≈0.96% | 3.1% | Weak |
Financial Health Debt, liquidity, solvency — balance sheet strength
| Metric | 5Y trend | VERX | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Debt / Equity (MRQ) | 1.45Y avg ≈0.9 | ≈0.9 | 0.9 | Above avg | |
| Current Ratio (MRQ) | 0.95Y avg ≈0.7 | ≈0.7 | 1.0 | Low liquidity | |
| Quick Ratio | 0.95Y avg ≈0.6 | ≈0.6 | 0.8 | Low liquidity | |
| Long-Term Debt / Equity (MRQ) | 1.45Y avg ≈0.9 | ≈0.9 | 1.4 | In line |
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
| Metric | 5Y trend | VERX | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Revenue YoY | 12.2%5Y avg ≈14.9% | ≈14.9% | · | · | |
| Revenue CAGR 3Y | 15.0%5Y avg ≈15.5% | ≈15.5% | · | · | |
| Revenue CAGR 5Y | 14.8% | · | · | · |
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
| Metric | 5Y trend | VERX | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Asset Turnover | 0.65Y avg ≈0.7 | ≈0.7 | 0.6 | In line | |
| Receivables Turnover | 4.35Y avg ≈4.9 | ≈4.9 | 8.0 | Weak | |
| Revenue / Employee | ≈$374.2K | · | · | · |
value · ≈ 5Y avg · industry median · verdict relative to median
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
3.8%
Next Report
Nov 02, 2026
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| June 30, 2026 | Aug 12, 2026 | $0.20 | $0.19 | 2.8% |
| March 31, 2026 | May 13, 2026 | $0.17 | $0.17 | 0.89% |
| Dec. 31, 2025 | $0.17 | $0.17 | 2.2% | |
| Sept. 30, 2025 | $0.17 | $0.16 | 4.2% | |
| June 30, 2025 | $0.15 | $0.14 | 3.6% | |
| March 31, 2025 | $0.15 | $0.14 | 9.3% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $748M | $667M | $572M | $492M | $426M | $375M | $322M | $272M | |
| Cost of Revenue | $267M | $241M | $224M | $193M | $162M | $165M | $110M | $96M | |
| Gross Profit | $482M | $426M | $349M | $298M | $264M | $209M | $211M | $177M | |
| R&D Expense | $84M | $67M | $58M | $42M | $44M | $54M | $31M | $24M | |
| SG&A Expense | $179M | $153M | $146M | $122M | $107M | $149M | $71M | $59M | |
| Operating Expenses | $479M | $428M | $366M | $307M | $267M | $314M | $179M | $180M | |
| Operating Income | $2M | $-2M | $-18M | $-8M | $-3M | $-105M | $32M | $-3M | |
| Other Non-op | · | · | · | · | $-984.0K | $-3M | $-953.0K | $-2M | |
| Pretax Income | $8M | $2M | $-22M | $-10M | $-4M | $-108M | $31M | $-4M | |
| Income Tax | $368.0K | $55M | $-9M | $2M | $-2M | $-33M | $-155.0K | $2M | |
| Net Income | $7M | $-53M | $-13M | $-12M | $-1M | $-75M | $31M | $-6M | |
| EBITDA | $2M | $-2M | $-18M | $-8M | $-3M | $-105M | · | · |
Balance Sheet
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $314M | $296M | $68M | $92M | $73M | $303M | $76M | $56M | |
| Receivables | $183M | $164M | $142M | $103M | $77M | $77M | $70M | $62M | |
| Prepaid Expense | $39M | $37M | $26M | $22M | $21M | $13M | $12M | · | |
| Other Current Assets | · | · | · | $12M | $8M | $7M | · | · | |
| Current Assets | $561M | $536M | $267M | $243M | $196M | $403M | $166M | · | |
| PP&E (Net) | · | · | $89M | $101M | $97M | $57M | $55M | · | |
| PP&E (Gross) | · | · | $264M | $283M | $247M | $176M | $156M | · | |
| Accum. Depreciation | · | · | $163M | $182M | $148M | $119M | $102M | · | |
| Goodwill | $392M | $358M | $258M | $252M | $270M | $16M | $0 | · | |
| Intangibles | · | · | · | · | · | $2M | · | · | |
| Other Non-current Assets | $12M | $14M | $16M | $15M | $4M | $3M | $849.0K | · | |
