XML 50 R34.htm IDEA: XBRL DOCUMENT v3.25.0.1

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2024

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Schedule of assets and liabilities measured at fair value on a recurring basis

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Fair Value Measurements Using

As of December 31, 2024

​

Fair Value

Prices in active markets for identical assets (Level 1)

Significant other observable inputs (Level 2)

Significant unobservable inputs (Level 3)

Money Market Funds

​

$

276,374

​

$

276,374

​

$

—

​

$

—

Commercial Paper

​

​

4,920

​

​

—

​

​

4,920

​

​

—

Corporate Bonds

​

​

250

​

​

—

​

​

250

​

​

—

U.S. Treasury Securities

​

​

5,983

​

​

—

​

​

5,983

​

​

—

ecosio Cash Earn-outs

​

​

74,400

​

​

—

​

​

—

​

​

74,400

ecosio Stock Earn-outs

​

​

48,100

​

​

—

​

​

—

​

​

48,100

​

​

Fair Value Measurements Using

As of December 31, 2023

​

Fair Value

Prices in active markets for identical assets (Level 1)

Significant other observable inputs (Level 2)

Significant unobservable inputs (Level 3)

Money Market Funds

​

$

53,049

​

$

53,049

​

$

—

​

$

—

Commercial Paper

​

​

7,168

​

​

—

​

​

7,168

​

​

—

U.S. Treasury Securities

​

​

3,621

​

​

—

​

​

3,621

​

​

—

Tellutax Contingent Consideration

​

​

4,900

​

​

—

​

​

—

​

​

4,900

Foreign Currency Forward Contracts

​

​

849

​

​

—

​

​

849

​

​

—

Schedule of additional information on Cash and Stock Earn-outs

​

​	​	​	​	​	​	​	​	​	​	​	​
​	​	Maximum		​	​	​	Fair Value		​	Fair Value
Cash Earn-outs/ Period	​	Payout		​	​	​	December 31, 2024		​	at Acquisition Date
Year 1 - December 1, 2024 - December 1, 2025	​	$	19,600	​	​	​	$	17,900	​	$	16,700
Year 2 - December 1, 2025 - December 1, 2026	​	​	30,625	​	​	​	​	24,400	​	​	23,200
Year 3 - December 1, 2026 - December 1, 2027	​	​	44,130	​	​	​	​	32,100	​	​	31,100
Total Cash Earn-outs	​	$	94,355	​	​	​	$	74,400	​	$	71,000
​	​	Maximum		​	​	​	Fair Value		​	Fair Value
Stock Earn-outs/ Period	​	Payout (1)		​	​	​	December 31, 2024		​	at Acquisition Date
Year 1 - December 1, 2024 - December 1, 2025	​	$	12,000	​	​	​	$	17,200	​	$	12,200
Year 2 - December 1, 2025 - December 1, 2026	​	​	12,000	​	​	​	​	16,300	​	​	11,400
Year 3 - December 1, 2026 - December 1, 2027	​	​	11,000	​	​	​	​	14,600	​	​	10,400
Total Stock Earn-outs	​	$	35,000	​	​	​	$	48,100	​	$	34,000
(1) Maximum payout based on Vertex's August 6, 2024 opening share price of $37.02, as referenced in the purchase agreement.
​	​	​	​	​	​	​	​	​	​	​	​

Changes in fair value of contingent consideration

​

​	​	​	​	​	​	​	​	​	​
​	​	Tellutax		​	ecosio		​	ecosio
​	​	Contingent		​	Contingent Consideration		​	Contingent Consideration
​	​	Consideration		​	Cash Earn-outs		​	Stock Earn-outs
Balance, January 1, 2022	​	$	2,500	​	$	—	​	$	—
Fair value adjustments	​	​	2,300	​	​	—	​	​	—
Balance, December 31, 2022	​	​	4,800	​	​	—	​	​	—
Fair value adjustments	​	​	1,549	​	​	—	​	​	—
Payments	​	​	(1,449)	​	​	—	​	​	—
Balance, December 31, 2023	​	​	4,900	​	​	—	​	​	—
ecosio acquisition (Note 3)	​	​	—	​	​	71,000	​	​	34,000
Fair value adjustments	​	​	(2,575)	​	​	3,400	​	​	14,100
Payments	​	​	(2,325)	​	​	—	​	​	—
Balance, December 31, 2024	​	$	—	​	$	74,400	​	$	48,100

Ecosio

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Summary of fair value of contingent consideration and unobservable inputs used for the Monte Carlo Simulation valuation

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

December 31, 2024

Liabilities

Fair Value

​

Valuation Technique

​

Unobservable Inputs

ecosio Contingent Consideration - Cash Earn-outs

​

$

74,400

​

​

Monte Carlo Simulation

​

​

Revenue volatility

​

21.0

%

​

​

​

​

​

​

​

​

​

Revenue discount rate

​

7.7

%

​

​

​

​

​

​

​

​

​

Term (in years)

​

3.2

​

​

​

​

​

​

​

​

​

​

​

​

​

​

ecosio Contingent Consideration - Stock Earn-outs

​

$

48,100

​

​

Monte Carlo Simulation

​

​

Revenue volatility

​

21.0

%

​

​

​

​

​

​

​

​

​

Revenue discount rate

​

7.7

%

​

​

​

​

​

​

​

​

​

Term (in years)

​

3.2

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Acquisition Date

Liabilities

Fair Value

​

Valuation Technique

​

Unobservable Inputs

ecosio Contingent Consideration - Cash Earn-outs

​

$

71,000

​

​

Monte Carlo Simulation

​

​

Revenue volatility

​

21.0

%

​

​

​

​

​

​

​

​

​

Revenue discount rate

​

7.6

%

​

​

​

​

​

​

​

​

​

Term (in years)

​

3.5

​

​

​

​

​

​

​

​

​

​

​

​

​

​

ecosio Contingent Consideration - Stock Earn-outs

​

$

34,000

​

​

Monte Carlo Simulation

​

​

Revenue volatility

​

21.0

%

​

​

​

​

​

​

​

​

​

Revenue discount rate

​

7.6

%

​

​

​

​

​

​

​

​

​

Term (in years)

​

3.5

​

Tellutax

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Summary of fair value of contingent consideration and unobservable inputs used for the Monte Carlo Simulation valuation

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

December 31, 2023

Liability

Fair Value

​

Valuation Technique

​

Unobservable Inputs

Tellutax Contingent Consideration

​

$

4,900

​

​

Monte Carlo Simulation

​

​

Revenue volatility

​

60.0

%

​

​

​

​

​

​

​

​

​

Revenue discount rate

​

20.8

%

​

​

​

​

​

​

​

​

​

Term (in years)

​

1.3

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

X

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-3

+ Details

Name:	us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 103
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-103

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

+ Details

Name:	us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-3

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

+ Details

Name:	us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of contingent payment arrangements including the terms that will result in payment and the accounting treatment that will be followed if such contingencies occur, including the potential impact on earnings per share if contingencies are to be settled in common stock of the entity. The description also may include the period over which amounts are expected to be paid, and changes in the amount since the previous reporting period. This also includes contingent options and commitments.

+ References

No definition available.

+ Details

Name:	us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionContingentConsiderationTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

+ Details

Name:	us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Details

Name:	us-gaap_BusinessAcquisitionAxis=verx_EcosioGmbhMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_BusinessAcquisitionAxis=verx_TellutaxMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type: