Vertex, Inc. (VERX) Stock Price & How to Invest

Vertex, Inc. (NASDAQ: VERX) is a global provider of indirect tax software, content, and services that help large and mid-size enterprises calculate, collect, and report taxes such as sales and consumer use tax, value added tax (VAT), and payroll-related indirect taxes. Its core O Series platform plugs into the ERP, e-commerce, procurement, and billing systems that big companies already run (SAP, Oracle, Workday, Salesforce and others) and applies a continuously updated database of tax rules across thousands of jurisdictions so that the correct tax is applied on every transaction. Founded in 1978 and public since 2020, Vertex serves roughly 4,900 direct customers, many of them large multinationals, and earns the bulk of its revenue from recurring software subscriptions plus related services, with annual recurring revenue per customer of about $137,867 as of late 2025.

The investment picture is a durable, recurring-revenue compliance business going through a rough stretch in the market. Revenue keeps growing (full-year 2025 came in around $752 million and 2026 guidance is roughly $823 million to $831 million), cloud revenue is expanding at a faster clip than the overall business, and adjusted EBITDA is rising, yet the stock lost roughly 70% of its value over the year to mid-2026. Analysts pointed to deteriorating underlying key performance indicators in late 2025, extended sales cycles, a CEO transition, and reset margin and multiple assumptions. In response, management launched a Value Creation Plan in 2026 that cut about 9% of the workforce and targets $60 million to $70 million of annual cash savings starting in 2027 while pushing the company toward a more AI-enabled product. The result is a company that is still growing and profitable on an adjusted basis but whose valuation now reflects meaningfully lower expectations.

Vertex shares fell roughly 70% over the year to mid-2026, driven by deteriorating key performance indicators in late 2025, extended sales cycles, and reduced growth and margin expectations, so momentum and sentiment have been sharply negative. A CEO transition adds leadership and execution uncertainty at a moment when the company is also restructuring, and a botched reset could pressure both revenue and morale. Growth is decelerating from prior levels, and if enterprise buyers keep delaying decisions, subscription growth could slow further. Competition is intense from larger and well-funded rivals (including Avalara, Thomson Reuters ONESOURCE, Sovos, and Wolters Kluwer), which can pressure pricing and win rates. GAAP profitability is thin relative to adjusted EBITDA because of stock-based compensation and amortization, and several plaintiff law firms have publicized investigations following the stock decline, which, while common after large drops, add headline and potential litigation noise.

A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Vertex, Inc.'s investor relations page or your broker.

• Market Cap: ~$2.0 billion
• Revenue (TTM): ~$775 million
• FY2025 Revenue: ~$752 million
• FY2026 Revenue Guidance: ~$823 to $831 million
• Q1 2026 Revenue: ~$196.7 million (up ~11% YoY)
• FY2026 Adjusted EBITDA Guidance: ~$202 to $208 million

As of July 2026, Vertex traded at a market cap of about $2.0 billion after losing roughly 70% of its value over the prior year, even though revenue kept growing and adjusted EBITDA was rising. The stock now trades on a much lower revenue multiple than it did at its peak, reflecting reset growth and margin expectations. Whether that repricing is an opportunity or a warning depends on whether growth stabilizes and the 2026 cost plan delivers the promised savings.

There are three common ways to get VERX exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic basket, so VERX sits alongside other stocks that express the same thesis.

Walnut takes the basket route. Describe a thesis where VERX fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.

Vertex is a profitable, recurring-revenue indirect-tax software company whose share price has been sharply repriced lower, leaving a business that still grows revenue and expands margins but faces real questions about growth durability and leadership transition.

Whether VERX is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is VERX a buy?, and where the stock could go from here in the VERX stock forecast.

For income investors, whether VERX pays a dividend and how the payout looks is covered in does VERX pay a dividend?