| Total Assets | $1.27B | $1.17B | $760M | $719M | $670M | $559M | $265M | · | |
| Accounts Payable | $38M | $36M | $24M | $14M | $13M | $9M | $11M | · | |
| Accrued Liabilities | $44M | $35M | $45M | $38M | $23M | $19M | $13M | · | |
| Current Liabilities | $575M | $537M | $441M | $403M | $369M | $292M | $335M | · | |
| Capital Leases | $9M | $13M | $17M | $20M | $24M | $225.0K | · | · | |
| Deferred Tax | $6M | $10M | · | · | · | · | · | · | |
| Total Liabilities | $1.01B | $987M | $507M | $489M | $440M | $329M | $377M | · | |
| Long-term Debt | $337M | $335M | $47M | $49M | · | $1M | $51M | · | |
| Total Debt | $337M | $335M | $47M | $49M | · | $1M | · | · | |
| Paid-in Capital | $316M | $278M | $275M | $245M | $223M | $207M | · | · | |
| Retained Earnings | $-46M | $-53M | $-586.0K | $13M | $25M | $26M | $-91M | · | |
| Treasury Stock | $10M | · | · | · | · | · | $39M | · | |
| AOCI | $-1M | $-46M | $-22M | $-28M | $-17M | $-3M | $-491.0K | · | |
| Stockholders' Equity | $259M | $179M | $253M | $230M | $230M | $229M | $-130M | · | |
| Liabilities + Equity | $1.27B | $1.17B | $760M | $719M | $670M | $559M | $265M | · |
Cash Flow
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| D&A | $97M | $83M | $72M | $61M | $45M | $32M | $25M | $25M | |
| Stock-based Comp | $58M | $47M | $34M | $20M | $26M | $148M | $9M | $5M | |
| Deferred Tax | $-5M | $51M | $-12M | $-1M | $-3M | $-33M | $-848.0K | $847.0K | |
| Amort. of Intangibles | $2M | $3M | $3M | $4M | $1M | $443.0K | · | · | |
| Operating Cash Flow | $166M | $165M | $74M | $64M | $90M | $60M | $92M | $80M | |
| CapEx | · | $72M | $49M | $46M | $32M | $21M | $20M | $21M | |
| Investing Cash Flow | $-124M | $-158M | $-66M | $-72M | $-295M | $-44M | $-38M | $-33M | |
| Debt Issued | · | · | · | · | · | $175M | · | · | |
| Net Debt Issued | · | $-47M | $-2M | $-938.0K | · | $-51M | · | · | |
| Stock Issued | · | · | · | · | · | $423M | · | · | |
| Stock Repurchased | $10M | · | · | · | · | · | $841.0K | $1M | |
| Net Stock Activity | $-10M | · | · | · | · | $423M | · | · | |
| Dividends Paid | · | · | · | · | · | $146M | $29M | $28M | |
| Financing Cash Flow | $-33M | $231M | $-26M | $17M | $-9M | $214M | $-31M | $-31M | |
| Net Change in Cash | $12M | $237M | $-18M | $9M | $-214M | $229M | $24M | $16M | |
| Taxes Paid | $2M | $9M | $6M | $3M | $1M | $588.0K | $945.0K | $668.0K | |
| Free Cash Flow | · | · | $25M | $18M | $59M | $39M | · | · |
Profitability
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 64.3% | 63.9% | 60.9% | 60.7% | 62.0% | 55.9% | · | · | |
| Operating Margin | 0.31% | -0.33% | -3.1% | -1.6% | -0.69% | -28.0% | · | · | |
| Net Margin | 0.96% | -7.9% | -2.3% | -2.5% | -0.35% | -21.1% | · | · | |
| Pretax Margin | 1.0% | 0.29% | -3.8% | -2.1% | -0.92% | -28.8% | · | · | |
| EBITDA Margin | 0.31% | -0.33% | -3.1% | -1.6% | -0.69% | -28.0% | · | · | |
| ROA | 0.59% | -5.5% | -1.8% | -1.8% | -0.22% | -14.7% | · | · | |
| ROE | 2.8% | -24.1% | -5.4% | -5.3% | -0.65% | -35.2% | · | · | |
| ROIC | 0.37% | 12.0% | -3.5% | -3.5% | -0.48% | -33.8% | · | · |
Liquidity & Solvency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.0 | 1.0 | 0.6 | 0.6 | 0.5 | 1.4 | · | · | |
| Quick Ratio | 0.9 | 0.9 | 0.5 | 0.5 | 0.4 | 1.3 | · | · | |
| Debt / Equity | 1.3 | 1.9 | 0.2 | 0.2 | · | 0.0 | · | · | |
| LT Debt / Equity | 1.3 | 1.9 | 0.2 | 0.2 | · | 0.0 | · | · |
