Vertex Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	-53.58	-52.73	-13.09	-12.3	-1.48	-75.08
Depreciation & Amortization	6.64	7.18	9.34	11.54	9.42	9.02
Other Amortization	92.08	81.87	65.39	50.23	35.57	24.96
Stock-Based Compensation	57.22	47.43	33.92	19.73	26.16	147.9
Other Operating Activities	60.97	69.27	-1.57	5.87	1.69	-56.02
Change in Accounts Receivable	-1.85	-22.08	-45.22	-25.67	2.96	-6.76
Change in Accounts Payable	6.12	11.62	9.24	1.37	3.85	-1.84
Change in Unearned Revenue	34.9	51.1	18.17	30.77	24.69	17.56
Change in Other Net Operating Assets	-38.08	-28.83	-1.84	-17.69	-12.57	-0.19
Operating Cash Flow	164.41	164.82	74.33	63.85	90.29	59.54
Operating Cash Flow Growth	-4.04%	121.74%	16.42%	-29.29%	51.64%	-35.63%
Capital Expenditures	-87.59	-65.77	-49.26	-45.53	-31.71	-20.96
Cash Acquisitions	-	-71.76	-	-0.47	-251.41	-11.57
Sale (Purchase) of Intangibles	-21.43	-21.34	-18.97	-14.89	-11.66	-11.85
Investment in Securities	-7.44	0.72	2.06	-11.15	-	-
Investing Cash Flow	-116.46	-158.15	-66.17	-72.05	-294.78	-44.38
Short-Term Debt Issued	-	-	-	-	-	12.5
Long-Term Debt Issued	-	345	-	50	-	175
Total Debt Issued	-	345	-	50	-	187.5
Short-Term Debt Repaid	-	-	-	-	-	-12.5
Long-Term Debt Repaid	-	-50.87	-2.29	-2.29	-0.96	-226.25
Total Debt Repaid	-0.07	-50.87	-2.29	-2.29	-0.96	-238.75
Net Debt Issued (Repaid)	-0.07	294.13	-2.29	47.71	-0.96	-51.25
Issuance of Common Stock	14.81	11.46	7.33	3.77	3.92	432.79
Repurchase of Common Stock	-28.7	-21.52	-9.7	-1.1	-12.76	-14.81
Common Dividends Paid	-	-	-	-	-	-146.12
Other Financing Activities	-2.03	-52.81	-21.82	-33.28	0.7	-6.98
Financing Cash Flow	-15.99	231.26	-26.48	17.09	-9.1	213.63
Foreign Exchange Rate Adjustments	1.45	-1.01	0.72	-0.35	-0.48	-0.02
Net Cash Flow	33.41	236.92	-17.6	8.54	-214.07	228.78
Free Cash Flow	76.82	99.05	25.07	18.32	58.58	38.59
Free Cash Flow Growth	-30.10%	295.09%	36.88%	-68.73%	51.82%	-46.52%
Free Cash Flow Margin	10.49%	14.85%	4.38%	3.73%	13.77%	10.30%
Free Cash Flow Per Share	0.49	0.64	0.17	0.12	0.40	0.29
Cash Interest Paid	3.29	3.29	3.73	2.22	0.22	2.46
Cash Income Tax Paid	8.59	8.59	5.65	3.06	1.29	0.59
Levered Free Cash Flow	92.56	117.73	22.1	31.28	79.02	79.99
Unlevered Free Cash Flow	89.83	115.42	24.43	31.94	79.42	79.31
Change in Working Capital	1.09	11.81	-19.65	-11.21	18.93	8.77

Updated Nov 3, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

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