Vertex Inc-A 2025年季度报告

(Mark One) ☒QUARTERLY REPORT PURSUANT TO SECTION13 OR 15(d)OF THE SECURITIESEXCHANGE ACT OF 1934 For the quarterly period endedMarch 31, 2025OR TRANSITION REPORT PURSUANT TO SECTION13 OR 15(d)OF THE SECURITIESEXCHANGE ACT OF 1934 For the transition period from ________ to ________Commission File Number:001-39413 (Exact Name of Registrant as Specified in its Charter) 23-2081753 Delaware (State or other jurisdiction ofincorporation or organization) 2301 Renaissance BlvdKing of Prussia,Pennsylvania(Address of principal executive offices) Registrant’s telephone number, including area code: (800)355-3500Securities registered pursuant to Section12(b)of the Act: Nameofeachexchangeonwhichregistered Tradingsymbol Title of each class The Nasdaq Stock Market LLC Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d)of theSecurities Exchange Act of 1934 during the preceding 12months (or for such shorter period that the registrant was required to filesuch reports), and (2)has been subject to such filing requirements for the past 90days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to besubmitted pursuant to Rule405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12months (or for such shorterperiod that the registrant was required to submit such files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, asmaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,”“smaller reporting company,” and “emerging growth company” in Rule12b-2 of the Exchange Act. Large accelerated filerNon-accelerated filer ☒Acceleratedfiler☐SmallerreportingcompanyEmerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transitionperiod for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the ExchangeAct.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Exchange Act).Yes☐No☒ As of May 5, 2025, the registrant had72,005,249shares of ClassA common stock, $0.001 par value per share, and86,480,641shares of Class B common stock, $0.001 par value per share, outstanding. TABLE OF CONTENTS Part I - Financial InformationItem 1.Financial StatementsCondensed Consolidated Balance Sheets as of March 31, 2025 (unaudited) andDecember 31, 20245Condensed Consolidated Statements of Comprehensive Income (Loss) for theThree Months Ended March 31, 2025 and 2024 (unaudited)6Condensed Consolidated Statements of Changes in Stockholders’ Equity for theThree Months Ended March 31, 2025 and 2024 (unaudited)7Condensed Consolidated Statements of Cash Flows for the Three Months EndedMarch 31, 2025 and 2024 (unaudited)8Notes to Condensed Consolidated Financial Statements (unaudited)9Item 2.Management’s Discussion and Analysis of Financial Condition and Results ofOperations31Item 3.Quantitative and Qualitative Disclosures About Market Risk50Item 4.Controls and Procedures51Part II - Other Information52Item 1.Legal Proceedings52Item1A.Risk Factors52Item 2.Unregistered Sales of Equity Securities and Use of Proceeds52Item 3.Defaults Upon Senior Securities52Item 4.Mine Safety Disclosures52Item 5.Other Information52Item 6.Exhibits53Signatures54 SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q contains forward-looking statements within the meaning of thePrivate Securities Litigation Reform Act of 1995. All statements made in this Quarterly Report onForm 10-Q that are not statements of historical fact, including statements about our beliefs andexpectations and regarding future events or our future results of operations, financial condition,business, strategies, financial needs, and the plans and objectives of management, are forward-looking statements and should be evaluated as such. These statements often include words such as“anticipate,” “believe,” “expect,” “suggests,” “plans,” “intend,” “estimates,” “targets,” “projects,”“should,” “could,” “would,” “may,” “will,” “forecast,” and other similar expressions or the negativesof those terms. We base these forward-looking statements on our current expectations, plans, andassumptions that we have made in light of our experience in the industry, as well as our perceptionsof historical trends, current conditions, expected future developments and other factors we believe areappropriate under the circumstances at such time. As you read and consider this Quarterly Report onForm 10-Q, you should understand that these statements are not guarantees of future performance orresults.The forward-looking statements are subject to and involve risks,uncertainties andassumptions, and you should not place undue reliance on thes