Efficiency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.6 | 0.7 | 0.8 | 0.7 | 0.6 | 0.7 | · | · | |
| Receivables Turnover | 4.3 | 4.4 | 4.7 | 5.5 | 5.5 | 4.9 | · | · |
Per Share
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Dividend / Share | · | · | · | · | · | · | $0.11 | $0.09 |
Growth Rates
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 12.2% | 16.5% | 16.4% | 15.5% | 13.6% | · | · | · | |
| Revenue CAGR 3Y | 15.0% | 16.2% | 15.2% | · | · | · | · | · | |
| Revenue CAGR 5Y | 14.8% | · | · | · | · | · | · | · |
Valuation (TTM)
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $748M | $667M | $572M | $492M | $426M | $375M | · | · | |
| Net Income TTM | $7M | $-53M | $-13M | $-12M | $-1M | $-75M | · | · | |
| Payout Ratio | · | · | · | · | · | -185.1% | · | · | |
| Annual Payout | · | · | · | · | · | $146M | · | · |
Income Statement
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $204M | $197M | $195M | $192M | $185M | $177M | $178M | $170M | $161M | $157M | $155M | $145M | $140M | $133M | $131M | $126M | |
| Cost of Revenue | $73M | $72M | $69M | $71M | $63M | $64M | $61M | $60M | $58M | $61M | $61M | $57M | $54M | $52M | $49M | $51M | |
| Gross Profit | $131M | $125M | $126M | $121M | $121M | $113M | $117M | $111M | $103M | $96M | $94M | $88M | $86M | $81M | $82M | $76M | |
| R&D Expense | $25M | $25M | $22M | $20M | $21M | $21M | $20M | $16M | $15M | $17M | $13M | $17M | $13M | $16M | $12M | $10M | |
| SG&A Expense | $51M | $54M | $46M | $45M | $43M | $45M | $40M | $41M | $36M | $36M | $37M | $35M | $39M | $34M | $31M | $32M | |
| Operating Expenses | $136M | $135M | $129M | $117M | $125M | $109M | $130M | $106M | $95M | $97M | $96M | $90M | $90M | $90M | $85M | $76M | |
| Operating Income | $-4M | $-11M | $-3M | $4M | $-4M | $4M | $-13M | $5M | $8M | $-2M | $-2M | $-2M | $-4M | $-9M | $-3M | $-871.0K | |
| Pretax Income | $-4M | $-10M | $-1M | $6M | $-3M | $6M | $-11M | $8M | $7M | $-2M | $-7M | $-3M | $-4M | $-9M | $-4M | $-1M | |
| Income Tax | $-13M | $-7M | $6M | $2M | $-2M | $-5M | $56M | $613.0K | $2M | $-5M | $-22M | $784.0K | $3M | $10M | $957.0K | $-91.0K | |
| Net Income | $9M | $-3M | $-7M | $4M | $-961.0K | $11M | $-68M | $7M | $5M | $3M | $15M | $-3M | $-7M | $-18M | $-5M | $-1M | |
| EBITDA | $-4M | $-11M | · | $4M | $-4M | $4M | · | $5M | $8M | $-2M | · | $-2M | $-4M | $-9M | · | $-871.0K |
Balance Sheet
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $230M | $252M | $314M | $314M | $284M | $270M | $296M | $279M | $326M | $56M | $68M | $49M | $42M | $69M | $92M | $72M | |
| Receivables | $153M | $159M | $183M | $132M | $144M | $152M | $164M | $130M | $120M | $133M | $142M | $129M | $129M | $103M | $103M | $95M | |
| Prepaid Expense | $82M | $59M | $39M | $49M | $48M | $49M | $37M | $34M | $25M | $32M | · | $20M | $22M | $23M | · | $22M | |
| Other Current Assets | · | · | · | · | · | · | · | · | · | · | · | · | · | $12M | · | $10M | |
| Current Assets | $492M | $489M | $561M | $519M | $503M | $505M | $536M | $477M | $515M | $267M | · | $238M | $234M | $231M | · | $219M | |
| PP&E (Net) | · | · | · | · | · | · | · | $168M | $99M | $101M | · | $100M | $99M | $117M | · | $109M | |
| PP&E (Gross) | · | · | · | · | · | · | · | · | · | $275M | · | $249M | $236M | $312M | · | $280M | |
| Accum. Depreciation | · | · | · | · | · | · | · | · | · | $175M | · | $148M | $137M | $194M | · | $171M | |
| Goodwill | $400M | $402M | $392M | $393M | $393M | $369M | $358M | $382M | $251M | $254M | $258M | $251M | $256M | $255M | $252M | $239M | |
| Other Non-current Assets | $8M | $10M | $12M | $13M | $13M | $14M | $14M | $14M | $14M | $15M | · | $15M | $17M | $3M | · | $2M | |
| Total Assets | $1.21B | $1.21B | $1.27B | $1.22B | $1.20B | $1.15B | $1.17B | $1.19B | $1.02B | $756M | · | $720M | $725M | $726M | · | $677M | |
| Accounts Payable | $37M | $36M | $38M | $35M | $30M | $25M | $36M | $29M | $24M | $22M | · | $24M | $22M | $17M | · | $13M | |
| Accrued Liabilities | $35M | $37M | $44M | $40M | $42M | $38M | $35M | $45M | $42M | $37M | · | $50M | $56M | $56M | · | $29M | |
| Current Liabilities | $564M | $567M | $575M | $516M | $506M | $513M | $537M | $458M | $439M | $443M | · | $433M | $431M | $422M | · | $374M | |
| Capital Leases | $7M | $8M | $9M | $10M | $11M | $11M | $13M | $14M | $14M | $16M | · | $17M | $18M | $20M | · | $21M | |
| Deferred Tax | $13M | $9M | $6M | $8M | $9M | $9M | $10M | $16M | · | · | · | · | · | · | · | · | |
| Total Liabilities | $969M | $968M | $1.01B | $957M | $950M | $954M | $987M | $932M | $791M | $506M | · | $500M | $499M | $502M | · | $463M | |
| Long-term Debt | $339M | $338M | $337M | $337M | $336M | $336M | $335M | $335M | $334M | $46M | · | $47M | $48M | $49M | · | $49M | |
| Total Debt | $339M | $338M | · | $337M | $336M | $336M | · | $335M | $334M | $46M | · | $47M | $48M | $49M | · | $49M | |
| Paid-in Capital | $348M | $333M | $316M | $304M | $292M | $273M | $278M | $264M | $255M | $274M | · | $265M | $262M | $254M | · | $238M | |
| Retained Earnings | $-40M | $-49M | $-46M | $-39M | $-43M | $-42M | $-53M | $14M | $7M | $2M | · | $-16M | $-13M | $-6M | · | $18M | |
| Treasury Stock | $57M | $30M | $10M | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| AOCI | $-11M | $-8M | $-1M | $-763.0K | $-1M | $-31M | $-46M | $-20M | $-29M | $-26M | · | $-29M | $-24M | $-25M | · | $-42M | |
| Stockholders' Equity | $241M | $247M | $259M | $264M | $248M | $200M | $179M | $259M | $233M | $250M | $253M | $220M | $226M | $223M | · | $214M | |
| Liabilities + Equity | $1.21B | $1.21B | $1.27B | $1.22B | $1.20B | $1.15B | $1.17B | $1.19B | $1.02B | $756M | · | $720M | $725M | $726M | · | $677M |
Cash Flow
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $29M | $27M | $26M | $25M | $23M | $22M | $21M | $20M | $20M | $21M | $19M | $18M | $17M | $17M | $16M | $15M | |
| Stock-based Comp | $14M | $19M | $12M | $13M | $12M | $21M | $11M | $10M | $10M | $16M | $8M | $8M | $7M | $11M | $5M | $5M | |
| Deferred Tax | $4M | $2M | $-2M | $-1M | $-712.0K | $-929.0K | $60M | $1M | $-7M | $-3M | $-2M | $2M | $653.0K | $-13M | $-1M | $68.0K | |
| Amort. of Intangibles | · | $525.0K | $587.0K | $588.0K | $571.0K | $531.0K | $636.0K | $761.0K | $650.0K | $656.0K | $657.0K | $657.0K | $746.0K | $824.0K | $813.0K | $813.0K | |
| Operating Cash Flow | $31M | $38M | $42M | $62M | $46M | $15M | $41M | $41M | $58M | $25M | $48M | $28M | $-8M | $3M | $40M | $9M | |
| CapEx | $0 | $22M | · | · | · | · | $0 | $66M | $-8M | $14M | · | $13M | $9M | $10M | · | $6M | |
| Investing Cash Flow | $-28M | $-52M | $-32M | $-32M | $-41M | $-18M | $-25M | $-85M | $-28M | $-20M | $-20M | $-16M | $-13M | $-14M | $-22M | $-9M | |
| Net Debt Issued | · | · | · | · | · | · | · | · | · | $-625.0K | · | · | · | $-313.0K | · | · | |
| Stock Repurchased | $27M | $20M | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Net Stock Activity | · | $-20M | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Financing Cash Flow | $-16M | $-53M | $-11M | $-2M | $496.0K | $-21M | $6M | $-13M | $239M | $-1M | $-20M | $-3M | $-2M | $-2M | $-9M | $-9M | |
| Net Change in Cash | $-13M | $-68M | $-498.0K | $28M | $7M | $-22M | $21M | $-56M | $268M | $4M | $8M | $9M | $-23M | $-12M | $11M | $-9M | |
| Taxes Paid | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $404.0K | $733.0K | |
| Free Cash Flow | · | $16M | · | · | · | · | · | · | · | $10M | · | · | · | $-7M | · | · |
Profitability
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 64.4% | 63.5% | · | 63.1% | 65.7% | 63.8% | · | 64.8% | 63.7% | 61.1% | · | 60.8% | 61.4% | 61.0% | · | 59.9% | |
| Operating Margin | -2.2% | -5.4% | · | 2.2% | -2.1% | 2.5% | · | 2.9% | 4.7% | -1.0% | · | -1.4% | -2.9% | -6.7% | · | -0.69% | |
| Net Margin | 4.4% | -1.3% | · | 2.1% | -0.52% | 6.3% | · | 4.2% | 3.2% | 1.7% | · | -2.3% | -4.9% | -13.7% | · | -0.90% | |
| Pretax Margin | -2.0% | -4.9% | · | 2.9% | -1.4% | 3.4% | · | 4.6% | 4.6% | -1.2% | · | -1.8% | -2.8% | -6.5% | · | -0.98% | |
| EBITDA Margin | -2.2% | -5.4% | · | 2.2% | -2.1% | 2.5% | · | 2.9% | 4.7% | -1.0% | · | -1.4% | -2.9% | -6.7% | · | -0.69% | |
| ROA | 0.75% | -0.21% | · | 0.34% | -0.09% | 1.2% | · | 0.76% | 0.59% | 0.36% | · | -0.49% | -0.97% | -2.5% | · | -0.17% | |
| ROE | 3.7% | -1.1% | · | 1.6% | -0.40% | 4.9% | · | 3.0% | 2.2% | 1.1% | · | -1.6% | -3.1% | -8.0% | · | -0.52% | |
| ROIC | 1.7% | -0.47% | · | 0.52% | -0.24% | 1.6% | · | 0.76% | 0.93% | 0.77% | · | -0.98% | -2.6% | -6.9% | · | -0.31% |
Liquidity & Solvency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.9 | 0.9 | · | 1.0 | 1.0 | 1.0 | · | 1.0 | 1.2 | 0.6 | · | 0.5 | 0.5 | 0.5 | · | 0.6 | |
| Quick Ratio | 0.7 | 0.7 | · | 0.9 | 0.8 | 0.8 | · | 0.9 | 1.0 | 0.4 | · | 0.4 | 0.4 | 0.4 | · | 0.4 | |
| Debt / Equity | 1.4 | 1.4 | · | 1.3 | 1.4 | 1.7 | · | 1.3 | 1.4 | 0.2 | · | 0.2 | 0.2 | 0.2 | · | 0.2 | |
| LT Debt / Equity | 1.4 | 1.4 | · | 1.3 | 1.4 | 1.7 | · | 1.3 | 1.4 | 0.2 | · | 0.2 | 0.2 | 0.2 | · | 0.2 |
Efficiency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.2 | 0.2 | · | 0.2 | 0.2 | 0.2 | · | 0.2 | 0.2 | 0.2 | · | 0.2 | 0.2 | 0.2 | · | 0.2 | |
| Receivables Turnover | 1.4 | 1.3 | · | 1.5 | 1.4 | 1.2 | · | 1.3 | 1.3 | 1.3 | · | 1.3 | 1.3 | 1.5 | · | 1.5 |
Valuation (TTM)
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $787M | $768M | · | $732M | $711M | $687M | · | $643M | $618M | $596M | · | $549M | $530M | $509M | · | $472M | |
| Net Income TTM | $4M | $-6M | · | $-54M | $-50M | $-44M | · | $30M | $20M | $8M | · | $-34M | $-31M | $-30M | · | $-8M | |
| Annual Payout | $146M | $146M | · | $146M | $146M | $146M | · | $146M | $146M | $146M | · | $146M | $146M | $146M | · | $146M |
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Revenue | $748M | $667M | $572M | $492M | $426M |
| Gross Margin % | 64.3% | 63.9% | 60.9% | 60.7% | 62.0% |
| Operating Margin % | 0.31% | -0.33% | -3.1% | -1.6% | -0.69% |
| Net Income | $7M | $-53M | $-13M | $-12M | $-1M |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Debt / Equity | 1.3 | 1.9 | 0.2 | 0.2 | · |
| Current Ratio | 1.0 | 1.0 | 0.6 | 0.6 | 0.5 |
| Quick Ratio | 0.9 | 0.9 | 0.5 | 0.5 | 0.4 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Free Cash Flow | · | · | $25M | $18M | $59M |
Institutional owners (13F) 255 filers · $1.1B total · As of Sept. 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Holders
255
Value held
$1.1B
New positions
49
Exited positions
35
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 49 (-13 vs prior Q) | 35 (-17 vs prior Q) | 84 (+14 vs prior Q) | 71 (+2 vs prior Q) | -5.5M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| VANGUARD GROUP INC | $166,721,483 | 8,348,597 | 15.13% | Shares |
| BlackRock, Inc. | $71,591,024 | 6,236,152 | 6.50% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $57,217,847 | 4,984,133 | 5.19% | Shares |
| MORGAN STANLEY | $47,440,011 | 4,132,404 | 4.31% | Shares |
| BROWN ADVISORY INC | $40,743,117 | 3,549,052 | 3.70% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $36,436,177 | 3,173,883 | 3.31% | Shares |
| Tensile Capital Management LP | $33,275,503 | 2,898,563 | 3.02% | Shares |
| UBS Group AG | $32,712,490 | 2,849,520 | 2.97% | Call option |
| JPMORGAN CHASE & CO | $28,819,701 | 2,528,044 | 2.62% | Shares |
| D. E. Shaw & Co., Inc. | $25,139,214 | 2,189,827 | 2.28% | Shares |
| WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC | $24,433,711 | 2,128,372 | 2.22% | Shares |
| STATE STREET CORP | $23,649,024 | 2,060,692 | 2.15% | Shares |
| UBS Group AG | $23,237,426 | 2,024,166 | 2.11% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $21,087,916 | 1,836,548 | 1.91% | Shares |
| NOMURA HOLDINGS INC | $19,103,857 | 1,664,099 | 1.73% | Shares |
| Divisar Capital Management LLC | $18,837,475 | 1,640,895 | 1.71% | Shares |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND | $17,070,760 | 1,487,000 | 1.55% | Shares |
| GOLDMAN SACHS GROUP INC | $17,028,410 | 1,483,311 | 1.55% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $16,908,812 | 1,472,893 | 1.53% | Shares |
| Legacy Advisors, LLC | $15,427,260 | 1,343,838 | 1.40% | Shares |
| NORGES BANK | $15,043,392 | 1,310,400 | 1.37% | Shares |
| CIBC WORLD MARKETS CORP | $14,071,701 | 704,642 | 1.28% | Shares |
| MARSHALL WACE, LLP | $13,939,292 | 1,214,224 | 1.27% | Shares |
| GENEVA CAPITAL MANAGEMENT LLC | $13,624,596 | 1,186,812 | 1.24% | Shares |
| CIBC Bancorp USA Inc. | $12,100,161 | 1,054,021 | 1.10% | Shares |
| Freshford Capital Management, LLC | $12,022,924 | 1,047,293 | 1.09% | Shares |
| BANK OF AMERICA CORP /DE/ | $11,323,011 | 986,325 | 1.03% | Shares |
| CITIGROUP INC | $11,169,661 | 972,967 | 1.01% | Shares |
| CYPRESS POINT INVESTMENT MANAGEMENT LP | $10,931,394 | 952,212 | 0.99% | Shares |
| FMR LLC | $10,489,640 | 913,732 | 0.95% | Shares |
| GAGNON SECURITIES LLC | $8,736,578 | 761,026 | 0.79% | Shares |
| BARCLAYS PLC | $8,122,226 | 707,511 | 0.74% | Shares |
| NORTHERN TRUST CORP | $8,120,366 | 707,349 | 0.74% | Shares |
| TimesSquare Capital Management, LLC | $8,116,732 | 682,652 | 0.74% | Shares |
| Qube Research & Technologies Ltd | $7,539,582 | 656,758 | 0.68% | Shares |
| Hyperion Capital Advisors LP | $7,232,400 | 630,000 | 0.66% | Shares |
| CITADEL ADVISORS LLC | $6,622,755 | 576,895 | 0.60% | Shares |
| KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC | $6,529,789 | 568,797 | 0.59% | Shares |
| BANQUE PICTET & CIE SA | $6,290,753 | 547,975 | 0.57% | Shares |
| PALISADE CAPITAL MANAGEMENT, LP | $6,283,945 | 547,382 | 0.57% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $6,108,680 | 532,115 | 0.55% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $6,023,923 | 524,732 | 0.55% | Shares |
| JANE STREET GROUP, LLC | $5,344,445 | 465,544 | 0.49% | Shares |
| COMERICA BANK | $5,152,636 | 258,019 | 0.47% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $4,992,055 | 434,848 | 0.45% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $4,671,212 | 406,900 | 0.42% | Call option |
| Voleon Capital Management LP | $4,517,472 | 393,508 | 0.41% | Shares |
| BROWN CAPITAL MANAGEMENT LLC | $4,291,500 | 373,824 | 0.39% | Shares |
| Gagnon Advisors, LLC | $4,151,409 | 361,621 | 0.38% | Shares |
| EFG Asset Management (North America) Corp. | $3,706,233 | 149,475 | 0.34% | Shares |
Company insiders 25 insiders · 4 officers · 11 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Christopher David Young | President and CEO | Feb. 23, 2026 P | 60,000 | 1 | 0 | $730,800 |
| Bryan T.R. Rowland | GENERAL COUNSEL | Feb. 23, 2026 M | 12,872 | 0 | 0 | $0 |
| Ryan J Leib | Chief Accounting Officer | Feb. 20, 2026 M | 7,423 | 0 | 0 | $0 |
| Lisa Butler | CHIEF ACCOUNTING OFFICER | March 14, 2024 S | 250 | 0 | 0 | $0 |
| Mark J Mendola | Director | June 10, 2026 A | 20,965 | 0 | 0 | $0 |
| John Richard Stamm | Director | June 10, 2026 A | 32,685 | 0 | 0 | $0 |
| David Destefano | Director | June 10, 2026 A | 1,271,155 | 0 | 1 | $-82,365 |
| Amanda Westphal Radcliffe | Director | June 10, 2026 A | 159,030 | 0 | 0 | $0 |
| Stefanie Westphal Thompson | Director | June 10, 2026 A | 66,995 | 0 | 0 | $0 |
| Bradley M Gayton | Director | June 10, 2026 A | 68,500 | 0 | 0 | $0 |
| Eric C. Andersen | Director | June 10, 2026 A | 165,979 | 1 | 0 | $516,400 |
| Philip Seth Saunders | Director | June 10, 2026 A | 50,606 | 0 | 0 | $0 |
| Kevin L Robert | Director | Dec. 15, 2023 S | 23,936 | 0 | 0 | $0 |
| Terrence Kyle | Director | July 28, 2020 F | 57,429 | 0 | 0 | $0 |
| ITEM SECOND IRR. TRUST FBO KYLE R. WESTPHAL u/a of JEFFREY R. WESTPHAL dated October 5, 2001 | 10% owner | March 9, 2026 P | 1,221,100 | 1 | 0 | $150,500 |
| ITEM SECOND IRR. TRUST FBO ANNE MARIE WESTPHAL u/a of JEFFREY R. WESTPHAL dated October 5, 2001 | 10% owner | June 24, 2025 S | 173,074 | 0 | 0 | $0 |
| 2020 IRREVOCABLE TRUST FOR BENEFIT OF CONSTANCE A. THOMPSON | 10% owner | May 20, 2025 C | 22,500 | 0 | 0 | $0 |
| ITEM SECOND IRR. TRUST FBO MELANIE H. LUCAS u/a of STEFANIE W. LUCAS dated October 5, 2001 | 10% owner | May 20, 2025 C | 300,000 | 0 | 0 | $0 |
| ITEM SECOND IRR. TRUST FBO ANDREA P. LUCAS u/a of STEFANIE W. LUCAS dated October 5, 2001 | 10% owner | May 20, 2025 C | 400,000 | 0 | 0 | $0 |
| ITEM SECOND IRR. TRUST FBO MACKENZIE S. LUCAS u/a of STEFANIE W. LUCAS dated October 5, 2001 | 10% owner | May 20, 2025 C | 600,000 | 0 | 0 | $0 |
| ITEM SECOND IRR. TRUST FBO JACOB J. WESTPHAL u/a of JEFFREY R. WESTPHAL dated October 5, 2001 | 10% owner | Dec. 23, 2024 G | 745,706 | 0 | 0 | $0 |
| 2020 IRREVOCABLE TRUST FOR BENEFIT OF NICHOLAS A. SHUHAN | 10% owner | March 27, 2024 S | 0 | 0 | 0 | $0 |
| Tensile Capital Management LP | 10% owner | Nov. 10, 2023 S | 5,396,299 | 0 | 0 | $0 |
| John R Schwab | · | Feb. 23, 2026 M | 132,271 | 0 | 0 | $0 |
| Jeffery Westphal | · | Feb. 17, 2026 P | 397,740 | 2 | 0 | $5,119,939 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 28 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| HAPS · Harbor ETF Trust | 0.14% | 18,590 NS | July 31, 2026 | N-PORT |
| ESSC · Strategy Shares | 0.11% | 3,106 NS | July 31, 2026 | N-PORT |
| IWO · iShares Trust | 0.06% | 683,929 SH | Sept. 11, 2026 | Daily |
| VFQY · VANGUARD WELLINGTON FUND | 0.05% | 21,469 SH | Aug. 19, 2026 | Daily |
| VTWG · VANGUARD SCOTTSDALE FUNDS | 0.05% | 78,089 SH | Aug. 19, 2026 | Daily |
| IGV · iShares Trust | 0.03% | 345,296 SH | Sept. 11, 2026 | Daily |
| RSSL · Global X Funds | 0.03% | 34,864 NS | July 31, 2026 | N-PORT |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.03% | 418,966 SH | Aug. 19, 2026 | Daily |
| IWM · iShares Trust | 0.03% | 1,879,435 SH | Sept. 11, 2026 | Daily |
| ISCG · iShares Trust | 0.03% | 20,287 SH | Sept. 11, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.02% | 50,758 SH | Oct. 2, 2026 | Daily |
| VBK · VANGUARD INDEX FUNDS | 0.02% | 963,531 SH | Aug. 19, 2026 | Daily |
| RILA · Spinnaker ETF Series | 0.02% | 587 NS | July 31, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.01% | 846,887 SH | Aug. 19, 2026 | Daily |
| VB · VANGUARD INDEX FUNDS | 0.01% | 1,653,704 SH | Aug. 19, 2026 | Daily |
| VGT · VANGUARD WORLD FUND | 0.01% | 1,842,679 SH | Aug. 19, 2026 | Daily |
| TILT · FlexShares Trust | 0.01% | 11,692 NS | July 31, 2026 | N-PORT |
| TECB · iShares Trust | 0.01% | 2,431 SH | Sept. 10, 2026 | Daily |
| IGM · iShares Trust | 0.00% | 41,430 SH | Sept. 11, 2026 | Daily |
| DFSU · Dimensional ETF Trust | 0.00% | 3,402 NS | July 31, 2026 | N-PORT |
| ITOT · iShares Trust | 0.00% | 100,036 SH | Sept. 11, 2026 | Daily |
| IWV · iShares Trust | 0.00% | 19,478 SH | Sept. 9, 2026 | Daily |
| DFUS · Dimensional ETF Trust | 0.00% | 9,387 NS | July 31, 2026 | N-PORT |
| DFAS · Dimensional ETF Trust | 0.00% | 2,891 NS | July 31, 2026 | N-PORT |
| DFAU · Dimensional ETF Trust | 0.00% | 1,040 NS | July 31, 2026 | N-PORT |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 2,255,642 SH | Aug. 19, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 5,695 SH | Aug. 19, 2026 | Daily |
| ISCB · iShares Trust | · | 3,074 SH | Sept. 11, 2026 | Daily |
VERX Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
rating · 22 analysts
BUY
Median target
$16.00
+33.2%
5 22.7%
Strong Buy
8 36.4%
Buy
9 40.9%
Hold
0 0.0%
Sell
0 0.0%
Strong Sell
12-Month Price Target
13 analysts · 2026-10-03Mean target $17.15 +42.8%
Now
Current price $12.01
Low$12.00
Mean$17.15
High$25.00
Peer comparison (GICS sub-industry) Key metrics vs sector peers
FY basis, prices as of each company's last fiscal year-end close.
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| VERX | · | · | 12.2% | 0.96% | 2.8% | 64.3% |
| RAMP | · | 11.8 | 9.0% | 17.9% | 15.2% | 70.7% |
| KEEL | · | · | 72.0% | -124.1% | -48.6% | -8.2% |
| NCNO | $2.43B | 427.2 | 10.0% | 0.87% | 0.49% | 60.6% |
| ASAN | $2.44B | -12.8 | 9.2% | -23.9% | -99.8% | 89.0% |
| PRCH | $1.13B | -304.3 | 10.2% | -0.70% | 9.9% | 70.5% |
| BLKB | $2.96B | 26.7 | -2.3% | 10.2% | 145.7% | 58.8% |
| AMPL | · | -17.3 | 14.7% | -25.8% | -33.7% | 74.0% |
| PLTR | $425.03B | 282.1 | 56.2% | 36.3% | 26.2% | 82.4% |
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Source: SEC 10-Q filed Aug 4, 2026